woensdag 22 januari 2020

First Quarter 2019/2020 Revenue Pierre & Vacances Center Parcs

Under IFRS accounting rules, Q1 2019/2020 revenue totalled €334.5 million (€265.5 million for the tourism activities and €69.0 million for the property development activities).

The Group nevertheless continues to comment on its revenue and the associated financial indicators, in compliance with its operating reporting namely:
- with the presentation of joint undertakings under proportional consolidation,
- excluding the impact of IFRS16 application.

A reconciliation table presenting revenue stemming from operating reporting and revenue under IFRS accounting is presented in the appendix at the end of the press release.


Tourism revenue
Q1 2019/2020 revenue from the tourism businesses totalled €281.9 million, up 14.2% relative to Q1 2018/2019.

Accommodation revenue rose 13.1% to €191.9 million, driven by both net average letting rates (+7.8%) and the number of nights sold (+5.0%).

On a like-for-like basis, i.e. excluding supply and calendar effects, revenue was up 6.8%:
  • Pierre & Vacances Tourisme Europe contributed €67.8 million, up 2.3% like-for-like.
    This growth was driven by all seaside destinations (+5.9% in France and Spain), and by the mountain residences (+2.9%) which posted an occupancy rate of 85% over the quarter. The Adagio residences business (which accounted for 56% of revenue in the Pierre & Vacances Tourisme Europe division in the first quarter of the year), affected by social movements in France, was nevertheless stable over the period.
  • Center Parcs Europe contributed €124.2 million, showing growth of 9.4% like-for-like.
    Growth in activity concerned both the domains located in the Netherlands, Germany and Belgium (+10.5%) and those in France (+7.2%, o/w +5.3% for the Center Parcs domains, and +19.5% for Villages Nature Paris).
Supplementary income grew by 16.5%, with a rise of 20.5% for Center Parcs Europe and 8.7% for Pierre & Vacances Tourisme Europe, mainly due to the development of maeva.com activities.

Bron en hele artikel: Yahoo Finance