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.
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%:
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).
Bron en hele artikel: Yahoo Finance
