Strong recovery in tourism activities during the summer period
Under IFRS accounting:
- Q4 2019/2020 revenue totalled €457.8 million (€412.2 million for the tourism activities and €45.6 million for the property development activities).
- Full-year 2019/2020 revenue totalled €1,171.5 million (€982.4 million for the tourism activities and €189.1 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 in proportional consolidation,
- excluding the impact of IFRS16 application
After third quarter revenue was harshly affected by the closure of virtually all the Group’s sites over the period, Center Parcs Europe and Pierre & Vacances France experienced a remarkable recovery during the fourth quarter, despite the absence of foreign tourists, benefiting from new consumer trends in favour of local and sustainable tourism.
Over the period ranging from mid-March to end-May/early-June, the Group was obliged to close virtually all of its sites with lost revenue amounting to more than €300 million.
Bron en hele artikel: Business Wire
