Revenue Growth1 of Almost 5% for the Pierre & Vacances-Center Parcs Group Brands Over the First Nine Months of 2023/2024, With Resilient Business During the Third Quarter
The Pierre & Vacances Center Parcs Group (Paris:VAC) recorded Q3 2023/2024 revenue from the tourism businesses down just 1.7% relative to the third quarter of the previous year, in a difficult external environment for the tourism industry, especially in France (disadvantageous calendar effects, poor weather conditions, pre-Olympic Games effects, a deteriorated political, social and economic backdrop, market normalisation after 2023 boosted by the post-Covid rebound…).
After an increase of almost 9% during the first-half period, the Group therefore reported revenue across all brands up by almost 5% over the first nine months of the year.
In view of this performance, the level of reservations to date and the ongoing savings plan, the Group confirms its outlook for growth in operating profitability over the full-year 2023/2024, with adjusted EBITDA set to reach at least €170 million (or €160 million excluding the impact of non-recurring income).
Franck Gervais, CEO of Pierre & Vacances-Center Parcs, stated:
“Despite weak sector momentum and the combination of disadvantageous economic factors, our revenue was only down slightly in the third quarter, testifying to the Group’s resilience and the relevance of its positioning in positive-impact local tourism.
Reservations for the summer season show healthy momentum in last-minute bookings which already represent more than 80% of the target. Combined with the smooth execution of our strategic plan, this is reassuring for our full-year EBITDA target indicating a sharp increase on the figure recorded in 2023.”
Bron en hele artikel: Business Wire
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