Pierre & Vacances : A healthy balance sheet, good execution of the strategic plan. Focus on improved profitability. Outperform vs Neutral
>2022 results reflect the good execution of the “reinvention” plan - For 2022, the group has published good results: 1/ sales in accommodation (68% of consolidated sales) were up 12.6% vs 2019 underpinned by a robust trend at Center Parcs, +25.5% thanks to the modernisation and upgrading of its sites, which was reflected in a marked increase in prices (+23%); 2/ adjusted EBITDA was € 156.5m vs € 78.6m in 2019 primarily driven by robust sales. Excluding non-recurring ...Pierre & Vacances is engaged in the market of local tourism by operating apartments and homes, or beds, located primarily in France (in mountain, seaside and countryside resorts, cities and the French West Indies), as well as in the Netherlands, Germany, Belgium, Italy and Spain. Co. develops its activities through two lines of business: the Property Development business (building and marketing of the residences and villages in France, Italy and Spain) and the Tourism business (operating and marketing of holidays in residences and villages under the Pierre & Vacances, Maeva, Adagio, Residences MGM, Hotels Latitudes, Center Parcs Europe and Sunparks brands).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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