Pierre & Vacances : Dynamic growth in tourism sales in Q2 – Good visibility on H2
>H1 tourism sales: +8.9%, of which 11.8% in Q2, driven by Center Parcs - P&V has reported H1 2022/23 sales broadly in line with expectations at € 822.2m, up 1.7% year-on-year (ODDO BHF: € 826.9m), including tourism sales (93% of H1 sales) up 8.9%, with an acceleration in Q2 (+11.8%). H1 accommodation sales totalled € 597.4m, up 8.6% year-on-year (of which +11.7% in Q2), with the following divisional trends: 1/ continued sales growth at Center Parcs: +9.3% year-on-year...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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