Pierre & Vacances : Good performance in H1 driven by Center Parcs thanks to good execution of the strategic plan
>Strong EBIT growth in H1 2021-22 driven by Center Parcs - On already-reported H1 sales up 141% y-o-y at € 715.3m, with accommodation sales up 7.5% on H1 18-19 (driven by very robust momentum at CP: +22.4% thanks to uptrading at CP), H1 21-22 EBIT came in at -€ 35.3m (ODDO BHF: -€ 42m est; H1 18/19: -€ 116.6m). Adjusted EBITDA showed a significant improvement at -€ 8.8m (vs -€ 286.1m in H1 20-21 and -€ 82.4m in H1 18-19). Aside from the impact of stronger sales (sale...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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