Pierre & Vacances : Q3 affected by unfavourable economic factors - Stable sales expected in Q4 - FY targets maintained
>Tourism revenue down by 1.7% in Q3 affected by unfavourable economic factors (Center Parcs and Adagio are the most affected) - P&V published Q3 23-24 revenue below expectations, at € 446.6m, down 4% y-o-y (ODDO BHF: € 487.5m), including a limited decrease of 1.7% in Tourism sales at € 421.2m. Over the first 9 months of the year, sales came to € 1,268.9m (-0.4% y-o-y), including Tourism revenue up 4.9%. In Q3 alone, accommodation sales fell by 5% y-o-y, due to several...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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