Pierre & Vacances : A significant COVID-19 impact in H2 - Satisfactory liquidity - Q4 will be key
>Limited COVID-19 impact in H1 - reassuring liquidity situation - The interim results presentation provided some detail on profitability in H1 (an H1 2020 underlying operating loss of -€ 125.6m, down -€ 14.1m vs H1 2019), penalised by a strong seasonal effect as well as the initial impact of the health crisis: 1/ In tourism: the group posted an underlying operating loss of -€ 116.7m, i.e. -€ 12.4m vs H1 2019. Excluding the COVID-19 impact (€ 30m on underlying operatin...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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