(Boursier.com) — Pierre and Holidays unveils record 2022-2023 results, higher than the financial forecasts revised upwards on April 18, with: turnover from tourism activities at 1.742 billion euros (initial forecast at 1.660 MdE, revised in April 2023 at more of 1,700 MdE), up 12.8% compared to the previous financial year and +27.6% compared to the 2019 financial year (pre-Covid reference); an adjusted EBITDA of 137 million euros (initial forecast of 105 ME, revised in April 2023 to more than 130 ME), up +30% and +74% compared to the 2019 financial year; operational cash generation at 56 ME (initial forecast at 37 ME, revised in April 2023 to more than 50 ME).
The Group’s net profit stood at -20.6 million euros. It notably includes 59 million euros of non-recurring operating expenses, mainly relating to Senioriales as part of the ongoing sale process. Restated for this item, the net result would have been largely profitable. As a reminder, the net profit for the 2022 financial year (325.0 million euros) included the gain linked to the conversion of debt into capital as part of the restructuring operations for an amount of 418.4 million euros.
Building on this good dynamic, and in view of the portfolio of tourist reservations to date which already offers good visibility over the first half, the Group forecasts an adjusted EBITDA of between €145 million and €150 million for the 2024 financial year. euros.
Franck Gervais, Managing Director of the Pierre & Vacances-Center Parcs Group, declared: “one year after its financial and capital restructuring, the Pierre & Vacances-Center Parcs Group is posting record results, with a recovery in profitability across all its brands and a significant cash conversion of its operational profitability. We are successfully deploying our ReInvention strategy, ambitious in the quality of our offer and rigorous in the operational execution of our plan. The Group is ahead of its roadmap, driven by motivated teams whom I sincerely thank. Our transformation continues to accelerate and for the 2023/24 financial year, I remain confident in the Group’s ability to achieve its medium-term objectives, while taking into account macro-economic uncertainties.” .
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