Pierre & Vacances: achieves a significant recovery post-restructuring


After having accumulated a debt of nearly 1.1 billion euros with the Covid-19 crisis, the Pierre & Vacances group has exceeded its pre-crisis level of activity. Investors have also welcomed this improvement this morning, but the action is now stable at 5.12 euros.

In total, the group’s turnover amounts to 1.16 billion euros over the first 9 months of the 2021/2022 financial year, which represents a jump of 131% compared to 2020/2021. The specialist in leisure residences stresses that he has exceeded his pre-crisis level.

In detail, accommodation revenue came to 755.9 million euros, up 10.2% compared to 2019. Revenue from other tourism activities reached 215.1 million euros, up of 11.7% relatively 2019.

Pierre & Vacances points out that tourist bookings are up for the summer season, a crucial period for the company.

Given their level as of the fourth quarter of the 2021/2022 financial year, the group currently anticipates, in comparison with the fourth quarter of 2018/2019 (before Covid), strong growth in activity for Center Parcs and a increase in business for Pierre & Vacances in France.

It also forecasts a significant increase for the activities of maeva.com and an acceleration of the recovery of the activity of the Adagio residences, with an expected growth in turnover compared to the summer of 2019.

The restructuring operations had been approved by shareholders and creditors at the beginning of the month. Pierre & Vacances is now looking to the future.



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