Brief: French company Pierre & Vacances: signs agreements with creditors, cuts 2023 targets

Pierre Et Vacances SA

01/12/2021 21:06

Dec 1 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * AGREEMENTS SIGNED WITH GROUP'S MAIN CREDITORS UNDER
FRAMEWORK OF
CONCILIATION PROCEDURE
    * AFTER A FIRST HALF AFFECTED BY HEALTH CRISIS, HEALTHY
MOMENTUM
IN BUSINESS RECOVERY ON SUMMER PERIOD
    * PROGRESS IN PROCESS TO STRENGTHEN GROUP'S EQUITY
    * NEW FINANCING IS DUE TO MATURE IN SEPTEMBER 2022
    * NOW TARGETING GROUP EBITDA OF 137 MILLION EUROS IN 2023
(VERSUS
EUR 146 MILLION ANNOUNCED LAST MAY)
    * NOW TARGETING CASH FLOW BEFORE FINANCING OF EUR 34 MILLION
IN
2023 (VERSUS EUR 49 MILLION ANNOUNCED LAST MAY)
    * FULL-YEAR REVENUE FROM TOURISM BUSINESSES STEMMING FROM
OPERATIONAL REPORTING TOTALLED EUR 801.1 MILLION, DOWN 21.7%
RELATIVE TO PREVIOUS YEAR

Source text for Eikon:  ID:nBw25ClRVa 
Further company coverage:  PVAC.PA 

 (Reporting by Sudip Kar-Gupta)
 ((sudip.kargupta@thomsonreuters.com;))