Brief: French holiday resort group Pierre & Vacances targeting EBITDA of 275 mln euros in 2025 as it unveils new strategy

Pierre Et Vacances SA

18/05/2021 07:06

May 18 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * THE PIERRE & VACANCES-CENTER PARCS GROUP PRESENTS ITS NEW
STRATEGIC PLAN REINVENTION 2025
    * A RADICAL MODERNISATION AND PREMIUMISATION ACROSS GROUP
    * TO BOOST PERFORMANCE: EUR 275 MILLION IN EBITDA IN 2025
AND AS
MUCH OPERATING CASH FLOW GENERATION OVER 2022-2025
    * TO BOOST PERFORMANCE: EUR 275 MILLION IN EBITDA IN 2025
AND AS
MUCH OPERATING CASH FLOW GENERATION OVER 2022-2025
    * A SWITCH TO OFFERS THAT ARE 100% EXPERIENCE-BASED,
PERSONALISED
AND SERVICE-FOCUSED
    * ADDITIONAL AND CONTINUOUS INVESTMENTS: EUR 430 MILLION
FINANCED
BY GROUP OVER 5 YEARS, 60% OF WHICH FOR CENTER PARCS DOMAINS
    * REVENUE ANTICIPATED FROM TOURISM BUSINESSES OF EUR 1,838
MILLION
IN 2025 (EUR 1,587 MILLION IN 2023),
    * A MASSIVE RENOVATION PLAN FOR CENTER PARCS DOMAINS: EUR
715
MILLION FINANCED FOR 90% BY OUR INSTITUTIONAL PARTNERS, FOR
RENOVATION OF 100% OF DOMAINS
    * A REDUCTION IN SUPPORT FUNCTION EXPENSES TO REACH 7.5% OF
REVENUE IN 2025 (VERSUS. 12.6% IN 2019)
    * TWO NEW "WELL-BEING" AND "ORGANIC/LOCAL" STRATEGIC
PARTNERSHIPS
BY END OF JUNE-2021
    * SEES CASH FLOWS BEFORE FINANCING OF EUR 176M IN 2025 (EUR
49
MILLION IN 2023), OR OPERATING CASH GENERATION OF EUR 273
MILLION OVER 2022-2025
    * TARGETING CASH FLOWS BEFORE FINANCING OF EUR 176M IN 2025
(EUR
49 MILLION IN 2023), OR OPERATING CASH GENERATION OF EUR 273
MILLION OVER 2022-2025
    * CURRENT OPERATING MARGIN ON TOURISM BUSINESSES OUGHT TO
REACH 5%
IN 2023 AND 10% IN 2025

Source text for Eikon:  ID:nBwc2XLysa 
Further company coverage:  PVAC.PA 

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