Brief: Pierre & Vacances Expects Cash Flow Of Around 350 Million Euros Over 2020-2024

Pierre Et Vacances SA

29/01/2020 06:44

Jan 29 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * CENTER PARCS GROUP PRESENTS ITS NEW STRATEGIC PLAN CHANGE
UP1
    * A CURRENT OPERATING MARGIN TARGET FOR TOURISM BUSINESS
LINES OF
5% FOR 2022 AND 9% FOR 2024
    * TARGETS AVERAGE ANNUAL GROWTH IN ACCOMMODATION REVENUE OF
6%
(4.7% SAME-STRUCTURE GROWTH)
    * PLAN AIMS TO BOOST ORGANIC GROWTH IN GROUP'S BUSINESSES BY
OPTIMISING CURRENT OPERATIONS,
    * RESULTS, TOGETHER WITH A EUR 50 MILLION COST SAVINGS PLAN,
EXPECTED TO GENERATE CASH FLOW OF AROUND EUR 350 MILLION OVER
2020-2024
    * TOTAL AMOUNT OF SAVINGS EXPECTED FOR 2024 IS EUR 50M (EUR
30M
FROM REORGANISATION AND EUR 20M FROM PROCUREMENT), 70% OF WHICH
TO BE DELIVERED BY END OF 2021
    * PLAN SHOULD ENABLE US TO RESTORE PROFITABILITY AS OF 2021
- CEO

Source text for Eikon:  ID:nBw7YjNKa 
Further company coverage:  PVAC.PA 

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