Brief: Pierre Et Vacances FY Group Net Result Swings To Loss At Eur 20.6 Million

Pierre Et Vacances SA

01/12/2023 07:15

Dec 1 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * ADAGIO OCCUPANCY RATE WAS UP 3.2 POINTS TO 75.6% OVER
ENTIRE
PERIOD
    * HUGE IMPROVEMENT IN 2023 OPERATING PERFORMANCE COMPARED
WITH
2022 AND 2019
    * GROUP EXPECTS 2023/2024 ADJUSTED EBITDA OF BETWEEN EUR 145
MILLION AND EUR 150 MILLION
    * FY REVENUE FROM TOURISM BUSINESSES OF EUR 1,742 MILLION
(INITIAL
GUIDANCE AT EUR 1,660 MILLION, REVISED IN APRIL 2023 FOR MORE
THAN EUR 1,700 MILLION), UP 12.8% RELATIVE TO 2022
    * FY GROUP ADJUSTED EBITDA OF EUR 137 MILLION (INITIAL
GUIDANCE AT
EUR 105 MILLION, REVISED IN APRIL 2023 FOR MORE THAN EUR 130
MILLION), UP 30% COMPARED WITH 2022
    * FY OPERATING CASH FLOW GENERATION OF EUR 56 MILLION
(INITIAL
GUIDANCE AT EUR 37 MILLION, REVISED IN APRIL 2023 FOR MORE THAN
EUR 50 MILLION)
    * FY GROUP NET LOSS AMOUNTED TO EUR 20.6 MILLION VERSUS
PROFIT OF
EUR 325 MILLION YEAR AGO
    * AT THE CLOSING DATE OF THE ACCOUNTS FOR THE YEAR ENDED 30
SEPTEMBER 2023, THE GROUP WAS IN THE PROCESS OF SELLING OFF THE
SENIORIALES RESIDENTIAL LEASING ACTIVITY
    * GROUP WILL UPDATE FINANCIAL GUIDANCE PROVIDED PREVIOUSLY
FOR
2025 AND 2026 AT A CAPITAL MARKETS DAY TO BE HELD IN COMING
MONTHS

Source text for Eikon:  ID:nBw34l4wpa 
Further company coverage:  PVAC.PA 

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