Brief: Pierre Et Vacances FY Net Loss Widens To EUR 336.1 Mln

Pierre Et Vacances SA

26/11/2020 06:52

Nov 26 (Reuters) - PIERRE ET VACANCES SA  PVAC.PA :
    * REPORTED ON WEDNESDAY FY REVENUE EUR 1.30 BLN VS EUR 1.67
BLN YR
AGO
    * FY REVENUE FROM TOURISM BUSINESSES AT EUR 1.02 BLN, DOWN
25.1%
    * FY NET LOSS EUR 336.1 MLN VS LOSS OF EUR 33.0 MLN YR AGO
    * FY CURRENT OPERATING LOSS EUR 171.5 MLN VS PROFIT OF EUR
30.9
MLN YR AGO
    * END-SEPT NET FINANCIAL DEBT ON EUR 330.6 MLN VS EUR 130.9
MLN YR
AGO
    * ON COVID-19 CRISIS: GROUP HAD TO CLOSE ALL ITS PV AND CP
SITES
IN FRANCE, GERMANY AND BELGIUM, FOR MINIMUM FOUR WEEKS FROM NOV.
2
    * ON COVID-19 CRISIS: ONLY THE CENTER PARCS DOMAINS IN THE
NETHERLANDS REMAIN OPEN, ALBEIT WITH A REDUCED OFFER 
    * IN CENTER PARCS DOMAINS NETHERLANDS: BARS AND RESTAURANTS
CLOSED, LIMITED NUMBER OF PEOPLE IN AQUAMUNDO
    * FY 2020/2021 WILL BE AFFECTED BY SECOND WAVE BUT CURRENT
CASH
LEVEL IS SUFFICIENT TO OVERCOME THIS NEW EPISODE
    * GROUP'S FUNDAMENTALS SHOULD ENABLE IT TO REBOUND IN THE
COMING
MONTHS, RESTORE TRAJECTORY OF CHANGE UP PLAN

    
 Source text: https://bit.ly/39iPH5E
 Further company coverage:  PVAC.PA  
   


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