Brief: Pierre Et Vacances Revises 2021-2022 Forecasts

Pierre Et Vacances SA

31/05/2022 07:33

May 31 (Reuters) - Pierre et Vacances SA  PVAC.PA :
    * OUTLOOK: MAIN TARGETS INCLUDE REVENUE FROM TOURISM
ACTIVITIES:
€1,620 MILLION IN 2023 AND €1,795 MILLION IN 2025
    * OUTLOOK: MAIN TARGETS INCLUDE GROUP ADJUSTED EBITDA: €105
MILLION IN 2023 AND €170 MILLION IN 2025, PRIMARILY GENERATED BY
TOURISM BUSINESSES
    * OUTLOOK: MAIN TARGETS INCLUDE GROUP OPERATING CASH FLOWS:
€37
MILLION IN 2023 AND €65 MILLION IN 2025
    * OUTLOOK: THE GROUP ALSO PLANS TO FINANCE €381 MILLION IN
CAPEX
OVER 2022-2025, IN ADDITION TO ALMOST €290 MILLION IN
INVESTMENTS FINANCED BY THE OWNERS OF CENTER PARCS DOMAINS OVER
THIS SAME PERIOD
    * OUTLOOK: THE BUSINESS PLAN HAS ALSO BEEN PROJECTED OUT TO
2026,
WITH THE FOLLOWING TARGETS: REVENUE FROM TOURISM BUSINESSES OF
€1,877 MILLION; GROUP ADJUSTED EBITDA OF €187 MILLION; GROUP
OPERATING CASH FLOWS OF €93 MILLION
    * OUTLOOK: CONCERNING THE 2021/2022 FINANCIAL YEAR UNDERWAY,
THE
GROUP’S FORECASTS ARE CURRENTLY HIGHER THAN PREVIOUS
COMMUNICATIONS
    * OUTLOOK FY 2021/2022: REVENUE FROM THE TOURISM BUSINESSES
AHEAD
OF BUDGET (UP ALMOST 7% COMPARED TO REVENUE IN 2019)
    * OUTLOOK FY 2021/2022: ADJUSTED EBITDA ALSO AHEAD OF
BUDGET,
ESTIMATED AT €96 MILLION EXCLUDING NON-RECURRING INCOME
    * OUTLOOK FY 2021/2022: ADJUSTED EBITDA HAS BEEN REVISED
UPWARDS
RELATIVE TO THE PREVIOUS AMOUNT COMMUNICATED ON 22 APRIL 2022
(GROUP ADJUSTED EBITDA OF €83 MILLION EXCLUDING NON-RECURRING
ITEMS)
    * OUTLOOK FY 2021/2022: CASH POSITION CURRENTLY ESTIMATED AT
€451
MILLION FOR 30 SEPTEMBER 2022 (VERSUS. €438 MILLION COMMUNICATED
ON 22 APRIL 2022), INCLUDING THE BENEFIT OF THE ABOVE-MENTIONED
AID AND AFTER COMPLETION OF THE RESTRUCTURING TRANSACTIONS

Source text for Eikon:  ID:nBwb5gM5ya 
Further company coverage:  PVAC.PA 

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