Pierre & Vacances-Center Parcs jumped 8% after releasing its results for the 2024-25 fiscal year, which, while slightly below expectations, offer strong visibility for the first half of 2025-26, according to Oddo BHF.
The tourism group posted a positive net income of 40.6 million euros for the past fiscal year, compared with 28.7 million euros previously. Adjusted EBITDA rose 3.9% to 181 million euros, though it fell short of the 186 million euros consensus estimate.
"This performance is primarily due to the dynamism of tourism activities (an additional 69 million euros in revenue), as well as savings generated through the rigorous execution of the cost reduction plan," noted Oddo BHF.
The firm also highlighted a significantly stronger portfolio of tourism bookings to date for the first half of 2025-26 across all its brands, representing more than two-thirds of the budgeted target for the period.
"We are confident in the group's ability to continue successfully executing its strategic plan," the analyst added, maintaining a "outperform" rating and a price target of 2.2 euros on the stock.
