Cash flow Pierre & Vacances

Equities

VAC

FR0000073041

Hotels, Motels & Cruise Lines

Real-time Euronext Paris Other stock markets 04:41:23 2025-01-21 am EST			5-day change	1st Jan Change
1.560 ^EUR	+0.26%		+4.84%	+3.04%

Dec. 04	PIERRE & VACANCES : Oddo BHF confirms its recommendation	CF
Dec. 04	Pierre & Vacances: return to positive net income in 2024	CF

774bc02.xgocOYJ5_d0CrXy10QgqShUzYVcFMsoc8sXWjUNzBwc.61BYbPEmiZdwnkrP4UphekpBLz81aoR3y_C1oHRKdF2RRixX1UnO6Wn3Gw

Published financial data: PIERRE & VACANCES

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2020	2021	2022	2023	2024
Revenues	1.17B	937M	1.61B	1.79B	1.82B
Total Revenues	1.17B	937M	1.61B	1.79B	1.82B
Cost of Goods Sold, Total	941M	797M	1.08B	1.22B	1.24B
Gross Profit	231M	141M	534M	570M	577M
Depreciation & Amortization - (IS)	310M	271M	264M	302M	331M
Other Operating Expenses	19.74M	-5.46M	-8.24M	43.41M	-5.61M
Other Operating Expenses, Total	330M	266M	256M	345M	325M
Operating Income	-99M	-126M	278M	225M	252M
Interest Expense, Total	-171M	-224M	-263M	-248M	-220M
Interest And Investment Income	1.18M	27K	827K	11.64M	11.98M
Net Interest Expenses	-170M	-224M	-263M	-236M	-208M
Income (Loss) On Equity Invest.	-25.18M	-24.83M	-14.93M	6.6M	8.74M
Other Non Operating Income (Expenses)	-628K	-871K	-53.39M	-3.28M	2.99M
EBT, Excl. Unusual Items	-294M	-375M	-52.76M	-7.84M	55.59M
Restructuring Charges	-97.97M	-26.14M	-29.89M	-44.5M	-24.3M
Impairment of Goodwill	-18.93M	-	-	-	-
Gain (Loss) On Sale Of Assets	-2.66M	-1.81M	-3.82M	-1.21M	-4.35M
Asset Writedown	-8.55M	-5.8M	-7.76M	-	-
Other Unusual Items	-	-	418M	9.64M	1.35M
EBT, Incl. Unusual Items	-422M	-409M	324M	-43.9M	28.29M
Income Tax Expense	2.63M	17.53M	32.92M	19.31M	740K
Earnings From Continuing Operations	-425M	-426M	291M	-63.22M	27.55M
Net Income to Company	-425M	-426M	291M	-63.22M	27.55M
Minority Interest	-145K	-67K	-184K	116K	-7.52M
Net Income - (IS)	-425M	-426M	291M	-63.1M	20.03M
Net Income to Common Incl Extra Items	-425M	-426M	291M	-63.1M	20.03M
Net Income to Common Excl. Extra Items	-425M	-426M	291M	-63.1M	20.03M
Per Share Items
Net EPS - Basic	-44.51	-43.67	10.28	-0.14	0.04
Basic EPS - Continuing Operations	-44.51	-43.67	10.28	-0.14	0.04
Basic Weighted Average Shares Outstanding	9.56M	9.76M	28.32M	454M	454M
Net EPS - Diluted	-44.51	-43.67	10.28	-0.14	0.04
Diluted EPS - Continuing Operations	-44.51	-43.67	10.28	-0.14	0.04
Diluted Weighted Average Shares Outstanding	9.56M	9.76M	28.32M	454M	454M
Normalized Basic EPS	-19.27	-24.02	-1.17	-0.01	0.06
Normalized Diluted EPS	-19.27	-24.02	-1.17	-0.01	0.06
Supplemental Items
EBITDA	-58.54M	-84.32M	314M	266M	303M
EBITA	-86.03M	-118M	286M	234M	260M
EBIT	-99M	-126M	278M	225M	252M
Effective Tax Rate - (Ratio)	-0.62	-4.29	10.16	-43.98	2.62
Total Current Taxes	584K	2.24M	14.98M	23.02M	-
Total Deferred Taxes	2.04M	15.29M	17.95M	-3.71M	-
Normalized Net Income	-184M	-234M	-33.16M	-4.78M	27.22M
Interest on Long-Term Debt	156M	190M	222M	224M	197M
Non-Cash Pension Expense	40K	96K	71K	306K	476K
Supplemental Operating Expense Items
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	2.44M	619K	-	6.66M	-
Total Stock-Based Compensation	2.44M	619K	-	6.66M	-

Fiscal Period: September	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	205M	447M	470M	469M	86.89M
Total Cash And Short Term Investments	205M	447M	470M	469M	86.89M
Accounts Receivable, Total	280M	221M	203M	172M	170M
Other Receivables	146M	174M	166M	217M	-
Notes Receivable	10.99M	8.87M	8.23M	5.48M	-
Total Receivables	437M	404M	377M	394M	170M
Inventory	151M	142M	147M	136M	122M
Prepaid Expenses	17.81M	52.55M	62.4M	44.4M	-
Other Current Assets, Total	146M	128M	115M	90.92M	286M
Total Current Assets	957M	1.17B	1.17B	1.13B	665M
Gross Property Plant And Equipment	4.48B	4.26B	4.37B	5.06B	-
Accumulated Depreciation	-1.96B	-1.98B	-2.03B	-2.23B	-
Net Property Plant And Equipment	2.53B	2.27B	2.34B	2.84B	2.74B
Long-term Investments	7.4M	2.13M	7.84M	16.12M	22.17M
Goodwill	140M	138M	139M	140M	142M
Other Intangibles, Total	125M	123M	123M	130M	141M
Loans Receivable Long-Term	35.87M	48.29M	50.12M	53.88M	-
Deferred Tax Assets Long-Term	87.6M	73.35M	60.39M	47.12M	75.62M
Other Long-Term Assets, Total	-	-	7.8M	-	45.4M
Total Assets	3.88B	3.83B	3.9B	4.36B	3.83B
Liabilities
Accounts Payable, Total	266M	343M	311M	368M	336M
Accrued Expenses, Total	135M	183M	193M	205M	-
Short-term Borrowings	7.05M	226M	15.26M	1.74M	-
Current Portion of Long-Term Debt	10.7M	226M	3.73M	59.15M	14.95M
Current Portion of Leases	213M	175M	193M	213M	234M
Unearned Revenue Current, Total	172M	127M	87.47M	50.07M	-
Other Current Liabilities	339M	367M	328M	445M	582M
Total Current Liabilities	1.14B	1.65B	1.13B	1.34B	1.17B
Long-Term Debt	518M	525M	385M	329M	38.89M
Long-Term Leases	2.67B	2.54B	2.61B	3.08B	2.97B
Pension & Other Post Retirement Benefits	14M	14.36M	10.36M	10.18M	-
Deferred Tax Liability Non Current	10.09M	11.42M	17.19M	425K	-
Other Non Current Liabilities	82.88M	79.11M	105M	21.84M	40.31M
Total Liabilities	4.44B	4.82B	4.26B	4.78B	4.21B
Common Stock, Total	98.94M	98.94M	4.54M	4.54M	4.54M
Additional Paid In Capital	20.36M	20.36M	353M	353M	353M
Retained Earnings	-425M	-426M	291M	-63.1M	20.03M
Treasury Stock	-5.48M	-1.56M	-1.55M	-1.56M	-1.56M
Comprehensive Income and Other	-250M	-678M	-1B	-704M	-758M
Total Common Equity	-561M	-987M	-356M	-411M	-382M
Minority Interest	168K	368K	551K	-14.9M	390K
Total Equity	-561M	-986M	-356M	-426M	-381M
Total Liabilities And Equity	3.88B	3.83B	3.9B	4.36B	3.83B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.63M	9.8M	454M	454M	454M
ECS Total Common Shares Outstanding	9.63M	9.8M	454M	454M	454M
Book Value / Share	-58.3	-100.74	-0.78	-0.9	-0.84
Tangible Book Value	-826M	-1.25B	-618M	-681M	-665M
Tangible Book Value Per Share	-85.82	-127.39	-1.36	-1.5	-1.46
Total Debt	3.42B	3.69B	3.2B	3.68B	3.25B
Net Debt	3.21B	3.25B	2.73B	3.21B	3.17B
Debt Equivalent of Unfunded Proj. Benefit Obligation	15.26M	15.55M	11.58M	11.42M	14.55M
Minority Interest, Total (Incl. Fin. Div)	168K	368K	551K	-14.9M	390K
Equity Method Investments, Total	6.6M	1.33M	7.03M	15.34M	22.17M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	140M	144M	47.69M	71.08M	-
Inventories - Finished Goods, Total	28.17M	15.56M	94.79M	89.49M	-
Inventories - Others	5.76M	6.33M	9.58M	8.34M	-
Land - (BS)	22.52M	23.73M	25.44M	40.07M	-
Buildings, Total	143M	141M	137M	128M	-
Machinery, Total	286M	241M	202M	202M	-
Full Time Employees	12.6K	12K	12K	12.6K	13K
Accumulated Allowance for Doubtful Accounts (Supple)	11.8M	11.24M	13.05M	16.41M	-
Order Backlog	297M	226M	-	-	-

Fiscal Period: September	2020	2021	2022	2023	2024
Net Income	-425M	-426M	291M	-63.1M	20.03M
Depreciation & Amortization - CF	287M	257M	229M	257M	286M
Amortization of Goodwill and Intangible Assets - (CF)	12.97M	7.12M	8.23M	8.5M	7.68M
Depreciation & Amortization, Total	300M	264M	237M	266M	293M
(Gain) Loss From Sale Of Asset	-1.49M	1.09M	4.49M	-7.92M	3.32M
(Income) Loss On Equity Investments - (CF)	25.18M	24.83M	14.93M	-6.6M	-8.74M
Stock-Based Compensation (CF)	2.44M	619K	-	6.66M	9.24M
Other Operating Activities, Total	36.94M	26.19M	-359M	319K	-11.73M
Change In Accounts Receivable	-30.73M	72.48M	18.92M	4.2M	56.83M
Change In Inventories	53.56M	10.41M	-263K	9.59M	13.85M
Change In Accounts Payable	-21M	81.51M	-36.15M	43.13M	-32.46M
Change in Other Net Operating Assets	71.92M	-44.95M	-86.08M	66.6M	-57.85M
Cash from Operations	11.1M	9.87M	85.73M	319M	286M
Capital Expenditure	-33.05M	-31.75M	-44.87M	-92.5M	-68.6M
Sale of Property, Plant, and Equipment	5.46M	515K	649K	417K	11K
Cash Acquisitions	261K	782K	-5.44M	49.3M	-1.24M
Divestitures	-	-60K	-	-46K	-30.11M
Sale (Purchase) of Real Estate properties	-280K	-2.26M	-4.98M	-9.88M	-2.23M
Sale (Purchase) of Intangible assets	-12.28M	-5.19M	-9.05M	-15.48M	-19.48M
Investment in Marketable and Equity Securities, Total	499K	-12.34M	-10.05M	-12.82M	7.2M
Other Investing Activities, Total	1.52M	1.65M	59K	330K	2.13M
Cash from Investing	-37.87M	-48.66M	-73.68M	-80.68M	-112M
Long-Term Debt Issued, Total	287M	218M	139M	4.45M	51.15M
Total Debt Issued	287M	218M	139M	4.45M	51.15M
Long-Term Debt Repaid, Total	-175M	-156M	-308M	-228M	-607M
Total Debt Repaid	-175M	-156M	-308M	-228M	-607M
Issuance of Common Stock	98K	-	200M	171K	63K
Repurchase of Common Stock	-	-34K	-26K	-37K	-7K
Other Financing Activities, Total	-1K	35K	-130K	-585K	68K
Cash from Financing	112M	61.47M	31.02M	-224M	-555M
Foreign Exchange Rate Adjustments	-	-	-	-	1K
Miscellaneous Cash Flow Adjustments	1K	-	191M	-1.59M	1.59M
Net Change in Cash	84.76M	22.68M	234M	12.06M	-380M
Supplemental Items
Cash Interest Paid	-	190M	222M	224M	197M
Cash Income Tax Paid (Refund)	12.86M	172K	-2.95M	34.62M	24.74M
Levered Free Cash Flow	113M	141M	118M	335M	162M
Unlevered Free Cash Flow	220M	281M	283M	490M	300M
Change In Net Working Capital	-25.07M	-132M	74.8M	-185M	63.24M
Net Debt Issued / Repaid	111M	61.46M	-169M	-224M	-556M

Fiscal Period: September	2020	2021	2022	2023	2024
Profitability
Return on Assets	-2.29	-2.03	4.49	3.41	3.85
Return on Total Capital	-3.58	-2.82	6.26	4.61	5.14
Return On Equity %	274.45	55.1	-43.41	16.18	-6.83
Return on Common Equity	274.38	55.09	-43.35	16.45	-5.05
Margin Analysis
Gross Profit Margin %	19.69	14.99	33.14	31.91	31.76
EBITDA Margin %	-5	-9	19.48	14.87	16.65
EBITA Margin %	-7.34	-12.63	17.76	13.08	14.29
EBIT Margin %	-8.45	-13.39	17.25	12.6	13.87
Income From Continuing Operations Margin %	-36.29	-45.49	18.07	-3.54	1.52
Net Income Margin %	-36.3	-45.5	18.05	-3.53	1.1
Net Avail. For Common Margin %	-36.3	-45.5	18.05	-3.53	1.1
Normalized Net Income Margin	-15.72	-25.02	-2.06	-0.27	1.5
Levered Free Cash Flow Margin	9.66	15.1	7.32	18.75	8.91
Unlevered Free Cash Flow Margin	18.77	30.03	17.52	27.42	16.48
Asset Turnover
Asset Turnover	0.43	0.24	0.42	0.43	0.44
Fixed Assets Turnover	0.83	0.39	0.7	0.69	0.65
Receivables Turnover (Average Receivables)	4.4	3.74	7.6	9.54	10.63
Inventory Turnover (Average Inventory)	5.73	5.44	7.46	8.6	9.63
Short Term Liquidity
Current Ratio	0.84	0.71	1.04	0.84	0.57
Quick Ratio	0.55	0.51	0.74	0.64	0.22
Operating Cash Flow to Current Liabilities	0.01	0.01	0.08	0.24	0.24
Days Sales Outstanding (Average Receivables)	83.24	97.71	48.01	38.27	34.44
Days Outstanding Inventory (Average Inventory)	63.92	67.13	48.94	42.43	38
Average Days Payable Outstanding	121.41	141	110.15	102.78	105.01
Cash Conversion Cycle (Average Days)	25.75	23.85	-13.2	-22.07	-32.57
Long Term Solvency
Total Debt/Equity	-609.4	-374.52	-901.15	-865.18	-853.65
Total Debt / Total Capital	119.63	136.43	112.48	113.07	113.27
LT Debt/Equity	-568.35	-311.05	-841.4	-800.76	-788.27
Long-Term Debt / Total Capital	111.57	113.31	105.02	104.65	104.59
Total Liabilities / Total Assets	114.47	125.74	109.12	109.77	109.95
EBIT / Interest Expense	-0.58	-0.56	1.06	0.91	1.14
EBITDA / Interest Expense	1.17	0.62	1.96	1.98	2.48
(EBITDA - Capex) / Interest Expense	0.98	0.48	1.79	1.61	2.17
Total Debt / EBITDA	17.06	26.65	6.22	7.51	5.96
Net Debt / EBITDA	16.03	23.43	5.3	6.55	5.81
Total Debt / (EBITDA - Capex)	20.42	34.58	6.81	9.25	6.82
Net Debt / (EBITDA - Capex)	19.19	30.39	5.81	8.07	6.64
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-26.55	-20	72.04	10.8	1.76
Gross Profit, 1 Yr. Growth %	150.63	-39.1	286.27	6.71	1.27
EBITDA, 1 Yr. Growth %	-187.4	44.3	-509.39	-15.48	2.33
EBITA, 1 Yr. Growth %	-368.15	37.64	-337.4	-16.14	-1.55
EBIT, 1 Yr. Growth %	-469.19	26.79	-317.73	-16.73	-1.28
Earnings From Cont. Operations, 1 Yr. Growth %	1.19K	0.3	-168.32	-121.7	-143.58
Net Income, 1 Yr. Growth %	1.19K	0.28	-168.26	-121.68	-131.74
Normalized Net Income, 1 Yr. Growth %	-5.17K	27.36	-85.94	-87.42	92.54
Diluted EPS Before Extra, 1 Yr. Growth %	1.19K	-1.88	-123.54	-101.36	-128.57
Accounts Receivable, 1 Yr. Growth %	11.15	-21.11	-8.32	-15.35