Microsoft Word - TurnoverpressreleaseFY2015.docx




Paris, 15 October 2015



Growth in turnover during 2014/2015


1] Turnover

The turnover and financial figures communicated below stem from operating reporting with the presentation of joint ventures under proportional integration.


Euro millions

2014/2015

2013/2014

Evolutions

Tourism

  • Pierre & Vacances Tourisme Europe

  • Center Parcs Europe

431.6

223.4

208.2

409.1

224.0

185.1

+5.5%

-0.2%

+12.5%

o/w accommodation turnover

289.9

278.1

+4.2%

+3.4%

- Pierre & Vacances Tourisme Europe

151.6

153.9

-1.5%

+3.6%

- Center Parcs Europe

138.3

124.2

+11.4%

+3.1%


Property Development


39.2


112.5


-65.1%


Total Q4


470.8


521.5


-9.7%

Tourism

1,180.7

1,141.1

+3.5%

- Pierre & Vacances Tourisme Europe

594.5

590.4

+0.7%

- Center Parcs Europe

586.2

550.7

+6.4%

o/w accommodation turnover

779.9

763.0

+2.2%

+3.2%

- Pierre & Vacances Tourisme Europe

401.6

405.9

-1.1%

+3.4%

- Center Parcs Europe

378.3

357.1

+5.9%

+3.0%


Property Development


255.6


274.4


-6.8%


Total FY


1,436.3


1,415.4


+1.5%

Evolutions excluding stock

effects (*)


  • Pierre & Vacances Tourisme Europe: a net reduction in the assets operated following withdrawals from loss-making sites (Adagio Access residences and seaside resorts in particular) and the non-renewal of leases (seaside locations primarily in Q4).

    Center Parcs Europe: growth in network operated prompted by the opening on 29 June 2015 of the new Domaine des Bois aux Daims in the Vienne department.


    In IFRS accounting:


    • Q4 2014/2015 turnover stood at €451.9 million (€424.2 million for the tourism businesses and €27.7 million for property development) compared with €509.2 million in Q4 2013/2014 (€405.2 million for tourism and €104.0 million for property development).

    • Full-year 2014/2015 turnover totalled €1,382.5 million (€1,155.7 million for the tourism businesses and €226.7 million for property development) compared with €1,378.5 million in 2013/2014 (€1,121.3 million for tourism and €257.2 million for property development).

  • Tourism turnover Q4 2014/2015:

    Turnover from the tourism businesses rose 5.5% compared with the year-earlier period to stand at €431.6 million.


    Accommodation turnover came in at €289.9 million, showing an increase of 4.2% (+3.4% adjusted for supply effects), higher than the nine-month performance. Business during the summer was boosted by a clear increase in average letting rates in all destinations and an average occupancy rate of more than 82%.


     Pierre & Vacances Tourisme Europe contributed €151.6 million to accommodation turnover, showing a 3.6% same-structure increase and an improvement on the trend noted over the previous three quarters (+3.2% overall increase).

    The increase in turnover was primarily driven by healthy performances from seaside destinations (+6.0%), on the back of both higher net average letting rates (+4.0%) and occupancy rates (+2.0%). These performances stemmed especially from momentum in web sales both in and outside France and reflected the efficiency of the price animation policy rolled out over the summer.

     Center Parcs Europe contributed €138.3 million, representing growth of +3.1% excluding the impact of the newly opened Domaine des Bois aux Daims, the commercial success of which was also confirmed by an occupancy rate of more than 88% over the summer period.

    Q4 performances at the domains remained on the same trends as those already posted over the first nine months of the year (+3%), with turnover growth of 4.2% at the domains in Germany, the Netherlands and Belgium and a slight increase in the French domains.


    Supplementary income rose by 8.2%, driven by the success of marketing mandates, primarily in Spain.


    Over 2014/2015:


    Turnover from the tourism businesses totalled €1,180.7 million, up 3.5% relative to the previous year.


    Accommodation turnover rose by 2.2%, stemming primarily from an increase in average letting rates (+2.7%). Adjusted for supply effects, turnover growth worked out to 3.2%, driven by better business in all destinations: +5% at seaside resorts, +3% at mountain resorts and at the Center Parcs domains and +2% at city residences.

    International clients represented 55% of the group's accommodation turnover and sales generated by these clients were 2.7% ahead of the previous year's level.


  • Property development turnover
Q4 2014/2015 property development turnover stood at €39.2 million, primarily in view of contributions from Villages Nature (€9.7 million), Center Parcs in the Vienne (€2.5 million), the Premium residence in Flaine (€2.5 million) and Les Seniorales (€15.1 million).


Full-year 2014/2015 turnover totalled €255.6 million, close to the €274.4 million reported in 2013/2014.

Property reservations to date with individual and institutional investors represent turnover of €327 million, vs.

€291 million in the previous year.


2] Outlook


The portfolio of reservations to date for Q1 2015/2016 confirms ongoing growth in the tourism businesses at both Pierre & Vacances Tourisme Europe, with an increase in all destinations, and at Center Parcs Europe (even excluding the impact of the new Domaine des Bois aux Daims).


For further information:

Investor Relations and Strategic Operations Press Relations

Emeline Lauté Valérie Lauthier

+33 (0) 1 58 21 54 76 +33 (0) 1 58 21 54 61

infofin@fr.groupepvcp.com valerie.lauthier@fr.groupepvcp.com

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