Stable financial results despite an unfavourable calendar effect

For the first half of the 2024/2025 financial year (ended 31 March), economic revenue amounted to €802.1 million, down slightly by -0.9% compared to the same period last year. This change is mainly due to a shift in school holidays (Easter), which were moved to the second half of the year.

Adjusted EBITDA amounted to -€40.3 million, compared with -€21.4 million in H1 2023/24, in line with seasonality and the elimination of exceptional items recorded last year. Nevertheless, the Group is maintaining its target of adjusted EBITDA in excess of €180 million for the full year, supported by solid commercial momentum and operational optimisation levers.

‘This half-year demonstrates the strength of our business model, the resilience of our operating performance despite an unfavourable calendar effect, and the very positive impact of our customer experience-focused strategy.’ – Franck Gervais, Chief Executive Officer of Pierre & Vacances-Center Parcs

Customer satisfaction levels up across all brands

The customer experience-focused strategy, a pillar of the Group's transformation, continues to bear fruit. The overall satisfaction index has risen significantly:

• +4 points for Center Parcs
• +4.5 points for Pierre & Vacances
• +6 points for maeva
• +1 point for Adagio

This improvement confirms the move upmarket in terms of infrastructure and services, particularly with the continuation of major renovations in several areas (e.g. Les Hauts de Bruyères, with €65 million invested).

Park deployment: European expansion and diversification of the offering

Pierre & Vacances-Center Parcs is stepping up its international development, with six new openings planned in Spain and Andorra in 2025. The Group is thus consolidating its presence in areas with strong tourist appeal and high growth.

Another strategic milestone is the announced opening of the 30th Center Parcs resort, Nordborg Resort in Denmark, scheduled for 20 June 2025. This resort, the Group's first in Scandinavia, represents a key step in the European expansion of the Center Parcs brand.

Franck Gervais, CEO of Pierre & Vacances - Center Parcs, emphasises:

‘Throughout the winter season, the Group has performed well and seen an increase in customer satisfaction, despite a difficult economic situation. We have been very successful in the mountains, with an occupancy rate of 96% in the second quarter of the financial year. In these turbulent times, local family holidays remain a safe haven, and the Group's positioning is perfectly in line with our customers' expectations for local, meaningful tourism. The level of bookings to date for the second half of the year confirms the momentum of our activities and enables the Group to consolidate its growth trajectory for the full financial year.’

Quarter after quarter, Pierre & Vacances-Center Parcs confirms the robustness of its strategic repositioning. Despite calendar uncertainties, the Group is consolidating its economic and operational performance while strengthening its brand equity and customer loyalty. This pragmatic trajectory, driven by rigorous execution and targeted investment choices, places the Group in a favourable position to seize growth opportunities in Europe.