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Pierre & Vacances Center Parcs starts the fiscal year on a good note

After a 2012/2013 fiscal year marked by a drop in turnover (-9.3% over the entire fiscal year, due to a drop in real estate development revenues even though tourism revenues grew by 0.8%) but a return to operational profitability (current operational result of 2.6 million euro, against a loss of 7 million during the 2011/2012 fiscal year), Pierre & Vacances Center Parcs has started the 2013/2014 fiscal year on a positive trend in terms of revenue. At 263.7 million euro during the first quarter of the fiscal year, revenue has increased by 8.2% like-for-like as compared to last year. The global increase at the beginning of the fiscal year was supported by a 4.2% improvement, like-for-like, of tourism revenues, reaching 209.8 million euro. Overall, leasing represented 141.3 million euro, an increase of 5% thanks to an increase in net ADR (+3.2%) and the number of nights sold (+1,7%). Pierre & Vacances' revenue was vitalized by good results in mountain destinations, seaside destinations in the Antilles and Spain, French Premium residences, and also urban residences. Center Parcs Europe benefitted from the recovery of business in French villages and the increase of German and Dutch locations. The 27.6% like-for-like increase in real estate development revenues (at 53.9 million euro) primarily resulted from the extension of Center Parcs Moselle (10 million euro), the contribution from Center Parcs Bostalsee (8.2 million euro), and from Center Parcs Vienna (7.7 million euro), as well as the Senioriales (14.7 million euro).

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