View ValuationPierre et Vacances 将来の成長Future 基準チェック /26Pierre et Vacances利益と収益がそれぞれ年間19.3%と4.5%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に16.6% 18.5%なると予測されています。主要情報19.3%収益成長率18.51%EPS成長率Hospitality 収益成長69.6%収益成長率4.5%将来の株主資本利益率16.55%アナリストカバレッジLow最終更新日23 Jun 2026今後の成長に関する最新情報お知らせ • Apr 24Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024Pierre et Vacances SA provided earnings guidance for the full year 2024. The group expects full-year revenue growth in line with its targets and is confident in a sharp increase in operating profitability, driven especially by strict execution of the Reinvention plan.お知らせ • Jul 21Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023Pierre et Vacances SA provided earnings guidance for the fourth quarter of 2022/2023. In view of the portfolio of reservations to date, the Group is currently expecting growth in revenue in Fourth Quarter 2022/2023 compared with Fourth Quarter 2021/2022. This growth will be less extensive than that seen over the first nine months of the year given the historically high base provided by the summer of 2022, which was particularly robust.お知らせ • May 31Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter and Full Year of 2021/2022Pierre et Vacances SA provided earnings guidance for the fourth quarter and full year of 2021/2022. Business growth continues in the fourth quarter, with performances expected to be higher than fourth quarter of 2019.For the full year, Revenue from the tourism businesses ahead of budget (up almost 7% compared to revenue in 2019).Breakeven Date Change • Mar 16Forecast breakeven date moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €4.52m in 2022. Earnings growth of 148% is required to achieve expected profit on schedule.Breakeven Date Change • Jul 27Forecast breakeven pushed back to 2023The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% per year to 2022. The company is expected to make a profit of €37.2m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule.Breakeven Date Change • Jun 04Forecast breakeven moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 26% to 2021. The company is expected to make a profit of €1.75m in 2022. Average annual earnings growth of 96% is required to achieve expected profit on schedule.すべての更新を表示Recent updatesお知らせ • Jun 23Mubadala Capital entered into a bid to acquire Pierre et Vacances SA (ENXTPA:VAC) from Benefits Street Partners Limited and Fidera Limited for approximately €880 million.Mubadala Capital entered into a bid to acquire Pierre et Vacances SA (ENXTPA:VAC) from Benefits Street Partners Limited and Fidera Limited for approximately €880 million on June 19, 2026. As part of consideration €877.5 million is being paid towards common equity of Pierre et Vacances SA. The transaction is subject to subject to antitrust regulations and approval by regulatory board / committee. The Board of Directors of the Company, at a meeting held on June 19, 2026, has unanimously welcomed favorably the proposed transaction, without prejudice to the reasoned opinion to be issued by the Board of Directors in the context of the contemplated tender offer. However, there can be no assurance that the transaction will materialize if MC does not receive, by July 17, 2026, undertakings from shareholders of the Company representing at least 80% of its outstanding share capital to tender their ordinary shares to the tender offer. In their capacity as directors, representatives of Fidera Limited, Benefit Street Partners and Pastel Holding, the Company’s largest shareholders representing, in the aggregate, 58.6% of the outstanding share capital of the Company, expressed their support for the proposed transaction at that meeting.New Risk • Jun 15New major risk - Negative shareholders equityThe company has negative equity. Total equity: -€435m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Negative equity (-€435m).New Risk • Jun 04New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Negative equity (-€434m). Large one-off items impacting financial results.Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Victoire Aubry was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Jan 09Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026. Location: 84 rue charles michels, saint denis Franceお知らせ • Oct 28Pierre et Vacances SA to Report First Half, 2026 Results on May 28, 2026Pierre et Vacances SA announced that they will report first half, 2026 results on May 28, 2026お知らせ • Jan 09Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025. Location: hotel des arts et metiers, 9 bis avenue d iena, paris Franceお知らせ • Sep 06Pierre et Vacances SA to Report Fiscal Year 2025 Results on Dec 04, 2025Pierre et Vacances SA announced that they will report fiscal year 2025 results on Dec 04, 2025お知らせ • Sep 05Pierre et Vacances SA to Report First Half, 2025 Results on May 28, 2025Pierre et Vacances SA announced that they will report first half, 2025 results on May 28, 2025お知らせ • Apr 24Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024Pierre et Vacances SA provided earnings guidance for the full year 2024. The group expects full-year revenue growth in line with its targets and is confident in a sharp increase in operating profitability, driven especially by strict execution of the Reinvention plan.お知らせ • Mar 01Pierre et Vacances SA to Report Fiscal Year 2024 Results on Dec 04, 2024Pierre et Vacances SA announced that they will report fiscal year 2024 results at 10:00 AM, Central European Standard Time on Dec 04, 2024お知らせ • Jan 24Pierre et Vacances SA to Report Q2, 2024 Results on Apr 23, 2024Pierre et Vacances SA announced that they will report Q2, 2024 results After-Market on Apr 23, 2024New Risk • Dec 31New major risk - Negative shareholders equityThe company has negative equity. Total equity: -€426m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risk Negative equity (-€426m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change).Reported Earnings • Dec 03Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.79b (up 11% from FY 2022). Net loss: €63.2m (down 122% from profit in FY 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Hospitality industry in Germany.お知らせ • Nov 11Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024.お知らせ • Nov 10Pierre et Vacances SA to Report First Half, 2024 Results on May 30, 2024Pierre et Vacances SA announced that they will report first half, 2024 results on May 30, 2024Valuation Update With 7 Day Price Move • Nov 03Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €1.31, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 53% over the past three years.New Risk • Oct 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 67% per year for the foreseeable future. Minor Risks Negative equity (-€471m). Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.4% increase in shares outstanding).お知らせ • Jul 21Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023Pierre et Vacances SA provided earnings guidance for the fourth quarter of 2022/2023. In view of the portfolio of reservations to date, the Group is currently expecting growth in revenue in Fourth Quarter 2022/2023 compared with Fourth Quarter 2021/2022. This growth will be less extensive than that seen over the first nine months of the year given the historically high base provided by the summer of 2022, which was particularly robust.New Risk • Jun 11New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 68% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (over 45x increase in shares outstanding). Minor Risks Negative equity (-€471m). Large one-off items impacting financial results.Valuation Update With 7 Day Price Move • Jan 18Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.27, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.96 per share.お知らせ • Dec 22Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023.Reported Earnings • Dec 03Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.77b (up 89% from FY 2021). Net income: €325.0m (up €751.4m from FY 2021). Profit margin: 18% (up from net loss in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Germany.Board Change • Nov 16Less than half of directors are independentThere are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Employee Representative Director Emmanuel de Pinel de la Taule is the most experienced director on the board, commencing their role in 2020. Independent Chairman Georges Sampeur was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.お知らせ • Nov 05Pierre et Vacances SA to Report First Half, 2023 Results on May 26, 2023Pierre et Vacances SA announced that they will report first half, 2023 results on May 26, 2023お知らせ • Sep 17Pierre et Vacances SA, Annual General Meeting, Sep 30, 2022Pierre et Vacances SA, Annual General Meeting, Sep 30, 2022. Agenda: To the ratification of the shareholders.Reported Earnings • Jun 01First half 2022 earnings releasedFirst half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €392.9m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 28%, compared to a 31% growth forecast for the industry in Germany.お知らせ • May 31Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter and Full Year of 2021/2022Pierre et Vacances SA provided earnings guidance for the fourth quarter and full year of 2021/2022. Business growth continues in the fourth quarter, with performances expected to be higher than fourth quarter of 2019.For the full year, Revenue from the tourism businesses ahead of budget (up almost 7% compared to revenue in 2019).Breakeven Date Change • Mar 16Forecast breakeven date moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €4.52m in 2022. Earnings growth of 148% is required to achieve expected profit on schedule.Reported Earnings • Dec 03Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: €1.05b (down 10% from FY 2020). Net loss: €341.4m (loss narrowed 20% from FY 2020). Revenue missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 58%, compared to a 26% growth forecast for the restaurants industry in Germany.Breakeven Date Change • Jul 27Forecast breakeven pushed back to 2023The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% per year to 2022. The company is expected to make a profit of €37.2m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule.Reported Earnings • Jun 04First half 2021 earnings releasedThe company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: €244.5m (down 61% from 1H 2020). Net loss: €392.7m (loss widened 146% from 1H 2020).Breakeven Date Change • Jun 04Forecast breakeven moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 26% to 2021. The company is expected to make a profit of €1.75m in 2022. Average annual earnings growth of 96% is required to achieve expected profit on schedule.お知らせ • May 12Pierre et Vacances SA announced that it expects to receive €83.5 million in fundingPierre et Vacances SA (ENXTPA:VAC) announced that it will receive €83.5 million in funding on May 11, 2021. The company will issue convertible bonds in the transaction. The company will receive funding in two tranches including up to €50 million in the first tranche and €33.5 million in the second tranche.お知らせ • Jan 08Pierre et Vacances SA Announces Appointment of Franck Gervais as CEOThe Board of Directors of Pierre et Vacances SA met and nominated Franck Gervais as CEO of the Pierre & Vacances-Center Parcs Group. He is to take up his position on 7 January 2021. He will be seconded by Patricia Damerval (Executive CEO), the members of the Executive Committee and all of the Group teams. Franck Gervais is also a member of the Board of Directors of La Poste as a qualified personality (2020) and Chairman of the Board of Directors of Union des Marques (2019).お知らせ • Jan 06Pierre et Vacances SA, Annual General Meeting, Feb 01, 2021Pierre et Vacances SA, Annual General Meeting, Feb 01, 2021.Reported Earnings • Dec 26Full year 2020 earnings released: €44.51 loss per shareThe company reported a poor full year result with increased losses and weaker revenues and control over expenses. Full year 2020 results: Revenue: €1.17b (down 27% from FY 2019). Net loss: €425.2m (loss widened €392.2m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 76% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Dec 26Revenue misses expectationsRevenue missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 17%, compared to a 27% growth forecast for the Hospitality industry in Germany.Is New 90 Day High Low • Nov 05New 90-day low: €9.30The company is down 31% from its price of €13.50 on 06 August 2020. The German market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.95 per share.Is New 90 Day High Low • Oct 19New 90-day low: €11.45The company is down 28% from its price of €16.00 on 21 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.14 per share.Is New 90 Day High Low • Sep 23New 90-day low: €12.55The company is down 28% from its price of €17.55 on 25 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.36 per share.業績と収益の成長予測DB:PV6 - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数9/30/20282,195825518029/30/20272,090705916749/30/20262,015494113143/31/20261,89055292375N/A12/31/20251,87844259348N/A9/30/20251,86734227321N/A6/30/20251,83622217312N/A3/31/20251,8059206303N/A12/31/20241,81115202295N/A9/30/20241,81820198286N/A6/30/20241,821-23182279N/A3/31/20241,823-65167272N/A12/31/20231,805-64187293N/A9/30/20231,786-63207315N/A6/30/20231,752120203292N/A3/31/20231,717302199269N/A12/31/20221,665297115177N/A9/30/20221,6122913286N/A6/30/20221,4717154103N/A3/31/20221,329-14975120N/A12/31/20211,133-2882465N/A9/30/2021937-426-2710N/A6/30/2021862-542-126-90N/A3/31/2021787-658-225-191N/A12/31/2020979-542-130-90N/A9/30/20201,172-425-3411N/A6/30/20201,344-2492677N/A3/31/20201,516-7285142N/A12/31/20191,556-52N/A102N/A9/30/20191,595-33N/A61N/A6/30/20191,561-48N/A53N/A3/31/20191,528-63N/A46N/A12/31/20181,481-55N/A25N/A9/30/20181,435-46N/A5N/A6/30/20181,444-45N/A-21N/A3/31/20181,453-43N/A-47N/A12/31/20171,439-50N/A-5N/A9/30/20171,425-57N/A37N/A6/30/20171,413-53N/A59N/A3/31/20171,400-49N/A81N/A12/31/20161,386-28N/A62N/A9/30/20161,373-7N/A44N/A6/30/20161,341-3N/A55N/A3/31/20161,3101N/A67N/A12/31/20151,346-5N/A74N/A9/30/20151,382-12N/A81N/A6/30/20151,419-6N/A73N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: PV6の予測収益成長率 (年間19.3% ) は 貯蓄率 ( 1.9% ) を上回っています。収益対市場: PV6の収益 ( 19.3% ) はGerman市場 ( 16.8% ) よりも速いペースで成長すると予測されています。高成長収益: PV6の収益は増加すると予測されていますが、大幅には増加しません。収益対市場: PV6の収益 ( 4.5% ) German市場 ( 6.5% ) よりも低い成長が予測されています。高い収益成長: PV6の収益 ( 4.5% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: PV6の 自己資本利益率 は、3年後には低くなると予測されています ( 16.6 %)。成長企業の発掘7D1Y7D1Y7D1YConsumer-services 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/29 09:45終値2026/06/26 00:00収益2026/03/31年間収益2025/09/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Pierre et Vacances SA 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。10 アナリスト機関Laurent GelebartBNP ParibasJean-Christophe Lefèvre-MoulenqCIC Market Solutions (ESN)Emmanuel ParotGilbert Dupont7 その他のアナリストを表示
お知らせ • Apr 24Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024Pierre et Vacances SA provided earnings guidance for the full year 2024. The group expects full-year revenue growth in line with its targets and is confident in a sharp increase in operating profitability, driven especially by strict execution of the Reinvention plan.
お知らせ • Jul 21Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023Pierre et Vacances SA provided earnings guidance for the fourth quarter of 2022/2023. In view of the portfolio of reservations to date, the Group is currently expecting growth in revenue in Fourth Quarter 2022/2023 compared with Fourth Quarter 2021/2022. This growth will be less extensive than that seen over the first nine months of the year given the historically high base provided by the summer of 2022, which was particularly robust.
お知らせ • May 31Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter and Full Year of 2021/2022Pierre et Vacances SA provided earnings guidance for the fourth quarter and full year of 2021/2022. Business growth continues in the fourth quarter, with performances expected to be higher than fourth quarter of 2019.For the full year, Revenue from the tourism businesses ahead of budget (up almost 7% compared to revenue in 2019).
Breakeven Date Change • Mar 16Forecast breakeven date moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €4.52m in 2022. Earnings growth of 148% is required to achieve expected profit on schedule.
Breakeven Date Change • Jul 27Forecast breakeven pushed back to 2023The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% per year to 2022. The company is expected to make a profit of €37.2m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule.
Breakeven Date Change • Jun 04Forecast breakeven moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 26% to 2021. The company is expected to make a profit of €1.75m in 2022. Average annual earnings growth of 96% is required to achieve expected profit on schedule.
お知らせ • Jun 23Mubadala Capital entered into a bid to acquire Pierre et Vacances SA (ENXTPA:VAC) from Benefits Street Partners Limited and Fidera Limited for approximately €880 million.Mubadala Capital entered into a bid to acquire Pierre et Vacances SA (ENXTPA:VAC) from Benefits Street Partners Limited and Fidera Limited for approximately €880 million on June 19, 2026. As part of consideration €877.5 million is being paid towards common equity of Pierre et Vacances SA. The transaction is subject to subject to antitrust regulations and approval by regulatory board / committee. The Board of Directors of the Company, at a meeting held on June 19, 2026, has unanimously welcomed favorably the proposed transaction, without prejudice to the reasoned opinion to be issued by the Board of Directors in the context of the contemplated tender offer. However, there can be no assurance that the transaction will materialize if MC does not receive, by July 17, 2026, undertakings from shareholders of the Company representing at least 80% of its outstanding share capital to tender their ordinary shares to the tender offer. In their capacity as directors, representatives of Fidera Limited, Benefit Street Partners and Pastel Holding, the Company’s largest shareholders representing, in the aggregate, 58.6% of the outstanding share capital of the Company, expressed their support for the proposed transaction at that meeting.
New Risk • Jun 15New major risk - Negative shareholders equityThe company has negative equity. Total equity: -€435m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Negative equity (-€435m).
New Risk • Jun 04New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Negative equity (-€434m). Large one-off items impacting financial results.
Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Victoire Aubry was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 09Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026. Location: 84 rue charles michels, saint denis France
お知らせ • Oct 28Pierre et Vacances SA to Report First Half, 2026 Results on May 28, 2026Pierre et Vacances SA announced that they will report first half, 2026 results on May 28, 2026
お知らせ • Jan 09Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025. Location: hotel des arts et metiers, 9 bis avenue d iena, paris France
お知らせ • Sep 06Pierre et Vacances SA to Report Fiscal Year 2025 Results on Dec 04, 2025Pierre et Vacances SA announced that they will report fiscal year 2025 results on Dec 04, 2025
お知らせ • Sep 05Pierre et Vacances SA to Report First Half, 2025 Results on May 28, 2025Pierre et Vacances SA announced that they will report first half, 2025 results on May 28, 2025
お知らせ • Apr 24Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024Pierre et Vacances SA provided earnings guidance for the full year 2024. The group expects full-year revenue growth in line with its targets and is confident in a sharp increase in operating profitability, driven especially by strict execution of the Reinvention plan.
お知らせ • Mar 01Pierre et Vacances SA to Report Fiscal Year 2024 Results on Dec 04, 2024Pierre et Vacances SA announced that they will report fiscal year 2024 results at 10:00 AM, Central European Standard Time on Dec 04, 2024
お知らせ • Jan 24Pierre et Vacances SA to Report Q2, 2024 Results on Apr 23, 2024Pierre et Vacances SA announced that they will report Q2, 2024 results After-Market on Apr 23, 2024
New Risk • Dec 31New major risk - Negative shareholders equityThe company has negative equity. Total equity: -€426m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risk Negative equity (-€426m). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change).
Reported Earnings • Dec 03Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.79b (up 11% from FY 2022). Net loss: €63.2m (down 122% from profit in FY 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Hospitality industry in Germany.
お知らせ • Nov 11Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024.
お知らせ • Nov 10Pierre et Vacances SA to Report First Half, 2024 Results on May 30, 2024Pierre et Vacances SA announced that they will report first half, 2024 results on May 30, 2024
Valuation Update With 7 Day Price Move • Nov 03Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €1.31, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 53% over the past three years.
New Risk • Oct 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 67% per year for the foreseeable future. Minor Risks Negative equity (-€471m). Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.4% increase in shares outstanding).
お知らせ • Jul 21Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023Pierre et Vacances SA provided earnings guidance for the fourth quarter of 2022/2023. In view of the portfolio of reservations to date, the Group is currently expecting growth in revenue in Fourth Quarter 2022/2023 compared with Fourth Quarter 2021/2022. This growth will be less extensive than that seen over the first nine months of the year given the historically high base provided by the summer of 2022, which was particularly robust.
New Risk • Jun 11New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 68% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (over 45x increase in shares outstanding). Minor Risks Negative equity (-€471m). Large one-off items impacting financial results.
Valuation Update With 7 Day Price Move • Jan 18Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.27, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.96 per share.
お知らせ • Dec 22Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023.
Reported Earnings • Dec 03Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.77b (up 89% from FY 2021). Net income: €325.0m (up €751.4m from FY 2021). Profit margin: 18% (up from net loss in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Germany.
Board Change • Nov 16Less than half of directors are independentThere are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Employee Representative Director Emmanuel de Pinel de la Taule is the most experienced director on the board, commencing their role in 2020. Independent Chairman Georges Sampeur was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
お知らせ • Nov 05Pierre et Vacances SA to Report First Half, 2023 Results on May 26, 2023Pierre et Vacances SA announced that they will report first half, 2023 results on May 26, 2023
お知らせ • Sep 17Pierre et Vacances SA, Annual General Meeting, Sep 30, 2022Pierre et Vacances SA, Annual General Meeting, Sep 30, 2022. Agenda: To the ratification of the shareholders.
Reported Earnings • Jun 01First half 2022 earnings releasedFirst half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €392.9m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 28%, compared to a 31% growth forecast for the industry in Germany.
お知らせ • May 31Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter and Full Year of 2021/2022Pierre et Vacances SA provided earnings guidance for the fourth quarter and full year of 2021/2022. Business growth continues in the fourth quarter, with performances expected to be higher than fourth quarter of 2019.For the full year, Revenue from the tourism businesses ahead of budget (up almost 7% compared to revenue in 2019).
Breakeven Date Change • Mar 16Forecast breakeven date moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €4.52m in 2022. Earnings growth of 148% is required to achieve expected profit on schedule.
Reported Earnings • Dec 03Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: €1.05b (down 10% from FY 2020). Net loss: €341.4m (loss narrowed 20% from FY 2020). Revenue missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 58%, compared to a 26% growth forecast for the restaurants industry in Germany.
Breakeven Date Change • Jul 27Forecast breakeven pushed back to 2023The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% per year to 2022. The company is expected to make a profit of €37.2m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule.
Reported Earnings • Jun 04First half 2021 earnings releasedThe company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: €244.5m (down 61% from 1H 2020). Net loss: €392.7m (loss widened 146% from 1H 2020).
Breakeven Date Change • Jun 04Forecast breakeven moved forward to 2022The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 26% to 2021. The company is expected to make a profit of €1.75m in 2022. Average annual earnings growth of 96% is required to achieve expected profit on schedule.
お知らせ • May 12Pierre et Vacances SA announced that it expects to receive €83.5 million in fundingPierre et Vacances SA (ENXTPA:VAC) announced that it will receive €83.5 million in funding on May 11, 2021. The company will issue convertible bonds in the transaction. The company will receive funding in two tranches including up to €50 million in the first tranche and €33.5 million in the second tranche.
お知らせ • Jan 08Pierre et Vacances SA Announces Appointment of Franck Gervais as CEOThe Board of Directors of Pierre et Vacances SA met and nominated Franck Gervais as CEO of the Pierre & Vacances-Center Parcs Group. He is to take up his position on 7 January 2021. He will be seconded by Patricia Damerval (Executive CEO), the members of the Executive Committee and all of the Group teams. Franck Gervais is also a member of the Board of Directors of La Poste as a qualified personality (2020) and Chairman of the Board of Directors of Union des Marques (2019).
お知らせ • Jan 06Pierre et Vacances SA, Annual General Meeting, Feb 01, 2021Pierre et Vacances SA, Annual General Meeting, Feb 01, 2021.
Reported Earnings • Dec 26Full year 2020 earnings released: €44.51 loss per shareThe company reported a poor full year result with increased losses and weaker revenues and control over expenses. Full year 2020 results: Revenue: €1.17b (down 27% from FY 2019). Net loss: €425.2m (loss widened €392.2m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 76% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Dec 26Revenue misses expectationsRevenue missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 17%, compared to a 27% growth forecast for the Hospitality industry in Germany.
Is New 90 Day High Low • Nov 05New 90-day low: €9.30The company is down 31% from its price of €13.50 on 06 August 2020. The German market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.95 per share.
Is New 90 Day High Low • Oct 19New 90-day low: €11.45The company is down 28% from its price of €16.00 on 21 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.14 per share.
Is New 90 Day High Low • Sep 23New 90-day low: €12.55The company is down 28% from its price of €17.55 on 25 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.36 per share.