View ValuationPierre et Vacances 향후 성장Future 기준 점검 3/6Pierre et Vacances (는) 각각 연간 28.9% 및 4.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 28.3% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 16.5% 로 예상됩니다.핵심 정보28.9%이익 성장률28.28%EPS 성장률Hospitality 이익 성장70.8%매출 성장률4.4%향후 자기자본이익률16.50%애널리스트 커버리지Low마지막 업데이트12 May 2026최근 향후 성장 업데이트공시 • 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.공시 • 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.공시 • 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.모든 업데이트 보기Recent updatesBoard 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.공시 • 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 France공시 • 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, 2026공시 • 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 France공시 • 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, 2025공시 • 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, 2025공시 • 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.공시 • 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, 2024공시 • 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.공시 • Nov 11Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024.공시 • 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).공시 • 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.공시 • 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.공시 • 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, 2023공시 • 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.공시 • 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.공시 • 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.공시 • 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).공시 • 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.이익 및 매출 성장 예측DB:PV6 - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수9/30/20282,195825518029/30/20272,090705916749/30/20262,015494113149/30/20251,86734227321N/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/A12/31/20191,556-5245102N/A9/30/20191,595-33561N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: PV6 의 연간 예상 수익 증가율(28.9%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: PV6 의 연간 수익(28.9%)이 German 시장(17.2%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: PV6 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: PV6 의 수익(연간 4.4%)이 German 시장(연간 6.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: PV6 의 수익(연간 4.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: PV6의 자본 수익률은 3년 후 16.5%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-services 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/25 17:03종가2026/05/25 00:00수익2025/09/30연간 수익2025/09/30데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Pierre et Vacances SA는 10명의 분석가가 다루고 있습니다. 이 중 4명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Laurent GelebartBNP ParibasJean-Christophe Lefèvre-MoulenqCIC Market Solutions (ESN)Emmanuel ParotGilbert Dupont7명의 분석가 더 보기
공시 • 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.
공시 • 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.
공시 • 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.
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.
공시 • 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
공시 • 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
공시 • 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
공시 • 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
공시 • 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
공시 • 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.
공시 • 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
공시 • 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.
공시 • Nov 11Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024.
공시 • 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).
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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).
공시 • 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.