Announcement • Jan 09
Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026 Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026. Location: 84 rue charles michels, saint denis France Reported Earnings • Dec 04
Full year 2025 earnings released Full year 2025 results: Revenue: €1.87b (up 2.7% from FY 2024). Net income: €33.5m (up 67% from FY 2024). Profit margin: 1.8% (up from 1.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Hospitality industry in the United Kingdom. Board Change • Nov 07
Less than half of directors are independent Following 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. Announcement • Oct 28
Pierre et Vacances SA to Report First Half, 2026 Results on May 28, 2026 Pierre et Vacances SA announced that they will report first half, 2026 results on May 28, 2026 New Risk • Jun 12
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€497m 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 (1.1x net interest cover). Negative equity (-€497m). Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Jun 11
Now 20% undervalued Over the last 90 days, the stock has risen 4.2% to €1.45. The fair value is estimated to be €1.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 3,978% in the next 2 years. Reported Earnings • May 29
First half 2025 earnings released First half 2025 results: Revenue: €765.1m (down 1.7% from 1H 2024). Net loss: €117.0m (loss widened 10% from 1H 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in the United Kingdom. Reported Earnings • Jan 28
Full year 2024 earnings released Full year 2024 results: Revenue: €1.82b (up 1.8% from FY 2023). Net income: €27.5m (up €90.6m from FY 2023). Profit margin: 1.5% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Hospitality industry in the United Kingdom. New Risk • Jan 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€513m 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 (1.1x net interest cover). Negative equity (-€513m). Announcement • Jan 09
Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025 Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025. Location: hotel des arts et metiers, 9 bis avenue d iena, paris France New Risk • Dec 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x 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 (1.1x net interest cover). Negative equity (-€513m). Announcement • Sep 06
Pierre et Vacances SA to Report Fiscal Year 2025 Results on Dec 04, 2025 Pierre et Vacances SA announced that they will report fiscal year 2025 results on Dec 04, 2025 Announcement • Sep 05
Pierre et Vacances SA to Report First Half, 2025 Results on May 28, 2025 Pierre et Vacances SA announced that they will report first half, 2025 results on May 28, 2025 Buy Or Sell Opportunity • Jun 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to €1.54. The fair value is estimated to be €1.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Announcement • Apr 24
Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024 Pierre 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. Announcement • Mar 01
Pierre et Vacances SA to Report Fiscal Year 2024 Results on Dec 04, 2024 Pierre et Vacances SA announced that they will report fiscal year 2024 results at 10:00 AM, Central European Standard Time on Dec 04, 2024 Announcement • Jan 24
Pierre et Vacances SA to Report Q2, 2024 Results on Apr 23, 2024 Pierre et Vacances SA announced that they will report Q2, 2024 results After-Market on Apr 23, 2024 New Risk • Dec 31
New major risk - Negative shareholders equity The 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. This is currently the only risk that has been identified for the company. Reported Earnings • Dec 03
Full year 2023 earnings released Full 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 7.7% growth forecast for the Hospitality industry in the United Kingdom. Announcement • Nov 11
Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024 Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024. Announcement • Nov 10
Pierre et Vacances SA to Report First Half, 2024 Results on May 30, 2024 Pierre et Vacances SA announced that they will report first half, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €1.33, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 88% over the past three years. Announcement • Jul 21
Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023 Pierre 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 10
New major risk - Financial position The 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 19
Investor sentiment improved over the past week After last week's 22% share price gain to €1.34, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 19x in the Hospitality industry in the United Kingdom. Total loss to shareholders of 26% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €0.98 per share. Announcement • Dec 22
Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023 Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023. Board Change • Dec 14
Less than half of directors are independent There 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. Reported Earnings • Dec 03
Full year 2022 earnings released Full 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 9.5% growth forecast for the Hospitality industry in the United Kingdom. Board Change • Nov 23
Less than half of directors are independent There 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. Announcement • Nov 05
Pierre et Vacances SA to Report First Half, 2023 Results on May 26, 2023 Pierre et Vacances SA announced that they will report first half, 2023 results on May 26, 2023 Board Change • Oct 25
Less than half of directors are independent There 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. Reported Earnings • Jun 01
First half 2022 earnings released First 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 23% growth forecast for the industry in the United Kingdom. Breakeven Date Change • Nov 06
Forecast to breakeven in 2023 The 4 analysts covering Pierre et Vacances expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €40.5m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule. Breakeven Date Change • Aug 18
Forecast breakeven pushed back to 2023 The 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 • Jul 27
Forecast breakeven pushed back to 2023 The 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 04
Forecast breakeven moved forward to 2022 The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 22% 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. Reported Earnings • Jun 04
First half 2021 earnings released The 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). Analyst Estimate Surprise Post Earnings • Dec 26
Revenue misses expectations Revenue missed analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 17%, compared to a 3.3% growth forecast for the Hospitality industry in the United Kingdom. Reported Earnings • Dec 26
Full year 2020 earnings released: €44.51 loss per share The 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 33% per year, which means it has not declined as severely as earnings.