Pierre & Vacances: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Pierre & Vacances shares, with an unchanged target price of E1.
9.
Sales for 2023/24, already published, came in at E1,913m (-0.1% y-o-y), with Tourism sales up 3.7%. Adjusted EBITDA came in at E174.3m.
Oddo BHF reports 2024 results in line with expectations.
For Q1 2024/2025, the group reports that the tourism bookings portfolio is stable compared with the previous year.
The group also confirms its EBITDA growth trajectory in FY2025 to achieve its financial and operating growth targets by 2026 and 2028 (adjusted EBITDA of E200m in 2026 and 220 ME in 2028, generating an operating margin of 10%).
Ahead of the 10am meeting, we are maintaining our 2024/2025 estimates unchanged, based on Tourism sales growth of around 4% (+2% for consolidated sales), with an operating margin of E122.9m, the analyst said.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
9.
Sales for 2023/24, already published, came in at E1,913m (-0.1% y-o-y), with Tourism sales up 3.7%. Adjusted EBITDA came in at E174.3m.
Oddo BHF reports 2024 results in line with expectations.
For Q1 2024/2025, the group reports that the tourism bookings portfolio is stable compared with the previous year.
The group also confirms its EBITDA growth trajectory in FY2025 to achieve its financial and operating growth targets by 2026 and 2028 (adjusted EBITDA of E200m in 2026 and 220 ME in 2028, generating an operating margin of 10%).
Ahead of the 10am meeting, we are maintaining our 2024/2025 estimates unchanged, based on Tourism sales growth of around 4% (+2% for consolidated sales), with an operating margin of E122.9m, the analyst said.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.