Pierre Et Vacances Sa · EURONEXT:VAC
Pierre Et Vacances Sa — Pierre et Vacances-Center Parcs Group — Investor Day (May 2024)
82 slides from Pierre Et Vacances Sa's investor day presentation, May 30, 2024
Slide 1: Beyond ReInvention – Capital Markets Day
Beyond ReInvention CAPITAL MARKETS DAY – May 30th, 2024
Slide 2: Disclaimer
DISCLAIMER Financial data disclosed in this presentation are stemming from operational reporting. To reflect the operating reality of the Group’s businesses and the transparency of their performance, the Group’s financial communication, in line with operational reporting as followed by management, c
Slide 3: Agenda
AGENDA 9.00 INTRODUCTION 9.05 PVCP: A REINVENTED GROUP, BUILT UPON 2 YEARS OF SUCCESSFUL TURNAROUND 9.30 FY24-FY28: BEYOND REINVENTION 10.15 BRANDS IN CONTROL OF THEIR DESTINY (FIRST PART) 10.45 COFFEE BREAK 11.00 BRANDS IN CONTROL OF THEIR DESTINY (SECOND PART) 11.45 CONCLUSION 11.50 Q&A Capital Ma
Slide 4: Executive Summary
E X E C U T I V E S U M M A RY TRANSFORMATION JOURNEY TO BECOMING THE EUROPEAN LEADER IN REINVENTED LOCAL TOURISM A Re-Invented Group, strong of 4 empowered and efficient brands, built upon two years of successful turnaround Recent Solid Performance: a First Step in our Growth Journey • Excellent pr
Slide 5: A Reinvented Group, Built Upon 2 Years of Successful Turnaround
A REINVENTED BEYOND BRANDS IN CONCLUSION Q&A GROUP, BUILT REINVENTION: CONTROL OF UPON 2 YEARS NEW AMBITIONS THEIR OF SUCCESSFUL DESTINY TURNAROUND
Slide 6: A Reinvented Group, Built Upon 2 Years of Successful Turnaround
A REINVENTED GROUP, BUILT UPON 2 YEARS OF SUCCESSFUL TURNAROUND
Slide 7: Leader in Reinvented Local Tourism
T H E P I E R R E & VA C A N C E S - C E N T E R PA R C S G R O U P : L E A D E R I N R E I N V E N T E D L O C A L TO U R I S M OUR PROMISE LOCAL TOURISM: To generate happiness for shared and authentic experiences with a positive impact AN UNDENIABLE ASSET • French people concerned by the challenge
Slide 8: A Key Tourism Operator Made of Strong Brands
A K E Y T O U R I S M O P E R AT O R M A D E O F S T R O N G B R A N D S , O F F E R I N G A U N I Q U E VA L U E P R O P O S I T I O N WITH ITS 4 BRANDS, THE GROUP OFFERS ALL THE EXPERIENCES OF MEANINGFUL TOURISM IN EUROPE Accommodation 300* Sites 45,800* units (2/3 Green DOMAINS IN THE HEART OF NA
Slide 9: A Reinvented Group, Built Upon Years of Successful Turnaround
A R E I N V E N T E D G R O U P, B U I LT U P O N 2 Y E A R S O F S U C C E S S F U L T U R N A R O U N D A TRANSFORMED GROUP, BUILT UPON SUCCESSFUL EXECUTION OF REINVENTION STRATEGY NB: Performance according to Operational Reporting, in €m 1 742 1 365 Tourism New business model New governance +28%
Slide 10: One Year Ahead of ReInvention BP
A R E I N V E N T E D G R O U P, B U I LT U P O N 2 Y E A R S O F S U C C E S S F U L T U R N A R O U N D ONE YEAR AHEAD OF REINVENTION BP (MARCH 22) NB: Performance according to Operational Reporting, in €m EBITDA TOURISM REVENUE COST SAVINGS FY23A Group EBITDA FY24 Revised FY23A Group Tourism Reve
Slide 11: Continued Growth in Financial Performance in H1 2024: Revenue
CONTINUED GROWTH IN FINANCIAL PERFORMANCE IN H1 2024 IMPROVMENT OF H1 2024 EBITDA VS PREVIOUS YEAR BY €25M (REPORTED), OR €14M (NORMALIZED) Reminder: The seasonal nature of the Group activities (40% of annual revenue recorded in H1, vs. a quite linear recognition of expenses throughout the year) REV
Slide 12: Continued Growth in Financial Performance in H1 2024: EBITDA
CONTINUED GROWTH IN FINANCIAL PERFORMANCE IN H1 2024 IMPROVMENT OF H1 2024 EBITDA VS PREVIOUS YEAR BY €25M (REPORTED), OR €14M (NORMALIZED) Reminder: The seasonal nature of the Group activities (40% of annual revenue recorded in H1, vs. a quite linear recognition of expenses throughout the year) str
Slide 13: Net Debt at €45m, Year-End Cash Flow in Line with Objective
CONTINUED GROWTH IN FINANCIAL PERFORMANCE IN H1 2024 NET DEBT AT €45M, YEAR-END CASH FLOW IN LINE WITH OBJECTIVE Reminder: The seasonal nature of the Group activities (40% of annual revenue recorded in H1, vs. a quite linear recognition of expenses throughout the year) structurally leads to a cash c
Slide 14: Revised Upwards FY2024 EBITDA Guidance
… L E A D I N G T O R E V I S E U P WA R D S T H E FY 2024 EBITDA GUIDANCE REVISED FY24 EBITDA TARGET UPWARDS NB: Performance according to Operational Reporting, in €m GROWTH IN OPERATING PERFORMANCE IN H1 2024 FY 2024 EBITDA TARGET +€25m Reported Reported >= €170m H1 2024 EBITDA vs. H1 2023: [€145-
Slide 15: FY24-FY28: Beyond ReInvention
FY24-FY28: BEYOND REINVENTION
Slide 16: Well Positioned on the Growing and Resilient Holiday Park Market
PVCP IS WELL POSITIONED ON THE GROWING A N D R E S I L I E N T H O L I D AY PA R K M A R K E T THE EUROPEAN MARKET FOR HOLIDAY PARKS & OTHER LODGING TYPES1 IS PROJECTED TO GROW BY +5.5% CAGR 23-28 Revenue evolution in Europe2 Domestic tourism spending3 RSP in €BN, 2023-2028 forecast Total in-country
Slide 17: PVCP Will Capitalize on the Market Mega-Trends
P V C P W I L L C A P I TA L I Z E O N T H E M A R K E T MEGA-TRENDS 3 MEGATRENDS RESHAPING HOSPITALITY MARKET: THE PANDEMIC ACCELERATED THE SHIFT TOWARDS SUSTAINABLE, EXPERIENTIAL & DIGITALLY ENHANCED TRAVEL Nature and Sustainable Tourism Experiential revolution Digitally enhanced experiences • 8%
Slide 18: Unique Strengths and Positioning
2 YEARS AFTER REINVENTION LAUNCH, PVCP RELIES T O D AY O N U N I Q U E S T R E N G T H S & P O S I T I O N I N G THE 9 KEY SUCCESS DIFFERENTIATORS FOR A RESILIENT GROUP TODAY FULL SPECTRUM OF OFFER, BEST POSITIONING: WITH ITS 4 BRANDS (PEER-TO- STRONG AND MODERNIZED 12,600 TALENTED EMPLOYEES, ON LOC
Slide 19: Five Strategic Pillars to Go Beyond ReInvention
P V C P I N A P O S I T I O N T O D AY T O P U S H F O RWA R D I T S A M B I T I O N T O WA R D S 2 0 2 8 B E Y O N D R E I N V E N T I O N ACCELERATING MOMENTUM FOR PVCP, BEATING REINVENTION PLAN AND CONSOLIDATING SUCCESSES OF THE PAST 2 YEARS 2024-2028 5 STRATEGIC PILLARS TO GO BEYOND REINVENTION
Slide 20: The Drivers Behind Our CSR Strategy
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM THE DRIVERS SOCIETAL BEHIND OUR CSR STRATEGY ENERGY TRANSITION A responsible approach placed at the heart of our brands, services and processes, to help transform the Group and the tourism industry by creating a PH
Slide 21: Societal: Developing Human Capital
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM Societal Developing Human Capital for all our Employees in their Diversity Gender balance as a first diversity focus Ambitions ▪ Developing the Group’s Female Talent ▪ 50% of women in executive management positions
Slide 22: Helping Vulnerable Families to Reconnect
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM Societal Helping Vulnerable Families to Reconnect The Group’s Foundation purpose Active Sponsorship ▪ Support family-related solidarity actions near our sites ▪ Financial via the Foundation ▪ Develop operational ma
Slide 23: Energy Transition
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM Energy transition Commitment Levers A decarbonization pathway validated by SBTi, in progress Reduce energy consumption • 51% of emissions linked to energy (scope 1 & 2) by 2030 vs • -11% of total energy consumption
Slide 24: Physical Risks and Water Resources Management
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM Physical risks and Water resources management Water Resources management Climate risk analysis and action plans Steer and reduce our consumption Address water resources • A study of climate risk, focused on water r
Slide 25: Biodiversity
FY2024-28: BEYOND REINVENTION 1. ACT AS THE LEADER OF A POSITIVE-IMPACT LOCAL TOURISM Biodiversity An action plan valided by Act for Nature France Our ambition • Center Parcs Europe, Pierre & Vacances Planting hedges Nature trail France: Zero Net Artificialization 100% of sites offering at least one
Slide 26: Enchant Customer Experience
FY2024-28: BEYOND REINVENTION 2. INVEST IN IMMERSIVE EXPERIENCE, PRODUCT, TECHNOLOGY AND CULTURE OF SERVICE TO BOOST TOPLINE & CUSTOMER SATISFACTION Enchant Customer Experience Premiumize Product beyond accommodation pushing Entertainment and the Culture of Service • Continue investing in the qualit
Slide 27: Push Technology to Enable Our Ambition
FY2024-28: BEYOND REINVENTION 2. INVEST IN IMMERSIVE EXPERIENCE, PRODUCT, TECHNOLOGY AND CULTURE OF SERVICE TO BOOST TOPLINE & CUSTOMER SATISFACTION Push Technology to enable our ambition on customer experience, operational efficiency and regeneration Customer Centricity Sites Operational Excellence
Slide 28: Push Inventory Development Focusing on Asset Light
FY2024-28: BEYOND REINVENTION 3. PUSH INVENTORY DEVELOPMENT FOCUSING ON ASSET LIGHT Significant increase in Asset Light inventory (75% of FY24-28 stock increase), to reach 15% of total inventory in FY28 Stock evolution (# acc. units), excl. maeva • 2 new parks in Denmark (management contract) and Ge
Slide 29: Ambitious Saving Plan
FY2024-28: BEYOND REINVENTION 4. CONTINUE TO REDUCE COSTS AND CORPORATE STRUCTURE: AN AMBITIOUS SAVING PLAN Act 23-BP28 cost saving plan Cost saving detail by stage gate €71m or c. 80% of savings +€52m 16 90 47 90 4 3 5 4 20 24 Stage Gate 1: action identified 38 Stage Gate 2: action qualified Stage
Slide 30: Cost Reduction: Procurement
FY2024-28: BEYOND REINVENTION 4. CONTINUE TO REDUCE COSTS AND CORPORATE STRUCTURE: AN AMBITIOUS SAVING PLAN Procurement • 10 initiatives have been launched to drive maximum Procurement Performance, o.w. 5 key actions: Key actions driving OPEX Performance EBITDA impact • Collect, analyze & monitor Su
Slide 31: Cost Reduction: IT and Other Savings
FY2024-28: BEYOND REINVENTION 4. CONTINUE TO REDUCE COSTS AND CORPORATE STRUCTURE: AN AMBITIOUS SAVING PLAN IT Other savings • Objective of IT Opex vs Tourism Turnover ratio • Lean management within each BL (PV France + Spain, CP…) • Energy cost mitigation: From Hedging FY24 2% to 3% Hedging FY24 %
Slide 32: Effort Rate Down by 2.8pt Over 5 Years
FY2024-28: BEYOND REINVENTION 4. CONTINUE TO REDUCE COSTS: EFFORT RATE (RENTS/EBITDAR) DOWN BY 2.8PT OVER 5 YEARS Owner rents in FY23 (€m) FY23-BP28 effort rate decrease 269 452 -2.8 pts 70% with 71.7% 68.9% capped 183 indexation or fixed rents Individuals Institutionals Total FY23 FY2023 BP2028 • 7
Slide 33: New Financial Means to Execute the Group Strategy
FY2024-28: N E W F I N A N C I A L M E A N S T O E X E C U T E T H E G R O U P S T R AT E G Y MANAGEMENT PLAN IS SELF-FINANCED OVER THE BP HORIZON, WITH A REFINANCED DEBT, THE IMPLEMENTATION OF AN RCF LINE AND THE END OF THE CP “FIDUCIE-SÛRETÉ” MECHANISM (TRUST SECURITY) 29 May 2024: signing of a 5
Slide 34: Key Financial Objectives: €220m EBITDA in FY28
FY2024-28: KEY FINANCIAL OBJECTIVES A SELF-FINANCED BP, TARGETING A €220M EBITDA IN FY28 (10% MARGIN) Group EBITDA (€m) Investments (€m) +€83m Group CAPEX (€m) 200 220 >=170 553 137 Investments financed 79 10% 10% >=160 by third parties 217 2019 2023 FY 2024 BP2026 BP2028 actual actual Reported FF&E
Slide 35: €83m EBITDA Growth Over FY23-BP28
FY2024-28: KEY FINANCIAL OBJECTIVES AN OBJECTIVE OF €83M EBITDA GROWTH OVER FY23-BP28, DRIVEN BY EFFICIENCY/COST REDUCTION (60%) AND TOPLINE (40%) Group EBITDA bridge A23-BP28 (€m) BLs EBITDA bridge FY23-BP28 (€m) +€83m (€m) EBITDA Growth EBITDA 23-28 BP 2028 52 (41) 220 (20) 92 CPE +54 191 All tour
Slide 36: ReInvention: Key Pillars by BLs
REINVENTION: KEY PILLARS BY BLs
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Slide 38: Center Parcs: What Makes Our Specificity
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S CENTER PARCS OFFERS A UNIQUE VALUE PROPOSITION FOR FAMILIES AND FRIENDS, PROVIDING A WIDE RANGE OF IMMERSIVE EXPERIENCES IN NATURE. Nature Activities Always in the midst of nature, animals close to your Wide range of ind
Slide 39: Center Parcs Europe Positioned for New Customer Expectations
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S CENTER PARCS EUROPE IDEALLY POSITIONED TO ADDRESS NEW CUSTOMER EXPECTATIONS Leading to a Rise Perfectly Met by New Customer Expectations CPE’s offering in Local Tourism Interest Impact of Local Tourism in Tourism Marke
Slide 40: Center Parcs Europe: Only Pure-Play of Size in Europe
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S CENTER PARCS EUROPE: ONLY PURE-PLAY OF SIZE IN EUROPE Leisure Accommodation Holiday Parks Resorts Parks Pure-Play Players Accomodation Focus ~ Leisure Focus ~ ~ Leisure Offer
Slide 41: Significant Catch-Up Investment Since 2019
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S SIGNIFICANT CATCH-UP INVESTMENT SINCE 2019, FOR A RENOVATED PREMIUMIZED PARC OFFERING ~€700m Resulting in RevPar Growth Capex Spent in the Last 5 Years, Renovated cottages with premiumization and Increased Satisfaction o
Slide 42: Center Parcs Key Figures (FY23)
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S KEY FIGURES (FY23) FY19*- FY23 EVOLUTION 17,4 18,0 Accommodation Accommodation 29 Domains 18k units units FY2019 FY2023 Guests 5,5 5,8 17,0 50% repeaters Guests ~5.8m 17 NPS NPS 89% brand awareness (+14 pts vs 2019) 2,2
Slide 43: Growth Strategy in 6 Priorities
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S OUR GROWTH STRATEGY IS SUMMARIZED IN 6 PRIORITIES HELPING TO ACHIEVE OUR MISSION AND VISION STRATEGIC PRIORITIES MISSION To inspire all to truly connect with nature and each other while caring, sharing and enjoying Provi
Slide 44: Providing Memorable Experiences On-Site
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 1 PROVIDING MEMORABLE EXPERIENCES ON-SITE PREMIUMISATION: GO BEYOND THE TOURISTIC AND LEISURE CODES AND POSITION AS A RESPONSIBLE AND IMMERSIVE NATURE DESTINATION Capital Markets Day – May 2024 44
Slide 45: €553m Investment Over 2024-28
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 1 PROVIDING MEMORABLE EXPERIENCES ON-SITE A €553M INVESTMENT (EXCL. NEW DEV) OVER 2024-28 TO SUPPORT THE FY28 VISION Capex Investment over BP24-28: €553m Maintenance / ROI Capex PVCP / Third parties funding CPE is invest
Slide 46: Fostering a Culture of Service
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 2 FOSTERING A CULTURE OF SERVICE ON ALL CENTER PARCS SITES Bringing CX into practice: Happy Family Makers Mission: 1. Before Stay (inspire, inform, guide, co- build) • 4 pillars : Intended guest experience, optimal 2. Du
Slide 47: Everything Starts with the Guest: Market Demand
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 3 EVERYTHING STARTS WITH THE GUEST ATTRACTIVE POSITIONING ON THE GROWING AND RESILIENT OUTDOOR / HOLIDAY PARK EUROPEAN MARKET A Sizeable European Demand for Domestic Travel – averaging to a 5.5% CAGR over the period 23-2
Slide 48: Center Parcs Main Customer Profile
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 3 EVERYTHING STARTS WITH THE GUEST CENTER PARCS MAIN CUSTOMER PROFILE HIGHLY IN LINE WITH DOMESTIC POPULATION WITH A CIRCA 30% HOUSEHOLDS OUT OF CUSTOMER POOL SERVED BY THE SITES, CENTER PARCS HAVE A SIGNIFICANT ROOM FOR
Slide 49: An Unmatched Value for Money Proposition
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 3 EVERYTHING STARTS WITH THE GUEST AN UNMATCHED VALUE FOR MONEY PROPOSITION Center Parcs Europe was able to enlarge its price range, offering a product that caters to a wide range of customer segments. With its distinct
Slide 50: Growing Organically and Externally
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S 4 GROWING ORGANICALLY (EXTENSIONS) AND EXTERNALLY (NEW DEVELOPMENTS) NEW DEVELOPMENTS (1,060 cottages) AND EXTENSIONS (606 cottages) TO SUPPORT EBITDA growth NEW SITES Nordborg* (Denmark) Germany + 1,060 cottages • 440 c
Slide 51: Center Parcs EBITDA Growth A23-BP28
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: C E N T E R PA R C S A23-BP28 EBITDA GROWTH TO STRENGTHEN OUR POSITION AS THE EUROPEAN LEADER IN NATURE AND LOCAL TOURISM BY 2030 CPE will grow EBITDA to €191M in FY28 (RevPar +5.4% CAGR, o/w ADR +4.3%) Aiming at achieving an NPS of 30, an e
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Slide 53: Pierre & Vacances, Number 1 Operator for Local Tourism in France
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S PIERRE & VACANCES, NUMBER #1 OPERATOR FOR LOCAL TOURISM IN FRANCE, WITH KEY ASSETS TO SECURE LONG TERM GROWTH FAVORABLE MARKET DYNAMICS PIERRE & VACANCES KEY ASSETS Key assets for Pierre & Vacances: Number 1 oper
Slide 54: Pierre & Vacances Key Figures
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S KEY FIGURES (FY23) KEY FIGURES EVOLUTION FY19 - FY23 (France + SPAIN) (FRANCE + SPAIN) • Strong improvement on all KPIs driving a contribution above expectations for last 2 years • PV overperforms market thanks t
Slide 55: Key Initiatives to Secure Long Term Growth
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S PIERRE & VACANCES, NUMBER #1 OPERATOR FOR LOCAL TOURISM IN FRANCE, WITH KEY INITIATIVES TO SECURE LONG TERM GROWTH Bringing our customers closer to their family and to local surroundings “Rapprocher nos KEY INITI
Slide 56: Strong RevPar Increase Driven by Customer Satisfaction
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S STRONG REVPAR INCREASE DRIVEN BY A CONTINUOUS IMPROVEMENT IN CUSTOMER SATISFACTION… NPS EVOLUTION REVPAR EVOLUTION (€) INITIATIVES FROM FY24 TO FY28 +2.6% CAGR ▪ Action plans on all sites to boost satisfaction &
Slide 57: Impactful Renovations
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S … AND BY IMPACTFUL RENOVATIONS* RENOVATION STRATEGY FOCUS CAPEX * OVER BP 24-28 58% inventory is renovated as of FY23 €22m €57m Group CAPEX over the last 2 years over BP24-28 ▪ 17 residences premiumized renovatio
Slide 58: Development: A New Area of Stock Growth
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S DEVELOPMENT: A NEW AREA OF STOCK GROWTH FY24: END OF A CYCLE IN TERMS OF STOCK EROSION FY24 – FY28: A NEW ERA OF STOCK GROWTH ▪ 3600 new units (13k beds) signed from FY24 to FY28 (of which ~ 35% Asset light): Ref
Slide 59: Portfolio Restructuring
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S PORTFOLIO RESTRUCTURING – PUSH SHARE OF PROFITABLE INVENTORY 90% of total stock by FY28 (including 77% of top performers, +25pts vs. FY23, +42pts vs. FY19) EVOLUTION OF PORTFOLIO BY PORTFOLIO OPTIMIZATION STRATEG
Slide 60: Pierre & Vacances EBITDA Growth A23-BP28
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: P I E R R E & VA C A N C E S A23-BP28 EBITDA GROWTH P&V will grow EBITDA to €28M in FY28 (RevPar +2.6% CAGR, o/w ADR +1.5%) +€18m / x2.9 (3) (2) 28 14 9 7.1% 10 2.7% A23 Topline growth Cost Savings Other business Contingencies BP FY28 effect
Slide 61: elskel
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Slide 62: Extended Stay Provides Apartment Benefits with Hotel Services
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO EXTENDED STAY PROVIDES THE BENEFIT OF AN APARTMENT WITH THE SELECTED SERVICES OF A HOTEL Traditional Lodging Extended Stay Hotel Residences Category Hotels (dedicated floors in the hotel Apart-hotels Serviced Apartments or building ne
Slide 63: Extended Stay Supply in Europe Remains Limited
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO EXTENDED STAY SUPPLY IN EUROPE REMAINS LIMITED AND ADAGIO IS THE ONLY BRAND WITH A PAN- EUROPEAN FOOTPRINT THE SUPPLY OF EXTENDED STAY IN EUROPE REMAINS LIMITED… …AND ADAGIO IS THE ONLY PLAYER WITH LARGE EUROPEAN FOOTPRINT In ‘000 Roo
Slide 64: Adagio Brand & Product Unique Features
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO ADAGIO BRAND & PRODUCT UNIQUE FEATURES COMBINED WITH THE JV PROPRIETARY KNOW-HOW ARE DRIVING A SUPERIOR ECONOMIC MODEL BRAND & PRODUCT UNIQUE FEATURES 4* Label – Key Apart’ Hotel Comments Metrics Comparison hotel Longer stays & lower
Slide 65: Adagio Key Figures
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO LEVERAGING ON 2 YEARS OF A SOLID RECOVERY, ADAGIO IS WELL POSITIONED TO STRENGTHEN ITS LEADERSHIP IN THE FAST-GROWING APARTHOTEL SEGMENT FY 23 KEY METRICS KEY FIGURES EVOLUTION FY19 - FY23 +17% Aparthotels Accommodation 12,7 14,8 Acco
Slide 66: Adagio Strategic Roadmap 'Next Adagio'
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO ADAGIO IS CURRENTLY IMPLEMENTING ITS STRATEGIC ROADMAP ‘NEXT ADAGIO’ BUILT ON 8 STRATEGIC PRIORITIES KEY INITIATIVES • Rebound in Corporate and International 1 JV Organization: travel Power internationalization and growth while protec
Slide 67: Build Brand Preference Through Communication and Loyalty
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO FOCUS 1: BUILD BRAND PREFERENCE THROUGH COMMUNICATION AND INFLUENCE, LOYALTY PROGRAM AND DIRECT CHANNEL APPROACH Build Awareness and Interest through Strengthen Direct Channels Make Loyalty a priority Communication and Influence from
Slide 68: Execute Renovation Plan
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO FOCUS 2: ACCESS EXECUTE RENOVATION PLAN AND REINFORCE OUR PRODUCT AND DESIGN UNIQUENESS Premiumizing Adagio Original Execute Renovation Plan to reach 49% of stock by 28 and increasing network consistency # of renovations Stock status
Slide 69: Adagio EBITDA Growth A23-BP28
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: ADAGIO EBITDA GROWTH A23-BP28 By 2028, the objective of €39.5m EBITDA will be achieved through operational excellence (+0,3pt SAT increase p.a.), renovation of 30% of the network, the opening of 30 new sites, the securisation of our direct d
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Slide 71: maeva Key Figures
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: M A E VA KEY FIGURES MAEVA (FY23 VS 2019) MARKETPLACE OFFER CUSTOMERS FINANCIAL KPIs 0.6M 124M GMV Campsites P2P HOLIDAYMAKERS >2,100 >38,000 +40% VS 2019 +65% VS 2019 94% FRENCH 880€ AOV > 6,800 HOSTING Residences PROVIDERS 21% REPEATING >1
Slide 72: Our Vision
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: M A E VA the European hospitality booster and services platform that links holidaymakers and independant hosting providers Services to Services to hosting providers holidaymakers Distribution 2 major brands & affiliation platform offering a
Slide 73: maeva Strategic Priorities
B R A N D S I N C O N T R O L O F T H E I R D E S T I N Y: M A E VA Strengthen maeva S E R V I C E S towards private and professional 1 Develop maeva platform I N E U R O P E to develop and boost direct sales 2 actors of vacation rental markets 3 Be the distribution platform B E S T - I N C L A S S
Slide 74: Heading for European Markets
# 1 M A K E O F M A E VA A E U R O P E A N D I S T R I B U T I O N P L AT F O R M Heading for European markets 1 2019 2 2024 3 2025 X3 European guests by 2027 Capital Markets Day – May 2024 74
Slide 75: Push Innovative Servicial Approach
W I T H I T S S P E C I F I C S M I L I N G A N D S E RV I C I A L D N A PUSH INNOVATIVE SERVICIAL APPROACH FOR CONVERSION & PERFORMANCE +20% OF CVR BY 2028 +30% DIRECT SALES BY 2028 +50% R E P E AT I N G C U S TO M E R S B Y 2 0 2 8 Capital Markets Day – May 2024 75
Slide 76: Develop maeva Services Through Affiliated Programs
# 2 D E V E L O P M A E VA S E R V I C E S T H R O U G H A F F I L I AT E D P R O G R A M S REAL ESTATE DISTRIBUTION & HOLIDAYS CONCEPTS SUPPORT SERVICES CONCIERGERIE & CHANNEL SOLUTIONS & AFFILIATED IN ECOLOGICAL MANAGEMENT SERVICES PROGRAMS TRANSITION 150 M A E VA A F F I L I AT E S I N C A M P S
Slide 77: Heading for Low Carbon Holidays
# 3 B E S T - I N - C L A S S L O W C A R B O N P L AT F O R M HEADING FOR LOW CARBON HOLIDAYS 70% of our carbon footprint is due to transportation of our guests Promoting Boosting local Bringing tourism in eco-committed 5 Europe partners on Passez la commande Europe ! closer by train maeva.com 1/3
Slide 78: Confirm Consolidation Strategy in France and Europe
# 4 C O N F I R M C O N S O L I D AT I O N S T R AT E G Y I N F R A N C E A N D E U R O P E C O N T I N U E S TA R T E G I C B U Y & B U I L D S T R AT E G I E S O N S M A L L I N D E P E N D E N T VA C AT I O N R E N TA L S U P P L I E R S T O S T R E N G T H E N M A E VA G R O W T H BUILD A COMPRE
Slide 79: maeva EBITDA Growth Plan
M A E VA E B I T D A G R O W T H P L A N 2 0 2 3 - 2 0 2 8 the European hospitality booster and services platform that links holidaymakers and independant hosting EBITDA GROWTH providers A23-BP28 X 5.6 Developing our marketplaces and 01 services to holidaymakers in EUROPE to 7.3 expand and boost dir
Slide 80: Conclusion
CONCLUSION Groupe Pierre & Vacances (enterParcs
Slide 81: Conclusion
CONCLUSION o PVCP IN A POSITION TODAY TO PUSH FORWARD ITS AMBITION TOWARDS 2028 BEYOND REINVENTION ✓ 2 years after ReInvention launch, PVCP relies today on unique strengths and positioning ✓ Recovery in profitability and growth across all brands ✓ Operational & Financial performance 1 year ahead of
Slide 82: Q&A
Det Q&A Groupe Pierre & Vacances (enterParcs
Pierre et Vacances-Center Parcs Group — Investor Day (May 2024) on 6ix