{"id":25396,"date":"2023-01-17T11:01:19","date_gmt":"2023-01-17T10:01:19","guid":{"rendered":"https:\/\/www.groupepvcp.com\/newsroom\/first-quarter-2022-2023-revenue\/"},"modified":"2026-09-24T13:00:33","modified_gmt":"2026-09-24T11:00:33","slug":"first-quarter-2022-2023-revenue","status":"publish","type":"newsroom","link":"https:\/\/www.groupepvcp.com\/en\/newsroom\/first-quarter-2022-2023-revenue\/","title":{"rendered":"First quarter 2022\/2023 revenue"},"content":{"rendered":"<p style=\"text-align: center\"><strong>Revenue from the tourism businesses up 19.4% compared with Q1 of the previous year<\/strong><\/p>\n<p style=\"text-align: left\">\u00a0<\/p>\n<h2 class=\"western\" align=\"left\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">1<\/span><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-size: medium\">]<\/span><\/span><span style=\"color: #1f497d\"> <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">Revenue <\/span><\/span><\/h2>\n<p class=\"western\" align=\"left\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><a name=\"_Hlk124532930\"><\/a><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\"><strong>Under IFRS accounting, revenue for the first quarter of 2022\/2023 totalled \u20ac351.8 million, compared with \u20ac314.2m in Q1 2021\/2022.<\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">The Group comments on its revenue and the associated financial indicators, in compliance with its operational reporting namely: <\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">with the presentation of joint undertakings in proportional consolidation,<\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">excluding the impact of IFRS16 application.<\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">A reconciliation table presenting revenue stemming from operational reporting and revenue under IFRS accounting is presented at the end of the press release.<\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Revenue is also presented according to the following operating segments, as defined under IFRS 8<\/span><span style=\"font-family: Helvetica, serif\">, i.e.: <\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">the <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Center Parcs<\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\"> operating segment covering both operation of the domains marketed under the Center Parcs, Sunparks and Villages Nature brands, and the building\/renovation activities for tourism assets and property marketing in the Netherlands, Germany and Belgium;<\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">the <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Pierre &amp; Vacances<\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\"> operating segment covering the tourism businesses operated in France and Spain under the Pierre &amp; Vacances and maeva.com brands, the property development business in Spain and the Asset Management business line (responsible notably for relations with individual and institutional lessors <\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">the <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Adagio<\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\"> operating segment covering operation of the city residences leased by the Pierre &amp; Vacances-Center Parcs Group and entrusted to the Adagio SAS joint venture under management mandates, as well as operation of the sites directly leased by the joint venture;<\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">an operational sector covering the <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Major Projects <\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\">business line responsible for construction and development of new assets on behalf of the Group in France, and <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Senioriales<\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\">, the subsidiary specialised in property development and operation of non-medicalised residences for independent elderly people;<\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">the <\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Corporate <\/strong><\/span><\/span><span style=\"font-family: Helvetica, serif\">operating segment covering primarily the holding company activities.<\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<div id=\"sdfootnote1\">\n<p align=\"justify\">\u00a0<\/p>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"5\">\n<tbody>\n<tr valign=\"bottom\">\n<td width=\"45%\" height=\"28\">\n<p class=\"western\" align=\"left\"><span style=\"color: #808080\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>(\u20acm)<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2022\/2023<\/strong> <br \/>according to operational reporting<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2021\/2022<\/strong> <br \/>according to operational reporting<strong> <\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>Change<br \/>vs. 2021\/2022<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"11\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Center Parcs<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">261.8<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">237.6<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">10.2%<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"6\">\n<p class=\"western\" align=\"right\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>o\/w accommodation revenue<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>185.0<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>159.0<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>16.3%<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"11\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Pierre\u00a0&amp;\u00a0Vacances<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">54.0<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">52.4<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">3.1%<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"7\">\n<p class=\"western\" align=\"right\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>o\/w accommodation revenue<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>37.3<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>35.7<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>4.4%<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"9\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Adagio<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">55.3<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">36.7<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">50.7%<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"8\">\n<p class=\"western\" align=\"right\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>o\/w accommodation revenue<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>50.0<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>33.0<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #4472c4\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>51.7%<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"11\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Major Projects &amp; Seniorales<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">19.1<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">28.6<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">-33.3%<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"45%\" height=\"6\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Corporate<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">0.4<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">0.2<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">99.1%<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#004f8a\" width=\"45%\" height=\"13\">\n<p class=\"western\" align=\"left\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><strong>Q1 GROUP REVENUE<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #002060\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><strong>390.7<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><strong>355.5<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#004f8a\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #ffffff\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><strong>9.9%<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td width=\"45%\" height=\"10\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>Accommodation revenue<\/em><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\">\u00a0<\/p>\n<\/td>\n<td width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>272.4<\/em><\/span><\/span><\/p>\n<\/td>\n<td width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>227.8<\/em><\/span><\/span><\/p>\n<\/td>\n<td width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>19.6%<\/em><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td width=\"45%\" height=\"7\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>Supplementary income<\/em><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>71.2<\/em><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>60.0<\/em><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em>18.7%<\/em><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td width=\"45%\" height=\"9\">\n<p class=\"western\" align=\"right\"><span style=\"color: #004f8a\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>Income from the tourism businesses<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>343.6<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>287.7<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>19.4%<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td width=\"45%\" height=\"9\">\n<p class=\"western\" align=\"right\"><span style=\"color: #004f8a\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>Other revenue <\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"3%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #004f8a\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #004f8a\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>47.1<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #004f8a\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>67.8<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"17%\">\n<p class=\"western\" align=\"center\"><span style=\"color: #004f8a\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"><em><strong>-30.5%<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><u><strong>Revenue from tourism activities<\/strong><\/u><\/span><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Despite current macro-economic tension, revenue from the tourism activities showed robust momentum, rising 19.4% relative to Q1 2021\/2022 which was still affected by the uncertain health environment. This level was in line with targets for the period and reassuring in terms of the Group\u2019s continuing action plans.<\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #4f81bd\"><span style=\"font-family: Helvetica, serif\"><em><strong>Accommodation revenue\u00a0 <\/strong><\/em><\/span><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\"><strong>Q1 2022\/2023 accommodation revenue totalled \u20ac272.4, up 19.6% relative to the year-earlier period, after a rise of 15.9% recorded over the summer season. <\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">All of the Group\u2019s brands contributed to momentum in revenue growth: <\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Center Parcs<\/strong><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">: +16.3%<\/span><\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Growth was driven by both the rise in the number of nights sold (+9.3%) and average letting rates (+6.4%), benefiting from both the French domains (+18.6%) and the domains located in BNG<\/span><span style=\"font-family: Helvetica, serif\"> (+15.1%, of which +31.1% in the Netherlands, +8.0% in Belgium and +4.2% in Germany).<\/span><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"> <\/span><\/span><span style=\"font-family: Helvetica, serif\">The occupancy rate rose by almost two points to 73.3% over the quarter as a whole. <\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Pierre\u00a0&amp;\u00a0Vacances<\/strong><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">: +4.4% <\/span><\/span><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"> <\/span><\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Revenue generated by residences in France was virtually stable (-0.8%) partly in view of the decline in the stock of units managed by lease (-5% in night stays offered relative to the year-earlier period, given the non-renewal of leases or withdrawals from loss-making sites). On a constant stock basis, revenue was higher (RevPar up 4%). <\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Revenue from residences in Spain surged 43.9%, primarily driven by a volume effect.<\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Across all destinations, the brand recorded an 8.7% increase in average letting rates, helping to offset the four-point decline in the occupancy rate, partly caused by comparison with the exceptional privatisation of the Rouret site by the French Ministry of the Armies during the entire quarter in the year-earlier period.<\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><strong>Adagio<\/strong><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">: +51.7%<\/span><\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\">City residences recorded outstanding performances with a higher level of activity than that seen prior to the Covid crisis (+22% relative to Q1 2019\/2020). Average letting rates were up 38.6% relative to the year-earlier period, while the occupancy rate rose by eight points to 78%.<\/span><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #4f81bd\"><span style=\"font-family: Helvetica, serif\"><em><strong>Supplementary income<\/strong><\/em><\/span><\/span><span style=\"color: #4f81bd\"><span style=\"font-family: Helvetica, serif\"><em>: <\/em><\/span><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Supplementary income totalled \u20ac71.2 million, up 18.7% relative to Q1 of the previous year, driven by the rise in onsite sales (+22.1% in line with the trend noted in accommodation revenue) and growth in the distribution and management business for maeva.com (+3.6% over the quarter). <\/span><\/span><\/span><\/p>\n<div id=\"sdfootnote1\"><\/div>\n<div id=\"sdfootnote3\">\n<p class=\"sdfootnote-western\">\u00a0<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><u><strong>Other revenue<\/strong><\/u><\/span><\/span><span style=\"font-family: Helvetica, serif\">: <\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Revenue from other activities totalled \u20ac47.1 million in Q1 2022\/2023, compared with \u20ac67.8 million in Q1 2021\/2022 (decline with no significant impact on EBITDA), and concerned primarily:<\/span><\/span><\/span><\/p>\n<ul>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">renovation operations for Center Parcs domains on behalf of lessors for \u20ac26.1 million (compared with \u20ac36.7 million in Q1 2021\/2022). <\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">Seniorales residences for \u20ac18.2 million (vs. \u20ac13.9 million in Q1 2021\/2022);<\/span><\/span><\/span><\/p>\n<\/li>\n<li>\n<p align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">the Major Projects business line: \u20ac0.8 million (vs \u20ac14.7 million in Q1 2021\/2022 including \u20ac12.2 million related to the Center Parcs Domaine des Landes de Gascogne).\u00a0<\/span><\/span><\/span><\/span><\/p>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2 class=\"western\" align=\"left\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">2<\/span><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: medium\">]<\/span><\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"> <\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\">Outlook \u2013 Tourism businesses<\/span><\/span><\/span><\/h2>\n<p class=\"western\" align=\"justify\"><a name=\"_Hlk69201133\"><\/a><\/p>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\">In view of tourism reservations to date for the second quarter of 2022\/2023, the Group is currently expecting further growth in revenue compared with Q2 2021\/2022 for all of its brands. In a complex and particularly uncertain macro-economic backdrop, the Group is fully mobilised to reach its strategic targets and especially to control its cost structure. <\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"left\">\u00a0<\/p>\n<h2 class=\"western\" align=\"justify\"><span style=\"font-size: 10pt\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">3] Reconciliation table between <\/span><\/span><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\">revenue stemming from operational reporting and revenue under IFRS accounting.<\/span><\/span><\/span><\/h2>\n<h2 class=\"western\" align=\"justify\">\u00a0<\/h2>\n<p class=\"western\" align=\"justify\"><span style=\"font-family: Times New Roman, serif\"><span style=\"font-size: small\"><span style=\"font-family: Helvetica, serif\"><strong>Under IFRS accounting, revenue for the first quarter of 2022\/2023 totalled \u20ac351.8 million, compared with \u20ac314.2m in Q1 2021\/2022, with growth of almost 18% in the tourism businesses. Revenue growth concerned all of the brands, benefiting from both a rise in average letting rates and the number of nights sold.<\/strong><\/span><\/span><\/span><\/p>\n<h2 class=\"western\" align=\"left\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"> <\/span><\/span><\/span><\/h2>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<h2 class=\"western\" align=\"left\"><span style=\"color: #1f497d\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: small\"> <\/span><\/span><\/span><\/h2>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"5\">\n<tbody>\n<tr valign=\"top\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"35\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u20ac <span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em><strong>millions<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2022\/2023<\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>according to operational reporting <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>Restatement <\/em><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS11 <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>Impact <\/em><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS16 <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2022\/2023<\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"17\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Center Parcs<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Arial, serif\"><span style=\"font-size: xx-small\"><span style=\"color: #000000\">261.8<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-6.4<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-12.0<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">243.4<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Pierre\u00a0&amp;\u00a0Vacances<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">54.0<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">54.0<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Adagio<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">55.3<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-13.2<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">42.1<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Major Projects &amp; Seniorales<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">19.1<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-7.3<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-0.1<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">11.7<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Holding companies<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">0.4<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">0.4<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr valign=\"bottom\">\n<td bgcolor=\"#dce6f1\" width=\"37%\" height=\"21\">\n<p class=\"western\" align=\"left\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>Total Q1 2022\/2023<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>390.7<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>-26.9<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>-12.1<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>351.8<\/strong><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<table width=\"100%\" cellspacing=\"0\" cellpadding=\"5\">\n<tbody>\n<tr valign=\"top\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"35\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u20ac <span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em><strong>millions<\/strong><\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2021\/2022<\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>according to operational reporting <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>Restatement <\/em><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS11 <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>Impact <\/em><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS16 <\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>2021\/2022<\/strong><\/span><\/span><\/span><\/p>\n<p class=\"western\" align=\"right\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS<\/em><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"17\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Center Parcs<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">237.6<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-7.4<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-18.7<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">211.5<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Pierre\u00a0&amp;\u00a0Vacances<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">52.4<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">52.4<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Adagio<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">36.7<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-8.7<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">28.0<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Major Projects &amp; Seniorales<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">28.6<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-1.7<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">-4.7<\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">22.2<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\" height=\"10\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">Holding companies<\/span><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">0.2<\/span><\/span><\/p>\n<\/td>\n<td width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\">0.2<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<tr valign=\"bottom\">\n<td bgcolor=\"#ffffff\" width=\"37%\">\n<p class=\"western\" align=\"left\"><span style=\"color: #000000\">\u00a0<\/span><\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<td bgcolor=\"#ffffff\" width=\"16%\">\n<p class=\"western\" align=\"right\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr valign=\"bottom\">\n<td bgcolor=\"#dce6f1\" width=\"37%\" height=\"21\">\n<p class=\"western\" align=\"left\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>Total Q1 2021\/2022<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>355.5<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>-17.9<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>-23.4<\/strong><\/span><\/span><\/p>\n<\/td>\n<td bgcolor=\"#dce6f1\" width=\"16%\">\n<p class=\"western\" align=\"right\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><strong>314.2<\/strong><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"western\" align=\"justify\">\u00a0<\/p>\n<h3 class=\"western\" align=\"justify\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>IFRS11 adjustments: <\/em><\/span><\/span><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>for its operating reporting, the Group continues to integrate joint operations under the proportional integration method, considering that this presentation is a better reflection of its performance. In contrast, joint ventures are consolidated under equity associates in the consolidated IFRS accounts.<\/em><\/span><\/span><\/h3>\n<h3 class=\"western\" align=\"justify\"><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em>Impact of IFRS16:<\/em><\/span><\/span><span style=\"font-family: Helvetica, serif\"><span style=\"font-size: xx-small\"><em> The application of IFRS16 as of 1 October 2019 leads to the cancellation, in the financial statements, of a share of revenue and the capital gain for disposals undertaken under the framework of property operations with third-parties (given the Group\u2019s right-of-use rights). See below for the impact on Q1 revenue.\u00a0<\/em><\/span><\/span><\/h3>\n","protected":false},"parent":0,"template":"","class_list":["post-25396","newsroom","type-newsroom","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>First quarter 2022\/2023 revenue - PVCP Group<\/title>\n<meta name=\"description\" content=\"First quarter 2022\/2023 revenue\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First quarter 2022\/2023 revenue - PVCP Group\" \/>\n<meta property=\"og:description\" content=\"First quarter 2022\/2023 revenue\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.groupepvcp.com\/en\/newsroom\/first-quarter-2022-2023-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"PVCP Group\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pierreetvacances\/\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-24T11:00:33+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.groupepvcp.com\/en\/newsroom\/first-quarter-2022-2023-revenue\/\",\"url\":\"https:\/\/www.groupepvcp.com\/en\/newsroom\/first-quarter-2022-2023-revenue\/\",\"name\":\"First quarter 2022\/2023 revenue - 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