Pierre et Vacances (VAC) AGM 2026 summary

Opening remarks and agenda

• The meeting was held at Handilab, highlighting the group's commitment to inclusion and accessibility.

• The agenda included a review of the past fiscal year, financial results, strategic initiatives, and a focus on disability inclusion.

• All board members and auditors were present, and the bureau was duly constituted.

Financial performance review

• Revenue grew 4% in tourism, reaching nearly €2 billion, with EBITDA at €181 million and net profit at €41 million, up 41%.

• Operational cash flow was €74 million, and net cash position improved to €45 million.

• The group completed a major debt refinancing, repaying €328 million and achieving a robust financial structure.

• Occupancy rates reached 74%, with positive trends in bookings for 2026.

Board and executive committee updates

• Diane Gelac was appointed as the new CFO, following a successful financial restructuring.

• The board emphasized a new phase focused on growth and value creation, with a leadership team aligned to the 2030 plan.