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Club Med 1st quarter 2004 like-for-like revenues

Revenues for the first quarter of financial year 2004 (November 2003 – January 2004) amounted to 342 million Euros against…

Revenues for the first quarter of financial year 2004 (November 2003 – January 2004) amounted to 342 million Euros against  340 million Euros in the first quarter 2003.
This represents an increase of 4.1% on a like-for-like basis and at constant exchange rates, and +0.8% on a reported basis.
There was a currency impact of (9) million Euros, stemming principally from the weakness of the dollar.

For the winter season, cumulative reservations for Club Mediterranee at 6th March were up + 2.6 % against the same date last year. On 8th December 2003, this figure was + 1.7 %.

The breakdown by geographic zone is as follows :

published at presentation of annual results 15th December 2003

On the occasion of the AGM held, Henri Giscard d’Estaing, Chairman of the Board, said: « Club Mediterranee is returning to grow in activities and continuing the resegmentation of its village offer. Shortly, it will open with the forthcoming of villages at Marrakech-La Palmeraie and El Gouna and re open of the newly refurbished Coral Beach village.

Thanks to its evolving financial model, the group should be able to achieve its record levels of operating income – in the region of 100 million Euros – in the next 2 to 3 years, whilst strengthening the incomparable character of the Group ».

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