Voyageurs du Monde achieved a positive increase in sales of 151.7 ME in 2021, a gross profit margin of 47.1 ME, and EBITDA of 7.8 ME. Ebit is 1.1ME green and the net loss group has a 0.3ME share. The development of the 2021 pandemic, coupled with the very small number of accessible countries, has significantly disrupted activities. With several destinations open (Europe, Africa), only the summer, which departs steadily at the end of the year, makes it possible to achieve sales of € 151.7 million. Sales increased 29% compared to 2020, but remained down 69% compared to 2019.
The group continued to take significant cost savings. In the first half of 2021, by maintaining a partial activity scheme that covers 100% of the unemployed and implementing a long-term partial activity scheme (coverage rate of 85%) from September, a significant reduction was possible. Salary. With fixed cost assistance in the first half of 2021 and a significant 88% reduction in communications budget, we have completed a 54% reduction in operating costs compared to 2019.
EBITDA reached 7.8 million euros (-13.2 million euros in 2020 and +33.6 million euros in 2019). Taking into account depreciation, depreciation and financial costs, the end result is -0.3 million euros (-13.7 million euros in 2020 and +20.3 million euros in 2019).
After the repayment of the € 50 million PGE (state-guaranteed loan), shareholders’ equity was € 102.5 million and cash was € 232.3 million.
“Since the beginning of this year, the effects of the war in Ukraine have been minor, but have returned to normal (except for destination Russia and Central European countries),” the group said. Sales trends from the beginning of the year have improved month-on-month compared to 2019. January is -42%, February is -16%, and March is -7%. However, sluggish sales in the fall of 2021 affected the departure at the beginning of the year. Therefore, the trend on April 18, 2022 is that departures acquired in 2022 (€ 249 million) are down 24% compared to departures acquired in the same period in 2019. From February onwards, for adventure trips, this trend is the same since April.
Throughout the year, except for the resumption of the Covid pandemic and / or the deterioration of the international situation related to Ukraine, the Group’s goal (excluding external growth) is to achieve 70-75% sales in 2019. That is about 350 million euros in 2022.
The group has signed an investment protocol between the founders, Certares, Nov Tourisme, historic investors (Crédit Mutuel Equity, Bpifrance, Montefiore Investment, BNP Paribas Développement) and their controlling shareholder Advantage companies that have entered the capital. In this way, Voyageurs du Monde has double-issued convertible bonds totaling € 130 million. The reservation issuance in April 2021 is € 75 million, and the public debt in July 2021 is € 55 million.
This strengthening of the financial structure should allow the Group to accelerate its international development strategy for essential and geographically complementary activities. The goal is to achieve 40-50% of sales internationally.