Homair – Success of Homair’s strategy [english]

Montefiore Investment, an independent management company specialised in “Locally Supplied Services” (LSS), is delighted with the excellent financial performance for 2009 posted by Homair Vacances, in which Montefiore has a 59% stake.

Significant developments since Montefiore’s investment in Homair Vacances:

1. The firm has helped accelerate the company’s development; in four years, Homair
   Vacances has grown to become the leading camping holidays operator in France and southern Europe. The company’s revenues have increased from €17.8 million in 20051 to €42.7 million in 20092, for an average annual growth rate of 35 %. During the same period, operating income more than doubled to €5.8 million in 2009.
2. Montefiore Investment has also promoted Homair Vacances’ expansion outside France, where activities now represent 25% of the company’s revenues.
3. . Convinced that the « click & mortar », model would play an important role in the company’s evolution, Montefiore Investment helped the company to expand this tool, thus increasing the amount of direct reservations made on line from 20% in 2005 to 63% today.
4. Thanks to its strong financial performance, Homair Vacances was introduced on the Alternext stock exchange in June 2007, in what was at the time the largest IPO in the exchange’s history.

“We remain confident about Homair Vacances’ growth prospects over the coming yearsdespite a difficult economic environment,” commented Eric Bismuth, President of Montefiore Investment. “Thanks to a talented management team, combined with a growth strategy that has proved successful, the company should be able to sign new partnerships and develop its mobile-home fleet in 2010.”

Homair Vacances’ impressive results, like those of its other portfolio companies, validates the role Montefiore Investment plays as a catalyst for profitable growth and a strategic asset for companies in the LSS sector