Accor: Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy (France)
• Growth in revenue: up 3.8% like-for-like1 to €5,454 million
• Strong recurring free cash flow of €304 million |
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Accor: Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy (France)
• Growth in revenue: up 3.8% like-for-like1 to €5,454 million
• Strong recurring free cash flow of €304 million |
Category: Europe - France - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2015-02-19
• Improved EBIT, up 11.7% like-for-like at €602 million
• Operating profit before tax and non-recurring items up 22.1% like-for-like at €578 million
• Net profit of €223 million : +77%
• Dividend of €0.95 per share2 : +19%
• Solid operating performance in second-half 2014, thanks to a steady business level, including in France, and the measures taken as part of the cost-savings plan.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “The in-depth transformation being carried out by Accor started to pay off in 2014, with the Group posting excellent results in both its businesses – HotelServices and HotelInvest – and strengthening its leadership position. In 2015, the economic environment is expected to continue to vary significantly from one region to another. In addition, along with the rest of the industry, we must meet the challenges created by the digital transition, which is spurring us to rethink our businesses, strengthen our ties with our customers whose needs and habits are changing, and adjust our corporate culture and operating procedures. Accor is a robust company with strong brands, dedicated teams and clearly defined objectives. This year, we will demonstrate once again our capacity to deliver on our objectives with determination and discipline – driving further progress in our strategy and our operating and financial performance and becoming the best performing and most highly valued hotel group for our guests, our partners, our employees and our shareholders.”
2014 highlights: • Complete reorganization of the Group around the HotelServices and HotelInvest businesses
• Various refinancing transactions carried out in support of the Group’s strategy, for a total amount of €3.7 billion
• Investment of €1 billion in the Group’s property portfolio
• Stronger partnership with Orbis in Central Europe
• Acquisition of a 36.6% stake in Mama Shelter
• Launch of the Digital Plan of €225 million
• Signature of a long-term alliance with Huazhu (China Lodging) to step up the development of the Group’s brands in China
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