Accor won 77 more in the last year

Accor

achieved a net profit of 223 million euros in 2014, which is 76.9% more compared to 126 million euros recorded in the previous year, according to the French Hotel Group, which attributed these results to the savings plan and the restructuring of the portfolio of establishments, under HotelInvest.

Hotel Group turnover reached the 5.454 billion euros the year past, 0.5% more than it is a year and one 3.8% increase at constant rate, thanks to the good evolution of the markets where it operates.

Especially emphasized the key markets of the basin Mediterranean, Middle East and Africa (MMEA: 9.8%), Americas ( 7.2%), Central Europe, Northern and Eastern ( 4.7%) and Asia-Pacific ( 1.9%). Meanwhile, in France the pace slowed ( 0.4%), according to the company, by the increase in the rate of VAT of 7% to 10%.

During 2014, operating result gross operating result before depreciation and rentals (Ebitdar) of the Group was 1,772 million EUR, 2.4% more than during 2013, while the net result from operating (Ebit) reached 602 million euros, 15.6% more.

Moreover, the profit before taxes and nonrecurring items reached the 578 million euros, an increase of 22.1% over the previous year.

Almost 30,000 new rooms

Accor added 29556 new rooms, located in 208 establishments. Of them, 70% and 91% of duty outside of Europe.

President and CEO of Accor, Sébastien Bazin, highlighted the profound transformation of the group which, during the fiscal year 2014, has already begun to bear fruit, with results described as “excellent” in both business.

By activity, HotelServices achieved revenues of EUR 1,248 million, while the turnover of HotelInvest, owner of the settlements, reached 4.794 million euros.

Debt reduction

At end of 2014, Accor, which has a cash flow of 304 million euros, up by 25.1%, recurrent accumulated net debt of 159 million euros, 67 million euros less than a year earlier.

Hotel Group justified this debt reduction by some asset purchases, property of Moor Park and Axa Real Estate, amounting to 900 million euros, compensated with bonds for the same value.

In may, Accor acquired 97 hotel establishments in Europe who operated under lease, through its investment arm HotelInvest, in two portfolios that represent 86 and 11 hotels, respectively, for a total 12.838 rooms offer.

Accor shall propose to the approval of the general meeting of shareholders, convened for 28 April next, the payment of a dividend of 0.95 euros per share, as well as during 2013, charged to the results of the financial year 2014.

Shareholders will have the possibility of choosing between a payment of 100% in cash or 50% in cash and 50% in shares with a discount of 5%.

Looking to 2015, the group will accelerate its transformation with the restructuring of assets Hotelinvest, optimization of development and building the brand, thus modernizing its operations and an ambitious restructuring in the management of purchases and restoration.

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Posted by on Feb 19 2015. Filed under General. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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