Paris, March 13, 2001
| In EUR millions |
1999 |
2000 |
Change |
| Revenues |
6,105 |
7,007 |
+14.8% |
| Gross Operating Profit |
1,560 |
1,891 |
+21.2% |
| Profit before Tax |
595 |
751 |
+26.2% |
| Net Income Group Share |
352 |
447 |
+27.0% |
| Cash Flow from Operations |
778 |
984 |
+26.5% |
Earnings Per Share and Dividend
EPS grew 17.5% to EUR 2.28. A dividend of EUR 1 per share (plus tax
credit) is to be proposed to the Shareholders� Meeting, compared with EUR
0.90 last year.
Increase in Profitability
The Group�s expansion together with the achievements of the Accor 2000
project have propelled the pre-tax margin to 10.7% in 2000 versus 9.7%
the previous year.
Return on capital employed totaled 11.7% against 11.2% in 1999.
Balanced growth in long term growing markets
Hotels - The drivers for growth in 2001 and beyond come from:
-
The sector�s favorable fundamentals: in Europe growth in demand is higher
than supply; it is balanced in the US, while international tourism is continuing
its long-term expansion.
-
Accor�s continued dynamic development, focusing on Europe and major international
cities, right across the range from 0 to 5 stars.
-
Profitability gains through increased sales (pricing policy, the Internet)
and better cost control (distribution, the Internet, and economies of scale
generated by the strength of its network).
Services
Representing 17% of Accor�s profit in 2000, Services benefit from a
world-leader position and are continuing their rapid and profitable development:
-
geographically by penetrating new fast-growing markets (e.g. China, Venezuela,
Central Europe).
-
products (productivity and employee motivation).
-
technology (changeover from tickets to electronic cards).
Positive trends at February end 2001
-
RevPAR (Revenue Per Available Room): Europe + 10.8%, US (Economy hotels)
+ 4.1%.
-
Services volumes of issuance: + 12.4%
Targets for 2001-2005
-
Results: annual double-digit growth
-
EPS: to double in five years
Accor is the European leader and one of the world's largest groups in travel,
tourism and corporate services, with two major international activities:-
hotels: 3,500 hotels (390,000 rooms) in 90 countries, travel agencies,
restaurants and casinos;
- services to corporate clients and public institutions: each day,
12 million people in 31 countries use a broad range of services (Food Vouchers,
People's Care, Expenses Management, Incentive / Events) engineered and
managed by Accor. |
