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. |
