Accor Sa · EURONEXT:AC
Accor Sa — Q1 2012 Earnings Presentation
21 slides from Accor Sa's earnings presentation, Apr 17, 2012
Slide 1: Conference Call Q1 2012 Revenue
CONFERENCE CALL Q1 2012 REVENUE April 17, 2012
Slide 2: Q1 2012 – Key takeaways
Q1 2012 – Key takeaways Revenue reaches €1,371m, up 4.5% L/L ► +1.2% as disclosed – Hotels up 4.5% L/L at €1,346m Solid business levels across all segments, driven by price increases ► Up & Midscale Hotels up 3.6% L/L, Economy Hotels up 5.4%, Economy US up 6.8% Strong revenue growth outside Europe ►
Slide 3: Q1 2012 Revenue: €1,371m
Q1 2012 Revenue: €1,371m Like-for-Like Like-for-like growth +4.5% +€61.2m ► Hotels: +4.5% Subsidiaries: +3.3% Fees: +22.2% Expansion Impact of expansion +0.8% +€10.9m ► Openings: 7,720 new rooms (56 hotels) of which 3,492 rooms in Franchise (45% of openings) 3,450 rooms in Management (45% of
Slide 4: Up & Midscale – Q1 2012 Revenue: €781m, +3.6% L/L
Up & Midscale – Q1 2012 Revenue: €781m, +3.6% L/L +5.7% +6.2% +5.3% +3.1% +3.6% Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Solid performance driven by the increase in Management and Franchise fees (+21.4%) Robust growth in emerging countries : Q1 revenue up 8.3% in the Asia-Pacific region and up 13.5% in Lat
Slide 5: Economy excl. US – Q1 2012 Revenue: €437m, +5.4% L/L
Economy excl. US – Q1 2012 Revenue: €437m, +5.4% L/L +7.5% +6.7% +5.9% +4.8% +5.4% Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Continued solid performance in Q1 Increase in Management and Franchise fees (+26.3%) Emerging markets still booming : Q1 revenue up 13.3% in the Asia-Pacific region and up 17.1% in
Slide 6: France
France Q1 2012 Occupancy Net ARR Net RevPAR Revenue Subsidiaries only % D (L/L, pts) € D (L/L, %) € D (L/L, %) €m D (L/L, %) Up & Midscale 55.0 -1.8 116.9 +2.3 64.3 -0.9 265 +1.4 Economy 63.8 -2.2 54.3 +3.0 34.6 -0.5 155 +2.1 Growth driven by price on all segments Good performance on the quarter
Slide 7: Germany
Germany Q1 2012 Occupancy Net ARR Net RevPAR Revenue Subsidiaries only % D (L/L, pts) € D (L/L, %) € D (L/L, %) €m D (L/L, %) Up & Midscale 61.8 +1.0 88.0 +0.5 54.4 +2.3 135 +3.1 Economy 64.3 +0.2 55.9 +1.9 36.0 +2.3 59 +3.9 Increased volumes in business clients thanks to solid economic environmen
Slide 8: UK
UK Q1 2012 Occupancy Net ARR Net RevPAR Revenue Subsidiaries only % D (L/L, pts) € D (L/L, %) € D (L/L, %) €m D (L/L, %) Up & Midscale 72.8 -0.7 95.0 +0.5 69.1 -0.5 53 +1.4 Economy 72.1 +2.8 52.8 -0.6 38.0 +3.5 38 +5.0 High occupancy close to record levels, especially in London (79.6% for Up&Midsc
Slide 9: Economy US – Q1 2012 Revenue: €128m, up +6.8% L/L
Economy US – Q1 2012 Revenue: €128m, up +6.8% L/L +6.8% +4.1% +5.1% +4.5% +3.4% Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Ongoing recovery trend with occupancy up 1.2pt at 59.8% and price up 3.6% at 42.6$ Fees up 17.7% thanks to 79 franchised hotels opened in 2011 46% franchised hotels at the end of March
Slide 10: Record expansion in Q1: 7,720 rooms (56 hotels)
Record expansion in Q1: 7,720 rooms (56 hotels) Room openings during Q1 2012 Room openings during Q1 2012 by region by ownership Europe North 24% Management Franchise America 15% Asia x% Pacific 45% Management 39% 45% Franchise x% Latin 9% 13% America Africa Middle East Owned & Leased 10% 90% under
Slide 11: Conclusion
CONCLUSION 11 Accor Q1 Revenue - April 17, 2012
Slide 12: Conclusion
Conclusion ►Good performance across all segments, especially on Economy hotels ►Positive impact from asset light strategy on fee based income ►Europe stable at high level – Fast growth in emerging countries and the US ►Current trend to carry on in Q2 ►Expansion plan well on track Agenda Annual Gener
Slide 13: Appendices
APPENDICES 13 Accor Q1 Revenue - April 17, 2012
Slide 14: Hotels Q1 2012 RevPAR by segment - Worldwide
Hotels Q1 2012 RevPAR by segment - Worldwide Occupancy rate Average Room Rate RevPAR Subsidiaries Subsidiaries Subsidiaries Subsidiaries & managed Excl. VAT (chg in (chg (chg (chg in (chg in (chg in (chg in %, (in %) pts, (in €) in %, (in €) in %, pts, L/L) %, L/L) %, L/L) reported) rep.) rep.) rep.
Slide 15: Hotels Q1 2011 RevPAR by segment - Worldwide
Hotels Q1 2011 RevPAR by segment - Worldwide Occupancy rate Average Room Rate RevPAR Subsidiaries Subsidiaries Subsidiaries Subsidiaries & managed Excl. VAT (chg in (chg (chg (chg in (chg in (chg in (chg in %, (in %) pts, (in €) in %, (in €) in %, pts, L/L) %, L/L) %, L/L) reported) rep.) rep.) rep.
Slide 16: Up & Midscale Hotels Q1 2012 RevPAR by Country
Up & Midscale Hotels Q1 2012 RevPAR by Country Average Room Occupancy Rate RevPAR Rate Excl. VAT Number of Subsidiaries & Subsidiaries Subsidiaries Subsidiaries managed rooms (chg in (chg in (chg in (chg in %, (in local currency) (reported) (in %) pts, (in €) %, (in €) %, rep.) L/L) rep.) rep.) Fran
Slide 17: Economy Hotels Q1 2012 RevPAR by Country
Economy Hotels Q1 2012 RevPAR by Country Average Room Occupancy Rate RevPAR Rate Excl. VAT Number of Subsidiaries rooms Subsidiaries Subsidiaries Subsidiaries & managed (in local currency) (chg (chg in (chg in %, (chg in (reported) (in %) in pts, (in €) (in €) %, rep.) L/L) %, rep.) rep.) France 37,
Slide 18: Reconciliation: Q1 2012 L/L RevPAR vs Revenue
Reconciliation: Q1 2012 L/L RevPAR vs Revenue RevPAR RevPAR Like-for-like Total Sub. and Worldwide Sub. Only room Like-for-like Managed Like-for-like revenues revenues Reported Up & Midscale +6.1% +1.3% +2.4% +3.6% Economy +6.1% +3.4% +4.3% +5.4% Economy U.S ($) +7.2% +5.8% +6.4% +6.8% 18 Accor Q1 R
Slide 19: Reconciliation: Q1 2011 L/L RevPAR vs Revenue
Reconciliation: Q1 2011 L/L RevPAR vs Revenue RevPAR RevPAR Like-for-like Total Sub. and Worldwide Sub. Only room Like-for-like Managed Like-for-like revenues revenues Reported Up & Midscale +10.7% +6.7% +6.6% +5.7% Economy +8.9% +6.2% +5.9% +5.9% Economy U.S ($) +4.4% +3.5% +3.3% +4.1% 19 Accor Q1
Slide 20: Q1 2012 Management & Franchise Fees by Segment
Q1 2012 Management & Franchise Fees by Segment Change, Q1 2011 Q1 2012 at constant exchange rates Revenue Managed Franchised Total Managed Franchised Total Managed Franchised Total (in €k) Up & Midscale 55,162 14,003 69,165 66,773 17,545 84,318 +20.5% +24.7% +21.4% Economy 7,016 10,792 17,808 9,650
Slide 21: Q1 2012 Exchange Rates
Q1 2012 Exchange Rates Q1 2011 Q1 2012 2012 vs 2011 1€ = X foreign currency average rate average rate Change Australian dollar (AUD) 1.36 1.24 +8.7% Brazilian real (BRL) 2.28 2.32 -1.7% Sterling (GBP) 0.85 0.83 +2.2% Swiss Franc (CHF) 1.29 1.21 +6.2% US Dollar (USD) 1.37 1.31 +4.1% Chinese Yuan (CNY