Accor Sa · EURONEXT:AC
Accor Sa — Shareholder Meeting (May 2022)
57 slides from Accor Sa's shareholder meeting presentation, May 20, 2022
Slide 1: Combined Shareholders' Meeting
Combined Shareholders’ Meeting May 20", 2022 A ACCOR
Slide 2: Sébastien Bazin, Chairman & CEO
25Hours Florence, Italie 1 Sébastien Bazin Chairman & CEO
Slide 3: Besma Boumaza, Group General Counsel & Board Secretary
Fairmont Taghazout Bay 2 Besma Boumaza Group General Counsel & Board Secretary
Slide 4: Jean-Jacques Morin, Deputy CEO & CFO
Mercure Maldives Kooddoo Resort 3 Jean-Jacques Morin Deputy CEO & CFO
Slide 5: 2021 Results
Rixos Premium Gocek - Mugla, Turkey 1 2021 Results
Slide 6: 2021 Financial Highlights
2021 Financial Highlights Strict operational discipline Significant trading improvement better than guidance 1 Systemwide RevPAR 1 €22m EBITDA (46)% L/L vs. 2019 H2 21 EBITDA at €142m Monthly sequential EBITDA sensitivity at €16.4m improvement since April per RevPAR point 2 Net Unit Growth 2 €(246)m
Slide 7: FY21 Net System Growth at 3%, FY22 at 3.5%
FY21 Net System Growth at 3% in line with Guidance, FY22 Net System Growth at 3.5% Geographical breakdown Historical trend 240k 778k In rooms, In rooms 740k 753k as of December 2021 704k 180k 616k 162k 95k 102k 93k 208k 212k 214k 45k 198k 41k 161k 18k 15k South North Asia-Pacific IMEAT Americas 2017
Slide 8: Net Profit back in Positive Territory
Net Profit back in Positive Territory In € millions FY 2020 FY 2021 EBITDA (391) 22 Depreciation, amortization and provision (274) (249) EBIT (665) (228) (a) Share of net losses of associates and JVs (578) (273) (a) Driven by AccorInvest Non-recurring items (o/w impairments) (958) 554 (b) (b) In 202
Slide 9: Strengthened Debt Profile following SLB issuance
Strengthened Debt Profile following SLB issuance 2021 Financing Initiatives Debt profile* as of December 2021 In €m 1 Inaugural Sustainability-Linked Bond (SLB) €700m with 7-year maturity and annual Sequana coupon of 2.375% bond HQ loan Sustainability 3.5x oversubscribed 258 -linked bond 2 Sound Lia
Slide 10: Q1 2022 Business
greet – Beaune, France 2 Q1 2022 Business
Slide 11: Q1 Highlights
Q1 22 Highlights Financial highlights Dynamic RevPAR recovery 1 Systemwide RevPAR 1 Sustained rebound +108% reported vs. Q1 21 led by domestic business & leisure (25)% L/L vs. Q1 19 2 Acceleration of international travel 2 Net Unit Growth notably with global borders reopening +2.5% LTM 3 €701m Reven
Slide 12: Share price evolution since last AGM
Share price evolution since last AGM 115 110 105 100 95 -4% SBF 120 90 85 -15% 80 75 70 65 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22
Slide 13: Sébastien Bazin, Chairman & CEO
V Villas Phuket MGallery 4 Sébastien Bazin Chairman & CEO
Slide 14: The Covid Accelerated Secular Trends
The Covid Accelerated Secular Trends Travel Desire even Stronger New Booking Patterns e.g. Bleisure Planet Preservation is a Must Rise of Premium Leisure Experiences Live & Work from anywhere Reinventing Global Events
Slide 15: Leisure Recovery will more than Offset International Lag by 2023
“Leisure” Recovery will more than Offset “International” Lag by 2023 20% 20% 0% 0% -20% -20% -40% -40% -60% -60% -80% -80% International Domestic International Domestic 20% 40% 40% 2020 2021 2022 2023 2024 % in Accor mix Source: Oxford Tourism Economics
Slide 16: 2021 Business Highlights
2021 Business Highlights Consolidated brand Captured rebound Signed opportunities powerhouse 1 Strong pent-up demand 1 Major events for travel as soon as 1 Ennismore completion restrictions were lifted 2 Translated in pricing 2 New Luxury soft brand above 2019 in some destinations 2 Enriched partner
Slide 17: Among Notable 2021 Openings
Among Notable 2021 Openings Fairmont Century Plaza Mövenpick Hobart New Novotel design concept 400 rooms, Los Angeles, USA 221 rooms, Hobart, Australia 375 rooms, Dubai, UAE 25hours One Central JO&JOE Vienna New ibis design concept 434 rooms, Dubai, UAE 115 rooms, Vienna, Austria 200 rooms, Timisoar
Slide 18: Our solidarity actions
Copyright Pexels Our solidarity actions
Slide 19: ALL Heartist Fund
Context Status as of April 2022 1 April 2020: creation of the ALL Heartist Fund 1 €32.5 million allocated to more than 104,000 requests 2 Allocation of 25% of the 2020 dividend, 2 Help to employees in physical or financial i.e. €70 million distress represent 92% of grants 3 Priority: 250,000 Heartis
Slide 20: Ukraine – Group actions of solidarity & support
Ukraine – Group actions of solidarity & support • Results of internal fundraising campaign with UNHCR : €100k doubled by Accor • Commitment to invest 1.5m€ in solidarity and humanitarian actions • 200.000+ room nights for refugees • Donations to hotel teams • Refugees' accommodation support • Financ
Slide 21: Our perspectives for 2022 and beyond
Our perspectives for 2022 and beyond 1 Keep capturing the rebound initiated since April 2021 2 Attract and retain talents 3 Develop our network through higher fee generation per room 4 Pursue roll-out of our ESG strategy 5 Be at the forefront of innovation & lifestyle experiences
Slide 22: Brune Poirson, Chief Sustainability Officer
Movenpick Resort Waverly Phu Quoc - Vietnam 5 Brune Poirson Chief Sustainability Officer
Slide 23: Sustainability is part of Accor's DNA
Sustainability is part of Accor’s DNA A solid sustainability … that has allowed us to lead program… Climate change rating: A- Industry ranking: #1 Rating: 68/100 Gold Rating: A Industry ranking: #2 Rating: 67/100 (“Advanced”) Industry ranking: #2 Rating: 73/100
Slide 24: Expectations for Sustainability have never been higher
Today, expectations for Sustainability have never been higher LEGAL & BUSINESS INCREASED GOVERNMENTAL DEMANDS ATTRACT TALENTS SCRUTINY REQUIREMENTS REGULATIONS INVESTORS SALARIES PR BACKLASH SOFT LAWS STAKEHOLDERS WORKING CONDITIONS ONLINE REVIEWS (e.g. OTA, INSURERS) COP26 / COP15 TALENT RETENTION
Slide 25: The new Accor's Sustainability Strategic Framework
The new Accor’s Sustainability Strategic Framework Séjour People Nature Alimentation Exploration
Slide 26: The new Accor's Sustainability Strategic Framework
The new Accor’s Sustainability Strategic Framework Stay People People Nature Eat Explore
Slide 27: The new Accor's Sustainability Strategic Framework
The new Accor’s Sustainability Strategic Framework S O CIAL CAR BO N R E DU CTIO N E L E V ATO R PL AS TIC, WAS TE & CIR CU L AR WO ME N E CO NO MY Stay WATE R S TE WAR DS HIP HU MAN R IGHTS People People FO O D WAS TE REDU CTION L O CAL CO MMU NITY Nature R E S PO NS IBL E S HAR E S PACE S O U R CI
Slide 28: How will an Accor hotel look like in 2030?
How will an Accor hotel look like in 2030? TURNING HOTELS INTO SOCIAL AND CULTURAL ANCHORS IN THEIR LOCAL COMMUNITY WILL DRIVE AN ENHANCED MORE RESILIENT AND LOCALIZED P&L In 2030, hotel will be an even more immersive place, anchored in the territory, contributing and where employees can deploy thei
Slide 29: 2021: the year of acceleration
2021 : the year of acceleration UNE A RENEWED AN ALIGNMENT OF GOUVERNANCE GOVERNANCE FINANCE AND KEYS PROJECTS RENOUVELEE SUSTAINABILITY AN AMBITION CARRIED THE SUCCESSFULLY COMMITMENT TO REDUCE DIRECTLY BY THE CEO AND LAUNCH OF A OUR ASBOLUTE CARBON THE EXCOM SUSTAINABILITY-LINKED EMISSIONS BOND IN
Slide 30: Integration of ESG criterias in bonuses
A renewed governance Integration of ESG criterias in bonuses 1 2 3 80% of hotels with zero 39% of women on 90% of employees who have single use plastic items* management committees* completed a Sustainability (2022) (2022) training (2022) Key positions Key positions 5% (Group) Key positions 5% (scop
Slide 31: Reduction pathway to net-zero carbon emissions
Key projects - Carbone Reduction pathway to net-zero carbon emissions 2025 2030 2050 Scopes 1 & 2: -25% Scopes 1 & 2: -46% Net-zero Scope 3: -15% Scope 3: -28% Targets validated by the “Science Based Targets”, the The international standard for corporate climate action
Slide 32: Building new collaborations & alliances to reach our ambition
Key projects - Carbon Building new collaborations & alliances to reach our ambition Working with our competitors to become net zero by 2050
Slide 33: Zero single use plastics in the tourism sector
Key projects - Plastics Zero single use plastics in the tourism sector: 100 signatories A powerful global movement including accommodations providers, suppliers, tour operators, platforms, destinations… The « Global Tourism Plastics Initiative » (Jan 2020) United Nations Environment Programme + Worl
Slide 34: Expanding our work for women
Key projects - Women Expanding our work for women Reinforcing our commitments Building new partnerships Leader de la Coalition “Gender-based Violence” 2021-2026 Commitments to Accor leading one of the Action Coalitions in the A grant of 5 million support actions in “Generation Equality” program from
Slide 35: Besma Boumaza, Group General Counsel & Board Secretary
MGallery Heritage Hotel Fermai, Croatia 6 Besma Boumaza Group General Counsel & Board Secretary
Slide 36: Composition of the Board of Directors in 2021
Composition of the Board of Directors in 2021 12 Directors (including 2 Directors representing employees) 60% of Directors are independent 40% of Directors are women
Slide 37: Composition of the Board after the Shareholders' Meeting
Composition of the Board of Directors at the close of the Shareholders’ Meeting* Mrs. Asma Mrs. Iliane Dumas Mr. Nicolas Sarkozy Abdulrahman Representing employees Independent Al-Khulaifi Mrs. Christine Serre Mme Qionger Jiang Mr. Ugo Arzani Representing Independent employees Mrs. Hélène Auriol Mrs.
Slide 38: Board of Director's works in 2021
Board of Director’s works in 2021 11 meetings with an average attendance rate of 93% Key topics covered: • Monitoring the health crisis and its consequences for the Group • Monitoring the missions conducted by the ALL Heartist Fund • Issue of a €700 million Sustainability-Linked Bond • Creation of a
Slide 39: Board of Directors' Committees in 2021
Board of Directors’ Committees in 2021 4 specialized committees Audit, Compliance & Risks Committee Appointments, Compensation & CSR Committee • 5 members • 7 members • 80% of Independent Directors • 67% of Independent Directors • 4 meetings in 2021 • 5 meetings in 2021 • 95% attendance • 94% attend
Slide 40: Report of the Appointments, Compensation & CSR Committee
SLS Dubai, U.A.E 7 Report of the Appointments, Compensation & CSR Committee Sophie Gasperment Committee chairman
Slide 41: Besma Boumaza, Group General Counsel & Board Secretary
Sofitel Roma, Villa Borghese - Italy Besma Boumaza Group General Counsel & Board Secretary
Slide 42: Statutory Auditors' Reports
Novotel Megève Mont Blanc, France 8 Statutory Auditors’ Reports Cédric Haaser Cabinet PricewaterhouseCoopers
Slide 43: Statutory Auditors' reports by resolution
Universal Notice of Ordinary resolutions Resolution Registration Document meeting Statutory Auditors’ report on the financial statements 1 p. 398 p. 56 Statutory Auditors’ report on the consolidated financial statements 2 p. 360 p. 60 Statutory Auditors’ special report on related-party agreements 15
Slide 44: Presentation of the resolutions
Pullman Cairns International, Australia 9 Presentation of the resolutions Besma Boumaza Group General Counsel & Board Secretary
Slide 45: First to third resolutions
First to third resolutions APPROVAL OF THE PARENT COMPANY & THE CONSOLIDATED FINANCIAL STATEMENTS FOR FISCAL YEAR ENDED DECEMBER 31, 2021 & APPROPRIATION OF RESULT Parent company financial statements Net loss: - €540 million Consolidated financial statements Consolidated revenue: €2,204 million Net
Slide 46: Fourth to sixth resolutions
Fourth to sixth resolutions APPOINTMENT OF NEW DIRECTORS Mrs. Asma Abdulrahman Mr. Ugo Arzani Mrs. Hélène Auriol Potier Al-Khulaifi Non-independent Director Non-independent Director Independent Director For a statutory 3-year term
Slide 47: Seventh to tenth resolutions
Seventh to tenth resolutions RENEWAL OF DIRECTORS Mrs. Qionger Jiang Mr. Nicolas Sarkozy Independent Independent Director Director Mrs. Isabelle Simon Mr. Sarmad Zok Independent Non-independent Director Director For a statutory 3-year term
Slide 48: Eleventh and twelfth resolutions
Eleventh and twelfth resolutions COMPENSATION FOR FISCAL YEAR 2021: EX POST SAY-ON-PAY • Resolution N° 11: Shareholders’ approval on the report relating to the 2021 compensation of all executive officers (Chairman & Chief Executive Officer and Directors) • Resolution N° 12: Shareholders’ approval on
Slide 49: Thirteenth and fourteenth resolutions
Thirteenth and fourteenth resolutions COMPENSATION POLICY FOR FISCAL YEAR 2022: EX ANTE SAY-ON-PAY • Resolution N° 13: Shareholders’ approval on the compensation policy applicable to the Chairman & Chief Executive Officer for 2022 • Resolution N° 14: Shareholders’ approval on the compensation policy
Slide 50: Fifteenth resolution
Fifteenth resolution APPROVAL OF A RELATED-PARTY AGREEMENT – SPECIAL REPORT OF THE STATUTORY AUDITORS • Approval of a shareholders’ agreement with Bazeo Europe SAS (a company managed by Mr. Sébastien Bazin), Anima SAS and Mr. Alexandre Cadain with respect to the shareholding interest in Worklib SAS
Slide 51: Sixteenth resolution
Sixteenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO TRADE IN THE COMPANY’S SHARES • Maximum number of shares that may be acquired: 10% of the share capital • Maximum purchase price: €70 per share • Duration: 18 months • Buyback excluded in a public offer period
Slide 52: Seventeenth and eighteenth resolutions
Seventeenth and eighteenth resolutions GRANT OF PERFORMANCE SHARES TO EMPLOYEES AND EXECUTIVE OFFICERS • Maximum of 2.5% of the share capital • Subject to performance conditions • Shares granted to executive officers are capped at 15% of the total number of shares granted
Slide 53: Nineteenth resolution
Nineteenth resolution SHARE CAPITAL INCREASES TO THE BENEFIT OF MEMBERS OF A GROUP EMPLOYEE SHARE OWNERSHIP PLAN (« PLAN D’ÉPARGNE ENTREPRISE ») • Issue of ordinary shares and/or securities carrying rights to shares, reserved for employees who are members of a Group employee share ownership plan • M
Slide 54: Twentieth resolution
Twentieth resolution ISSUE OF FREE SHARE WARRANTS TO SHAREHOLDERS IN THE EVENT OF A PUBLIC OFFER ON THE COMPANY’S SHARES • Maximum issue: 25% of the share capital • Implementation subject to the prior approval of a special committee of the Board of Directors, chaired by the Vice-Chairman and Lead In
Slide 55: Twenty-first resolution
Twenty-first resolution POWERS TO CARRY OUT FORMALITIES • Usual resolution granting powers to carry out the relevant formalities further to this Shareholders’ Meeting
Slide 56: Q&A
Q&A ACCOR ~ ComaiNeD SHAREHOLDERS’ MEETING - MAY 20, 2022
Slide 57: ACCOR
ACCOR RAFFLES \ ORIENT EXPRESS \ BANYAN TREE \ SOFITEL LEGEND \ FAIRMONT \ EMBLEMS \ SOFITEL \ RIXOS ONEFINESTAY \ MANTIS \ MGALLERY \ ART SERIES \ PULLMAN \ SWISSOTEL \ ANGSANA \ MOVENPICK GRAND MERCURE \ PEPPERS \ THE SEBEL \ MANTRA \ NOVOTEL \ MERCURE \ ADAGIO \ BREAKFREE \ IBIS IBIS STYLES \ GRE