Accor Sa · EURONEXT:AC
Accor Sa — Q3 2013 Earnings Presentation
21 slides from Accor Sa's earnings presentation, Oct 17, 2013
Slide 1: Conference Call Q3 2013 Revenue
CONFERENCE CALL Q3 2013 REVENUE October 17, 2013 1 Direction / Département - Nom de la Présentation - Septembre 2012
Slide 2: Q3 2013 – Key takeaways
Q3 2013 – Key takeaways Gross revenue up 4.2% as reported over 9M in 2013 ► o/w +4.3% for hotels, despite negative Forex effects in Q3 Strong increase in L/L revenue across most key markets ► +3.8% L/L revenue increase at Group level in Q3 Strong increase in fee revenue, up 18.2% L/L in Q3 Expansion
Slide 3: Q3 2013 Revenue: €1,440m, up 3.8% L/L
Q3 2013 Revenue: €1,440m, up 3.8% L/L Like-for-Like Like-for-like growth +3.8% €56m ► Hotels: +3.8% Owned & leased: +2.4% Fees: +18.2%* Expansion Impact of expansion +2.1% +€31m ► Openings: 4,160 new rooms (36 hotels) in Q3, of which 1,708 rooms in Franchise (41% of openings) 1,995 rooms in
Slide 4: Expansion & Asset management to date in 2013
Expansion & Asset management to date in 2013 Room openings - 9M 2013 by Asset Management operating mode Owned 4% 2013 to-date Leased Conversions into Variable Lease contracts 9 14% Conversions into Management contracts 7 Franchise 37% Conversions into Franchise contracts 20 Outright Sales or Termina
Slide 5: Up & Midscale – Q3 2013 Revenue: €879m, up 3.6% L/L
Up & Midscale – Q3 2013 Revenue: €879m, up 3.6% L/L September-end 2013: +2.8% +3.7% +3.6% +2.4% +0.7% +1.6% Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 L/L Revenue growth (in %) Owned & Leased +0.7 +1.3 -1.4 +2.6 +2.4 Management & Franchise fees +10.6 +10.5 +17.8 +12.8 +14.1 ► Strong demand levels from both leisu
Slide 6: Economy – Q3 2013 Revenue: €531m, up 4.2% L/L
Economy – Q3 2013 Revenue: €531m, up 4.2% L/L September-end 2013: +1.8% +4.2% +2.1% +2.4% +0.5% Q1 13 Q3 12 Q4 12 -1.8% Q2 13 Q3 13 L/L Revenue growth (in %) Owned & Leased -0.4 +0.7 -3.0 +1.6 +2.6 Management & Franchise fees +20.5 +28.7 +19.7 +18.0 +32.0 ► Positive impact from innovative and opport
Slide 7: Conclusion
CONCLUSION 7 Accor Q3 Revenue – October 17, 2013
Slide 8: Conclusion: 2013 EBIT target confirmed
Conclusion ►Solid business trends across all segments and geographies ►Progressive improvement in European Provinces, especially in France ►Strong fee-based income increase with positive impact of the asset light strategy ►Ongoing trend expected for Q4 2013 ►Negative currency effects in H2 to be off
Slide 9: Appendices
APPENDICES 9 Accor Q3 Revenue – October 17, 2013
Slide 10: Hotels September-end 2013 RevPAR by segment – Worldwide
Hotels September-end 2013 RevPAR by segment – Worldwide Owned & Owned & leased leased + managed Occupancy rate Average Room Rate RevPAR Excl. VAT (chg (chg (chg in (chg in (chg in (chg in (chg in %, (in %) (in €) in %, (in €) in %, pts, rep.) pts, L/L) %, L/L) %, L/L) reported) rep.) rep.) Up & Mids
Slide 11: Hotels Q3 2013 RevPAR by segment – Worldwide
Hotels Q3 2013 RevPAR by segment – Worldwide Owned & Owned & leased leased + managed Occupancy rate Average Room Rate RevPAR Excl. VAT (chg (chg (chg in (chg in (chg in (chg in (chg in %, (in %) (in €) in %, (in €) in %, pts, rep.) pts, L/L) %, L/L) %, L/L) reported) rep.) rep.) Up & Midscale (in €)
Slide 12: Q3 2013 RevPAR & Revenue – Key markets
Q3 2013 RevPAR & Revenue – Key markets Occupancy* Net ARR* Net RevPAR* Revenue Up & Midscale % D (L/L, € D (L/L, € D (L/L, €m D (L/L, pts) %) %) %) France 73.8 +3.1 114 -1.1 84 +3.1 288 +3.5 Germany 73.4 +2.4 89 -2.4 65 +1.0 136 +0.1 UK (£) 86.7 +3.9 87 -1.8 75 +2.7 67 +2.5 * For owned & leased only
Slide 13: Up & Midscale Hotels September-end 2013 RevPAR by Country
Up & Midscale Hotels September-end 2013 RevPAR by Country Owned & Owned & leased leased + managed Average Room Excl. VAT Number Occupancy Rate Rate RevPAR of rooms (chg in (chg (chg in (chg in %, (in %) pts, (in €) in %, (in €) (reported) %, rep.) L/L) (in local currency) rep.) rep.) France 24,341 6
Slide 14: Up & Midscale Hotels Q3 2013 RevPAR by Country
Up & Midscale Hotels Q3 2013 RevPAR by Country Owned & Owned & leased leased + managed Average Room Excl. VAT Number Occupancy Rate Rate RevPAR of rooms (chg in (chg (chg in (chg in %, (in %) pts, (in €) in %, (in €) (reported) %, rep.) L/L) (in local currency) rep.) rep.) France 24,341 73.8 +3.2 11
Slide 15: Economy Hotels September-end 2013 RevPAR by Country
Economy Hotels September-end 2013 RevPAR by Country Owned & Owned & leased leased + managed Average Room Excl. VAT Number Occupancy Rate Rate RevPAR of rooms (chg in (chg (chg in (chg in %, (in %) pts, (in €) in %, (in €) (reported) %, rep.) L/L) (in local currency) rep.) rep.) France 35,796 71.0 +0
Slide 16: Economy Hotels Q3 2013 RevPAR by Country
Economy Hotels Q3 2013 RevPAR by Country Owned & Owned & leased leased + managed Average Room Excl. VAT Number Occupancy Rate Rate RevPAR of rooms (chg in (chg (chg in (chg in %, (in %) pts, (in €) in %, (in €) (reported) %, rep.) L/L) (in local currency) rep.) rep.) France 35,796 76.2 +2.1 53 +0.7
Slide 17: Reconciliation: September-end 2013 L/L RevPAR vs Revenue
Reconciliation: September-end 2013 L/L RevPAR vs Revenue RevPAR RevPAR Like-for-like Total O&L and Worldwide O&L Only room Like-for-like Managed Like-for-like revenues revenues Reported Up & Midscale +1.5% +2.1% +1.5% +2.8% Economy +0.2% +1.1% +0.8% +1.8% 17 Accor Q3 Revenue – October 17, 2013
Slide 18: Reconciliation: Q3 2013 L/L RevPAR vs Revenue
Reconciliation: Q3 2013 L/L RevPAR vs Revenue RevPAR RevPAR Like-for-like Total O&L and Worldwide O&L Only room Like-for-like Managed Like-for-like revenues revenues Reported Up & Midscale -2.4% +2.7% +2.5% +3.6% Economy -0.1% +3.0% +2.9% +4.2% 18 Accor Q3 Revenue – October 17, 2013
Slide 19: September-end 2013 Exchange Rates
September-end 2013 Exchange Rates September-end September-end 2013 vs. 2012 2012 2013 Change 1€ = X foreign currency average rate average rate Australian dollar (AUD) 1.24 1.35 -8.6% Brazilian real (BRL) 2.46 2.79 -13.4% Sterling (GBP) 0.81 0.85 -4,9% Swiss Franc (CHF) 1.20 1.23 -2.2% US Dollar (USD
Slide 20: Q3 2013 Exchange Rates
Q3 2013 Exchange Rates Q3 2012 Q3 2013 2013 vs. 2012 1€ = X foreign currency average rate average rate Change Australian dollar (AUD) 1.20 1.45 -20.1% Brazilian real (BRL) 2.54 3.03 -19.3% Sterling (GBP) 0.79 0.85 -7.9% Swiss Franc (CHF) 1.20 1.23 -2.6% US Dollar (USD) 1.25 1.32 -5.8% Chinese Yuan (
Slide 21: Management & Franchise Fees by Segment
Management & Franchise Fees by Segment Change, Revenue September-end 2012 September-end 2013 at constant exchange rates * (in €m) Managed Franchised Total Managed Franchised Total Total Up & 214.7 65.3 280.0 262.0 71.3 333.3 14.7% Midscale Economy 28.9 49.3 78.1 37.0 57.5 94.5 23.7% TOTAL 243.6 114.