Slide 1: H1 2023 Results
H1 2023 Results July 27%, 2023 A ACCOR
Slide 2: Limitations and qualifications
By reading the following presentation slides, you further agree to be bound by the following limitations and qualifications: This document does not constitute the 2023 Interim Financial report, which will be separately published on the website (www.group.accor.com). This presentation is for informat
Slide 3: H1 2023 Highlights
H1 2023 Highlights Solid business momentum Strong profitability and cash flow 1 Systemwide RevPAR 1 €447m EBITDA +38% vs. H1 22 +109% vs H1 2022 +25% vs. Q2 22 Positive Services to Owners 2 Net Unit Growth at +3.5% LTM 2 €157m Recurring FCF vs. €41m in H1 2022 3 €2,402m Revenue 3 Raised FY23 EBITDA
Slide 4: Q2 RevPAR Driven by Continued Gains in Occupancy and Sustained Pricing Momentum
Q2 23 RevPAR Driven by Continued Gains in Occupancy and Sustained Pricing Momentum Premium, Midscale & Economy Luxury & Lifestyle +37% +26% +25% +24% +24% +20% +20% ENA MEASPAC Americas Total Luxury Lifestyle Total Occupancy Rate Average Room Rate RevPAR L/L year-on-year
Slide 5: Portfolio as of June 30th, 2023
Portfolio as of June 30th, 2023 Premium, Midscale & Economy Luxury & Lifestyle LTM M&F LTM M&F Network Pipeline revenue Network Pipeline revenue Hotels 4,973 1,017 Hotels 514 245 €1.2k/room €3.8k/room Rooms 693k 169k Rooms 113k 48k In rooms In rooms 327k 294k 110k 82k 73k 50k 26k 30k 22k 9k ENA MEAS
Slide 6: H1 Group Revenue Growth in line with RevPAR
Mondrian, Singapore Duxton, Singapore H1 23 Group Revenue Growth in line with RevPAR H1 H1 Reported L/L In € millions 2022 2023 change Change M&F 296 403 +36% +39% STO 363 521 +44% +41% HA & Other 420 494 +18% +24% Prem., Mid. & Eco. 1,079 1,418 +31% +34% M&F 138 210 +52% +58% STO 479 655 +37% +36%
Slide 7: M&F Revenue Growth Boosted by Incentives
MGallery, Jerusalem, Israel M&F Revenue Growth Boosted by Incentives H1 H1 Reported L/L In € millions 2022 2023 change Change ENA 193 242 +26% +26% MEASPAC 80 128 +59% +68% Americas 23 33 +44% +45% Prem., Mid. & Eco. 296 403 +36% +39% Luxury 99 153 +55% +60% Lifestyle 40 57 +44% +54% Luxury & Lifest
Slide 8: Group EBITDA Doubled
Fairmont Ramla Residence, Saudi Arabia Group EBITDA Doubled H1 H1 Reported L/L In € millions 2022 2023 change Change M&F 212 276 +30% +33% STO (68) 2 N/A N/A HA & Other 57 52 (10)% (5)% Prem., Mid. & Eco. 201 330 +64% +71% M&F 85 141 +67% +76% STO (21) 19 N/A N/A HA & Other 1 14 N/A N/A Luxury & Lif
Slide 9: Driving Significant Improvement in Net Profit
Driving Significant Improvement in Net Profit In € millions H1 2022 H1 2023 EBITDA 205 447 Depreciation and amortization (107) (131) EBIT 99 316 Share of net losses of associates and JVs (27) 9 Non-recurring items 25 26 Operating profit 97 351 Net financial expense (32) (45) Income tax (25) (48) Min
Slide 10: Cash Conversion well ahead of Prior Year
Cash Conversion well ahead of Prior Year In € millions H1 2022 H1 2023 EBITDA 205 447 Cost of net debt (40) (28) Income tax paid (31) (67) Lease payments (36) (49) Non-cash items & other 23 23 FUNDS FROM OPERATIONS 121 325 Recurring investments (55) (80) Working capital (25) (88) RECURRING FREE CASH
Slide 11: Key Takeaways
MGallery Mama Palazzo Shelter, Tirso,France Rennes, Cagliari, Italy Key Takeaways 1 Solid momentum sustained in Q2 2 Sound demand expected for the summer on high comps 3 Raised FY23 guidance • RevPAR growth expected at the high end of the 15-20% range • EBITDA expected between €930m and €970m
Slide 12: Appendices
Appendices Pullman Phuket Arcadia Naithon Beach, Thailand
Slide 13: H1 2023 Revenue vs. H1 2022 – From Like-for-Like to Reported
H1 2023 Revenue vs. H1 2022 – From Like-for-Like to Reported Like-for-Like +35% €599m Perimeter Mainly Paris Society +8% €139m Negative currency effect Currency USD: €7m (4)% €(61)m • • BRL: €2m • CAD: €(8)m • TRY: €(11)m • AUD: €(20)m Reported • EGP: €(20)m +39% €677m
Slide 14: Q2 Group Revenue
greet Salon de Provence, France Q2 Group Revenue Q2 Q2 Reported L/L In € millions 2022 2023 change Change M&F 194 230 +18% +22% STO 223 258 +16% +12% HA & Other 239 250 +5% +14% Prem., Mid. & Eco. 655 738 +13% +16% M&F 82 116 +41% +50% STO 271 340 +26% +27% HA & Other 23 88 +275% +6% Luxury & Lifest
Slide 15: Q2 M&F Revenue
Mövenpick Samarkand, Uzbekistan Q2 M&F Revenue Q2 Q2 Reported L/L In € millions 2022 2023 change Change ENA 133 142 +7% +7% MEASPAC 48 69 +43% +55% Americas 13 19 +48% +54% Prem., Mid. & Eco. 194 230 +18% +22% Luxury 59 82 +38% +46% Lifestyle 23 34 +47% +59% Luxury & Lifestyle 82 116 +41% +50% Total
Slide 16: Q2 2023 Revenue vs. Q2 2022 – From Like-for-Like to Reported
Q2 2023 Revenue vs. Q2 2022 – From Like-for-Like to Reported Like-for-Like +21% €217m Perimeter Mainly Paris Society +8% €80m Negative currency effect Currency BRL: €(2)m (6)% €(59)m • • USD: €(4)m • CAD: €(7)m • TRY: €(7)m • EGP: €(10)m Reported • AUD: €(19)m +23% €238m
Slide 17: RevPAR
\2\ RevPAR
Slide 18: RevPAR – Systemwide
RevPAR – Systemwide Q2 2023 vs. Q2 2022 H1 2023 vs. H1 2022 OR ARR RevPAR OR ARR RevPAR ENA 72.1 3.2 104 15.0 75 20.3 65.1 8.0 97 15.9 63 31.9 MEASPAC 66.0 8.5 85 19.4 56 36.6 65.2 12.0 86 23.9 56 50.9 Americas 57.0 0.1 66 23.4 38 23.7 56.8 3.3 66 27.2 37 34.9 Prem., Mid. & Eco. 68.0 5.0 93 17.0 63
Slide 19: Portfolio
\3\ Portfolio
Slide 20: Portfolio as of June 30th, 2023
Portfolio as of June 30th, 2023 OWNED & LEASED MANAGED FRANCHISED TOTAL # hotels # rooms # hotels # rooms # hotels # rooms # hotels # rooms ENA 8 2,493 928 139,175 2,012 184,876 2,948 326,544 MEASPAC 42 7,474 779 178,455 754 107,595 1,575 293,524 Americas 56 11,395 168 29,566 226 31,760 450 72,721 P
Slide 21: Exchange rates
\4\ Exchange rates
Slide 22: H1 2023 Exchange Rates
H1 2023 Exchange Rates H1 2022 H1 2023 H1 2023 1€ = X foreign currency Average Rate Average Rate vs. H1 2022 American Dollar (USD) 1.10 1.08 (1)% Australian Dollar (AUD) 1.52 1.60 +5% Brazilian Real (BRL) 5.58 5.50 (2)% Turkish Lira (TRY) 16.16 21.27 +32% Canadian Dollar (CAD) 1.39 1.46 +5% British
Slide 23: Q2 2023 Exchange Rates
Q2 2023 Exchange Rates Q2 2022 Q2 2023 Q2 2023 1€ = X foreign currency Average Rate Average Rate vs. Q2 2022 American Dollar (USD) 1.07 1.09 +2% Australian Dollar (AUD) 1.49 1.63 +10% Brazilian Real (BRL) 5.22 5.41 +4% Turkish Lira (TRY) 16.71 22.31 +33% Canadian Dollar (CAD) 1.36 1.47 +8% British S
Slide 24: Glossary
\5\ Glossary
Slide 25: Glossary
Glossary Division definitions • M&F: Management & Franchise • STO: Services to Owners • HA & Other: Hotel Assets & Other Region organization • ENA: Europe North Africa including France, Germany and UK • MEASPAC: Middle East Asia Pacific including United Arab Emirates, Dubai, China and Australia • Am
Slide 26: Accor
ACCOR ORIENT EXPRESS \ RAFFLES \ FAENA \ BANYAN TREE \ FAIRMONT \ EMBLEMS \ SOFITEL \ MGALLERY enlSHiE «21¢ MUSEUM HOTEL \ 25HOURS \ DELANO \ GLENEAGLES \ HYDE \ J0&J30E \ MAMA SHELTER \ MONDRIAN MORGANS ORIGINALS \ SLS \ SO \ THE HOXTON \ TRIBE \ WORKING FROM \ RIXOS \ PARIS SOCIETY MANTIS \ ART SE