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Accor 2018 EBITDA In Line With Group's Guidance; LFL Revenue Up 8.8%

Accor (ACRFY.PK,ACRFF.PK) reported that its fiscal 2018 EBITDA increased 14.5% to 712 million euros from last year, or up 8.0% like-for-like, in line with the Group's guidance of between 700 million euros and 720 million euros. The EBITDA margin was roughly stable on a like-for-like basis at 19.7%. The sale of 65% of the capital of AccorInvest and its deconsolidation from Accor' financial statements resulted in a 2.4 billion euros capital gain, bringing net profit, Group share to 2.23 billion euros in 2018.

Consolidated 2018 revenue amounted to 3.61 billion euros, up 8.8% at constant scope of consolidation and exchange rates (like-for-like) and up 16.9% as reported compared with 2017. The Group said the difference between the like-for-like and reported changes stems primarily from the acquisitions completed over the year (including Mantra and Mövenpick), partly offset by a negative currency effect.

HotelServices reported business volume was 20 billion euros, up 13.4% at constant exchange rates, and revenue of 2.62 billion euros, up 8.4% like-for-like, for the period. Reported revenue growth amounted to 5.4%, impacted by a negative currency effect.

Accor' Board of Directors will ask shareholders at the General Meeting of April 30, 2019 to approve the payment of a dividend of 1.05 euros per share.

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