logo
Plus   Neg
Share
Email

Accor H1 Revenues Up 28%

Accor (ACRFY.PK,ACRFF.PK) reported a first-half 2019 net profit of 141 million euros, down from 2.18 billion euros reported last year.

Profit before discontinued operations was 125 million euros compared to a loss of 115 million euros prior year. EBITDA amounted to 375 million euros in the first half of 2019, up 30% as reported from 288 million euros last year.

Consolidated revenue for the first-half rose 27.8% to 1.93 billion euros from $1.51 billion euros last year.

CEO Sebastien Bazin said, "Once again, Accor reported another semester of solid results, in line with its objectives set for the medium term. Transformed into an asset-light player, the Group is now capitalizing on its growth drivers — strong complementary brands that are leaders in the majority of their markets, a sustained development, leading positions in the most touristic markets and a unique ecosystem for the benefit of the Group's millions of customers and partner-owners. The execution of our plan and our business momentum remain on track to achieve another record year in 2019."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Toyota Motor Corp. has invested $394 million in U.S. electric air-taxi startup Joby Aviation as lead investor in the recent $590 million Series C financing. Toyota said it is continuing to leverage emerging technologies to provide "Mobility for All" as the lead investor as part of its transformation into a mobility company. As the world is facing severe consequences of increasing carbon emissions, Microsoft has announced various plans to tackle the issue. The company aims to reduce its own carbon emissions by more than half, and to be carbon negative by 2030. This means the company will remove more carbon than it emits each year. The company further announced a new $1 billion Climate Innovation Fund. With a view to expanding its presence in France, where it has been doing business for more than 100 years, Food and beverage giant Coca-Cola Co. (KO), during the Choose France Summit, announced 1 billion euros of investments in the country over the next five years. Coca-Cola Chairman and CEO James Quincey and President Emmanuel Macron is scheduled to elaborate on the plans in September.
Follow RTT
>