(Boursier.com) — Accor was among the big rebounds of the day on the Paris stock market, up more than 10% to 26.20 euros, as the market as a whole rallied nearly 5% in hopes of seeing the conflict between Russia and the calm down after Kiev’s announcement to no longer seek NATO membership. Note that among the opinions of analysts, Berenberg went back to the ‘purchase’ on the file, aiming for a price of 32 euros. The group returned to a positive result last year with a net profit group share of 85 ME, against a loss of -1.988 MdE in 2020 with the outbreak of the health crisis. Gross operating surplus stood at 22 ME (11.1 ME consensus), while it was negative at 391 ME in 2020, for a turnover of 2.204 MdsE (2.14 MdsE expected by the market), up 34% at constant scope and exchange rates. Highly watched in the industry, the RevPAR posted an overall drop of 46% over the year. This decline reflects an environment impacted by health measures linked to the resurgence of the Covid-19 epidemic, despite a marked improvement in overall activity since April 2021.
Accor will continue to focus its efforts on the return to profitability initiated in 2021, benefiting from the rebound in activity and the lasting positive impact of its RESET cost savings plan. The group aims to restore an ordinary dividend calculated on the basis of 50% of its recurring free cash flow, in line with its historic dividend policy. Accor will also continue to work on restoring its pre-Covid credit profile, and may consider an additional return beyond the ordinary dividend provided this objective is not compromised.
The hotel group did not provide any figures for 2022, except for net network growth of 3.5%…
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