EVRY (dpa-AFX) - Accor (ACRFY.PK, ACRFF.PK) reported that its net profit, group share, for fiscal year 2024 declined to 610 million euros from last year's 633 million. But earnings per share increased to 2.33 euros from 2.22 euros in the prior year.
Consolidated Recurring EBITDA was 1.120 billion euros for 2024, up 12% from the 2023. This performance was due to the resilience of RevPAR, portfolio growth, margin improvement in the M&F business, strict cost discipline in Services to Owners and the development of the Hotel Assets & Other business (particularly in the Luxury & Lifestyle division) combined with a number of acquisitions (Rikas and Potel & Chabot).
Annual revenue was 5.606 billion euros up 11% from 2023. The growth breaks down into a 5% increase for the Premium, Midscale and Economy (PM&E) division and 19% for the Luxury & Lifestyle division.
Accor will submit to the approval of the Annual Shareholders' Meeting of May 28, 2025 the payment of an ordinary dividend of 1.26 euros per share, which is 7% above the dividend distributed in 2024.
The Group has confirmed its medium-term growth prospects, with annualized RevPAR growth anticipated to range between 3% and 4% (CAGR 2023-27). Additionally, recurring EBITDA growth is expected to be between 9% and 12% (CAGR 2023-27). The Group also announced a shareholder payout of approximately 3 billion euros over the period from 2023 to 2027, which notably includes a share buy-back program amounting to 440 million euros in fiscal year 2025.
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