Key indicators

HP-Novotel-Hyderabad-Convention-Centre-Inde

HP-Novotel-Hyderabad-Convention-Centre-Inde

Income statements
in million of euros 2012 2013 Restated 2014(1) 2015 2016 2016(4) IFRS 5
Consolidated revenue 5,649 5,425 5,454 5,581 5,631 1,603
EBITDAR 1,788 1,731 1,772 1,780 1,781 604
Operating Profit Before Tax and non-recurring items 468 442 578 605 571 278
Net Income, Group Share (599) 126 223 244 265 265
Earnings per share (in €) (2.64) 0.55 0.96 0.88 0.88 0.88
Dividend per Share (in €) 0.76(2) 0.80(3) 0.95 1.00 1.05 1.05

(1) With the application of IFRS 11 since January 2014, joint ventures may no longer be consolidated using the proportional method, but instead must be accounted for by the equity method in the same way as associates. 2013 results figures have been adjusted accordingly.

(2) 2012 dividend submitted for approval at the shareholders' meeting of April 25, 2013.

(3) Ordinary dividend per share recommended by the Board of Directors to the Annual Shareholders’Meeting of April 29,2014

(4) HotelInvest's revenues and costs in the process of being sold are reclassified as Income from discontinued operations.

Complete financial data can be found in the "registration document (pdf - 13,8 mb)" filed with France's securities regulator (AMF).

In accordance with European Commission Regulation on the application of international Financial Reporting Standards, the 2005 AccorHotels Group consolidated financial statements, including comparative figures for 2004, have been prepared with the International Accounting Standards and International Financial Standards (IAS/IFRS) from January 1, 2005.
Historical datas in French accounting standards are available in corresponding registration document (pdf - 13,8 mb).

Balance sheets - Assets
in million of euros 2012 2013* 2014 2015 2016 2016 IFRS
Goodwill 840 691 701 697 1,817 1,496
Intangible fixed assets 264 281 283 307 2,433 2,401
Property, plant and equipment 2,592 2,396 3,157 3,024 3,682 562
Total financial assets 632 548 586 654 987 844
Total non-current assets 4,479 4,065 4,794 4,756 9,184 5,545
Total current assets 2,925 2,877 3,614 3,990 2,630 1,861
Assets held for sales - - - - 50 4,457
Total assets 7,560 7,003 8,754 8,953 11,864 11,864

* With the application of IFRS 11 since January 2014, joint ventures may no longer be consolidated using the proportional method, but instead must be accounted for by the equity method in the same way as associates. 2013 results figures have been adjusted accordingly.

Balance sheets - Liabilities and Shareholders' equity
in million of euros 2012 2013* 2014 2015 2016 2016 IFRS
Shareholders' equity Group share 2,759 2,538 3,657 3,762 5,658 5,658
Shareholders' equity 2,989 2,752 3,869 3,916 5,925 5,925
Total non-current liabilities 1,799 1,925 2,957 2,916 3,052 2,907
Total current liabilities 2,736 2,300 1,907 2,031 2,878 1,855
Liabilities related to assets held for sales - - - - 9 1,177
Total liabilities and shareholders' equity 7,560 7,003 8,754 8,953 11,864 11,864

* With the application of IFRS 11 since January 2014, joint ventures may no longer be consolidated using the proportional method, but instead must be accounted for by the equity method in the same way as associates. 2013 results figures have been adjusted accordingly.

Cash flow statements
in millions of euros 2012 2013 Restated* 2014 2015 2016 IFRS
Funds from ordinary activities 786 707 767 814 867
Net cash from operating activities 709 848 875 886 779
Renovation and maintenance expenditure (299) (264) (262) (269) (137)
Development expenditure (676) (190) (1,313) (366) (3,067)
Proceeds from disposals of assets 371 334 128 356 158
Net cash used in investments/divestments 529 (120) (1,447) (280) (3,738)
Net cash from financing activities 440 (305) 1505 (230) 1677
Net change in cash and cash equivalents 498 54 784 266 (1,509)

* With the application of IFRS 22 since January 2014, joint ventures may no longer be consolidated using the proportional method, but instead must be accounted for by the equity method in the same way as associates. 2013 results figures have been adjusted accordingly.
Adjusted for the effects of the change of method concerning customer loyalty programs.

Complete financial data can be found in the "registration document (pdf - 13,8 mb)" filed with France's securities regulator (AMF). In accordance with European Commission Regulation on the application of International Financial Reporting Standards, the 2005 AccorHotels Group consolidated financial statements, including comparative figures for 2004, have been prepared with the International Accounting Standards and International Financial Standards (IAS/IFRS) from January 1, 2005.
Historical datas in French accounting standards are available in corresponding registration document (pdf - 13,8 mb).

Financial ratios
2010 2011 Restated* 2012 2013 Restated* 2014 2015 H1 2016
Adjusted Funds from operations / Adjusted net debt(1) 20,1% 26% 28.5% 31.1% 27.1% 33.6% 25,1%

(1) Adjusted with rental expense

* With the application of IFRS 11 since January 2014, joint ventures may no longer be consolidated using the proportional method, but instead must be accounted for by the equity method in the same way as associates. 2013 results figures have been adjusted accordingly.

Value creation
2010 2011 Restated* 2012 2013 Restated* 2014 2015 H1 2016
Group ROCE 11.3% 12.3% 14% 14% 14.6% 14.4% 13.9%
Capital employed (in EUR million) 8,123 6,322 6,355 6,314 6,633 6,983 6,940

Value creation

Return On Capital Employed (R.O.C.E.) is a key management indicator used internally to measure the performance of the Group's various businesses. It is also an indicator of the profitability of assets that are either non-consolidated or accounted for by the equity method.

Value creation is calculated as follows:

(ROCE after tax - weighted average cost of capital) x capital employed

Segmentation information

Consolidated revenue for the end of December 2016 totaled EUR 5,631 million, up 2.2% year on year on a reported basis and down 4.7% at comparable scope of consolidation and exchange rates (like for like).

Full-year 2016 revenue

By segment :

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full-year-2016-revenue-by-segment

By region :

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