Report
Johanna Jourdain ...
  • Matthias Desmarais

Accor : H1 18 results (26/07 before open): solid RevPAR trend, 2018 EBITDA guidance could prompt some slight adjustments

>H1 18 results to be driven by RevPAR growth of 5%e - AccorHotels is due to publish its H1 18 earnings on 26 July before market open. We expect solid RevPAR trends in H1, at +5.0%e, i.e. +4.6%e in Q2, which points to a slight slowdown (+5.3% in Q1) mainly due to South America (+4.0%e in Q2 vs. +13.9% in Q1). In terms of market trends in H1, we expect further decent momentum in France (22% of EBIT) and Europe at 4.8%e (with +5.0% in Q2) as well as in North America (+7....
Underlying
China National Accord Medicines Corporation Ltd Class A

Shenzhen Accord Pharmaceutical is engaged in the research, development and production of pharmaceuticals; and wholesales and chain retails of Chinese and western patent medicine, Chinese traditional medicine, biological products, bio-chemical medicine, health care products and medical apparatus and instruments. Through its subsidiaries, Co. is also engaged in the manufacture of raw material for chemical medicine, processing of Chinese patent drugs and medical chemical raw materials; sale of antibiotic preparations, chemical reagent and Chinese medical crop; and provision of logistic and storage services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Johanna Jourdain

Matthias Desmarais

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