Accor : Résultats S1 2020 inférieurs à nos attentes, mais liquidité toujours très solide et nouveau plan d’économies de coûts
>Résultats S1 2020 inférieurs, mais liquidité toujours très solide - Le CA est ressorti à 917 M€ au S1 2020 (-52% en publié), soit 14% en-dessous de nos attentes. Les RevPAR sont en recul de -59.3% au S1, inférieurs à nos attentes de -54%, suggérant un point bas au T2 à -88.2% (consensus -85%, ODDO BHF -83%) après -25% au T1, pénalisé par le confinement et les restrictions de voyage dans la plupart des pays. L’EBITDA ressort en perte de 227 M€ au S1, significativement...Accor is a hotel operator. Co. offers its guests and partners the expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest). Co. divides its activities into three segments: Luxury-upscale, Midscale and Economy. Luxury-upscale makes up 11% of Co.'s portfolio and comprises brands such as Sofitel, Pullman, MGallery, and Grand Mercure; Midscale makes up 43% of its portfolio and comprises the Novotel, Suite Novotel, Mercure and Adagio brands; and Economy makes up 46% the Co.'s portfolio, comprising the brands ibis, ibis Styles, ibis budget and hotelF1. At Dec 31 2013 Co. operated around 3,600 hotels and 460,000 rooms in 92 countries.
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.
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