Accor : Consolidated Financial Statements as of June 30, 2022

Accor - Interim condensed consolidated financial statements and notes

June 30, 2022

INTERIM CONDENSED

CONSOLIDATED FINANCIAL

STATEMENTS AND NOTES

 Consolidated income statement	p. 2
 Consolidated statement of other comprehensive income	p. 3
 Consolidated statement of financial position	p. 4
 Consolidated statement of cash flows	p. 6
 Consolidated statement of changes in equity	p. 7
 Notes to the interim financial statements	p. 8

Unless stated otherwise, the amounts presented are in millions of euros, rounded to the nearest million. In general, the amounts presented in the consolidated financial statements and related notes are rounded to the nearest unit. This may result in a non-material difference between the sum of the rounded amounts and the reported total. All ratios and variances are calculated using the underlying amounts rather than the rounded amounts.

Accor - Interim condensed consolidated financial statements and notes

June 30, 2022

Consolidated income statement

		1st semester	1st semester
(€ in million)	Notes	2021	2022
Revenue	4	824	1,725
Operating expense	4	(944)	(1,520)
Recurring EBITDA	4	(120)	205
Depreciation and amortization		(118)	(107)
Recurring EBIT		(239)	99
Share of net profit/(loss) of equity-investments	5	(213)	(27)
EBIT including share of net profit/(loss) of equity investments		(451)	72
Other income and expenses	6	585	25
Operating (loss)/profit		134	97
Net financial expense	9	(53)	(32)
Income tax	10	3	(25)
(Loss)/profit from continuing operations		84	40
(Loss)/profit from discontinued operations	3	(14)	-
Net (loss)/profit of the period		69	40
• Group share		67	32
from continuing operations		81	32
from discontinued operations		(14)	-
• Minority interests		3	8
from continuing operations		3	8
from discontinued operations		-	-
Basic earnings per share (in euros)
Earnings per share from continuing operations		0.18	(0.01)
Earnings per share from discontinued operations		(0.05)	-
Basic earnings per share		0.12	(0.01)
Diluted earnings per share (in euros)
Diluted earnings per share from continuing operations		0.18	(0.01)
Diluted earnings per share from discontinued operations		(0.05)	-
Diluted earnings per share	11	0.12	(0.01)

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Accor - Interim condensed consolidated financial statements and notes

June 30, 2022

Consolidated statement of other comprehensive income

		1st semester	1st semester
(€ in million)	Notes	2021	2022
Net profit of the period		69	40
Currency translation adjustments	11	82	207
Effective portion of gains and losses on hedging instruments	11	7	53
Currency translation adjustments from discontinued operations	11	-	-
Items that may be reclassified subsequently to profit or loss		89	261
Changes in the fair value of non-consolidated investments	11	(45)	26
Actuarial gains and losses on defined benefit plans	11	3	6
Items that will not be reclassified to profit or loss		(42)	32
Other comprehensive income, net of tax		48	293
Total comprehensive income of the period		117	334
• Group share		113	310
• Minority interests		3	24

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Accor - Interim condensed consolidated financial statements and notes

June 30, 2022

Consolidated statement of financial position

Assets

(€ in million)	Notes	Dec. 2021 (*)	June 2022
Goodwill	7	2,053	2,130
Other intangible assets	7	3,112	3,203
Property, plant and equipment	7	230	235
Right-of-use assets	7	318	344
Equity-accounted investments	5	898	918
Other non-current financial assets	9	595	809
Non-current financial assets		1,494	1,726
Deferred tax assets		192	193
Non-current contract assets	4	289	307
Other non-current assets		3	3
Non-current assets		7,691	8,142
Inventories	4	9	11
Trade receivables	4	697	859
Other current assets	4	256	288
Current financial assets	9	45	32
Cash and cash equivalents	9	1,666	1,298
Assets classified as held for sale	3	406	417
Current assets		3,079	2,904
TOTAL ASSETS		10,769	11,046

1. Restated amounts following the provisional purchase price allocation of the Lifestyle business of Ennismore Holding Limited acquired in 2021.

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Accor - Interim condensed consolidated financial statements and notes

June 30, 2022

Equity and Liabilities

(€ in million)	Notes	Dec. 2021 (*)	June 2022
Share capital	11	786	789
Additional paid-in capital and reserves	11	2,412	2,756
Net profit of the year		85	32

Ordinary shareholders' equity		3,283	3,577
Perpetual subordinated bonds	11	1,000	1,000
Shareholders' equity - Group share		4,283	4,577
Minority interests	11	315	313
Shareholders' equity		4,597	4,890
Non-current financial debt	9	2,572	2,585
Non-current lease liabilities	9	263	291
Deferred tax liabilities		561	574
Non-current provisions	8	63	64
Pensions and other benefits		56	53
Non-current contract liabilities	4	23	32
Non-current liabilities		3,537	3,599
Current financial debt	9	630	389
Current lease liabilities	9	90	89
Current provisions	8	282	284
Trade payables	4	441	467
Other current liabilities	4	559	593
Current contract liabilities	4	159	221
Loyalty program liabilities	4	180	234
Liabilities classified as held for sale	3	294	279
Current liabilities		2,635	2,557
TOTAL EQUITY AND LIABILITIES		10,769	11,046

1. Restated amounts following the provisional purchase price allocation of the Lifestyle business of Ennismore Holding Limited acquired in 2021.

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