Accor (AC) AGM 2025 summary

Opening remarks and agenda

• The meeting was chaired by Sébastien Bazin, Chairman & CEO, with key executives present, and opened with a welcome to shareholders, a video review of the past year, and an outline of the agenda and legal formalities, including confirmation of quorum and the composition of the bureau.

• The agenda included a financial review, board updates, sustainability, and voting on resolutions.

Financial performance review

• FY24 revenue reached €5,606 million, up 11% from FY23, with recurring EBIT/EBITDA at €1,120 million, at the high end of guidance.

• FY24 RevPAR grew 5.7% year-on-year, exceeding guidance, and net unit growth was 3.5% with a record pipeline increase.

• Net profit group share for FY24 was €610 million; diluted EPS €2.33; pre-tax profit was €850 million, up 25%, but net result declined 4% due to higher income tax.

• Q1 2025 revenue grew 9.2% with continued strong RevPAR and pipeline acceleration.

• €686 million returned to shareholders in 2024; share price increased 17% year-on-year, outperforming the CAC 40.

Board and executive committee updates

• Board comprised 13 directors in 2024, with 64% independent and 55% women; post-AGM, board expands to 14 with 58% independent and women.

• Isabelle Simon appointed Lead Independent Director; Katherine E. Fleming elected as new independent director.

• Board met 12 times with 88% attendance; five specialized committees covered audit, compliance, strategy, ESG, and compensation.

• Key activities included asset contribution to Accor Luxury & Lifestyle SAS, sustainability process enhancements, and share repurchase for cancellation.