Registration Document 2013
Consolidated Financial Statements And Notes
S.4. Operating profit before tax and
Operating profit before tax and non-recurring items corresponds
to the results of operations of the Group’s businesses less the
related financing cost. Net financial expense and the share of profit
of associates after tax represent an integral part of consolidated
operating profit before tax and non-recurring items to the extent that
they contribute to the performance indicators used by the Group.
S.5. Restructuring costs
Restructuring costs correspond to all the costs incurred in connection
with restructuring operations.
S.6. Impairment losses
Impairment losses correspond to all the losses and provisions
recorded in accordance with IAS 36 “Impairment of Assets”
including impairments of investments in associates.
S.7. Gains and losses on management
of hotel properties
Gains and losses on management of hotel properties arise from
the disposals of hotel assets.
S.8. Gains and losses on management
of other assets
This item corresponds to gains and losses on management of
fixed assets other than hotels and movements in provisions, as
well as other gains and losses on non-recurring transactions. The
concerned transactions are not directly related to the management
of continuing operations.
S.9. Operating profit before tax
Operating profit before tax corresponds to operating profit after
income and expenses that are unusual in terms of their amount
and frequency that do not relate directly to the Group’s ordinary
S.10. Profit or loss from discontinued operations
A discontinued operation is a component of Accor that has been
disposed of or is classified as held for sale and:
represents a separate major line of business or geographical
area of operations;
is part of a single coordinated plan to dispose of a separate major
line of business or geographical area of operations or;
is a subsidiary acquired exclusively with a view to resale.
Profit or loss from discontinued operations corresponds to:
the profit or loss net of tax of the discontinued operations
carried out until the date of transfer or until the closing date if
the discontinued operation is not sold at this date;
the gain or loss net of tax recognized on the disposal of the
discontinued operations if the discontinued operation has been
sold before the closing date.
S.11. Cash flow statement
The cash flow statement is presented on the same basis as the
management reporting schedules used internally to manage the
business. It shows cash flows from operating, investing and
Cash flows from operating activities include:
funds from operations, before non-recurring items and after
adjustment for changes in deferred taxes and gains and losses
on disposals of assets;
cash received and paid on non-recurring transactions;
changes in working capital.
Cash flows from investing activities comprise:
renovation and maintenance expenditure to maintain in a good
state of repair operating assets held at January 1 of each year;
development expenditure, including the fixed assets and working
capital of newly consolidated subsidiaries and additions to fixed
assets of existing subsidiaries;
development expenditure on non-current assets classified as
held for sale;
proceeds from disposals of assets.
Cash flows from financing activities include:
changes in equity;
changes in debt;
T. Earnings per share
The methods used to calculate basic and diluted earnings per share
are in accordance with IAS 33 “Earnings Per Share”.
U. Other information
Current assets and liabilities are assets and liabilities that the Group
expects to recover or settle:
in the normal course of business; or
within twelve months of the period-end.
The consolidated financial statements for the year ended
December 31, 2013 have been prepared under the responsibility of
Accor’s Chairman and Chief Executive Officer.They were approved
by the Board of Directors of February 19, 2014.