2013 Registration document and annual financial report - page 214

Registration Document 2013
212
Financial Statemements
5
Consolidated Financial Statements And Notes
NOTE
4 OPERATING EXPENSE
(in millions of euros)
2012
2013
Cost of goods sold
(1)
(388)
(406)
Employee benefits expense
(2)
(2,081)
(1,994)
Energy, maintenance and repairs
(303)
(294)
Taxes, insurance and service charges (co-owned properties)
(203)
(195)
Other operating expense
(3)
(886)
(888)
TOTAL OPERATING EXPENSE
(3,861)
(3,777)
(1) The cost of goods sold includes food and beverage purchases, laundry costs and the cost of telephone calls billed to clients.
(2) The Ratio employee benefits expense/Full-time equivalent (FTE) is presented as follows:
Full-time equivalent
2012
2013
Full-time equivalent*
52,062
49,119
Ratio employee benefits expense/FTE
(€k)
(40)
(40)
* Full-time equivalent employees are based on the ratio between the number of hours worked during the period and the total working legal hours for the period. For firms
which are consolidated using the proportional method, the employee number is calculated with the Group’s interest.There is no employee number for associates.
At December 31, 2013, employee benefits expense includes €10.8 million related to stock option plans and performance share plans (see note 25).
(3) Other operating expense consists mainly of marketing, advertising, promotional, selling and information systems costs.The total also includes various fee payments.
NOTE
5 EBITDAR BY BUSINESS AND REGION
(in millions of euros)
France
Europe
(excl. France)
Asia
Pacific
Latin America &
Caribbean
Other
Countries
Worldwide
Structures
(1)
2013
2012
HOTELS
541
804 152
145
52
22 1,716 1,774
Upscale and Midscale Hotels
304
453
98
58
32
19
964 1,017
Economy Hotels
237
351
54
87
20
3
752
757
OTHER BUSINESSES
7
1
14
-
3
18
43
14
TOTAL 2013
548
805
166
145
55
40
1,759
TOTAL 2012
577
797
195
136
48
35
1,788
(1) “Worldwide Structures” corresponds to revenue (royalties) and costs that are not specific to a single geographic region.
Consolidated EBITDAR for 2013 totalled €1,759 million compared with €1,788 million for 2012.
The period-on-period decrease of €29 million (or -1.7%) breaks down as follows:
ƒƒ
Like-for-like growth
+47 m€
+2.6%
ƒƒ
Business expansion (owned and leased hotels only)
+36 m€
+2.0%
ƒƒ
Currency effects
(43) m€
(2.4)%
ƒƒ
Disposals
(69) m€
(3.8)%
DECREASE IN 2013 EBITDAR
(29) m€
(1.7)%
1...,204,205,206,207,208,209,210,211,212,213 215,216,217,218,219,220,221,222,223,224,...344
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