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  1. Abstract.
  2. Executive summary.
  3. Introduction / background.
  4. The management of the company.
  5. Financial analysis.
  6. Recommendations and estimates.
  7. Conclusion.

For more than 40 years, Accor has constantly reinvented its businesses to keep pace with the world around it, with the goal of providing innovative, high-quality products to Hospitality and Services customers. In Hospitality, Accor's ambition is to be the world leader in economy and midscale hotels and a major player in the upscale segment, with a portfolio of powerful, easy-to-identify brands. These brands are now federated under the Accor Hospitality banner. Accor Services designs, develops and manages innovative solutions that improve the performance of corporate and public institution customers thanks to easy-to-use products that cover a growing range of needs. Accor services is the world's leading issuer of service vouchers. In this report, we will first make an executive summary with the key points and the key figures of the company Accor. Then we will make a brief presentation of the company and of the 2006 annual report. We will also talk about the management of the group Accor, that is to say the way the company is lead, its strategy and all the ensuing risks and problems.

[...] He announces that Accor obtained remarkable results in 2006 and that demonstrates the group's considerable potential. Next we have another message of Gilles Pélisson, the Chief Executive Officer. He presents a positive situation for Accor now and in the future. We can see two photos of Serge Weinberg and Gilles Pélisson. They seem to be implicated in their speech and they really want to succeed! Following these letters, there is the presentation of the board of directors, with some photos in colour. [...]

[...] A profit margin of 10% means that for each dollar of sales that the company Accor generates it is contributing 10 cents to its bottom line (net income). - Return on assets = ROA = NI/TA = The return on assets describes the efficiency with which the company uses its assets. - Return on equity = ROE = NI/TE = The return to equity describes how much the shareholders of the company earn on their investment in the business. - Return on capital employed (ROCE), corresponding to EBITDA expressed as a percentage of fixed assets at cost plus working capital, rose to from in 2005. [...]

[...] As a result, earnings per share rose to 2.23 from 1.55 in 2005 increase), based on the weighted average 224,737,749 shares outstanding in 2006. Analysis of the balance sheet Ratios: All of the main financial ratios improved significantly, reflecting the solidity of Accor's balance sheet at December ( Short term solvency: - Current ratio (CR). The current ratio describes the amount of current assets per one dollar of current liabilities, in other words, the working capital of the company. CR = current assets / current liabilities = CA/CL = 0.7 A ratio under 1 suggests that the company would be unable to pay off its obligations (suppliers and other debtors) if they came due at that point. [...]

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