Synergies between the two companies
Synergies between the two companies
Synergies between the two companies
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�Revenues of €1,676m:<br />
up 5.6% as published<br />
�At constant scope of consolidation<br />
and exchange rates: up 3.8%<br />
� Hotels: up 2.1%<br />
� Services: up 11.8%<br />
� O<strong>the</strong>r businesses: up 6.6%<br />
First-quarter 2005 revenues up 5.6%,<br />
confirming a good overall trend<br />
4.3%<br />
Q1 04<br />
Like-for-like change<br />
6.1%<br />
Q2 04<br />
2.9%<br />
Q3 04<br />
Excl. impact of Easter<br />
vacation calendar and 29<br />
days in February<br />
5.1%<br />
Q4 04<br />
5.4%<br />
3.8%<br />
Q1 05<br />
29
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