Filing Flows › Intercontinental Hotels Group (IHG) › H1 2025
Intercontinental Hotels Group (IHG) H1 2025 earnings results (H1 2025)
6-K filed Aug 7, 2025
Intercontinental Hotels Group (IHG) reported revenue of $2.5B for the H1 2025 (H1 2025), +8% from a year earlier. Operating margin was 24.7%, net earnings $469M (18.6% of revenue).
Intercontinental Hotels Group, H1 2025: revenue $2.5B (+8% year over year), operating margin 24.7%, net earnings $469M, operating cash flow $312M. The chart follows the revenue to costs, profit and cash.
| H1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | — | +8% |
| Operating profit | $623M | — | +19% |
| Net earnings | $469M | — | +35% |
| Operating cash flow | $312M | — | +93% |
| Free cash flow | $301M | — | +103% |
What changed
Revenue was $2.5B in H1 2025, up 8% year over year. System Fund and reimbursable revenues was the largest line at 53% of revenue. System Fund and reimbursable revenues added $0.13B year over year (up 11%), 66% of the total change. Greater China declined 1%.
Operating profit was $0.62B, a 24.7% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 50% reached operating profit, above the 23% margin then. Total costs grew 6% against revenue growth of 8%. Net earnings were $0.47B, up 35% year over year. The effective tax rate was 25.9%.
Operating cash flow was $0.31B (up 93% year over year), 67% of net earnings. Working capital and other items used $0.16B. Capital expenditures of $0.01B left free cash flow of $0.30B.
Questions
What was Intercontinental Hotels Group's revenue in the H1 2025?
Intercontinental Hotels Group (IHG) reported revenue of $2.5B for the H1 2025 (H1 2025), +8% from a year earlier.
Was Intercontinental Hotels Group profitable in the H1 2025?
Operating profit was $623M (24.7% of revenue) and net earnings $469M.