Trasporti
Aéroports de Paris SA: Consolidated revenue over the first 9 months of 2018 driven by growth in traffic
FINANCIAL RELEASE
29 October 2018
Aéroports de Paris SA
The effect of the application of the norm IFRS 15, modifying the principles for revenue recognition, had no significant impact on the financial statements (impact below €1 million).
Over the first 9 months of 2018, Aviation segment revenue was up by 3.6%, at €1,422 million.
Revenue from (passenger fees, landing fees and aircraft parking fees) was up by 5.2%, at €842 million, benefiting from the growth in passenger traffic (+3.4%) and the increase in tariffs as of 1 April 2018. As a reminder, tariffs (excluding PRM fees) had increased by 2.125% as of 1 April 2018.
were up by 3.2 %, at €180 million, due to the positive effect of the traffic dynamics on revenue from check-in counters (+6.5%, at €68 million) and from PRM fees (+4.1%, at €47 million).
was up by 1.4 %, at €374 million.
which mostly consists in re-invoicing the French Air Navigation Services Division and leasing associated with the use of terminals and other works services made for third parties, decreased by 8.2%, at €27 million.
Over the first 9 months of 2018, revenue from Retail and services up by 5.1%, at €742 million.
Revenue from (rents received from airside and landside shops, bars and restaurants, banking and foreign exchange activities, and car rental companies, as well as revenue from advertising) was up by 4.9%, at €359 million.
Média Aéroports de Paris' revenue was stable, at €40 million (+0.2%).
Revenue from was up by 1.2%, at €131 million.
Revenue from (supply of electricity and water) was also up, by 4.3%, at €101 million.
(leasing of spaces within terminals) was up by 1.9%, at €112 million.
(primarily constituted of internal services), increased by 41.1%, at €38 million, notably thanks to an increase of €7 million of the revenue linked to the re-invocing of studies and works for the project .
Over the first 9 months of 2018, revenue from Real estate segment was up by 5.2%, at €198 million.
was up by 3.6%, at €163 million, notably thanks to the full acquisition of the "Dôme" building, in Paris-Charles de Gaulle, that had a positive effect on rents amounting to €3 million.
Please note that the impact of the application of the norm IFRS 15 on the revenue from International and airport development segment was considered as not significant (below €1 million).
Over the first 9 months of 2018, revenue from International and airport developments stood at €1,064 million due to the full consolidation of TAV Airports' results since July 2017 and the full consolidation of AIG's results since April 2018 .
Excluding the full consolidation of TAV Airports and AIG's results, revenue would have been up by 8.6%.
revenue was up by 8.2%, at €38 million. As of 30 September 2018, ADP Ingénierie's backlog stood at €68 million.
saw its revenue increase by €126 million, at €134 million, out of which €125 million due to the full consolidation of AIG since April 2018. Excluding the full consolidation of AIG, revenue was up by 10.7%.
Over the first 9 months of 2018, the contribution of TAV Airports in Groupe ADP's revenue stood at €893 million, vs. €342 million as of 30 September 2017 due to the full-year effect of the full consolidation in 2018. TAV Airports' revenue had been driven by the growth in traffic (+35.7% since the beginning of the year ), notably linked to the dynamism of international tourism in Turkey. The official inauguration ceremony of Istanbul's new airport is scheduled for today, 29 October 2018. There is no effective transfer of activities from Ataturk airport to this new airport at this date. TAV Airports and Groupe ADP's forecasts rely on the assumption of no transfer by the end of the year.
Over the first 9 months of 2018, other activities segment revenue decreased by 36.4%, at €113 million. As a reminder, since 29 September 2017, date of the sale of 80%-stake in Hub Safe, Hub Safe has been accounted for as non-operational associates (formerly, the participation was fully consolidated). From this date, the share in profit has been accounted for as share in associates from non-operating activities.
saw its revenue decreasing by 1.5%, at €112 million, due to a decrease of activities in Mobility division.
Over the first 9 months of 2018, Paris Aéroport traffic grew by 3.4% compared to the same period last year, with a total of 80.0 million passengers welcomed. 54.7 million passengers travelled through Paris-Charles de Gaulle (+3.6%) and 25.2 million through Paris-Orly (+3.1%).
The number of connecting passengers decreased by 3.4%. The connecting rate stood at 21.3%, down by 1.5 point compared to the first 9 months of 2017.
The aircraft load factor was up by 2.1 points, at 86.2%.
The number of air traffic movements (534,765) was virtually stable (-0.1%).
On 4 October 2018, Aéroports de Paris launched a 20-year bond issue for a total amount of €500 million with the following characteristics:
Aéroports de Paris is rated A+ (stable outlook) by Standard and Poor's.
Aéroports de Paris launched, on 4 October 2018, a bond issue of a total amount of €500 million, with a coupon of 2.125%, issued on 11 October 2018 and to be reimbursed on 11 October 2038.
The prospectus, dated 9 October 2018, received the visa n° 18-840 of the French financial markets authority (Autorité des Marchés Financiers - AMF).
Copies of the prospectus and the documents incorporated by reference (i) may be obtained free of charge at the Company's registered office, 1 rue de France, 93290 Tremblay-en-France - France - and will be available for consultation on the websites of the Issuer (www.groupeadp.fr) and AMF's websites (www.amf-france.org ) .
A conference call and a live audiocast will be held today, at 8:30 am (Paris time). The presentation is available on our website: finance.groupeadp.fr .
Audrey Arnoux: + 33 1 74 25 70 64 - invest@adp.fr
Lola Bourget: + 33 1 74 25 23 23
finance.groupeadp.fr
Groupe ADP develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2017, the group handled through its brand Paris Aéroport more than 101 million passengers and 2.3 million metric tonnes of freight and mail at Paris-Charles de Gaulle and Paris-Orly, and more than 127 million passengers in airports abroad through its subsidiary ADP International. Boasting an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services; the group also intends to develop its retail and real estate businesses. In 2017, group revenue stood at €3,617 million and net income at €571 million.
Registered office: 1, rue de France, 93 290 Tremblay-en-France. Aéroports de Paris is a public limited company (Société Anonyme) with share capital of €296,881,806. Registered in the Bobigny Trade and Company Register under no. 552 016 628.
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