Aéroport de Paris - 2018 Registration document
ORGANISATION CHART
REVIEW OF THE FINANCIAL POSITION AND INCOME
PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT
STATUTORY AUDITORS
SELECTED FINANCIAL INFORMATION
RISK MANAGEMENT AND CONTROL
INFORMATION ON THE COMPANY
BUSINESS OVERVIEW
REAL ESTATE ASSETS AND FACILITIES
EQUITY AND CASH FLOWS
Traffic in Paris Aéroport Paris Aéroport handled a total of 105.3 million passengers in 2018, an increase of 3.8% compared to the previous year. Paris-Charles de Gaulle Airport welcomed 72.2 million passengers (+4.0%) and Paris-Orly Airport 33.1 million (+3.4%). Excluding the impact of the first semester strikes, the increase in traffic for Paris Aéroport would have been +4.5%. Traffic increased by 3.0% over the 1 st half of the year and by 4.5% over the 2 nd half: ◆ international traffic (excluding Europe) was up (+6.0%), with a growth in the following destinations: North America (+8.7%), the French
Overseas Territories (+8.6%), the Middle East (+5.8%), Asia-Pacific (+5.8%), Africa (+4.2%) and Latin America (+1.2%); ◆ european traffic (excluding France) was up (+3.8%); ◆ traffic within France was down (-1.7%).
2018/2017 change
Geographic split Paris Aéroport
Share of total traffic
France Europe
-1.7%
15.4% 43.8% 40.8% 11.4% 10.4% 3.0% 5.2% 6.5% 4.3% 100.0%
+3.8% +6.0%
Other International
Of which Africa
+4.2% +8.7% +1.2% +5.8% +5.8% +8.6% +3.8%
North America Latin America
Middle East Asia-Pacific
French Overseas Territories TOTAL PARIS AÉROPORT
The number of connecting passengers has reduced by 2.5%. The connecting rate stood at 21.7%, down by 1.4 points. The load factor was up by 1.7 points, at 85.6%. The number of air traffic movements (709,997) was up by 0.8%. Freight and postal activity decreased by 1.9%, with 2,251,729 tonnes transported. Revision of 2018 forecasts On 30 July 2018, during the 2018 half year financial results announcement, Aéroports de Paris revised some of its forecasts for 2018 which are detailed below:
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2018 forecasts as published on 22 February 2018
2018 forecasts as revised on 30 July 2018
Traffic growth assumption for Paris Aéroport between +2.5% and +3.5% in 2018 compared to 2017 – unchanged Revision of TAV Airports 1 traffic growth assumption in 2018: growth above 30% compared to 2017 (vs. between +10% and +12% previously) Revision of consolidated EBITDA 2 forecast: increase between +17% and +22% in 2018 (vs. between +10% and +15%) compared to 2017, with the full-year effect of the full consolidation of TAV Airports and the effect of the full consolidation of AIG since April 2018: 2018 consolidated EBITDA excluding the full consolidation of TAV Airports and AIG: increase of between +2.5% and +3.5% in 2018 compared to 2017 – unchanged; revision of TAV Airports EBITDA 2/3 forecast: increase of between +14% and +16% in 2018 compared to 2017 (vs. between +5% and +7% previously).
Traffic growth assumption
Traffic growth assumption for Paris Aéroport between +2.5% and +3.5% in 2018 compared to 2017 Traffic growth assumption for TAV Airports between +10% and +12% in 2018 compared to 2017 Increase of between 10% and 15% in 2018 compared to 2017, with the full-year effect of the full consolidation of TAV Airports and excluding the effects of any change in scope that may occur in 2018: 2018 consolidated EBITDA excluding the full consolidation of TAV Airports: increase of between 2.5% and 3.5% in 2018 compared to 2017; reminder of the TAV Airports EBITDA3’s guidance: increase of between 5% and 7% in 2018 compared to 2017.
Consolidated EBITDA
Dividend for 2018
Maintained pay-out of 60% of NRAG 2018
Maintained pay-out of 60% of NRAG 2018
1 TAV Airports has taken a stake in Antalya Airport since May 2018. Here-above traffic growth assumption takes into account the traffic of this airport from May 2018 only. 2 TAV Airports’ EBITDA guidance, underlying Group’s EBITDA guidance, is built on the assumption that Istanbul Ataturk airport will operate for the full year in 2018 and on the following exchange rate assumptions: EUR/TRY = 5.21 et EUR/USD = 1.20. 3 EBITDA as published by TAV Airports includes Ankara guaranteed passenger revenue and the share of equity pick-up, of which the share of result of Antalya airport following the acquisition in May 2018 of a 49%-stake.
The achievement of these forecasts are subject to the assumption of traffic growth in Paris Aéroport and the good run of TAV Airports’ strategy
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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018
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