Aéroport de Paris - 2018 Registration document

ORGANISATION CHART

EQUITY AND CASH FLOWS

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

REVIEW OF THE FINANCIAL POSITION AND INCOME

Cash flows from operating activities

2018 1,235 644 (44) 1,835

2017 1,052 460 (42) 1,470

(in millions of euros)

Operating income (including operating activities of associates)

Other non-cash income and expenses Net financial income other than cost of debt

Operating cash flow before change in working capital and tax

Change in working capital

(3)

113

Tax expenses

(281) 1,551

(313) 1,270

Cash flows from operating activities

Cash flow from investing activities

2018

2017

(in millions of euros)

Purchase of property, plant, equipment and intangible assets

(1,078) (630)

(879)

Acquisitions of subsidiaries

20

Proceeds from sale of subsidiaries

1

21

Dividends received

39 32

42

Other cash flows from investing activities Cash flows from investing activities

(92)

(1,636)

(888)

In 2018, cash flows in respect of financial investments, acquisitions of subsidiaries and equity investments amounted to €630 million and mainly reflected: ◆ the acquisition of an additional 41.5% of AIG’s shares for €157 million net of cash acquired; ◆ TAV Airports’ acquisition of 49% of its subsidiary TAV Antalya for €360 million.

2018 was marked by investments made in terms of tangible and intangible assets for €1,078 million for the Groupe ADP, of which €924 million were invested by the parent company (€801 million in 2017) and €142 million for its subsidiaries (€78 million in 2017).

Cash flow from financing activities

2018

2017

(in millions of euros)

Proceeds from long-term debt Repayment of long-term debt

1,064 (392) (342) (103)

561

(253) (261) (161) (114)

10

Dividends paid to shareholders of the parent company

Other cash flows from financing activities Cash flows from financing activities

227

increase in financial investments and acquisition of subsidiairies and participation, as described in Chapter 20 (Note 12.2.2.) Cash flow from financing activities stood at €227 million (vs -€114 million in 2017) resulting mainly from the cashing of €750 million linked to the bond emitted by Aéroports de Paris, of long-term bond redemption for €392 million, and of €342 million of dividend payment.

Cash was up by €145 million in 2018 compared to 2017 and thus stood at €2,055 million (vs €1,910 million in 2017). Cash flow from operating activities stood at €1,551 million, up by €281 million compared to 2017, resulting from an increase in operating income from ordinary activities (including operating income from ordinary activities of associates). Cash flow from investing activities increased strongly by €748 million compared to 2017, and stood at -€1,636 million, due mainly to a significant

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018