Aéroport de Paris - 2018 Registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 20 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2018

Revenue and net income of Groupe ADP break down as follows:

Revenue

EBITDA

of which inter-sector revenue

of which inter-sector revenue

2018 603 580

2018 1,890 1,000

2017 551 533 209 252 280

2017 1,813 953 250 682

(in millions of euros)

Aviation

1

1

Retail and services

142

146

Real estate

265 1,412 1,166

48

42

148 585 548

International and airport developments

14

16

Including TAV 1 Including AIG Other activities

- -

616

- -

175 156

-

54 46 (1)

-

40

217

93

24

Eliminations and internal results

(245) 4,478

(245)

(298) 3,617

(298)

(2)

TOTAL

-

-

1,961

1,567

Share of profit or loss in associates and joint ventures from operating activities

Operating income from ordinary activities

Amortisation & Depreciation

2018 (295) (124)

2018

2018

2017

2017

2017 272 404

(in millions of euros)

Aviation

(279) (131) (46) (143) (143)

-

-

307 458

Retail and services

2 2

3

Real estate

(49)

(2)

101

161

International and airport developments

(323) (277)

76 49 23

77 74

339 320

186

211

Including TAV 1 Including AIG Other activities

(43) (13)

-

- - -

33 33 (1)

-

(16)

- -

9

Eliminations and internal results

-

-

(2)

TOTAL

(804)

(615)

80

78

1,237

1,030

1 As at 31 December 2018, TAV Istanbul, which operates Istanbul Atatürk airport and which activity is expected to be transferred in 2019 (see Note 6.1), contributed €471 million to the consolidated revenue, €263 million to the consolidated EBITDA, with a loss of €166m to the consolidated amortisation & depreciation, and €97 to the consolidated operating income from ordinary activities.

Consolidated revenue of the Group increased by €4,478 million in 2018 up to €861 million, mainly due to: ◆ the global integration of TAV Airports since the second half of 2017 which contributes up to €1,166 million in revenue and Airport International Group (AIG) in Avril 2018 which contributes turnover up to €175 million. Excluding the global integration of these two entities, the Groupe ADP’s revenues grew by 4.6% to €3,137 million; ◆ the growth in airport fees revenue at Paris Airports (+5.6%, at €1,115 million), driven by passengers traffic dynamics 1 (+3.8%) and the increase prices as of 1 April 2018 (+2.13%) despite the strikes of the first half of 2018. ◆ the growth in the retail and services sector, of 4.9% to €1,000 million, driven notably by the performances of commercial activities (+6.8%, to €490 million);

◆ the increase in real estate sector of 6% to €265 million, mainly due to the positive effect of the acquisition of the entire “Dôme” building in Paris-Charles de Gaulle in December 2017. The segment of other activities and the inter-sector eliminations were impacted by the disposal of 80% of Hub Safe share capital, which resulted in a change of consolidation method of the company results as from the 4 th quarter of 2017. Hub Safe results are now accounted for in share of profit or loss in associates and joint-ventures from non-operating activities. In 2018, the net loss in revenue related to the share of Hub Safe revenue outside Group amounts to 8€ million compared to 2017. The amount of the inter-sector elimination amounts to €245 million in 2018, with a decrease of 18%, due to the change of consolidation method of Hub Safe, whose activity was mainly performed within the Group.

1 Groupe ADP traffic: +7.6% up to 281.3 million passengers. Paris Airport traffic: +3.8% up to 105.4 million passengers.

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018