Aéroport de Paris - 2018 Registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2018

RESEARCH AND DEVELOPMENT, TRADEMARKS PATENTS AND LICENCES

INFORMATION CONCERNING TRENDS

PROFIT FORECASTS

ADMINISTRATION AND EXECUTIVE MANAGEMENT BODIES

COMPENSATION AND BENEFITS OF CORPORATE OFFICERS

FUNCTIONING OF THE BOARD OF DIRECTORS AND MANAGEMENT BODIES

SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY INFORMATION

MAIN SHAREHOLDERS

OPERATIONS WITH RELATED PARTIES

6.3.3 Additional information The law promulgated on 20 April 2005 provides that, in the event of a partial or total closure of one of the aerodromes operated by Groupe ADP, a percentage of at least 70% of the difference existing between, firstly, the market value at that date of the buildings situated within the enclosure of that aerodrome that are no longer used for the airport public service and secondly, the value of those buildings on the date on which they were allocated to the airport plus the associated costs. Their rehabilitation and the closure of airport facilities is paid to the State. In addition, rental income (excluding rebilled charges) amounts to €191 million in 2018 (€184 million in 2017).

VALUATION HYPOTHESES AND SENSITIVITY ANALYSES Considering the limited available public data, the complexity of the real estate assets and the fact that real estate experts use for their valuation (i) the Group’s confidential rent reports, (ii) non-observable published data e.g. rent increase rates forecasts or capitalization rates; the Group considered the classification under level 3 of these assets to be best suited (see Note 9.5.2 regarding fair value hierarchy). All things being equal, a combined +25 to +75 basis points change in discount rates and resale, applicated on a sample representing 74% of the value of investment properties (excluding land reserves) would decrease by €72 million (-4%) to €156 million (or -9%) the value of assets excluding transfer taxes and expenses (excluding development assets and land reserves or assets accounted for by the equity method). Intangible assets, property, plant and equipment and investment properties are tested for impairment when the Group identifies indices of impairment. For intangible assets with an indefinite useful life, a test is performed at least once a year and whenever an indication of impairment appears. For land that is assumed non-depreciable, it is tested for impairment if there is an indication of impairment. Intangible assets, property, plant and equipment and investment properties are tested at the level of the relevant asset group (isolated asset or Cash Generating Unit – CGU) determined in accordance with the requirements of IAS 36. In the case where the recoverable amount is less than net book value, an impairment loss is recognized for the difference between these two amounts. The recognition of an impairment loss results in a review of the base and the schedule of amortization/depreciation of the assets concerned.

6.4 Impairment of intangible, tangible and investment properties

In accordance with IAS 36, the criteria used to assess impairment indicators may include underperformance, a decrease in traffic, a significant change in market data or the regulatory environment, or obsolescence or material deterioration not initially foreseen in the amortization/depreciation plan. Impairment losses on property, plant and equipment or intangible assets may be reversed later if the recoverable amount becomes higher than the net book value. The value of the asset after reversal of the impairment loss is capped at the carrying amount that would have been determined net of amortization if no impairment loss had been recognized in prior years. The Group did not recognize any significant impairment losses on its intangible assets (see Note 6.1), tangible assets (see Note 6.2) and property, plant and equipment (see Note 6.3).

NOTE 7 EQUITY AND EARNINGS PER SHARE

7.1 Equity Equity breaks down as follows:

20

Non- controlling interests

Group share 4,850

Share capital

Share premium

Treasury shares

Retained earnings

Other equity items

Total 5,801

(in millions of euros)

As at 31 Dec., 2018

297

543

-

4,096

(86)

951

7.1.1 Share capital Aéroports de Paris SA’ aggregate share capital amounts to €296,881,806 divided into 98,960,602 fully paid shares of €3 each, which were not subject to any change during the year 2018. The share capital is accompanied by a share premium of €542,747 thousand pertaining to the issuance of shares in 2006.

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018