Aéroport de Paris - 2018 Registration document

BUSINESS OVERVIEW 06

DESCRIPTION OF ACTIVITIES BY SEGMENT

After an investment plan of around €0.5 billion over the 2016-2020 period, Groupe ADP could once again invest around €0.5 billion on the Parisian platforms for safety/security (around €900 million in total over the 2019 to 2025 period), with notably the deployment of Standard 3 EDS detection equipment which should be completed by the end of 2022. These forecasts communicated by the Group at the beginning of April 2019 during the Investors' Day are not targets, but constitute a preliminary medium-term vision that supplements the targets in the Connect 2020 plan, which are unchanged in terms of safety/security.

After an investment plan of around €0.5 billion over the 2016-2020 period, Groupe ADP could once again invest around €0.5 billion on the Parisian platforms for safety/security (around €900 million in total over the 2019 to 2025 period), with notably the deployment of Standard 3 EDS detection equipment which should be completed by the end of 2022. These forecasts communicated by the Group at the beginning of April 2019 during the Investors' Day are not targets, but constitute a preliminary medium-term vision that supplements the targets in the Connect 2020 plan, which are unchanged in terms of safety/security. Based on security costs for Aéroports de Paris SA of between €500 million and €600 million per year over the coming years, the impact of these user fees on the company's operating income amounts to around €30 million to €35 million per year. Retail and services This segment includes all of Groupe ADP’s retail activities (notably shops, bars and restaurants, car parks, rentals within terminals), as well as advertising activities (Média Aéroports de Paris 1 and the activities of commercial distribution joint ventures within airports (Société de Distribution Aéroportuaire and Relay@ADP) and restaurant services (EPIGO). Income from these is recognised using the equity method. From the second quarter of 2019, as part of the reinforced governance of commercial joint ventures, these two joint ventures (Société de Distribution Aéroportuaire SDA and Relay@ADP) will be fully consolidated in the Group’s financial statements.

General description of retail activities Aéroports de Paris’ retail activities designate paying services intended for the general public: passengers, accompanying persons and staff working at the airports. These include, for example, shops, bars and restaurants, banks and foreign exchange counters, car rental, advertising and, more generally, any other paid-for service (internet, service stations, etc.). Retail activities are at the heart of Groupe ADP’s growth dynamic and thus contribute to the financial performance and appeal of its airports. Aéroports de Paris acts as lessor, developer, promoter and manager for commercial activities through its joint ventures, Société de Distribution Aéroportuaire, Relay@ADP and EPIGO.

2018 1,000

2017

2018/2017

(in millions of euros)

Revenue EBITDA

953 533

+4.9% +8.9% -9.6%

580

Share in associates and joint ventures from operating activities

2

3

Operating income from ordinary activities (including operating activities of associates)

458

404

+13.3%

Breakdown of revenue

2018

2017 953 459

2018/2017

(in millions of euros)

Revenue

1,000

+4.9% +6.8% +1.1% -3.7% +1.7% +37.5%

Retail activities

490

Car parks and access roads Industrial services revenue

173 129 149

171

134 147

Rental income Other income

58

42

Rental income from retail activities

2018 490

2017 459 303

2018/2017

(in millions of euros) Retail (rents) Airside shops Landside shops Bars and restaurants

+6.8% +4.8% +9.0% +13.4% +10.0% +3.1% +9.9% +21.0%

318

20 48 55 20

19

42 50

Advertising

Cash and foreign exchange

19 14

Car rental

16 14

Other

11

1 Média Aéroports de Paris manages advertising in the terminals and has been fully consolidated since 2016.

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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018