Aéroport de Paris - 2018 Registration document
ORGANISATION CHART
BUSINESS OVERVIEW
PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT
STATUTORY AUDITORS
SELECTED FINANCIAL INFORMATION
RISK MANAGEMENT AND CONTROL
INFORMATION ON THE COMPANY
REAL ESTATE ASSETS AND FACILITIES
REVIEW OF THE FINANCIAL POSITION AND INCOME
EQUITY AND CASH FLOWS
The land portfolio dedicated to real estate activity Aéroports de Paris owns its entire land portfolio, which extends over 6,686 hectares, of which 4,624 hectares are reserved for aviation, 820 hectares are areas that cannot be exploited, and 1,242 hectares are dedicated to real estate activities.
The surface areas available for real estate break down as follows:
Aeronautical
Diversification
Total 1,242
(in hectares)
Surfaces dedicated to real estate
436
806 304
Land reserves
51
355 469
Land used for ADP buildings Land leased to third parties
208
261 241
177
418
The value of land reserves available for building (355 hectares) was €307 million at 31 December 2018. According to the Group's estimates: ◆ by 2025, development projects could concern around 450,000 m2 of surface areas available for building; ◆ almost 70% of the construction potential at end-2018 will still be available in 2025. These estimates for real estate developments by 2025 do not in any way constitute targets. They are insights into the Group's medium-term vision, which supplement the targets of the Connect 2020 plan, which remain unchanged.
Planned development projects are used for projects compatible with the urban planning rules in effect in the municipalities in question (SCOT, CDT, PLU, etc.) and must be included in the airport floor plan. Constructible land reserves make up 355 hectares and are directly available (62%) or consist of land subject to a number of constraints that limit their immediate use. These reserves are made up of land that is home to end-of-life activities and for which the land use may change in the short term (16%), land which has become expensive to development due to technical constraints or which is currently unattractive from the commercial point of view (10%) and land under constraint of aerial or radioelectric easements that limit its use (16%). Other constraints may encumber the use of this available land immediately or in the future: application of the biodiversity law, modification of aviation easements, changes in the Group’s master plan, etc. Constructible land reserves decreased by 56 hectares at end-2018 to 355 hectares compared to 411 hectares in 2017, mainly due to plots that used to be conserved for biodiversity (46 hectares) as well as floor area pre-emptions for aeronautical activities (9 hectares) . Potential constructible land at end-2018 is estimated to be some 1,543 million m 2 . Land leased to third parties was located at Paris-Charles de Gaulle, Paris- Orly and Paris-Le Bourget airports as well as at civil airfields. More than 50% of the land leased to third parties is linked to airport activities at Paris-Charles de Gaulle airport, 10% at Paris-Orly airport, and 50% at Paris-Le Bourget and general aviation airfields. In 2018, the assets dedicated to real estate activities were valued at €3,048 million, of which €2,624 million in investment buildings as detailed in Note 6.3.2 of the Group’s 1 consolidated accounts. This valuation includes nearly €423 million in buildings occupied by Groupe ADP for its own use, the assets held by its fully consolidated subsidiaries and assets restated according to IFRS standards under lease-financing contracts.
06
Activities 23%
Tertiary 31%
11%
Hotel
Cargo and aeronautical industrial offer 35%
Orly 164 758
CDG
LBG & AAG Total
%
Land reserves reminder (ha) Building potential (‘000 m2)
138
53
355
564 123 118 323
221
2
100%
Projects signed/under construction at the end of 2018 (built-up area)
32
25
180 276
12% 18% 70%
Projects identified up to end of 2025 1
158
-
Building potential remaining
568
196
1
1 Built-up areas.
1 See Chapter 20.
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AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018
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