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
2 Hotels: €184 million in CAPEX and €16 million in additional annual rent By 2025, the Group wants to maintain a systematic positioning as investor for hotel projects. By 2025, ADP's ambition is to be the owner of more than 1,580 rooms, or 24% of the hotel offering serving its Parisian airports; 3. Business parks: €64 million in CAPEX and €11 million in additional annual rent By 2025, the Group should be faced with a structural need for business surface areas directly related to the development of the support functions due to the increase in air traffic. Thus, between 2019 and 2025, the expected increase amounts to 60,000 m2, systematically in "ADP Investor" mode; 4. Offices: €292 million in CAPEX and €21 million in additional annual rent The Group's tertiary offering should mainly develop at Orly by 2025, notably thanks to the certain arrival of line 14. Other projects are also expected, such as the programming of a 70,000 m2 tertiary campus to the North of Orly by 2024, adjacent to a Grand Paris Express station; 5 Industrial aeronautical offering: €11 million in CAPEX and €2 million in additional annual rent By 2025, the Group should be faced with stagnating demand for hangars, offset nevertheless by the momentum in engine and equipment maintenance. These outlooks by 2025 do not constitute new forecasts and targets. They are the Group's preliminary medium-term vision in terms of real estate, which supplements the unchanged targets of the Connect 2020 plan.
land that are higher than the previous land rents. By 2045, the estimated rental upside is around €54 million for expected investments of some €192 million. Aéroports de Paris has set a target of 10-15% growth in external rent over the 2014-2020 period, made possible by new developments, particularly as investor, the takover of ownership of assets as leases expire and the renegotiation of existing contracts. In parallel, refurbishing existing holdings will cost €160 million and 100,000 sq.m. of obsolete buildings will be demolished. The planned investments will be to the tune of a total of €600 million, of which €300 million (including subsidiaries and debts) as investor, €185 million for maintenance, servicing of assets and asset management policy, and €100 million as developer. Perspectives On 4 April 2019, before an Investors' Day, Groupe ADP published insights into its real estate ambitions by 2025 and beyond. For this horizon, the Group estimates that it may invest around €735 million for the creation or recovery of assets that could generate around €74 million/year in additional rent according to the Group's estimates: 1 Cargo: €185 million in CAPEX and €24 million in additional annual rent Between 2018 and 2025, the Group is considering increasing the surface areas dedicated to the Cargo activity by 100,000 m2 (+15% of the total) systematically in "ADP investor" mode, with the exception of the extension to the FedEx hub In addition, over the 2010-2025 period, a +51% increase in rent is expected, significantly higher than the surface areas created (+28%), notably thanks to this new "ADP Investor" positioning;
06
Breakdown of real estate projects as at 31 December 2018
Floorspace (in m 2 )
Airport
Segment
ADP Role Developer
Operator
Project Opening
CDG CDG CDG ORY CDG CDG CDG ORY ORY ORY ORY CDG CDG CDG ORY CDG CDG CDG CDG
Diversification Aeronautical Aeronautical Diversification Aeronautical Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification Diversification
Sogafro/SDV
Offices and warehouses
2016 37,500
Investor
Aerolima Equipment maintenance centre (tranche 1)
2016
4,300
Developer Developer
Aérostructure
Maintenance 2016 19,000
Accor
Hotels
2016 2017 2017
7,700 1,300 17,100 1,000 17,800 10,800 7,100 3,700 19,500 4,600
Investor
TCR Equipment maintenance centre (tranche 2)
Investor Registered office
Offices
Investor
Divers Vailog
Warehouse 2017 Courier service 2017 Warehouse 2017
Developer Developer Developer Developer
Groupe Auchan
Accor
Hotels
2017
RSF
Employee residence 2017
Investor
Divers
Dôme properties
2017
Developer Developer
Audi
Showroom 2018
Holiday Inn
Hotels
2018 10,000 2018 22,000 2018 12,900
Investor Investor
Roméo
Offices and warehouses
Baïkal
Offices
Developer Developer
Aélia
Warehouse 2018 Concession 2018
6,000 2,200
VW
Investor
Divers
Offices
2018
700
TOTAL PROJECTS COMMISSIONNED AT THE END OF DECEMBER 2018
205,200
83
AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018
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