Aeroports de Paris · EURONEXT:ADP

Aeroports de Paris — Groupe ADP — H1 2019 Earnings Presentation

35 slides from Aeroports de Paris's earnings presentation, Jul 25, 2019

  1. Slide 1: 2019 Half-Year Results

    2019 HALF-YEAR RESULTS 25 July 2019 GROUPE ADP Groupe ADP – 2019 half-year results | 0

  2. Slide 2: Agenda

    AGENDA 2019 FIRST HALF-YEAR HIGHLIGHTS  Augustin de Romanet. Chairman and CEO 2019 FIRST HALF-YEAR RESULTS  Philippe Pascal. CFO OUTLOOK & CONCLUSION  Augustin de Romanet. Chairman and CEO Groupe ADP – 2019 half-year results | 1

  3. Slide 3: 2019 First Half-Year Highlights

    01 2019 FIRST HALF-YEAR HIGHLIGHTS Augustin de Romanet Chairman and CEO

  4. Slide 4: 2019 First Half-Year Highlights

    2019 FIRST HALF-YEAR HIGHLIGHTS Excluding Atatürk closure, increase of the group traffic of +3.1% of which +4.8% in Paris Decrease of the group traffic (-10.3%) linked to the Istanbul Atatürk airport closure as of 6 April Commissioning of the Orly junction building and new toponymy of the single ter

  5. Slide 5: Good Performance of the Company in All Indicators

    GOOD PERFORMANCE OF THE COMPANY IN ALL INDICATORS / REVENUE / EBITDA +17.0% Contribution of AIG(2) +10.9% Contribution of M€ 2,185 116 AIG(2) 1,867 TAV Airports (3) 764 53 337 689 35 313 15 115 TAV Airports (3) +15.3%(1) 102 +7.5%(1) 1 732 1 502 571 614 EBITDA/Revenue(4) % 38.0% 35.5% H1 2018 H1 201

  6. Slide 6: Closure of Istanbul Atatürk Airport on the 6 of April

    CLOSURE OF ISTANBUL ATATÜRK AIRPORT ON THE 6 OF APRIL  Definitive transfer of commercial flights to the new Istanbul Airport happened on 6 April and relocation of TAV Airports headquarters  12,000 employees of TAV were deployed on the new Istanbul airport  DHMI recently reaffirmed its intention t

  7. Slide 7: Commissioning of Orly-3 Junction Building in Paris-Orly

    COMMISSIONING OF ORLY-3 JUNCTION BUILDING IN PARIS-ORLY  A new infrastructure of 80,000 square meters that could welcome 8 million passengers i.e. 3.5 million additional passengers per year  Total investment of 385 million euros  Area of 5,000 square meters dedicated to retail and services. of wh

  8. Slide 8: Inauguration of the Single Terminal in Paris-Orly and a New Toponymy

    INAUGURATION OF THE SINGLE TERMINAL IN PARIS-ORLY AND A NEW TOPONYMY Junction building PARIS-ORLY PREVIOUSLY PARIS-ORLY TODAY ORLY WEST ORLY 1 & 2 JUNCTION BUILDING ORLY 3 ORLY SOUTH ORLY 4 Groupe ADP – 2019 half-year results | 7

  9. Slide 9: 2019 Half-Year Financial Results

    02 2019 HALF-YEAR FINANCIAL RESULTS Philippe Pascal CFO

  10. Slide 10: Groupe ADP's Traffic Impacted by the Closure of Istanbul Atatürk

    GROUPE ADP’S TRAFFIC IMPACTED BY THE CLOSURE OF ISTANBUL ATATÜRK / Groupe ADP vs. peers for the 2019 first half-year Groupe Traffic Stake-weighted Group In Mpax 2019 / 2018 change 2019 / 2018 change(2) @100% traffic(1) Paris Aéroport (CDG+ORY) 52.3 4.8% 52.3 (@ 100%) 4.8% Zagreb 1.5 4.2% 0.3 (@ 20.8

  11. Slide 11: Paris Aéroport's Traffic Up by 4.8%

    PARIS AÉROPORT’S TRAFFIC UP BY 4.8% / Paris Aéroport vs. peers H1 2019 / H1 2018  Dynamism of Paris Aéroport’s traffic Paris-CDG+ORY 52 +4.8% (+4.8%):  CDG: +7.1%. at 36.3 mPax London-Heathrow 39 +1.8%  ORY: -0.1%. at 16.0 mPax Amsterdam-Schiphol 35 +1.4% Frankfurt-Fraport 34  Significant connec

  12. Slide 12: Growth in Paris Aéroport Traffic over 2019 First Semester

    GROWTH IN PARIS AÉROPORT TRAFFIC OVER 2019 FIRST SEMESTER NORTH AMERICA 10.2% EUROPE +10.4% 43.9% FRANCE +4.4% 15.4% ASIA/PACIFIC Canada: +1.9% 6.5% +9.8% +4.1% U.S.A.: MIDDLE-EAST Japan: +10.1% FRENCH OVERSEAS TERRITORIES +8.3% 4.5% AFRICA 5.2 % China (1): +6.2% +2.6% +9.4% 11.0% +4.9% LATIN AMERIC

  13. Slide 13: Full Consolidation of Société de Distribution Aéroportuaire and Relay@ADP

    FULL CONSOLIDATION OF SOCIÉTÉ DE DISTRIBUTION AÉROPORTUAIRE AND RELAY@ADP  Takeover linked to government rights reinforcement of ADP over the JVs  As of 2019 second quarter, change of ADP’s accounting method from equity method to full consolidation method with the following effects:  Integration

  14. Slide 14: Revenue Up by 17.0% to €2,185 Million

    REVENUE UP BY 17.0% TO €2.185 MILLION GROWTH OF ALL THE SEGMENTS €M +17.0% Retail and services: International and airports +35.2% developments 2 185 63 26 25 (B) 85 2 14 13 9 (A) 19 197 1 867 38 +6.8% +53.8% H1 2018 Aviation FC(1) of FC(1) of Elimination Other retail Revenue Real Estate Other Intern

  15. Slide 15: EBITDA Growth of 10.9% at €764M

    EBITDA GROWTH OF 10.9% AT €764 M €M Operating expenses of ADP SA(2) 35 6 24 21 7 230 125 764 19 13 12 689 +8.6% +2.6% +14.8% H1 2018 Growth in Purchases Employee Other CDG Express Others FC(1) of FC(1) of Change in Change in H1 2019 Groupe revenue and External benefit costs incomes and & SGP Société

  16. Slide 16: TAV Airports in H1 2019

    TAV AIPORTS IN H1 2019 / TAV AIRPORTS INDICATORS In €m H1 2018 H1 2019 2019/2018 TAV AIRPORTS proforma  Revenue increase despite the Istanbul Atatürk Revenue 337 313 +8.2% closure:  The signifcant growth of international traffic in Turkey (Antalya +21.5%, Bodrum +24.8%, Izmir +17.4%) as well OPEX

  17. Slide 17: Net Income Attributable to the Group Increased by 22.0% at €250M

    NET INCOME ATTRIBUTABLE TO THE GROUP INCREASED BY 22.0% AT €250M €M Of which : Of which:  TAV Airports: +€33M  TAV Airports : -€19m  AIG: -€15m +22.0% 13 250 58 20 6 5 75 43 37 15 205 H1 2018 EBITDA Amortization Share of Share of Other Financial Taxes Net result Elimination H1 2019 NRAG and secur

  18. Slide 18: A Solid Financial Situation as of 30 June 2019

    A SOLID FINANCIAL SITUATION AS OF 30 JUNE 2019 DEBTS REPAYMENT SCHEDULE (€ MILLION) 34 158 33 5 1391 61 64 24 88 79 42 5 38 95 82 85 74 139 174 680 564 613 515 513 513 513 413 413 10 79 13 13 16 13 24 13 11 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032-2038 Airport Internatio

  19. Slide 19: Outlook & Conclusion

    03 OUTLOOK & CONCLUSION Augustin de Romanet Chairman and CEO

  20. Slide 20: Reinforcement of the Group Commitment for Environment on Parisian Platforms

    REINFORCEMENT OF THE GROUP COMMITMENT FOR ENVIRONMENT ON PARISIAN PLATFORMS  Ambition for fighting against the climate change  Zero emission objective in 2030 + Zero net emission objective (CO2) in 2050 i.e. without compensation Groupe ADP actions:  Division by two of CO2 emission of the air tran

  21. Slide 21: Great Performance of the SPP (+5.1%) over the 1st Half-Year

    GREAT PERFORMANCE OF THE SPP (+5.1%) OVER THE 1ST HALF-YEAR  SPP at €18.8 during the H1 2019 increasing by +5.1% compared to H1 2018  Very good traffic mix : +6.3% of international traffic vs +4.8% of Paris Aéroport in H1 2019  Good performance of luxury goods since the beginning of the year  As

  22. Slide 22: Gap of Calendar and Securing of CDG Express Project

    GAP OF CALENDAR AND SECURING OF CDG EXPRESS PROJECT  A project securing by the confirmation of the Minister for Transport to achieve the CDG Express project:  An opening delay from end 2023 to end/December 2025 in order to conciliate the works realization with daily transports  An amendment to th

  23. Slide 23: Indicative Schedule of Upcoming Deadlines of the ERA 4 / Terminal 4

    INDICATIVE SCHEDULE OF UPCOMING DEADLINES OF THE ERA 4 / TERMINAL 4 Next economic regulation agreement Public 2021-2025 Public consultations Negotiations Submittal to ISA Signature of the Cocoaéro Consultation Document and IATA with the State for approval ERA meetings Formal ADP proposal in Discussi

  24. Slide 24: Revision of Some 2019 Objectives

    REVISION OF SOME 2019 OBJECTIVES  Revision of the traffic growth assumption for Paris Aéroport between +3.0% and +3.5% (vs. between +2.5% and +3% previously) Group traffic  Traffic decline assumption for TAV Airports Group(4) between -38% and -42% => Partial revision compared to 2018 (calculated w

  25. Slide 25: Appendices

    04 APPENDICES

  26. Slide 26: H1 2019 Detailed Group Income Statement

    H1 2019 DETAILED GROUP INCOME STATEMENT In €m (unless stated otherwise) H1 2019(1) H1 2018(1) 2019/2018 Passengers Groupe ADP (mPax) 117,1 130,4 -10.3% -13.3Mpax Of which Paris Aéroport passengers (mPax) 52.3 49.9 +4.8% +2.4MPax Revenue 2,185 1,867 +17.0% +319M€ Of which TAV Airports 337 313 +8.2% +

  27. Slide 27: Growth of All Financial Indicators

    GROWTH OF ALL FINANCIAL INDICATORS REVENUE +17.0% Contribution of 2,185 AIG(2)  Growth in airport fees (+6.4%) driven by the increase in tariffs, passenger traffic 1,867 116 dynamics (+4.8%) notably international traffic (+6.3%); 53 337 313 +15.3% TAV Airports  Contribution of the full consolidati

  28. Slide 28: Aviation

    AVIATION H1 2019 INCOME STATEMENT / EBITDA & OP. INCOME FROM ORDINARY / REVENUE (€ MILLION) ACTIVITIES (€ MILLION) +4.2% -10.5% EBITDA 4 5 1 944 7 Op. income from ord. act. 0 +0.2% 906 23 263 264 124 111 27,0 % 10,4 % 28,0 % 10,7 % H1 2018 Passengers Landing Parking Ancillary fees Revenue Other H1 2

  29. Slide 29: Aviation: Monthly Change in Paris Aéroport Traffic

    AVIATION MONTHLY CHANGE IN PARIS AÉROPORT TRAFFIC / MONTHLY CHANGE IN PARIS AÉROPORT TRAFFIC Q1 Q2 Q3 Q4 2019: +4.1% 2019: +5.4% 2018: +4.2% 2018: +4.9% 2018: +3.7% 2018: +2.3% Monthly mPax change 11 +10% +8% 10 +6% 9 +4% 8 +2% 7 +0% 6 -2% Jan. Fév. Mar. Avril Mai Juin Juil. Aout Sept. Oct. Nov. Déc

  30. Slide 30: Retail and Services

    RETAIL AND SERVICES H1 2019 INCOME STATEMENT / EBITDA & OP. INCOME FROM ORDINARY / REVENUE (€ MILLION) ACTIVITIES (€ MILLION) +35.2% 26 +23.5% EBITDA 85 8 4 637 3 3 13 Op. income from ord. act. 197 +5.1% 478 242 255 222 Retail activities 180 +€157M (+69.8%) 56,0% 57,7 % 43,5% 47,1 % 55,9% 56,0 % 42,

  31. Slide 31: Real Estate

    REAL ESTATE H1 2019 INCOME STATEMENT / EBITDA & OP. INCOME FROM ORDINARY / REVENUE (€ MILLION) ACTIVITIES (€ MILLION) +35.1% EBITDA +6.8% +24.8% ROC 146 84 5 1 67 137 6 61 44 External Revenue +€13M (+7.9%) 56,7% 61,9 % 39,7% 39,4 % 83,5% 56,7 % 64,7% 39,8 % H1 2018 Lands Building Others H1 2019 S1 2

  32. Slide 32: Real Estate: Projects Pipeline as at the End of June 2019

    REAL ESTATE PROJECTS PIPELINE AS AT THE END OF JUNE 2019 Airport Segment ADP Role Operator Project Opening Floorspace (sq.m.) CDG Diversification Developer Sogafro/SDV Offices and warehouses 2016 37,500 Equipment maintenance CDG Aeronautical Investor Aerolima 2016 4,300 centre CDG Aeronautical Devel

  33. Slide 33: International and Airport Development

    INTERNATIONAL AND AIRPORT DEVELOPMENT H1 2019 INCOME STATEMENT / EBITDA & OP. INCOME FROM ORDINARY / REVENUE (€ MILLION) ACTIVITIES (€ MILLION) -41.8% +25.9% EBITDA +32.7% 493 Op. income from ord. act. 25 138 6 392 63 6 104 75 43 H1 2018 ADP AIG Other ADP TAV Airports H1 2019 H1 2018 H1 2019 revenue

  34. Slide 34: Other Activities

    OTHER ACTIVITIES H1 2019 INCOME STATEMENT / EBITDA & OP.INCOME FROM ORDINARY / PRODUCTS (€ MILLION) ACTIVITIES (€ MILLION) EBITDA +8.0% Op. income from ord. act. +12 M 78 +98.4% 72 8 2 23 16 13 6 12,9% 12,8 % 6,4% 5,8 % 11,6% 12,9 % 4,3% 6,4 % H1 2018 revenue Hub One Others H12019 revenue H1 2018 H1

  35. Slide 35: Disclaimer

    Disclaimer  This presentation does not constitute an offer of, or an invitation by or on behalf of Aéroports de Paris to subscribe or purchase financial securities within the United States or in any other country. Forward-looking disclosures are included in this press release. These forward-looking

Groupe ADP — H1 2019 Earnings Presentation on 6ix