Aeroports De Paris · EURONEXT:ADP
Aeroports De Paris — Q1 2012 Earnings Presentation
16 slides from Aeroports De Paris's earnings presentation, May 15, 2012
Slide 1: Q1 2012 Revenue
Q1 2012 Revenue yy 15 May 2012 AEROPORTS DE PARIS
Slide 2: Q1 2012 highlights
Q1 2012 highlights Traffic up 3.7% Positive traffic mix with international destinations growing by 5.7% In €m (unless Q1 2012 ∆ 12 / 11 Connecting traffic surging by 10.2% and reaching indicated otherwise) 26.4% of overall traffic Passengers (in m) 19.6 +3.7% Revenue up 2.4% Solid growth of Aviation
Slide 3: Good traffic performance: +3.7% for the first quarter
Good traffic performance: +3.7% for the first quarter ADP vs. European airports Monthly traffic change Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q1 2012 / +3.9% +10.4% +4.0% +4.5% +3.7% m pax Q1 2011 [ +3.5%] ATM 12% 20 +3.7% -2.0% 10% Volcano 8% reversal 19 +2.5% effect 6% 12 +3.5% 4% 2% 11 -7.6% 0% -2% 10 +6.
Slide 4: A faster growing international traffic: +5.7% for the first quarter
A faster growing international traffic : +5.7% for the first quarter Total traffic: +3.7% International traffic*: +5.7% France Connecting traffic: +10.2% to 26.4% Europe 19.1% of total traffic North America 40.1% +0.5% +3.3% 8.5% +5.9% Asia / Pacific French overseas 7.2% territories Middle East +4.9
Slide 5: Revenue up 2.4%
Revenue up 2.4% Strong underlying growth offset by non recurring events In €m 3 (16) 18 (5) 8 5 599 +2.4% 585 Q1 2011 Aeronautical Other Retail & Real estate Other Inter-segment Q1 2012 revenue fees Aeronautical Services activities eliminations revenue pro forma * * From the year ended 31 December 2
Slide 6: Aviation up 4.0%
Aviation up 4.0% Mainly driven by traffic In €m Revenue: +4.0% Aeronautical fees up €5m (+2.8%) 347 Traffic growth: +€4m, driven par PAX fee 333 Other 11 11 Tariff increase as of 01/04/11 (+1.49%): +€3m revenue Traffic incentive*: -€2m Airport 105 100 security tax Ancillary fees up €3m (+8.0%) Ancil
Slide 7: Retail and Services up 9.0%
Retail and Services up 9.0% Boosted by fast growing retail activities In €m Revenue: +9.0% Excellent performance of Retail: +€8m (+11.4%) 220 Sales/pax up 8.3% to €16.3* 202 Good performance in every terminal thanks 56 in particular to fashion & accessories and Other revenue 53 highly contributive t
Slide 8: Strong growth of Retail
Strong growth of Retail Driven by the continued growth in sales/pax: +8.3% to €16.3 In €m Retail: +11.4% Shops in restricted areas Sales / pax up 8.3% to €16.3 75 Duty free Sales / pax at €29.6 Other revenue 67 7 Strong growth of BRIC countries 7 5 Advertising 6 Positive evolution of traffic mix 5 3
Slide 9: Real Estate up 5.1%
Real Estate up 5.1% Positive impact of indexation and new rentals In €m Revenue: +5.1% 61 58 External revenue up €3m (+6.7%) Internal 12 12 Indexation of leases as of 1st January revenue (+5.0%): +€1m Other 7 Revenue 6 Recent developments: +€1m (Aéroville, cargo station…) Buildings 20 20 Other reven
Slide 10: Other Activities down 21.4%
Other Activities down 21.4% Impacted by the disposal of Masternaut and the end of important contracts of ADPI In €m Revenue: -21.4% Hub télécom down €11m (-31.9%) Good underlying performance: +5,6% Impact of the disposal of Masternaut: -€13m 74 ADPM 2 58 Alyzia Sûreté up €2m (+8,2%) ADPI 22 3 Volume
Slide 11: APPENDIX
APPENDIX Q1 2012 Revenue│ 11 Résultats semestriels 2009 │ 11
Slide 12: New presentation of the financial statements from FY 2011
New presentation of the financial statements from FY 2011 Implementation of the option offered by the standard on interests in joint ventures (IAS 31) Compliance with IFRS 11 Removal of the method of proportionate consolidation Distinction between profit/loss of associates from operating and non-ope
Slide 13: Change in the P&L presentation
Change in the P&L presentation Before change After change From 2012 in presentation in presentation Revenue 50% Retail and Real Estate JVs 100% Alyzia Sûreté (Security) 100% Alyzia Sûreté (Security) 100% Alyzia Sûreté (Security) 100% Ground Handling EBITDA 50% Retail and Real Estate JVs 100% Alyzia
Slide 14: Airport fees
Airport fees In €m Q1 2012 ∆ 12 / 11 Airport fees 188 +2.8% Landing 44 +1.6% Parking 27 +0.3% Passengers 117 +3.8% Q1 2012 Revenue│ 14 Résultats semestriels 2009 │ 14
Slide 15: Sales/pax in restricted area: +8.3% at €16.3
Sales/pax in restricted area: +8.3% at €16.3 Sales/Pax (€) 35 29,6 30 27,9 27,6 25 20 15,1 16,3 15,0 15 10 5,7 5,9 6,1 5 0 Q1 2011 2011 Q1 2012 Duty paid Duty Free Total Q1 2012 Revenue│ 15 Résultats semestriels 2009 │ 15
Slide 16: Pipeline of real estate projects at the end of March 2012
Pipeline of real estate projects at he the end of march 2012: more than 280,000 sqm delivered or under development Type of project ADP' role Operator Project Opening Surface sqm Delivered projects 53,850 ORY Diversification Developer Franprix Logistics 2011 28,000 CDG Aeronautical Developer Air Fran