Aeroports De Paris · EURONEXT:ADP
Aeroports De Paris — Q1 2010 Earnings Presentation
14 slides from Aeroports De Paris's earnings presentation, May 12, 2010
Slide 1: Q1 2010 Revenue
Q1 2010 Revenue 12 May 2010 Q1 2010 Revenue │ 1
Slide 2: Q1 2010 key highlights
Q1 2010 key highlights In €m Q1 2010 ∆ 10 / 09 Traffic Traffic (MPax) 18.2 +0.8% Slight increase over Q1 2010 (+0.8%) Traffic affected by non recurring events Total revenue 646.2 +6.2% Aviation 331.2 +5.1% Growth of revenue (+6.2%) to €646.2m Retail & services 230.4 +5.3% Aviation, Retail, Real Esta
Slide 3: Slight growth of traffic in Q1
Slight growth of traffic in Q1 ADP traffic compared with peers Traffic dynamics Q2 09 Q3 09 Q4 09 Q1 10 M pax 2009 -4.6% -3.5% -2.4% +0.8% 4% 18.6 +0.2% 2% 18.2 +0.8% 0% -2% 11.3 +3.9% -4% 11.0 +6.2% -6% +4.9% -8% 9.3 -10% April 09 July 09 Oct. 09 Jan. 10 BAA = Heathrow + Stansted Fraport = Frankfur
Slide 4: International traffic up 2.5%
International traffic up 2.5% Total traffic: +0.8% International traffic1: +2.5% France Connecting traffic: -1.6% Europe 19.0% 39.4% North America -2.7% +0.9% 8.4% -1.5% Asia / Pacific 6.9% DOM-TOM Middle East +0.4% 4.5% 5.1% +9.1% +10.3% Latin America Africa 4.4% 12.9% -1.8% +2.8% % of total traffi
Slide 5: Aviation revenue up 5.1%
Aviation revenue up 5.1% Aeronautical fees up 3.2%: In €m 331 – Traffic effect: -€2.3m 315 – Pax: +0.8% 12 – Movements: -5.7% Other 11 – Tariff effect:+€8.4m Airport 98 90 security tax Ancillary fees up 3.5% – Non recurring (de-icing): +€2.9m Ancillary 43 45 – Change in baggage sorting system pricin
Slide 6: Good performance of retail and services: +5.3%
Good performance of retail and services: +5.3% Strong growth of retail (+8.9%): In €m – Increase in sales/pax (14.0€ ; +10.8%) 230 despite a slight growth in traffic 219 Car parks slightly up (+1.8%) thanks to: 55 Other 48 – Increase in the average ticket per user – Traffic increase 26 23 Rental rev
Slide 7: Retail revenue up 8.9%
Retail revenue up 8.9% Strong performance in sales / pax in restricted area: +10.8% to 14.0€ 92 Retail revenue up 8.9% to €92m driven by: In €m 84 Increase in sales/pax in restricted areas: 11 +10.8% to €14.0 thanks to better operations 13 6 2 management and good performance of JVs 5 (SDA & DFP) 2 6
Slide 8: Growth of Real Estate (+6.9%) mainly driven by the recent acquisition of Continental Square
Growth of Real Estate (+6.9%) mainly driven by the recent acquisition of Continental Square External revenue up 11.0% to €44.8m: In €m – Acquisition of Continental Square in 57 November 20091: +€3.7m 53 – Commercial development (+€3.5m): 12 extension of the FedEx hub, news rentals Internal 13 of lan
Slide 9: Slight decrease of Ground Handling segment despite a difficult environment
Slight decrease of Ground Handling segment despite a difficult environment Ground Handling down -2.6% despite strong In €m decline of ATM (-5.7%): – New contracts won: +€3.7m – Drop in activity of airlines in portfolio / renegotiations of contracts: -€3.5m 45 45 – Cessation of activity of airlines (
Slide 10: Other Activities up 19.4%
Other Activities up 19.4% Positive impact of the acquisition of Masternaut ADPI’s revenue down 3.5%: In €m – Strong Q1 2009 revenue 70 – Back-log still high: €215m at the end of March 2010 59 1 3 Strong growth of Hub télécom’s revenue ADP 2 (+49.4%): ADPM 2 – Acquisition of Masternaut Group in 2009:
Slide 11: Outlook
Outlook Original assumption of +0.5% in traffic in 2010 Based on the recent volcano eruption (negative impact of 1.4MPax) and thanks to more favourable outlook for upcoming months, ADP has an updated assumption of traffic in 2010 in the same order of magnitude as traffic in 2009 ADP maintains its re
Slide 12: APPENDIX
APPENDIX EE ee __\ AEROPORTS DE PARIS Q1 2010 Revenue | 12
Slide 13: Breakdown of Aeronautical fees
Breakdown of Aeronautical fees In €m Q1 2010 ∆ 10 / 09 Aeronautical fees 176.5 +3.2% Landing 48.5 -13.1% Parking 28.3 -9.2% Passenger 99.7 +18.7% Q1 2010 Revenue │ 13
Slide 14: Breakdown of sales per pax in restricted area
Breakdown of sales per pax in restricted area Sales/Pax(1) (€) 30 24,5 25 21,8 21,3 20 14,0 15 12,7 12,4 10 5,6 5,5 5,8 5 0 Q1 2009 2009 Q1 2010 Duty paid Duty Free Total 1) Sales per departure pax in shops in restricted areas Q1 2010 Revenue │ 14