Aeroports de Paris · EURONEXT:ADP
Aeroports de Paris — Groupe ADP — FY2021 Earnings Presentation
20 slides from Aeroports de Paris's earnings presentation, Feb 16, 2022
Slide 1: 2021 Full-year results
2021 Full-year results 16 February 2022 1
Slide 2: 2021 Highlights
2021 HIGHLIGHTS 2021 Full-year results 2
Slide 3: Traffic recovery during the second half of the year in line with forecasts
A TRAFFIC RECOVERY DURING THE SECOND HALF OF THE YEAR IN LINE WITH OUR FORECASTS Monthly passengers traffic evolution over 2021 compared to 2020 et 2019 Paris Aéroport Groupe ADP excluding Paris Aéroport1 MPax MPax 26 26 24 24 22 22 20 20 18 18 2019 16 16 14 14 12 12 2021 10 10 8 2019 8 6 6 2020 202
Slide 4: Indicators all trending upward
INDICATORS ALL TRENDING UPWARD Revenue(1)(2) EBITDA(1)(2) Operating income from Net result attributable €M €M ordinary activities(1)(2)(3) to the group(1)(2)(3) €M €M +29.9% +€583M +€640M 2,777 751 2,137 +€1,094M +€921M 168 2020 2021 2020 2021 2020 2021 2020 2021 -29 -248 -1,123 -1,169 1. The accoun
Slide 5: Passenger satisfaction always at the heart of the group's priorities
PASSENGER SATISFACTION ALWAYS AT THE HEART OF THE GROUP'S PRIORITIES 5 of Groupe ADP airports in the top 100 of the 5 stars in the Skytrax covidfree audit 2021 Skytrax ranking(3) awarded to several of our participating airports 15th: Paris-CDG (prev. 20th) Paris-Charles De Gaulle 45th: Delhi (prev.
Slide 6: A permanent adaptation of the company
A PERMANENT ADAPTATION OF THE COMPANY Adapting by optimizing and Adapting by the Adapting by the tightening strengthening the competitiveness implementation of social our organizations of our infrastructures measures Pursuing the strategy of closing and Implementation of the collective mutually Adap
Slide 7: A development of international activities in 2021
A DEVELOPMENT OF INTERNATIONAL ACTIVITIES IN 2021 Expansion of Groupe ADP's airports network Gain of the Antalya concession for 25 additional years Acquisition of Almaty Airport, the largest airport in Central Asia, on April 29th, 2021, by TAV Airports Win of the concession of Medan airport, Indones
Slide 8: 2021 punctuated by numerous ESG initiatives in Paris and abroad
2021 PUNCTUATED BY NUMEROUS ESG INITIATIVES IN PARIS AND ABROAD Promising developments and successes in the environmental sector - A partnership was signed in June 2021 between ADP, Air Liquide and Airbus to pave the way for the arrival of the liquid hydrogen aircraft - Sustainable aviation fuels ha
Slide 9: 2021 Financial results
2021 FINANCIAL RESULTS 2021 Full-year results 9
Slide 10: A recovery of group traffic in 2021 in line with forecasts
A RECOVERY OF GROUP TRAFFIC IN 2021 IN LINE WITH FORECASTS Group traffic at 160.0 mPax(1), in 2021, up by +37.2%, at 45.6% of 2019 level France Croatia North Macedonia Georgia Turkey • Paris-CDG: 26.2 mPax (+17.7%) • Zagreb • Skopje, Ohrid • Tbilisi, Batumi • Antalya: 22.0 mPax (+126.6%) • Paris-Orl
Slide 11: Traffic at Paris Aéroport up by +26.8% compared to 2020
TRAFFIC AT PARIS AÉROPORT UP BY +26.8% COMPARED TO 2020 Paris Aéroport vs. peers % compared Increase in traffic at Paris Aéroport compared to 2020: to 2019 traffic in Mpax CDG: +17.7%, at 26.2Mpax Paris-Charles de Gaulle ORY: +45.6%, at 15.7Mpax and Paris-Orly 42 38.8% Amsterdam - Schiphol 25 35.6%
Slide 12: Good performance of the EBITDA...
GOOD PERFORMANCE OF THE EBITDA… Revenue change by entity MAIN DRIVERS OF REVENUE VARIATION(1) €M • Recovery of group trafic on all activities, leading to a rise in revenue from: +29.9% + 169 million euros for ADP SA and + 80 million euros for SDA & Relay@ADP + 137 million euros for TAV Airports (exc
Slide 13: ...thanks to the continuation of cost control measures in 2021
… THANKS TO THE CONTINUATION OF COSTS CONTROL MEASURES IN 2021 Strong growth in the group's organic EBITDA 751 +€583M 377 51 4 109 168 50 Base effect of Gains on real estate Reform of Other effects Organic growth 2020 EBITDA impairments of production taxes 2021 EBITDA receivables in 2020 Good contro
Slide 14: An improvement in net result attributable to the group
AN IMPROVEMENT IN NET RESULT ATTRIBUTABLE TO THE GROUP OIFOA change by entity €M MAIN DRIVERS OF THE OPERATIONAL INCOME FROM ORDINARY ACTIVITIES VARIATION(1)(2) +€1,094M • Favorable base effect linked to the recording in 2020 of impairments of -29 intangible assets internationally (€252M), of Sociét
Slide 15: A controlled cash position at the end of December 2021
A CONTROLLED CASH POSITION AT THE END OF DECEMBER 2021 Debt repayment schedule (principal excluding interest as of 31/12/2021 in €M) ADP excl. TAV Airports and AIG 1,513 1,363 413 515 513 1,013 TAV Airports 763 763 Airport International Group 513 513 613 312 273 226 41 75 77 24 74 14 72 5 77 8 41 43
Slide 16: 2022 forecasts & assumptions
2022(1) FORECASTS & ASSUMPTIONS Traffic assumptions • Group traffic(2) • Between 70% and 80% of the 2019 group traffic (new) • Traffic at Paris Aéroport • Between 65% and 75% of the 2019 Paris Aéroport traffic (confirmed) Group EBITDA Margin In % of the group revenue • Between 30% and 35% in 2022 (n
Slide 17: Summary of forecasts and targets 2022-2025 (1/3)
SUMMARY OF FORECASTS AND TARGETS 2022-2025 (1/3) 1 Group traffic2 Return of the 2019 traffic level 70% - 80% between 2023 and 2024 - in % of 2019 traffic 65% - 75% 85% - 95% 90% - 100% 95% - 105% Traffic at Paris Aéroport Return to the 2019 traffic level in % of 2019 traffic between 2024 and 2026, M
Slide 18: Summary of forecasts and targets 2022-2025 (2/3)
SUMMARY OF FORECASTS AND TARGETS 2022-2025 (2/3) 1 ADP SA operating expenses by passenger - - €16-€18/pax in € Group EBITDA growth Return to the 2019 level compared to 2019 - - EBITDA above or equal to - €1,772M Group EBITDA margin Between 30% and 35% Between 35% and 40% In % of revenue Net result a
Slide 19: Summary of forecasts and targets 2022-2025 (3/3)
SUMMARY OF FORECASTS AND TARGETS 2022-2025 (3/3) 1 Group investments 1 billion euros per year on average between 2022 and 2025 (excl. financial investments) ADP SA investments (excl. financial investments €550M – €600M €750M - €800M €650M - €750M €800M - €900M regulated / non-regulated) Net financia
Slide 20: Q&A
Q&A 2021 Full-year results 20