Aeroports De Paris · EURONEXT:ADP
Aeroports De Paris — Q1 2024 Earnings Presentation
26 slides from Aeroports De Paris's earnings presentation, Apr 26, 2024
Slide 1: 2024 First Quarter Revenue
2024 First Quarter Revenue APRIL 26th, 2024
Slide 2: Q1 2024: Solid start to the year, in line with our expectations
Q1 2024: Solid start to the year, in line with our expectations Group Traffic FIRST QUARTER HIGHLIGHTS 77.1MPax ◆ Traffic developing in line with our assumptions: +11.3%1 ◆ Traffic up +4.4% in Paris, incl. an impact from 4-flight trial in Jan.-Feb. Paris Traffic ◆ Strong momentum at TAV Airports: +2
Slide 3: Recognition of Groupe ADP Airports quality of service – SKYTRAX 2024
Recognition of Groupe ADP Airports quality of service – SKYTRAX 2024 PARIS AÉROPORT PARIS-CDG ranked 6 th PARIS-ORLY ranked 30 th Best airport in Best Regional Europe airport in Europe for the third year in a row Up 109 places since 2019 INTERNATIONAL AIRPORTS DELHI ranked 36 th MEDINA ranked 50 th
Slide 4: Traffic growing in line with our assumptions
Traffic growing in line with our assumptions Paris Aéroport traffic Group traffic 1 In MPax In MPax 108.0 337.1 336.4 99.7 +11.3% +4.4% 23.7 21.0 22.0 72.2 69.3 77.1 … … 2019 2020-2022 2023 Q1 2024 2019 2020-2022 2023 Q1 2024 1. Group traffic includes traffic from airports operated by Groupe ADP in
Slide 5: Paris Aéroport: solid traffic growth
Paris Aéroport: solid traffic growth Share of Q1 24 Traffic growth LOAD FACTOR LOW-COST TRAFFIC Q1 24 traffic vs. Q1 2023 traffic 11,8% 84.1% 84.3% 26.7% 21.0% Mainland France (4.8)% In Q1 2024 In Q1 2019 Of Q1 2024 traffic Of Q1 2019 traffic 5,7% CONNECTING RATE French Overseas T. +3.9% 43,0% 21.0%
Slide 6: Extime Paris sales per pax performance
Extime Paris sales per pax 1 performance €30.3 €32.7 2024-2025 trends: €22.9 TEMPORARY ADVERSE EFFECTS likely to affect short term performance : Reopening of T2C in May ‘24 with a less developed commercial offering compared to Extime Premium terminals T2A to reopen later in the year FY FY Works in T
Slide 7: Focus on TAV Airports and GMR Airports
Focus on TAV Airports and GMR Airports TAV AI RPORTS 1 GMR AIRPORTS (GAL) +XX% vs Q1 2023 +XX% vs Q1 2023 Almaty 2.5 +31.0% Delhi 19.2 8.2% MPax MPax Medina 3.1 +22.9% Hyderabad 6.5 13.4% MPax MPax 3.3 +21.4% 1.7 Antalya MPax Medan (6.5%) MPax 2.9 +17.2% 1.3 101.7% Ankara MPax Goa MPax TAV Airports
Slide 8: Solid revenue growth, up +€130M (+10.9%) to €1,324 million
Solid revenue growth, up +€130M (+10.9%) to €1,324 million PARISIAN ACTIVITIES In €M (4) (1) 1,324 1 71 4 12 30 1,194 17 Retail and services International & airport development Q1 2023 Revenue Aviation Extime Duty Free Other retail Real estate TAV Airports AIG Other Other activities Q1 2024 Revenue
Slide 9: Outlook
OUTLOOK Q1 2024 Revenue ◆ Groupe ADP
Slide 10: 2024 – 2025 targets confirmed
2024 – 2025 targets confirmed 2024 2025 GROUP TRAFFIC1 GROWTH > +8.0% vs. 2023 - PARIS TRAFFIC GROWTH +3.5% to +5.0% vs. 2023 +2.5% to +4.0% vs. 2024 TARGETS EXTIME PARIS SPP GROWTH - +3.0% to +5.0% vs. 2023 Incl. impacts of new tax in France EBITDA GROWTH > +4.0% vs. 2023 > +7.0% vs. 2024 - 3.5x –
Slide 11: Appendices
APPENDICES Q1 2024 Revenue ◆ Groupe ADP
Slide 12: Group traffic in Q1 2024
Group traffic 1 in Q1 2024 in Mpax Group traffic (Pax) 2024/2023 change (in%) Paris-CDG 15,059,671 +5.2% Paris-Orly 6,917,058 +2.7% Total Paris Aéroport 21,976,729 +4.4% Antalya 3,323,782 +21.4% Almaty 2,503,740 +31.0% Ankara 2,887,966 +17.2% Izmir 2,232,956 +15.0% Bodrum 295,727 +11.9% Gazipaşa 135
Slide 13: Aviation: Q1 2024 income statement
Aviation Q1 2024 – Income statement REVENUE (€M) +4.0% (3) 447 7 1 0 3 9 430 Q1 2023 Passengers fees Landing fees Parking fees Ancillary fees Revenue from Other products Q1 2024 airport safety and Revenue Revenue security services (in millions of euros) Q1 2024 Q1 2023 2024/2023 Revenue 447 430 +€17
Slide 14: Retail and services: Q1 2024 income statement
Retail and services Q1 2024 – Income statement REVENUE (€M) +11.1% 1 426 11 2 3 3 14 384 16 Q1 2023 Extime Duty Extime Travel Other retail Car parks and Industrial Rental income Other income Q1 2024 Revenue Free Paris Essentials Paris activities access roads services Revenue (in millions of euros) Q
Slide 15: Retail and services subsidiaries
Retail and services subsidiaries RETAIL SUBSIDIARIES & JVS Ownership Functional Company Activity Notes Consolidation method as of 31/03/2024 Currency Extime Duty Free Paris Retail JV with Lagardère Duty Free 51% Full consolidation EUR (ex. Société de Distribution Aéroportuaire) Extime Travel Essenti
Slide 16: Real estate: Q1 2024 income statement
Real estate Q1 2024 – Income statement REVENUE (€M) +4.0% 93 1 (2) 97 0 5 FY 2022 Revenue Land Buildings Other external Internal revenue FY 2023 Revenue revenue (in millions of euros) Q1 2024 Q1 2023 2024/2023 Revenue 97 93 +€4M +4.0% External revenue 87 81 +€6M +6.9% Revenue: +€4M, driven by: Land
Slide 17: International and airport development
International and airport development Q1 2024– Income statement REVENUE (€M) +21.3% 1 (3) 389 71 321 (4) 4 Q1 2023 Revenue AIG ADP Ingénierie TAV Airports SDA Croatie Others Q1 2024 Revenue (in millions of euros) Q1 2024 Q1 2023 2024/2023 Revenue 389 321 +€68M +21.3% Revenue: +€68M, driven by: ADP I
Slide 18: TAV Airports main assets & subsidiaries
TAV Airports main assets & subsidiaries Expiration Ownership Functional Company Activity 2019 Traffic Consolidation method date (by TAV) Currency(1) AIRPORT COMPANIES TAV Kazakhstan Airport Operator, Fuel, F&B, Lounges, Ground Handling, Cargo - 6.4 Mpax 100%(2) Full consolidation USD TAV Ege Izmir a
Slide 19: TAV Airports: 2024 and 2025 guidances
TAV Airports: 2024 and 2025 guidances FY 2023 RESULTS 2024 GUIDANCE 2025 GUIDANCE (Includes New Ankara 2025+) 14 -18% REVENUE (€M) 1,309.7 1,500 – 1,570 CAGR (2022-2025) expected TOTAL PASSENGERS (M) 95.5 100-110 10 – 14% CAGR (2022-2025) expected INTER. PASSENGERS (M) 62.9 67-73 EBITDA MARGIN (%) 2
Slide 20: GMR Airports main assets & structure
GMR Airports main assets & structure STRUCTURE Acquisition price: Market cap.: GMR Airports Infra. LTD Groupe ADP €1,4bn1 €5.5bn2 “GIL” 49% GMR Airports LTD 51% “GAL” 64% 74%3 49% 99% 100% DIAL GHIAL PT Angkasa Pura Av. GGIAL GADL Assets under Delhi Airport Hyderabad Airp. Medan Airport Goa Airport
Slide 21: GMR Airports - contemplated project merger between GAL & GIL
GMR Airports - contemplated project merger between GAL & GIL SEE PRESS RELEASE FROM MARCH 19TH, 2023 1 2 3 CONTEMPLATED CONTEMPLATED CURRENT STRUCTURE SHAREHOLDING STRUCTURE ECONOMIC INTEREST Post-merger, in share capital Based on the shareholding structure incl. OCRPS GMR Group Groupe ADP GMR Group
Slide 22: Other activities
Other activities Q1 2024 – Income statement PRODUCTS (€M) -1.5% 44 43 0 1 Q1 2023 Products Hub One Others Q1 2024 Products (in millions of euros) Q1 2024 Q1 2023 2024/2023 Products 43 44 -€1M -1.5% Products: down -€1M Hub One 40 40 - +1.0% Q1 2024 Revenue ◆ Groupe ADP 22
Slide 23: 2025 Pioneers strategic roadmap indicators
2025 Pioneers strategic roadmap indicators N° Key Performance Indicator Scope 1 Make more than 80% of flights depart on time or within 15 minutes of the scheduled time Airports controlled within Groupe ADP 2 Reduce average taxiing emissions per flight by 10% at Paris-Orly and Paris-CDG 3 Set a carbo
Slide 24: Definitions
Definitions ◆ Revenue refers to revenues from the ordinary activities of selling goods and services and leasing ◆ Purchase of intangible assets corresponds to the acquisition of identifiable non-monetary assets activities as a lessor. It also includes financial revenue linked to operational activity
Slide 25: Financial calendar
Financial calendar (Subject to change) 2024 FINANCIAL PUBLICATIONS UPCOMING THEMATIC CONFERENCES April traffic figures: 16 May 2024 2024 General meeting of Shareholders: 21 May 2024 GMR Airport thematic conference Virtual – Upon contemplated GIL & GAL Ex-Dividend1: 10 June 2024 merger completion (ex
Slide 26: 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 (including, if so, forecasts and objectives) are included i