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Aéroports de Paris 4% EBITDA growth in line with 2013 forecast, reaffirms 2013/15 guidance

30-Aug-2013 12:45 PM

France’s Aéroports de Paris revenue up 6% - financial highlights for six months ended 30-Jun-2013:

  • Revenue: EUR1346 million, +6.2% year-on-year;
    • Aviation: EUR791 million, +4.0%;
      • Airport fees: EUR431 million, +4.4%;
      • Ancillary fees: EUR99 million, +14.9%;
      • Airport security tax: EUR240 million, -0.1%;
    • Retail and services: EUR472 million, +7.4%;
      • Retail: EUR181 million, +10.5%;
      • Car parks: EUR82 million, +2.8%;
      • Industrial services: EUR39 million, +2.7%;
      • Rental income: EUR53 million, +6.8%;
    • Real estate: EUR133 million, +6.7%;
    • Airport investments: EUR5 million, -14.5%;
  • EBITDA: EUR487 million, +4.1%;
    • Aviation: EUR145 million, -0.9%;
    • Retail and services: EUR261 million, +5.6%;
    • Real estate: EUR78 million, +6.3%;
    • Airport investments: (EUR2 million), compared to breakeven in p-c-p;
  • Net profit: EUR125 million, -13.9%;
  • Sales per departing passenger: EUR17.6, +8.5%;
  • Total assets: EUR9398 million;
  • Cash and cash equivalents: EUR843.7 million;
  • Total liabilities: EUR5753 million;
  • 2013 EBITDA forecast: Assuming that traffic remains stable, consolidated revenue and EBITDA are expected to grow slightly
  • 2015 forecast:
    • EBITDA: +25% to +35% compared to 2009.
    • Traffic: +1.9% to 2.9% p/a between 2010 and 2015;
    • Increase in parent company operating charges: Less than 3% p/a between 2012 and 2015;
    • Return on regulated asset base: 3.8% to 4.3% in 2015;
    • Sales per departing passenger at airside shops: EUR19.0. [more - original PR]

Aéroports de Paris: "With growth in revenue of 6.2% and EBITDA up by 4.1%, the first half is in line with 2013 forecasts and reflects the strength of Aéroports de Paris' business model thanks essentially to the good performance of retail and real estate activities. Sales per passenger continue to grow (+8.5%) and stand at EUR17.6,” Augustin de Romanet, Chairman and CEO. Source: Company statement, 29-Aug-2013.