France's Aéroports de Paris downwardly revised (20-Dec-2012) its annual traffic growth rate forecast to 1.9% to 2.9% between 2010 and 2015, compared to its previous forecast of 3.2%, based on traffic trend and economic forecasts observed since summer 2012. The strength of the Group's business model, which relies on a stable and incentivising regulatory framework and on fast growing retail and real estate activities, remains intact. Aéroports de Paris counts on these two pillars to secure its future growth. Aéroports de Paris will continue to implement the Economic Regulation Agreement and will maintain its retail and real estate development targets. To reach the group's targets, it has also launched a new cost savings programme aiming at containing the growth in operating costs has also been launched. The group's 2015 targets are as follows:
- EBITDA: Expected to grow by 25% to 35% between 2009 and 2015, compared to previous forecast of 40%;
- ROCE of regulated perimeter should range between 3.8% and 4.3% in 2015, compared to 4.5% to 5.0%;
- Cost savings programme has just been launched to limit growth in operating costs of parent company by 3.0% maximum on average per year between 2012 and 2015;
- Headcounts of parent company should decrease by 7% in total between 2010 and 2015.
The Group also confirms its targets for 2012 of a moderate growth in revenue and EBITDA and expects traffic to be stable in 2013 compared to 2012. Furthermore, aeronautical fees should increase by 3.0% as of 01-Apr-2013. [more - original PR]