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Regulatory News:
Aeroports de Paris (Pink Sheets:AEOPF) (Paris:ADP):
-0-
*T
Turnover On 30 March On 30 March Fluctuation
(in thousands of euros) 2007 2006 2007/2006
----------------------------------------------------------------------
Airport services 414 896 396 054 + 4.8%
Airport fees 159 325 146 808 + 8.5%
Ancillary fees 26 513 26 987 - 1.8%
Commercial activities 49 516 48 272 + 2.6%
Car parks and access 35 544 33 190 + 7.1%
Industrial services 24 568 25 492 - 3.6%
Airport tax 80 526 76 934 + 4.7%
Rental revenue 18 858 16 249 + 16.1%
Other revenue 20 046 22 122 - 9.4%
Ground handling & related
services 43 361 38 502 + 12.6%
Real estate 47 649 41 208 + 15.6%
Other activities 70 390 52 749 + 33.4%
Inter-segment eliminations (61 092) (52 885) + 15.5%
----------------------------------------------------------------------
Consolidated total 515 204 475 628 + 8.3%
----------------------------------------------------------------------
*T
Pierre Graff, Chairman and CEO of Aeroports de Paris, commented on
these figures:
"The strong growth in our turnover in the first quarter of 2007 (+
8.3 %) shows the group's capacity to capture traffic growth and also
to develop its other activities, in particular its real estate
activities and its subsidiaries."
Growth in turnover exceeds that of traffic
Aeroports de Paris traffic marked strong growth of 6.7 % in the
2007 first quarter totalling 19.2 million passengers. Traffic
increased by 6.8% at Paris-Charles de Gaulle (with 13.1 million
passengers) and 6.4 % at Paris-Orly (with 6.2 million passengers).
This evolution confirms the group's capacity to capture traffic growth
taking into account, in particular, the complementarity of its
platforms.
Turnover for the first quarter of 2007 totalled 515.2 million
euros, recording a strong growth of 8.3 % above that of traffic. This
performance resulted from the expansion in airport services as well as
the dynamism of real estate and subsidiaries, in particular the
Societe de Distribution Aeroportuaire.
Expansion in airport services
Income from the Airport Services segment rose by 4.8 % to 414.9
million euros thanks to the dynamism of traffic, increased charges and
airport taxes.
Airport fees (landing, passengers, aircraft parking, fuelling and
lighting fees) increased by 8.5 % to 159.3 million euros under the
combined effect of a rise in passenger traffic and increased tariffs
(the 2006 tariffs, i.e. + 5% including inflation, were applied from 15
May 2006 to 31 March 2007).
Ancillary fees, a category consisting of fees for auxiliary
services (baggage handling, check-in counters, de-icing) and other
services (VIP lounges, network rentals), dropped by 1.8% to 26.5
million euros. This decrease was mainly due to the 67% drop in the
number of planes de-iced due to mild weather during the first quarter
of 2007.
Commercial revenues rose 2.6% to 49.5 million euros. Apart from
foreign exchange activities, commercial activities (shops, bars,
restaurants, rentals and advertising) grew significantly, above 10 %.
Car parks revenues rose 7.1% to 35.5 million euros driven, in
particular, by the increase in the average ticket in the Paris-Charles
de Gaulle and Paris-Orly hourly parking areas and the increase in the
number of season tickets.
Industrial services (supply of energy, fluids, etc.) dropped by
3.6% to 24.6 million euros. This decrease reflects the drop in gas
prices, which was automatically passed on to selling prices.
Airport tax revenues rose 4.7 % to 80.5 million euros. This
increase can be explained by the combined effect of increased traffic
and the State's increase of the airport tax to take into account the
reinforced security measures in force since 6 November. Since 1
January 2007 this tax is 8.75 euros by departure passenger against
8.50 euros for the year 2006.
Rental revenues from leasing space in terminals, rose 16.1% to
18.9 million euros due to the increase of the construction cost index
(+ 7 % since 1 January 2007), increases of rental charges and the
rental of new premises at Paris-Orly (new Air France lounge on the
mezzanine in Hall 2 of Orly West, extension of the El AI lounge).
Other income dropped by 9.4% to 20.0 million euros. This drop is
linked in particular to the end of aerobus activities (elevator buses
rented to the airlines).
Stabilisation in Ground handling and related services
Income from Ground handling and related services increased by
12.6% to 43.4 million euros in comparison with the first quarter of
2006 which had particularly suffered from a loss of major contracts at
the end of the year 2005.
Revenues from this segment tend to stabilize with a decrease in
the first quarter 2007 of only 2.7 % compared to the previous quarter.
Strong increase in Real Estate (excluding terminals)
Real Estate revenues rose 15.6% to 47.6 million euros, benefited
in the first quarter from the increase in the construction cost index
on 1 January 2007 (+7 %).
The strong increase in income also reflected the upsurge in the
rental of new areas of land aimed at welcoming the West Maintenance
Base for the future A 380 and the maintenance centre for the hub at
Paris-Charles de Gaulle.
Dynamism of the Group's subsidiaries
Other Activities, which include the various subsidiaries of the
Group Aeroports de Paris, recorded a very strong increase of 33.4 % to
70.4 million euros.
The greatest contribution was by the Societe de Distribution
Aeroportuaire. This subsidiary that Aeroports de Paris holds jointly
with its partner Aelia, an airport distribution expert, directly
manages the shops specialising in Alcohol-Tobacco-Perfume-Cosmetics
products. The contribution of the Societe de Distribution
Aeroportuaire totals 35.0 million euros, which represents a rise of
59.4 %. This very strong growth can be explained by the extension, on
1 January 2007, of the scope of its activities to terminal 3 of
Paris-Charles de Gaulle and to Paris-Orly, in accordance with the
agreement signed last July between Aeroports de Paris and Aelia(2).
Not including consolidation effect, the contribution of Societe de
Distribution Aeroportuaire amounted to 15.2 % reflecting the dynamism
of the sales of duty-free shops.
Turnover for Hub Telecom remained practically stable (-0.5%) at
19.3 millions euros.
Income from ADPi, a subsidiary that offers international design,
architecture and engineering services, more than doubled (+ 105.8% to
13.3 million euros) due to new contracts signed in 2006, in particular
with Djeddah (Saudi Arabia) and Bogota (Colombia).
Income from Aeroports de Paris Management, a subsidiary dedicated
to airport management and acquisition of stakes in airport companies,
stood at 1.3 millions euros, representing a drop of 12.5% due to the
time-phasing of projects. In the first quarter 2007, Aeroports de
Paris Management sold its entire stake in Beijing Capital
International Airport Company Limited (BCIA)(3), for a net amount of
188.9 million euros.
AGENDA
Publication of 2007 half-year turnover: 10 August 2007
Publication of 2007 half-year results: 31 August 2007
Aeroports de Paris builds, converts and manages airport platforms
among which Paris-Orly, Paris-Charles de Gaulle and Paris-Le Bourget.
Aeroports de Paris is Europe's 2nd airport group in terms of airport
turnover and Europe's 1st group for freight and mail. Aeroports de
Paris has close to 460 airline company customers including major
players in air transport.
Benefiting from an exceptional geographic location and a strong
catchment area, the Group is pursuing a strategy for the development
of its welcoming capacities and improved service quality, and intends
developing stores and real estate. In 2006 Aeroports de Paris turnover
totalled 2076.8 M EUR . Aeroports de Paris welcomed 82.5 million
passagers.
(1) Non audited figures
(2) In addition, since 1 January 2007 the percentage of
proportional consolidation rose from 49% to 50%.
(3) Aeroports de Paris had acquired these shares during the
initial public offering and listing of 35% of the share capital of
BCIA on The Stock Exchange of Hong Kong Limited in February 2000.
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