ADP // 2021 Universal Registration Document

BUS I NESS OVERV I EW FOR THE YEAR 202 1 AND FORWARD - LOOK I NG I NFORMAT I ON

ANALYSIS OF THE 2021 CONSOLIDATED RESULTS

Cash flows from investing activities

2021 (527)

2020 (848)

(in millions of euros)

Purchase of tangible assets, intangible assets and investment property

Change in debt and advances on asset acquisitions

(56)

39

Acquisitions of subsidiaries and investments (net of cash acquired) Proceeds from sale of subsidiaries (net of cash sold) and investments

(315)

(1,221)

2

-

Change in other financial assets

(210)

(93)

Proceeds from sale of property, plant and equipment

11

5 9

Dividends received

40

Cash flows from investing activities

(1,055)

(2,109)

In 2021, flows relating to tangible and intangible investments amount to 527 million euros for the Groupe ADP (compared with 848 million in 2019). The main investments in 2020 are described in section 5.3 of this document.

Cash flows from financing activities

5

2021

2020 4,189 (884)

(in millions of euros)

Proceeds from long-term debt Repayment of long-term debt

294

(578)

Repayments of lease debts and related financial charges

(17)

(15)

Capital grants received in the period

1

7

Revenue from issue of shares or other equity instruments

(1)

1

Net purchase/disposal of treasury shares

1

(3)

Dividends paid to shareholders of the parent company Dividends paid to non controlling interests in the subsidiaries

-

-

(4)

(32)

Change in other financial liabilities

(56)

50

Interest paid

(285)

(194)

Interest received

39

7

Impact of discontinued activities Cash flows from financing activities

(176) (782)

176

3,302

Net financial debt Net financial debt as defined by the Groupe ADP corresponds to the amounts shown on the liabilities side of the balance sheet under the headings long-term loans and borrowings and short term loans and borrowings, the debt related to the put option of minority shareholders, less derivative assets, cash and cash equivalents and restricted cash. The net debt/equity ratio was 192 % at 31 December 2021, compared with 178 % at 31 December 2020.

Cash and cash equivalents are down by 1,080million euros in 2021 compared to 2020, and thus stood to 2,378 million euros at the end of 2021 (compared to 3,458 million euros at the end of 2020). Cash flows from operating activities stood to 757 million euros in 2021, up +461 million euros compared to 2020. Cash flows from investing activities stood to -1,055 million euros in 2021, up +1,054 million euros compared to 2020, due to a base effect related to acquisitions of subsidiaries and investments in 2020. Cash flow from financing activities stood to -782 million euros in 2021, down -4,084 million euros, mainly due to the base effect related to the receipt of bonds in 2020.

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AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 202 1