ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON 6 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

2021

2020 (297)

(in millions of euros)

International and airport developments

1

Aviation

- - -

(55) (80)

Retail and services

Real estate

(4)

Other activities

(2) (1)

-

IMPAIRMENT LOSSES NET OF REVERSALS OVER THE PERIOD

(436)

International and airport developments segment In the current situation, the Group may have to negotiate with grantors and project lenders. In addition, business plans are based on concessions contractual term except in the case of an extension of the concession during the negotiation process and considered as highly probable. Impairment tests carried out are based on recovery scenarios in which the 2019 traffic levels should be reached from 2023. The assumptions depend on the characteristics of each of the concessions and are based on local Eurocontrol / IATA traffic forecasts. These impairment tests did not conclude that any impairment should be recognized.

Sensitivity analysis of discount rates show that a change of +100 basis points in the discount rate for tested concessions would result in an additional impairment loss of €21million. In addition, a sensitivity analysis at the level of traffic indicates that a delay in a return to the level of traffic in 2019 for tested international airport concessions would lead to an additional impairment loss of €51 million. Parisian platforms An impairment test has been performed on the Paris airports assets and shows that the fair value remain superior to the carrying value. The test is based on a perpetual growth rate of 2.1%, in line with the analysts’ hypothesis used to value Groupe ADP, and an EBITDA margin on revenues in line with the level observed in the end of the 2010’s. As a consequence, no impairment has been recognized on those assets.

NOTE 7 EQUITY AND EARNINGS PER SHARE

7.1 Equity Equity breaks down as follows:

Non controlling interests

Group share

Share capital

Share premium

Treasury shares

Retained earnings

Other equity items

Total

(in millions of euros)

AS AT 31 DEC. 2021

297

543

(1)

2,936

(259)

3,516

660 4,176

7.1.1 Share capital Aéroports de Paris SA’ aggregate share capital amounts to €296,881,806 divided into 98,960,602 fully paid shares of €3 each, which were not subject to any change during 2021. The share capital is accompanied by a share premium of €542,747 thousands pertaining to the issuance of shares in 2006. 7.1.2 Treasury shares

Treasury shares held by the Group are booked as a deduction from equity at their cost of acquisition. Any gains or losses connected with the purchase, sale or cancellation of treasury shares are recognized directly in equity without affecting the income statement.

As part of its liquidity contract and in accordance with the authorization given by the shareholders at the ordinary general meeting of 11 May 2021, during the period, the company repurchased 317,383 shares and sold 320,583 shares. Thus, the number of treasury shares that was 16,200 as at 31 December 2020 is 13,000 as at 31 December 2021 under this contract.

330

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