ADP // 2021 Universal Registration Document

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2021

INCOME AND EXPENSE WITH NO IMPACT ON NET CASH

2021

2020

(in millions of euros)

Depreciation, amortisation and impairment losses (excluding current assets)

676

1,347

Profit/loss of associates

61

220

Net gains (or losses) on disposals

-

(2) (9)

Other

(87) 650

Income and expense with no impact on net cash

1,556

CHANGE IN WORKING CAPITAL

2021

2020

(in millions of euros)

Inventories

-

23

Trade and other receivables Trade and other payables Change in working capital

(245)

(18) 109

157

(88)

114

The negative change in working capital of 63 million euro is mainly due to the increase in trade receivables following the adjustment of payment and invoicing deadlines due to the health crisis, as well as the payment of supplier invoices.

13.2.2 Cash flows from investing activities

6

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)

Change in other financial assets is mainly explained by a loan granted by TAV group its stake in Saudi Arabia.

PURCHASE OF PROPERTY, PLANT & EQUIPMENT AND INTANGIBLE ASSETS

◆ real estate development : investments to develop property as well as cargo and aeronautical facilities maintenance; ◆ restructuring : Investments to reconfigure the arrangement of existing assets; ◆ security : Investments financed by the airport tax, mainly related to airport safety and security services; ◆ other .

The investments made by the Groupe ADP are classified within a nomenclature, composed of the following seven investment programs: ◆ renovation and quality : investments meant to renovate current property in order to reduce obsolescence or improving its quality, as well as investments in retail spaces; ◆ increases in capacity : investments to increase assets capacity; ◆ cost of studies and supervision of works (FEST) : design and work supervision costs for the production of an asset;

355

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