RESEARCH AND DEVELOPMENT, PATENTS AND LICENCES
INFORMATION CONCERNING TRENDS
ADMINISTRATION AND EXECUTIVE MANAGEMENT BODIES
COMPENSATION AND BENEFITS OF CORPORATE OFFICERS
FUNCTIONING OF THE BOARD OF DIRECTORS AND MANAGEMENT BODIES
SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY INFORMATION
OPERATIONS WITH RELATED PARTIES
FINANCIAL INFORMATION ON ASSETS, FINANCIAL POSITION AND RESULTS
13.2 2018 GROUP FORECASTS
Traffic growth assumption for Paris Aéroport between 2.5% and 3.5% in 2018 compared to 2017 Traffic growth assumption for TAV Airports between +10% and +12% in 2018 compared to 2017 Increase of between 10% and 15% in 2018 compared to 2017, with the full-year effect of the full consolidation of TAV Airports and excluding the effects of any change in scope that may occur in 2018 2018 consolidated EBITDA excluding the full consolidation of TAV Airports: increase of between 2.5% and 3.5% in 2018 compared to 2017 Reminder of the TAV Airports EBITDA 2 ’s guidance: increase of between 5% and 7% in 2018 compared to 2017
Traffic growth assumption
Consolidated EBITDA 1
Dividend for 2018 Maintained pay-out of 60% of NRAG 2018 1 TAV Airports’ EBITDA guidance, underlying Group’s EBITDA guidance, is built on the following exchange rate assumption: EUR/TRY = 4.86 and EUR/USD = 1.22. 2 EBITDA reported by TAV Airports includes the Ankara guaranteed pax revenue and the equity pick-up.
The achievement of these forecasts are subject to the assumption of traffic growth in Paris Aéroport and the good run of TAV Airports’ strategy.
13.3 STATUTORY AUDITORS’ REPORT ON THE PROFIT FORECASTS FOR THE YEAR ENDED DECEMBER 31, 2018
This is a free translation into English of the statutory auditors’ report issued in the French language and is provided solely for the convenience of English-speaking users. This report should be read in conjunction with and is construed in accordance with French law and professional standards applicable in France. To the Chairman and Chief Executive Officer, In our capacity as statutory auditors of your Company and in accordance with Commission Regulation (EC) no. 809/2004, we hereby report to you on the “consolidated EBITDA” forecast for Aéroports de Paris set out paragraph “Forecast of the Group for 2018” in chapter 13.2 ”Profit forecasts” of its Registration Document. It is your responsibility to compile the profit forecasts, together with the material assumptions upon which they are based, in accordance with the requirements of Commission Regulation (EC) no. 809/2004 and ESMA’s recommendations on profit forecasts. It is our responsibility to express our conclusion, based on our work, in accordance with Annex I, paragraph 13.2 of Commission Regulation (EC) no. 809/2004, as to the proper compilation of these forecasts. We performed the work that we deemed necessary in accordance with professional guidance issued by the French institute of Statutory Auditors (Compagnie nationale des commissaires aux comptes). Our work included an assessment of the procedures undertaken by management to compile the profit forecasts as well as the implementation of procedures
to ensure that the accounting policies used are consistent with the policies applied by Aéroports de Paris for the preparation of the historical financial information. Our work also included gathering information and explanations that we deemed necessary in order to obtain reasonable assurance that the profit forecasts have been properly compiled on the basis stated. Since profit forecasts, by nature, are uncertain and may differ significantly from actual results, we do not express an opinion as to whether the actual results reported will correspond to those shown in the profit forecasts. In our opinion: ◆ these profit forecasts have been properly compiled on the basis stated; and ◆ that basis of accounting used for the profit forecasts is consistent with the accounting policies adopted by Aéroports de Paris. This report is issued solely for the purpose of: ◆ filing the Registration Document with French financial markets authority (Autorité des Marchés Financiers - AMF), ◆ and, if needed, the admission to trading on a regulated market, and/or a public offer, of shares or debt securities with aminimumdenomination of €100,000 of Aéroports de Paris in France and in other EUmember states in which the prospectus, including this registration document, approved by the AMF is notified; and cannot not be used for any other purpose.
Neuilly-sur-Seine and Paris-La Défense, March 30, 2018 The Statutory Auditors French original signed by
DELOITTE & ASSOCIES
ERNST & YOUNG Audit
Alban de Claverie
AÉROPORTS DE PARIS REGISTRATION DOCUMENT 2017
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