FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS 20 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2017
Over 2017, consolidated revenue of the Group stands at €3,617 million, up by €670 million mainly thanks to: ◆ the full consolidation of TAV Airports for the 2 nd semester, that contributes to revenue up to €616 million. Excluding full consolidation of TAV Airports, Groupe ADP revenue would have grown by 1.8%, to €3,001 million; ◆ the growth in airport fees (+5.2%, at €1,055 million), driven by passenger traffic dynamics (+4.5% in Paris Aéroport) combined with the increase in tariffs since 1 April 2017 (+0.97%); ◆ the strong increase in revenue from ancillary fees (+4.6%, at €230 million), in particular from the fee related to the provision of de-icing facilities, up by 29.1%, at €24 million and PRM fees, up by 9.5%, at €60 million.
This favorable items are partially offset by: ◆ the decrease of revenue in international activities, excluding TAV Airports full consolidation (-32.0%, at €66 million) linked to a slowdown in activity and a decrease in backlog in the Middle-East for ADP Ingénierie as well as a revaluation of ADP International’s backlog; ◆ and the change in consolidation method of Hub Safe over the 4 th quarter, following the disposal of 80% of the stake in the entity. For the 4 th quarter of 2017, Hub Safe’s results will be accounted for as share of profit of non-operating associates. Over 2017, intersegment eliminations amounted to €298 million. The breakdown of the Group’s revenue per major client is as follows:
(in millions of euros)
Revenue Air France
Turkish Airlines Other airlines TOTAL AIRLINES
Direction Générale de l’Aviation Civile Société de Distribution Aéroportuaire
504 273 144 888
TOTAL OTHER CUSTOMERS
4.3 Other current operating income
Other current operating income mainly includes indemnities, operating subsidies and the share of investment grants transferred to the result at the same pace as depreciation of subsidised assets.
The breakdown of other current operating income is as follows:
(in millions of euros)
Investment grants recognized in the income statement
Net gains on disposals
64 26 92
Other current operating income consists mainly of: ◆ the profit linked to the disposal of Hub Cargo buildings for €63 million (see note 2); ◆ indemnities recognized for €15 million both under the indemnification agreement with the Société du Grand Paris relating to the project to build a metro station in Paris-Orly and under the CDG Express project.
1 Groupe ADP traffic: +7.4% to 228 million passengers Paris Aéroport traffic: +4.5% to 101.5 million passengers
AÉROPORTS DE PARIS REGISTRATION DOCUMENT 2017
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