PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT
SELECTED FINANCIAL INFORMATION
INFORMATION ON THE COMPANY
REAL ESTATE ASSETS AND FACILITIES
REVIEW OF THE FINANCIAL POSITION AND INCOME
EQUITY AND CASH FLOWS
DESCRIPTION OF ACTIVITIES BY SEGMENT
Aviation Aviation activities include all of the business activities carried out by Groupe ADP as the operator of the three main airports in the Paris region (see paragraph in chapter 6, “Description of platforms”).
2017 1,813 1,055
2016 1,743 1,003
(in millions of euros)
+4.0% +5.2% +4.6% +1.6%
Airport fees Ancillary fees
230 487 40 551 272
Revenue from airport safety and security services
Operating income from ordinary activities
Determination of the regulated scope The Decree of 16 September 2005 relating to fees for services provided at airfields as amended by the Decree of 17 December 2009 with effect from 1 January 2011 defines the regulated scope for which fair compensation of the capital invested by the operator is assessed with respect to the weighted average cost of capital, i.e . the Return On Capital Employed (RCE or ROCE), calculated as the operating income of the regulatory scope less the standard corporate tax relating to the regulated asset basis (net accounting value of tangible and intangible assets relating to the regulatory scope, plus the working capital requirement for this scope). As at 31 December 2016, ROCE (return on capital employed, or retour sur capitaux employés) of regulated scope stood at 4.5%. Regulated 1 operating profit for 2016 stood at €342 million, €224.5 million after tax (tax rate of 34.43% in 2016) and the regulated asset base stood at €4,988 million as at 31 December 2016. 2017 data will be available in the 1 st half of 2018. Since 1 st January 2011, this scope of activity and services, called the “regulated scope”, includes all of the activities of Aéroports de Paris within the airports in the Paris region, with the exception of: ◆ activities financed by the airport security tax, i.e . mainly security services, prevention of animal hazards, and aircraft rescue and fire- fighting services (SSLIA) 2 ; ◆ retail businesses and services; ◆ land and real estate businesses not directly related to aviation activities or “real estate diversification” activities; ◆ management by Aéroports de Paris of noise reduction projects for local residents 3 ; ◆ ground-handling service activities falling within the competitive field 4 ; ◆ other activities engaged in by subsidiaries.
Profitability of the regulated scope (in millions of euros)
Regulated operating profit Regulated assets base 1
4,988 5,058 4.5% 3.8%
REGULATED OCE AFTER TAXES
1 Including subventions.
Fees Aéroports de Paris is bound by specifications that set out its obligations as a public service provider and the government authority’s control procedures for ensuring compliance with the same. This public service activity is also governed, with respect to fees, by the French Civil Aviation Code. Airport fees Airport fees are made up of the passenger fee, landing fee and parking fee, for which the pricing is regulated by the Economic Regulation Agreement (ERA): ◆ the passenger fee is based on the number of passengers boarded. They are due for all departing flights other than for passengers in direct transit (leaving on the same aeroplane with the same flight number), crew members working on the flight and children under two years of age. The fee varies according to the flight destination. A 40% reduction on the basic rate is applied to connecting passengers. Revenue from passenger fees stood at €653 million in 2017 compared with €619 million in 2016; ◆ the landing fee is charged for the use of the airport infrastructure and equipment required for landing, take-off and aircraft movements on the ground by aircraft of more than 6 tonnes (which includes nearly all commercial aircraft). They are calculated according to the certified maximum take-off weight of the aircraft and adjusted according to the aircraft’s noise-rating classification and the nocturnal or daytime landing timetable. Revenue from landing fees rose to €243 million in 2017 compared to €233 million in 2016;
1 EBITDA – Other incomes and expenses - Depreciation and Amortisation of fixed assets and operating provisions – Losses on transfer of assets – employee profit-sharing. Reconciliation with the Company financial statements is presented in Appendix A8 of the Economic Regulation Contract 2016-2020,
available at www.groupeadp.fr , in the Finances section under Regulation. 2 Please also refer to the paragraph in Chapter 6 entitled “Security”. 3 Please also refer to the paragraph in Chapter 17 “Environmental data”. 4 Please refer to the paragraph in Chapter 6 on “Ground-handling activities”.
AÉROPORTS DE PARIS REGISTRATION DOCUMENT 2017
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