ADP_REGISTRATION_DOCUMENT_2017

ORGANISATION CHART

BUSINESS OVERVIEW

PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT

STATUTORY AUDITORS

SELECTED FINANCIAL INFORMATION

RISK FACTORS

INFORMATION ON THE COMPANY

REAL ESTATE ASSETS AND FACILITIES

REVIEW OF THE FINANCIAL POSITION AND INCOME

EQUITY AND CASH FLOWS

Breakdown of revenue

2017 953 459

2016 941 449

2017/2016

(in millions of euros)

Revenue

+1.2% +2.2%

Retail activities

Car parks and access roads Industrial services revenue

171

175 133 146

-2.1%

134 147

+0.5% +0.5% +11.4%

Rental income Other income

42

38

Rental income from retail activities

2017 459 303

2016 449

2017/2016

(in millions of euros)

Retail (rents) Airside shops Landside shops

+2.2% +1.6% +5.4% +10.2% -0.8% +1.3% +2.1% +0.2%

299

19

18

Bars and restaurants

42 50

39 50

Advertising

Cash and foreign exchange

19 14

19 14

06

Car rental

Other

11

11

The retail activities carried out in landside areas are located before security check-points (customs, border police, security checks) and anyone can make purchases there. Retail activities carried out in airside areas are located after the security check-points. Airside includes part of the space called the “Schengen Area”, which no longer involves border police controls, and the “International Area”, where passengers on international flights to all countries outside the European Union, or to French overseas territories, can purchase duty free products. Rental income from retail operations is based on a percentage of revenue from the points of sale in the terminals, including joint ventures. AIRSIDE AND LANDSIDE SHOPS The proposed range of shops within Aéroports de Paris’ terminals falls into two broad categories: ◆ strategic activities which embody the positioning as “The ultimate Parisian shopping & dining experience” and which represent the areas with the best returns 1 : Beauty (perfumes and cosmetics), Fashion & Accessories and Art of Living (gastronomy, confectionery, wines and

spirits). Aéroports de Paris has chosen to operate these businesses through Société de Distribution Aéroportuaire 2 , which it co-owns with Lagardère Duty Free (a company of the Lagardère Group), and which operates the Beauty, Alcohol and Tobacco activities as well as part of the Gourmet Food and Fashion & Accessories business; ◆ leisure and convenience activities: Newsagents, Bookshops, Photo- Video-Sound, Souvenirs, Gifts, Toys and Pharmacies. A joint venture, Relay@ADP, covering part of this scope has been in existence since 4 August 2011, and runs the Newsagents, Bookshops, Convenience and Souvenirs activities. The company is 49%-owned by Aéroports de Paris, 49% by LagardèreTravel Retail, and 2% by Société de Distribution Aéroportuaire. Groupe ADP uses a revenue per passenger indicator (Sales/Pax) to better differentiate retail performance as reflected in the revenue from the airside shops, and the performance resulting from the airport manager’s commercial negotiations, as reflected in the commercial fees. It is calculated as the total sales of airside shops divided by the number of departing passengers (50.7 million passengers at 31 December 2017).

2017 33.0

2016

2017/2016

Sales/Pax (in euros)

Duty Free zone Duty Paid zone

33.3

-0.8% -0.4% +0.4%

7.1

7.1

TOTAL

18.2

18.2

BARS AND RESTAURANTS Aéroports de Paris receives income from the operators of bars and restaurants, essentially based on the revenue from the business in question. For Aéroports de Paris, revenue from retail activities is therefore closely linked to the gross revenue received by these operators.

Until 2015, the bars and restaurants were mainly operated by third parties, although Relay@ADP opened a first restaurant unit under the Kayser brand in December 2012. As of 1 February 2016, a joint venture, EPIGO, 50%-owned by Aéroports de Paris and 50%-owned by Select Services Partner (SSP) became the operator for fast food in a number of terminals at Paris-Charles de Gaulle. At Paris-Orly, the bars and restaurant business is managed by several operators.

1 Measurement indicator calculated by dividing the revenue earned by shops by the surface occupied in sq.m. 2 Activity described in the paragraph Joint-ventures activities.

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AÉROPORTS DE PARIS  REGISTRATION DOCUMENT 2017