REVIEW OF THE FINANCIAL POSITION AND INCOME 09 ANALYSIS OF 2017 RESULTS
Media Aéroports de Paris 2 saw a decrease of 1.0% of its revenue, at €53 million, due to the negative base effect linked to the strong activity in 2016 related to the Euro football championship. Its EBITDA was down by 1.5%, at €8 million and its net result was up by 3.2%, at €2 million. Revenue from car parks stood at €171 million, down by 2.1%. Revenue from industrial services (the supply of electricity and water) was up slightly (+0.5%), at €134 million. Rental revenue (leasing of space within terminals) increased slightly by 0.5%, to €147 million. Other revenue saw an increase of 11.4%, to €42 million. EBITDA of the segment was up by 1.0%, at €533 million, due to the growth in revenue and to the control over expenses. The gross margin rate was stable (-0.1 point), at 55.9%. The share of profit from operating associates (Société de Distribution Aéroportuaire, Relay@ADP and EPIGO) was up by €2 million, at €3 million. Operating income from ordinary activities (including operating activities of associates) decreased by 1.2%, to €404 million.
Over 2017, revenue from Retail and services, that only includes Parisian activities, was up by 1.2%, at €953 million. Revenue from retail (rents received from airside and landside shops, bars and restaurants, banking and foreign exchange activities, and car rental companies, as well as revenue from advertising) was up by 2.2% in 2017, at €459 million, the favorable impact of the return of the most contributive passengers being partly offset by the negative effect of exchange rate during the 2 nd half of 2017: ◆ among this item, the rents from airside shops stood at €303 million, up by 1.6%, thanks to the good performance of the luxury activity, partly offset the negative effect of the roll-out of the plain packaging on tobacco sales. The sales per passenger 1 were stable (+0.4%), at €18.2; ◆ rents from landside shops increased by 5.4%, to €19 million; ◆ bars and restaurants posted a growth of 10.2%, at €42 million, linked partly to the full year effect of the roll-out of the EPIGO joint venture.
2017 250 208
(in millions of euros)
External revenue 1
+5.5% -16.1% +19.2% -19.6%
68 32 42
82 27 52
Other income and expenses (incl. capital gain linked to the cargo hub buildings) EBITDA (excluding capital gain linked to cargo hub buildings)
Share in associates and joint ventures from operating activities
Operating income from ordinary activities (including operating activities of associates)
+€57m +26.8pt +24.4pt
Operating income from ordinary activities/Revenue
1 Generated with third parties (outside the group).
Internal revenue decreased (-19.6%), to €42 million, due to the revision of internal rents in order to correspond to market prices, in order to improve the internal management of the group, with no impact on the group consolidated revenue.
Over 2017, Real estate revenue, that only includes Parisian activities, was down by 4.8%, at €250 million. External revenue 3 (€208 million) was down (-1.1%) due to the loss of some contracts in Paris-Orly.
1 Sales of airside shops divided by the number of departing passengers.. 2 Media Aéroports de Paris is now fully consolidated and no longer accounted for in associates. As a consequence, 2016 accounts were restated . 3 Generated with third parties (outside the group).
AÉROPORTS DE PARIS REGISTRATION DOCUMENT 2017
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