Aéroport de Paris - 2018 Registration document

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2018

RESEARCH AND DEVELOPMENT, TRADEMARKS PATENTS AND LICENCES

INFORMATION CONCERNING TRENDS

PROFIT FORECASTS

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

MAIN SHAREHOLDERS

OPERATIONS WITH RELATED PARTIES

11.3 Tax reconciliation The reconciliation between the theoretical income tax based on the tax rate applicable in France and the effective income tax is as follows:

2018 695 (81) 335 949

2017

(in millions of euros)

Net income after tax

614

Share of profit or loss from associates and joint ventures1

(79) 260 795

Income tax expense

Income before tax and profit/loss of associates

Theoretical tax rate applicable in France

34.43%

34.43%

Theoretical tax expense

(327)

(274)

Impact on theoretical tax of: ® Different rate on foreign taxable income and payment at source (i)

21

12

® Extraordinary contribution of 15% on the tax rate

- -

(32)

® Income receivable related to the cancellation of the 3% dividend contribution ® Previously unrecognized tax loss carryforwards used in the period (i)

24

(7)

-

® Additional tax on dividends

-

(6)

® Tax losses incurred in the period for which no deferred tax asset was recognized (i)

(19)

(1) 26

® Evolution of tax rates

6

® Changes in unrecognized temporary differences ® Non-deductible expenses and non-taxable revenue

1

1

(19)

(16)

® Tax credits

4 5

5

® Adjustments for prior periods EFFECTIVE TAX EXPENSE

1

(335) 35.31%

(260)

Effective tax rate

32.65%

1 The variation in the effect of different rates on foreign taxable income, in previously unrecognized tax loss carryforwards used in the period and in tax losses incurred in the period for which no deferred tax asset was recognized is mainly due to TAV Airports.

11.4 Deferred tax assets and liabilities broken down by category Deferred tax assets and liabilities are presented on the balance sheet as follows:

As at 31 Dec., 2018

As at 31 Dec., 2017

(in millions of euros)

In respect of deductible temporary differences ® Employee benefit obligation

126

123

20

® Amortisation of fees for the study and overseeing of works

9

12

® Provisions and accrued liabilities

19

23 43

® Other

39

For taxable temporary differences ® Accelerated tax depreciation and other regulated provisions

(317)

(319)

® Finance leases

(5) (8)

(6) (8)

® Revaluation reserves

® Purchase Price Allocation

(187) (58) (382)

(175)

® Other

(61)

NET DEFERRED TAX ASSETS (LIABILITIES)

(368)

237

AÉROPORTS DE PARIS ® REGISTRATION DOCUMENT 2018