Aéroports de Paris - 2019 Universal registration document
REAL ESTATE ASSETS AND FACILITIES
INFORMATION ON THE COMPANY
PERSONS RESPONSIBLE FOR THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT
STATUTORY AUDITORS
RISK AND MANAGEMENT
BUSINESS OVERVIEW
ORGANISATION CHART
REVIEW OF THE FINANCIAL POSITION AND INCOME
EQUITY AND CASH FLOWS
INFORMATION CONCERNING TRENDS
4.2
CAPITAL EXPENDITURES
4.2.1 Investments made by the group over the last three financial years
2019
2018
2017
(in millions of euros)
Capacity investments
279
293 139 285 143
256
Restructuring investments Renovation and quality Real estate development
157
81
383
232 126
67
Security
108 119 167
84
55 95 34
Cost of studies and supervision of works (FEST)
103
04
Other
31
Tangible and intangible investments, of which
1,280 1 1,029
1,078
879 801
Investments made by ADP SA
936
Investments made by Aéroports de Paris subsidiaries
251
142
78
1 Including the recognition of an intagible asset linked to the renegociation of the miminum payment to pay to the granter regarding the concession contracts of Monastir and Enfidha.
2019 was impacted by tangible and intangible investments amounting to €1,280 million for Groupe ADP including €1,029 million for the parent company (€936 million in 2018) and €251 million for subsidiaries (€142 million in 2018). Investments at Paris-Charles de Gaulle Airport mainly related to: ◆ renovation of terminal 2B and its junction with terminal 2D; ◆ construction of the junction of international satellites of terminal 1; ◆ purchase of standard 3 hold baggage screening equipment in line with European regulations (CDG); ◆ construction of a luggage sorter for connecting passengers beneath Hall M of CDG 2 (TBS4); ◆ redevelopment work on road access to CDG; ◆ refurbishment of hall L in terminal 2E; ◆ preparatory works for the construction of CDG Express; ◆ extension of Delta and Québec taxiways to the north of terminal 1; ◆ design costs linked to the construction project for terminal 4; ◆ redesign of hall L retail areas in terminal 2E; ◆ improvement of signposting for passenger pathways; ◆ installation of Visual Docking Guidance Systems and information screens (“timers”) for pilots and runway personnel; ◆ extension of India aprons at CDG; ◆ creation of an exclusive Air France lounge in terminal 2F; ◆ renovation of the AB car park; ◆ work to move the Park and Ride (PR) car park to an upper level; ◆ redesign of the security check area in terminal 2E; ◆ reconfiguration of the TME luggage sorter in terminal 2E. Investments at Paris-Orly Airport mainly related to: ◆ renovation of runway 3;
◆ end of construction work on the junction between Orly 2 and Orly 4 (previously West terminal and South terminal); ◆ East baggage handling system compliance in Orly 4 (previously Orly South); ◆ preparatory work before the construction of the future Grand Paris station; ◆ renewal of waterproofing and strengthening of bridge no. 2 under runway 3; ◆ creation of a new retail area in the international boarding lounge in Orly 4 (previously Orly South); ◆ creation of a pedestrian walkway between Orly 3 (junction building) and Orly 4 (previously Orly South); ◆ redevelopment of the aeronautical traffic routes to the south of Orly 4 (previously Orly South); ◆ restructuring of Hall E at Orly 4 (previously Hall B at Orly South); ◆ reconfiguration of security controls for international departures at Orly 4 (previously Orly South) and the reconstruction of the associated retail area. In 2019, TAV Airports’ investments stood at €145 million, and concerned mainly: ◆ the recognition of an intangible asset due to the renegotiation of the minimum lease payments payable to the grantor for the Monastir and Enfidha concession contracts; ◆ investments by BTA for its international contracts; ◆ investments for other Turkish airports. Aéroports de Paris SA also made significant investments in its support functions and projects common to both platforms in 2019, mainly in IT. Aéroports de Paris fully funds its investment programme, primarily through operating cash flow, and medium- to long-term debt as needed.
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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019
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