Aéroports de Paris - 2019 Universal registration document

OPERATIONS WITH RELATED PARTIES

FINANCIAL INFORMATION ON THE ASSETS, FINANCIAL POSITION AND CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2019

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

ADDITIONAL INFORMATION ON THE SHARE CAPITAL AND PROVISIONS OF THE ARTICLES OF ASSOCIATION

MATERIAL CONTRACTS

The economic relationship between hedged items and hedging instruments qualified as hedge accounting according to IFRS 9 May be analysed as follows:

Hedged item

Hedging instrument

Maturity date

Nominal value

Maturity date

Nominal value

Hedging ratio

Rate

Type

Rate

Type

TAV Airports Bank loan

2028 EUR6M + margin 234 Interest rate swap CFH 2026

7.63% 231 5.75% 61 5.85% 61

99% 90% 90%

Bank loan Bank loan Bank loan Bank loan Bank loan

2031 2031

EUR6M +4,50% 68 Interest rate swap CFH EUR6M +4,50% 68 Interest rate swap CFH

2031 2031

2025 EUR6M +5,00% 43 Interest rate swap CFH 2025

5.32% 43 100% 5.17% 9 100% 6.03% 5 100%

2022 LBUSD6M + margin 2022 LBUSD6M + margin

9 Interest rate swap CFH 2022 5 Interest rate swap CFH 2022

AIG Bank loan 2023-2025 LBUSD6M + margin

214 Interest rate swap CFH 2023-2025 LBUSD6M + margin

215 100%

There was no ineffectiveness during 2019 in relation to the interest rate swaps.

EXCHANGE RISKS

In order to reduce exposure to exchange fluctuations, the Group has a hedging policy consisting of: ¯ implementing derivative instruments; ¯ neutralising exchange rate risk as far as possible by reducing the balance of revenue and expense in these currencies; ¯ if necessary making partial forward sales of dollars for residual balances.

Following the takeover of TAV Airports (see note 1.4), the Group is henceforth exposed to exchange risk. TAV Airports converts its financial statements in a currency other than its functional currency, therefore the main risk of change relates to the variations of the euro currency compared to the Turkish lira and American dollar. The currencies in which transactions are mainly denominated are euro, Turkish lira (TRY) and American dollar, as well as few currencies from the Persian Gulf liked to American dollar with a fixed parity, e.g. Sudanese rial, United Arab Emirates dirham and the Oman rial.

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The breakdown of financial assets and liabilities by currency is as follows:

As at Dec 31, 2019

Other currencies

Euro

TRY USD AED JOD

(in millions of euros)

Other non-current financial assets

682

505

18

152

6

- -

1

Contract assets Trade receivables Other receivables 1

3

-

-

-

1

2

609 282

485 252

17 12

22

12

42

31

6 11

1 1

3

8 7

Other current financial assets Cash and cash equivalents TOTAL FINANCIAL ASSETS

176

133

5

19

1,982

1,789

10

94

2

63

24 73

3,734 3,164 6,077 5,564

62

285 487

23

127

Non-current debt Contract liabilities

10

- -

- -

16

2

1

-

-

1

Trade payables

679

511

12

9 3

10

125

12 51

Other debts and other non-current liabilities 1

1,194 1,077

26

8

29

Current debt

1,362

1,321

3

38

-

-

-

TOTAL FINANCIAL LIABILITIES

9,314 8,474

51

537

18

154

80

1 Other receivables and other debts exclude all accounts which do not constitute, within the terms of IAS 32, contractual rights and obligations, such as tax and social security debts or receivables.

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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019