Aéroports de Paris - 2019 Universal registration document
REAL ESTATE ASSETS AND FACILITIES
BUSINESS OVERVIEW
PERSONS RESPONSIBLE FOR THE UNIVERSAL REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT
STATUTORY AUDITORS
RISK AND MANAGEMENT
INFORMATION ON THE COMPANY
ORGANISATION CHART
REVIEW OF THE FINANCIAL POSITION AND INCOME
EQUITY AND CASH FLOWS
INFORMATION CONCERNING TRENDS
◆ Lognes-Émerainville, covering 87 hectares; ◆ Persan-Beaumont, covering 139 hectares; ◆ Saint-Cyr-l’École, covering 75 hectares.
Groupe ADP also pays close attention to the integration of aviation into the urban fabric. 2019 saw an experiment on restricting the use of the Toussus-le-Noble airport on weekends based on the CALIPSO ranking, which classifies light aircraft airports based on their noise performance. The airport was also home to the 1 st electric aircraft. A project promoted by the Fédération Française de l’Aéronautique, the aircraft enjoyed major visibility during flight demonstrations at the 2019 Paris Air Show.
In addition, Groupe ADP manages the Issy-les-Moulineaux heliport. In 2019, around €5.0 million were invested for the renovation of the infrastructures and the buildings of Civil airfields for general aviation.
5.4
DESCRIPTION OF ACTIVITIES BY SEGMENT
Aviation activities - Parisian platforms Aviation activities include all of the business activities carried out by Groupe ADP as the operator of the three main airports in the Paris region (see paragraph in Chapter 5, “Description of platforms”).
2019 1929 1160
2018 1890 1115 695 254 165 239 499
2019/2018
(in million of euros)
05
Revenue
+2.1% +4.1% +4.5% +3.0% +4.1% +4.9% -3.3% -4.3% +1.4% -8.0%
Airport fees
Passenger fees Landing fees Parking fees Ancillary fees
726 262
172
250 482
Revenue from airport safety and security services
Other income
37 611
38
EBITDA
603 307
Operating income from ordinary activities
283
Determination of the regulated scope In accordance with Article L. 6325-1 of the French Transport Code, the amount of fees takes into account the return on capital employed for a scope of activities stipulated by regulation for each airport, assessed based on the weighted average cost of capital estimated using the financial assets valuation model, available market data and parameters considered for companies engaged in comparable activities; This scope of activities, called the regulated scope, is now defined by the decree of 16 September 2005 relating to fees for services rendered in airports. The performance of the regulated scope is assessed by comparing the weighted average cost of capital to the return on capital employed (RCE or ROCE), calculated as the operating income of the regulated scope less the standard corporate tax relating to the regulated asset basis (net accounting value of tangible and intangible assets relating to the regulated scope, plus the working capital requirement for this scope). As of 31 December 2019, the ROCE of the regulated scope was 5.27%. Regulated operating profit stood at €467 million, €300 million after
tax (tax rate of 34.43% in 2019) and the regulated asset base stood at €5,693 million as at 31 December 2019. Since 1 January 2011, the regulated scope includes all the activities of Aéroports de Paris within the airports in the Paris region, with the exception of: ◆ activities financed by the airport security tax, i.e. mainly security services, prevention of animal hazards, and aircraft rescue and fire- fighting services (SSLIA) 1 ; ◆ retail businesses and services; ◆ land and real estate businesses not directly related to aviation activities or “real estate diversification” activities; ◆ management by Aéroports de Paris of noise reduction projects for local residents 2 ; ◆ ground-handling service activities falling within the competitive field; ◆ other activities unrelated to the activity of the Paris region airports.
1 See also the paragraph on “Security” in section 5.4. 2 See also the paragraph on “Environmental Reporting” in Chapter 15.
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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019
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