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
Relay@ADP Presentation
operations on 1 February 2016 and will operate over 35 points of sale for nine years, primarily in terminals 2D, 2E (hall K and hall L), 2F, 1 and 3 of Paris-Charles de Gaulle airport. Select Service Partner was retained after public consultation. Each partner holds 50% of the capital and has rights to 50% of the company’s earnings and reserves. EPIGO shares are inalienable for nine years, until December 2024. Moreover, the Articles of Association for Aéroports de Paris allow for each of the partners to exclude the other partner and force the sale of its shares in the case of violation of a clause in the Articles of Association, or the bankruptcy or reduction in the capital of the partner in question to below the legal minimum. In addition, Groupe ADP can exclude Select Service Partner should there be a change in its control or in the event of termination or expiry of all contracts drawn up with Aéroports de Paris setting out the terms of the Company’s presence within Paris-Charles de Gaulle airport. Groupe ADP and Select Service Partner have set up a joint, balanced management framework through several governance bodies: ◆ a chairmanship held by a company, SARL EPIGO Présidence, where the two joint managers are a representative of Select Service Partner, and a representative of Groupe ADP; ◆ a collective body known as the “Council”, which consists of four representatives for each partner, as well as the Chairmanship of EPIGO; ◆ an Executive Management team, whose role is to manage EPIGO from an operating standpoint. Strategy Through this joint company, Aéroports de Paris aims to further improve the reception and services provided to passengers, who will now enjoy a diversified and updated offering consisting of leading international brands and brands embodying the best of French gastronomy. At end 2019, EPIGO managed 38 restaurants over a total surface area of 4,700 m 2 throughout the terminals of Paris-Charles de Gaulle.
In August 2011, Groupe ADP and Lagardère Travel Retail created Relay@ ADP, a French simplified joint stock company (SAS) and joint venture dedicated to newsagent, bookshop, convenience and souvenir activities. Groupe ADP has a 49% holding in the company, as does Lagardère Travel Retail, while Société de Distribution Aéroportuaire has a 2% interest. The governance procedures for this company, and for excluding the joint partner, are comparable to those applicable to Société de Distribution Aéroportuaire. At the end of 2019, Relay@ADP managed 76 stores over a total area of 9,200 sq.m. across all terminals at Paris-Charles de Gaulle and Paris-Orly. Strategy The major strategic initiatives implemented by Relay@ADP include: ◆ the opening of large stores under the Relay@ADP brand, allowing the establishment of several areas of offer differentiation based around travellers’ needs; ◆ the diversification of its offering, in particular in relation to souvenirs of Paris (via the Air de Paris brand, which operates both as shops and display corners in Relay shops) and to improved catering. From the second quarter of 2019, following the enhanced governance of retail joint ventures, Relay@Paris will be fully consolidated in the group’s financial statements. Epigo Presentation In December 2015, Groupe ADP and Select Service Partner created EPIGO, a French simplified joint stock company (SAS) and joint venture to set up, operate and develop fast food outlets. The new company began
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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019
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