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

Therefore, based on the group’s estimates, together, the land reserves totalled buildable potential of approximately 1,631 million m 2 at the end of 2019: ◆ by 2025, development projects could concern around 420,000 m 2 of surface areas available for building; ◆ approximately 74% of the construction potential at end-2019 will still be available by 2025. These estimates for real estate developments by 2025 do not in any way constitute targets. They are insights into the Group’s medium-term vision, which supplement the targets of the Connect 2020 plan, which remain unchanged.

Land reserves available for building increased by two hectares at the end of 2019 and totalled 357 hectares, compared to 355 hectares in 2018, due primarily to exchanges of lots with the aviation activities. Land leased to third parties was located at Paris-Charles de Gaulle, Paris- Orly and Paris-Le Bourget airports as well as at civil airfields. More than 50% of the land leased to third parties is linked to airport activities at Paris-Charles de Gaulle airport, 10% at Paris-Orly airport, and 56% at Paris-Le Bourget and general aviation airfields. At 31 December 2019, the assets dedicated to real estate activities were valued at €3,320 million, of which €2,885 million in investment buildings as detailed in Note 6.3.2 of the Group’s consolidated accounts 1 . The assets include nearly €435 million in buildings occupied by Groupe ADP for its own use, the assets held by its equity-consolidated subsidiaries and assets restated according to IFRS standards under lease-financing contracts. The value of land reserves available for building (357 hectares) was €409 million at 31 December 2019. The value of land reserves available for building (357 hectares) was €409 million at 31 December 2019. The land reserves are covered by master development plans by neighbourhood which confirm the potential for development based on realistic development directions which reflect the group’s knowledge of the market, urban planning regulations, a realistic assessment of the build potential by airport and type of activity and an understanding of development costs, thereby ensuring the financial viability of the projects.

12% Hotel

Cargo 35%

Activities 25%

05

Tertiary 28%

The likely destinations of the projects by 2025 are as follows:

Orly

CDG LBG & AAG

Total

%

Land reserves reminder (ha) Building potential (‘000 m2) 1

151

162 601

44

357

806

223

1,631

100%

Projects signed/under construction at the end of 2019 (built-up area) 1 Projects identified up to the end of 2025 (‘000 m2) 1

54

142

25

221

14% 12% 74%

135 617

68

-

203

Building potential remaining (‘000 m2) 1

391

198

1,206

1 Built area.

Leased buildings Usable commercial space at the end of 2019 was 977,200 m 2 . The average occupancy rate was nearly 90% and the rate of financial vacancy was 94%. Leased surfaces break down as follows:

Total

Aeronautical

Diversification

(in thousands of m 2 )

Rented places Cargo buildings

488 198 232

489

977 205 232

6 0

Maintenance hangars

Business and logistics premises

17

93

110

Offices

24

156 155

180 162

Internal rentals Other buildings

7

10

79

89

1 Built area.

73

AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019