Aéroports de Paris - 2019 Universal registration document

REVIEW OF THE FINANCIAL POSITION AND INCOME 08 2019 KEY FIGURES

8.1

2019 KEY FIGURES

2019 consolidated accounts

2019 1 2 4,700 1,772 37.7% 1,094 23.3% 1,081 -206

2018 1 2 4,007 1,680 41.9%

2019/2018 1 2

(in millions of euros)

Revenue EBITDA

+17.3% +5.5% -4.2pts -4.7pts -3.5% -11.2% -46.1% -3.5% -2.6%

EBITDA / Revenue

Operating income from ordinary activities

1,123

Operating income from ordinary activities / Revenue

28.0%

Operating income Financial result

1,121 -232

Net income from discontinued activities 2 Net income attributable to the Group

55

103 610

588

1 The figures take into account the full consolidation of Société de Distribution Aéroportuaire and of Relay@ADP results since April 2019, and AIG results since April 2018. 2 Revenue and operating expenses of TAV Istanbul for 2018 and 2019 are presented on a separate line on the income statement as “net income from discontinued activities”, in accordance with the IFRS 5 standard. Therefore, consolidated revenue, EBITDA and operating income of the Group don’t take into account the activity of Istanbul Atatürk airport in 2018 and 2019 anymore. Furthermore, the line “net income from discontinued activities” includes as well the profit following the announcement by Turkish authorities of the compensation due to TAV Airports for the early closure of Atatürk airport, after taxes and the impact of corresponding assets disposal (for €31M before elimination of non-controlling interests)(see the press release from 26 December 2019).

The application of IFRS 16 "Leases" with effect from 1 January 2019 had the following impacts on the income statement: ◆ depreciation of rights of use of €11 million;

◆ growth in group EBITDA of €14 million (cancellation of rents previously included under "external services and expenses"); ◆ financial expenses of €5 million.

8.2

ANALYSIS OF 2019 RESULTS

Revenue

2019 1 2 4,700

2018 1 2 4,007 1,890 1,000

2019/2018 1 2

(in millions of euros)

Revenue Aviation

+17.3%

1,929 1,505

+2.1%

Retail and services

N/A N/A N/A

of which Société de Distribution Aéroportuaire

628

- -

of which Relay@ADP

78

Real estate

274

265 941 695 175 156 -245

+3.3% +14.9%

International and airport developments

1,081 746 250 168 -257

of which TAV Airports

+7.5%

of which AIG

+43.2%

Other activities

+7.9% +5.1%

Inter-sector eliminations

1 The figures take into account the full consolidation of Société de Distribution Aéroportuaire and of Relay@ADP results since April 2019, and AIG results since April 2018. 2 Revenue and operating expenses of TAV Istanbul for 2018 and 2019 are presented on a separate line on the income statement as “net income from discontinued activities”, in accordance with the IFRS 5 standard. Therefore, consolidated revenue, EBITDA and operating income of the Group don’t take into account the activity of Istanbul Atatürk airport in 2018 and 2019 anymore. Furthermore, the line “net income from discontinued activities” includes as well the profit following the announcement by Turkish authorities of the compensation due to TAV Airports for the early closure of Atatürk airport, after taxes and the impact of corresponding assets disposal (for €31M before elimination of non-controlling interests)(see the press release from 26 December 2019).

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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019