2016 Investor Toolbox
Updated July 2016
TABLE OF CONTENTS
GROUP PRESENTATION
Paris Aéroport, high potentiel assets
2
A resilient business model
14
2020 Strategy
18
2016-2020 Economic Regulation Agreement
25
FINANCIAL RESULTS
H1 2016
32
FOCUS ON OUR 5 ACTIVITIES
Aviation
44
Retail & Services
51
Real Estate
63
International and Airports Development
72
Other Activities
79
QUALITY OF SERVICE & CORPORATE SOCIAL RESPONSIBILITY
82
APPENDICES
89
IR TEAM
91
Toolbox 2016 |1
01
PARIS AEROPORT,
HIGH POTENTIAL ASSETS
PARIS
AEROPORT
PARIS AIRPORT SYSTEM IS THE ONLY ONE OF ITS KIND
IN EUROPE
PARIS-LE BOURGET

Largest business airport in
Europe

Industrial and aeronautical
area

Convention centre
PARIS-ORLY

Europe's 13th busiest airport in
terms of passenger numbers

3 runways

Close to Paris - large
catchment area

Rapid turnaround of mediumhaul and particularly low-cost
flights
PARIS-CHARLES
DE GAULLE

Europe's 2nd busiest airport,
9th busiest in the world in terms
of passenger numbers

2nd busiest airport in Europe for
cargo and mail handling

4 runways, 2 independent
parallel pairs

Skyteam hub for international
and connecting traffic

FEDEX's cargo hub
Toolbox 2016 |3
GROUPE ADP HAS STRONG ASSETS TO FACE COMPETITION
… AND CATCH GLOBAL GROWTH THANKS TO ITS POTENTIAL
PARIS
AEROPORT

No runway constraint, with a unique system in Europe of 2 sets
of independent parallell runways

Terminal capacity optimisation and potential
A privileged geographic
position

Paris as a major touristic destination

Development of CDG Express to connect to Paris in 20 min
Value-creating business
model

Ajusted till regulation model

Visibility thanks to 5-year 2016-2020 Economic Regulation Agreement

Provide the Ultimate Parisian Shopping Experience

Continuing improvement of the retail offering among terminals
and junction buildings

Development of our airport cities

381 ha of land reserves dedicated to real estate
First class infrastructure
Unique positioning in
Retail offering
Real Estate potential and
Land reserves
Toolbox 2016 |4
PARIS-CHARLES DE GAULLE AIRPORT MAP
PARIS
AEROPORT
Toolbox 2016 |5
DEVELOP THE POTENTIAL OF PARIS AÉROPORT
… THROUGH THE COMPETITIVENESS OF THE PARIS-CHARLES DE GAULLE HUB
PARIS
AEROPORT
PARIS-CHARLES DE GAULLE
International and connecting traffic
boosted by the competitive pricing
structure and incentives
A CONNECTION
INFRASTRUCTURE like no
other in Europe, with land
reserves and NO RUNWAY
RESTRICTIONS
Optimised capacity to accommodate
traffic until 2024 without a new terminal or
using land reserves
Invest in the competitiveness of the
hub, promoting the operational
reliability of airlines
Continue night flights and development of cargo
activities, for FEDEX in particular
Land reserves provide the opportunity for a T4
Toolbox 2016 |6
PARIS
AEROPORT
AN AIRPORT SYSTEM EQUIPPED WITH EFFICIENT RUNWAYS
… A PARALLEL RUNWAY SYSTEM AT PARIS-CDG UNLIKE ANY OTHER IN EUROPE
NO RUNWAY RESTRICTIONS IN PARIS
 4 runways at Paris-CDG
 Paris-CDG, a SYSTEM that is UNIQUE in Europe
 3 runways at Paris-Le Bourget
 2 independent parallel
pairs of runways (+1
runway at Bourget)
 3 runways à Paris-Orly
Comparison of the runway systems of other major hubs
Airport
Existing runways
ATM/h
(2014)
Paris-CDG
4
Paris-Orly
LondonHeathrow
Frankfurt
3
2 independent parallel
pairs of runways
not independent
2
independent
112
4
not independent
88
Madrid
4
independent
100
Amsterdam
Istanbul
Ataturk
6
not independent
100
3
not independent
58
120*
76
 120 movements per hour
 potential of 135
movements per hour
Comparison of the runway systems of other major hubs
Airport
Existing runways
Paris-CDG
4
Los Angeles
4
Atlanta
5
2 independent parallel
pairs of runways
2 independent parallel
pairs of runways
2 independent parallel
pairs of runways + 1
paralell runway
ATM/h
(2014)
120
176
238
Toolbox 2016 |7
PARIS
AEROPORT
CDG EXPRESS
PROGRESS WITH THE SCHEDULE FOR COMMISSIONING IN 2023
May
2014
Oct.
2014
Aug.
2015
Creation of
Feasibility
studies
Traffic and
infrastructure
studies
CDG
Express
Études
2016
2017
2018
Choice of the
operator
Start of works
2023
State
ADP
Commissioning of
CDG Express
SNCF Réseau
Confirmation of the legal
structure planned by the
French Council of State
Ordinance allowing the
establishment of the
project company ADP/
SNCF Réseau in charge of
the construction of the
infrastructure
To ease the passengers’ travel from
Paris-CDG to the centre of Paris
Toolbox 2016 |8
SPOTLIGHT ON THE PROPOSED TERMINAL 4
PARIS
AEROPORT
SUFFICIENT LAND RESERVES
Potential T4
A Terminal 4
would complement
the Paris-CDG hub and
allow increased traffic to
be accommodated post2024
1st phase
during
2021-2025 ERA
Toolbox 2016 |9
PARIS-ORLY AIRPORT MAP
PARIS
AEROPORT
Toolbox 2016 |10
PARIS
AEROPORT
DEVELOP THE POTENTIAL OF PARIS AÉROPORT
… THROUGH THE INTERNATIONALISATION OF PARIS-ORLY
PARIS-ORLY
International traffic boosted by the
competitive pricing structure,
promoting higher load factor
An infrastructure
CLOSE TO PARIS,
EASY TO USE for airlines
and passengers alike
Incentives to reward high-performing
airlines, low-cost in particular
Capacity optimised and modernised
to accommodate this traffic
Ease of operation for airlines
Toolbox 2016 |11
PARIS
AEROPORT
PARIS-ORLY, A PROFOUND TRANSFORMATION
BETWEEN NOW AND 2020
PARIS-ORLY
International boarding lounge East Pier
2016
12 aircrafts stands
Increase the capacity of
Paris-Orly to accommodate
UP TO 32.5MPAX
Junction building
2019
Baggage handling
4 mixed aircraft stands
Plans for Paris-Orly with the One Roof Project
Toolbox 2016 |12
LAND RESERVES IN PARIS-ORLY
NUMEROUS AREAS FOR DIVERSIFICATION AND AERONAUTIC DEVELOPMENT
PARIS
AEROPORT
Toolbox 2016 |13
02
A RESILIENT BUSINESS MODEL
BUSINESS
MODEL
GROUPE ADP HAS A RESILIENT BUSINESS MODEL BASED
ON 5 COMPLEMENTARY ACTIVITIES…
Aéroports de Paris SA (parent company)(1)
Subsidiaries & Associates
International and
Airport
Developments(2)
Aviation
Retail & Services
Real Estate
Construction and
management of
Parisian airports
 3 major airports:
Paris-Charles de
Gaulle, Paris-Orly and
Paris-Le Bourget
 10 regional airfields
All commercial
activities
 Rents from shops
and B&R concessions
 Car parks
 Rentals for offices
and lounges within
terminals
 Industrial services
Real estate activities
outside terminals
 Aeronautical RE
with direct access to
runways
(maintenance
hangars, cargo)
 Diversification real
estate (offices, malls
and hotels)
Airport engineering
 ADPI (100%)
Airport management
 ADPM (100%)
 Schiphol Group
(8%)
 TAV Airports (38%)
Airport contruction
 TAV Construction
(49%)
Other Activities
Telecom
 Hub One (100%)
Security
 Hub Safe (100%)
Revenue
(3)
EBITDA
Op. Inc.
Ord. Act.
Revenue
EBITDA
Op. Inc.
Ord. Act.
Revenue
EBITDA
Op. Inc.
Ord. Act.
Revenue
EBITDA
Op. Inc.
Ord. Act.
Revenue
EBITDA
Op. Inc.
Ord. Act.
€1,735m
€433m
€139m
€917m
€552m
€468m
€265m
€170m
€115m
€96m
€-9m
€53m
€215m
€27m
€12m

Total Groupe ADP in 2015

Revenue: +4.5% to €2,916m - EBITDA: +6.8% to €1,184m
Operating income from ord. act.: +6.8% to €787m - Net result attributable to the Group: +6.9% to €430m
(1) Including
retail and real estate joint ventures
include TAV Airports (38%-owned), TAV Construction (49%) and Schiphol (8%) and are accounted for using the equity method
figures shown on this slide are FY 2014 restated figures
(2) Associates
(3) All
Toolbox 2016 |15
BUSINESS
MODEL
AN « ADJUSTED TILL » MODEL THAT CREATES VALUE ON BOTH SCOPES
VALUE DRIVERS
ON REGULATED SCOPE
Optimisation of value drivers

Growth in TRAFFIC

Increase in TARIFFS

Control over OPEX

Control over CAPEX
ON NON REGULATED SCOPE
Continued strategy of development
RETAIL

INCREASE & OPTIMISATION of retail spaces

REFINEMENT OF THE OFFERING
INTERNATIONAL DEVELOPMENT
COMPETENCES


Ability to use the combination
of Groupe ADP skills

Generate opportunities for
our expert subsidiaries
by broadening the product range

Taking advantage of positive PASSENGER
TRAFFIC-MIX
GROWTH

DIVERSIFICATION REAL ESTATE

Prepare the future with AIRPORT CITIES

In geographies where the
traffic perspective is faster
than in Parisian airports
CONTROL


Be in a position to bring
value creation and risks
control,
PROFITABILITY


Risk diversification

Generation of higher
investment return than
in Paris
Toolbox 2016 |16
BUSINESS
MODEL
… WITH A VALUE-CREATING REGULATION MODEL BASED ON ADJUSTED TILL
PROVIDING VISIBILITY OVER THE NEXT 5 YEARS (2016-2020)
Adjusted till model
Regulated scope
Non-regulated scope
Regulated ROCE
2020
800
700
600
Aviation
activities
 Aeronautical fees
(passenger, landing,
parking fees)
 Ancillary fees(1)
(check-in desks,
luggage sorting
systems, de-icing)
500
 Revenue from
airport safety and
security services
6,0%
706
Non-aviation
activities
 Industrial services
 Rental revenue
 Airport real estate
706
610
4,0%
514
400
300
442
379
200
CPI
+1.25%
100
0
 Commercial
5,0%
3,8%
CPI
+1.25%
CPI
+1.25%
3,0%
CPI
+1.25%
2,0%
1,0%
0,0%
2015
 Car parks
5,4%
WACC(2) = 5.4%
CPI
2016e
2017e
2018e
2019e
2020e
Regulated CAPEX 2016-2020 in €m 2015, pricing changes and regulated ROCE
activities
Regulated ROCE
 Diversification real
estate
Tariffs increase cap (CPI+1.00% CAGR2016-2020)
Regulated CAPEX
 Subsidiaries and
associates
 CONVERGENCE of regulated ROCE to the level of the WACC in 2020
at 5.4%
(1)

Excluding fees for disabled person (PHMR)
consistent with that outlined in the Public Consultation Document for the 2016-2020 ERA available at www.groupeadp.fr
(2) Methodology
Toolbox 2016 |17
03
2020 STRATEGY
A DYNAMIC SECTOR THANKS TO GLOBAL TRAFFIC GROWTH…
2020 STRATEGY
The global traffic in the world is expected to nearly double by 2030…
Bn PAX
6
1976-1991
+4.6% p.y
5
1992-2007
+4.6% p.y
2008-2013
+6% p.y
~6 billion
4
3 billion
3
2 billion
2
1 billion
1
0,5 billion
0
1945
1955
1965
1975
1985
1995
2005
2015
2025
Source : ADP / SIMCA-DIIO APG 2014 / OACI / Airbus / Boeing / Growth of Global GDP of 3 % between 2011 and 2031 (consensus OCDE, HIS)
Toolbox 2016 |19
…BUT AN INCREASINGLY COMPETITIVE LANDSCAPE FROM ALL OVER THE WORLD
2020 STRATEGY
An increasing competition from Middle East hubs on connecting traffic
mPAX
In connection
40
35
30
25
20
15
10
5
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Paris-CDG
Abu Dhabi
Istanbul
Doha
Amsterdam-Schiphol
Dubai
Fraport
Londres-Heathrow
Source : ADP / SIMCA-DIIO APG 2014 / OACI / Airbus / Boeing / Growth of Global GDP of 3 % between 2011 and 2031 (consensus OCDE, HIS)
Toolbox 2016 |20
CONNECT 2020 BY GROUPE ADP
OUR STRATEGIC PLAN TO FACE COMPETITION AND PROMOTE OUR AMBITION
2020 STRATEGY
ATTRACT
Working proactively on our
Quality of Service and Route
development to become the
number one choice for our
customers
OPTIMISE
A confirmed business model,
with an industrial strategy that
encourages local and sector
competitiveness and with a
strict financial discipline policy,
focused on productivity
EXPAND
A value-creating business model
that spans all of its activities,
strongly rooted in territories, with
a controlled international
development
BE A LEADING GROUP IN AIRPORT DESIGN,
CONSTRUCTION AND OPERATION
OPTIMISE
ATTRACT
EXPAND
Toolbox 2016 |21
2020 TARGETS OF GROUPE ADP
2020 STRATEGY
DRIVERS OF OUR DEVELOPMENT STRATEGY
Traffic growth assumption: +2.5% CAGR2016-2020
Convergence of regulated ROCE(1)
to the WACC(2)
5.4% in 2020e
Cost cutting plan
Limit the growth in parent-company
operating expenses to a level below or
equal to 2.2% in average per annum between 2015 and 2020
RETAIL
Revenue per passenger of €23 on a fullyear basis after delivery of the 2016-2020e
projects
REAL ESTATE
Growth in external rents (excluding
reinvoicing and indexation) ranging from
10% to 15% between 2014 and 2020e
QUALITY OF SERVICE
Overall ACI/ASQ(4) rating of 4 in 2020e

+30 to +40% growth

in consolidated EBITDA(3)
between 2014 and 2020e
(1) Return
on capital employed calculated as the ratio of after-tax operating income to the Regulated Asset Base
average cost of capital
to be completed annually by an annual forecast
Airport Quality of service indicator (Airport Service Quality) made by Airport Council International
(2)Weighted
(3)Target
(4)
Toolbox 2016 |22
AN OPTIMISED AND SUSTAINED CAPEX PROGRAMME
OF €4.6
BILLION(1)
TO BACK OUR STRATEGY
Regulated CAPEX:
€3.0 billion
CAPEX
€m 2015
706
2020 STRATEGY
Non-regulated CAPEX:
€0.9 billion

Retail(2) and other non
regulated

Diversification
Real Estate
706
Security CAPEX:
€0.7 billion

Security equipment
Standard 3
610
514
442
262
212 213
198
158
74
93
104
105
2016e
2017e
137
53
147
31 108
159
116
2018e
2019e
121 121
30
91
2020e
(1) ADP
(2)
SA (mother company), excluding subsidiaries and financial investments. CAPEX breakdown could be revised if necessary.
Including Retail works CAPEX estimated at €198m over 2016-2020
Toolbox 2016 |23
CAPITAL ALLOCATION OF GROUPE ADP
MODERATE DEBT AND AN ASSUMPTION OF A DIVIDEND DISTRIBUTION POLICY AT 60%
Estimated change
of the Group net debt
in line with our ambition to
KEEP OUR S&P RATING
Capex FINANCING for 2016-2020
5.3
€bn
current

€3.0 billion on the regulated scope

€1.6 billion on security and non-regulated scope

Financial investments and subsidiaries (undisclosed)
5.0
Assumption of a 60% PAY OUT dividend policy until
2020
2.7
2015
2020 STRATEGY
Colonne1 Colonne2 Colonne3 Colonne4


60% of net result attributable to the Group

Payment of interim dividends
2020e
A+ Stable outlook maintained

for our S&P rating
Toolbox 2016 |24
04
2016-2020 ECONOMIC
REGULATION AGREEMENT
ACHIEVEMENT OF 2011-2015 TARGET FOR REGULATED ROCE AT 3.8%
2011-2015 ERA
THANKS TO OUR FINANCIAL DISCIPLINE
/
2011-2015 REGULATED ROCE
4,0%
3,8%
In €m
2015
2014
Regulated operating profit(2)
309
262
Regulated assets base
5,090
5,130
Regulated ROCE from the
regulated scope
3.8 %
3.2 %
2015 TARGET: 3.8 %(1)
3,8%
3,6%
3,4%
3,4%
3,2%
3,2%
3,0%
3,0%
2,9%
2,8%
2011
2012
ROCE
Régulé
Regulated
ROCE
2013
2014
2015
Stable tax rate

Applicable tax rate: 38 % in 2015
2015 targets revised in 2012 by press release dated 20 December 2012 entitled “2012 and 2015 targets” and by press release dated 19 January 2015 entitled
“Refined 2015 target of ROCE1 of the regulated scope”, available on finance.groupeadp.fr
(2) GOS - other current income and expenses - amortisation and depreciation of fixed assets and operating provisions - capital losses on the disposal of assets employee profit sharing
(1)
Toolbox 2016 |26
2016-2020 ERA RELIES UPON A BALANCED EQUATION,
CENTER OF OUR INDUSTRIAL STRATEGY
REGULATION
2020 target
ROCE of regulated
scope = WACC
5.4%
TRAFFIC
ASSUMPTION
TARIFFS STRUCTURE
AND INCENTIVES
CAGR2016-2020 = +2.5%
OPERATIONAL NEEDS
International traffic
CAGR2016-2020 = +3.6%
QUALITY OF SERVICE
REGULATORY CHANGES
PRICE EFFORTS FOR
AIRLINES
ECONOMIC ENVIRONMENT
CAGR2016-2020 =
CPI+ 1.0%
CONTROL OVER
REGULATED OPEX
REGULATED CAPEX
€3.0bn
OPEX / PAX 2020 :
-8% vs 2015e
(1) Excluding
fees for disabled person (PHMR)
Toolbox 2016 |27
NEW PRICING STRUCTURE TO ENCOURAGE GROWTH
IN INTERNATIONAL TRAFFIC AND WIDE-BODIED AIRCRAFT
REGULATION
NEW TARIFFS STRUCTURE EFFECTIVE 1st APRIL 2016
Proposed change to the landing fee
Improve our competitiveness on long-haul pricing
Reduction in
the variable
element
Favourable to
wide-bodied
aircraft
Reduction in passenger fees and the variable element of
the landing fee
Enhance the efficient use of slots by favouring high
load factors
Increase in the fixed element of the landing fee
Attract based aircraft
Enhance slot reliability through an
increase in the fixed element
Overnight parking exemption

ENCOURAGE INTERNATIONAL TRAFFIC 
through increased pricing competitiveness

Economic neutrality for ADP in 2016

Toolbox 2016 |28
INCENTIVES TO REWARD HIGH-PERFORMING AIRLINES
AND CONNECTING TRAFFIC
REGULATION
INCENTIVES IN ADDITION TO THE NEW TARIFFS STRUCTURE,
IN ORDER TO BOOST INTERNATIONAL TRAFFIC
Measure in favour of
INTERNATIONAL TRAFFIC
Measure in favour of
CONNECTING TRAFFIC
Measure in favour of the
RAPID TURNAROUND
of aircraft
30% reduction in the
passenger fee for rapidlygrowing traffic
No passenger fees for
growing connecting traffic
Reduction in the parking
fee for turnarounds <45 min

ATTRACT INTERNATIONAL AND CONNECTING TRAFFIC

REWARD HIGH-PERFORMING AIRLINES


Toolbox 2016 |29
COST CUTTING
CONTINUED FINANCIAL DISCIPLINE THANKS TO INCREASES IN PRODUCTIVITY
REMINDER OF 2016-2020 ERA COMMITMENT OF REDUCTION OF REGULATED OPEX/PAX BY 8% BETWEEN 2015 AND 2020
/
COMMITMENT OF REDUCTION OF REGULATED OPEX/PAX BY 8% BETWEEN 2015 AND 2020
Change
2015-2020
REGULATED OPEX(1) /PAX (€ constant)
12,5
+7%
Underlying trend driven by:
Growth in passenger traffic: +2.5%
CAGR2016-2020

11,6*
Check point ERA
End of 2018
11,3

Opening of major pieces of infrastructure

Indexation of subcontracting contracts

Employee policy maintained
10,7
-8%
10,8
2015
2016
2017
2018
2019
2020
Underlying trend over regulated OPEX/PAX, without increased
control (infrastructure, current employed policy maintained,
indexation of sub-contracting costs)
Range of change in regulated OPEX /PAX
After increased control
(1)RegulatedOPEX
(Staff costs (net of capitalised production) without profit share neither
employee-related liabilities + other opex (excluding tax other than income tax)
per passenger in € constant
* Pro forma – impact of NMG of -0,3cts linked to internal rebilling
Increased control over OPEX in order to meet
the commitment of reduction of regulated
OPEX/PAX by -8%, allowing:
-
To avoid the tariff penalty on OPEX of
2016-2020 ERA
To guarantee a regulated ROCE at 5.4 %
in 2020
Toolbox 2016 |30
AN AMBITIOUS AND SELECTIVE REGULATED CAPEX PROGRAMME
REGULATION
3 PRIORITIES FOR 2016-2020 ERA
1073
984
969
822
642
577
477
154
Maintenanc e
Maintenance
Mis e en conformité règlementaire
65
Optimisation des capac ités et logique One Roof
Compliance
with regulations
380
53
73
33
Amélioration des ac cès
Compétitivité du Hub
Optimisation of
Improving access
capacities and
One Roof initiative
2006-2010 ERA
€2.3 billion(1)
225 207
176
Competitiveness
of the Hub
2011-2015 ERA
€2.0 billion
Qualité de s ervice et développement durable
108 90,9
206
Développement immobilier aéronautique
Service quality
and sustainable
development
Aeronautical real
estate
development
46
Autres
Others
2016-2020 ERA
€3.0 billion
Comparison of 2006-2010, 2011-2015 and 2016-2020 ERA investment programmes (€ million 2015)
(1) €2.3
(2)
billion with a scope comparable to that of ERA 2, i.e. an adjusted till system
Compared to 2011-2015 ERA
Toolbox 2016 |31
05
FINANCIAL RESULTS
H1 2016
2016, STARTING YEAR OF OUR STRATEGIC PLAN, CONNECT 2020

Stable tariffs in 2016


Launch of large infrastructure
projects,
to be delivered during
the 2nd part of 2016-2020 ERA
H1 2016 results
Tariffs stability in 2016 as planned by ERA : CPI+0% (i.e. 0%),
before a moderate tariff increase between 2017 and 2020 at CPI +1.25%
Establishment of the new pricing structure, incentivising the development of
international and connecting traffic, and encouraging performing airlines
Under construction:
 Junction building in Paris-Orly: delivery planned for Q3 2019
 Luggage sorting system in terminal S3 in Paris -CDG: delivery planned for Q2 2018

To be launched:
 Terminal 1 junction building: delivery planned in 2019
 Terminals 2B-2D junction building: delivery planned for summer 2020
Company transformation
Retail, bars & restaurants
New brand universe

Intensification of company reorganisation

Launch of a cost-cutting plan

Further efforts on purchases

Roll-out of the joint venture Epigo for bars and restaurants

Offer standardisation in retail in our terminals

Re-dynamisation plan for retail, following the observed slowdown

Launch of the Group and Traveller brands, with strong commitments in quality
of service
Toolbox 2016 |33
2016 HALF YEAR HIGHLIGHTS
Traffic for 1st half of 2016 in
line with assumptions

Paris Aéroport traffic: +1.5% ; Groupe ADP traffic: +2.3%

Traffic in Paris-Orly: +4.9%, stable in Paris-CDG


Resistance of
retail and services


Impact of International
and Airport Dev. segment
Revision of
2016 net result forecast(1)
H1 2016 results
Dynamism of low costs airlines, offsetting the virtual stability of international
traffic
Negative impact of unfavourable exchange rate and traffic mix
Resilience of retail activities revenue (-2.3%) despite the weakness of airside
shops (sales per pax: - 8.3 % to €18.1)
Re-dynamisation plan for retail activities and launch of the loyalty programme
My Paris Aéroport

Traffic slowdown in TAV Airports and provisions for TAV Construction

2016 EBITDA in line with the forecast of a slight growth in 2016 compared to 2015(2)

Revised forecast:

Slight decrease of NRAG(3) in 2016 compared to 2015,
with a slight organic growth (i.e. growth excluding 1/ the capital gain of the current
headquarters disposal and 2/ the impact of the share of profit of associates from operating
activities of the International and Airport Development activities)
(1)Forecast
published in the press release dated 16 February 2016: [...] NRAG growth above or equal 10% in 2016 compared to 2015, including the impact of the
disposal of the current headquarter
(2) On the basis of traffic growth assumption of 2.3% in 2016 compared to 2015 in Paris Aéroport, EBITDA is expected to slightly increase compared to 2015
(3) Net Result Attributable to the Group
Toolbox 2016 |34
REVENUE IMPACTED BY THE SLOWDOWN IN RETAIL ACTIVITIES,
PARTIALLY OFFSET BY THE GOOD PERFORMANCE OF AVIATION FEES
Parent-company: Aéroports de Paris SA(1)
H1 2016 results
Subsidiaries and associates (2)
Group
Aviation
Retail & services
Real Estate
International and
airport development
Other activities
Revenue
€837m (- 0.8 %)
€446m (- 0.5 %)
€139m (+ 1.4 %)
€45m (+ 8.3 %)
€106m (+ 4.9 %)
€1,416m(3)
-0.5%
EBITDA
€185m (+ 9.9 %)
€249m (- 3.0 %)
€75m (- 2.5 %)
€2m (vs. -€4m)
€12m (- 0.8 %)
€523m
+ 2.7 %
€0m (vs. 4m)
- €1m (vs. €0m)
-€16m (vs. €29m)
€195m (- 10.1 %)(4)
€50m (- 8.7%)(4)
-€14m (vs. €25m)
Op.
Assoc.
Op. Inc.
from
Ord. Act.
€34m (vs. €11m)(4)
-€17m
vs. €33m
€5m (- 3.8 %)
Net result attributable to the Group
Unless otherwise stated, percentages compared 1st half of 2016 data to 1st half of 2015 equivalent data
(1) Including commercial and real-estate joint ventures
(2) Equity stakes include TAV Airports (38% stake), TAV Construction (49% stake) and Schiphol Group (8% stake) and are accounted for as associates
and the share of their profits is accounted as share of profit of associates from operating activities
(3) Including intersegment eliminations totalling €158m
(4) Change of the allocation keys following the review of the regulated assets base in January 2015 (see slide 90)
(5) The capital gain for the disposal of the current headquarter will be accounted for during the H2 2016
€270m
- €13.6 %
€127m
- €23.7 %(5)
Toolbox 2016 |35
LAUNCH OF A RE-DYNAMISATION PLAN FOR RETAIL
H1 2016 results
IN A CHALLENGING ENVIRONMENT FOR OUR SHOPS
/

Shops that better resist than in downtown
Paris, in a challenging European
environment
/
…requiring the launch of a
re-dynamisation plan in favour of retail
Challenging environment:

Decrease in international tourism in Paris


(-10% as at end March 2016)(1)
Measures reinforced towards
international customers
Negative effect of unfavourable exchange rate

Targeted action

(base 100 as at 1 January 2016)
Reinforcement of sales and special
offer on Core business and Fashion
105
100
95
90
01/2016

02/2016
03/2016
04/2016
$/€
05/2016
06/2016
07/2016

Yuan / €

Revenue from rents of airside shops: -6.6 %

Sales/PAX to €18.1, down by 8.3 %,

Speeding up shops openings

Duty Free: - 8.5 % to €34.0

Duty Paid: - 1.8 % to €7.0
33 openings during the 1st half of
2016

High potential of brands fashion and
beauty mobile shops

Roll-out of catering corners
Revenue from rents of landside shops: +18.6%
(1) Source:
OTCP
Toolbox 2016 |36
EBITDA IN LINE THANKS TO CONTROL OVER OPERATING EXPENSES
AND NON-RENEWABLE REVERSALS OF PROVISIONS
/
EBITDA FOR 1ST HALF OF 2016: +2.7%

H1 2016
H1 2016 /
H1 2015
Revenue
1,416
-0.5%
Operating expenses
(935)
+2.3%
In €m
Control over group operating expenses: +2.3%
 Control over ADP SA operating expenses : +1.2%
 Decrease in staff cost and purchases


of which :
Raw materials and
consumables used
(54)
-3.7%
External services
(337)
+5.3%
Staff costs
(358)
-0.4%
Taxes other than income taxes
(175)
+2.2%
(11)
+67.4%
Other incomes and expenses(1)
42
i.e. +42M€
EBITDA
523
+2.7%
36.9%
+1.1pt
Other operating expenses
EBITDA/revenue
H1 2016 results
Decrease in parent-company staff costs: -1.8%
Decrease in consumables used due to a mild
winter
 Exceptional and external events


Impact of the launch of the new brand universe
on external services: ~€6m
Increase in local taxes

Other incomes up by €42m, due to non-renewable
items amounting to around €37 million, consisting
of other products linked to resolution of old
litigations and reversals of provisions and of
depreciation of receivables.

Cost-cutting plan launched at the beginning of
2016
(1) Mainly
reversals, net of receivable depreciation for €20m, reversals of provisions, net of
depreciation for €10m and other operational incomes for €12m
Toolbox 2016 |37
COST CUTTING
LAUNCH OF A COST-CUTTING PLAN FOR THE PARENT COMPANY
CONSISTENT WITH THE COMMITMENT OF REDUCTION OF REGULATED OPEX/PAX BY 8% BETWEEN 2015 AND 2020
/
The growth in parent-company OPEX (both regulated and non regulated) should be
lower or equal to 2.2% CAGR2015-2020, to be consistent with 2016-2020 ERA commitment
Parent company OPEX (regulated + non regulated)(1)
(current €m)
CAGR2015-2020
+3.5%
 Continued control over OPEX
 Between 2012 and 2015, growth of parentcompany OPEX limited to 1.3% on average per
year thanks to the policy of financial discipline
≤+2.2%
 2020 target
1 555
2015
2016
2017
2018
2019
2020
Underlying trend over OPEX, without increased control
(infrastructure, current employed policy maintained,
indexation of sub-contracting costs)
Limit the growth in parent-company
operating expenses to a level below or
equal to 2.2%
in average per annum between 2015 and 2020
Upper limit of parent-company OPEX, after cost cutting
(1) Parent-company
(ADP SA) OPEX: (Staff costs (net of capitalised production) without profit
share neither employee-related liabilities + other opex + tax other than income tax in
current €m
Toolbox 2016 |38
COST CUTTING
A COST-CUTTING PLAN WITH TWO COMPLEMENTARY PARTS
/
Efforts on staff costs
/
First part of the cost-cutting plan

Salaries and employee costs

Limitation of general payroll increase

Denunciation of time saving agreement
Efforts on purchases
Second part of the cost-cutting plan

Renegociation of purchases contracts:

Between €400m to €500m of contracts to
renegociate between 2016 and 2020 for
regulated activities

Non-replacement of at least one people
out of two leaving the company


i.e. a decrease in ADP SA staff of between
450 and 550 people, to be appreciated at
Control over the number of prescriptions,
and study about the logistics and general
costs structuring
the end of 2020

Reorganisation of the company


Operational savings linked to large
infrastructure projects
Reorganisation of Engineering, Finance, HR,
operational activities teams
Toolbox 2016 |39
OIFOA(1) IMPACTED BY THE CONTRIBUTION OF TAV AIRPORTS AND TAV C
H1 2016 results
NEGATIVE IMPACT ON GROUPE ADP’S 2016 NRAG FORECAST
/
CONTRIBUTION OF INTERNATIONAL ASSOCIATES
TAV Airports
H1 2016
H1 2015
Share of NRAG(1)
@ 38%
€10m
€33m
Share of PPA(2)
@ 38%
-€22m
-€19m
Share of NRAG after
PPA
@ 38%
-€12m
€14m

TAV Airports’ 1st half of 2016 results
TAV Construction
Others

 Revenue: -1.0 % to €503m
 EBITDA: -11.9% to €195m
 NRAG: -64.3% to €32m

Revision of TAV Airports 2016 forecasts:
H1 2016
H1 2015
-€12m
€3m
H1 2016
H1 2015
€8m
€13m
TAV Construction
 Provisions for loss at completion

Other operational associates

Exceptional items in 2015

Positive impact of Santiago de Chile
 20% decrease in Istanbul Ataturk international
Origin and Destination passenger traffic
 Stable revenue
 8-10% decrease in EBITDAR
 Significant decrease in Net Profit
(1) Price
Purchase allocation: amortisation of the difference of revaluation of associates
TAV Airports PPA at 100 % will amount to €129m in 2016 and to €136m in 2017 (those amounts are subject to change primarily depending on
changes to traffic forecast)
Toolbox 2016 |40
H1 2016 results
NET RESULT ATTRIBUTABLE TO THE GROUP IMPACTED BY THE SLOWDOWN IN
OPERATING ACTIVITIES OF ASSOCIATES, PARTIALLY OFFSET BY THE DECREASE IN TAX
Incl. €(45)m from
 TAV Airports,
 TAV Construction
 Schiphol
167
14
+2.7%
Base effect linked
to the disposal of
Alyzia in 2015 (€9m)
Exchange rate
loss
Decrease in tax base
and in theorical tax
rate to 34.43%
7
+2.6%
50
127
9
-17.5%
3
-39.7%
15
-23.7%
-14.5%
OIFOA (incl. operating activities
of associates): €270m (-13.6%)
NRAG(1)
H1 2015
EBITDA
Depreciation
Op. activities
of associates
Financial
result
Non-op.
activities of
associates
Income tax
NRAG
H1 2016
Revision of 2016 prevision(2) of Net result attributable to the Group:

Slight decrease of NRAG(1) in 2016 compared to 2015,
with a slight organic growth (i.e. growth excluding 1/ the capital gain of the current headquarters disposal
and 2/ the impact of the share of profit of associates from operating activities of the International and Airport
Development segment)
Traffic growth assumption and EBITDA forecast unchanged for 2016(3)
(1) Net
Result Attributable to the Group
Forecast published in the press release dated 16 February 2016: [...] NRAG growth above or equal 10% in 2016 compared to 2015, including the
impact of the disposal of the current headquarter
(3) On the basis of traffic growth assumption of 2.3% in 2016 compared to 2015 in Paris Aéroport, EBITDA is expected to slightly increase compared
to 2015, according to the 2016-2020 EBITDA growth trajectory between +30% and +40% in 2020 compared to 2014
(2)
Toolbox 2016 |41
STRONG FINANCIAL SITUATION AS OF 30 JUNE 2016
/
DEBT REPAYMENT SCHEDULE (€M)
30/06/2016
31/12/2015
2.8
2.6(3)
Share of fixed-rate
debt(2)
86 %
85 %
Average maturity
6.4 years
6.9 years
Average cost
2.4%
2.4%
Gearing
71 %
63%(3)
A+ / stable
A+ / stable
667
600
550
500
400
135
2016
H1 2016 results
2017
500
500
400
100
2018
2019
2020
2021
2022
2023
2024
2025
…
2028
Net debt
(€bn)
Rating
(S&P)
Capital excluding interest as of 30 June 2016(1)
(1) Nominal
value after currency swap
currency swap
(3) Pro forma (including current accounts with non-consolidated companies and debt related to the minority put option)
(2) After
Toolbox 2016 |42
H1 2016
results
IN A CHALLENGING ENVIRONMENT, CONFIRMATION OF THE 2016 EBITDA FORECAST
AND REVISION OF 2016 NET RESULT ATTRIBUTABLE TO THE GROUP FORECAST
Traffic

Confirmation of 2016
EBITDA forecast(1)

Revision of 2016 NRAG
forecast(2)
Confirmation of the growth assumption of +2.3% in 2016 compared
to 2015
Confirmation of slight growth in EBITDA in 2016 compared to 2015
According to 2016-2020 EBITDA growth trajectory between +30% and +40% between 2014 and
2020

Slight decrease of NRAG(3) in 2016 compared to 2015,
with a slight organic growth (i.e. growth excluding 1/ the capital gain of the
current headquarters disposal and 2/ the impact of the share of profit of associates
from operating activities of the International and Airport Development segment)
(1) Forecast
published in the press release dated 16 February 2016: on the basis of a traffic growth assumption of +2.3% in 2016 compared to 2015,
slight increase in EBITDA [...]
(2) Forecast published in the press release dated 16 February 2016: [...] NRAG growth above or equal 10% in 2016 compared to 2015, including the
impact of the disposal of the current headquarter
(3) Net result attributable to the Group
Toolbox 2016 |43
06
AVIATION
MAKE THE MOST OUT OF OUR PARISIAN AIRPORTS
AVIATION
AVIATION
Ensure
OPERATIONAL
ROBUSTNESS
and strengthen
EFFICIENCY
Potential visual of the junction building at Paris-Orly
Put an emphasis on
maintenance and
renovation
Strengthen the
competitiveness of
the hub and optimise
other process
Improve passengers’
satisfaction
Roll out the One Roof
concept to optimise
our capacities
Potential visual of the merger of international satellites of Terminal 1
Toolbox 2016 |45
AVIATION
AVIATION
DYNAMIC DEVELOPMENT OF SERVICED ROUTES
Growth of line openings …
New routes at Paris-CDG
et Paris-Orly
2014
2015
28
24
(today)
… spurred on by high-growth markets like China.
Cities serviced
Weekly rate
N° of airlines
PARIS
FRANKFURT
7
89
5
6
63
4
LONDON
4
54
5
AMSTERDAM
6
46
3
ADP data at end Dec.2015
The goal is to pursue the upward trend by connecting Paris to China’s Top 10 cities (1)
City
Strategy
1
2
Shanghai
Beijing
3
4
Guangzhou Shenzhen
Target
5
6
Tianjin
Suzhou
Target
-
7
8
Chongqing Chengdu
9
10
Wuhan
Hangzhou
Target
Toolbox 2016 |46
GROUPE ADP TRAFFIC AS AT 30 JUNE 2016
AVIATION
RESILIENCE OF PARISIAN TRAFFIC IN A CHALLENGING ENVIRONMENT IN EUROPE
/
ADP VS PEERS
mpax
H1 2016 /
H1 2015
46
+1.5%
Paris-CDG+ORY
Londres-Heathrow
+0.6%
36
2015: + 8.2 %
2015: + 0.0 %
mpax
Monthly
change
8
+10%
+8.6%
7
+5%
6
+0%
5
-5%
+0.2%
Francfort-Fraport
29
Madrid-Adolfo Suarez
24
Groupe AENA
Q4
-0.9%
29
Fraport group(1)
Q3
+15%
Istanbul-Atatürk
+2.3%
+2.8%
19
Q2
2016: + 1.2 %
2015: + 1.0 %
9
+9.9%
ow TAV @38%
Q1
2016: +1.9 %
2015: + 2.0 %
+20%
30
71
MONTHLY CHANGE IN ADP TRAFFIC
10
Amsterdam-Schiphol
Groupe ADP(1)
/
Jan. Fev. Mar. April May June July Aug. Sept. Oct. Nov. Dec.
-1.8%
47
104
+11.7%
2015 passenger traffic
2016 passengers traffic
2015 passenger traffic growth
2016 passenger traffic growth
Terrorist attacks in Paris (Nov. 2015)
(1)
Traffic weighted by the percentage of shares held
Toolbox 2016 |47
GROWTH IN PARIS AÉROPORT (PARIS AIRPORTS) TRAFFIC AS AT 30 JUNE 2016
DRIVEN BY LOW COST AND NORTH-AMERICAN AIRLINES, AND BY MIDDLE-EAST
AVIATION
% Paris Aéroport
(Paris airports)
total traffic
(departures & arrivals)
H1 2016 / H1 2015
change in Paris
Europe
France
North America
43.8%
17.4%
9.3%
+0.9%
+0.9%
French Overseas
Territories
Africa
10.5%
4.2%
+3.5%
Middle-East
4.9%
+3.4%
-0.8%
+5.1%
Asia/ Pacific
6.4%
-7.9%
Latin America
Japan:
-22.1%
Malaysia:
-94.3%
3.4%
+1.5%
Total traffic
International traffic(1)
+ 1.5 %
38.8%
-0.3%
Connecting rate(2)
24.2%
+0.4pt
(1) Excluding
(2) Number
France et Europe
of connecting passengers out of the number of departing passengers
Toolbox 2016 |48
AVIATION
GROUPE ADP TRAFFIC BY AIRPORT FOR
1ST
HALF OF 2016
Groupe ADP
stake(1)
Stake-weighted
traffic (million
passengers)
H1 2016/ H1 2015
Change
@ 100%
46,2
+1,5%
@ 25.5%(3)
@ 16.7%
0.4
+9.1%
Zagreb
@ 21%
0.3
+5.7%
Jeddah-Hajj
@ 5%
0.3
+18.7%
Amman
@ 9.5%
0.3
+5.4%
Mauritius
@ 10%
0.2
+9.9%
Conakry
@ 29%
0.1
+25.6%
Santiago de Chile
@ 45 %
4.1
+11.2%
Istanbul Atatürk
@ 38%
11.0
+0.2%
Ankara Esenboga
@ 38%
2.3
+6.7%
Izmir
@ 38%
2.2
+1.8%
Other airports(4)
@ 38%
3.2
+10.4%
70.5
+2.3%
Paris Aéroport(2)
Mexico regional airports
Groupe ADP
TAV Airports Group
AVIATION
Total Groupe ADP
(1) Direct or indirect
(2) Paris-Charles de Gaulle and ParIs-Orly
(3) Of SETA, which owns 16.7% of GACN controlling 13 airports in Mexico
(4) Turkey (Milas-Bodrum international since October 2015), Croatia (Zagreb), Saudi Arabia (Madinah), Tunisia (Monastir & Enfidha), Georgia (Tbilissi
& Batumi), and Macedonia (Skopje & Ohrid). Taking into account pro forma for Milas Bodrum international terminal traffic on a like-for-like basis for
2015, traffic of the other TAV Group airports would be up by 3.6% over the first half of 2016 compared to the same period in 2015.
Toolbox 2016 |49
AVIATION
AVIATION
H1 2016 INCOME STATEMENT
/
REVENUE: - 0.8%
/
In €m
EBITDA: +€17M / OIFOA(1): +€23M
In €m
844
Other income
Revenue from airport safety and
security services
Ancillary fees
Parking
Landing
837
21
20
247
232
103
66
101
107
71
109
22.1%
19.9%
EBITDA
185
168
Airport fees
OIFOA
4.1%
Passengers
306
297
34
11
H1 2015
H1 2016
Airport fees (+0.9%): +€5m
 Traffic (of which traffic mix): +€6m
 Tariffs: -€1m
Ancillary fees (+4.7%): +€4m
 Luggage sorting: +€5m
Margin
1.3%
H1 2015
H1 2016
Change of the allocation keys for the regulated
assets base, as announced in January 2015 (see slide 90)
EBITDA +€17m
 Control over operating expenses
OIFOA +€23m
 Decrease in amortisation and depreciation
(-4.1%)
EBITDA/Revenue (%): +2.2 pt
(1) Operating
Income From Operating Activities, including operating activities of associates
Toolbox 2016 |50
07
RETAIL AND SERVICES
RETAIL AND SERVICES
RETAIL
MAIN ACTIVITIES
COMMERCIAL ACTIVITIES
SERVICES
ADVERTISING
BARS & RESTAURANTS
CAR PARKS
Toolbox 2016 |52
RETAIL 2020
RETAIL
CONTINUE THE SUCCESS STORY OF RETAIL IN 2016-2020
RETAIL
Offer the ULTIMATE
PARISIAN EXPERIENCE
in shopping and dining
Potential picture of retail area of international Terminal 1
Optimise and
standardise the offering
available in
international terminals
Increase awareness
before the arrival at the
airports
Develop our
brand portfolio
Roll out the joint ventures
model to
Bars & Restaurants
Central square of Hall K of terminal 2E
Toolbox 2016 |53
RETAIL: TARGET SALES/PAX OF €23 BASED ON A FULL-YEAR OF 2020
RETAIL
AFTER DELIVERY OF THE INFRASTRUCTURE PROJECTS SCHEDULED FOR 2016-2020
GROWTH IN SALES PER PAX(1)
Favourable traffic mix:
+3.6% CAGR 2016-2020
for international traffic
between 2015 and the delivery of
2016-2020 infrastructure projects
Standardisation of international terminals
23
19,7
17,7 18,2
16,8
15.1
14.3
12.4
11.6
10.7

Renovation of Terminal 2E Halls K and L

Renovation of the Terminal 1 international satellites

Remodelling work at Orly Sud and the junction building

Merging of satellites 2B and 2D
9.8
Development of the airport's
2006 2008 2010 2012 2014
2007 2009 2011 2013 2015

€23 of sales/PAX
reputation

based on a full-year after delivery
of the 2016-2020 infrastructure projects
(1) Sales
per pax: revenue of airside shops per departing passenger
Toolbox 2016 |54
RETAIL AND SERVICES
Last
Minute
Breathing
area
Ambition in
Interior Design:
WALKTHROUGH
Beauty & Arts de
vivre Department
Store
THE
DEPARTMENT
STORE
CENTRAL
SQUARE
Seats, bars &
restaurants,
services,
with shops around
THE PARISIAN
SQUARE
Boarding
Security check / Border
SPECIFIC LAYOUT FOCUSED ON PARIS – 58 800 SQ.M DEDICATED TO RETAIL ACTIVITIES
RETAIL
LUXURY
AREA
Last
Minute
THE AVENUE
To offer a last
Parisian shopping
experience
Toolbox 2016 |55
RETAIL AND SERVICES
RETAIL
UNIQUE BUSINESS MODEL
SHOPS AND ADVERTISING
BARS AND RESTAURANTS
JVs on strategic activities
 A 50/50 JV with the best operator in the
sector
 A joint governance
+
Specialized multibrand stores on activities
with strong technicality
 The best operator downtown
+
Operators
 EPIGO: New Joint venture with SSP
 A strong incentive to deliver quality
+
Brands directly managed
on specific formats
Luxury brands directly managed
Toolbox 2016 |56
RETAIL AND SERVICES
RETAIL
KEY ROLE OF JOINT-VENTURES IN RETAIL
Core Business & Fashion
SDA

50/50 partnership with Aelia
(Lagardère Services)

Integration of Fashion shops
inside SDA beginning of 2012

23,360 sqm
Press & book, Souvenir
Relay@ADP

50/50 partnership with
Lagardère Services

New and renewed outlets

New Souvenir activity « Air de
Paris »

6,860 sqm
Advertising
Media Aéroports de Paris

50/50 partnership with JC
Decaux

Larger and more qualitative
billboards

Design by Patrick Jouin
Toolbox 2016 |57
PROPOSE « THE ULTIMATE PARISIAN DINING EXPERIENCE »
RETAIL
REVIEW OF OUR BARS AND RESTAURANTS OFFER IN OUR PARISIAN TERMINALS
Launch of the JV(1) Epigo
in bars and restaurants core business


Applying JV system success to Bars &
Restaurants
Management of 36 shops,
of which 8 new in Paris-Charles de Gaulle
for the 1st half of 2016
 Prêt à Manger, Brioche Dorée, Caviar House, ...
Upmarket strategy in progress for table
service

Guy Martin’s (Michelin-starred chef)
restaurant I love Paris awarded
 “Palme d’or” of the world best restaurant in airports,
according to the FAB Awards

Opening of the restaurant CUP Paris-Orly
 Gilles Choukroun’s (Michelin-starred chef) new
restaurant
Restaurant I love Paris
(1) Joint
Restaurant CUP
venture
Toolbox 2016 |58
LAUNCH OF A RE-DYNAMISATION PLAN FOR RETAIL
RETAIL
IN A CHALLENGING ENVIRONMENT FOR OUR SHOPS
/

Shops that better resist than in downtown
Paris, in a challenging European
environment
/
…requiring the launch of a
re-dynamisation plan in favour of retail
Challenging environment:

Decrease in international tourism in Paris


(-10% as at end March 2016)(1)
Measures reinforced towards
international customers
Negative effect of unfavourable exchange rate

Targeted action

(base 100 as at 1 January 2016)
Reinforcement of sales and special
offer on Core business and Fashion
105
100
95
90
01/2016

02/2016
03/2016
04/2016
$/€
05/2016
06/2016
07/2016

Yuan / €

Revenue from rents of airside shops: -6.6 %

Sales/PAX to €18.1, down by 8.3 %,

Speeding up shops openings

Duty Free: - 8.5 % to €34.0

Duty Paid: - 1.8 % to €7.0
33 openings during the 1st half of
2016

High potential of brands fashion and
beauty mobile shops

Roll-out of catering corners
Revenue from rents of landside shops: +18.6%
(1) Source:
OTCP
Toolbox 2016 |59
RETAIL AND SERVICES
RETAIL
H1 2016 INCOME STATEMENT
/
REVENUE: -0.5 %
In €m
Others
Rentals
Industrial service
revenue
Car parks
Retail
activities
/
448
18
69
446
18
72
68
68
88
87
EBITDA: -3.0% / OIFOA: -10.1%
In €m
48.3%
43.7%
257
206
201
55.8%
57.2%
217
249
195
EBITDA
OIFOA
Details NEXT PAGE
Margin
H1 2015
H1 2016
Retail activities (-2.3%): -€5m
H1 2015
H1 2016
 Slowdown in international traffic
Change of the allocation keys for the regulated
assets base, as announced in January 2015 (see slide 90)
 Unfavourable exchange rate
Decrease in EBITDA and OIFOA:
 Decrease in rents from airside shops partially
offset by the growth in landside shops, in bars
and restaurants and in advertising
Rentals (+4.3%): +€3m
 Amortisation and depreciation up by 24.6 %
 Operating activities of associates (joint ventures
with Lagardère Travel Retail and JCDecaux): net
result decrease by €4m to €0m
EBITDA/Revenue (%): -1.4 pt
Toolbox 2016 |60
RETAIL AND SERVICES
ZOOM ON RETAIL RENTS AND
/
SALES/PAX(1) FOR
1ST
HALF OF 2016
/
RETAIL ACTIVITIES: -2.3%
In €m
RETAIL
H1 2016 SALES/PAX: -8.3% TO €18.1
Sales/PAX (€)
206
201
37
-0.3%
37
15
7
Of which:
exchange: -12.6%
advertising: +8.9 %
car rentals: +8.5%
37.1
34.0
+23.7%
19
8
-8.5 %
+18.6%
19.8
148
138
18.1
-6.6%
-8.3 %
7.1
7.0
-1.8%
H1 2015
H1 2016
H1 2015
H1 2016
Retail activities
Airside shops
Bars & restaurants
Landside shops
Others
(1) Sales/PAX
Duty Paid (Schengen)
Duty Free (International)
Total
= sales in airside shops per departing passenger
Toolbox 2016 |61
RETAIL AND SERVICES
FOCUS ON COMMERCIAL JOINT VENTURES FOR
1ST
HALF 2016
RETAIL
EBITDA(1): -49.4%
NET RESULT(1): -73.1%
REVENUE(1): +1.5%
In €m
391
0
397
24
33
33

20
26
 Revenue (-4.8%) impacted by slowdown in
international traffic
19
334
318

3
2
8
2
H1 2016
Revenue
Relay@ADP
SDA
(1) Of
EBITDA
1
4
2
6
6
RN
EBITDA
H1 2015
Media ADP
H1 2016
Relay@ADP
 Slight decrease in revenue (-1.4%)
13
13
H1 2015
SDA (retailing JV(2) with Lagardère Travel Retail)
6
2
3
RN

Media ADP
 Revenue: +11.2 %, thanks to advertising for major sport
events
1

EPIGO
 Revenue at €20m
EPIGO
joint-ventures @ 100 %
venture
(2) Joint
Toolbox 2016 |62
08
REAL ESTATE
PREPARE FOR THE AIRPORT CITY OF TOMORROW
REAL ESTATE
REAL ESTATE
Modernisation of existing
assets
Development of
diversification activities
Build and retain
VALUE CREATION
Development of
cargo activities
Roissypole potential change
Potential picture of Groupe ADP headquarters
at Paris-Charles de Gaulle
Toolbox 2016 |64
REAL ESTATE: MODERNISATION OF ASSETS AND DEVELOPMENT
GROWTH IN EXTERNAL RENTS
Modernisation of assets
(excluding reinvoicing and indexation)
€m
REAL ESTATE

Improved quality of assets

Demolition and reconstruction
230
220
+15%
210
+10%
Development of diversification
activities
200
190
180

Airport business district (Roissypole)

Hotel activity
External rents (excluding reinvoicing and indexation)
170
Higher range of growth in external rents
160
Lower range of growth in external rents
Development of cargo activities
150
2012
2013
2014 2015e 2016e 2017e 2018e 2019e 2020e

External rents up 10% to 15%

between 2014 and 2020e
Toolbox 2016 |65
REAL ESTATE
REAL ESTATE
A UNIQUE DIVERSIFIED PORTFOLIO OF ASSETS, WITH LIMITED RISK
DIVERSIFICATION REAL ESTATE
AIRPORT RELATED REAL ESTATE
Industrial infrastructure supporting players in airport
operations:
External programmes:

Offices

Aircraft maintenance hangars

Retail & hotels

Cargo warehouses

Business parks and logistics warehouses
1,026,000 sqm leased
Adp land portfolio : 1,310 ha
45
122
7,000
Landbanks
336 ha
204 ha
326 ha
211,000
Land used for ADP
buildings
326 ha
277
159,000
381 ha
Land leased to third
parties
85,000
7,000
295,000
Diversification
866 ha
1,310 ha
155,000
3,000
603 ha
Airport related
444 ha
6,000
8,000
109,000
Airport related
531,000sqm
Cargo buildings
Hangars
Logistics
Diversification
495,000sqm
Internal rentals
Offices
Other buildings
Toolbox 2016 |66
REAL ESTATE
REAL ESTATE
HIGH VISIBILITY OF THE RENTS
An average occupancy rate of 91%
as of 31/12/2015
A unique lease maturity
Lease maturity by value
Physical occupancy rate
52%
97%
93%
92%
25%
89%
10%
2105-2017
2018-2020
13%
2012-2023
2024 et +
Business parks /
logistics
Offices
Cargo
Hangars
Toolbox 2016 |67
REAL ESTATE
REAL ESTATE
A UNIQUE POTENTIAL UPSIDE TO BUILD ON THESE STRENGTHS
Aéroports de Paris land : 6,686 ha
Real estate : 1,310 ha
Developed properties
(929 ha)
Fair value(1)
Leased lands
(581 ha)
ADP buildings
(324 ha)
€1,150m
€1,166m(2)
Undeveloped properties
(381 ha)
Airport related
(45 ha)
Diversification
(336 ha)
€142m
(1) Estimate
as of 31/12/2015
IAS 40 valuation whose method is available Note 22 of 2015 consolidated financial statement
to get on www.groupeadp.fr + value IAS 17 + internal ADP real estate operations
(2) value as of December 31, 2015
Toolbox 2016 |68
REAL ESTATE
DELIVERY OF ALL IDENTIFIED REAL ESTATE PROJECTS SINCE 2011
REAL ESTATE PIPELINE IN SQM(1)
320,400
281,400
329,200
New head office for
Groupe ADP
17,100 sqm
Paris-CDG
329,200
291,100
77 800
71 500
158 500
282,700
239 250
242,600
Equipment
maintenance facility
5,700 sqm
Paris-CDG
257,700
Cargo courrier
service
37,500 sqm
Paris-CDG
132,600
42,150
2011
REAL ESTATE
2012
2013
2014
Ongoing projects for delivery before end 2015
Projects delivered
2015
Hotels
15,000 sqm
Paris-Orly
2011-2015 target: to develop a surface area of 320,000 to 360,000 sqm of buildings owned by
Aéroports de Paris or third parties on Aéroports de Paris land between 2011 and 2015
(1)
Toolbox 2016 |69
REAL ESTATE
REAL ESTATE
PROJECTS PIPELINE AS AT THE END OF JUNE 2016
Airport
Segment
ADP role
Operator
Project
Opening
Floorspace (sq.m)
68,600
Projects commissioned over 1st half of 2016
Offices and
2016
warehouses
Engine maintenance
2016
area
CDG
Diversification
Developer
Sogafro/SDV
37,500
CDG
Aeronautical
Investor
TCR Aérolima
CDG
Aeronautical
Developer
Aérostructure
Maintenance
2016
19,000
ORY
Diversification
Developer
Accor
Hotel
2016
7,400
4,700
39,900
Ongoing projects
CDG
Diversification
Developer
Divers
Warehouse
2016
1,000
CDG
Diversification
Investor
Divers
Offices
2016
700
CDG
Diversification
Investor
Headquarter
Offices
2016
17,100
ORY
Diversification
Developer
Accor
Hotel
2017
7,600
CDG
Diversification
Investor
Baïkal
Offices
2018
13,500
Ongoing projects – building permit obtained or under instruction (delivery by 2020)
124,000
Toolbox 2016 |70
REAL ESTATE
REAL ESTATE
H1 2016 INCOME STATEMENT
/
/
REVENUE: +1.4%
In €m
Internal
revenue
Others
Buildings
External
revenue
137
139
25
28
20
19
41
41
In €m
EBITDA: -2.5 % / OIFOA: -8.7%
55.9%
53.8%
40.0%
77
36.0%
75
55
50
EBITDA
OIFOA
Lands
51
51
H1 2015
H1 2016
Margin
H1 2015
H1 2016
External revenue (-0.7%): -€1m
Change of the allocation keys for the regulated
assets base, as announced in January 2015 (see slide 90)
 Rent indexing(1): -€1m
Decrease in OIFOA:
Internal revenue (+10.5%): +€3m
 Amortisation and depreciation: +8.2%
 Operating activities of associates: -€1m
EBITDA/Revenue (%): -2.1 pts
(1) On
1 January 2016, the Cost of Construction index was -0.4%
Toolbox 2016 |71
09
INTERNATIONAL AND AIRPORT
DEVELOPMENTS
ESTABLISH INTERNATIONAL AS THE 3RD BUSINESS OF THE GROUP
INTERNATIONAL
BY EXPORTING OUR SAVOIR-FAIRE IN A CONTROLLED WAY
INTERNATIONAL
Capitalise on our
international assets
Continue the development of TAV
Airports
Enter new markets with ADPi
Diversify our global footprint with
ADPM
Generate Group skill synergies all
over the value chain,
in particular TAV Construction
Forecast design of the future terminal of the new airport of Chengdu
4 CRITERIA
for international
tender offers
GROWTH
THE USE OF GROUP SKILLS
CONTROL OF THE ASSET
PROFITABILITY
Toolbox 2016 |73
INTERNATIONAL AND AIRPORT DEVELOPMENTS
INTERNATIONAL FOOTPRINT – PASSENGERS TRAFFIC FOR
13 regional airports in North and
Central Mexico (25.5%)
 8.8 mpax
 Operator and strategic partner
France
 Paris-CDG: 31.3mpax
 Paris-Orly: 14.9mpax
Owner and operator
Schiphol Group (8%)
 29.7 mpax
 Industrial cooperation
1ST
Liege (25.6%)
 0.3m tonnes of fret
 Strategic partner
INTERNATIONAL
HALF OF 2016
Zagreb airport (ADP 21%
and TAV 15%)
 1.2 mpax
 Operator and partner
Macedonia (100%)
 Skopje & Ohrid: 0.8mpax
 Concession operator
Georgia (76%)
 Tbilisi & Batumi: 1.0 mpax
 Concession operator
Turquie
 42.3 mpax
 Istanbul Ataturk, Ankara,
Izmir, Gazipasa et Bodrum
 Concession operator
Amman – Jordan (9.5%)
 3.4 mpax
 Management contract
 Strategic partner
Conakry (29%)
 0.2 mpax
 Operator
TAV Airports
ADP Airports
TAV + ADP
Santiago de Chile (since october
2015) (45%)
 9.3 mpax
 Concession operator
Tunisia (67%)
 Enfidha & Monastir 0.6 mpax
 Concession operator
Jeddah (Hajj terminal) – Saudi
Arabia
 5.1 mpax
 Management contract
Mauritius (10%)
 1.6 mpax
 Operator
 Strategic partner
Medinah (Saudi Arabia) (33%)
 3.4mpax
 Concession operator
Toolbox 2016 |74
TAV AIRPORTS
FULL SERVICE PROVIDERS FROM CONSTRUCTION TO OPERATIONS OF
THE AIRPORT VALUE CHAIN
INTERNATIONAL
REVENUE / EBITDA 2015: €1,079M / €488M
Airports
Turkey
 Istanbul Ataturk Airport
(100%)
 Ankara Esenboga Airport
(100%)
 Izmir Adnan Menderes
Airport (100%)
 Gazipasa Alanya Airport
(100%)
 Milas Bodrum Airport
(100%)
Georgia
 Tbilisi (80%) and Batumi
Airports (76%)
Tunisia
 Monastir and Enfidha
Airports (67%)
Macedonia
 Skopje and Ohrid Airports
(100%)
Saudi-Arabia
 Medinah (33%)
Croatia
 Zagreb Airport (15%)
Duty free
ATU (50%)
 Largest duty free
operator in Turkey
 Partner with Unifree–
owned by Heinemann,
leading German travel
retailer (Travel Value)
 Operating in Turkey,
Georgia, Tunisia,
Macedonia and Latvia
Food & beverage
Ground handling
BTA (67%)
 Operating in Turkey,
Georgia, Macedonia ,
Tunisia and Medinah
 Operates Istanbul Airport
Hotel (131 rooms)
 Total seating capacity of
19,041 at 237 points
including BTA IDO and
UNIQ
 Baker and pastry factory
serving in Turkey
 BTA Denizyollari (50%) is
the F&B operator of
Istanbul Deniz Otobusleri
(IDO)
 Uniq shopping mall foodcourt
HAVAS (100%)
 Major ground handler in
Turkey with a c.65%
share
 Operates in 25 airports in
Turkey including Istanbul,
Ankara, Izmir and
Antalya
 TGS (50%) operates in
Istanbul (AHL&SGA),
Ankara, Izmir, Antalya,
Adana, Bodrum and
Dalaman
 67% partner of Havas
Europe, operating in
Riga and 6 airports in
Germany
Others
TAV & O&M (100%)
 Commercial area
allocations and lounges,
travel agency services
TAV IT (100%)
 Airport IT services
TAV Security (100%)
 Security service provider in
Istanbul, Ankara, Izmir and
Gazipasa
TAV Latvia (100%)
 Commercial area
management in Riga
Airport
TAV Academy (100%)
Toolbox 2016 |75
TAV AIRPORTS
CONCESSION OVERVIEW
INTERNATIONAL
Toolbox 2016 |76
INTERNATIONAL
OIFOA(1) IMPACTED BY THE CONTRIBUTION OF TAV AIRPORTS AND TAV C
NEGATIVE IMPACT ON GROUPE ADP’S 2016 NRAG FORECAST
/
CONTRIBUTION OF INTERNATIONAL ASSOCIATES
TAV Airports
H1 2016
H1 2015
Share of NRAG(1)
@ 38%
€10m
€33m
Share of PPA(2)
@ 38%
-€22m
-€19m
Share of NRAG after
PPA
@ 38%
-€12m
€14m

TAV Airports’ 1st half of 2016 results
TAV Construction @ 49 %
Others

 Revenue: -1.0 % to €503m
 EBITDA: -11.9% to €195m
 NRAG: -64.3% to €32m

Revision of TAV Airports 2016 forecasts:
H1 2016
H1 2015
-€12m
€3m
H1 2016
H1 2015
€8m
€13m
TAV Construction
 Provisions for loss at completion

Other operational associates

Exceptional items in 2015

Positive impact of Santiago de Chile
 20% decrease in Istanbul Ataturk international
Origin and Destination passenger traffic
 Stable revenue
 8-10% decrease in EBITDAR
 Significant decrease in Net Profit
(1) Price
Purchase allocation: amortisation of the difference of revaluation of associates
TAV Airports PPA at 100 % will amount to €129m in 2016 and to €136m in 2017 (those amounts are subject to change primarily depending on
changes to traffic forecast)
Toolbox 2016 |77
INTERNATIONAL
INTERNATIONAL AND AIRPORT DEVELOPMENTS
H1 2016 INCOME STATEMENT
/
In €m
ADP
Management
/
REVENUE: +8.3%
42
7
45
EBITDA: +€6M / OIFOA: -€39M
In €m
10
25
EBITDA
2
ADP
Ingénierie
35
35
-4
H1 2015
H1 2016
Revenue of ADP Ingénierie (+0.6%): virtually stable
 Contract in Santiago de Chile
 Backlog for 2016 – 2019 period: €73m
Revenue of Aéroports de Paris Management
(+48.3%): +€3m
 Takeover of Santiago de Chile concession
H1 2015
OIFOA
-14
H1 2016
EBITDA up by €6m to €2m
OIFOA down by -€39m to -€14m
 Negative contribution of associates from
operating activities (TAV Airports, TAV
Construction and Schiphol): -€45m compared
to 2015, to -€16m
Toolbox 2016 |78
10
OTHER ACTIVITIES
OTHER
ACTIVITIES
OTHER ACTIVITIES
HUB SAFE
HUB ONE
BtoB or BtoC telecom and tracability
solutions

Airport security

Mobility solutions

Owned at 100%

Owned at 100%

Toolbox 2016 |80
OTHER
ACTIVITIES
OTHER ACTIVITIES
H1 2016 INCOME STATEMENT
/
/
REVENUE: +4.9%
In €m
In €m
101
Hub Safe
EBITDA: -0.8% / OIFOA: -3.8%
37
106
37
11.7%
Hub One
64
H1 2015
69
12
H1 2016
Hub One (+6.7%): +€5m
 Good performance in equipment of Mobility
division and customer service
Hub Safe (+1.8%): slight increase
 Gain of contract of Nantes airport
11.1%
4.8%
12
4.4%
5
5
H1 2015
H1 2016
EBITDA
OIFOA
Margin
Hub One
 OIFOA: +€1m to €4m
Hub Safe
 OIFOA: +€1m to €1m
Others
 OIFOA: -€2m to €0m
Toolbox 2016 |81
11
QUALITY OF SERVICE
CORPORATE SOCIAL
RESPONSABILITY
QoS
CSR
LAUNCH OF THE LOYALTY PROGRAMME MY PARIS AÉROPORT
A MOBILE APPLICATION TO BETTER SERVE OUR PASSENGERS
/

Better know our passenger
customers
Creation of the mobile application
My Paris Aéroport including a digital
loyalty card
 QR
code
to be
scanned
at interactive
terminals and in shops
 Assistant helping users to plan their trip
/
… and offer them exclusive benefits

Car park online booking system


Sales on key products in shops and on
services
Customised offers according to travellers’
profile
 Two available status: my Pass & my Premium

Target: French frequent flyers
Paris Aéroport to be the preferred hub
over other European hubs
thanks to strong commitments linked to
the brand universe,
a better customisation for traveller
experience
and exclusive services
Toolbox 2016 |83
QoS
CSR
QUALITY OF SERVICE
A SIGNIFICANT INCREASE IN CUSTOMER SATISFACTION
Growth at Paris-Charles de Gaulle
Growth at Paris-Orly
(year on year as of late June)
(year on year as of late June)
2010
SAD +2.8pt
86.2%
2015
2010
89.0%
86.2%
SAD +2.0pt
2015
89.0%
Skytrax 2016 – CDG : the strongest overall growth, and real
strengths in competition
Shift from
RANK 95 TO 33
SKYTRAX RANKING
TOP 10 Best airport
> 50 mPAX
8th in Best Leasure
Amenities
3th Best Western
Europe Airport
S4: 3th Best Airport
Terminal
Toolbox 2016 |84
QoS
CSR
QUALITY OF SERVICE
2016 – 2020 : REACH THE LEVEL OF THE BEST EUROPEAN AIRPORTS
HISTORY AND FORECAST OF
CDG’S ACI RANKING
HISTORY AND FORECAST OF
ORLY’S ACI RANKING
compared to equivalent European airports (+40 Mpax / year)
compared to equivalent European airports (25-40 Mpax / year)
4,20
4,00
4,11
Best in class
4,20
4
3,85
3,80
3,79
3,60
Best in class
4,21
4,00
4
3,96
3,80
Moyenne
Moyenne
3,60
3,62
CDG
3,40
3,40
ORY
At end 2015
3,20
At end 2015
3,20
2010 2011 2012 2013 2014 2015 2 016 2 017 2 018 2 019 2 020
CONTINUING THE STRONG GROWTH
TREND of the previous period (growth
3.5 times higher than that of
comparables) to reach the level of
the best European airports
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
SPEED UP OUR IMPROVEMENT,
to support the expected
transformation of the platform
through Paris-Orly, New Departure
project
Toolbox 2016 |85
QoS
CSR
FOCUS : CONNECTIONS, A MAJOR & COMPETITIVE ADVANTAGE
FOR PARIS AÉROPORT
Ranking of item « Ease of connections » in CDG and Orly
4,20
4,20
4,00
Best in class
3,80
Moyenne
3,80
Moyenne
3,60
Best in class
4,00
3,60
3,40
3,40
CDG
3,20
3,20
3,00
2010
2011
2012
2013
2014
2015
CDG
3,00
CDG compared to equivalent European airports (+40 Mpax / year)
2010
2011
2012
2013
2014
2015
ORY compared to equivalent European airports (25-40 Mpax / year)
Two priorities to improve customer experience during connections
Quality of the « stay »
Connections Efficiency

Direction & information available at any time
on connections journeys

Fluidity during controls & Fast Track

Optimization of transfers between terminals
(shuttles routes, stations, ...)

A new product : a dedicated area for long
connections on CDG’s hub

Comfort in borading areas (showers, seats to
have a rest, …)

Communication on existing services,
depending on time available
Source: 2014 ACI data
Toolbox 2016 |86
QoS
CSR
CSR(1) STRATEGY AND PERFORMANCE RECOGNISED IN 2015
“Excellence" level
reached for notation
asked by the
company

Excellence level reached by the Group in Ethifinance’s 2014 ranking
with a score of 78/100

Excellence level applies to all areas of CSR for Parent company
Selected for inclusion
in several leading
SRI(2) indexes in 2015

Named to the Dow Jones Sustainability Index (DJSI) for the 1st time –
silver medal for our sector

Joined the FTSE4Good and the Euronext Vigeo France 20

Presence in 10 SRI indexes in total
Recognition of our
position as European
market leader

Ranked No. 1 among major European airport groups for RSE by the
agency Sustainalytics

The only airport company in the Global 100 (ranked 4th company in
France)

Achievement of 2011-2015 strategic target

“Becoming the European CSR leader”
(1) Corporate
(2) Social
Social Responsibility
Responsible Investments
Toolbox 2016 |87
CORPORATE SOCIAL RESPONSABILITY
GROUPE ADP REWARDED FOR ITS EFFORTS
QoS
CSR
Attained « Excellence » level (Ethifinance)
Represented in the FTSE4Good index
Level 3 of the Airport Carbon Accreditation
for Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget
ADP, ranked 31st in the « Global 100 », 4th French
with a result of 64.4% compared to 56.8% in 2014
Good representation in the main indexes:
Toolbox 2016 |88
12
APPENDICES
IMPACT OF THE REVIEW OF THE ALLOCATION KEYS FOR THE REGULATED ASSETS BASE ON THE
SEGMENTS’ OPERATING INCOME FROM THE ORDINARY ACTIVITIES
As a reminder, the change of the allocation keys for the regulated assets base, as proposed by ADP in January 2015
and confirmed by the airport consultative committee (commission consultative aéroportuaire), has an impact on the
segments’ EBITDA and operating income from ordinary activities, including operating activities of associates,
as at 30 June 2016 compared to 30 June 2015.
Refer to the Public Consultation Document for 2016-2020 ERA, available on www.groupeadp.fr
Impact on
EBITDA
H1 2016 / H1
2015 change
EBITDA
change
H1 2016/
H1 2015
Published
EBITDA
change
H1 2016/
H1 2015
Excluding
impact of this
change
Impact on
OIFOA
(including
operating
activities of
associates)
H1 2016 / H1
2015 change
Aviation
+ 15
+17M€
+1.4%
Retail and
services
- 12
-3.0%
Real Estate
-3
-2.5%
In €m
(1) Operating
OIFOA
change
H1 2016/
H1 2015
Published
OIFOA
change
H1 2016/
H1 2015
Excluding
impact of this
change
+ 22
+23M€
+8.6%
+1.6%
- 18
-10.1 %
-1.9%
+0.9%
-4
-8.7%
-0.6%
income for ordinary activities
Toolbox 2016 |90
13
INVESTOR RELATIONS TEAM
GROUPE ADP INVESTOR RELATIONS TEAM

IR TEAM
Mrs. Aurélie Cohen
Head of Investor Relations

Ms. Caroline Baude
Investor Relations Officer

Ms. Sandrine Blondeau
Assistant
In 2016:

4th European Best IR Team in Transport Sector

1st French Best IR Team in Transport sector

Top 25 French Best IRs All Sectors
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Top 80 European Best IR All Sectors
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Phone: +33 (0)1 43 35 70 58
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E-mail: invest@adp.fr
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Website: finance.groupeadp.fr/
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Address: 291 boulevard Raspail, 75 675 Paris CEDEX 14 France
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DISCLAIMER

Forward looking statements
This presentation does not constitute an offer of, or an invitation by or on behalf of Aéroports de Paris to subscribe or purchase
financial securities within the United States or in any other country. Forward-looking disclosures are included in this press release. These
forward-looking disclosures are based on data, assumptions and estimates deemed reasonable by Aéroports de Paris. They include in
particular information relating to the financial situation, results and activity of Aéroports de Paris. These data, assumptions and
estimates are subject to risks (such as those described within the reference document filed with the French financial markets authority
on 1 April 2016 under number D. 16-0248 and uncertainties, many of which are out of the control of Aéroports de Paris and cannot be
easily predicted. They may lead to results that are substantially different from those forecasts or suggested within these disclosures.

About Groupe ADP
Groupe ADP builds, develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2015,
Aéroports de Paris handled more than 95 million passengers and 2.2 million metric tonnes of freight and mail at Paris-Charles de Gaulle
and Paris-Orly, and more than 55 million passengers in airports abroad through its subsidiary ADP Management. Boasting an
exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernising its
terminal facilities and upgrading quality of services; the group also intends to develop its retail and real estate businesses. In 2015,
Group revenue stood at €2,916 million and net income at €430 million.
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Registered office: 291, boulevard Raspail, 75014 Paris, France. A limited company (Société Anonyme) with share capital of
€296,881,806. Registered in the Paris Trade and Company Register under no. 552 016 628 RCS Paris

Investor Relations
Aurélie Cohen
Tel : + 33 1 43 35 70 58
Mail : invest@adp.fr
Website: finance.groupeadp.fr
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Pictures
© Aéroports de Paris – B. Pellarin / D. Boy de la Tour/ E.Luider / Carré Noir / / M. Blossier / P.Stroppa / A.Leduc - Faristine Loughsala Marc Angely - Romain Lochu - Christophe Bardin – ADPI
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