Aéroports de Paris
2016 Investor Toolbox
Updated March 2016
Business Overview
ADP has a resilient business model based on
5 complementary activities
Parent company: Aéroports de Paris SA(1)
Aviation
Retail and services
Construction and
management of
Parisian airports
 3 major airports:
Paris-Charles de
Gaulle, Paris-Orly
and Paris-Le Bourget



 10 regional airfields

Revenue(3) EBITDA
€1,735m
€433m
Op. Inc.
Ord. Act.
€139m
All commercial
activities
Rents from shops
and B&R concessions
Car parks
Rentals for offices
and lounges within
terminals
Industrial services
Revenue
EBITDA
€917m
€552m
Op. Inc.
Ord. Act.
€468m
OVERVIEW
Subsidiaries & Associates(2)
Real estate
International and
airport developments
Other activities
Real estate activities
outside terminals
Airport engineering
Telecom
 ADPI (100%)
 Hub One (100%)
 Aeronautical RE with
Airport management
Security
 ADPM (100%)
 Hub Safe (100%)
direct access to
runways
(maintenance
hangars, cargo)
 Diversification real
estate (offices, malls
and hotels)
Revenue
EBITDA
€265m
€170m
Op. Inc.
Ord. Act.
€115m
 Schiphol Group (8%)
 TAV Airports (38%)
Airport contruction
 TAV Construction
(49%)
Revenue
EBITDA
€96m
€-9m
Op. Inc.
Ord. Act.
€53m
Revenue
EBITDA
€215m
€27m
Op. Inc.
Ord. Act.
€12m
Total Group 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
Including retail and real estate joint ventures
Associates include TAV Airports (38% owned), TAV Construction (49%) and Schiphol (8%) and are accounted for using the equity
method
(3) All figures shown on this slide are FY 2014 pro forma figures
(1)
(2)
Toolbox 2016│ 2
A sound, value-creating economic model
OVERVIEW
supporting the target of strong EBITDA growth
Regulated scope(1)
Industrial strategy
to increase
competitiveness
˃
Traffic: +2.5% CAGR2016-2020
˃
CAPEX 2016-2020: €3.0 billion
˃
OPEX/PAX: -8% between 2015 and 2020
˃
Tariffs: CPI +1.0% CAGR
˃
Quality of Service: Overall ACI/ASQ rating of 4 in 2020e
2016-2020
Convergence between regulated ROCE and WACC: 5.4% in 2020e
Non-regulated scope
Development
strategy across the
entire airport chain
Retail
Real estate
˃ Growth in sales per pax
€23 based on a fullyear after delivery of
the 2016-2020e
infrastructure projects
˃ Growth in external
rents (excl. reinvoicing
and indexation)
+10% to +15%
between 2014 and
2020e
International
˃ 4 criteria for tender
offers:
•
Growth > Paris
•
The use of Group skills
•
Control of the asset
•
Profitability > Paris
Consolidated EBITDA +30% to +40%
between 2014 and 2020e
(1)Aviation
(excl. airport tax), car parks, industrial services revenue, airport real estate
Toolbox 2016│ 3
The Aéroports de Paris airport system is the only one
of its kind in Europe
OVERVIEW
Paris-Le Bourget
> Largest business airport in
Paris - Charles
de Gaulle
> Industrial and aeronautical area
> Europe's 2nd busiest airport,
Europe
> Convention centre
8th busiest in the world in
terms of passenger numbers
> 2nd busiest airport in Europe
for cargo and mail handling
Paris - Orly
> Europe's 10th busiest airport in
terms of passenger numbers
> 3 runways
> 4 runways, 2 independent
parallel pairs
> Skyteam hub for international
and connecting traffic
> FEDEX's cargo hub
> Close to Paris - large catchment
area
> Rapid turnaround of medium-
haul and particularly low-cost
flights
Toolbox 2016│ 4
An airport system equipped with efficient runways
OVERVIEW
… a parallel runway system at Paris-CDG unlike any other in Europe
NO RUNWAY RESTRICTIONS IN PARIS
Paris-CDG, a system unique in Europe
4 runways at Paris-CDG
3 runways at Paris-Le Bourget
3 runways à Paris-Orly
> 2 independent parallel pairs
of runways (+1 runway at
Bourget)
Pontential of runways at Paris-CDG compared to US airports
Comparison of the runway systems of other major hubs
Airport
Paris-CDG
Existing runways
4
2 independent parallel
pairs of runways
> 120 movements per hour 
potential of 135 movements
per hour
ATM/h
(2014)
Airport
Existing runways
120*
Paris-Orly
3
not independent
76
London-Heathrow
2
independent
112
Frankfurt
4
not independent
88
Madrid
4
independent
100
Amsterdam
6
not independent
100
Istanbul Ataturk
3
not independent
58
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
* Programmed summer schedule 2016
Toolbox 2016│ 5
Develop the potential of Aéroports de Paris
… through the competitiveness of the Paris-Charles de Gaulle hub
Paris-Charles de
Gaulle
A connection infrastructure
like no other in Europe, with
land reserves and no runway
restrictions
OVERVIEW
International traffic
and connecting
traffic
International
boosted by
the
boosted
by
the
competitive
pricing
structure
competitive pricing structure, promoting
and
incentives
higher passenger numbers and widebodied aircraft
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 dev. cargo activ., for FEDEX in
particular
Land reserves provide the opportunity for a T4
Toolbox 2016│ 6
CDG Express
OVERVIEW
Progress with the schedule for commissioning in 2023
May
2014
Oct.
2014
Aug.
2015
2016
2017
2018
Choice of
the operator
Start of
works
2023
CDG Express
Feasibility studies
Creation of
CDG
Express
Études
Traffic and
infrastructure
studies
State
Commissioning of
CDG Express
ADP
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│ 7
Spotlight on the proposed Terminal 4
OVERVIEW
SUFFICIENT LAND RESERVES
Potential T4
A Terminal 4 would
complement the ParisCDG hub and allow
increased traffic to be
accommodated post-2024
1st phase during 2021-2025
ERA
Toolbox 2016│ 8
Develop the potential of Aéroports de Paris
… through the internationalisation of Paris-Orly
Paris-Orly
An infrastructure close to
Paris, easy to use for airlines
and passengers alike
OVERVIEW
International traffic boosted by the
competitive pricing structure, promoting
higher load factor
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│ 9
Paris-Orly, a profound transformation
between now and 2020
OVERVIEW
2016
Paris-Orly
International boarding lounge East Pier
12 aircrafts stands
Increase the capacity of ParisOrly to accommodate up to
32.5MPAX
2019
Junction building
Baggage handling
4 mixed aircraft stands
Plan for Paris-Orly with the One Roof project
Toolbox 2016│ 10
Paris-Charles de Gaulle Airport Map
OVERVIEW
Toolbox 2016│ 11
Paris-Orly Airport Map
OVERVIEW
Toolbox 2016│ 12
2020 strategy & targets
Toolbox 2016│ 13
A dynamic sector thanks to global traffic growth
and an increasingly competitive landscape
The global traffic is expected to nearly double by
2030…
1976-1991
+4.6% p.y
5
1992-2007
+4.6% p.y
… in a strong competitive landscape in Europe with
the Middle East
M pax
In connection
35
Bn pax
6
2020
Strategy
& targets
2008-2013
+6% p.y
5 billion
30
25
4
20
3 billion
3
15
2 billion
2
10
1 billion
1
5
0,5 billion
0
0
1945
1955
1965
1975
1985
1995
2005
2015
2025
2005
2006
2007
2008
Paris-CDG
Istanbul
Amsterdam-Schiphol
Fraport
Source : ADP / SIMCA-DIIO APG 2014 / OACI / Airbus / Boeing / Growth of Global GDP of 3 % between 2011 and
2031 (consensus OCDE, HIS)
2009
2010
2011
2012
Abu Dhabi
Doha
Dubai
Londres-Heathrow
2013
Toolbox 2016│ 14
2020
Strategy
& targets
Aéroports de Paris,
Constantly evolving since its initial listing on the stock exchange...
Influence
Connect 2020
Consolidation
Productivity and
Competitiveness
Improved quality of
service
Modernisation
Increased capacity at
Paris-Charles de Gaulle
2020
2016
IPO
2011
2006
2006-2010
2011-2015
2016-2020
Toolbox 2016│ 15
2020
Strategy
& targets
Aéroports de Paris, major player in the aviation sector
with a robust business model, strongly rooted in territories
ATTRACT
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
Working proactively on our Quality of
Service and Route development to
become the number one choice for our
customers
EXPAND
A value-creating business model
that spans all of its activities,
strongly rooted in territories, with a
controlled international development
Toolbox 2016│ 16
2020
Strategy
& targets
Connect 2020
A 2016-2020 Strategic Plan to serve our Ambition
Connect our passenger and airline customers
and motivate our employees : Attract
Connect our infrastructures in Paris :
Optimise
>
> Optimise our airports, our tariffs
structure and our costs to increase our
competitiveness
High standards of quality and excellence,
for connecting customers in particular
Connect Aéroports de Paris with
territories and with the rest of the
world : Expand
>
Realise the CDG Express
>
Export our expertise to new
markets
Be a leading Group in airport design,
construction and operation
OPTIMISE
ATTRACT
EXPAND
Toolbox 2016│ 17
2020 Targets
2020
Strategy
& targets
Drivers of our development strategy
Traffic growth assumption: +2.5% CAGR2016-2020
Convergence of regulated ROCE(1)
to the WACC(2)
RETAIL
5.4% in 2020e
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
(3)Target to be completed annually by an annual forecast
(4) Airport Quality of service indicator (Airport Service QUALITY° MADE BY Airport Coucncil International
(2)Weighted
Toolbox 2016│ 18
Continue our financial discipline
2020
Strategy
& targets
to improve competitiveness
FINANCIAL DISCIPLINE
Restructuring and synergies
Emphasis on Group
productivity
Payroll management
Control and standardisation of needs
Savings on other
company expenses
Control over purchases
Toolbox 2016│ 19
... through continued increases in productivity
> Limit general wage increases
Decrease of OPEX/PAX in
a growing traffic context
> Non-replacement of one in two leaving
employees
FOCUS on regulated expenses per pax
12,4 12,6
11,8
12,1 11,9
-8%
2020
Strategy
& targets
11,0
> Additional savings on other expenses
Regulated OPEX (excl. taxes and depr.) per pax in €
2011 2012 2013 2014 2015e
2020e
Regulated
(1)
-8%
OPEX(1)/pax
between 2015 and 2020
Regulated scope operating expenses, excluding taxes other than income taxes and amortization & depreciation, in constant euros 2015
Toolbox 2016│ 20
2020
Strategy
& targets
An optimised and sustained investment policy
of €4.6 billion(1) to back our strategy
Regulated CAPEX:
€3.0 billion
Non-regulated CAPEX:
€0.9 billion
Security CAPEX:
€0.7 billion
Retail (2) and other non regulated
CAPEX
€ million
2015
Security equipment
Standard 3
Diversification Real Estate
693
631
612
584
457
303
258
53
157
146
2016e
(1)
79
204
2017e
211
143
155
43
99
127
112 101
112
33
66
35
77
2018e
2019e
2020e
ADP SA (mother company), excluding subsidiaries and financial investments. CAPEX breakdown could be revised if necessary.
Retail works CAPEX estimated at €198m over 2016-2020
(2) Including
Toolbox 2016│ 21
2020
Strategy
& targets
Make the most out of our Parisian airports
AVIATION
Ensure operational
robustness and
strengthen efficiency
Potentiel 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
Pontential visual of the merger of international satellites of Terminal 1
Toolbox 2016│ 22
2020
Strategy
& targets
Convergence of regulated ROCE to the WACC in 2020
An emphasis on price
competitiveness and the
development of
international and
connecting traffic
Regulated ROCE
Pricing increase cap
Regulated CAPEX
800
700
Moderation in tariffs:
CPI +1.0% on average/year
New tariffs
structure(2)
600
500
Regulated ROCE
2020
6,0%
3,8%
5,0%
693
631
612
584
400
300
4,0%
457
384
CPI
+1.25%
200
CPI
+1.25%
CPI
+1.25%
CPI
+1.25%
2,0%
CPI
0
3 incentives capped at €5
million/year
3,0%
1,0%
100
Incentives:
5,4%
WACC(1) = 5.4%
0,0%
2015e
2016e
2017e
2018e
2019e
2020e
Regulated CAPEX 2016-2020 in €m 2015, pricing changes and regulated ROCE
Regulated ROCE at 5.4%
in 2020
(1) Methodology consistent with that outlined in the Public Consultation Document for the 2016-2020 ERA available at www.aeroportsdeparis.fr
(2) Proposal
Toolbox 2016│ 23
Continue the success story of Retail
2020
Strategy
& targets
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 JV(1) model to
Bars & Restaurants
Central square of Hall K of terminal 2E
(1) Joint Ventures
Toolbox 2016│ 24
Retail: target sales/PAX of €23 based on a full-year
after delivery of the infrastructure projects scheduled for 2016-2020
Growth of 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
23
Standardisation of international
terminals
19,7
17,7 18,2
11.6
2020
Strategy
& targets
Renovation of Terminal 2E Halls K and L
16,8
15.1
14.3
12.4
Renovation of the Terminal 1 international satellites
Remodelling work at Orly Sud and the junction building
10.7
Sales per pax (€)
9.8
Merging of satellites 2B and 2D
2006
2008
2010
2012
2014
2007
2009
2011
2013
2015
Development of the airport's reputation
€23 of sales/PAX
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│ 25
2020
Strategy
& targets
Prepare for the airport city of tomorrow
REAL ESTATE
Build and retain value
creation
Roissypole potential change
Modernisation of existing
assets
Development of
diversification activities
Development of cargo
activities
Pontential picture of Aéroports de Paris headquarters at Paris-Charles de Gaulle
Toolbox 2016│ 26
Real estate: Modernisation of assets and development
Growth in external rents
(excluding reinvoicing and indexation)
2020
Strategy
& targets
Modernisation of assets
Improved quality of assets
Demolition and reconstruction
€m
230
220
+15%
210
+10%
200
Development of diversification
activities
Airport business district (Roissypole)
190
180
External rents (excluding reinvoicing and indexation)
170
Higher range of growth in external rents
160
Lower range of growth in external rents
150
2012
2013
2014
2015e 2016e 2017e 2018e 2019e 2020e
Hotel activity
Development of cargo activities
External rents up 10% to 15%
between 2014 and 2020e
Toolbox 2016│ 27
Establish international as the 3rd business of the Group
by exporting our savoir-faire in a controlled way
2020
Strategy
& targets
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
> Growth
> The use of Group skills
> Control of the asset
> Profitability
Forecast design of the future terminal of the new airport of Chengdu
4 criteria for
international tender
offers
Toolbox 2016│ 28
Allocation of share capital
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 rating
2020
Strategy
& targets
CAPEX Financing 2016-2020
€3.0 billion on the regulated scope
€1.6 billion on security and non-regulated scope
€billion
current
5.3
5.0
Financial investments and subsidiaries
Assumption of a 60% pay out dividend
policy until 2020
2.7
60% of net result attributable to the Group
Payment of interim dividends
2015
Colonne1
Colonne2
Colonne3
Colonne4
2020e
A+ Stable outlook maintained
For our S&P rating
Toolbox 2016│ 29
Regulation
2016-2020 ERA relies upon a balanced equation,
center of our industrial strategy
Stability
of the regulated scope
as adjusted till
2020 target
ROCE of regulated scope =
WACC
5.4%
Regulated scope
TRAFFIC
ASSUMPTION
CAGR2016-2020 =
+2.5%
International traffic
OPERATIONAL NEEDS
CAGR2016-2020 = +3.6%

Aeronautical
activities
TARIFFS
STRUCTURE AND
INCENTIVES

QUALITY OF SERVICE
CAGR2016-2020 =
CPI+ 1.0%
REGULATORY CHANGES
ECONOMIC ENVIRONMENT
CONTROL OVER
REGULATED OPEX
OPEX / PAX 2020 :
-8% vs 2015e
(1) Excluding
Non-aeronautical
activities
PRICE EFFORTS FOR
AIRLINES
REGULATION
REGULATED CAPEX
€3.0bn




Aeronautical fees
(passenger, landing,
parking)
Ancillary fees(1)
(check-in desks,
luggage sorting
systems, de-icing,
…)
Car parks
Industrial services
Rental revenue
Airport real estate
Non-regulated scope

Revenue from
airport safety and
security services

Commercial
activities
Diversification real
estate
Subsidiaries and
associates


Convergence
of regulated ROCE
to the level of the WACC
in 2020
fees for disabled person (PHMR)
Toolbox 2016│ 31
A proposal to revamp the pricing structure to encourage growth in
international traffic and wide-bodied aircraft
REGULATION
NEW TARIFFS STRUCTURE(1)
EFFECTIVE FROM 1st APRIL 2016
Improve our competitiveness on longhaul pricing
Proposed change to the landing fee
Reduction in the
variable element
Favourable to widebodied 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
Overnight parking exemption
Enhance slot reliability through an
increase in the fixed element
Encourage international traffic
through increased pricing competitiveness
Economic neutrality for ADP in 2016
(1) proposal
Toolbox 2016│ 32
Incentives(1)
to reward high-performing airlines and connecting traffic
REGULATION
INCENTIVES PROPOSED 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 rapidly-growing 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
(1) proposal
Toolbox 2016│ 33
An ambitious and selective investment programme
REGULATION
with an emphasis on maintenance, optimisation and competitiveness
3 PRIORITIES FOR 2016-2020 ERA
984
1048
969
822
663
644
477
Compliance
with
Compliance
with
regulations
regulations
2006-2010 ERA
(1)
2006-2010
ERA
€2.3
billion
225
176
156
Maintenance
Maintenance
380
65 53 64
Optimisation
of of
Optimisation
capacities
capacitiesand
andOne
One
RoofRoof
initiative
initiative
Improving
Improvingaccess
access
2011-2015 ERA
2011-2015
ERA
€2.0 billion
195
33
Competitiveness
Competitivenessof
of
the Hub
the Hub
Service
Servicequality
qualityand
and
sustainable
sustainable
development
development
108 91
208
Aeronautical
Aeronauticalreal
real
estate development
2016-2020 ERA
2016-2020
ERA
€3.0 billion
Comparison of 2006-2010, 2011-2015 and 2016-2020 ERA investment programmes (€ million 2015)
(1) €2.3
billion with a scope comparable to that of ERA 2, i.e. an adjusted till system
to 2011-2015 ERA
(2) compared
Toolbox 2016│ 34
Invest in the competitiveness of the Paris-CDG Hub
REGULATION
INCREASE THE COMPETITIVENESS OF THE HUB
AND PROMOTE OPERATIONAL EFFICIENCY
Improve operational
reliability, the
competitiveness of the hub
and the operational
efficiency of airlines
€644 million
REGULATED CAPEX
2016-2020
Improvement to services
offered to airlines
> Automatic baggage drop-off
> Self-boarding gates
Development of areas to
accommodate widebodied aircraft
> Create parking areas for
wide-bodied aircraft
Improved running time
Baggage sorting in
Terminal 2E's Halls L and
M
> Securing of the northern twoway runway
> Phase 1 up to Hall L
> Phase 2 up to Hall M
Toolbox 2016│ 35
REGULATION
Preserve airport assets
INVEST IN MAINTENANCE AND COMPLIANCE
Ensure the security and
preservation of airport assets
€1,204 m
REGULATED CAPEX
2016-2020
Upgrade terminals to the highest
standard
Renovation to fight against wear and
tear
Maintenance of computer systems
Toolbox 2016│ 36
REGULATION
Roll out the "One Roof" concept
ONE ROOF
Merge and upgrade departure areas
Merge arrival areas
Boost the usage of airport resources
Optimise operating costs for the entire
sector
Provide a more comfortable
atmosphere for passengers
Create additional services for airlines
Expand retail spaces
Toolbox 2016│ 37
One Roof – Paris-Orly
REGULATION
Paris-Orly
Linking of South and West
terminal
80,000 sqm
3.5 MPAX capacity
Toolbox 2016│ 38
Achievement of 2011-2015 targets
2015
TARGETS
Achievement of 2011-2015 targets
Achievements
2011-2015 main targets(1)
Traffic assumption
+2.7%

+2.7%
+2.0% < x < +3.0%

+1.3%
+30% < x < +35%

+34% at €1,184m
€19

€19.7
Real Estate development
+320,000sqm < x <
(2011-2015)
+360,000sqm

329,200sqm

€1.9bn(4)
(CAGR
2011-2015)
OPEX Parent Co.
(CAGR
2012-2015)
EBITDA
(2015 vs 2009(2))
Retail
(Sales/PAX(3))
Regulated CAPEX
(2011-2015)
Regulated ROCE
(2015)
€1.9bn
3.8%
Assessment of 3.8%
(To be published in July 2016)
Update of inital targets in the press releases of 27 June 2012, of 20 December 2012 and of 29 July 2015
EBITDA 2009 : €883m
(3) Sales/PAX : sales of airside shops per departing passenger
(4) Excluding reclassified capitalised costs for €0.1 billion
(1)
(2)
Toolbox 2016│ 40
Traffic growth and increase in fees
in line with the 2011–2015 ERA
Dynamic passenger traffic
of +2.7%
2015
TARGETS
Strict application of the pricing cap
provided for by 2011-2015 ERA
on average per year between 2010 and 2015
Million of
passengers
120
100
83.4
88.1
88.8
90.3
92.7
80
60
58.2
40
25.2
61.0
27.1
61.6
27.2
62.0
28.3
63.8
28.9
95.4
65.8
29.6
+2.7%
CAGR 2011–2015
+2.5%
CAGR 2011–2015
CAGR
2011
2012
2013
2014
2015
Pricing cap(1)
CPI +
0.0%
CPI +
1.0%
CPI +
1.5%
CPI +
2.2%
CPI +
2.2%
CPI +
1.38%
Price increase
applied
+1.49%
+3.4%
+3.0%
+2.95%
+2.4%
CPI +
1.37%
Measured
inflation
1.49%
2.18%
1.84%
0.69%
0.22%
2011–2015
+3.3%
CAGR 2011–2015
20
0
2010
2011
Paris-Orly
(1) Excluding
2012
2013
Paris-Charles de Gaulle
2014
2015
TOTAL
Reminder of the price increase
of 2016-2020 ERA
CAGR2016-2020: CPI +1.0%
of which 2016 price increase: 0.0%
adjustment factors (penalty or bonus linked to the quality of service that allows ADP to exceed the pricing cap)
Toolbox 2016│ 41
Success of our financial discipline
and process modernisation
Close monitoring of
the CAPEX plan
2015
TARGETS
> €1.9bn (vs. €1.9bn expected) of CAPEX plus €0.1bn of reclassified
capitalised costs for the regulated scope between 2011 and 2015

Optimisation in preparation for the 2016–2020 CAPEX plan
> Control over parent company expenses
Success of the
efficiency and
modernisation plan



Reorganisation of
processes
(1) Entreprise
Control over the period: +1.3% CAGR2012–2015
€89m of cumulative savings thanks to the efficiency and modernisation
plan (vs. €71m to €81m expected for 2013–2015)
Decrease of parent company OPEX in 2015: -0.3%

Creation of an integrated engineering function (joining delegated
projects ownership, project management and architecture)

Creation of an airport operations management team

Reorganisation of the finance and management control function
with, notably, the introduction of a new ERP(1)
Resources Planning
Toolbox 2016│ 42
Financial Results
2015
RESULTS
Highlights of 2015
+3.0% in Paris, despite the impact of the terrorist attacks
+4.1% for Group traffic
Paris traffic growth assumption of +2.7% met for 2011–2015
Growth in passenger
traffic



Agreement with the
French government
for the 2016–2020
ERA(1)
Aéroports de Paris's industrial strategy contributes to local and air
transport development
Achievement of
2011-2015 targets
2015 dividends

2015 sales/PAX(2) of €19.7 (vs. €19 expected)

Control over Parent company’s operating expenses (+1.3%
CAGR(3)2012-2015)

2015 EBITDA of €1,184m (+34% compared to 2009(4))

Payout ratio maintained at 60% of NRAG(5),
i.e. a dividend proposed to the General Meeting of €2.61(6) per
share
(1) Economic
Regulation Agreement
of airside shops per departing passenger
(3) Compound average annual growth rate
(4) 2009 EBITDA: €883 million
(5) Net Result Attributable to the Group
(6) Excluding the impact of the interim dividend for 2015, paid in December 2015, of €0.7 per share. The dividend paid in June 2016 should therefore equal €1.91 per share
(2) Revenue
Toolbox 2016│ 44
2015 results:
Strong increase in the Group’s results
Parent company: Aéroports de Paris SA(1)
2015
RESULTS
Subsidiaries and associates(2)
Aviation
Retail & Services
Real Estate
International and airport
development
Other activities
Revenue
€1,735m (+3.8%)
€917m (+3.8%)
€265m (+0.4%)
€96m (+21.2%)
€215m (+7.3%)
EBITDA
€443m (+11.5%)
€552m (+5.7%)
€170m (+3.6%)
-€9m (vs. €0m)
€27m (+10.8%)
€10m (+8.4%)
- €13m (vs. €0m)
€63m (-2.3%)
€468m (+3.6%)
€115 m (-3.5%)
€53m (-16.2%)
Op.
Assoc.
Op. Inc.
From
Ord.Act.
€139m (+51.2%)
Net result attributable to the Group
Group
€2,916m(3)
+4.5%
€1,184m
+6.8%
€60m
-18.5%
€12m (+12.4%)
€787m
+6.8%
€430m
+6.9%
2014 data aforementioned are restated (please refer to slides 100 and 101)
Including commercial and real-estate joint ventures
Equity stakes include TAV Airports (38% stake), TAV Construction (49% stake) and Schiphol Group (8% stake)
(3) Including intersegment eliminations totalling €312m
(1)
(2)
Toolbox 2016│ 45
2015
RESULTS
2015 full year results in line with our forecasts(1)
Revenue
In €m
2,791
EBITDA
1900
2,916
+4.5%
1700
1500
1,109
1300
1100
900
700
EBITDA/
(%)
1,184
+6.8%
39.7%
40.6%
2014
2015
500
revenue
300
2014
2015
Operating income from ordinary activities(2)
Net result attributable to the Group
1000
900
737
800
+6.8%
787
700
OIFOA(2)/
500
revenue
(%)
402
600
26.4%
27.0%
2014
2015
430
+6.9%
400
300
(1) 2015
2014
2015
forecasts: consolidated EBITDA growth of between +30% and +35% between 2009 and 2015
Income From Ordinary Activities including operating activities of associates
(2) Operating
Toolbox 2016│ 46
EBITDA up 6.8%
2015
RESULTS
reflecting effective control of operating expenses
In €m
Revenue
2015 2015/2014
2,916
+4.5%
(1,737)
+2.5%
Raw materials and consumables used
(109)
+6.6%
External services
(668)
+3.1%
Staff costs
(707)
+3.1%
Taxes other than income taxes
(237)
+1.3%
(15)
-32.6%
4
-65.8%
EBITDA
1,184
+6.8%
EBITDA/revenue
40.6%
+0.9pt
Operating expenses
of which :
Other operating expenses
Other incomes and expenses
Control over group operating
expenses : +2.5%
> Reduction in parent company
operating expenses: -0.3%
– Savings on purchases and
subcontracting
– Decrease in employee expenses
following the voluntary
departure scheme (VDS)
> Increase in activity by ADP
Ingénierie
 Increase in activities leading to an
increase in the use of
subcontracting and in subsidiaries’
employee expenses
Toolbox 2016│ 47
Continuation of productivity measures begun in 2013
Success of the efficiency and modernisation plan
Target met for control of
Parent company’s operating
expenses < 3.0%
2013–2015
> Success of the efficiency and
modernisation plan for 2013–2015:
€89m cumulated savings
Parent company’s operating
expenses
1,469

1,586
1,629
1,652
€66m savings on purchases and
subcontracting costs
+1.3%
CAGR2012–2015
In €m
2015
RESULTS

1,647
€23m savings on payroll costs (VDS
with 280 departures)
> Effective control of Parent
company’s expenses: +1.3%
CAGR2012–2015
2015
> Structural savings: €33m, of which
€18m related to the VDS
2011
2012
2013
2014
2015
> Parent company’s expenses: -0.3%
Toolbox 2016│ 48
Net Result Attributable to the Group up 6.9%
2015
RESULTS
Improved operational leverage and financial result
Cœur d’Orly
TAV Airports,
TAV Construction
Schiphol
Retail JVs





+6.8%
Disposal of
remaining
20% of Alyzia
Holding
Provision positive
base effect
+2.5%
- 7.7 %
10
13
9
7
8
Lower cost of debt
+ 22.0 %
46
-18.5%
75
430
+6.9%
402
Operating income from ordinary activities
(incl. Operating activities of associates)
€787m (+6.8%)
NRAG(1)
2014
(1)
EBITDA
Depreciation Op. activites
of associates
Non-op
activites
of associates
Others
Financial
results
Income tax
NRAG
2015
Net Result Attributable to the Group
Toolbox 2016│ 49
2015
RESULTS
Solid financial situation as of 31 December 2015
Debt repayment schedule (€m)
2015
2014
2.7
2.8
85%
85%
6.9 years
7.5 years
Average cost
2.4%
2.9%
Gearing
65%
70%
A+ / stable
A+ / stable
667
600
550
500 500 500
400
Net debt
(€bn)
Share of fixed-rate
debt(2)
400
Average maturity
135
100
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
…
2028
Rating
(S&P)
Capital excluding interest as of 31 December 2015(1)
(1)
Nominal value after currency swap
currency swap
(2) After
Toolbox 2016│ 50
2016, the launch year for a new cycle
2016
FORECASTS
Main projects in 2016
Optimise
Capitalising on our resources
Attract
Aiming for excellence
Launch of the brand
promise and
Launches of major 20162020 ERA infrastructure
projects
of the loyalty programme
Expand
Fostering and sharing
sustainable growth
Opening of the Instant
Paris lounge
New head office building
Creation of the CDG
Express infrastructure
manager
Delivery of the extension
of the eastern pier at
Paris-Orly
New cost-cutting plan
Spring 2016
H1 2016
H2 2016
Toolbox 2016│ 51
Aéroports de Paris group’s 2016 forecasts
Passenger traffic growth
assumption for 2016
2016 tariffs
2016 EBITDA
2016
FORECASTS

+2.3% compared to 2015


+0.0% compared to 2015
Application, in 2016, of the price stability provided for by the 20162020 ERA

Slight increase compared to 2015,
in compliance with our 2016–2020 trajectory of a 30% to 40% growth in 2020
EBITDA versus 2014
NRAG(1) in 2016

Increase greater than or equal to 10% compared to 2015,
2016 dividends


Payout ratio to be maintained at 60% of NRAG
Payment of an interim dividend for 2016 in December 2016
(1)
including the impact of the capital gain of the current headquarters disposal
Consolidated Net Results Attributable to the Group
Toolbox 2016│ 52
Aviation
ADP Group traffic
Resilient traffic growth despite of 2015 terrorist attacks
ADP vs peers
mpax
Paris-CDG+ORY
Londres-Heathrow
61
Francfort-Fraport
61
Amsterdam-Schiphol
Madrid-Adolfo Suarez
Q1
Q2
Q3
Q4
2015 : +2.0% 2015 : +1.0% 2015 : +8.2% 2015 : +0.0%
2014 : +3.6%
2014 : +4.6%
2014 : -0.6%
2014 : +3.2%
+3.0%
+2.2%
75
Istanbul-Atatürk
Monthly change in ADP traffic
2015 / 2014
95
+8.2%
+2.5%
58
+6.0%
47
AVIATION
+11.9%
mpax
AF strike
Sept. 2014
9
+20%
+15%
8
+10%
7
+5%
6
+0%
5
ADP Group(1)
of which TAV @38%
Fraport Group(1)
AENA Group
145
39
+4.1%
4
+8.0%
3
+2.9%
105
207
+5.9%
Monthly
change
Terrorist
attack
Nov. 2015
-5%
-10%
-15%
Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec.
2014 passenger traffic
2014 traffic growth: pax
2015 passenger traffic
2015 traffic growth: pax
Consequences of Air France strike (Sept. 2014) and Paris attacks (Nov. 2015)
(1) Traffic
weighted by the percentage of shares held, see slide 37
Toolbox 2016│ 54
International and Airport Developments
INTERNATIONAL
Group traffic by airport
Stake-weighted
traffic
(m pax)
2015 / 2014
@ 100%
95.4
+ 3.0 %
@ 25.5%(2)
@ 16.7%
0.7
+ 15.0 %
Zagreb
@ 21%
0,5
+ 6.5 %
Jeddah-Hajj
@ 5%
0.4
+ 0.8 %
Amman
@ 9.5%
0.7
+ 0.1 %
Mauritius
@ 10%
0.3
+ 9.6 %
Conakry
@ 29%
0.1
+ 14.3 %
Santiago of Chile
@ 45 %
7.7
+ 7.2 %
Istanbul Atatürk
@ 38%
23.3
+ 8.2 %
Ankara Esenboga
@ 38%
4.7
+ 11.7 %
Izmir
@ 38%
4.6
+ 10.7 %
Other airports(3)
@ 38%
6.3
+ 3.0 %
144.6
+ 4.1 %
In million of passengers
Part ADP
Paris (CDG + Orly)
Mexico regional airports
ADP Group
Groupe TAV Airports
Total Group
(1) Direct
(1)
or indirect
shares in SETA which owns 16.7%of the firm GACN which has control over 13 mexican airports
(3) Milas-Bodrum (Turkey), Croatia (Zagreb), Saudi Arabia (Madinah), Tunisia (Monastir & Enfidha), Georgia (Tbilissi & Batumi), and Macedonia (Skopje & Ohrid). On a regulated scope basis, including MilasBodrum 2014 traffic, traffic of other TAV Group airports would be down by 4.5% for 2015 compared to 2014.
Toolbox 2016│ 55
(2) Of
Paris Airports traffic
AVIATION
Driven by positive traffic mix and strong growth in low costs airlines
% ADP total
traffic
(departures and
arrivals)
2015/2014
change
France
17.0%
North America
9.9%
+0.8%
43.2%
+6.8%
French Overseas
Territories
3.9%
Europe
+3.5%
Asia/ Pacific
Middle East
-0.3%
4.8%
+5.3%
7.0%
+4.4%
Africa
11.0%
Latin America
3.2%
+0.8%
+2.2%
Total traffic
International traffic(1)
+3.0%
+3.4%
24.0%
+0.6pt
(1) Excluding
(2)
France et Europe
Number of connecting passengers out of the number of departing passengers
39.8%
Connecting rate(2)
Toolbox 2016│ 56
Aviation
AVIATION
Dynamic development of serviced routes
… spurred on by high-growth markets like China.
Growth of line openings …
New routes at Paris-CDG
et Paris-Orly
2014
2015
28
24
(today)
PARIS
FRANKFURT
7
89
5
6
63
4
Cities serviced
Weekly rate
N° of airlines
LONDON
AMSTERDAM
4
54
5
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
7
8
9
10
Tianjin
Suzhou
Chongqing
Chengdu
Wuhan
Hangzhou
Target
-
Target
(1) In terms of GDP/capita. 6 cities out of TOP 10 Chinese cities are already connected, 3 remained to be connected
(Suzhou is the surrounding of Shangai).
8 Chinese cities are connected, including 2 secondary cities (Xi’an and Kunming)
Toolbox 2016│ 57
Aviation
AVIATION
P&L in 2015
EBITDA: +11.5%
Operating Income from ordinary activities: +51.2%
Revenue: +3.8%
In €m
1,672
Other
45
Revenue from airport safety
and security services
485
Ancillary fees
191
130
203
Parking
Landing
1,735
In €m
42
25.5%
486
23.8%
208
136
211
Airport fees
618
651
2014
restated
2015
443
397
8.0%
92
Passengers
2014
restated
Airport fees (+5.0%): +€47m
EBITDA +€46m
 Traffic (including Mix effect) : +€23m
 Control over operating costs
EBITDA
OIFOA(2)
5.5%
139
Margin
2015
 Tariffs : +€25m
Ancillary fees (+8.8%): +€17m
 De-icing: +€4m
 PMR(1): +€4m
 Check-in desk: +€4m
(1)
ROC +€47m
 Almost stable depreciation and amortisation (-0.4%)
EBITDA/revenue (%): +1.7 pt
Assistance fees for people with reduced mobility
Income From Ordinary Activities including operating activities of associates
(2)Operating
Toolbox 2016│ 58
Retail and Services
Retail and Services
RETAIL
Main activities
Commercial activities
Advertising
Services
Bars and Restaurants
Car parks
Toolbox 2016│ 60
Retail and Services
RETAIL
Unique business model
Shops and Advertising
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
Bars and Restaurants
Operators
 Joint venture with SSP, Epigo
 A strong incentive to deliver quality
+
Brands directly managed
on specific formats
+
Luxury brands directly managed
Toolbox 2016│ 61
Retail and Services
RETAIL
Key role of joint-ventures
Core Business & Fashion
SDA
Press & book, Souvenir
Relay@ADP
Advertising
Media Aéroports de Paris
 50/50 partnership with Aelia
(Lagardère Services)
 50/50 partnership with
Lagardère Services
 50/50 partnership with JC
Decaux
 Integration of Fashion shops
inside SDA beginning of 2012
 New and renewed outlets
 Larger and more qualitative
billboards
 23,360 sqm
 New Souvenir activity « Air de
Paris »
 Design by Patrick Jouin
 6,860 sqm
Toolbox 2016│ 62
Retail and Services
RETAIL
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
LUXURY
AREA
Last
Minute
THE AVENUE
To offer a last
Parisian shopping
experience
Toolbox 2016│ 63
Retail and Services
2015
RETAIL
targets(1)
To increase duty free sqm by 35%
In ‘000 of sqm
2009-2015
59,1
56,7
To reach a sales / pax of 19.7€ in 2015
Sales / Pax(2) (€)
19.7
58,8 +19%
17.7 18.2
+3.0%
16.8 +5.4%
49,9
24,9
23,6
+11.3%
23,6
15.1
14.3 +5.6%
22,8
5,3
3,9
17,8
2009
19.0 +8.4%
4,7
6,3
22,3
23,2
23,7 +32%
2013
2014
2015
Duty Free shops
Bars and restaurants
Duty Paid shops
Land side shops
(1)2020
targets are disclosed in slide 24 and 25
(2)Sales
of airside shops per departing passengers
+15.3%
5,2
6,3
4,5
6,2
12.4
11.6 +6.9%
10.7 +8.4%
+9.2%
9.8
2006
2008
2007
2010
2009
2012
2011
2014 2015e Real
2013
2015
2015
target
exceeded
Toolbox 2016│ 64
Retail and Services
RETAIL
Sales/PAX by main destination in 2015
South Korea
€52.6
+13%
Traffic: +13.0%
Japan
USA
€21.3
€49.1
+14%
Traffic: +6.6%
Traffic: -6.9%
China
€151.2
+1%
+23%
Traffic: +16.9%
Vietnam
€79.4
+58%
Traffic: -5.7%
Sales/pax(1) 2015
Growth compared to 2014
(1)Sales
of airside shops per departing passenger
Toolbox 2016│ 65
Retail and services
Details of commercial rents and
RETAIL
sales/PAX(1)
Retail income: +8.0%
Sales/PAX 2015: +8.4% at €19.7
433
In €m
401
+8.1%
77
40
71
31
15
Sales/PAX (€)
-1.7%
31
15
-3.3%
36.2
35
32.9
+10.0%
30
25
284
311
+9.6%
19.7
18.2
20
+8.4%
15
10
7.1
7.3
+2.7%
5
0
2014
2015
2014
2015
Commercial rents
(1) Sales/PAX
Airside shops
Bars & restaurants
Landside shops
Other
Duty Paid (Schengen)
Duty Free (International)
Total
= revenue in airside shops per departing passenger
Toolbox 2016│ 66
Retail and services
RETAIL
P&L 2015
EBITDA: +5.7%
Operating Income from ordinary activities: +3.6%
Revenue: +3.8%
In €m
884
28
143
917
34
141
Industrial service
revenue
128
133
Car parks
183
176
Other
Rentals
Retail income
401
2014
restated
In €m
51.0%
51.1%
523
433
60.2%
59.2%
552
452
468
EBITDA
OIFOA(1)
+8.0%
2015
Margin
2014
pro forma
2015
Retail income (+8.0%): +€32m
 Positive traffic mix
EBITDA and Op. income from operating activities up:
 Favourable exchange rate effect
 Opening of the luxury block at Hall K in Terminal 2E
 Associates’ operating results (JVs with Aélia and
JCDecaux) : +8.4% to €10m
Parkings (-3.9%): -€7m
EBITDA/revenue (%): +1.0 pt
 Lower average parking time
(1)
Operating Income From Ordinary Activities including operating activities of associates
Toolbox 2016│ 67
Retail and services
RETAIL
Focus on commercial joint ventures
EBITDA(1): +26.9%
Net Income(1): +50.3%
Revenue(1):
+7.9%
SDA (retailing JV(2) with Lagardère Travel Retail):
In €m

899
833
46
52
139
132
41
708
655
32
7
5
17
3
21
2014
2015
12
EBITDA
RN
2014
Media ADP
(1)
Of joint-ventures @100 %
ventures
(2) Joint
Relay@ADP
Relay:
7
7
2
Revenue growing by 8.1%:
– Traffic effect : +3.0%
– Growth of Fashion and Core business
– Impact of the opening of the shops of the
central square at Hall K in Terminal 2E in
October 2014
25
4
27

3
18
EBITDA
2015
RN
Revenue growing by 4.9% carried up by the success
of the strategy of diversification of Relay to the
snacking
Media ADP:

Revenue growing by 12.5% supported by new
contract in particular in digital activities
SDA
Toolbox 2016│ 68
Retail and services
Details of commercial rents and sales/PAX(1)
Retail income: +8.0%
Sales/PAX 2015: +8.4% at €19.7
433
In €m
401
+8.1%
77
40
71
31
15
Sales/PAX (€)
-1.7%
31
15
-3.3%
36.2
35
32.9
+10.0%
30
25
284
311
+9.6%
19.7
18.2
20
+8.4%
15
10
7.1
7.3
+2.7%
5
0
2014
2015
2014
2015
Commercial rents
(1) Sales/PAX
Airside shops
Bars & restaurants
Landside shops
Other
Duty Paid (Schengen)
Duty Free (International)
Total
= revenue in airside shops per departing passenger
Toolbox 2016│ 69
Real Estate
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:
> Aircraft maintenance hangars
>
Cargo warehouses
External programmes:
>
>
>
Offices
Retail & hotels
Business parks and logistics warehouses
ADP land portfolio : 1,310 ha
45
122
1,026,000 sqm leased
336 ha
204 ha
326 ha
Land used for ADP
buildings
Land leased to third
parties
603 ha
Diversification
866 ha
211,000
m²
381 ha
326 ha
277
Airport related
444 ha
7,000 m²
Landbanks
1,310 ha
8,000 m²
7,000 m²
295,000
m²
3,000 m²
159,000
m²
85,000
m²
6,000 m²
155,000
m²
109,000
m²
Airport related
531,000sqm
Cargo buildings
Hangars
Logistics
Diversification
495,000sqm
Internal rentals
Offices
Other buildings
Toolbox 2016│ 71
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%
25%
10%
2015-2017
2018-2020
13%
2021-2023
2024 et +
Toolbox 2016│ 72
Real estate
REAL ESTATE
A unique potential upside to build on these strengths
Aéroports de Paris land : 6,686 hectares
Real estate : 1,310 ha
Developed properties
Undeveloped properties
(905 ha)
(405 ha)
Leased
lands
ADP buildings
Airport related
Diversification
(324 ha)
(48 ha)
(357 ha)
(581 ha)
Fair value(1)
€ 1 100 M
€ 1 047 M (*)
€ 142 M
(*) : value as of December 31, 2014
(1)Estimate
as of 31/12/2014.
IAS 40 valuation whose method is available Note 22 of 2014 consolidated financial statement to get on
www.aeroportsdeparis.fr + value IAS 17 + internal ADP real estate operations
Toolbox 2016│ 73
Real estate
REAL ESTATE
+45% increase of the property value over 2009 - 2014
Current value,
excluding taxes
€M
2 500
2 000
1 500
€ 1,584 €
of which
€ 1,373 M
under IAS 40
Land
developments
+ € 160 M
Land leases
Indexation
+ € 66 M
Decreasing
actualisation
rate
+ € 280 M
New building
Developments
+ € 165 M
€ 2,290 M
LBG
+ € 35 €
137
of wich € 2,110 M
under IAS40
171
LBG and others airfields
142
+ € 34 M
Paris-Orly
& Paris-Charles de Gaulle landbanks
1 016
+€3M
139
1 000
Paris-Orly & Paris-Charles de Gaulle
leased buildings
674
+€ 343 M
500
960
Paris-Orly & Paris-Charles de Gaulle
leased lands
634
+€ 326 M
0
2009
2014
2014 external valuation coverage = 77% (value)
IAS 40 valuation whose method is available Note 22 of 2014 consolidated financial statement to get on
www.aeroportsdeparis.fr + value IAS 17 + internal ADP real estate operations
Toolbox 2016│ 74
Real Estate
Delivery of all identified real estate projects since 2011
Real estate pipeline in sqm(1)
320,400
281,400
329,200
REAL ESTATE
New head office for
Aéroports de Paris
17,100sqm
Paris-CDG
329,200
291,100
77 800
71 500
Equipment
maintenance facility
5,700sqm
Paris-CDG
158 500
282,700
239 250
242,600
257,700
2013
2014
Cargo courrier
service
37,500sqm
Paris-CDG
132,600
42,150
2011
2012
Ongoing projects for delivery before end 2015
2015
Hotels
15,000sqm
Paris-Orly
Projects delivered
(1) 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
Toolbox 2016│ 75
Real Estate
REAL ESTATE
Achieving 2015 targets with 329,200sqm developped
Airport
Segment
ADP Role
Operator
Project
CDG
Diversification
Developer
IBIS
Hotel extension
2011
8,600
ORY
Diversification
Developer
Compass
Operation premises
2011
4,250
CDG
Diversification
Developer
Divers
Offices
2011
1,300
ORY
Diversification
Developer
Franprix
Logistics
2012
28,000
CDG
Aeronautical
Developer
Air France
Baggage storage
2012
11,700
CDG
Diversification
Developer/Investor
Servair/AF
Altaï
2012
13,250
CDG
Diversification
Developer
Air France
Engine test bench
2012
5,500
ORY
Diversification
Developer
Fnac
Logistics
2012
22,000
CDG
Aeronautical
Developer/Investor
WFS/ Kuhene+Nagel.
Cargo terminal GB3
2012
18,000
CDG
Diversification
Developer
Aélia
Operation premises
2012
20,000
CDG
Diversification
Developer
Unibail
Aéroville shopping mall
2013
110,000
CDG
Diversification
Developer
Citizen M
Hotel
2014
6,100
CDG
Aeronautical
Developer
Sodexi
Cargo
2014
9,000
CDG
Aeronautical
Developer
DHL
Warehouse and offices
2015
16,200
ORY
Diversification
Developer
Dacsher
Parcel delivery
2015
8,800
CDG
Diversification
Developer
Accor
3* hotels
2015
27,000
ORY
Diversification
Developer/Investor
Bureaux
Cœur d'Orly
2015
19,500
Total projects delivered or ongoing (opening before 2015)
Opening
Floorspace (sqm)
329,200sqm
2011-2015 target(1): 320,000 – 360,000
Development target: buildings owned by Aéroports de Paris or third parties built on Aéroport de Paris' land between 2011
and 2015
(1)
Toolbox 2016│ 76
Real Estate
REAL ESTATE
Pipeline of ongoing projets
Airport
Segment
ADP Role
Operator
Project
Opening
Floorspace (sqm)
CDG
Diversification
Developer
Sogafro/SDV
Offices and warehouses
2016
37,500
CDG
Aeronautical
Investor
TCR Manustra
Engine maintenance area
2016
4,700
CDG
Diversification
Developer
Divers
Warehouse
2016
1,000
CDG
Diversification
Investor
Divers
Offices
2016
700
CDG
Aeronautical
Developer
Aérostructure
Maintenance
2016
19,000
ORY
Diversification
Developer
Accor
Hotels
2016-17
15,000
CDG
Diversification
Investor
Siège social
Offices
2016
17,100
Total ongoing projects
108,500sqm
Toolbox 2016│ 77
Real Estate
REAL ESTATE
P&L 2015
Revenue: +0.4%
264
265
52
52
Other
27
28
Buildings
84
82
In €m
EBITDA: +3.6%
Operating Income from ordinary activities: -3.5%
In €m
Internal
revenue
External
revenue
62.1%
64.1%
44.9%
43.2%
170
164
119
EBITDA
115
OIFOA(2)
Lands
101
103
2014
restated
2015
Margin
2014
pro forma
2015
Increase in EBITDA due to control over OPEX
External revenue (+0.6%): +€1m
 New renting: +€2m
Decrease in Op. income from operating activities:
 Rent indexing(1): -€1m
 Amortisation and depreciation: -6.2%
Internal revenue (-0.7%): stable
 Depreciation of studies linked to projects of offices at
Cœur d'Orly: -€13m
EBITDA/revenue (%): +2.0 pts
(1)
(2)
On 1 January 2016, the Cost of Construction index was -0.4%
Operating Income From Ordinary Activities including operating activities of associates
Toolbox 2016│ 78
International and Airport Developments
International and airport developments
INTERNATIONAL
International footprint
13 regional airports in North and
Central Mexico (25.5%)
 17.1 mpax
 Operator and strategic partner
France
 Paris-CDG: 65.8mpax
 Paris-Orly: 29.6mpax
Owner and operator
Schiphol Group (8%)
 58.3 mpax
 Industrial cooperation
Liege (25.6%)
 0.6 m tonnes of freight
 Strategic partner
Zagreb airport (ADP 21% and
TAV 15%)
 2.6 mpax
 Operator and partner
Macedonia (100%)
 Skopje & Ohrid: 1.6mpax
 Concession operator
Georgia (76%)
 Tbilisi & Batumi: 2.1 mpax
 Concession operator
Turkey
 90.5 mpax
 Istanbul Ataturk, Ankara, Izmir,
Gazipasa and Bodrum
 Concession operator
Amman – Jordan (9.5%)
 7.1 mpax
 Management contract
 Strategic partner
Conakry Airport (29%)
 0.3 mpax
 Operator
TAV Airports
ADP Airports
TAV + ADP
Santiago de Chile (from October 2015)
(45%)
 17.2 mpax
 Concession operator
Tunisia (67%)
 Enfidha & Monastir 1.4 mpax
 Concession operator
Jeddah (Hajj Terminal) – Saudi
Arabia
 7.3 mpax
 Management contract
Mauritius (10%)
 3.2 mpax
 Operator
 Strategic partner
Medinah (Saudi Arabia) (33%)
 5.8 mpax
 Concession operator
Toolbox 2016│ 80
International and Airport Developments
INTERNATIONAL
Group traffic by airport
Stake-weighted
traffic
(m pax)
2015 / 2014
@ 100%
95.4
+ 3.0 %
@ 25.5%(2)
@ 16.7%
0.7
+ 15.0 %
Zagreb
@ 21%
0,5
+ 6.5 %
Jeddah-Hajj
@ 5%
0.4
+ 0.8 %
Amman
@ 9.5%
0.7
+ 0.1 %
Mauritius
@ 10%
0.3
+ 9.6 %
Conakry
@ 29%
0.1
+ 14.3 %
Santiago of Chile
@ 45 %
7.7
+ 7.2 %
Istanbul Atatürk
@ 38%
23.3
+ 8.2 %
Ankara Esenboga
@ 38%
4.7
+ 11.7 %
Izmir
@ 38%
4.6
+ 10.7 %
Other airports(3)
@ 38%
6.3
+ 3.0 %
144.6
+ 4.1 %
In million of passengers
Part ADP
Paris (CDG + Orly)
Mexico regional airports
ADP Group
Groupe TAV Airports
Total Group
(1) Direct
(1)
or indirect
shares in SETA which owns 16.7%of the firm GACN which has control over 13 mexican airports
(3) Milas-Bodrum (Turkey), Croatia (Zagreb), Saudi Arabia (Madinah), Tunisia (Monastir & Enfidha), Georgia (Tbilissi & Batumi), and Macedonia (Skopje & Ohrid). On a regulated scope basis, including MilasBodrum 2014 traffic, traffic of other TAV Group airports would be down by 4.5% for 2015 compared to 2014.
Toolbox 2016│ 81
(2) Of
International and Airport Developments
TAV Airports and TAV Construction acquisitions were a key milestone
A major strategic investment
INTERNATIONAL
A strong positive impact on the
Group's performance
Significant value creation opportunities
Aéroports de Paris has acquired
 Turkey is an attractive market with strong
growth prospects
 38% of TAV Airports for $874m
 TAV is a leading airport operator with
– A diversified airline and airport portfolio and a
powerful hub
– Strong financial performance: 55% EBITDA
CAGR between 2006 and 2011
 49% of TAV Construction for $49m
Transaction EPS accretive as of 2013
 TAV to be consolidated under the equity method
 Double digit equity IRR expected
– An outstanding platform for future expansion
An equal governance structure
 Senior management team of TAV Airports to
remain in place and committed to the business
post-transaction
 Joint control between ADP, Akfen & Tepe
Toolbox 2016│ 82
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
Food and beverage
Ground handling
Others
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
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
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│ 83
TAV Airports
Concession overview
INTERNATIONAL
Toolbox 2016│ 84
International and Airport Developments
Taking over the concession of Santiago de Chile airport in 2015
INTERNATIONAL
A major strategic investment for Aéroports de Paris group
Broad influence over an area
with high potential
Tapping of Group’s pooled skills
Joint-control of the project company
by ADP (45%) and Vinci (40%)
Growth in traffic expected to be
higher than in Paris
Picture of the Terminal 2 development project at Santiago Airport
Toolbox 2016│ 85
International and Airport Developments
INTERNATIONAL
Santiago de Chile airport concession deal highlight
Deal overview
Structure
Structure
 ADPM: 45%
 VINCI Airports: 40%
 Astaldi 15%
Specifications
 Management and renovation of the
current facilities
 Building of a new terminal (15m of
capacity)
Preferred bidder
 4 February 2015(1)
Beginning of
operation
 1st of October 2015
Duration
 20 years
VINCI
Airports
ADPM
40%
45%
Ministry of public
works
Technical
assistance:
ADPM and Vinci
Construction
Company
Technical
services: ADPi
VINCI
 77,56% of the concession company
turnover
Est. CAPEX
 Around $900m
 Financing to be finalized at closing
(1)
15%
Concession
Company
50%
Rent
Astaldi
Contractual relationship
50%
Astaldi
Authorities
Ownership relationship
Date of opening of the economic offers, pending Supreme Decree of award
Toolbox 2016│ 86
International and Airport Developments
Santiago de Chile airport concession - Infrastructure ID - Key indicators
Location
Land
Terminal




14 km or 30 min from city center
Airport site covers 1056 ha with possible
expansion for future development
 6th Busiest Airport in South America (in MPAX)
32,2
22,5
1 terminal
15m passengers/year capacity
Sao Paulo Bogota
Runway
Parking
stands
Main
customers
INTERNATIONAL

2 distant parallel runways for simultaneous
independent operations

More than 80 aircraft parking stands
17,5
Rio
16,8
15,9
15,3
Sao Paulo Brasilia Santiago
13,3
Lima
10,4
8,9
Maiquetia Buenos
Aires
 Resilient Traffic Growth



Retail

LAN: 72% of passengers
SKY: 13% of passengers
c. 9000sqm of commercial space in 2015 to be
increase to c. 25000 sqm by 2020
Arrival and departure duty free shops
Car parks

More than 7100 parking bays in 2020
Cargo

Annual cargo volume of 292 000 tons in 2014
2003
2.6 MPAX
42%
TCAM : 9.2%
2013
15.3 MPAX
55%
58%
International
45%
Domestic
87
Toolbox 2016│ 87
Slight decrease in result of international operating
associates
TAV Airports
2014
2015
INTERNATIONAL
Share of NRAG(1)
@ 38%
83
80
TAV Airports (IFRIC 12 adjusted):
Share of PPA(2)
@ 38%
-43
-43
>
Share of NRAG after
PPA
@ 38%
40
37
2014
2015
8
6
TAV Construction
Share of NI (no PPA)
@ 49%
Increase in deferred tax and financial costs




Traffic: +8.0% à 102.5 mpax
EBITDA: +12.5% at €488m
NRAG: -4.0% at €210m
Dividends: payout ratio of 50% of NRAG
TAV Construction (unaudited accounts):
>
End of large projects in 2014
 Revenue: -0.5% at $983m
 NR: -38.4% at $14m
 Backlog: $1,1bn
Others
@ 8%
Total share of NRAG after PPA
2014
2015
16
19
64
63
Schiphol:
 Traffic: +6.0% at 55.3 mpax
(1) Net
Result Attributable to the Group
Purchase Allocation. PPA at 100% will amount to €123m in 2016 and to €128m in 2017 (those amounts are subject to
change primarily depending on changes to traffic forecast)
(2) Price
Toolbox 2016│ 88
International and airport developments
INTERNATIONAL
P&L
Revenue: +21.2%
In €m
96
79
Aéroports de Paris
Management
18
EBITDA: -€9m
Operating Income from ordinary activities: -16.2%
80.1%
In €m
55.4%
14
64
ADP
Ingénierie
65
79
53
EBITDA
0
OIFOA(1)
2014
2015
CA ADP Ingénierie (+20.8%): +€14m
 Growth of activity in the Middle East
 Santiago of Chili contracts
 2016–2018 backlog: €63m
CA Aéroports de Paris Management (+23.7%): +€4m
 Taking over of Santiago of Chile airport concession
(1)
2014
-9
2015
Margin
Decrease in EBITDA and Op. income from operating
activities: -€9m
 Increase in staff cost and subcontracting linked with
higher level of activity
 Stable share of profit from operating activities (TAV
Airports, TAV Construction and Schiphol Group): -€1m to
€63m
Operating Income From Ordinary Activities including operating activities of associates
Toolbox 2016│ 89
Other Activities
OTHER
ACTIVITIES
Other Activities
Hub One
 BtoB or BtoC telecom and
tracability solutions
 Mobility solutions
Hub Safe
 Airport security
 Owned at 100%
 Owned at 100%
Toolbox 2016│ 91
Other Activities
OTHER
ACTIVITIES
P&L
Revenue: +7.3%
In €m
ADP
Hub Safe (1)
200
215
4
70
EBITDA: +10.8%
Operating Income from ordinary activities: +12.4%
In €m
77
25
Hub One
127
12.8%
12.4%
5.5%
EBITDA
2015
Hub One (+8.3%): +€10m
 Good performance of Division Mobility and customer
service
Hub Safe(1) (+11.3%): +€7m
 New contract of Nantes airport
(1) Formerly
(2)Operating
5.8%
137
11
2014
restated
27
2014
restated
12
OIFOA(2)
Margin
2015
Hub One
 Operating income from operating activities +€1m
Hub Safe
 Operating income from operating activities +€1m
« Alyzia Sûreté »
Income From Ordinary Activities including operating activities of associates
Toolbox 2016│ 92
Quality of Service
Corporate Social Responsability
Customer satisfaction exceeds targets(1)
QoS
CSR
Continuous improvement in quality of service offered to passengers
... Thanks especially to the optimisation
of key points for customers’ satisfaction
2011–2015 ERA performance targets(1)
exceeded...
% of satisfied or very
satisfied passengers in
the Overall
Arriving/Departing
Customer Satisfaction
indicator
85.6
Achievements in 2015
+3.0pts
88.0
85.8
85.8
88.2
88.8
>




86.0
Improved directional information,
especially for connecting flights
800 directional signs changed
100 directional maps
Signs in Mandarin Chinese
New fleet of connecting bus shuttles
83.9
82.4
>

2007
2008
2009
2010
2011
2012
2013
2014
2015


Improved atmosphere at all of
our terminals with new services
New services: Sports TV, retro video game
and game console areas
Self-service business centres
Free WI-FI
Source: L’Observatoire des passagers, a BVA survey of 8,000 departing passengers and 3,600 arriving passengers
carried out on behalf of Aéroports de Paris every quarter
Baseline for the 2011–2015 ERA set at 87.1% of satisfied or very satisfied passengers and outperformance target set at 88.1%, triggering the maximum
price bonus.
(1)
Toolbox 2016│ 94
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
Recognition of our
position as European
market leader
> 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
> 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)
(2)
Corporate Social Responsibility
Social Responsible Investments
Toolbox 2016│ 95
Corporate Social Responsability
Aéroports de Paris 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 14th in the « Global 100 » compared to 39th in 2012
 Good representation in the main indexes:
Toolbox 2016│ 96
Quality of Service
QoS
CSR
A significant increase in customer satisfaction
Growth at CDG
Growth at ORY
(year on year as of late June)
2010
86.2%
SAD +2.8 pts
2015
89.0%
(year on year as of late June)
2010
86.3%
SAD +2.0 pt
2015
88.3%
Skytrax 2015 – CDG : the strongest overall growth, and real strengths
in competition
Paris-CDG = World’s Most
Improved Airport
Shift from rank 95 to 45 Skytrax ranking
Best Leasure Amenities (10th)
Best Shopping Airport (5th)
S4 : Best Airport Terminal (6th)
Toolbox 2016│ 97
Quality of Service
QoS
CSR
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)
4,2
4,0
Best in class
4,0
3,83
3,8
3,6
4,20
4,04
CDG
Moyenne
3,70
3,4
3,0
4,00
At end2014
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
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
4,04
4
4,0
Moyenne
3,80
Moyenne
ORY
3,60
3,40
3,2
Best in class
3,20
3,53
ORY
At end 2014
3,00
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
Source : Données ACI 2014
Toolbox 2016│ 98
Quality of Service
QoS
CSR
An aggressive programme to fulfil our ambition…
Terminal improvement projects run in zones with high passenger footfall
T1
Check-in zones smoothed
out
Paris-CDG
Paris-Orly
T3
New organisation of
boarding rooms
Circulation in Arrivals and
Departures public concourse
ORYW
ORYS
Check-in efficacy
Improvement of traffic flow in
Departures public zone
New organisation of boarding
room L (2E)
Smoothed out traffic in Departures
public concourse and check-in at
Orly Sud
Cross-functional projects to enable flawless processes and key services in
airport
An easier customer path
Connections – Directions – Luggage delivery – City-airport link
Services
Bars & restaurants – Wifi – Financial services – Rest rooms
Two project to rally the airport community
Hospitality
Punctuality
Toolbox 2016│ 99
FOCUS : Connections, a major & competitive advantage
for Aéroports de Paris
QoS
CSR
Ranking of item « Ease of connections » in CDG and Orly
Best in class
CDG
ORY
Moyenne
4,2
Best in class
Moyenne
4,20
4,0
4,00
3,8
3,80
3,6
3,60
3,4
3,40
3,2
3,20
3,00
3,0
2010
2011
2012
2013
2014
CDG compared to equivalent European airports (+40 Mpax / year)
2010
2011
2012
2013
2014
ORY compared to equivalent European airports (25-40 Mpax / year)
Two priorities to improve customer experience during connections
Connections Efficiency
Quality of the « stay »
> Direction & information available at any time on
connections journeys
> A new product : a dedicated area for long
connections on CDG’s hub
> Fluidity during controls & Fast Track
> Comfort in borading areas (showers, seats to
have a rest, …)
> Optimization of transfers between terminals
(shuttles routes, stations, ...)
> Communication on existing services, depending
on time available
Source : Données ACI 2014
Toolbox 2016│ 100
FOCUS : A place, symbolizing the best of Paris, in the heart of CDG’s
hub for connecting passengers (in 1st July 2016)
QoS
CSR
Hotel Airside
Entrance of the dedicated
area for long connections
« Instant Paris »
Lounges
SPA
Community Area
Toolbox 2016│ 101
Corporate Social Responsability
Aéroports de Paris 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 14th in the « Global 100 » compared to 39th in 2012
 Good representation in the main indexes:
Toolbox 2016│ 102
Appendix
2014 pro forma P&L
APPENDIX
Toolbox 2016│ 104
APPENDIX
2014 pro forma accounts
Aviation
In €m
Revenue
EBITDA
Operating
income from
ordinary
activities(1)
Real Estate
Q1
2014
as
publi
shed
376
nc
Q1
2014
pro
form
a
376
nc
H1
2014
as
publi
shed
801
174
H1
2014
Pro
form
a
801
164
nc
nc
40
17
9M
9M
2014 2014
as
Pro
publi form
shed
a
1,251 1,251
nc
nc
nc
nc
2014
2014
as
Pro
publi form
shed
a
1,671 1,672
363
397
83
92
In €m
Revenue
EBITDA
Operating
income from
ordinary
activities(1)
Q1
Q1
2014 2014
as
pro
publi form
shed
a
65
65
Q1
2014
Pro
form
a
205
H1
2014
as
publi
shed
466
H1
2014
Pro
form
a
430
9M
2014
as
publi
shed
705
9M
2014
Pro
form
a
652
Retail activities
Car parks and
access roads
Industrial
services revenue
Rental income
Other income
85
85
186
187
291
292
EBITDA
Operating
income from
ordinary
activities(1)
(1) including
2014
2014
as
publi
shed
264
Pro
form
a
264
nc
82
82
nc
nc
168
164
nc
nc
63
61
nc
nc
123
119
Other activities
Q1
2014
as
publi
shed
224
Revenue
9M
9M
2014 2014
as
Pro
publi form
shed
a
198
201
nc
Retail and services
In €m
H1
H1
2014 2014
as
Pro
publi form
shed
a
131
137
2014
2014
as
publi
shed
956
Pro
form
a
884
400
401
43
43
92
92
139
139
183
183
13
36
24
67
33
97
43
128
27
56
36
6
52
111
70
14
76
165
105
21
105
224
143
28
nc
nc
265
238
nc
nc
560
523
nc
nc
215
201
nc
nc
463
451
In €m
Revenue
Hub One
Hub Safe
Q1
2014
Q1
2014
H1
2014
H1
2014
9M
2014
9M
2014
2014
2014
as
publi
shed
Pro
form
a
as
publi
shed
Pro
form
a
as
publi
shed
Pro
form
a
as
publi
shed
Pro
form
a
47
47
97
97
148
148
202
200
30
30
62
62
93
93
127
127
16
16
33
33
52
52
70
70
EBITDA
nc
nc
7
11
nc
nc
20
25
Operating
income from
ordinary
activities(1)
nc
nc
-
5
nc
nc
6
11
No impact on International and Airport
developments
operating activities of associates
Toolbox 2016│ 105
Investor Relations Team
Aéroports de Paris Investor Relations Team
IR TEAM
Ms. Aurélie Cohen
Head of Investor Relations
Ms. Caroline Baude
8th European
Investor Relations Officer
and 1st French Best IR Team
Ms. Sandrine Blondeau
Assistant
in Transport Sector
in 2015
Phone: +33 (0)1 43 35 70 58
E-mail: invest@adp.fr
Website: www.aeroportsdeparis.fr
Address: 291 boulevard Raspail,
75 675 Paris CEDEX 14 France
Toolbox 2016│ 107
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 2 April 2015 under number D. 15-0281 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 Aéroports de Paris
Aéroports de Paris builds, develops and manages airports including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2015, Aéroports
de Paris handled around 95 million passengers, 2.2 million metric tonnes of freight and mail in Paris, and more than 55 million passengers at
airports abroad.
Boasting an exceptional geographic location and a major catchment area, Aéroports de Paris 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
2014, Group revenue stood at €2,916 million and net income at €430 million.
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: http://www.aeroportsdeparis.fr
Pictures
© Aéroports de Paris – B. Pellarin / A. Leduc / D. Boy de la Tour/ E.Luider / Carré Noir / / M. Blossier / P.Stroppa
Toolbox 2016│ 108