FRANCE. Food & beverage and landside retail income was to the fore as Aéroports de Paris (ADP) posted a marginal +0.4% rise in EBITDA for 2016 after what it described as a “difficult year”.
However, sales per passenger in airside shops decreased by -4.0% to €18.20.
Group EBITDA reached €1,195 million on turnover that was up by the same percentage to €2,947 million. Group traffic rose +2.0% to 147.0 million; of which Paris-Orly Airport traffic increased by +5.3%, to 31.3 million passengers) and Paris-Charles de Gaulle gained +0.3% to 65.9 million.
Retail & services revenue edged ahead by +0.7% to €941 million, buoyed by the good performance of airport rents from bars and restaurant (+24.6% to €39 million) and from landside shops (+21.4% to €18 million). The F&B increases flowed from a rise in rental income in the wake of the creation of the EPIGO joint venture in February 2016. However, rents from airside shops decreased -4.0% to €299 million in tough trading conditions.
The revenue from retail alone (rents received from airside and landside shops, bars and restaurants, banking and foreign exchange activities, car rental companies and revenue from advertising) fell by -0.5% to €449 million.
Revenue from car parks decreased by -0.7% to €175 million, mainly due to lower hourly earnings. Rental revenue (leasing of space within terminals) increased by +3.6% to €146 million.
The share of profit from retail and F&B operating associates (Société de Distribution Aéroportuaire, RELAY@ADP and EPIGO) was down by €7 million to €1 million.
ADP Chairman & CEO Augustin de Romanet said: “2016 results showed the responsiveness of Groupe ADP in a difficult context. Retail activities resisted in 2016, thanks to the good performance of bars and restaurants and other shops, offsetting the decrease in sales per pax of airside shops.
“In 2017, on the basis of a traffic growth assumption of between +1.7% and +2.2% compared to 2016, EBITDA is expected in upward trend, favourably impacted by the planned-to-date extraordinary income.”