FRANCE. Groupe ADP, which runs Paris Charles de Gaulle and Paris Orly airports, has reported a +4.2% rise in retail revenue for the first nine months of 2017, compared to the same period last year. The total figure (comprising rents received from shops, bars and restaurants, advertising, banking and foreign exchange activities, and car rental companies) reached €342 million.
Within this, revenue from airside shops hit €227 million, up +5.0%, thanks to slight (+0.3%) growth in sales per passenger (to €17.80) over the first nine months. This was despite the negative impact of falling sales of tobacco linked to the implementation of plain packaging. The average sales figure was buoyed by a favourable traffic mix and a solid contribution from duty free shops.
Rents from landside shops increased by +6.3%, to €12 million. Food & beverage posted healthy growth of +5.9%, hitting €31 million, partly thanks to the favourable base effect linked to the roll-out of the EPIGO joint venture.
Media Aéroports de Paris saw its revenue decrease by -1.4% to €39 million. Revenue from car parks was down by -2% at €130 million in the period.
Consolidated revenue, excluding the full consolidation of TAV Airports, climbed by +2.6% to €2,254 million; including TAV Airports the figure stood at €2,596 million. (TAV Airports results have been consolidated into Groupe ADP’s financial statements since July 2017).
Groupe ADP passenger traffic in the nine months rose by +6.6% year-on-year to 172.6 million passengers. Paris Aéroport traffic climbed by +4.7% to 77.3 million passengers, led by dynamic growth in low-cost traffic (+9.6%) and international traffic (+6.4%).
Aéroports de Paris SA – Groupe ADP Chairman and CEO Augustin de Romanet said: “Revenue was driven by the good performance of aviation activities. Retail results, notably revenue from airside shops, benefited from the return of highly-contributive passengers. Although sales per passenger were carried by the dynamism of luxury goods, they remained penalised by the decrease in sales of tobacco linked to the implementation of plain packaging on 1 January 2017, as well as the strong Euro, which reduced the purchasing power of international passengers.
“With regard to its international activities, in July, Groupe ADP acquired an additional 8.12% in the share capital of TAV Airports, bringing its stake up to 46.12%. Since then, TAV Airports results have been fully consolidated, and revenue for July to September is accounted for within Groupe ADP financial accounts, and amounts to €343 million. The upward trend in TAV Airports activities has led to a revision of their forecasts for 2017, without any impact on Groupe ADP forecasts.”