FRANCE. Income from retail & services at Paris Charles de Gaulle and Orly airports climbed by 4.9% year-on-year in 2018 to hit €1 billion for the first time, Groupe ADP has reported.
Revenue from retail (rents received from retail, F&B, banking and foreign exchange, car rental and advertising) posted a solid rise of 6.8% over 2018, at €490 million.
Within this, rent from airside shops rose by 4.8% to €318 million. The figure was buoyed by traffic growth at CDG and Orly (up 3.8% to 105.3 million in the year) and a positive traffic mix despite the negative impact of the strong Euro in H1 2018 and disruption caused by works in Terminal 2E, Halls K and L.
The key figure of sales per passenger rose marginally (0.6%), to €18.40. Rents from landside shops increased by 9.0% to €20 million; Rents from bars and restaurants leapt by 13.4% to €48 million, buoyed by the performance of the joint venture company EPIGO.
The SDA retail joint venture with Lagardère Travel Retail saw revenue climb by 2.9% despite modernising works in Terminal 2E. The Relay@ADP JV posted a 15.7% rise in revenue, driven by catering, packaged food and souvenir gifts.
Advertising revenue amounted to €55 million, up by 10%, led by Media Aéroports de Paris, which was buoyed by a healthy 7% increase in digital media income.
EBITDA in this division rose by 17.6% to €9.7 million and the net result was up by 12.2% to €2.5 million. Revenue from car parks climbed by 1.1% to €173 million.
Overall at Groupe ADP, consolidated revenue climbed by 23.8% to €4,478 million, driven by the growth in Paris and by the positive impact of the inclusion of TAV Airports results and AIG (which runs Amman Airport) since April 2018. Excluding the full consolidation of TAV Airports and AIG, revenue was up by 4.6% to €3,137 million. Traffic growth across the group rose by 7.6% to 281.4 million in the year.
With the consolidation effect, EBITDA climbed by 25.1% to €1,961 million. Excluding the full consolidation of TAV Airports and AIG, EBITDA was up by 5.6% to €1,359 million. Net profit hit €610 million, up by 6.9%.
Groupe ADP maintained its goal of reaching an average of €23 in retail revenue per passenger by 2020 after current infrastructure projects are delivered. The company’s ambitions were outlined during a media event in Paris in December, which can be accessed here.