“In the first quarter of 2012, traffic grew by 3.7%, with a particularly dynamic intercontinental traffic,
up by 5.7%. Combined with the excellent performance of our retail activities, this increase allows
the revenue of the Group to grow by 2.4%, despite a lower activity at some subsidiaries’ level.
Thanks to the ongoing deployment of our retail strategy, the sales per passenger of shops in
restricted areas continues its tremendous growth and now stands at €16.3, up by 8.3%
In addition, we opened late March the building of junction between terminals 2A and 2C at Paris-
Charles de Gaulle. Designed at the best international standards in terms of quality of service, this
facility will allow us to accommodate our passengers in the best conditions.
The quarter’s results are encouraging and we can confirm our 2012 targets. In an uncertain
economic environment, we assume a moderate growth in traffic, revenue and EBITDA.”
Traffic
Over the first 3 months of 2012, traffic increased by 3.7% with 19.6 million passengers handled: it
was up by 4.3% at Paris-Charles de Gaulle (13.5 million of passengers) and by 2.4% at Paris-Orly
(6.0 million of passengers).
Affected in 2011 by the unfavorable geopolitical context in some countries in Africa and Middle-
East and to a lesser extent by the effects of the earthquake in Japan, international traffic (40.8% of
total traffic) was up by 5.7% over the period. All destinations grew strongly: French overseas
territories +11.9%, Latin America +6.7%, Middle-East +6.6%, North America +5.9%, Asia-Pacific
+4.9% and Africa +3.1%. Traffic with Europe excluding France (40.1% of total traffic) was up by
3.3%. Traffic with France (19.1% of total traffic) was up by 0.5%.
Connecting passengers were up by 10.2% and the connecting rate reached 26.4% of total traffic
against 25.0% over the first 3 months of 2011.
Air traffic movements (171,000) declined by 1.4%.
Cargo and were down by 7.1% to 546,000 tons handled.
Integration of fashion and accessories activities into Societe de Distribution Aeroportuaire
As of January 2012, Societe de Distribution Aeroportuaire, company owned at 50% by Aeroports
de Paris and at 50% by Aelia, a subsidiary of Lagardere Services, integrated all the Fashion and
Accessories activities operated so far by Aelia, via a subsidiary.
Opening of the junction between terminals 2A and 2C of Paris-Charles de Gaulle
Opened 30 March 2012, this new building allows to pool Border Police and Security checkpoints of
the terminals 2A and 2C and has 2,200 sqm of retail space.
Acquisition of 38% of TAV Airports and 49% of TAV Construction
Aeroports de Paris Management – a wholly owned subsidiary of Aeroports de Paris – entered into
share purchase agreements signed on 11 March 2012, with Akfen Holding A.S. (gAkfen Holdingh),
Tepe .nsaat Sanayi A.S. (gTepe .nsaath) and Sera Yap. Endustrisi ve Ticaret A.S. (gSera Yap.h)
with respect to the purchase of a portion of shares of TAV Havalimanlari Holding A.S. (gTAV
Havalimanlari Holdingh or “TAV Airports”) and TAV Yatirim Holding A.S. (gTAV Yatirim Holdingh,
owner of TAV Construction, an unlisted company).
Leading airport operator in Turkey, TAV Airports manages 12 airports in 9 counties, of which
Istanbul Ataturk airport which handled around 38 million of passengers in 2011.This partnership will
create one of the largest airport alliances in the world, managing directly or indirectly around
180 million of passengers in 37 airports.
38% of TAV Airport’s issued share capital shall be acquired for a consideration of $874 million and
49% of TAV Construction’s issued share capital shall be acquired for a consideration of $49 million.
The operation m ay be effective in May 2012.
Change in the financial statements presentation
From the year ended 31 December 2011, Aéroports de Paris has adopted a new financial
statements presentation consisting of the implementation of the option offered by the standard on
Interests in Joint Ventures (IAS 31) and consolidating jointly controlled entities using the equity
method. This change in methodology allows to comply with IFRS 11 which removes the method of
proportionate consolidation and to provide more relevant information, this practice being commonly
used in the airport sector.
A distinction is now made between the “profit/loss of associates from operating activities” and the
“profit/loss of associates from non-operating activities”.
The net result of associates from operating activities is accounted for between the EBITDA and the
Operating Income from Ordinary Activities. It consists of Retail JVs, Real Estate JVs and the stake
in Schiphol Group.
The net result of associates from non-operating activities is accounted for as previously, below the
operating income. It consists of the other associates.
Furthermore, the sale of the 80% stake in Alyzia group resulted in the removal of the segment
“Ground handling and related services”. The ground handling activities of Alyzia group are
accounted for “discontinued activities” under IFRS 5 and the 100% stake in Alyzia Sûreté (Security)
is transferred to the segment “Other activities”.
From 1 January 2012, the 20% share of the net result of the residual stake in Alyzia group is
accounted for “profit/loss of associates from non-operating activities”.
Q1 2011 pro forma financial statements have been prepared in accordance with the changes
described above.
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Source: Aéroports de Paris
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