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Home > Group > Press > Press releases > 2006 > Revenues Rises September 2006

Aéroports de Paris
7.2% revenue growth at 30 September 2006

Paris, le 10 novembre 2006


• Revenues rise faster than passenger traffic growth
• Strong increase in revenues to €1,528 million

 

Revenues
(thousands of euros)

At 30 September 2006

At 30 September
2005

% change

Airport services

1,273,925

1,190,562

+ 7.0%

Airport fee

501,033

473,363

+ 5.8%

Specialized services

75,013

66,841

+ 12.2%

Commercial revenue

155,137

144,161

+ 7.6%

Car parks and access fees

 108,018

102,747

 + 5.1%

Industrial services

48,339

41,692

+ 15.9%

Airport taxes

264,825

236,453

+ 12.0%

Rental revenue

51,557

44,280

+ 16.4%

Other revenue

70,003

81,025

- 13,6%

Ground handling & related services

132,563

133,927

-1,0%

Real estate

125,642

118,236

+6.3%

Other activities

163,077

139,133

+17.2%

Intersegment eliminations

(167,245)

(157,164)

+ 6.4%

Consolidated revenues

1,527,962

1,424,694

+7.%

 

Pierre Graff, Chairman and CEO of Aéroports de Paris, commented on these figures:

"At the end of September, revenue growth was very strong at 7.2%. This growth can be attributed in part to higher revenues from airport services, driven notably by a 4.6% increase in passenger traffic, higher rates for airport fees and the dynamic momentum of commercial activities. It also reflects ongoing growth in our realestateactivities and subsidiaries."

The figures presented below are before intersegment eliminations.

Airport services: revenue increases 7%

Revenue from the airport services segment rose 7% to €1,273.9 million.

Airport fee revenues, which include landing, passenger, aircraft parking, fuelling and lighting fees, rose 5.8% to €501 million. Three factors contributed to this increase: strong passenger traffic growth, up 4.6% to 62.5 million passengers, the increase in aircraft movements, up 2.9% to 572,400 movements and higher fees, which were raised 5% on 15 May 2006, with an average price effect of 2.9% for the period.

Revenue from specialized services, a category consisting of fees for auxiliary services (baggage handling, check-in counters, de-icing) and other services (VIP lounges, network leasing), rose 12.2% to €75 million. Revenue growth is mainly due to the start-up of new baggage sorting modules at Paris-CDG terminal 2 (TBR and STB) and the application of new rates for the use of certain baggage handling equipment in terminal 2A. De-icing services declined in comparison to a particularly rough winter in 2005.

Commercial revenues (shops, bars, restaurants and car rentals) increased 7.6% to €155.1 million, thanks mainly to dynamic advertising revenues and buoyant retail business in duty-free areas, lifted by passenger traffic growth on international routes. Tighter security measures for flights to the United States, the UK and Israel as of August 2006 had a limited impact on Q3 2006, estimated at about €1 million. Most of this impact occurred between 10 August and 4 September, when there was a total ban on carrying liquids on board flights to these three destinations. Since then, security measures have eased and sales have gradually recovered.

Car park revenue rose 5.1% to €108 million, which mainly reflects the increase in the average ticket price in the hourly parking areas of Paris-Charles de Gaulle and Paris-Orly.

Revenue from industrial services (such as power and water supply) increased 15.9% to €48.3 million, mainly due to higher natural gas and electricity prices.

Rental revenue from leasing space in terminals rose 16.4% to €51.6 million thanks to the opening of new surface areas, notably in satellite "aire hotel" linked to Paris-CDG 2E as of June 2005, and the leasing of additional space for Air France lounges.

Airport tax revenue, which covers the cost of security-related activities, increased 12% to €264.8 million due to the combined impact of passenger traffic growth and the increase in the tax rate (€8.5 per departing passenger in 2006 vs €7.95 in 2005).

Other revenues declined 13.6% to €70 million reflecting changes in the scope of consolidation. The transfer of ADP's air traffic control assets to the French state reduced the amount of supplementary budget payments by the French Civil Aviation department to Aéroports de Paris.

Ground handling and related services revenues stabilized in the Q3

Revenue from ground handling and related services declined 1% to €132.6 million due to two contrasting trends.

Revenue strictly from ground handling services contracted by €5.7 million, since the loss of major contracts in 2005 was not offset by new customers in 2006.

Other revenues in this segment, which includes security sub-contracting, trolley recycling and related services, rose 13%.

Real estate (excluding terminals): ongoing revenue growth

Real estate revenues rose 6.3% to €125.6 million.

Growth was mainly due to the leasing of new areas of undeveloped land and buildings in 2006, notably land leased to La Poste at Paris-Orly, and to Air France-KLM (for the new flight crew complex) and Servair-Acna (catering centre) at Paris-CDG.

Subsidiaries report strong revenue growth

Other activities
generated revenues of €163.1 million, up 17.2%, thanks to the performances of the segment’s four subsidiaries: Hub Telecom, Société de Distribution Aéroportuaire, ADPi (engineering) and ADPm (management).

The contribution of Société de Distribution Aéroportuaire (SDA) to Group revenues rose 23.7% to €71.8 million thanks to the combination of sales growth, buoyed by the increase in passenger traffic, especially on key international routes, and the geographical expansion of its activity to the Paris-CDG1 terminal, which took effect at the beginning of the year.

Hub Telecom’s contribution rose 6.9% to €54.6 million, fuelled mainly by ongoing growth in its data transmission activities (corporate networks and WiFi).

The contribution of ADP Management rose 40.4% to €4.8 million, while ADPi reported a 15.4% increase to €23.8 million.