Groupe ADP consolidated revenue up +78.9% [1], to 848 million euros (+69.3%, to 803 million euros excluding the integration of Almaty airport)
- Aviation activities: up +80.4%, to 322 million euros, due to the increase in traffic in Paris (+211.8%);
Groupe ADP revenue by segment for the first quarter of 2022 compared to the first quarter of 2021
Augustin de Romanet, Chairman and CEO, stated : "During the first quarter of 2022, the recovery in air traffic was confirmed in all our airports and it even accelerated in March, the group's total traffic reaching 72.4% of 2019 traffic last month, in line with our assumptions for 2022. As a result of this recovery in traffic, the group recorded consolidated revenue of 848 million euros for the first quarter of 2022, up +78.9% compared to the same period in 2021. Revenue from the International and Airport Developments segment was up +132.4%, due to a more pronounced recovery in traffic abroad and the integration of Almaty airport. Regarding the Retail and Services segment in Paris, the increase in passenger traffic in our terminals materializes into a Sales per passenger [4] ratio of 26.0 euros, a level that is pointing towards a normalization compared to 2021 and up 3.1 euros compared to 2019. Revenue in the Retail and Services segment in Paris doubled compared to the first quarter of 2021, to 270 million euros.
Groupe ADP's teams are fully mobilized to execute the 2025 Pioneers strategic roadmap. For the next three years, and until 2025, our ambition is to build the foundation of a new airport model focused on sustainability and performance, in line with societal and environmental expectations. The trajectory and the financial and extra-financial objectives that the group has set for 2025 reflect the attention paid to value creation for the benefit of all our stakeholders. In this context, Groupe ADP recently engaged into application process for the definition validation of its greenhouse gas emission reduction targets (scope 1, 2 and 3) by the SBTi (Science Based Target initiative), a joint program of the CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the WWF."
- Aviation activities: up +80.4%, to 322 million euros, due to the increase in traffic in Paris (+211.8%);
- Retail and services: up +99.8%, to 270 million euros linked to the recovery of traffic;
- Real estate: up +2.9%, to 85 million euros;
- International and airport developments: up +132.4%, to 205 million euros, due to the increase in traffic at TAV Airports (+79.5%) and in Amman (+195.4%), and the accounting integration of Almaty airport for +46 millions euros. Excluding Almaty, segment revenue would have increased by +80.5% to 159 millions euros.
- Groupe ADP traffic [2] : up +79.7%, to 47.0 million passengers in the first quarter of 2022 compared to the same period in 2021, standing at 62.6% of the 2019 first quarter traffic level;
- Paris Aéroport traffic: up +211.8% at 14.6 million passengers compared to 4.7 million passengers during the first quarter of 202, standing at 61.4% of the 2019 first quarter traffic level.
Groupe ADP revenue by segment for the first quarter of 2022 compared to the first quarter of 2021
| (in million of euro – unless otherwise stated) | Q1 2022 | Q1 2021 (1) | 2022/2021 |
| Revenue | 848 | 474 | +€374M |
| Aviation | 322 | 179 | +€144M |
| Retail and services | 270 | 135 | +€135M |
| of which Société de Distribution Aéroportuaire | 104 | 41 | +€64M |
| of which Relay@ADP | 14 | 3 | +€11M |
| Real estate | 85 | 83 | +€2M |
| International and airport developments | 205 | 88 | +€117M |
| of which TAV Airports | 148 | 60 | +€89M |
| of which AIG | 47 | 19 | +€27M |
| Other activities | 37 | 41 | -€5M |
| Inter-sector eliminations | (70) | (52) | -€19M |
| Paris sales per Pax (€) (2) | €26.0 | €30.0 | -€4.0 |
(1) The accounts of the management company of Almaty airport have been integrated into TAV Airports' consolidated accounts from May 2021 onwards (on the acquisition of the management company of Almaty airport, see page 13 of the 2021 half-year results, published on July 28th, 2021).
(2] Sales in airside shops divided by the number of departing passengers (Sales/PAX) in Paris.
Augustin de Romanet, Chairman and CEO, stated : "During the first quarter of 2022, the recovery in air traffic was confirmed in all our airports and it even accelerated in March, the group's total traffic reaching 72.4% of 2019 traffic last month, in line with our assumptions for 2022. As a result of this recovery in traffic, the group recorded consolidated revenue of 848 million euros for the first quarter of 2022, up +78.9% compared to the same period in 2021. Revenue from the International and Airport Developments segment was up +132.4%, due to a more pronounced recovery in traffic abroad and the integration of Almaty airport. Regarding the Retail and Services segment in Paris, the increase in passenger traffic in our terminals materializes into a Sales per passenger [4] ratio of 26.0 euros, a level that is pointing towards a normalization compared to 2021 and up 3.1 euros compared to 2019. Revenue in the Retail and Services segment in Paris doubled compared to the first quarter of 2021, to 270 million euros.
Groupe ADP's teams are fully mobilized to execute the 2025 Pioneers strategic roadmap. For the next three years, and until 2025, our ambition is to build the foundation of a new airport model focused on sustainability and performance, in line with societal and environmental expectations. The trajectory and the financial and extra-financial objectives that the group has set for 2025 reflect the attention paid to value creation for the benefit of all our stakeholders. In this context, Groupe ADP recently engaged into application process for the definition validation of its greenhouse gas emission reduction targets (scope 1, 2 and 3) by the SBTi (Science Based Target initiative), a joint program of the CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the WWF."
[1] This document is voluntarily made by Aéroports de Paris. See article 10 of the AMF recommendation - Guide de l'information périodique des sociétés cotées (DOC-2016-05).
[2] Unless otherwise stated, percentages and variations mentioned throughout the press release are comparing data for the first 3 month of 2022 with equivalent data for the year 2021.
[2] Unless otherwise stated, percentages and variations mentioned throughout the press release are comparing data for the first 3 month of 2022 with equivalent data for the year 2021.
[3] Group traffic includes the traffic of Delhi International Airport Limited (DIAL), Hyderabad International Airport Limited (GHIAL), Mactan-Cebu International Airport and Almaty International Airport traffic as of January 1st, 2019. Following the non-renewal on December 31st, 2021, of the technical assistance contract (TSA) relating to Mauritius airport, group traffic no longer includes traffic of Mauritius airport.
[4] Sales per passenger in the airside activities: shops, bars & restaurants, foreign exchange & tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area.
[4] Sales per passenger in the airside activities: shops, bars & restaurants, foreign exchange & tax refund counters, commercial lounges, VIP reception, advertising and other paid services in the airside area.
