Consolidated revenue over the first 9 months of 2021 driven by the gradual recovery of traffic in line with the group's forecasts

Consolidated revenue of Groupe ADP [1]
- Groupe ADP traffic [2]: up by +14.5%, at 104.9 million passengers over the first 9 months of 2021, compared to the same period in 2020, standing at 39.1% of the level of the first 9 months of 2019;
- Paris Aéroport traffic (Paris-Charles de Gaulle and Paris-Orly): down by -5.5%, at 26.3 million passengers over the first 9 months of 2021, compared to the same period in 2020, standing at 31.8% of the level of the first 9 months of 2019;
- Consolidated revenue: up by +11.9 %, at 1,868 million euros over the first 9 months of 2021, compared to the same period in 2020, mainly due to the effect of the recovery on the revenue of TAV Airports (+55.2%) and of AIG (+75.3%). Revenues from the Aviation and Real Estate segments remain stable, while revenue from the Retail and Services segment was up by +4.9%, at 534 million euros.
 

(in millions of euros – unless otherwise stated)	9M 2021	9M 2020	2021/2020
Revenue	1,868	1,669	+11.9%
Aviation	687	686	+0.1%
Retail and services	534	509	+4.9%
of which Société de Distribution Aéroportuaire	186	176	+5.7%
of which Relay@AD	21	17	+22.7%
Real estate	210	213	-1.2%
International and airport developments	488	334	+46.2%
of which TAV Airports (1)	353	227	+55.2%
of which AIG	106	60	+75.3%
Other activities	122	101	+20.8%
Inter-sector elimination	(173)	(174)	-0.2%
Paris Sales/Pax (€) (2)	21.1	18.6	+13.4%

(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.

Reminder of the 2021 assumptions and forecasts, unchanged since the publication of the 2021 half-year results [3]:
- Groupe ADP traffic assumption in 2021 between 40% and 50% of the 2019 group traffic;
- Paris Aéroport traffic assumption in 2021 between 30% and 40% of the 2019 Paris Aéroport traffic;
- EBITDA / Group revenue ratio forecast estimated between 15% and 20% in 2021;
- Annual investments amount in Paris, regulated and non-regulated (excluding financial investment) for 2021-2022, estimated between €500 and €550 million on average per year;
- Net financial debt ratio/EBITDA from 6x to 7x by the end of 2022.

Augustin de Romanet, Chairman and CEO, stated: "After a first half of 2021 still strongly impacted by the persistence of the Covid-19 pandemic, the recovery of traffic intensified over the 3rd quarter of the year, in line with the group's forecasts, stabilizing to a level slightly above 50% compared to 2019. Groupe ADP's traffic was thus up by +14.5% compared to the first 9 months of 2020, with a total of 104.9 million passengers, or 39.1% of the first 9 months of 2019 traffic. Over the same period, Paris Aéroport traffic was down by ‑5.5%, with 26.3 million passengers, or 31.8% of the first 9 months of 2019 traffic. Consolidated revenue over the first 9 months of 2021 was up by +11.9%, at 1,868 million euros, mainly due to the effect of the gradual recovery of traffic, more pronounced abroad, on the revenues of TAV Airports and AIG. In Paris revenue from the Retail and services segment has been supported by sales per passenger in airside shops, up by +13.4%, at 21.1 euros, reassuring the group in the effectiveness of its retail business model. Regarding some of the group's international assets, several actions are ongoing, including in the context of international arbitrations, towards the involved stakeholders in order to restore the economic balance of the projects. Groupe ADP is pursuing its efforts aiming at stabilizing its financial situation and maintains a satisfying cash position. Groupe ADP confirms its traffic assumptions and forecasts for 2021."