Aeroports De Paris: First-Half 2007 Revenues up 9%

  
    
  
  
    
      Regulatory News:
    
    
      Aéroport de Paris (Pink Sheets:AEOPF) 
      (Paris:ADP):
    
    
      
        Revenues rise strongly to €1,081.4 million
      
      
        Revenue growth (+9%) surpasses passenger traffic growth (+4.4%)
      
      
        Retailing makes a strong contribution, thanks to Société 
        de Distribution Aéroportuaire
      
    
    
      
        
          Revenues

          
            (millions of euros)
          
        
        
           
        
        
          
            30 June 2007
          
        
        
           
        
        
          
            30 June 2006
          
        
        
           
        
        
          % change
        
      
      
        
          Airport services
        
        
        
        
          872,3
        
        
        
        
          827,4
        
        
        
        
          +5,4%
        
      
      
        
          Airport fees
        
        
        
        
          345,4
        
        
        
        
          315,3
        
        
        
        
          +9,6%
        
      
      
        
          Specialized services
        
        
        
        
          52,7
        
        
        
        
          49,4
        
        
        
        
          +6,8%
        
      
      
        
          Commercial revenues
        
        
        
        
          107,0
        
        
        
        
          101,3
        
        
        
        
          +5,6%
        
      
      
        
          Car parks and access fees
        
        
        
        
          74,4
        
        
        
        
          71,6
        
        
        
        
          +3,9%
        
      
      
        
          Industrial services
        
        
        
        
          36,5
        
        
        
        
          37,6
        
        
        
        
          -3,0%
        
      
      
        
          Airport taxes
        
        
        
        
          174,8
        
        
        
        
          167,2
        
        
        
        
          +4,5%
        
      
      
        
          Rental revenue
        
        
        
        
          38,1
        
        
        
        
          33,6
        
        
        
        
          +13,1%
        
      
      
        
          Other revenue
        
        
        
        
          43,4
        
        
        
        
          51,4
        
        
        
        
          -15,5%
        
      
      
        
          Ground handling & other services
        
        
        
        
          93,5
        
        
        
        
          82,8
        
        
        
        
          +12,9%
        
      
      
        
          Real estate
        
        
        
        
          95,5
        
        
        
        
          86,4
        
        
        
        
          +10,5%
        
      
      
        
          Other activities
        
        
        
        
          146,6
        
        
        
        
          108,5
        
        
        
        
          +35,1%
        
      
      
        
          Intersegment eliminations
        
        
           
        
        
          -126,5
        
        
           
        
        
          -113,2
        
        
           
        
        
          +11,7%
        
      
      
        
          Consolidated revenues
        
        
           
        
        
          1 081,4
        
        
           
        
        
          991,8
        
        
           
        
        
          +9,0%
        
      
    
    
      Pierre Graff, Chairman and CEO of Aéroports 
      de Paris, commented on these figures:
    
    
      "The strong revenue growth in the first half of 2007, up 9%, is 
      further proof of our quality assets, which enables us to attract traffic 
      growth. This performance also confirms the pertinence of our retail 
      strategy, thanks notably to the extremely dynamic business of Société 
      de Distribution Aéroportuaire."
    
    
      Revenues rise faster than passenger 
      traffic growth
    
    
      Passenger traffic at Aéroports de Paris rose 
      4.4% to 41.5 million passengers in H1 2007 compared to the year-earlier 
      period. Passenger traffic was up 4.9% to 28.5 million passengers at the 
      Paris-Charles de Gaulle airport and 3.4% to 13 million passengers at the 
      Paris-Orly airport. This trend confirms the group's capacity to capture 
      traffic growth, thanks notably to the complementary nature of its 
      airports.
    
    
      Revenues amounted to €1,081.4 million in H1 
      2007, up a buoyant 9% compared to H1 2006, surpassing passenger traffic 
      growth. This performance can be attributed not only to airport services 
      but also to the dynamic momentum of other activities, notably Société 
      de Distribution Aéroportuaire.
    
    
      Airport services
    
    
      Revenue from airport services increased 5.4% to €872.3 
      million, thanks to robust passenger traffic growth, airport fee 
      increases and higher retail revenues.
    
    
      Lifted by passenger traffic growth (+4.4% to 41.5 million passengers) 
      and rate increases (+4.25% at 1 April 2007), airport fee revenues 
      rose 9.6% to €345.4 million.
    
    
      Specialized services, a category consisting of auxiliary services 
      (baggage handling, check-in counters, de-icing) and other services (VIP 
      lounges, network leasing), generated revenues of €52.7 
      million, up 6.8%. The number of de-iced planes decreased by 69% due to 
      mild weather conditions. This was offset by a strong rise in baggage 
      handling fees, up 21.1%, mainly due to Paris-Charles de Gaulle, where a 
      new fee schedule was introduced at Terminal 1 and the South baggage 
      sorting system was started up at Terminal E.
    
    
      Commercial revenues rose a total of 5.6% to €107 
      million. Duty-free shops reported buoyant business, with revenues up 
      7.5% in H1 2007 compared to the year-earlier period.
    
    
      Car park revenue rose 3.9% to €74.4 
      million. Excluding the STIF subsidy from the Ile de France transport 
      union, which the group no longer receives since the CDGVal light rail 
      line began operating on 1 April 2007, growth was a strong 6.9%.
    
    
      Revenue from industrial services (such as power and water supply) 
      contracted 3% to €36.5 million. This trend 
      reflects the decline in thermal units sold, due to mild weather last 
      winter, and to energy price fluctuations.
    
    
      Airport tax revenue, which finances security-related activities, 
      increased 4.5% to €174.8 million. This 
      increase reflects the combined impact of traffic growth and the French 
      government's increase in the airport tax to cover reinforced security 
      measures in effect since 6 November 2006.
    
    
      Rental revenue from leasing space in air terminals rose 13.1% to €38.1 
      million mainly due to the indexation of prices to the cost of 
      construction index, up 7% since 1 January 2007. The leasing of new 
      surface areas in the Paris-Orly and Paris-Charles de Gaulle airports, 
      notably at the CDG 2E terminal, also lifted revenues.
    
    
      Other revenues contracted 15.5% to €43.4 
      million due to the reduction in services for the air traffic control 
      department and to the decline in intersegment revenues.
    
    
      Ground handling and related services
    
    
      Ground handling and related services generated revenues of €93.5 
      million, up 12.9% compared to H1 2006, a period hard hit by the loss of 
      major contracts in late 2005. Within this segment, revenues from 
      security services rose strongly, up 26.5%.
    
    
      Real estate (excluding terminals)
    
    
      Real estate revenues rose 10.5% to €95.5 
      million, bolstered by the 7% increase in the cost of construction index. 
      Growth was also driven by the leasing of new surface areas to 
      accommodate the West Maintenance Base for the future A380, the Fedex 
      logistics centre and the Paris-Charles de Gaulle hub maintenance centre.
    
    
      Other activities
    
    
      Other activities generated revenues of €146.6 
      million, up 35.1%. This growth reflects the contribution of the 
      segment's four subsidiaries: Société 
      de Distribution Aéroportuaire, Hub Télécom, 
      ADPi and Aéroports de Paris Management.
    
    
      Société de 
      Distribution Aéroportuaire (SDA) made the 
      biggest contribution. Owned in partnership with Aelia, this airport 
      retailing expert operates shops specialising in alcohol, tobacco, 
      perfume and cosmetics in all of our terminals. SDA generated revenues of €74.4 
      million, up 56.3%,1 buoyed by the combined 
      impact of organic growth, thanks to passenger traffic growth, and the 
      expansion of its scope of business to Paris-Charles de Gaulle Terminal 3 
      and the two terminals at Paris-Orly (Orly Sud and Orly Ouest). Excluding 
      this consolidation effect, SDA's contribution rose 13.1% in H1 2007 
      compared to the year-earlier period, fuelled by buoyant sales by 
      duty-free shops.
    
    
      Hub Télécom 
      contributed €38.7 million, up 7.1% compared 
      to the same period in 2006. The ongoing decline in fixed telephone 
      services was offset by the increase in corporate and consumer WiFi and 
      the development of other services.
    
    
      ADPi, the engineering subsidiary specialising in international 
      design, architecture and engineering services, grew an impressive 80% to €27 
      million, thanks to new contracts, notably in Jeddah (Saudi Arabia) and 
      Bogotá (Colombia).
    
    
      Aéroports de Paris Management, the 
      airport management subsidiary with stakes in other airport companies, 
      contributed revenues of €4.2 million, up 
      23.2%, thanks to new contracts, notably in Jeddah (Saudi Arabia) and 
      Amman (Jordan). On 26 February 2007, Aéroports 
      de Paris Management sold its entire stake in Beijing Capital 
      International Airport Company Limited (BCIA)2 
      for a net amount of €188.9 million.
    
    
      AGENDA
    
    
      Publication of first-half 2007 results: 31 August 2007
    
    
      Publication of third-quarter 2007 revenues: 14 November 2007.
    
    
      About Aéroport de Paris
    
    
      Aéroports de Paris builds, develops and 
      manages airports including Paris-Orly, Paris-Charles de Gaulle and 
      Paris-Le Bourget. Aéroports de Paris is 
      Europe's second-largest airport services group in terms of airport 
      revenues and the European leader for cargo and mail. Aéroports 
      de Paris accommodates nearly 460 airlines, including the main companies 
      in the air transport industry.
    
    
      With an exceptional geographic location and a major trading area, the 
      Group's strategy is to modernize its terminal facilities and upgrade the 
      quality of services. It also intends to develop its retail and real 
      estate business. In 2006, Aéroports de Paris 
      Group had revenues of €2,076.8 million, and 
      handled 82.5 million passengers.
    
    
      www.aeroportsdeparis.fr
    
    
      1 Proportional consolidation was increased to 
      50% from 49% on 1 January 2007.
    
    
      2 ADPm acquired a 35% stake in BCIA at the time 
      of its IPO on the Hong Kong stock exchange in February 2000.