Retail venture shines in Aeroports de Paris results

Gavin Lipsith

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The group’s transition from state authority to commercial entity gathers pace, with a strong contribution from its partnership with French retailer Aelia

French airport authority Aeroports de Paris has reported that turnover growth in the first quarter of 2007, to March 31, exceeded that of traffic, rising by 8.3% compared with passenger growth of 6.7%. Turnover reached Eu515.2m as a result of expansion in airport services as well as good performances from AdP’s real estate and subsidiaries, in particular the Societe de Distribution Aeroportuaire (SDA) retail joint venture with French travel retailer Aelia.

Commercial revenues rose 2.6% to Eu49.5m, although AdP said that excluding foreign exchange, the remaining commercial activities (shops, bars, restaurants, rentals and advertising) grew by more than 10%. Turnover in the group’s subsidiaries grew more than 33.4% to Eu70.4m. SDA’s turnover grew particularly strongly, rising 59.4% to Eu35m. The company attributed the growth to the extension of SDA’s participation in retail to Paris Charles de Gaulle terminal three and Paris Orly airport, following an agreement with Aelia signed last July. The airport group also increased its holding in the venture from 49% to 50% on January 1.

AdP chairman and CEO Pierre Graff said: "The strong growth in our turnover in the first quarter shows the group's capacity to capture traffic growth and also to develop its other activities, in particular its real estate activities and its subsidiaries."