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Empresas y finanzas

Aeroports de Paris: Strong Revenue Growth in Full-Year 2007: +10.4%(1)


    Regulatory News:

    Aeroports de Paris: (Pink Sheets:AEOPF) (Paris:ADP):

    Cumulative revenues at 31 December 2007:

    -0-
    *T
    (EUR million) 31 December 2007 31 December 2006 % change
    ----------------------------------------------------------------------
    Airport services 1,836.9 1,726.4 +6.4%
    Airport fees 731.7 667.1 +9.7%
    Specialized services 112.2 103.7 +8.3%
    Commercial revenue 230.0 210.8 +9.1%
    Car parks and access fees 150.4 143.8 +4.5%
    Industrial services 69.2 68.8 +0.7%
    Airport security tax 366.4 356.3 +2.8%
    Rental revenue 82.7 70.4 +17.4%
    Other revenue 94.3 105.5 -10.6%
    Real estate 194.2 175.7 +10.5%
    Ground handling & other
    services 195.3 177.1 +10.3%
    Other activities 326.9 226.3 +44.4%
    Intersegment eliminations -260.9 -228.7 +14.1%
    ----------------------------------------------------------------------
    Consolidated revenue 2,292.4 2,076.8 +10.4%
    ----------------------------------------------------------------------
    *T

    Quarterly revenue growth:

    -0-
    *T
    (EUR million) Q1 Q1 Q2 Q2
    2007 2006 % change 2007 2006 % change
    ----------------------------------------------------------------------
    Airport services 414.9 396.1 +4.8% 457.4 431.3 +6.1%
    Real estate 47.6 41.2 +15.6% 47.8 45.2 +5.7%
    Ground handling & other
    services 43.4 38.5 +12.6% 50.1 44.3 +13.2%
    Other activities 70.4 52.7 +33.4% 76.2 55.8 +36.6%
    Intersegment eliminations -61.1 -52.9 +15.5% -65.4 -60.3 +8.4%
    ----------------------------------------------------------------------
    Total 515.2 475.6 +8.3% 566.2 516.2 +9.7%
    ----------------------------------------------------------------------

    (EUR million) Q3 Q3 Q4 Q4
    2007 2006 % change 2007 2006 % change
    ----------------------------------------------------------------------
    Airport services 491.4 446.6 +10.0% 473.2 452.4 +4.6%
    Real estate 48.9 44.1 +10.9% 49.9 45.2 +10.4%
    Ground handling & other
    services 53.2 49.8 +6.9% 48.6 44.6 +9.0%
    Other activities 85.4 54.6 +56.5% 94.9 63.3 +50.0%
    Intersegment eliminations -64.8 -54.0 +19.8% -69.7 -61.4 +13.4%
    ----------------------------------------------------------------------
    Total 614.1 540.9 +13.5% 596.9 544.0 +9.7%
    ----------------------------------------------------------------------
    *T

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

    "For the fourth consecutive year, Aeroports de Paris is the leader
    among Europe´s three largest airports in terms of traffic growth. Our
    strong revenue growth validates the pertinence of our strategy, which
    aims to make our airports more attractive and to develop our retail
    and real estate activities. Internationally, we continue to be
    commercially successful in a fiercely competitive environment,
    confirming the excellent reputation and solid expertise of our
    subsidiaries, ADPi and Aeroports de Paris Management."

    Key events during the period

    Aeroports de Paris ranks number one in traffic growth among
    Europe´s three largest airports

    Aeroports de Paris handled 86.4 million passengers in 2007, a
    record high. Passenger traffic growth was very robust, up 4.7%
    compared to the previous year. Traffic growth was particularly strong
    at the Paris-Charles de Gaulle airport, up 5.4% to 59.9 million
    passengers, while traffic at the Paris-Orly airport increased 3.2% to
    26.4 million passengers.

    During the year, passenger traffic reached a peak in March, and
    the summer season was also very strong: passenger traffic rose 6.2% in
    July, 8.0% in August and 5.4% in September, bolstered, for this last
    month, by the Rugby World Cup games. Labour unrest in the air
    transport sector had an estimated impact of 25 basis points on annual
    passenger traffic growth, two thirds due to strikes in October and a
    third to those in December. In terms of traffic growth, this
    performance places Aeroports de Paris among the leaders of Europe´s
    top five airports, and for the fourth consecutive year, it ranked
    number one among Europe´s three largest airports.

    Buoyant European and international traffic

    In 2007, passenger traffic was once again driven by very strong
    growth in European traffic, up 7%, building on the 8.3% growth
    reported in 2006. This is mainly due to the boom in low-cost carriers,
    which increased 27.5% at Aeroports de Paris airports in 2007, and
    accounted for 11% of Parisian traffic at the end of the year. In
    Europe, traffic by low-cost carriers increased 41.7% with the
    countries in the Schengen area, where most of the main cities served
    by LCCs are located (Nice, Milan, Barcelona, etc.).

    All in all, the strongest growth in European traffic was with
    Spain, up 15.2% and Italy, up 12.1%.

    In France, traffic declined 1.7% due to the opening of the new
    East TGV bullet train line in June 2007 and to labour unrest in the
    air transport sector in October and December.

    Traffic to other international destinations, including many
    sources of future growth, increased 5.9%. The biggest contributors to
    growth in 2007 were Africa (+7.8%), buoyed by a surge in North African
    traffic, and the Middle East (+14.7%), thanks to the dynamic growth of
    local airlines serving Dubai, Bahrain and Qatar. Latin America also
    reported strong traffic growth, up 6.9%, thanks to the rapid
    development of traffic with Brazil and the impact of September´s Rugby
    World Cup games on traffic with Argentina. Traffic with the French
    overseas territories rebounded 6.1% after a tough year in 2006. The
    Asia-Pacific region reported milder growth of 1.6%, reflecting feeble
    growth with India and Singapore, but buoyant traffic with China, up
    6.2%. Traffic in the mature North American market rose a satisfactory
    2.9%.

    The number of aircraft movements increased slightly, up 1.9% to
    776,801, with a 2% increase at Paris-Charles de Gaulle and a 1.6%
    increase at Paris-Orly. These figures reflect the improvement in the
    passenger load ratio (66.3% in 2007 vs 66.1% in 2006) and capacity
    (117 passengers per flight in 2007 vs 114 in 2006).

    The vigour of business jet traffic was confirmed, with
    70,775 aircraft movements, up 9.4% in 2007. The Paris-Le Bourget
    airport has been Europe´s leading business aviation airport since
    1981.

    The cargo and mail activity is still very robust, with cargo
    shipments up 7.5% to 2.41 million tons, including a 7.8% increase to
    2.3 million tons at Paris-Charles de Gaulle. Aeroports de Paris is the
    leader among European airports for cargo and mail.

    Revenues by segment (2)

    Revenue growth of 6.4% in airport services

    Revenues from airport services increased 6.4% to EUR 1,836.9
    million in 2007 thanks to robust passenger traffic growth, higher
    airport fees as of 1 April 2007 and strong growth in commercial
    revenues.

    -- Airport fee revenues (passenger fees and aircraft landing,
    parking, fuelling and lighting fees) were up 9.7% to EUR 731.7
    million, thanks to a 4.7% increase in passenger traffic, a
    1.9% increase in aircraft movements and the application of a
    4.25% rate hike as of 1 April 2007.

    -- Specialized services, a category consisting of ancillary fees
    (baggage handling, check-in counters, de-icing) and other
    services (VIP lounges, network leasing), generated revenues of
    EUR 112.2 million, up 8.3%.

    Baggage handling revenues increased strongly thanks notably to the
    increase in the amount of baggage handled, the fee increase on 1 April
    2007, and the full-year impact of the April 2006 start-up of the
    Terminal 2E South baggage sorting system at the Paris-Charles de
    Gaulle airport.

    In full-year 2007, de-icing services declined 7.8% due to the net
    decline in volumes handled. The increase in the number of de-iced
    planes since October 2007 only partially offset the sluggishness of
    this activity at the beginning of the year due to a particularly mild
    winter in 2006-07.

    -- Commercial revenues (shops, bars & restaurants, car rentals
    and advertising) increased 9.1% to EUR 230 million.

    Shops in restricted areas reported buoyant revenues, up 12.5%,
    thanks to strong passenger traffic growth and a net increase in
    business. These strong performances illustrate the pertinence of the
    Aeroports de Paris programme of expanding retail areas. The shops in
    the Galerie Parisienne reported excellent performances.

    The strong growth in bar and restaurant revenues was confirmed, up
    13.6% for the year.

    -- Car park and access revenues rose 4.5% to EUR 150.4 million
    despite the loss of a subsidy from the Ile de France transport
    union (STIF), previously accounted for in this segment, which
    was eliminated with the start-up of the CDG Val automatic
    shuttle on 1 April 2007. Excluding the STIF effect, the
    healthy growth of this activity was confirmed, up 9.5%, buoyed
    by the ongoing increase in hourly revenues and subscriptions.

    -- Revenue from industrial services (such as power and water
    supply) increased 0.7% to EUR 69.2 million. All activities
    contributed to this full-year performance with the exception
    of heating, air conditioning and cooling services. These
    services were hit by the decline in the adjustable part of
    rates applicable to thermal energy, which are indexed to gas
    purchase prices, and to smaller volumes of heating sales
    during the very mild winter of 2006-07.

    -- Airport security tax revenue, which mainly finances
    security-related activities, increased 2.8% to EUR 366.4
    million.

    -- Rental revenues from leasing space in air terminals rose a
    buoyant 17.4% to EUR 82.7 million over the full year. This
    robust performance is due to the indexation of prices to the
    cost of construction index, up 7.05% since 1 January 2007, and
    to the leasing of new retail areas in airport terminals,
    notably La Galerie Parisienne in the Paris-Charles de Gaulle
    airport in the second half of 2007.

    -- Other revenues declined 10.6% to EUR 94.3 million. This is
    mainly due to the reduction in services for the Civil Aviation
    Authorities (DGAC) and the end of the Aerobus service in June
    2006.

    Real estate segment (excluding terminals) continues to develop
    rapidly

    The strong revenue performance of the real estate segment, up
    10.5% to EUR 194.2 million in 2007, can be attributed to a combination
    of several factors:

    -- Higher rents, indexed to the cost of construction index, up
    7.05% at 1 January 2007,

    -- The full-year impact of marketing new surface areas leased in
    2006 (Air France Maintenance Hub, West Maintenance Hub for the
    future A380 and the Fedex logistics centre at the
    Paris-Charles de Gaulle airport),

    -- The start-up of marketing for the new GB2 cargo station at the
    Paris-Charles de Gaulle airport as of 1 July 2007, accompanied
    by the leasing of additional surface areas in the GB4 cargo
    station,

    -- Renegotiation and regularisation of certain rates,

    -- Regularisation of rental charges combined with better
    rebilling.

    Ground handling: business picks up in a restructuring context

    Ground handling and related services generated revenues of EUR
    195.3 million in 2007, up 10.3% from the previous year. All activities
    contributed to this performance (ground handling, security and other
    services).

    Revenues from ground-handling services rose 8.3%, benefiting from
    new contracts signed in a fiercely competitive environment in 2006 and
    2007, notably with Vueling, Varig, Fly Niki and BMI Baby at the
    Paris-Charles de Gaulle airport and with TUI at the Paris-Orly
    airport.

    Other activities (subsidiaries and joint ventures) report very
    strong revenue growth

    Other activities generated full-year revenues of EUR 326.9
    million, up 44.4%.

    -- Owned in partnership with the airport-retailing expert Aelia,
    Societe de Distribution Aeroportuaire (SDA) operates shops
    specialising in alcohol, tobacco, perfume and cosmetics in all
    of the Aeroports de Paris terminals as well as the gourmet
    food shops in Terminal 2F. SDA´s contribution increased 63.9%
    to EUR 163.6 million.(3) Its scope of business (excluding
    gourmet food) was expanded to Terminal 3 at Paris-Charles de
    Gaulle on 1 November 2006 and to the two terminals at
    Paris-Orly (Orly Sud and Orly Ouest) on 1 January 2007,
    creating a consolidation effect of 46.7%. Excluding this
    consolidation effect, SDA´s contribution rose 17.2%, thanks to
    buoyant sales in shops located in restricted areas.

    -- Hub Telecom reported full-year revenues of EUR 84.6m, up
    14.4%. Acquired on 12 July 2007, BGI Technologie, a Lyon-based
    specialist in mobile solutions for companies, with expertise
    in traceability, geopositioning and video monitoring, reported
    revenues in line with expectations. Excluding the
    consolidation effect, Hub Telecom´s revenue growth was 6.9 %.

    -- ADPi, the engineering subsidiary specialising in international
    design, architecture and engineering services, expanded at a
    remarkable pace in 2007, with revenues up 90.5% to EUR 64
    million. This performance reflects its commercial success,
    notably in the Middle East and Africa, with the signing of new
    contracts in Libya (Tripoli, Benghazi and Sebah airports),
    Saudi Arabia (Jeddah airport, including the renovation of the
    Hajj terminal and extension of the North and South terminals),
    the Sultanate of Oman and Pakistan (Islamabad), as well as in
    South America (Bogota, Colombia).

    -- Aeroports de Paris Management, the airport management
    subsidiary with stakes in other airport companies, generated
    revenues of EUR 10.6 million, up 32.8%. The subsidiary
    benefited from the signing of new contracts and investment in
    minority stakes, notably a 25-year operating contract for the
    Queen Alia airport in Amman, Jordan, and a management contract
    for the Hajj Terminal of the Jeddah airport.

    Upcoming events:

    Full-year 2007 earnings will be released on 13 March 2008, with a
    press conference at 8:30 a.m. and an analysts meeting at 10:30 a.m.,
    to be broadcast live on our website: http://www.aeroportsdeparis.fr/ .

    First-quarter 2008 revenues: 14 May 2008

    Annual General Meeting of shareholders: 28 May 2008

    (1) Unless indicated otherwise, all percentages in this press
    release compare 2007 data with comparable data from 2006.

    (2) Before intersegment eliminations

    (3) ADP´s share

    www.aeroportsdeparis.fr

    Aeroports de Paris builds, develops and manages airports including
    Paris-Orly, Paris-Charles de Gaulle and Paris-Le Bourget. Aeroports de
    Paris is Europe´s second-largest airport services group in terms of
    airport revenues and the European leader for cargo and mail. Aeroports
    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 is pursuing its strategy of modernizing its terminal
    facilities and upgrading the quality of services, and also intends to
    develop its retail and real estate business. In 2007, Aeroports de
    Paris Group had revenues of EUR 2,292.4 million and handled 86.4
    million passengers.