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FRANCE. Aéroports de Paris’ (AdP) revenue from its Retail & Services division climbed by +9% year-on-year in Q1 2012, hitting €220 million.
Revenue from retail was up by +11.4% to €75 million. Rents from shops in restricted areas increased by +16.6% to €54 million, driven by a strong increase in sales per passenger (+8.3% to €16.30).
In the duty free stores (operated by AdP with LS travel retail under the Société de Distribution Aéroportuaire name), sales per passenger improved by +6.3% to €29.60. AdP noted: “This good performance was due to strong growth in traffic on routes where the passengers tend to spend more, such as Russia, and by the continued good performance of fashion & accessories and gastronomy activities.”
Other rents (from shops in public areas, bars and restaurants, advertising, banking and foreign exchange activities, and car rental companies) were stable and amounted to €21 million.
Revenue from car parks rose slightly by +2.0% to €38 million in the quarter.
For the group, consolidated revenue was up by +2.4% to €599 million.
Over the first three months of 2012, traffic increased by +3.7% with 19.6 million passengers handled: it was up by +4.3% at Paris-Charles de Gaulle (13.5 million passengers) and by +2.4% at Paris-Orly (6.0 million passengers).
International traffic (40.8% of total traffic) was up by +5.7% over the period. All destinations grew strongly: French overseas territories +11.9%, Latin America +6.7%, Middle-East +6.6%, North America +5.9%, Asia Pacific +4.9% and Africa +3.1%. Traffic with Europe excluding France (40.1% of total traffic) was up by 3.3%. Traffic within France (19.1% of total traffic) was up by +0.5%.
The quarter also saw Société de Distribution Aéroportuaire integrate all of the fashion & accessories activities operated previously by Aelia, via a subsidiary.
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AdP Chairman & CEO Pierre Graff said: “In the first quarter of 2012, traffic grew by +3.7%, with particularly dynamic intercontinental traffic, up by +5.7%. Combined with the excellent performance of our retail activities, this increase allowed the revenue of the group to grow by +2.4%, despite a lower activity at some subsidiaries’ level.
“Thanks to the ongoing deployment of our retail strategy, the sales per passenger of shops in restricted areas continues its tremendous growth. In addition, we opened in late March the building of a junction between terminals 2A and 2C at Paris Charles de Gaulle. Designed to the best international standards in terms of quality of service, this facility will allow us to accommodate our passengers in the best conditions.
“The quarter’s results are encouraging and we can confirm our 2012 targets. In an uncertain economic environment, we assume a moderate growth in traffic, revenue and EBITDA.”
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