FRANCE. Groupe ADP Retail & Services revenue climbed by +22.5% year-on-year in 2023 to reach €1,766 million, with airside sales per passenger reaching a new high of €30.60, €3.20 ahead of 2022 and up by €7.10 compared to 2019.
The company said that sales per passenger at Extime Paris outlets (representing ADP’s set of joint ventures with key partners at the Paris airports) are forecast to rise by +3-5% by 2025, outstripping the previously expected figure of €29.50.
Extime Duty Free Paris revenues grew by +19.8% last year to €756 million while Extime Travel Essentials Paris revenues rose +23.3% to €118 million. Both JVs are in partnership with Lagardère Travel Retail.
Passenger traffic at Paris Charles de Gaulle and Orly airports increased by +15.1% year-on-year to 99.7 million (92.3% of 2019 numbers), while groupwide volumes reached 336.4 million, up by +20.2% (98.7% of 2019 numbers).
Groupe ADP Customer Director Mathieu Daubert said: “2023 was an outstanding year for our commercial activities, with strong growth in traffic coupled with strong growth in our airside sales per passenger, reaching a record €30.60.
“Our performance reflects the successful launch of our global Extime project, in which all the components of the project – new brand, new venues, new digital ecosystem Extime Rewards and extime.com, and new operators – have contributed to the growth.
“The first Extime premium Boutique Terminal at Charles de Gaulle Terminal 1, opened in December 2022, has performed particularly well since its first year of operation, setting a new standard in sales per passenger that no-one had achieved before. Our digital ecosystem is also fully operational, with 2.7 million members already enrolled in our Extime rewards loyalty programme, and an Extime.com marketplace in place.
“Finally, all our Extime sub-brands (Extime Duty Free Paris, Extime Lounge) and operators (Extime Duty Free Paris, Extime Food & Beverage Paris, Extime Media, Extime Travel Essentials Paris) are now fully deployed, working in synergy to offer our passengers and customers the best possible experience.
“In 2024, we will continue to roll out our project, with the opening of the Extime Campus, serving and training our teams, and the opening of our first Extime Exclusive Boutique Terminal at Charles de Gaulle, just before the Olympic Games.”
Overall group revenue reached €5,495 million in the year, up +17.2%, driven by traffic growth in Paris and abroad plus strong momentum in retail activities.
EBITDA reached €1,956 million, up +14.8%, with EBITDA margin at 35.6% of revenue, in line with the target range of 32% to 37%. Net profit climbed +22.2% to €631 million.
Looking ahead, in 2024 passenger traffic in Paris is expected to grow by +3.5% to +5% compared to 2023. In 2025, it is expected to grow by +2.5% to +4.0% compared to 2024. Groupe ADP said it expects EBITDA growth to be above +4% in 2024 and above +7% in 2025. ✈
