5 may 2015
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5 May 2015 In line with 2015 forecasts Strong performance of TAV Airports Strong growth of sales/PAX thanks to


  1. ��������������� 5 May 2015

  2. ������������������ In line with 2015 forecasts � ������� Strong performance of TAV Airports � Strong growth of sales/PAX thanks to the new central square of � ������ Hall K of 2E Terminal with Cartier, Dior, Hermès and Chanel 1 Worldclass award and 2 distinctions for Paris5CDG (1) � − Best ranking improvement among airports (+47 ranks) ������� ���������� 5 th best airport for shopping − − 6 th best terminal (Hall M of 2E Terminal) Aimed at simplifying readability of segment performance �������������� � ���������������� − No impact on consolidated key metrics (1) Skytrax ranking Q1 2015 Revenue │ 1

  3. ������ ��������������������������� ����������� ��!"�# Growth driven by Aviation (+5.8%) and Retail (+8.0%) performance In €m ,������������ Airside shops: +€5m �������� Advertising: +€1m ADP Ingénierie: +€2m �������-!"�# Incl. Security: +€5m De5icing: +€4m � � Incl. � &�' &!' &(' Tariffs: +€6m % Traffic: +€2m �! $ ))� )(% *������� ������ +��������� 51.6% +12.6% +2.7% +4.3% +5.8% +2.1% Q1 2014 Airport Other Retail Industrial Others(1) Real Estate International Other Inter Q1 2015 pro forma fees aero. Services & activities segments Airport Dev. elim. (1) Mostly internal revenue Q1 2014 figures are pro forma. Please refer to slide 10 Q1 2015 Revenue │ 2

  4. 4���������������������� ������ ������������ *2�����������3������*�&��������������'� &�' �� ��������� +�*��������� /����������������� *������� ������ +��������� �����.����� 1���� *��������� *������ 0����������� 5(6$� 5���� 5)!� 5�$� 5!$� +12.6% +2.7% +5.8% +2.1% 51.6% *�������0�����8 *�����������8������������ +4.0%, to €214m *03�/��2������� (100%5 � Traffic: +2.0% ������8� +8.0%, to €92m � owned): +19.8%, to ��������+�7� �����8 Tariffs: +2.95% Airside shops: +8.7% €15m � � �� �1��� (100%5owned): � Sales/pax: +9.7% to � +2.8%, to €31m *�������� ����8������������������� €19.8 ,��� ���������������� *�������7��������� +14.5%, to €51m ����98 50.98% *037 (100%5owned): � De5icing fees: +89.6% ,������:�8 53.3% to €41m � ��������8 512.6%, to €3m �� ����� (100%5owned) : � ������������ ������� /��������� ��������8�������� +8.6%, to €17m ������ ������������ +3.1%, to €37m Associates include TAV Airports (38%5 owned), TAV Construction (49%) and ��������8� +4.5%, to Schiphol (8%) and are accounted for €119m using the equity method ��������4������������� &�' -!"�#����5))�� (1) Including inter5segment eliminations of €76m (+4.3%) Q1 2014 figures are pro forma. Please refer to slide 10 Q1 2015 Revenue │ 3

  5. *03�4������������ Group traffic remains driven by TAV Airports ADP vs peers Monthly change in ADP traffic Q1 2015 vs. Q1 2014 mpax �� �� �( �! ����8�-�"�# -��"��#� 2014: +4.6% 2014: 50.6% 2014: +3.2% 3����;,04�-�1�< �� 2014: +3.6% Monthly In Mpax Var. + 2.0 % =�����;�������� �) 9 +8% + 6.0 % +6% /���� ��;*�����: �( 8 +4% + 2.7 % >���:����;>������ �( +2% 7 +0% + 3.5 % *��������;�������� �� 6 52% 54% + 11.8 % 7�����;?���@�� �� 5 56% Sept. 14 58% 4 AF strike 510% -�("%�# *03�4����&�' (� 3 512% Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. -�)"$�#� /��"�*A�4�����B($# $ Passengers traffic 2014 Passengers traffic 2015 + 4.9 % >�������4����&�' �� Traffic growth 2014: pax Traffic growth 2015: pax (1) Traffic weighted by the percentage of shares held, see slide 12 Q1 2015 Revenue │ 4

  6. 3��������������������� Strong contribution of Asia5Pacific, Middle East and Europe ,������ #�������*03� ������������ ��������C�������� ����������������� ������! >����� �%"6# -�"�# ������*������ .����� !�"%# -("6# $"�# -�"�# *���C�3������ >������1������������������� 7������.��� %"%# -)"%# !"6# ;�"(# �"�# -!"!# *����� =�����*������ ��"!# ;("�# !"�# ;�"�# ������������� ������������� /�������������������� &�' ,�������������� &�' -�"�# !�"(# -�"%# �)"�# -�"��� (1) Excluding France and Europe (2) Number of connecting passengers out of the number of departing passengers Q1 2015 Revenue │ 5

  7. ����������������������C3*D�&-6"%#����5�6"$'����������� Continued rebound in Duty Free sales since Q4 2014 ,�������������������������������� �����C3*D&5' &�' ���������) Duty Free sales/PAX: +13.6% to €36.0 �6"$ � Strong growth in fashion and accessories sales thanks to the �6"� -6"%# new luxury offering at Terminal 2E (October 2014) 17.7 18.0 18.2 19 +3.0% +1.1% 16.8 +5.4% 17 +11.3% 15.1 Duty Paid sales/PAX: +1.4% to €7.1 14.3 +5.6% 15 +15.3% 12.4 13 11.6 +6.9% 10.7 Q1 and Q4 are the best performing quarter +8.4% 11 9.8 sales/PAX vs. Q2 and Q3 +9.2% 9 2007 2009 2011 2013 Q1 2014 Q1 2006 2008 2010 2012 2014 2015 ����� �������� (1) Sales/PAX: sales of airside shops per departing passenger Q1 2015 Revenue │ 6

  8. ���������������������������������� ��� �6� (� �� E��� � 7�� E�������� �! E������� 201652020 ERA Hearings of the Formal Finalisation of Consultative consultation with ADP the contract Aviation stakeholders proposal with the State Commission Public ���);����� Consultation .�*���������� Document Group life 2020 targets Group strategic plan presentation �������� /����������� ������������ Q1 2015 Revenue │ 7

  9. *������9 Q1 2015 Revenue │ 8

  10. /������������� ������������������� ���������������� No impact on key metrics P&L by segment Simplified allocation keys Revised allocation of presented by nature *������ for transversal activities overheads to segments instead of destination costs =�������������� Main change: ��� � No more Capitalised production (formerly between revenue and operating costs) ,����������� – €79m (2014) income directly offset in less operating costs (staff expenses and other costs) 3+= ������!�������� ������ ������������ /����������� ����" ����� 7������������ ���� ������ � +€22m � 5€22m Industrial services €0m �������� Rental income � +€9m � 5€9m €0m �98�������!� ��������� Other income 5€50m � +€50m €0m � �������� &�' ;5�$� -5�$� ����� 5�� � � (1) For more details please see refer to appendix. 2014 pro forma P&L will be published in July 2015 Q1 2015 Revenue │ 9

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