(AOF)-Total traffic for the ADP Group doubled in March 2022 compared to March 2021. Therefore, the entire network welcomed 18.9 million passengers and increased 9.8 million passengers. This corresponds to 72.4% of the level of group traffic in March 2019 (pre-crisis). Since the beginning of this year, Groupe ADP traffic has increased by 79.7% compared to 2021 to 47 million passengers, or 62.6% of the level of group traffic for the same period in 2019.
During this monthly traffic update, the airport group said that the consequences of the conflict between Ukraine and Russia are not to question the financial forecasts and traffic assumptions “at this stadium”. I reconfirmed.
In February of last year, at the time of the announcement of the 2021 results, ADP said that the 2022 group traffic was between 70% and 80% of the 2019 level, that of Paris Airport in 2019.
= / Strength of value / =
-The best airport management in the world with about 300 million passengers.
-Sales of € 2.8 billion divided into 5 divisions
– Paris’ three airports, shops, service aviation activities, terminal real estate activities (ADP is one of the largest landowners in Ile-de-France), international and other activities.
-An economic model that relies on contracts with three airports in Paris, 27 airports managed worldwide, and airlines, with the aim of becoming a leader in airport design, construction and operation.
-Capital 50.6% is owned by France and is managed by Auguste Stand Romanee, who chairs the 15 board of directors prior to the Dutch companies Schiphol (8%) and Vansi Group (8%). I am serving.
-Severe financial situation (euro 8 billion debt) and debt / capital ratio close to 200%, but cash of 2 billion euros, and guarantee of debt by the state.
= / Problem / =
-The “2025 Pioneer” strategy questioned by the pandemic (Group Traffic: + 2.8% and + 3.2% annual growth driven by international markets, operating profit increased 30-40%).
-Innovation strategy focused on telecom and mobility services via Hub One.
-Environmental Strategy Centered on Paris Airports: Management System Certification, 2030 Carbon Neutral, Improved Air Quality, 25% of Clean Vehicles in Automotive Fleet, Waste Recovery, and Renewable with Internal Geothermal Energy Maintaining 15% of energy.
Expectations for a review of the Aéroports de Paris organization after a collective traditional dismissal agreement.
-Cost reductions will continue, but the annual investment of € 1 billion will be resumed until 2025. This includes € 550 million to € 600 million in Paris in 2022.
= / Challenge / =
-Strong correlation between airlines, especially EasyJet and Air France pandemics and changes in financial position-KLM, 1
End of HubLink industrial cooperation between Aéroports de Paris and Dutch company Schiphol, leading to cross-shareholding
A review of the group’s international activities that do not exclude the withdrawal from the airports of Santiago de Chile and Madagascar.
Net results expected after a significant reduction in net losses in 2021
2022 outlook: Traffic recovery. 65-75% compared to 201 in Paris Aéroports, 30% -35% operating margin, 6-7 debt leverage.
-Maintain dividend suspension.
Future reductions in the number of trips
According to a Roland Berger study, the number of individual and professional air travel could decrease by 20% as the crisis goes by. This negative trend is the result of environmental problems. L
Passengers should choose more eco-friendly airlines
..This approach is an extension of exercise
“Flying shame” was born in Scandinavia just before the pandemic began. The development of virtual mobility will also help reduce travel. This is greater for business trips (about 21% to 24%) than for individual trips (14% to 20%). Studies show that long haul will not return to 2019 levels until 2026.