ADP looks for E.600m

By Administrator |

A?roports de Paris (ADP) announced yesterday that it is hoping to raise E.600m ($741.8m) from the issue of new shares in an initial public offering (IPO) which could take place as early as this June.The

French Government has already made it clear that wants to privatise as much as 49% of ADP, although this IPO would be a completely separate matter.
ADP, which operates the Paris airports Charles de Gaulle, of Orly and Le Bourget made its IPO announcement in a stock market filing yesterday stating that it is aiming at raising between E.500m and E.600m ($618.1m to $741.8m).
In the same statement ADP said it is forecasting that it will lift earnings before interest, tax, depreciation and amortization (EBITDA) by 45% to 50% between now and 2010 and that it was targeting the high end of its EBITDA growth objective by 2010.
The airports? company also plans to invest E.2.7bn ($3.34bn) from 2006 to 2010 to improve and expand facilities for passengers at its three airports.
In 2005, ADP's operating profit rose 13.8% to E.331.2m ($409.4m) as sales rose 5.7% to E.1.915bn ($2.37bn). A record 78.7m passengers used its three airports in 2005, an increase of 4.4% on 2004.

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