A?roports de Paris (ADP is to place a much greater emphasis on its retail and property sectors in an effort to increase its earnings by 50%, according to Executive Chairman Pierre Graf.
More details have now emerged following ADP?s meeting with market analysts last week where it promised to raise underlying earnings by 45-50% by 2010 and increase profit margins from 30.9% to around 40%.
All of these grand promises naturally come ahead of ADP?s flotation in which the airports? operator is hoping for a capital increase of between E.500m to E.600m when it floats up to 49% of the company later this year. The government will retain a 51% golden share.
ADP said that the bottom line is that it plans to add another 30% of retail space at Charles de Gaulle and Orly airports. Some of this will be located in its 750-metre long S3 satellite building which links terminals 2E and 2F at Charles de Gaulle, with the retail mix divided between duty free shopping for long-haul flights, and duty paid goods for travellers within the EU.