The ‘Look of the Game’ window dressing in the colours of the Paris 2024 Games, from the runway at Terminal 2 of Paris CDG (Photo: Groupe ADP).

Groupe ADP has released its fiscal report for the first nine months of 2024, which showed revenue up 11.7% to €4.6bn ($4.97bn) compared to 2023, and 9.4% revenue growth from ancillary fees to €198m (€213m).

Over the first nine months of 2024, revenue of Groupe ADP’s aviation segment, which relates solely to the airport activities carried out by Aéroports de Paris as operator of the Parisian platforms, was up +6.0% ($93M) to €1.5bn ($1.62bn).

Revenue from its retail and services segment was up 10.6% (€137M), to 1,434 million euros, with retail activities specifically (airside/landside shops, bars, restaurants, banking and foreign exchange, car rental, advertising) was up +10.4% (€87M), to 924 million euros.

Groupe ADP credited this primarily to the increase of revenue from Extime Duty Free Paris, up 8.5% ($50m), driven by the increase in traffic and the number of outlets opened, and the increase of revenue from Extime Travel Essentials up 58.0% ($55m), driven by the increase in traffic.

 Augustin de Romanet, Chairman and CEO of Groupe ADP, stated: “Groupe ADP recorded solid growth in its consolidated revenue. In the first 9 months of 2024, it is up 11.7%, reaching 4.6 billion euros.

Over this period, we welcomed 275.1 million passengers across our entire airport network, including 78.4 million in Paris, up 3.8%, in line with the 2024 traffic hypothesis.”

Paris Aeroport

Revenue from aviation activities in Paris was up 6.0%, driven by traffic growth (3.8%) and a 4.5% average tariff increase since 1st April 2024.

Revenue of Retail and Services in Paris continued with good momentum (10.6%), benefiting from traffic growth in Paris and Sales / Pax for Extime Paris up 5.6%, at €31.4 ($33.4) for the 9 months of 2024.

The group also highlighted several key developments at its Paris operations throughout 2024, such as: the reopening of infrastructure at Paris-CDG; a voluntary public concertation for “Paris-Orly 2035” project; Paris 2024 Olympic and Paralympic Games; and the 2025 tariff approval process.

A breakdown of key figures from Groupe ADP’s year-to-date, showing double-digit revenue growth.

Romanet noted: “Extime Paris Sales per pax stands at 31.4 euros, also in line with our trajectory for 2025. The solid financial performance recorded by the Group since the beginning of the year, particularly in international and retail activities, leads us to confirm all our forecasts and financial targets for 2024 and 2025, even if traffic in Paris is expected in the lower end of the growth range assumed at the beginning of the year (+3.5% to 5.0% vs. 2023).

 Our achievements, since the start of the year reflect our priorities. In terms of hospitality, the 2024 summer was marked by the hosting in our Parisian airports of the delegations and spectators of the Paris 2024 Olympic and Paralympic Games. We can be proud of the commitment of Groupe ADP employees, and that of the entire airport community.”

International development

 Groupe ADP also highlighted key developments across its international portfolio, notably: the Amman airport concession extended to 2039; completion of the merger between GMR Airports Ltd (GAL) and GMR Airports Infrastructure Ltd (GIL); a new international terminal in Almaty; the disposal of ADP Ingénierie; and the signing of a co cession agreement for Nagpur Airport with GMR Airports.

Passenger traffic was up across the board for Groupe ADP, though its Paris airports saw a relatively minor increase.

“The group has successfully completed key operations in its development strategy. With our partner GMR Group, we have finalized the operation making GMR Airports a company listed directly on the Indian financial markets, in which Groupe ADP holds a 45.7% economic interest.

In addition, we have strengthened our hospitality offering with the acquisition of Paris Experience Group, creator of tourist experiences in Île-de-France, and of P/S, operator of exclusive airport terminals in the United States,” commented Romanet.

Decarbonisation

Lastly, Groupe ADP highlighted its efforts in decarbonisation via investment in LanzaJet to support the deployment of sustainable aviation fuels (SAF), and the validation of Groupe ADP’s decarbonization targets by independent organism SBTI (Science-Based Targets Intiative).

On 16 May 2024, the Groupe ADP, through its subsidiary ADP International, announced a $20m investment in LanzaJet, an America SAF producer.

On 3 October 2024, Groupe ADP’s decarbonization targets have been formally validated by the Science-Based Targets Initiative (SBTi).

These targets include a 68% reduction in direct emissions by 2030 and a 90% reduction by 2035, compared with 2019, for Paris- Charles de Gaulle, Paris-Orly and Paris-Le Bourget airports.

Stakeholder emissions will also be reduced by 27.5% by 2030 and 90% by 2050, with an ambition of net zero emissions throughout the value chain.

Romanet noted of these ongoing decarbonisation efforts: “We are continuing our industrial transformation and our commitment to decarbonisation, demonstrated by the recent validation by the independent organisation Science Based Targets initiative (SBTi), of the decarbonisation objectives that Groupe ADP has set for itself as part of its 2025 Pioneers roadmap, as well as its 2050 target: net zero emissions throughout the value chain.”

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