Paris CDG set for strong 2024 with Olympic Games fast approaching

By Benedict Evans |

The Extime retail, hospitality, and services concept has taken on the mantle of managing 140-plus travel retail and duty free stores across Paris Aeroport.

As Groupe ADP prepares its Paris airports for the Olympic and Paralympic Games, the operator says Paris Charles de Gaulle is more than prepared to meet the demands of – and capitalise on – having the eyes of the world on the French capital and its ports of entry. 

 Groupe ADP posted revenue of €5,495 million/$5,890 million in 2023, up 17.2% year-on-year, driven by strong growth in traffic and retail activities.

EBITDA grew 14.8% to €1,956m. 

 In 2023, Paris Aéroport saw a total of 99.7m passengers, the majority of which (67m) naturally travelled through Paris CDG. That figure is 17.3% above 2022 levels, and 88.5% of pre-Covid levels. 

In a continuation of its 2022 ranking, according to preliminary data compiled by ACI World, this places them fourth in the rankings for international passengers globally, trailing Amsterdam Schiphol, London Heathrow, and Dubai International Airports. 

Dag Rasmussen, Chairman and CEO, Lagardère Travel Retail.

The Extime factor 

Over 2023, revenue from retail activities across Paris Aéroport reached €1,135m, a 19.8% improvement over 2022. Extime Duty Free Paris contributed €756m. 

From a travel retail perspective, arguably the biggest development for Paris CDG was that of the Extime retail, hospitality, and services concept, which has taken on the mantle of managing 140-plus travel retail and duty free stores across the three Parisian airports. 

Lagardère Travel Retail won a competitive tender in 2022 to become the 49% joint venture partner in Extime Duty Free Paris working alongside JV partner Groupe ADP (51%).

Speaking at the time, Dag Rasmussen, Chairman and CEO, Lagardère Travel Retail, said: “The Extime hospitality and retail concept developed by Groupe ADP serves the great ambition of reinventing the passenger experience and offers travellers a moment out of time.” 

 Olympics surge

Fast-forward to this year and the city of Paris is gearing up to face an estimated 15 million attendees at the Olympic Games (26 July – 11 August) and Paralympic Games (28 August – 8 September). 

Augustin de Romanet, Chairman and CEO, Groupe ADP, highlighted earlier this year: “2024 will be a historic year for all Groupe ADP employees: we will celebrate the 50 years of Paris Charles de Gaulle airport in March, we will inaugurate the arrival of metro line 14 at Paris-Orly airport in June, and we will welcome the Olympic and Paralympic Games this summer.

Our airports will be France’s first and last image: we will live up to our responsibility.”

Paris CDG has built up its luxury portfolio with the likes of Cartier, as its Extreme operations look to grow the category.

To prepare for the Games, and indeed the future more generally, Paris CDG has been subject to a comprehensive series of strategic investments in its infrastructure. 

“This year, we will initiate the transformation of the Parisian airports, in line with the new airport model set out in our 2025 Pioneers strategic roadmap,” commented Romanet. 

The here and now 

Groupe ADP built a solid foundation in 2023, and it looks to have capitalised on this with a strong Q1 2024 performance, with consolidated revenue up 10.9% to €1.3bn (versus the same period in 2023). 

Extime Duty Free Paris contributed €175m in revenue over Q1 2024, Extime Travel Essentials contributed a further €35m, an increase of 64.3% yoy, and traffic at Paris Aéroport reached 22m, a 4.4% improvement over the same period in 2023. 

Romanet praised a traffic dynamic “in line with our hypotheses”, and the “good performance of retail activities in Paris”. 

He went on to add: “At the start of this year, Groupe ADP teams are fully mobilised and are ready to host Paris 2024 Olympic and Paralympic Games.” 

For more comment and analysis on European retailers and operators, check out the full report in the June/July ACI Top 10 Airports edition of TRBusiness, available in digital format right here.

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