Aéroports de Paris: Q1 2014 consolidated revenue

Traffic growth (+3.6%) not translated into revenue (-2.4% to €637 million) due to decrease in de-icing fees and scope effect (mothballing of cogeneration plant):

Continued good dynamics in traffic (+3.6%) since Q4 2013Aviation: sustained growth of airport fees (+5.8%, to €206 million) driven by traffic and tariffs increase, totally offset by the decrease in ancillary fees (-19.4% to €45 million) linked to low de-icing activity following an exceptionally mild winterRetail and services: growth of retail activities (+1.4%, to €85 million) more than offset by the strong decrease in industrial services (-53.7%, to €13 million) due to the mothballing in April 2013 of the cogeneration plant resulting in a decrease in electricity sales (-74.0%, to €4 million) Real estate: impact of the indexation of rents on CCI down by 1.74% as of 1 January 2014Continued control over operating costs strengthened by a positive effect on margins of no snowfall

Group revenue by segment:

In million of euros
(unless stated otherwise) Q1 2014Q1 2013
Pro forma2014 / 2013 Aviation 376 375 +0.5% Retail and services 224 234 -4.4% Real estate 65 66 -1.6% International and airport developments 16 22 -26.9% Other activities 47 47 -1.0% Intersegment eliminations (91) (91) -0.1% Consolidated revenue637653 -2.4%Group traffic (in millions of passengers)2927+7.1% Paris Airports (CDG+ORY) 20 19 +3.6% TAV Airports @ 38% 8 7 +15.6% Sales/PAX (€)18.017.8+1.1%

Augustin de Romanet, Chairman and Chief Executive Officer of Aéroports de Paris, said:

"The upturn in traffic observed since the beginning of the fourth quarter of 2013 continued over the first quarter of 2014, with a 3.6% growth in passenger traffic at Paris airports. This growth did not translate into an increase in consolidated revenue mainly because of an external effect (decrease in revenue linked to de-icing activities, as a consequence of an exceptionally mild winter) and a scope effect (mothballing of cogeneration plant). Beyond revenue, our continued efforts on control over operating costs and no snowfall had a positive impact on our margins."

A conference call will be held today at 9:00, CET

From France: + 33 1 70 77 09 34From other countries: + 44 203 367 9453
Aéroports de Paris: Q1 2014 consolidated revenue - Financial Release
Aéroports de Paris: Q1 2014 consolidated revenue - Presentation
Aéroports de Paris: Chiffre d'affaires consolidé du T1 2014 - CP


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Source: Aéroports de Paris via Globenewswire
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