Aéroports de Paris: 2014 full year results in line with forecasts

2014 full year results:

• Record traffic in Paris with 92.7 million passengers welcomed (+2.6%)
• Revenue up slightly (+1.3%, at €2,791 million): increase in airport fees and retail activities, partially offset by the decrease in de-icing revenue and the mothballing of the cogeneration plant. Sales per pax up by 3.0% to €18.2
• EBITDA up by 3.4%, at €1,109 million: control over operating costs of the Group (+0.6%) and of the parent company (+1.2%) thanks to productivity improvements and weather conditions
• Operating income from ordinary activities up by 8.8%, at €737 million: excellent performance of associates (+71.6%), especially TAV Airports (x4, to €40 million)
• Net result attributable to the Group (NRAG) in marked rebound (+33.3%, at €402 million): improvement in financial result
• Dividend payout maintained at 60% of NRAG (proposed dividend of €2.44/share for 2014 versus €1.85/share for 2013)

2015 forecasts:

• Traffic: assumption of growth of +2.6% compared to 2014
• Consolidated EBITDA: maintained 2015 target of a growth of between 25% and 35% compared to 2009

Calendar:

• Friday 20 February 2015: analysts meeting at 11:00 am Paris time. Broadcast and presentation available at http ://www.aeroportsdeparis.fr/ADP/en-GB/Group/Finance/
• February 2015 traffic figures on Thursday 12 March 2015  
•   Q1 2015 revenue on Thursday 5 May 2015

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