The ADP group managing Paris airports presented yesterday a net loss of 543 million euros at first semester, against a profit of 250 million euros last year. Its CEO does not see the traffic coming back to the pre-pandemic level of Covid-19 before the period between 2024 and 2027.
Unsurprisingly given the impact of the health crisis on air transport, the manager announced on July 27, 2020 particularly bad half-year financial results: the traffic ADP group passenger has down 57.5% (excluding Istanbul Atatürk traffic and GMR airport traffic in India in 2019), to 48.2 million passengers. As for the traffic of Paris Airport (Paris-CDG and Paris-Orly), it displays -62,2% to 19.8 million passengers, against 52.3 million in H1 2019. It should be remembered that these results include the first two months of the year, not affected by the crisis.
A Paris-Charles de Gaulle, passenger traffic amounted to 14 million passengers in the first half of 2020, down 61.3% (with drops in commercial traffic of -98.0% in April, -96.8% in May, -90 , 9% in June compared to the same period in 2019). Only terminals 2E porte K, 2F and 2AC are currently open at Roissy in order to accommodate all commercial passenger traffic.
A Paris-Orly, passenger traffic decreased by 64.2% in the first half of 2020 compared to the first half of 2019 (with decreases in commercial traffic of -100% in April and May, and -98.3% in June compared to the same period in 2019). Commercial traffic at Orly was suspended on April 1, and has not resumed since June 26 from Orly 3, and since July 13 from Orly 4.
The turnover consolidated ADP was down 46.5% to 1,168 million euros, “in connection with the crisis linked to CoVid-19, with a significant impact in particular on aeronautical and commercial activities in Paris, but also on international business of TAV Airports and AIG ”according to the group’s press release. TheEBITDA of S1 remains positive at € 39 million, down 725 million euros (-94.9%), “in particular following the sharp drop in turnover as well as the depreciation of trade receivables for 63 million euros, despite the savings plan initiated across the group (decrease of € 385 million in group current expenses over the first half of 2020) ”. The group’s current operating income was -566 million euros, down by 1,019 million euros; Net income Group share was -543 million euros, in decrease of 793 million euros.
According to Augustin de Romanet, CEO of Aéroports de Paris – Groupe ADP, the months of April and May “ saw almost zero traffic and the resumption of traffic was slow in June and July “. It’s here ” first time in 50 years that air traffic is experiencing such a sudden surge, and it has been shown that the recovery will be very gradual: a return to the level of traffic of 2019 in Paris is anticipated between 2024 and 2027 », Adds the manager. Groupe ADP ” a managed to stabilize his financial situation. In addition, it concluded the acquisition of a stake in the Indian airport group GMR Airports, under conditions revised downwards to take into account the impact of the pandemic, paving the way for a new industrial partnership which will be a relay of growth for the future », Adds Augustin de Romanet.
This crisis involves ” structural economic effects on air transport with a persistent health threat “, And in this new operational and financial environment Groupe ADP” will review its strategic orientations in order to give the company back the ability to return to profitable and sustainable growth “. It must adapt to move from a growth support model to a management model of a situation in which activities and investments will be reduced.
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