Full Year 2024 Aeroports de Paris SA Earnings Call Transcript
Key Points
- Aeroports de Paris SA (AEOXF) exceeded 2019 traffic levels, with strong international traffic growth, particularly in North America, Africa, and Asia.
- The company achieved robust financial results, surpassing all 2024 targets, and proposed a dividend of EUR3 per share.
- Retail performance was strong, with spending per passenger reaching a new record, and significant growth in luxury and retail sectors.
- International assets like TAV and GMR Airports showed double-digit traffic growth, contributing significantly to the group's revenue.
- Sustainability initiatives are progressing well, with Delhi Airport achieving the highest level of airport carbon accreditation and Paris platforms' decarbonization trajectory validated by SBTi.
- The reported net result was down due to a negative non-cash accounting charge from the GMR operation.
- Traffic in Paris was impacted by ATC system disruptions and a weak start to summer due to the Olympics, affecting domestic traffic.
- Operational expenses increased by 17% due to new infrastructure tax and higher staff costs, particularly in Turkey due to inflation.
- The company faces challenges in securing fair returns on increased CapEx, with ongoing negotiations for a new economic regulation agreement.
- The impact of the Olympics on 2024 EBITDA was negative, with a net impact of EUR16 million, and future advertising and retail revenue may normalize.
Good morning, everyone. We're very pleased to present you our 2024 results. I am Cecile Combeau, Head of Investor Relations of Groupe ADP. Today with me are Philippe Pascal, Chairman and CEO; Justine Coutard, Deputy CEO; and Antoine Crombez, Deputy CFO. We will start with some prepared remarks from Philippe, Justine, and Antoine before the Q&A session.
(Operator Instructions)
As a reminder, certain information to be discussed during this conference is forward-looking and is subject to risks and uncertainties that could cause actual results to differ materially. For these, I refer you to the disclaimer statement included in our press release and on Slide 48 of our presentation. And with that, let me hand it over to our Chairman and CEO, Philippe Pascal. Thank you.
Thank you, Cecile, and good morning, ladies and gentlemen. Thank you for joining us. I am honored to stand before you today as the newly appointed Chairman
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