Universal Registration Document 2022

F I NANC I AL I NFORMAT I ON

GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2022

9.3 Net financial income

exchange and interest rate derivatives carried by Groupe ADP, whether they are documented in hedge accounting. The financial result also includes the accretion of debts on concession rents and the impairment of loans granted to companies accounted for using the equity method.

Net financial income includes interest payable on borrowings calculated using the effective interest rate method, interest on investments, interest on social liabilities resulting from defined benefit plans, foreign exchange gains and losses on hedging instruments that are recognized in the income statement. As such, it includes realized and unrealized income from foreign

The analysis of net financial income is as follows respectively for 2022 and 2021:

Net Financial income 2022

Financial income

Financial expenses

(in millions of euros)

Gross interest expenses on debt

- -

(238)

(238)

Interest expenses linked to lease obligations

(4) (5)

(4)

Net income (expense) on derivatives

9 9

4

Cost of gross debt

(247)

(238)

Income from cash and cash equivalents

32 41

(6)

26

Cost of net debt

(253)

(212)

Income from non-consolidated investments

3

-

3

Gains and losses on disposal of non-consolidated investments

420

(378) (108)

42

6

Net foreign exchange gains (losses)

124

16

Impairment and provisions

3

(31) (71)

(28) (45) (12)

Other

26

Other financial income and expenses

576 617

(588) (841)

Net financial income

(224)

Net Financial income 2021

Financial income

Financial expenses

(in millions of euros)

Gross interest expenses on debt

- -

(248)

(248)

Interest expenses linked to lease obligations

(5)

(5)

Net income (expense) on derivatives

11

(38)

(27)

Cost of gross debt

11

(291)

(280)

Income from cash and cash equivalents

5

(10)

(5)

Cost of net debt

16 21

(301)

(285)

Income from non-consolidated investments

-

21 10

Net foreign exchange gains (losses)

173

(163) (50)

Impairment and provisions

1

(49)

Other

182 377 393

(97)

85 67

Other financial income and expenses

(310) (611)

Net financial income

(218)

In 2021, impairments and provisions were mainly due to impairments of loans granted to equity affiliates whose results are no longer recognized as well as other financial income related to the restructuring of TAV Tunisie debt. Finalized in February 2021, the restructuring contributed for €118 million profit (€109 million net of deferred tax) to the first half year of 2021’s financial result.

In 2022, financial income and expense also includes impairment losses on loans granted to companies accounted for by the equity method, the results of which are no longer recognized (see Note 4.9.1), other financial income and expenses related to restructuring operations, the positive impact of IAS 29 linked to hyperinflation and €46 million gain on the disposal of Royal Schiphol Group shares.

397

AÉROPORTS DE PAR I S / UN I VERSAL REG I STRAT I ON DOCUMENT 2022