Universal Registration Document 2024

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[DEU] - Page de garde1
[DEU] - Contents2
[DEU] Presentation3
Essentiels 2024-20254
Section 2935
Section 2946
Section 3027
Section 3018
Section 3009
Section 29910
Section 29811
Section 29712
Section 29613
[DEU] 1 Entrée de chap14
[DEU] 1 PRESENTATION OF THE GROUP15
[DEU] 1.1 GROUPE ADP’S ACTIVITIES16
[DEU] 1.1.1 General presentation16
Modèle d'affaires17
[RG] 1.1.1.1 Un modèle d'affaires responsable et durable18
Chaîne de valeur de l'activité Aéronautique20
Chaîne de valeur de l'activité Commerces et services21
Chaîne de valeur de l'activité Immobilier22
[RG] 1.1.1.2 Les acteurs de l’écosystème22
Section 34623
[RG] 1.1.1.4 Organigramme25
[DEU] 1.1.2 Group activities26
[DEU] 1.1.2.1 Activités aéronautiques – plateformes franciliennes26
[DEU] 1.1.2.2 Commerces et services – plateformes franciliennes31
[DEU] 1.1.2.3 Immobilier – plateformes franciliennes39
[DEU] 1.1.2.4 International et développement aéroportuaire43
[DEU] 1.1.2.4.1 Une stratégie internationale au modèle unique et créateur de valeur43
[DEU] 1.1.2.4.2 TAV Airports44
[DEU] 1.1.2.4.3 Airport International Group (AIG)47
[DEU] 1.1.2.4.4 ADP International47
[DEU] 1.1.2.4.5 GMR Airports49
[DEU] 1.1.2.4.6 SA Croatia D.o.o (SDA Croatia)51
[DEU] 1.2 STRATEGY52
[DEU] 1.2.1 The 2025 Pioneers roadmap52
[RG] 1.2.2 Follow up of the 2025 Pioneers strategic roadmap indicators56
[DEU] 1.3 MAIN HUBS61
[DEU] 1.3.1 Paris hubs61
[DEU] 1.3.1.1 PARIS-CHARLES DE GAULLE63
[DEU] 1.3.1.2 PARIS-ORLY68
[DEU] 1.3.1.3 PARIS-LE BOURGET72
[DEU] 1.3.2 International hubs76
[DEU] 1.3.2.1 Ankara76
[DEU] 1.3.2.2 Izmir79
[DEU] 1.3.2.3 Almaty81
[DEU] 1.3.2.4 Antalya83
[DEU] 1.3.2.5 Delhi85
[DEU] 1.3.2.6 Hyderabad88
[DEU] 1.3.2.7 Santiago du Chili90
[DEU] 1.3.2.8 Amman93
[DEU] 1.4 COMPETITIVE POSITION95
Aviation95
Cargo activities95
Retail and service activities of the paris airports96
Real estate activities in Île-de-France96
Hub one activities96
International activities96
[DEU] 1.5 REGULATORY ENVIRONMENT97
Chicago Convention97
European Community Regulations97
National legislation97
Airport fee regulations98
Opening of airfields to public air traffic98
Works on airfields98
Ownership of Aéroports de Paris assets99
Airport safety legislation99
Allocation of take-off and landing slots100
Aéroports de Paris specifications100
Legislation relating to the decarbonisation of civil aviation101
Other regulations specifically applicable to airport activities102
Section 302103
[DEU] 2 Entrée de chap104
[DEU] 2 RISK FACTORS AND INTERNAL CONTROL105
[RG] 2.1 RISK FACTORS106
[RG] 2.1.1 Summary of the main risks and method106
[RG] 2.1.2 Risks for the business and social model108
[RG] 2.1.3 Risks of external threats113
[RG] 2.1.4 Risks related to the maintenance and robustness of airport capacities116
[RG] 2.1.5 Risks related to environmental change and the effects of climate change119
[RG] 2.1.6 Risks related to compliance and the company’s culture121
[RG] 2.2 INTERNAL CONTROL AND RISK MANAGEMENT125
[RG] 2.2.1 General presentation125
[RG] 2.2.2 Description of the risk management system126
[RG] 2.2.3 Group’s general insurance policy131
[DEU] 2.3 LEGAL AND ARBITRATION PROCEEDINGS132
[DEU] Regulatory litigation for new delhi airport132
[DEU] Tax litigation in turkey132
[DEU] ADP international initiates arbitration proceedings against the Republic of Chile133
[DEU] Urart litigation relating to the award of the duty free concession for Antalya airport to Fraport TAV Antalya133
[DEU] 3 Entrée de chap134
[DEU] 3 CORPORATE GOVERNANCE135
[RG] [RGE] 3.1 CORPORATE GOVERNANCE REPORT ADOPTED BY THE BOARD OF DIRECTORS ON 19 FEBRUARY 2025136
[RG] [RGE] 3.1.1 Compensation136
[RG] [RGE] 3.1.2 Governance147
[RG] [RGE]3.1.3 Board of Directors151
[RG] [RGE] 3.1.3.1 Composition du conseil d’administration151
[RG] [RGE] 3.1.3.2.3 Assiduité des membres du conseil d’administration présents au 31 décembre 2024158
[RG] [RGE] 3.1.3.2.4 Indépendance des administrateurs158
[RG] [RGE] 3.1.3.2.5 Changements intervenus dans la composition du conseil d’administration et des comités au cours de l’exercice 2024161
[RG] [RGE] 3.1.3.2.6 Biographie, mandats et fonctions exercés dans toutes sociétés par les mandataires sociaux au 31 décembre 2024162
[RG] [RGE]3.1.3.3 Organisation et fonctionnement du conseil d’administration184
[RG] [RGE]3.1.4 Special conditions governing shareholder participation in the general meeting197
[RG] [RGE]3.1.5 Description of the main characteristics of the company's internal control and risk management systems as part of the financial reporting process197
[RG] [RGE] 3.1.6 Items likely to have an impact in the event of a public offer198
[DEU] 3.2 OTHER INFORMATION RELATING TO ADMINISTRATIVE BODIES AND EXECUTIVE MANAGEMENT201
[DEU] 3.2.1 Updates to membership of administrative bodies and executive management since 31 december 2024201
[DEU] 3.2.2 Personal information concerning members of the administrative bodies and executive management202
[DEU] 3.2.3 Company shares held by members of administrative bodies and executive management203
[DEU] 3.3 INTERNAL GOVERNANCE204
3.3.1 General Management Committee204
3.3.2 The Executive Committee204
3.3.3 Personal information concerning members of the Company’s internal governance205
Other members of the general management committee207
Other executive committee members208
Compensation of executive committee members209
[DEU] 4 Entrée de chap210
[DEU] 4 SUSTAINABILITY REPORT (including Duty of Care Plan)211
MERGER OF THE SUSTAINABILITY REPORT AND THE DUTY OF CARE PLAN – KEY POINTS212
A strategic approach to improve the consistency and clarity of information for our stakeholders212
A double materiality assessment and commitments that go beyond the obligations required under the CSRD212
4.1 GENERAL DISCLOSURES217
4.1.1 Methodology and scope217
4.1.2 Governance221
4.1.3 Strategy and business model226
4.1.4 IRO analysis242
4.2 ENVIRONMENTAL MATTERS247
4.2.a Sustainability report – introduction to groupe ADP's environmental policy247
4.2.b General approach to environmental duty of care249
4.2.1 Climate change254
Green taxonomy307
Nuclear and fossil gas activities322
4.2.2 Pollution328
4.2.3 Biodiversity346
4.2.4 Circular economy364
4.3 SOCIAL AND SOCIETAL MATTERS370
4.3.a Introduction social issues in the sustainability report370
4.3.b General approach to human rights duty of care371
4.3.1 Own workforce378
4.3.2 Workers in the value chain409
4.3.3 Affected communities422
4.3.4 Consumers and end-users448
4.4 GOVERNANCE MATTERS488
INTRODUCTION TO GOVERNANCE TOPICS488
4.4.1 General approach to supplier and contractor duty of care488
4.4.2 Ethics and compliance matters496
4.4.3 Implementing a responsible tax policy510
Duty of Care Plan – Detailed cross-reference table with the Sustainability Report511
4.5 STATUTORY AUDITORS' REPORT ON THE SUSTAINABILITY REPORT520
REPORT ON THE CERTIFICATION OF SUSTAINABILITY INFORMATION AND VERIFICATION OF THE DISCLOSURE REQUIREMENTS UNDER ARTICLE 8 OF REGULATION (EU) 2020/852 OF AÉROPORTS DE PARIS520
[DEU] 5 Entrée de chap524
[DEU] 5 2024 HIGHLIGHTS525
5.1 COMMENTS ON GROUP DEVELOPMENTS SINCE 1 JANUARY 2024526
Governance526
Paris hubs527
International hubs529
Hospitality and quality of service530
Bond issues531
Tax on the operation of long-distance transport infrastructure531
Pioneers 2025 strategic roadmap531
Decarbonisation532
ADP shares included in the CAC Next 20 and CAC 40 ESG indices532
5.2 Analysis of 2024 consolidated financial statements533
5.2.1 Analysis by segment537
5.2.2 Consolidated statement of cash flows542
5.3 Achievement of 2024 traffic assumptions, forecasts and targets544
5.4 PURCHASES544
5.4.1 Purchases during the periods covered by the financial information presented544
5.4.2 Ongoing investments546
5.4.3 Aéroports de Paris’ projected investment programme in 2025, excluding financial investments546
5.4.4 Investments in joint ventures or in significant holdings546
5.4.5 Environmental impact of investments made and in progress547
5.5 Recent events548
5.6 Outlook548
Passenger traffic548
Retailing at Paris Aéroport549
Financial impact of the 2025 french finance law549
2025 forecasts and financial targets550
Launch of a voluntary public consultation phase for the Paris‑Charles de Gaulle "CDG 2050” project550
2026 targets and medium-term ambitions551
2025 traffic assumptions, forecasts and targets551
[DEU] 6 Entrée de chap Copy552
[DEU] 6 FINANCIAL INFORMATION553
6.1 GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024554
Key figures554
Glossary555
6.1.1 Consolidated income statement556
6.1.2 Consolidated statement of comprehensive income556
6.1.3 Consolidated statement of financial position557
6.1.4 Consolidated statement of cash flows558
6.1.5 Consolidated statement of changes in equity559
6.1.6 Notes to the consolidated financial statements560
Note 1 - Principes généraux560
1.1 Bases de préparation des comptes560
1.2 Politique environnementale561
1.3 Référentiel comptable563
Note 2 - Faits marquants565
Note 3 - Perimetre de consolidation568
3.1 Principes comptables liés au périmètre568
3.2 Évolution du périmètre de consolidation570
Note 4 - Elements courants de l'activité opérationelle571
4.1 Information sectorielle571
4.2 Chiffre d’affaires574
4.3 Autres produits opérationnels courants578
4.4 Clients et comptes rattachés579
4.5 Charges opérationnelles courantes579
4.6 Fournisseurs et comptes rattachés581
4.7 Autres créances et charges constatées d’avance581
4.8 Autres dettes et produits constatés d’avance581
4.9 Entreprises mises en équivalence582
4.10 Stocks585
Note 5 - Avantages au personnel586
5.1 Charges de personnel586
5.2 Avantages du personnel postérieurs à l’emploi587
5.3 Indemnités de cessation d’emploi588
5.4 Provisions pour engagements sociaux au bilan590
5.5 Plan d’Attribution Gratuite d’Action590
Note 6 - Immobilisation incorporelles corporelles et de placement591
6.1 Immobilisations incorporelles591
6.2 Immobilisations corporelles593
6.3 Immeubles de placement595
6.4 Pertes de valeur des immobilisations incorporelles corporelles et des immeubles de placement599
Note 7 - Capitaux propres et resultat par action603
7.1 Capitaux propres603
7.2 Participations ne donnant pas le contrôle605
Note 8 - Autres provisions et autres passifs606
8.1 Autres provisions606
8.2 Autres passifs non courants606
Note 9 - Informations relatives à la gestion des risques financiers607
9.1 Gestion du risque financier607
9.2 Gestion du capital608
9.3 Résultat financier609
9.4 Dettes financières610
9.5 Instruments financiers613
9.6 Autres actifs financiers622
Note 10 - Autres produits et charges opérationnels623
Note 11 - Impôts sur les résultats623
11.1 Taux d’impôt624
11.2 Analyse de la charge d’impôt sur les résultats624
11.3 Preuve d’impôt624
11.4 Actifs et passifs d’impôts différés ventilés par catégorie625
11.5 Tableau de variation des actifs et passifs d’impôts différés625
11.6 Actifs et passifs d’impôt exigible625
11.7 Déficits fiscaux reportables non activés626
Note 12 - Trésorerie et flux de trésorerie626
12.1 Trésorerie et équivalents de trésorerie626
12.2 Flux de trésorerie626
Note 13 - Informations relatives aux parties liées630
13.1 Relations avec les Entreprises associées ou contrôlées conjointement630
13.2 Relations avec l’État et les sociétés participations de l’État630
13.3 Relations avec les principaux dirigeants et actionnaires633
Note 14 - Engagements hors bilan633
14.1 Paiements minimaux futurs633
14.2 Carnet de commandes633
14.3 Engagements donnés et reçus634
Note 15 - Passifs eventuels636
Note 16 - Evenements posterieurs à la cloture636
Note 17 - Honoraires des commissaires aux comptes636
Note 18 - Perimetre de consolidation et societes non consolides637
6.1.7 Statutory auditors’ report on the consolidated financial statements640
6.2 COMPANY FINANCIAL STATEMENTS OF AEROPORTS DE PARIS SA AT 31 DECEMBER 2024645
6.2.1 Income statement645
6.2.2 Balance sheet646
6.2.3 Cash flow statement647
6.2.4 Notes to the company financial statements648
Note 1 Faits marquants648
Note 2 Description de l'activité650
Note 3 Relations avec les filiales651
Note 4 Principes et méthodes comptables652
Note 5 Notes relatives au compte de résultat657
Note 6 Notes relatives au bilan663
Note 7 Notes relatives au tableau des flux de trésorerie674
Note 8 Engagements hors bilan et passifs éventuels675
Note 9 Rémunération et effectifs676
Note 10 Transactions avec les entreprises et les parties liées677
Note 11 Événements post clôture679
6.2.5 Statutory auditors’ report on the financial statements680
[RG] 6.3 FIVE-YEAR FINANCIAL SUMMARY684
[RG] 6.4 SCHEDULE OF SUPPLIER AND CLIENTS PAYMENTS RELATING TO EXISTING LIABILITIES AT THE YEAR-END685
Invoices received, not settled at the balance sheet date of the fiscal year685
Invoices issued and outstanding at the balance sheet date685
[DEU] 7 Entrée de chap686
[DEU] 7 SHARE CAPITAL AND OWNERSHIP STRUCTURE687
[DEU] 7.1 OWNERSHIP STRUCTURE688
[RG] 7.1.1 Ownership structure688
[DEU] 7.1.2 Double voting rights689
[DEU] 7.1.3 Control of the company689
[RG] 7.1.4 Other information689
[DEU] 7.2 STOCK MARKET INFORMATION689
[DEU] 7.2.1 Aéroports de Paris share689
[DEU] 7.2.2 Dividends690
[RG] 7.2.2.1 Politique de distribution des dividendes690
[DEU] 7.2.3 Changes in the share price690
[DEU] 7.3 FINANCIAL CALENDAR691
[DEU] 7.3.1 Results, revenue and general meeting691
[DEU] 7.3.2 Monthly traffic figures691
[DEU] 7.4 ADDITIONAL INFORMATION ON THE SHARE CAPITAL AND PROVISIONS OF THE ARTICLES OF ASSOCIATION692
[RG] 7.4.1 Information concerning the share capital692
[DEU] 7.4.2 Provisions of the articles of association695
7.5 DISPOSAL OF SHARES IN ORDER TO REGULARISE CROSS-SHAREHOLDINGS697
7.6 NOTICE GIVEN TO ANOTHER JOINT-STOCK COMPANY THAT THE COMPANY HOLDS MORE THAN 10% OF ITS SHARE CAPITAL697
7.7 SIGNIFICANT EQUITY INVESTMENT IN OR CONTROL OF COMPANIES WITH REGISTERED OFFICES IN FRANCE698
7.8 PROVISIONS OF ARTICLE 223 QUATER OF THE FRENCH GENERAL TAX CODE698
7.9 INJUNCTIONS OR FINANCIAL PENALTIES FOR ANTI-COMPETITIVE PRACTICES698
7.10 RESEARCH AND DEVELOPMENT ACTIVITIES698
7.11 EXISTING BRANCHES698
7.12 OBSERVATIONS OF THE FRENCH FINANCIAL MARKETS AUTHORITY (AMF) ON THE PROPOSED RENEWAL OF THE STATUTORY AUDITORS698
Section 298699
[DEU] 8 Entrée de chap700
[DEU] 8 ADDITIONAL INFORMATION701
[DEU] 8.1 COMPANY INFORMATION702
[DEU] 8.1.1 Company information702
[DEU] 8.1.2 Information on acquisitions702
[DEU] 8.2 CONTRACTS703
[DEU] 8.2.1 Material contracts703
[DEU] 8.2.2 Related-party agreements704
[DEU] Agreements submitted to the approval of the annual general meeting704
[DEU] 8.2.3 Information on the downgrading of related-party agreements722
[DEU] 8.2.4 Operations with related parties722
[DEU] 8.3 STATUTORY AUDITORS723
[DEU] 8.3.1 Principal Statutory Auditors for the 2024 financial year723
[DEU] 8.4 DOCUMENTS AVAILABLE TO THE PUBLIC723
[DEU] 8.5 PERSONS RESPONSIBLE FOR THE URD INCLUDING THE AFR723
[DEU] 8.5.1 Person responsible for the 2024 Universal Registration Document and annual financial report723
[DEU] 8.5.2 Statement by the person responsible723
[DEU] 8.6 CROSS-REFERENCE TABLES724
[DEU] 8.6.1 Cross-reference table between the Universal Registration Document and appendix 1 of regulation (ec) no. 2019/980724
[DEU] 8.6.2 Cross-reference table between the Universal Registration Document and the management report728
[DEU] 8.6.3 Cross-reference table between the Universal Registration Document and the annual financial report731
Section 308732
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