Universal Registration Document 2024

2024 HIGHLIGHTS 5

ANALYSIS OF 2024 CONSOLIDATED FINANCIAL STATEMENTS

2024 excluding one-off items

2024 2.068

Detail

(in millions of euros) Recurring EBITDA

One-off items

(4)

of which revenue

+9

Corrective credit notes for previous years Expenditure related to the 2024 Olympic Games; property tax rebates in Paris Reversal of the provision for the 2024 Olympic Games; reversal of a freehold property asset; impact of the disposal of ADP Ingénierie

of which operating expenses

+28

of which other income and expenses

(42)

Recurring EBITDA excluding one-off items EBITDA margin excluding one-off items

2.064 33.5%

Attributable net income

2024 2,068

2023 1,956

2024/2023 change

(in millions of euros) Recurring EBITDA

+€112M

+5.7%

Depreciation, amortisation and impairment of property, plant and equipment and intangible assets, net of reversals Profit (loss) from equity-accounted companies Operating income from ordinary activities Other non-recurring operating income and expenses

-791 -292 985

-792

+€1M

-0.1 %

75

-€367M -€254M

- %

1,239

-20.5 %

9

4

+€5M

+125.0% -20.0 % -33.0 %

Operating income Financial income Income before tax Income tax expense

994 443 842 -326

1,243

-€249M +€75M -€174M -€94M -€268M

888

1,016 -232

-17.1 %

+40.5% -34.2 %

Net income from continuing activities Net income from discontinued operations

516

784

0

0

-€M

- %

Net income

516 174

784

-€268M

-34.2 % +13.7%

Net income attributable to non-controlling interests Net income attributable to owners of the parent company

153

+€21M

342

631

-€289M

-45.8 %

Depreciation, amortisation and impairment of property, plant and equipment and intangible assets, stood at €791 million, down 0.1% (up €1 million), due in particular to the reversal of impairment relating to the extension of Amman airport concession until 2039 in the amount of €152 million. Profit (loss) from equity-accounted companies represented a net loss of €292 million, a deterioration of €367 million due in particular to the €330 million non-cash expense recorded in the second half of the year in connection with the GIL/ GAL merger. This included the favourable impact of remeasuring FCCBs (Foreign Currency Convertible Bonds) in GAL's financial statements. Taking all these factors into account, operating income from ordinary activities was down 20.5% (€254 million) to €985 million, while operating income fell 20.0% (€249 million) to €994 million Net financial expense was €152 million, an improvement of 33.0%, or €75 million, due especially to: u the increase in foreign exchange gains during 2024, amounting to €24 million;

u the increase in income on short-term investments, for €28 million; u the change in fair value of the FCCB convertible bonds and associated options implemented since 2023 as part of the merger of GIL and GAL, for €29 million 1 . Income tax amounted to €326 million, compared with €232 million in 2023, due to the non-deductible nature of the long-distance transport infrastructure tax in France, and the unfavourable impact of deferred tax for AIG. Net income came in at €516 million for 2024, down 34.2%, or €268 million, year on year. Net income attributable to non-controlling interests was up 13.7% (€21 million) to €174 million, reflecting the impact of the aforementioned impairment reversal in the financial statements of AIG (51%-owned by Groupe ADP). Given all these items, net income attributable to owners of the parent company stood at €342 million, down 45.8% (€289 million), year on year.

1

See press release of 19 March 2023.

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UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS