Universal Registration Document 2024

2024 HIGHLIGHTS 5

ANALYSIS OF 2024 CONSOLIDATED FINANCIAL STATEMENTS

u the extension of the Golf aircraft areas at Paris-Orly airport, with the creation of new mixed aircraft standards G08, G09 and G10, u the Orlyparc Ouest – Parc Othello development project, u the purchase of vehicles and equipment for people with disabilities or reduced mobility, u the project to renovate the aeronautical infrastructure of taxiway W2 in line with stands Alpha 52 – Delta 06 to Delta 12, u the project to open the “Parisian street” (RPDI), u the installation of a second 225 kV substation, which will be supplied by a new 225 kV RTE supply from the Chevilly substation (increased capacity), u the planned creation of a new high-voltage loop in addition to the existing ones with its electrics stations, to distribute the energy required for the electrification of the ground support equipment (GSE) areas, for the power supplies to the aircraft air-conditioning units

(ACU) and for the recharging stations for electric vehicles, passengers and ADP vehicles, u the renovation of electrical ducts and columns G09 & G13, u the installation of two heat pumps with a total capacity of 5 MW within the Paris-Orly airport heating/cooling plant, u compliance work on Parking 2 and the refitting of the Orly 1, 2 and 3 departure viaduct; u for Paris-Le Bourget Airport and general aviation airfields, investments were mainly in projects to improve safety such as video surveillance and perimeter fencing, as well as acquisitions of new vehicles (hybrid rechargeable VIM firefighting vehicles); u in 2024, Aéroports de Paris also invested in its support functions and projects common to the platforms, including IT.

Cash flows from financing activities

2024

2023

(in millions of euros)

Proceeds from issues of long-term debt

1,111

740

Repayment of long-term debt

(939)

(962)

Repayments of lease liabilities and related financial charges

(28)

(18)

Capital grants received in the period

8

18

Proceeds from issue of shares or other equity instruments Net purchase/disposal of treasury shares Dividends paid to owners of the parent company Dividends paid to non-controlling interests in subsidiaries

- -

- -

(377)

(309) (16) (24) (291)

(25) (24)

Change in other financial liabilities

Interest paid

(298)

Interest received

114

141

Cash flows from financing activities

(458)

(721)

Net financial debt Net debt as defined by Groupe ADP corresponds to the amounts appearing on the liabilities of the statement of financial position under the items non-current borrowings and debt, and current loans and debts, debt related to the minority put option, reduced by derivative financial instruments in an asset position, cash and cash equivalents and restricted bank balances. This net debt appears as follows at the closing date:

As at 31 Dec. 2024 As at 31 Dec. 2023

(in millions of euros)

Borrowings and debt

10,672

10,387

Debt related to the minority put option 1

61

74

10,733

10,461

Gross debt

Derivative financial instruments (positive fair value) 2

65

66

Cash and cash equivalents 3 Restricted bank balances 4

1,958

2,343

138

118

Net debt

8,572

7,934

Net debt/recurring EBITDA 1

4.1x

4.1x

NET FINANCIAL DEBT/EQUITY (GEARING)

156%

150%

1 Mainly GMR. 2 Derivative financial instruments mainly concern interest-rate derivatives and the put option on FCCB bonds set up as part of the planned merger between GIL and GAL. 3 Including €106 million of cash dedicated to aid to local residents funding collected through the tax on airborne noise nuisances (TNSA). 4 Restricted bank balances relate to TAV Airports. Certain subsidiaries, namely TAV Tunisia, TAV Macedonia, TAV Milas Bodrum, TAV Ege and TAV Holding ("the Borrowers") opened Project Accounts designated mainly in order to reserve required amount to reimburse project debt or elements defined in the agreements with their lenders (lease payments to DHMI, operational charges, tax, etc.).

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UNIVERSAL REGISTRATION DOCUMENT 2024 w AÉROPORTS DE PARIS