Universal Registration Document 2024
6 FINANCIAL INFORMATION
GROUPE ADP CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024
The breakdown of the residual contractual maturities of financial liabilities is as follows:
Total contractual payments as at 31 Dec. 2024
SOFP value as at 31 Dec. 2024
0 - 1 year
1 - 5 years
Over 5 years
(in millions of euros)
Bonds
7,726 1,893
7,786 1,909
500 625
3,236
4,050
Bank loans
529
755
Lease liabilities
168 175 180
168 175
19
114
35
Other loans and assimilated debt
8
150 888
17
Interest on loans
1,651
304
459
Borrowings and debt (excluding derivatives)
10,142
11,689
1,456
4,917
5,316
Trade payables
790
790
790
-
-
Other payables and other non-current liabilities (1)
1,641
1,641
926
403
312
Debt at amortised cost
12,573
14,120
3,172
5,320
5,628
Outgoings
- - -
518
34
465
19
Receipts
(611) (93)
(49) (15) 3,157
(528)
(34) (15)
Hedging swaps
(63)
TOTAL
12,573
14,027
5,257
5,613
1 Other payables exclude all accounts which do not constitute, within the terms of IAS 32, contractual obligations, such as tax and social security debts.
COVENANTS As part of their financing contracts, certain Groupe ADP entities are required to comply with certain financial ratios. These include ADP SA, Extime Duty Free Paris, and concessions operated by airport management companies in which AIG and TAV Airports are shareholders. In the event of persistent failure to comply with these ratio requirements, the lenders may impose default conditions leading to early repayment with limited recourse to the shareholders. Contracts containing such covenants represent 22% of the Group's total borrowings as at 31 December 2024.
In 2024, TAV Macedonia and Almaty International Airport did not meet the requisite interest coverage ratios under its covenants. The lenders agreed to waive the covenants prior to 31 December 2024. As at 31 December 2024, the Group's entities complied with their covenants, with the exception of the TAV Tunisia international concession (see note 9.4.1).
Borrowings recognised in the statement of financial position that incorporate covenants break down as follows:
Nominal amount outstanding as at 31 Dec. 2024
Amount with covenants
Amount in %
(in millions of euros)
ADP AIG
7,811
402
5%
98 45 10
98 20
100%
Extime Duty Free Paris
44%
Extime Travel Essentials Paris ADP International Americas
– – 3 – –
–% –%
9 9
Paris Experience Group
35%
Hub One
1 1
–% –%
Extime Média TAV Airports
1,711 399 255 234 223 206
1,642
96% 97%
TAV Holding TAV Ankara TAV Tunisie
386 255 234 223 206
100% 100% 100% 100% 100% 100% 100%
Almaty International Airport
TAV Kazakhstan
TAV Izmir
179
179
TAV Bodrum
96 63 56
96 63
TAV Macedonia
Other
–
–%
TOTAL
9,695
2,165
22%
618
AÉROPORTS DE PARIS w UNIVERSAL REGISTRATION DOCUMENT 2024
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