- October 23, 2020
- Posted by: Bastion team
- Category: Markets
(RTTNews) – Aéroports de Paris SA or Groupe ADP (AEOPF.PK) reported Friday that its consolidated revenues for the first nine months of fiscal 2020 was down 52.7 percent to 1.67 billion euros from last year’s 3.53 billion euros.
The revenues were impacted by the crisis linked to the CoVid-19 pandemic on traffic.
Aviation revenues fell 53.2 percent from last year to 686 million euros, and retail and services revenue dropped 52.4 percent to 509 million euros.
The group’s traffic declined 61.8 percent, with a total of 72.3 million passengers, and that of Paris Aéroport by 66.3 percent, with 27.8 million passengers.
The company noted that the crisis linked to the CoVid-19 epidemic continues to affect the aviation sector and weight on the resumption of the traffic.
Aircraft movements at Paris Aéroport are down 56.8 percent.
Looking ahead, the company said, “The resurgence of the epidemic in France and in Europe has led us to revise our traffic assumptions for Paris Aéroport in 2020 downwards from -63 percent to a range of -65 percent to -70 percent compared to 2019. Our guidance for the consolidated revenue for the year 2020 is therefore situated in a range of – 2.3 to – 2.6 billion euros compared to 2019.”
Groupe ADP also reiterated that it has initiated an important operational and financial optimization plan with an objective of reducing the group’s operating expenses for the year 2020 by approximately 5503 million euros in total. This objective has been revised upwards to a range of between 650 million euros and 700 million euros in total.
Bastion Balance Seoul, Korea.