AÉROPORTS DE PARIS Availability of public consultation document for the 2016-2020 Economic Regulation Agreement
The preparation of the Economic Regulation Agreement (ERA) covering the 2016-2020 period is a key opportunity for Aéroports de Paris Group to engage in discussions with all stakeholders. After the in-depth consultation of air carriers in 2014 and the hearing of their expectations and priorities, Aéroports de Paris, during the last quarter of 2014, presented them and their representatives on the Consultative Economic Commission (Cocoéco), with its initial proposed guidelines for the main lines of the next 2016-2020 ERA.
Aéroports de Paris has today published the public consultation document for the 2016-2020 ERA, available on www.aeroportsdeparis.fr:
http://www.aeroportsdeparis.fr/en/group/finance/investor-relations/regulation, which presents its detailed proposal for 2016-2020 ERA. This proposal feeds the institutional debates on the overall competitiveness of the air transport sector, and in particular its contribution to the French economy.
The regulation agreements are important drivers of change for the Group. Since 2006, when the first ERA came into force, Aéroports de Paris has thus radically modernised its infrastructures, in particular the Paris-Charles de Gaulle hub. This metamorphosis has been made possible by the unprecedented motivation of the Group's employees, and carried out in a difficult economic context. For this reason, since 2010, Aéroports de Paris has been committed to maintaining a moderate tariff policy along with stringent financial discipline.
For the upcoming 2016-2020 ERA, Aéroports de Paris wishes to step up this strategy:
- by consolidating its fundamentals, especially in terms of operational robustness and quality of service;
- by positioning itself as a company out to win new traffic;
- by improving its competitiveness in terms of costs and prices;
- and, based on a stabilised regulatory framework which plants trust, by creating value for the benefit of its customers, partners, shareholders and employees,.
Augustin de Romanet, Chairman & CEO of Aéroports de Paris, made the following statement:
"We have made use of all the levers at our disposal to ensure the consistency, effectiveness and fairness of this proposal for all air transport players. The investment programme was closely tailored to the requirements in terms of capacity, safety and quality. The pricing structure project has undergone in-depth changes and will promote the development of international and connecting traffic. The productivity effort which Aéroports de Paris is ready to deploy is unprecedented, in order to set a strong moderation in tariffs while the investment programme will greatly exceed that of the previous period. In 2020, Aéroports de Paris will obtain a fair return on the capital invested in the regulated scope.
At the end of the road, this dossier reflects our trust in our economic model and in its capacity to gain traffic, create value, stimulate and share growth and constantly adapt to the changes in its environment. This proposal is a well-balanced proposal made by a company out to win new business, promoting the development of the air transport sector, the economy and employment."
Refined 2015 target of ROCE of the regulated scope
Aéroports de Paris has to communicate prospective data, especially on 2015, in the public consultation document.
Those elements, as well as corresponding targets that were set for 2011-2015 ERA and modified in 2012 are disclosed below:
| 2011-2015 targets | 2015 targets reviewed in 2012(1) | 2015 targets - Data in the public consultation document |
| Growth assumption in passenger traffic (2011-2015 CAGR) | +1.9% to +2.9% annually on average over the period | + 2.7% annually on average over the period |
| Cap on the average annual increase in tariffs for fees within the scope of the ERA (2011-2015 CAGR) | +1.38% annually on average over the period + inflation | + 1.37% annually on average over the period + inflation |
| ROCE of the regulated scope | Between 3.8 and 4.3% in 2015 | 3.8% in 2015 |
| Investissements of Aéroports de Paris SA on the regulated scope | €1.9bn | €2.0bn |
2015 forecasts of Aéroports de Paris Group will be disclosed in the 2014 full-year results release.
A conference call will be held on 21 January 2015 at 10:00 CET
- Live
- From France: +33 (0)1 70 77 09 47
- From other countries: +44(0) 203 367 9453
- A replay of the call will be available from 14:00, CET
- From France: +33(0)1 72 00 15 00
- From other countries: +44(0) 203 367 9460
- Pin code: 291510#
http://hugin.info/145257/R/1888010/668031.pdf
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aéroports de Paris via Globenewswire
