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    ADP   FR0010340141

AÉROPORTS DE PARIS

(ADP)
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Aeroports de Paris : Citing COVID-19, Paris airport operator cuts air traffic forecast

07/28/2021 | 12:33pm EDT

PARIS, July 28 (Reuters) - French airport operator ADP has revised down its forecast for air traffic through its Paris hubs this year, citing renewed international restrictions on travel because of the COVID-19 pandemic.

The company said it was now operating on the assumption that Paris traffic in 2021 would be between 30% and 40% of 2019 figures. The previous assumption had been for traffic through Paris of between 35% and 45% of 2019 levels.

Speaking on a conference call with reporters, Philippe Pascal, ADP's finance head, said of the revision: "It's out of caution at this stage."

He said the revision was prompted by the fact that some restrictions on international travel were still in place in some countries.

The global travel industry, which has been severely affected by the pandemic, had been anticipating a bounceback this summer as levels of vaccinations rise in many developed countries and governments ease restrictions.

But expectations of a strong recovery have proved over-optimistic, with many people choosing to holiday at home because of the uncertainty linked to COVID-19. (Reporting by Christian Lowe; editing by David Evans)


© Reuters 2021
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Analyst Recommendations on AÉROPORTS DE PARIS
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Financials
Sales 2021 2 573 M 2 998 M 2 998 M
Net income 2021 -426 M -496 M -496 M
Net Debt 2021 8 054 M 9 384 M 9 384 M
P/E ratio 2021 -27,6x
Yield 2021 -
Capitalization 11 497 M 13 388 M 13 396 M
EV / Sales 2021 7,60x
EV / Sales 2022 5,11x
Nbr of Employees 22 891
Free-Float 26,3%
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Mean consensus UNDERPERFORM
Number of Analysts 19
Last Close Price 116,20 €
Average target price 102,07 €
Spread / Average Target -12,2%
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Managers and Directors
Edward Rodolphe Paul Arkwright Co-Chief Executive Officer
Augustin Pascal de Romanet de Beaune Chairman & Co-Chief Executive Officer
Philippe Pascal Deputy CEO-Finance, Strategy & Administration
Gilles Lévêque Director-Information Systems
Fernando Echegaray del Pozo Deputy Chief Executive Officer-Operations