Aeroports de Paris

Aeroports de Paris is the airport authority that owns and manages the fourteen civil airports and airfields in the Ile-de-France (Paris) area. Co. owns and operates the three main airports of the Ile de France region (Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget), 10 general aviation airfields and the Issy-les-Moulineaux heliport. In the three main airports, Co. provides facilities to accommodate passengers, airlines and cargo and postal services, and offers a range of services. Co.'s activities are divided into five business segments: Aviation, Retail and Services, Real Estate, Airport Investments and Other Activities.
  • TickerADP
  • ISINFR0010340141
  • ExchangeEuronext Paris
  • SectorIndustrial Transportation
  • CountryFrance

Analysts

Olfa Taamallah ...
  • Yan Derocles

Aeroports de Paris : Referendum in prospect - speculative premium set to shrink

>Constitutional Court opens the way for a referendum on the privatisation of ADP - Yesterday afternoon, the Constitutional Court finally ruled that all of the necessary conditions to open a so-called “shared initiative referendum” have been met, concerning the draft bill submitted on 10 March 2019 by 248 parliamentary MPs and Senators aimed at affirming the extent of the national public interest of the operation of airports in Paris. With regards to the time fram...

Olfa Taamallah ...
  • Yan Derocles

Aéroports de Paris : Référendum en vue - Dégonflement de la prime spéculative

>Le Conseil Constitutionnel ouvre la voie à un référendum sur la privatisation d’ADP - Le Conseil Constitutionnel a finalement jugé hier après-midi que toutes les conditions étaient remplies pour ouvrir la phase de la procédure dite du « référendum d’initiative partagée (RIP) » concernant la proposition de loi déposée le 10/04/19 par 248 députés et sénateurs visant à affirmer le caractère de service public national de l’exploitation des aérodromes de Paris. En te...

Olfa Taamallah ...
  • Yan Derocles

Aéroports de Paris : L’accélération du M&A permet d’afficher des objectifs 2025 ambitieux

>Des objectifs 2018/2025 ambitieux portés par le M&A - Lors d’une dense journée investisseurs, ADP a partagé ses ambitions jusqu’en 2025 en dévoilant de nombreux détails sur les leviers à activer. L’éléphant dans la salle, la privatisation, n’a été abordé qu’à une reprise, le PdG se bornant à indiquer qu’il anticipait un processus très rapide après la promulgation de la loi. ADP ambitionne une croissance de 40% à 50% de l’EBITDA et de 50% à 60% du résultat opérationne...

Olfa Taamallah ...
  • Yan Derocles

Aeroports de Paris : Acceleration in M&A allows the group to announce ambitious 2025 targets

>Ambitious 2018-2025 targets driven by M&A - At a dense investor day, ADP shared its ambitions out to 2025, unveiling numerous details on the levers to be activated. The elephant in the room, privatisation, was only mentioned once, with the chairman and CEO merely saying that he expected a very rapid process after the law has been enacted. ADP is aiming for growth of 40-50% in EBITDA and 50-60% in underlying operating profit between 2018 and 2025 with € 10bn in invest...

François Maury ...
  • Georges Dieng
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2019

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A director sold 27,223 shares at 134.493EUR and

A director at Aeroports De Paris sold 27,223 shares at 134.493EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The na...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/10/2019

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Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/05/2019

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Bruno Cavalier ...
  • Charles Lepetitpas
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/08/2019

...

Bruno Cavalier ...
  • Charles Lepetitpas
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/04/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Corby
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/25/2019

Equities’ disconnect from the "pessimism" of the bond markets is obvious. The simultaneous choice of cyclicals and protection themes (growth/quality) is disturbing. What should we do when our annual objectives are being met? Avoid succumbing to the cyclical temptation, buy quality by avoiding overpaying the protection criterion linked exclusively to a healthy balance sheet structure. We present the results of a screening combining balance sheet and ROCE trends, which highlights five s...

An unfavourable environment weighs on ADP, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of ADP (FR), active in the Transportation Services industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date May 14, 2019, the closing price was EUR 154.00 and its target price was estimated at EUR 146.30.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

MarketLine Department

Copenhagen Airports AS - Strategy, SWOT and Corporate Finance Report

Summary Copenhagen Airports AS - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Copenhagen Airports AS (CPH) is an operator of airports. The company owns, operates and develops Roskilde airport and Copenhagen airport. It provides both air passenger and cargo services. It provides services such as baggage handling, boarding and take-off, transfer, cargo handling,...

Expert Corporate Governance Service (ECGS)

Aéroports de Paris - AGM 20 May 2019

ITEM 7: As every year, ADP proposes an individual vote on each related-party agreement, which is a good practice we support. This year, no less than 18 resolutions are related-party agreements. Most of them are acceptable. However, the amendment n° 4 of the memorandum of understanding concluded between the Company and SNCF Réseau and the Caisse des Dépôts et Consignations related to the CDG Express project raises concerns. Indeed, although we understand that this CDG Express project is quite important for the strategy of Aéroports de Paris (mainly in its capacity as official partner, for the p...

Jehanne Leroy

Aéroports de Paris- Assemblée générale des actionnaires du 20 mai 2019

La société propose le renouvellement d'Augustin de Romanet (résolution 26) : les performances boursières et environnementales du groupe sont plutôt bonnes depuis que M. de Romanet est PDG. Cependant, en termes de gouvernance, le bilan est négatif puisque non seulement aucun contre-pouvoir n'est en place, mais de surcroit, en 2014, lors de la promulgation de la Loi Florange, M. de Romanet en tant que Président du Conseil aurait dû proposer aux actionnaires de maintenir le droit de vote simple, car, même si la résolution aurait probablement été rejetée du fait du poids de l'Etat au capital, au m...

Aéroports de Paris – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 04/05/2018

2017 and 2018 remunerations are not flagged by Proxinvest; indeed, as the company is controlled by the French Government, remunerations are acpped at €450,000. Moreover, we note that for the first time, the company clearly disclose achievement rates of each annual bonus criterion. We commend the company for this improvement.However, we note that the company estimatesthe ROCE achievement rate to 110% while the 2017 ROCE will be published only in july 2018. It seems quite astonishing that the company estimates that a not yet available indicator overperformed.

Jehanne Leroy

Proxy Report - 04/05/2018

Les rémunérations 2017 et 2018 ne font pas l'objet d'alerte particulière par Proxinvest ; en effet, la société étant contrôlée par l'Etat, les rémunérations sont plafonnées à 450 000 €. Notons de surcroit que la société améliore cette année sa communication puisque les taux de réalisation de chacun des critères du bonus annuel 2017 sont communiqués. Nous l'en félicitons.Notons toutefois que la société indique que l'objectif de ROCE (retour sur les capitaux engagés) a été atteint à 110%. Or le ROCE 2017 ne sera rendu public qu'en juillet 2018. Il semble donc assez étonnant que la société estime...

Valérie GASTALDY

Analyse court terme - ADP : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 214,00 €.

Valérie GASTALDY

Short term view - ADP : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €214.00.

Valérie GASTALDY

Short term view - ADP : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €171.90.

Valérie GASTALDY

Analyse court terme - ADP : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 171,90 €.

Valérie GASTALDY

Medium term view - ADP : The correction is gaining traction.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €171.92.

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