Aéroports de Paris : 2013 Half-Year Results

                 Aéroports de Paris : 2013 Half-Year Results

Traffic up 0.5% in Paris in H1 2013, with 43 million passengers:

  *Favourable development  of  passenger-traffic mix:  international  traffic 
    +2.6%

  *Dynamic growth of the Group's traffic: +5.6%

H1 results in line with 2013 forecasts:

  *Revenue up by 6.2%, at €1,346 million

  *EBITDA up by 4.1%, at €487 million

  *Operating income  from  ordinary  activities  virtually  stable,  at  €286 
    million, and net result attributable to  the Group down by 13.9%, at  €125 
    million, due to a strong increase in amortisation and income tax expenses

Group's operating costs up by 5.4% in the first half to €893 million and up by
1.5% excluding the impact  of snowfall and scope  effect linked to  Nomadvance 
integration

Very good performance of retail and TAV:

  *Sales per departing passenger at airside shops up 8.5%, at €17.6

  *Favourable  impact  of   the  consolidation  of   TAV  Airports  and   TAV 
    Construction on operating income from ordinary activities (contribution of
    €5 million)

2013 forecasts and 2015 targets confirmed:

  *2013: assuming  that  traffic  remains stable,  consolidated  revenue  and 
    EBITDA are expected to grow slightly

  *2015: 2015 EBITDA up by between 25% and 35% compared to 2009

Augustin de Romanet, Chairman and CEO of Aéroports de Paris, said:

"With growth in revenue of  6.2% and EBITDA up by  4.1%, the first half is  in 
line with 2013  forecasts and  reflects the  strength of  Aéroports de  Paris' 
business model thanks essentially to the  good performance of retail and  real 
estate activities. Sales per passenger continue  to grow (+8.5%) and stand  at 
€17.6.

This first  half registers  the first  results of  the initiatives  undertaken 
since the beginning of the year to control our costs and our investments.  Our 
efforts  should  be  continued  through  the  structural  improvement  of  our 
organization in order to ensure the efficiency of Aéroports de Paris in  terms 
of service to its clients passengers and airlines.

Assuming that traffic  remains stable  in 2013,  we confirm  our forecasts  of 
slight growth in consolidated revenue and EBITDA compared to 2012"

Highlights of the period

Sale of 9.5% of Aéroports de Paris' capital by the State and the SIF

The State and the Strategic Investment Fund jointly decided to sell on 30 June
2013, 4.8% of  Aéroports de  Paris' capital  to Crédit  Agricole Assurances  / 
Predica and 4.7% of Aéroports de Paris' capital to Vinci Group.

In accordance with the terms and  conditions, the buyers committed to  keeping 
the shares for a minimum period of one year and not to exceed the  shareholder 
threshold of 8% of the capital for five years. They will be allowed to benefit
from a seat on the  company's board of directors,  at the 2014 annual  general 
meeting of shareholders, at the latest.

In accordance with Law n°2005-357 of 20 July 2005 on airports, following  this 
operation the French  State retains  a majority shareholding  in Aéroports  de 
Paris, with a 50.6% stake.

The breakdown of  Aéroports de Paris'  shareholding as  of 5 July  2013 is  as 
follows:

Shareholders                              % of capital and voting rights
French State                                                       50.6%
Schiphol Group                                                      8.0%
Vinci Group                                                         8.0%
Predica                                                             4.8%
French institutional investors                                      8.7%
Non-resident institutional investors                               12.4%
Individuals and unidentified shareholders                           5.7%
Employees                                                           1.8%
Treasury shares                                                        -
                                                                  100.0%

Change in passenger traffic

  *Group stake-weighted traffic:

                              ADP stake Stake-weighted traffic   H1 13 /
                                               (m pax)         H1 12 change
     Paris (CDG + Orly)         @ 100%          43.0             +0.5%
     Regional Airports Mexico   @ 25.5%          1.6              +5.1%
ADP  Jeddah - Hajj                 @ 5%          0.2              -4.2%
     Amman                       @ 9.5%          0.3              +4.7%
     Mauritius                    @ 10%          0.1              +1.8%
     Conakry                      @ 29%          0.0              -9.7%
     Istanbul Atatürk             @ 38%          9.3              +18.0%
TAV  Ankara Esenboga              @ 38%          2.0              +16.0%
     Izmir                        @ 38%          1.8              +10.4%
     Other airports               @ 38%          1.8             +128.1%
Total Group (stake-weighted)                     60.2             +5.6%
Management contracts                             5.4              +16.4%

  *On Paris' airports:

Over the first six months of 2013, Aéroports de Paris passenger traffic showed
modest growth of 0.5%, with a  total of 43.0 million passengers: it  decreased 
by 0.5% at Paris-Charles de Gaulle (29.5million passengers) and rose by  2.7% 
at Paris-Orly (13.5 million passengers).

International traffic excluding Europe (39.6%  of total traffic) increased  by 
2.6% over the period. Growth was mainly driven by French Overseas  Departments 
(+4.9%), Asia-Pacific (+4.6%),  Africa (+4.4%)  and the  Middle East  (+4.2%). 
Latin America (-0.2%) and  North America (-1.4%) saw  a first-half decline  in 
traffic.  European  traffic,  excluding  France  (41.9%  of  total   traffic), 
decreased by  0.5% over  the  first half.  Domestic  traffic (18.5%  of  total 
traffic) was down by 1.5%.

The number of connecting passengers increased by 0.1% and the connecting  rate 
decreased by 0.1point to 24.1%.

Air traffic movements (344,010) were down by 3.3%.

Freight and postal activity fell by 6.0%, with 1,049,869 tonnes transported.

Tariffs

  *Fees

As  of  1  April  2013,  fee  tariffs  increased  on  average  by  3.0%  on  a 
like-for-like basis.

  *Airport security tax

On 1 April 2013,  the airport security tax  rate remained unchanged at  €11.50 
per departing  passenger  and at  1.00  euro per  tonne  of freight  or  mail. 
However, connecting passengers enjoy a  40% discount (versus 10%  previously), 
with the  airport security  tax  standing at  €6.90 per  departing  connecting 
passenger.

Financing

In March 2013, Aéroports de Paris redeemed a matured bond with a nominal value
of €300 million.

In June 2013, Aéroports de Paris:

  *issued a bond with  a nominal value of  €600 million, bearing interest  at 
    2.75% with a maturity date of 5 June 2028;

  *redeemed a mature loan with a nominal value of €38 million.

Dividend voted by the annual general meeting of shareholders

The annual  general  meeting of  shareholders  held on  16  May 2013  voted  a 
dividend payment  of  €2.07 per  share  paid on  30  May 2013.  This  dividend 
corresponds  to  a  payout  ratio  of  60%  of  the  consolidated  net  income 
attributable to the Group for the 2012 financial year, against a ratio of  50% 
previously.

New Istanbul airport

On 3 May  2013, Aéroports de  Paris noted the  Turkish General Directorate  of 
State Airports Authority (Devlet Hava  Meydanlari Isletmesi or DHMI)  decision 
to  select  another  candidate  than  TAV  Havalimanlari  Holding  A.S.  ("TAV 
Airports") for  the  construction  and  the concession  of  the  new  Istanbul 
airport.

Moreover, TAV Airports and  TAV Istanbul (100%-owned  by TAV Airports),  which 
holds the lease  on the Istanbul  Atatürk Airport until  2 January 2021,  were 
officially informed  by  the Turkish  Civil  Aviation Authority  (Devlet  Hava 
Meydanlari Isletmesi or DHMI)  that TAV Istanbul will  be compensated for  the 
loss of profit that may  be incurred between the date  of opening of this  new 
airport and the expiry date of the current lease.

ADPI

Related to some  past activities  of ADPI, came  to light  a non-notified  tax 
adjustment risk concerning corporation tax for  2008, 2009 and 2010 which  was 
accounted as a provision for €6 million.

New presentation of financial statements

Since 1^st January 2013, Aéroports de Paris Group has applied the amendment to
standard IAS  19  revised  "Employee  benefits"  that  eliminates  the  option 
allowing differing  recognition  of actuarial  gains  and losses  of  employee 
benefit obligations, called  the "corridor  approach". As  a consequence,  all 
actuarial gains and losses of employee benefit obligations are now immediately
recognised in "Other Comprehensive Income".

Beyond the  adoption of  this amendment,  Aéroports de  Paris Group  chose  to 
recognise from now on the  expense relative to retirement benefit  obligations 
by distinguishing  the cost  of current  services (in  operating income),  the 
interest  cost  related  to  retirement  commitments  (in  financial  income), 
according to this standard. Until  2012 these expenses were entirely  recorded 
in operating income.

H1  2012  pro  forma  consolidated  financial  statements  were  prepared   in 
accordance with the changes described above:

Impact on the H1 2012 consolidated P&L

In millions of euros  H1 2012 as  H1 2012  Change
                      published  pro forma
Revenue                 1,267      1,267     -
                                                  Employee benefit costs:
EBITDA                  464       468      +4   -€3m (IAS 19 revised), +€7m
                                                  (change of presentation)
Operating Income from   282       286      +4
Ordinary Activities
Operating Income        282       286      +4
Net financial                                     Financial expenses:    
income/expense           (56)      (63)      -7   -7 m€ (change of
                                                  presentation)
Income tax expense       (80)      (79)      +1   IAS 19 revised impact
Net income
attributable to the     147       145      -2
Group

This change has a significant impact on only the "Aviation" and "Retail and
Services" segments:

  *Impact on the P&L of the "Aviation" segment:

In millions of euros                     H1 2012 as published  H1 2012  Change
                                                              pro forma
Revenue                                          761             761      -
EBITDA                                          143            146      +3
Operating Income from Ordinary                   25            28       +3
Activities
Operating Income                                 25            28       +3

  *Impact on the P&L of the "Retail and Services" segment:

In millions of euros                     H1 2012 as published  H1 2012  Change
                                                              pro forma
Revenue                                          439             439      -
EBITDA                                          246            247      +1
Operating Income from Ordinary                  202            203      +1
Activities
Operating Income                                202            203      +1

Impact on the consolidated balance sheet as at 30.06.2012

In millions of euros                  30.06.2012 as 30.06.2012 pro   Change
                                        published       forma
ASSETS
Non-current assets                          7,613         7,613    -  
Current assets                              1,500         1,500    -  
TOTAL ASSETS                                9,113         9,113    -  
SHAREHOLDERS' EQUITY AND LIABILITIES
Share capital                                 297           297    -  
Share premium                                 543           543    -  
Retained earnings                           2,729         2,755        26 
Other equity items                              (1)            (1)          -
Shareholders' equity                        3,568         3,594        26 
Non-current debt                            3,482         3,482            -
Provisions for employee benefit               327           287         (40)
obligations (more than one year)
Deferred tax liabilities                      210           224        14 
Other non-current liabilities                  64            64    -  
Non-current liabilities                     4,083         4,057        (26)
Current liabilities                         1,461         1,461    -  
TOTAL EQUITY AND LIABILITIES                9,113         9,113            -

Impact on the consolidated balance sheet as at 31.12.2012

In millions of euros                   31.12.2012 as 31.12.2012 pro   Change
                                         published       forma
ASSETS
Non-current assets                           7,829         7,829           0
Current assets                               1,554         1,554    -  
TOTAL ASSETS                                 9,383         9,383           0
SHAREHOLDERS' EQUITY AND LIABILITIES
Share capital                                  297           297    -  
Share premium                                  543           543    -  
Treasury shares                                  (2)            (2)          -
Retained earnings                            2,898           2,926         28
Other equity items                               (4)           (52)       (48)
Shareholders' equity                         3,733         3,712        (20)
Non-current debt                             3,483         3,483    -  
Provisions for employee benefit                330           361        31 
obligations (more than one year)
Deferred tax liabilities                       212           202        (11)
Other non-current liabilities                   74            74    -  
Non-current liabilities                      4,099         4,120        20 
Current liabilities                          1,551         1,551    -  
TOTAL EQUITY AND LIABILITIES                 9,383         9,383         0 

First half results in line with 2013 forecasts

In millions of euros                      H1 2013  H1 2012  2013 / 2012
                                                  pro forma
Revenue                                   1,346    1,267      +6.2% 
EBITDA                                      487      468      +4.1% 
Operating income from ordinary activities   286      286       0.0% 
Operating income                            286      286       0.0% 
Net finance costs                            (67)      (63)     +7.7% 
Net income attributable to the Group        125      145     -13.9% 

Over the first half  of 2013, the consolidated  revenue increased by  6.2%,to 
€1,346million. This rise mainly results from:

  *the strong growth  in revenue  from retail  and services  (+7.4%, to  €472 
    million) thanks particularly to the good performance of retail (+10.5%);

  *the positive  development  of revenue  generated  by aviation  (+4.0%,  to 
    €791million) mainly  driven  by increases  in  tariffs on  1  April  2012 
    (+3.4%) and on 1 April 2013  (+3.0%), and by a positive  passenger-traffic 
    mix;

  *the continued growth of real estate (+6.7%, to €133 million);

  *and the  increase  in  revenue  from other  activities  (+13.9%,  to  €129 
    million) mainly linked to the acquisition  of the Nomadvance Group by  Hub 
    Télécom in August 2012.

Intersegment eliminations amount  to €184 million  for the first  half, up  by 
4.2%.

EBITDA is growing (+4.1%  at €487 million), reflecting  partially a growth  in 
revenue (+6.2%, at €1,346million) greater than the growth in operating  costs 
(+5.4%, at €893 million). Excluding  impacts of first-quarter snowfall  (+€18 
million) and the scope effect linked to Nomadvance integration in August  2012 
(+€15 million), operating costs would have increased by 1.5%. The gross margin
rate decreased by 0.7points, to 36.2%.

Capitalised production,  which  relates  to  the  capitalisation  of  internal 
engineering services provided within the framework of investment projects, was
down by 5.2% at €30million,  due to the delivery  in 2012 of major  projects: 
mainly satellite 4 and the A-C junction.

Raw materials and consumables used increased  by 33.8% to €75 million, on  the 
one hand as a result of increased purchases of winter products (+€12  million) 
in 2013 due to first-quarter  snowfall, and on the other  hand due to a  scope 
effect (+€8 million) following the acquisition of Nomadvance.

The costs related  to external  services increased  by 1.8%  to €336  million, 
mainly following the  impact of  the strengthening of  winter operations  (+€6 
million).

Employee benefit costs  increased by  5.9% and amounted  to €378million.  The 
average number  of employees  stands at  9,162,  up by  2.8% compared  to  the 
first-half of 2012.

Taxes (other than  income taxes) decreased  by 3.8%  to €92 million  due to  a 
regularisation in favour of Aéroports de Paris.

Other operating income and expenses were down by 75.0%, at €4 million, due  to 
an unfavourable base  effect linked  to the positive  impact of  non-recurring 
items in the first half of 2012.

Operating Income from ordinary activities is virtually stable at €286 million,
impacted by the increase  in depreciation and amortisation  (+12.9 %, to  €215 
million) that was partially offset by the  increase in the share of profit  of 
associates from operating activities  (+60.6%, to €14million). This  increase 
in  depreciation  and  amortisation  is  explained  by  the  opening  of   new 
infrastructures in 2012 (satellite 4 and A-C junction) and an amortisation  of 
€4 million linked to the disposal of aircraft stands.

Operating income is virtually stable at €286 million.

The net finance cost is a loss of €67 million, an increase of 7.7% essentially
due to an increase in debt.

The net debt/equity ratio stood at 87% as  at 30 June 2013 compared to 81%  at 
the end of 2012.  Group net debt stood  at €3,170 million as  at 30 June  2013 
compared to €3,003 million at the end of 2012.

The income tax expense increased by 16.0%  to €92 million over the first  half 
of the year, because of: a provision of €6 million related to a tax adjustment
risk, the new  3% tax on  dividends and the  capping of the  deduction of  net 
financial charges.

Taking into account  the above elements,  the net income  attributable to  the 
Group decreased by 13.9%, at €125 million.

Aviation

In millions of euros                      H1 2013  H1 2012  2013 / 2012
                                                  pro forma
Revenue                                       791       761     +4.0% 
Airport fees                                  431       413     +4.4% 
Ancillary fees                                 99        86    +14.9% 
Airport security tax                          240       240     -0.1% 
Other revenue                                  21        22     -1.4% 
EBITDA                                        145       146     -0.9% 
Operating income from ordinary activities       8        28    -69.9% 

Over the  first half  of 2013,  aviation  revenue increased  by 4.0%  to  €791 
million.

Revenue from airport fees (passenger  fees, landing fees and aircraft  parking 
fees) was up 4.4%, at  €431 million, over the  first half of 2013,  benefiting 
from the combined increase in  tariffs (+3.4% on 1April  2012 and +3.0% on  1 
April 2013) and an improved passenger-traffic mix (international traffic  grew 
by 2.6% vs 0.5% for total traffic).

Ancillary fees were up 14.9%,  at €99 million, mainly  due to the increase  in 
proceeds from  the de-icing  fee (+112.3%,  at €20  million; up  €11  million) 
following heavy  snowfall  in the  first  quarter  of 2013.  The  increase  in 
proceeds from  the  de-icing  fee was  more  than  offset by  an  increase  in 
purchases of winter products (+€12 million) and sub-contracting (+€6 million).
The negative impact of snowfall on EBITDA was around €7 million.

The income from  airport security tax  is virtually stable,  at €240  million, 
mirroring the stagnation in security-related costs.

Other revenue, which mostly consists in re-invoicing the French Air Navigation
Services Division  and  leasing associated  with  the use  of  terminals,  was 
slightly down, at €21million.

As a result of an increase in operating costs of 4.6%, which was linked to the
impact of snowfall on raw material and consumable used and on  sub-contracting 
charges, EBITDA  was down  by 0.9%,  at €145  million. The  gross margin  rate 
reached 18.3%, down by 0.9 points.

Depreciation and amortisation  increased by 15.2%,  to €137 million  following 
the opening of new infrastructures in 2012 (satellite 4 and A-C junction)  and 
an amortisation  of €4  million linked  to the  disposal of  aircraft  stands. 
Operating Income from ordinary  activities was down by  69.9%, from €28 to  €8 
million.

Retail and services

In millions of euros                       H1 2013  H1 2012  2013 / 2012
                                                   pro forma
Revenue                                        472       439     +7.4% 
Retail                                         181       164    +10.5% 
Car parks                                       82        80     +2.8% 
Industrial services                             39        38     +2.7% 
Rental income                                   53        50     +6.8% 
Other                                          117       108     +8.1% 
EBITDA                                         261       247     +5.6% 
Associates from operating activities             3         3    +10.4% 
Operating income from operating activities     213       203     +5.0% 

Over the first half of 2013, retail and services revenue increased by 7.4%  to 
€472 million.

The revenue  from retail  (rents received  from shops,  bars and  restaurants, 
advertising,  banking  and  foreign   exchange  activities,  and  car   rental 
companies) grew by 10.5%, to €181  million. Rents from airside shops stood  at 
€128 million, up 10.1%, thanks to  the strong increase in sales per  passenger 
(+8.5% to €17.6). This  performance was mainly attributable  to the very  good 
results of  duty-free shops  over  all terminals  at Paris-Charles  de  Gaulle 
airport, whose sales per passenger  sharply increased (+6.3% to €32.3)  driven 
by the strong  growth in  traffic in  high-yield destinations  such as  Russia 
(+14.0%) or China (+8.9%) and the  continued healthy performance of fashion  & 
accessories and gastronomy activities.

Revenue from car parks rose slightly, by 2.8%, to €82 million.

Revenue from  the  provision of  industrial  services (electricity  and  water 
supply) increased by 2.7% to €39 million.

Rental revenue (leasing of space within  terminals) increased by 6.8%, to  €53 
million, mainly thanks to the opening of satellite 4.

Other revenue  essentially consisted  of internal  services and  increased  by 
8.1%, to €117million.

EBITDA rose by 5.6%, to €261 million.  The gross margin rate was down 1  point 
at 55.3%.

Operating Income from ordinary activities increased by 5.0%, to  €213million, 
impacted by  a  strong  increase  in  depreciation  and  amortisation  (+8.3%) 
partially offset  by the  growth in  the share  of profit  of associates  from 
operating activities (+10.4% to €3 million).

Real estate

In millions of euros                      H1 2013 H1 2012 2013 / 2012
Revenue                                       133     125     +6.7% 
External revenue                              107     100     +6.7% 
Internal revenue                               26      25     +7.0% 
EBITDA                                         78      74     +6.3% 
Operating income from ordinary activities      57      54     +5.5% 

Over the first half of  2013, real estate revenue  increased by 6.7%, to  €133 
million.

External revenue grew by 6.7%, to €107 million, driven by the positive  impact 
of indexing revenue to the cost of construction on 1 January 2013 (+4.6%)  and 
rents from new occupancies  of lands and buildings.  Internal revenue grew  by 
7.0%, to reach €26 million.

Thanks to effective control  over operating costs, EBITDA  was up by 6.3%,  at 
€78million. Gross margin reached 58.9%, down by 0.2 points.

Depreciation and  amortisation were  up by  11.3%, at  €21 million.  Operating 
income from ordinary activities was up by 5.5%, at €57 million.

Airport investments

In millions of euros                       H1 2013 H1 2012 2013 / 2012
Revenue                                          5       6    -14.5% 
EBITDA                                          -2       0       N/A 
Associates from operating activities             8       7    +19.2% 
Operating income from operating activities       6       6     -5.6% 

Over the first  half of 2013,  income from airport  investments (100% of  ADPM 
revenue) decreased by 14.5%, to €5 million. EBITDA was slightly negative.

Operating income from ordinary  activities decreased by  5.6%, to €6  million, 
despite the  growth in  associates  from operating  activities (+19.2%  to  €8 
million). The share in TAV Airports net results amounted to €1.4 million.

TAV Airports posted excellent results over  the first half of the year  thanks 
to the increase in  traffic (+24%) at  all its airports and  to the growth  in 
retail activities (+17%). TAV  Airports revenue was up  17%, at €567  million, 
EBITDA grew by 28%, to €166 million, and net result rose 7%, to €53 million.

Other activities

In millions of euros                       H1 2013 H1 2012 2013 / 2012
Revenue                                        129     113    +13.9% 
EBITDA                                           5       1       N/A 
Operating income from operating activities       1      -6       N/A 

Over the first half of  2013, revenue from other  activities was up 13.9%,  at 
€129 million.

Hub Télécomsaw its revenue grow by 30.0%, to €61 million, over the first half
of the year following a scope  effect linked to the acquisition of  Nomadvance 
in August 2012. EBITDA  amounted to €7 million,  down by 15.5%. The  operating 
income from ordinary activities stood at €1 million, down by 79.2%.

Revenue generated by Alyzia Sûreté grew by 3.9%, to €33 million. EBITDA was  a 
loss of         -€2 million, down by 41.9%.

ADPI saw its activity stabilise in the  first half of 2013. Its revenue  stood 
at €31million. EBITDA  was a loss  of €2million. The  operating income  from 
ordinary activities amounted to -€2million. At  the end of June, the  backlog 
(2013-2016) stood at €75 million.

Outlook

2013 forecasts

Assuming that traffic remains  stable in 2013  compared to 2012,  consolidated 
revenue and EBITDA are expected to grow slightly in 2013 compared to 2012.

2015 targets

EBITDA growth for  the 2009-2015 period  should still range  between +25%  and 
+35% assuming:

  *traffic growth of between 1.9% and 2.9% per annum on average between  2010 
    and 2015,

  *the increase in the parent company's operating charges are limited to less
    than 3%  per  year  on  average  between  2012  and  2015  thanks  to  the 
    cost-saving plan allowing savings of between €71 and €81 million in 2015,

  *the Return On Regulated Asset Base ranges between 3.8% and 4.3% in 2015, 

  *sales per departing passenger at airside shops of €19.0 in 2015.

Events having occurred since 30 June 2013

18 July 2013 announcement

Augustin de  Romanet,  Chairman and  CEO  of  the Aéroports  de  Paris  Group, 
presented the Group  strategic orientations to  the works council  on 18  July 
2013, in accordance  with the French  code law n°2013-504  dated 14 June  2013 
relative to employment protection.

Six strategic  principles were  presented to  the works  council in  order  to 
enhance the Aéroport de Paris' attractiveness to airlines and passengers:  the 
improvement  in  the  quality  of   customer  service  as  well  as   employee 
satisfaction; the strengthening of the operational robustness of airports; the
optimisation of economic  performance; the  objective of  becoming a  European 
reference in Environmental and Corporate Social Responsibility (ECSR) and  the 
ambition to seize opportunities of international development. 

The implementation  of  this  strategy would  lead  to  the setting  up  of  a 
multiannual recruitment plan in  passenger handling positions (120  employees) 
and in technical  and maintenance  trades (60  employees) along  with a  draft 
voluntary departure plan.

The latter, for which it  is proposed to trade  unions to open a  negotiation, 
would concern a maximum of 370  positions at the parent company, Aéroports  de 
Paris. It would take  place on a purely  voluntary basis, essentially  through 
end-of-career leaves and through support for personal projects (setting up  of 
new businesses, retraining to other activities, .). Envisaged for spring 2014,
its implementation would  provide a  boost to Aéroports  de Paris'  recruiting 
policy on positions essential to the provision of customer care, as mentioned
above, as well as reaching the target modified in December 2012 on the  change 
in the staffing  levels at  the parent  company over  the Economic  Regulation 
Agreement 2011-2015 period signed with the French State.

Passenger traffic for July 2013 and preliminary figures for August 2013

In July 2013, Aéroports de Paris saw 8.8 million passengers, a slight decrease
of 0.4%, on July 2012. 6.0 million passengers travelled through  Paris-Charles 
de Gaulle (-0.5%) and 2.8 million passengers through Paris-Orly (-0.2%). 

From 1 to 21 August  2013, Aéroports de Paris  saw 6.0 million passengers,  an 
increase of 4.6% compared to the same period in 2012.
From 1 July to 21 August 2013, Aéroports de Paris saw 14.8 million passengers,
an increase of 1.7% compared to the same period in 2012.

Calendar

  *Thursday 29  August  2013:  analysts  meeting  at  10:00  am  Paris  time. 
    Broadcast         and          presentation          available          at 
    http://www.aeroportsdeparis.fr/ADP/en-GB/Group/Finance/

  *Thursday 12 September 2013: August 2013 traffic figures

Investor Relations

Vincent Bouchery: + 33 1 43 35 70 58 - invest@adp.fr

Press

Christine d'Argentré: + 33 1 43 35 70 70

Website: www.aeroportsdeparis.fr







The financial  information  presented within  this  press release  comes  from 
Aéroports de Paris' consolidated  financial statements. Audit procedures  have 
been carried  out  and the  audit  report  relating to  the  certification  of 
Aéroports de Paris consolidated financial statements at 30 June 2013 is in the
process of being issued.

Consolidated financial statements at 30 June  2013 and the related report  are 
available on the Group website (www.aeroportsdeparis.fr) in the section "Group
/ Finance / Publications".

Forward looking statements

This press release does not constitute an offer of, or an invitation by or  on 
behalf of Aéroports  de Paris  to subscribe or  purchase financial  securities 
within the United States or in any other country. Forward-looking  disclosures 
are included  in this  press release.  These forward-looking  disclosures  are 
based on data,  assumptions and  estimates deemed reasonable  by Aéroports  de 
Paris. They  include  in  particular information  relating  to  the  financial 
situation, results and activity of Aéroports de Paris. These data, assumptions
and estimates  are  subject to  risks  (such  as those  described  within  the 
reference document filed  with the  French financial markets  authority on  26 
April 2013 under number D. 13-0437)  and uncertainties, many of which are  out 
of the control of Aéroports de Paris and cannot be easily predicted. They  may 
lead to  results that  are  substantially different  from those  forecasts  or 
suggested within these disclosures.

                                   Appendix

                        Consolidated Income Statement

                                Half-year 2013 Half-year 2012 Change     
(in thousands of euros)                          pro forma      2013 / 2012
Revenue                            1 346 079     1 267 303      +6,2% 
Capitalized production and
change in finished good               29 766        31 401      -5,2% 
inventory
Gross activity for the period      1 375 845     1 298 704      +5,9% 
Raw materials and consumables         (75 392)       (56 328)     +33,8% 
used
External services and charges        (335 506)      (329 527)     +1,8% 
Added value                          964 947       912 849      +5,7% 
Employee benefit costs               (377 536)      (356 408)     +5,9% 
Taxes other than income taxes         (91 791)       (95 372)     -3,8% 
Other ordinary operating              (12 529)        (9 028)     +38,8% 
expenses
Other ordinary operating income        5 022        10 347      -51,5% 
Net allowance to provisions and        (1 037)        5 564     -118,6% 
Impairment of receivables
EBITDA                               487 076       467 952      +4,1% 
EBITDA/Revenue                           36,2%          36,9%
Amortization                         (215 007)      (190 429)     +12,9% 
Profit/loss of associates from        14 086         8 774      +60,6% 
operating activities
Operating income from ordinary       286 156       286 297      -0,0% 
activities
Other operating income and            -         -          -
expenses
Operating income                     286 156       286 297      -0,0% 
Net financial income/expenses         (67 449)       (62 610)     +7,7% 
Profit/loss of associates from         (1 713)          851     -301,4% 
non operating activities
Income before tax                    216 993       224 538      -3,4% 
Income tax expense                   (91 823)       (79 139)     +16,0% 
Net results from continuing          125 170       145 399      -13,9% 
activities
Net income for the period            125 170       145 399      -13,9% 
Net income attributable to                 (2)           (13)        
non-controlling interests
Net income attributable to           125 172       145 412      -13,9% 
owners of the parent company

                          Consolidated Balance sheet

ASSETS                                   At 30.06.2013
(in thousands of euros)                                At 31.12.2012 pro forma
Intangible assets                             80 932                 94 438 
Property, plant and equipment              5 985 551              6 027 544 
Investment property                          416 017                404 707 
Investments in associates                  1 133 704              1 144 786 
Other non-current financial assets           142 955                154 983 
Deferred tax assets                            1 961                  2 314 
Non-current assets                         7 761 120              7 828 772 
Inventories                                   15 421                 15 777 
Trade receivables                            595 437                512 160 
Other accounts receivable and prepaid         87 780                106 098 
expenses
Other current financial assets                89 869                111 252 
Current tax assets                             5 084                 11 687 
Cash and cash equivalents                    843 679                797 121 
Current assets                             1 637 270              1 554 095 
Total assets                               9 398 390              9 382 867 
SHAREHOLDERS' EQUITY AND LIABILITIES     At 30.06.2013
(in thousands of euros)                                At 31.12.2012 pro forma
Share capital                                296 882                296 882 
Share premium                                542 747                542 747 
Treasury shares                               -                   (1 751)
Retained earnings                          2 858 477              2 926 181 
Other equity items                            (53 215)                (51 966)
Shareholders' equity - Group share         3 644 891              3 712 093 
Non controlling interests                        157                    158 
Shareholders' equity                       3 645 048              3 712 251 
Non-current debt                           3 649 787              3 483 011 
Provisions for employee benefit              370 607                360 970 
obligations (more than one year)
Deferred tax liabilities                     210 324                201 829 
Other non-current liabilities                 69 465                 73 775 
Non-current liabilities                    4 300 183              4 119 585 
Trade payables                               347 426                459 561 
Other payables and deferred income           517 483                523 441 
Current debt                                 481 975                470 230 
Provisions for employee benefit               15 453                 15 448 
obligations (less than one year)
Other current provisions                      83 075                 81 821 
Current tax payables                           7 747                    530 
Current liabilities                        1 453 159              1 551 031 
Total equity and liabilities               9 398 390              9 382 867 

                     Consolidated Statement of Cash flows

                                                 Half-year 2013 Half-year 2012
(in thousands of euros)                                           pro forma
Operating income                                      286 156       286 298 
Elimination of income and expense with no impact      203 163       173 009 
on net cash
Financial net income (expense) other than cost            169         1 703 
of debt
Operating cash flow before changes in working         489 488       461 010 
capital and tax
Change in working capital                              (80 044)       22 232 
Income taxes paid                                      (82 373)      (110 218)
Cash flows from operating activities                  327 071       373 024 
Proceeds from sale of subsidiaries (net of cash        -         19 946 
sold) and associates
Acquisitions of subsidiaries and associates (net       -        (715 189)
of cash acquired)
Purchase of property, plant, equipment and            (176 895)      (243 920)
intangible assets
Change in other financial assets                        (1 723)        (5 300)
Proceeds from sale of property, plant and                 177         2 853 
equipment
Dividends received                                     33 401         7 332 
Change in debt and advances on asset                   (86 006)      (100 259)
acquisitions
Cash flows used in investing activities               (231 046)    (1 034 537)
Capital grants received in the period                     137         1 957 
Purchase of treasury shares (net of disposals)          1 784            20 
Dividends paid to shareholders of the parent          (204 849)      (174 171)
company
Proceeds from the issue of long-term debt             593 744       793 411 
Repayment of long-term debt                           (341 966)      (336 306)
Change in other financial liabilities                       (3)        (3 564)
Interest paid                                         (134 453)      (128 551)
Interest received                                      35 882        47 364 
Cash flows from (used in) financing activities         (49 724)      200 160 
Impact of currency fluctuations                            12            38 
Impact of changes of accounting method                      1        -  
Change in cash and cash equivalents                    46 314       (461 315)
Net cash and cash equivalents at beginning of         795 893     1 107 818 
the period
Net cash and cash equivalents at end of the           842 207       646 503 
period

Aéroports de Paris: 2013 Half-Year Results press release

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