ADP Net Profit Up 11 Percent

February 24, 2011

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Aeroports de Paris reported 2010 gross earnings up 5 percent, with revenues rising 4 percent, and predicted a slight acceleration of growth this year on hopes that the aviation industry is out of recession.

ADP's earnings before interest, taxes, depreciation and amortisation (EBITDA) reached EUR€927 million, up from EUR€883 million a year before, and revenue rose 4 percent to EUR€2.74 billion, driven by retail spending and real estate developments.

Net profit at the operator of Charles de Gaulle and Orly airports rose 11.3 percent to EUR€300 million.

"For 2011, assuming passenger traffic increasing by 4-5 percent, Aeroports de Paris anticipates a growth of consolidated revenue and EBITDA slightly above the growth observed in 2010," the state-controlled company said in a statement.

ADP reaffirmed a long-term commitment to boost its EBITDA by 40 percent in 2015 compared with the 2009 level.

ADP said it had broadened a duty-free partnership with Lagardere Services to include the sale of newspapers, books and snacks in a joint venture running to October 31, 2019.

(Reuters)