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

Thanks to a better fundamental star rating, ADP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to ADP (FR), active in the Transportation Services industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date October 20, 2020, the closing price was EUR 89.05 and its expected value was estimated at EUR 85.72.

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

Analyse moyen terme - ADP : La correction gagne en vigueur.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 171,92 €.

Chaima Ferrandon ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Maissa Keskes
  • Martin Marandon-Carlhian
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould
  • Thomas Renaud
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 09/18/2020

The group has, without any major hitches, rolled out its 2022 business plan to reach 5 GW in operation, but the main issue revolves around the volume growth (new MW) expected beyond 2022 and its financing (self-financing of equity for 500 MW/year or a capital increase further out). While we are aware that the stock is a “must have” in the renewable energies segment, the fact remains that Neoen’s valuation is too generous, and largely precludes any value-creating move by a predator. We...

Chaima Ferrandon ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Maissa Keskes
  • Martin Marandon-Carlhian
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould
  • Thomas Renaud
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 18/09/2020

Alors que Neoen déroule sans accros majeurs son plan d’affaires à l’horizon 2022 pour atteindre 5 GW en opération, la question se pose sur la croissance des volumes (nouveaux MW) à attendre au-delà de 2022 et son financement (autofinancement de l’equity pour 500 MW/an ou augmentation de capital au-delà). Conscients que le titre est un « must have » dans le segment des énergies renouvelables, Neoen bénéficie d’une valorisation boursière trop généreuse, qui rend quasi impossible toute p...

Chaima Ferrandon ...
  • Virginie Rousseau

ODDO : The bad news continues in September

>No positive trend on air traffic in September - During the conference call that we held on 4 September, Edward Arkwright (deputy CEO of ADP) indicated that after a lacklustre summer, September would be a key indicator for trends in the coming months. The news is not very encouraging.Firstly, the first available traffic figures for the month show a fresh deterioration vs August: in Nice whilst the decline stood at around -55% in August, the first two weeks of Sep...

Chaima Ferrandon ...
  • Virginie Rousseau

ODDO : Les mauvaises nouvelles continuent en septembre…

>Le trafic aérien de septembre ne semble pas bien orienté - Lors du call que nous avons organisé le 4/09, Edward Arkwright (deputy CEO d’ADP) indiquait qu’après un été en demi-teinte, le mois de septembre serait clé pour juger des tendances des prochains mois. Force est de constater que les nouvelles ne sont pas encourageantes.Tout d’abord, les premiers chiffres de trafic disponibles pour le mois montrent une nouvelle dégradation par rapport au mois d’août : à Ni...

Virginie Rousseau ...
  • Yan Derocles

Aeroports de Paris : Conference call feedback: roll on 2024…

>Mixed summer in Paris, September will be decisive - We held a conference call on Friday with Edward Arkwright, ADP’s deputy CEO, in which he discussed traffic trends in the summer. While July was generally good (to recap, traffic in Paris was down 77.1% vs -93.2% in June), August looks more disappointing (traffic figures will be published on 16/09): the good trend in domestic and overseas department traffic confirms the resilience of the VFR segment. Conversely, gove...

Expert Corporate Governance Service (ECGS)

Aéroports de Paris – AGM 12 May 2020

ITEM 21: The Company proposes to insert a Preliminary Article to the Articles of Association of the Company before Article 1 in order to clarify its purpose ("Raison d'Être"). While it is appreciable that the company has decided on a Raison d'Être that is specific to its business, it is regrettable that the company has not communicated the process by which it came up with this Raison d'Être or whether stakeholders were involved (and if so, how many participants were involved). However, we have no reason to oppose this resolution. ITEMS 15 and 31: In view of the current health crisis, the comp...

Jehanne Leroy

Aéroports de Paris - Assemblée Générale des actionnaires du 12 mai 2020

La société propose d’insérer un article Préliminaire aux statuts de la société avant l’article 1 afin de préciser sa Raison d'Être. S’il est appréciable que la société ait décidé d’une Raison d’être qui lui est spécifique, on regrettera toutefois qu’elle n’ait pas communiqué le processus l’ayant conduite à rédiger cette Raison d'Être ou encore si des parties prenantes ont été mises à contribution (et si c’est le cas, combien de participants ont été mis à contribution). Cependant, nous n’avons de raison de nous opposer à cette résolution. Nous recommandons donc l’approbation de la résolution 21...

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...

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,...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/08/2020

The future European taxonomy should prove advantageous to groups like Schneider Electric, for which “green sales” already represent 70% and help its clients save an average of 40 Mt in CO2 per annum. On our reckoning, this is equivalent to € 8.3bn in “hidden green value” (€ 15 per share) which could result in more robust future growth. Apart from this ESG impact, the group should see a marked rebound in its results in 2021-2022 with FCF reaching a new threshold thus confirming the ong...

Jean Sassus ...
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/09/2020

La future taxonomie européenne devrait avantager des groupes comme Schneider Electric, dont 70% du chiffre d’affaires est déjà « vert » et qui permet à ses clients d’économiser chaque année 40 Mt CO2 en moyenne. Ceci équivaut, selon nous, à 8.3 Md€ de « valeur verte cachée » (15 €/action) qui pourrait se retrouver dans une croissance future plus soutenue. Outre cet impact ESG, le groupe devrait connaître un net rebond de ses résultats en 2021-22 et le FCF a franchi un nouveau seuil co...

Emmanuel Matot

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/07/2020

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Thanks to a better fundamental star rating, ADP sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to ADP (FR), active in the Transportation Services industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date October 20, 2020, the closing price was EUR 89.05 and its expected value was estimated at EUR 85.72.

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 we...

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