Aeroports de Paris : Return to a purely fundamental target price of € 160
>More limited impact of cyclical elements in H2 - Whilst the organic increase (excluding M&A, nominal user fees known as “ticket moderateurâ€, IFRS16, settlement of litigation, etc.) in EBITDA stood at 7% in S1, this came in a shade below our forecasts, principally due to the cyclical increase in a number of charges (communication on the new toponymy at Orly, new uniforms, rollout of Parafe, etc.). We think that this represents the equivalent of a touch over 1% of EBI...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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