Aeroports de Paris : Still too much uncertainty: Underperformance recommendation confirmed
>Guidance downgrade: H2 traffic set to total 50% of the 2019 level - As described in our comment of July 29, ADP has reduced its 2021 guidance for both EBITDA margin (now expected at between 15% and 20% vs. between 18% and 23% previously) and traffic (Parisian traffic set to total 30-40% of the 2019 level vs. 35-45% previously). During the conference call and other calls we have organised, Philippe Pascal (CFO of ADP) confirmed he was expecting H2 traffic of around ...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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