Airport operator ADP Q1 revenue boosted by post-pandemic travel boom

By Thomson Reuters Apr 26, 2024 | 12:51 AM

By Diana Mandia

(Reuters) -French airport group ADP reported on Friday a better-than-expected rise in first-quarter revenue, benefiting from the post-pandemic holiday boom and as travellers splashed more cash on food and drink at its airports.

“All segments of activities are growing, especially the contribution of international activities, driven by the strong traffic momentum at (Turkish airport operator) TAV Airports,” Chief Executive Officer Augustin de Romanet said in a statement.

The group, which runs the French capital’s Orly and Roissy Charles de Gaulle airports, posted consolidated revenue of 1.32 billion euros ($1.42 billion), up 10% and slightly better than the 1.29 billion euros expected in a company-compiled consensus.

ADP also confirmed its targets for 2024 and 2025.

The retail and services segment, which includes shops, bars, restaurants as well as car rental companies, saw revenue increase by 11.1% to 426 million euros.

(Reporting by Diana Mandiá;Editing by Josephine Mason)