By Thomas Varela
PARIS--French state-controlled airport operator Aeroports de
Paris SA (ADP.FR) doesn't plan major acquisitions over the next two
years, as it concentrates on bedding down its first foreign
acquisition of a 38% stake in Turkish airport operator TAV Holding
(TAVHL.IS) in March.
The company doesn't plan to bid for the recently announced
privatization of Portuguese airports, Aeroports de Paris's Chief
Financial Officer Laurent Galzy said on a conference call with
reporters. The company, however, is still interested in Brazilian
airports though it would invest with partners in a consortium, he
added.
Galzy's comments come after the company reiterated it expects a
slight growth in revenue and earnings before taxes, interest,
depreciation and amortization in 2012. The company expects
passenger traffic to rise 3.2% a year on average between 2010 and
2015 and it forecasts its Ebitda to rise 40% between 2009 and
2015.
The company also said its first-half net profit fell 18% to 147
million euros ($184 million), though revenue rose 4.1% to EUR1.27
billion over the same period. The net profit declined because
profit in the first half of 2011 included income from the sale of
assets.
During the conference call, Mr. Galzy also said Chief Executive
Pierre Graff will leave the company in November after reaching the
65 years age limit set by company's corporate governance rules.
Both Mr. Galzy and Mr. Graff, who spoke in an interview with local
radio station Radio Classique, declined to provide details on the
CEO's succession plan.
Shares of Aeroports de Paris were down 2.9% at EUR62.73 at 1010
GMT.
-Thomas Varela, Dow Jones Newswires; +331 40 17 17 72;
thomas.varela@dowjones.com
(Inti Landauro contributed with this article.)
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