2010 Registration Document

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2010 Registration Document 2010 REGISTRATION DOCUMENT A French société anonyme (public limited company) with share capital of 296,881,806 euros Registered office: 291 boulevard Raspail, 75014 Paris 552 016 628 RCS Paris 2010 REGISTRATION DOCUMENT This document includes the 2010 annual financial report. Copies of this registration document are available at no charge from Aéroports de Paris, 291 boulevard Raspail, 75014 Paris, and on the web sites of Aéroports de Paris (www.aeroportsdeparis.fr) and the AMF (www.amf-france.org). In due application of Article 28 of the European Commission’s regulation EC no. 809/2004, this registration document refers to information contained in: the consolidated financial statements of Aéroports de Paris for the financial year ended 31 December 2009, and the report by the Statutory Auditors on these financial statements, presented in appendices 1 and 2 of the Aéroports de Paris registration document registered by the French Financial Market Authority (AMF) on 22 March 2010 under number D. 10-0135 (the “2009 registration document”) and modified by the amendment submitted on 29 March 2010 under number D. 010-0135-R01; the consolidated financial statements of Aéroports de Paris for the financial year ended 31 December 2008 and the report by the Statutory Auditors on these financial statements, presented on appendices 1 and 2 and the Aéroports de Paris registration document registered by the AMF on 30 April 2009 under number R. 09-038 (the “2008 registration document”); examination of the financial position and income of Aéroports de Paris for the financial years ended 31 December 2008 and 2009, presented in chapter 9 of the 2008 and 2009 registration documents; the Statutory Auditors’ report on related party agreements and commitments for the financial years ended 31 December 2008 and 2009, presented in appendix 5 of the 2008 registration document and appendix 1 of the 2009 registration document. This document is an informal English version of the “2010 document de référence” filed the 21st of April 2011 with the Autorité des Marchés Financiers under no. D.11-0352. In case of any discrepancy between this document and the “2010 document de référence” will govern. This document has not been and will not be submitted to the clearance procedures of the French Autorité des Marchés Financiers (the “AMF”). No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of Aéroports de Paris or its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its contents or otherwise arising in connection with this document. This document is not an offer to sell or the solicitation of an offer to purchase securities and is not part of any offer. Neither this document nor its contents may be used for any offer or sale or any such solicitation anywhere in the world. AÉROPORTS DE PARIS / 2010 Registration Document 1 CONTENTS 01 PERSONS IN CHARGE OF THE 10 EQUITY AND CASH FLOWS 81 REGISTRATION DOCUMENT AND Equity 81 ANNUAL FINANCIAL STATEMENT 5 Cash fl ows 81 Person in charge of the registration document and 2010 annual fi nancial report 5 Net debt 83 Report of the person in charge 5 Financial risk management 83 Group commitments 83 02 STATUTORY AUDITORS 7 11 Standing Statutory Auditors RESEARCH AND DEVELOPMENT, for the fi nancial year 2010 7 PATENTS AND LICENSES 85 Substitute Statutory Auditors Research and development 85 for the fi nancial year 2010 7 Trademarks, patents and licenses 85 03 SELECTED FINANCIAL INFORMATION 9 12 INFORMATION CONCERNING TRENDS 87 Summary consolidated income statement 9 Change in fees 87 Summary consolidated balance sheet 9 Tariff of airport security tax 87 Summary Consolidated cash fl ows statement 10 Traffi c for the fi rst quarter of 2011 87 Financial debt 10 Dividend distribution policy 87 Strengthening of the commercial development of joint-ventures with Lagardère Services 88 04 RISK FACTORS 11 Aéroports de Paris and Aelia plan to merge Risk factors 11 Duty Free Paris and Société de Distribution Risk Management 16 Aéroportuaire 88 Sale of the Masternaut group 88 Recent events in Libya 88 05 INFORMATION ON THE COMPANY 19 Information 19 13 History of the Company 19 GUIDANCES 89 Investments 21 Guidances for the 2011-2015 period 89 2011 Guidances 89 Statutory Auditors’ report on the Group’s Guidances 90 06 BUSINESS OVERVIEW 25 Presentation of activity 25 14 Presentation of the market 29 BOARD OF DIRECTORS Description of Aeroports de Paris Airports 35 AND EXECUTIVE MANAGEMENT 91 Board of Directors and Deputy CEO 91 Description of activities 43 Personal information concerning the Board members Legal and regulatory environment 61 and the Deputy CEO 96 Environmental information 64 07 COMPENSATION AND BENEFITS ORGANISATION CHART 69 15 OF CORPORATE OFFICERS 97 Corporate offi cer compensation 97 08 REAL ESTATE PROPERTY Remuneration paid to Board members 99 AND FACILITIES 71 Remuneration paid to non-voting Board members 99 Real estate property and facilities 71 Company shares held by Board members 99 Environmental constraints 72 Compensation of Executive Committee members 100 Pensions and other benefi ts 100 09 REVIEW OF THE GROUP’S FINANCIAL POSITION AND INCOME 73 Key fi gures 73 Highlights of the 2010 fi nancial year 74 Analysis of 2010 results 75 2 AÉROPORTS DE PARIS / 2010 Registration Document 16 FUNCTIONING OF THE BOARD 23 INFORMATION FROM THIRD OF DIRECTORS PARTIES, EXPERTS’ STATEMENTS AND MANAGEMENT BODIES 101 AND STATEMENTS OF INTEREST 229 Functioning of the board of directors and management bodies 101 24 Functioning of committees associated DOCUMENTS AVAILABLE with the Board of Directors 105 FOR THE PUBLIC 231 Corporate governance – Adherence to the principles of governance 107 25 INFORMATION ON ACQUISITIONS 233 17 EMPLOYEES – HUMAN RESOURCES 109 A1 APPENDIX 1 Corporate data 109 Corporate indicators for the Group 113 SPECIAL REPORT BY THE STATUTORY AUDITORS ON REGULATED COMMITMENTS AND AGREEMENTS 235 18 MAIN SHAREHOLDERS 115 Shareholding of the Company 115 A2 APPENDIX 2 Change of control of the Company 116 REPORT BY THE CHAIRMAN Shareholder agreements 116 OF THE BOARD OF DIRECTORS 245 19 OPERATIONS WITH RELATED PARTIES 119 A3 APPENDIX 3 Relations with Government authorities and administrative authorities 119 REPORT BY THE STATUTORY AUDITORS Relations with related parties 120 ON THE REPORT BY THE CHAIRMAN OF THE BOARD OF DIRECTORS 271 20 FINANCIAL INFORMATION A4 ON THE ASSETS, FINANCIAL APPENDIX 4 SITUATION AND INCOME 121 LIST OF DOCUMENTS PUBLISHED Consolidated fi nancial statements and appendices IN THE LAST 12 MONTHS 273 of Aéroports de Paris on 31 December 2010 122 Report of the Statutory Auditors on the consolidated fi nancial statements 185 A5 APPENDIX 5 Company fi nancial statements and appendices ANNUAL FINANCIAL REPORT 275 of Aéroports de Paris on 31 December 2010 186 Auditor’s report on the fi nancial statements 216 Pro forma fi nancial data 218 Interim fi nancial data 218 Dividend distribution policy 218 Legal proceedings 218 Material change in the fi nancial or commercial position since 31 December 2010 220 21 ADDITIONAL INFORMATION ON THE SHARE CAPITAL AND PROVISIONS OF THE MEMORANDUM AND ARTICLES OF ASSOCIATION 221 Information on the share capital 221 Provisions of the Articles of Association 224 22 MATERIAL CONTRACTS 227 Elements from the annual fi nancial report are identifi ed by means of the pictogram AÉROPORTS DE PARIS / 2010 Registration Document 3 4 AÉROPORTS DE PARIS / 2010 Registration Document PPERSONSERSONS IINN CCHARGEHARGE OOFF TTHEHE RREGISTRATIONEGISTRATION 01 DDOCUMENTOCUMENT AANDND AANNUALNNUAL FFINANCIALINANCIAL SSTATEMENTTATEMENT Throughout this registration document, the terms “Aéroports de Paris” or “the Company” will refer to the company Aéroports de Paris SA. The term “Group” will refer to the group of companies formed by the Company and all of its subsidiaries. PERSON IN CHARGE OF THE REGISTRATION DOCUMENT AND 2010 ANNUAL FINANCIAL REPORT Pierre Graff, Chairman and Chief Executive Officer of Aéroports de Paris. REPORT OF THE PERSON IN CHARGE Having taken all reasonable measures for such a purpose, I certify that, to the best of my knowledge, the information contained in this registration document, including its appendices, is accurate and correct and contains no omission likely to affect its meaning. I certify that, to the best of my knowledge, the financial statements have been prepared in accordance with applicable accounting standards and give a true and fair view of the assets, financial position and results of the Company and all the companies in its consolidation scope and the management report. The annual financial report in appendix 5 of this registration document presents a true picture of business developments, income and the financial position of the Company and all the companies in its consolidation scope as well as a description of the main risks and uncertainties that they face. I have obtained an Accountant’s certificate from the Statutory Auditors, in which they state that they have verified the information relating to the financial position and the financial statements provided for herein, and that they have read the document in its entirety. The consolidated financial statements of the financial year ended 31 December 2010 were audited by Statutory Auditors who wrote a report contained in chapter 20 of this registration document. The annual consolidated financial statements for the financial year ended 31 December 2009 were the subject of a report made by the Statutory Auditors which appears in chapter 20 of the 2009 registration document. In this report, without qualifying the opinion that they have expressed on the financial statements, the Statutory Auditors have made an observation drawing the reader’s attention to note 3.1.2. of the appendix to the consolidated financial statements, describing the status of the current procedures concerning the Economic Regulation Agreement and an observation on the change in the accounting method following the application of the IFRS 8 standard in relation to segment reporting.
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