Groupe ADP maintains growth in average retail spend despite headwinds

FRANCE. Leading airport company Groupe ADP has reported first-quarter revenues to 31 March, with its Retail and Services division posting a +14.8% rise year-on-year to €489 million.

The division now includes the contribution of service companies P/S and Paris Experience Group, acquired in October 2024, and of SDA Croatia. Excluding these effects, the division’s revenue would have increased by +4% on Q1 2024.

This reflects a slightly slower rate of growth compared to passenger traffic, which rose +4.5% at the two major Paris airports (Charles de Gaulle and Orly) and +6.7% group-wide.

The key figure of Extime Paris spend per passenger rose by +2.2% year-on-year to €33.40 in the period. While growth was maintained in Q1, ADP noted some headwinds to average spend. These include renovation works at CDG 2E Hall K and the normalisation this year of advertising income, which surged in 2024 to coincide with the Paris Olympic Games.

The company maintained its outlook of +4% to +6% growth in spend per passenger compared to 2023.

Q1 revenue from retail (including airside and landside shops, bars and restaurants, banking and foreign exchange activities, car rental and advertising) rose by +26.8% to €331 million.

Within this, income from Extime Duty Free Paris and Extime Travel Essentials (both JVs with Lagardère Travel Retail) climbed by +8.6% and +14.3% respectively to €190 million and €40 million, with Other Shops and Bars and Restaurants up +21.4% to €34 million.

Total consolidated revenue for the quarter rose +12.2% to €1,486 million.

Among key projects, this month saw the opening of the latest terminal in the Extime Paris retail & hospitality network, at Paris Orly T4, flagged during our recent visit to Groupe ADP.

This new ‘Lifestyle Terminal’ will feature six new bars and restaurants that will open through 2025 plus a further eight shops in 2026.

April also saw the opening of the extended T2 at Antalya Airport, co-managed by ADP subsidiary TAV Airports and Fraport Group. A new 25-year management agreement for the airport begins in January 2027.

Groupe ADP Chairman & CEO Philippe Pascal said: “The first quarter of 2025 has been marked by good momentum in all our activities both in Paris and abroad, and by the initiation of structuring projects that will shape the company’s future.

“During the quarter we have welcomed 82.1 million passengers in all of the group’s airports, +6.7% above traffic over the same period in 2024. At Paris Aéroport, traffic was up +4.5%, with 23 million passengers.

“This dynamism, in line with our expectations, and the good performance of retail activities in Paris, allow us to record a strong consolidated revenue growth of +12.2%. We confirm all 2025 financial targets.”

*Click here for a recent interview with Groupe ADP Chief Customer Officer Mathieu Daubert about the evolution of the Extime concept.