(MENAFN) French airport operating group ADP exceeded expectations with a notable increase in first-quarter revenues, attributing its success to a surge in holiday activity in the post-pandemic era. This growth was further bolstered by an uptick in spending by travelers on food and beverages at the airports under its management. CEO Augustin de Romanet highlighted the broad-based growth across all activity sectors, particularly emphasizing the robust contribution from international activities. Notably, this was supported by a significant uptick in passenger traffic at TAV Airports, a Turkish airport management company co-owned by ADP.
The group, which oversees operations at Orly and Charles de Gaulle airports in Paris, reported combined revenues amounting to 1.32 billion euros (USD1.42 billion) for the first quarter, marking a substantial 10 percent increase. This figure slightly outpaced the average forecast compiled by the company, which had projected revenues of 1.29 billion euros.
However, amidst the positive momentum, there were challenges noted in certain regions. Revenues at Queen Alia International Airport in Amman, Jordan, experienced a decline of 7.1 percent. Philippe Pascal, Deputy Chief Financial Officer of ADP, attributed this downturn to the ongoing crisis in the Middle East. The airport also recorded a 4.6 percent decrease in passenger traffic, reflecting the broader impact of geopolitical tensions on travel patterns in the region.
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