Groupe ADP triples its net profit in the first half of the year, driven by the sale of GMR Airports

Groupe ADP recorded revenues of €3,215 billion in the first half of 2026, up 1,6% year-on-year, according to its half-year results . However, its current EBITDA declined by 1%, to €1,015 billion.

A capital gain of 257 million euros

Net income attributable to the group increased 3,2 times, rising from €97 million to €312 million. This increase is mainly due to the capital gain of €257 million recorded on the sale of 3,4% of GMR Airports' share capital.

Completed in April 2026, the transaction allowed Groupe ADP to monetize part of its stake in its Indian subsidiary. However, the impact of this sale on earnings must be considered in light of a negative change of €124 million related to the fair value of the associated financial instruments.

“Despite a challenging geopolitical environment, Groupe ADP has delivered a resilient performance,” said Philippe Pascal, Chairman and CEO of Groupe ADP.

Traffic forecast revised downwards in Paris

Parisian airports welcomed 51,6 million passengers in the first half of the year, representing a limited increase of 0,5% year-on-year. Traffic was particularly impacted by the conflict in the Middle East, which led to a 16,3% decrease in connections with that region, as well as by a decline in some flows to North and Latin America.

In this context, Groupe ADP has lowered its forecast for traffic growth in Paris for the whole of 2026 to around 0,5%, compared to a range of 1,5 to 2,5% previously.

Traveler spending declines

Spending in shops and restaurants at Parisian airports also declined. Sales per passenger amounted to €31 in the first half of the year, down 2,7%.

Groupe ADP attributes this development to the slowdown in the luxury market, the appreciation of the euro, the work carried out in some terminals at Paris-Charles de Gaulle and the disruptions to air traffic linked to geopolitical tensions.

Savings of between 40 and 60 million euros are expected.

To maintain its financial objectives, the manager implemented several cost-cutting measures in the second quarter. These are expected to generate between 40 and 60 million euros in savings in 2026, primarily in the second half of the year.

The plan includes, in particular:

• the postponement of expenses considered non-priority;
• greater selectivity in recruitment;
• reducing expenses for consulting, communication, events and travel;
• an adjustment of certain outsourced services, particularly in reception, cleaning and non-essential maintenance.

The group indicates, however, that it wants to maintain its investments and expenditures deemed strategic.

Annual outlook confirmed

For the full year 2026, Groupe ADP now forecasts current EBITDA of between €2,30 billion and €2,35 billion. This figure reached €2,32 billion in 2025.

Investments are expected to amount to around 1,45 billion euros across the group, of which nearly one billion is for ADP SA.

An €8,2 billion investment program in Paris

Groupe ADP and the French State have also reached an agreement on a draft economic regulation contract covering the period 2027-2034. The document provides for 8,2 billion euros of regulated investments in Parisian airports.

This program is intended to finance, in particular, the modernization of infrastructure, the improvement of service quality, and the environmental transformation of airport facilities. Philippe Pascal presents it as the largest investment program ever considered for Parisian airports.

The project still needs to be submitted for consultation with airlines and the public, and then to the Transport Regulatory Authority for its opinion. It is expected to come into effect at the beginning of 2027.

An international airport network

In addition to Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget, Groupe ADP operates a vast international network. Its main hubs include the airports of New Delhi and Hyderabad in India, Antalya in Turkey and Santiago in Chile.

The group also has a presence in Southern Europe, the Middle East, Central Asia, Indonesia and Madagascar.