My Top Risks

Economic risk
All of ADP’s revenue and some of its subsidiaries are closely linked to fluctuations in air traffic levels. This revenue may be direct, as is the case with aeronautical fees, which depend on aircraft movements and the number of passengers, or indirect in the case of revenue generated from car parks and shops. Air traffic levels depend on many factors not least the economic situation in France or abroad. A declining or stagnant economy could have a direct impact on the volume of traffic or the business of airlines, and subsequently on ADP’s revenue and financial position.

Air traffic levels depend on many factors not least the economic situation in France or abroad.

Health risk
The political and health situation in France or anywhere in the world is another major risk for ADP. The outbreak of an epidemic or the fear of an outbreak, as was the case with the Severe Acute Respiratory (SARS) in 2003 or the H1N1 flu virus, may all adversely affect air traffic and lead to a drop in revenues and higher costs as a result of the sanitary measures implemented.

Exceptional natural or meteorological events
The occurrence of events resulting from exceptional natural phenomena, such as the volcanic ash cloud caused by eruption of the volcano in Iceland in 2010 can have a significant impact on business activity. Storms or flooding can also seriously impede business from taking place These events can disturb the operations of airport infrastructure in a direct way by reducing the operating capacity of facilities and even lead to temporary closure. They may also have an impact on airlines, essential service providers and infrastructure that is critical to the running of the business such as water, electricity, fuel supplies and road networks. These all have an indirect impact on the working capacity of business facilities.