Airport development within VINCI 1
The airport sector: a development goal since 1995 VINCI Concessions: a portfolio of outstanding airport concessions 22 airports in Mexico 2 airports in Cambodia: Phnom Penh and Angkor 1 airport in China: Beijing 1 airport in Belgium: Liège A significant position in airport services: SEN Partnerships with ADP and CPH 2
The airport sector: : a strategic development focus for VINCI The air transport market offers strong and sustained growth prospects. Globalization of flows Increase in travel: growth in passenger traffic Increase in trade: growth in freight transport Expansion of air transport Democratisation of air travel with the low cost carriers Reduction in the relative share of transport in the cost of products Increasing use of air transport for high added value goods 3
The airport sector: : a strategic development focus for VINCI Resulting in the development of: Airport infrastructure Passenger and logistics services On-site technical services 4
VINCI's goal: to become a worldwide airport operator The airport business offers excellent growth prospects The airport business has low business cycle sensitivity Recurring profitability Diversified sources of revenue: Concessions Services Revenues denominated in hard currencies Infrastructure investments spread out over time 5
The airport sector: : a strategic development focus for VINCI VINCI's strong points: Management capabilities Synergies with VINCI's other business lines (outsourcing of public services, maintenance, parking, runway and terminal construction, electrical engineering, information technologies) Financial clout International network Ability to establish partnerships with other players 6
The airport sector: : a strategic development focus for VINCI The airport sector is now undergoing major restructuring Privatisation of public-sector operators (BAA, Copenhagen, Frankfurt, Zurich, Vienna,, Beijing, etc.) Airlines pulling out of airport services Airlines have a global approach to the market (concentration - alliances) and are seeking global partners (airport operators/service providers)! VINCI's ambition is to integrate the business lines and develop a global approach to the market. 7
The airport sector: : a strategic development focus for VINCI An exceptional opportunity: A leading airport services provider 8
WFS: a leading position in the world WFS, US leader and among the three world leaders in airport services: Serving more than 300 customers (airlines,, air freight companies, airports) Operating at nearly 100 airports throughout the world, serving approximately 500 million passengers a year 500,000 flights per year 600,000 tons of freight per year 12,000 employees (of which about 40% part-time time) 9
WFS : a leading position in the world Worldwide locations with a focus on the US and promising development in Europe 2001 net sales (expected US$ 370 million expected): Europe 15% Canada 5% Asia 3% Caribbean 2% USA 75% Net sales by geographical area 10
WFS: a leading position in the world A complete range of airport service capabilities Technical support 12% Passengers 17% Cargo 49% Ramp services 22% Net sales by business line 11
Locations in the US Seattle Sacramento San Francisco Oakland San Jose Mather AFB Las Vegas Burbank Los Angeles Jackson Hole Omaha Steamboat Springs Salt Lake City Vail Gunnison Denver Colorado Springs Montrose Buffalo Boston Hartford/Springfield Newburgh Providence Detroit Islip Harrisburg New York (JFK & LGA) Cleveland Newark Pittsburgh Chicago Dayton Philadelphia Columbus Baltimore Cincinnati Washington, DC Richmond Norfolk Louisville Greensboro Raleigh/Durham Charlotte Memphis Greenville/Spartanburg Atlanta Honolulu Maui Tucson Houston Dallas Fort Worth Jackson Jacksonville Orlando Tampa St. Petersburg West Palm Beach Ft. Myers Fort Lauderdale Miami Caribbean Montego Bay Kingston St. Thomas St. Croix 12
Locations in Canada Vancouver Moncton Mirabel Dorval Ottawa Toronto Hamilton Halifax 13
Locations in Europe and Asia Amsterdam Brussels London (Charles de Gaulle, Lille, Lyon, Marseille, Orly, Toulouse) France Frankfurt Vienna Milan Rome Barcelona Madrid Hong Kong 14
VINCI's goal: to become a worldwide airport operator! A rapidly accretive acquisition! Strong potential for value creation 15
VINCI's goal: to become a worldwide airport operator VINCI (WFS + SEN ): among the three world leaders in airport services Net sales of 500 million euros with EBITDA on the order of 50 million euros* Operating at more than 100 airports 550,000 flights per year * Projection 2002 16