French airport operator Aéroports de Paris SA, or Groupe ADP, raised its 2018 EBITDA outlook after its net income rose about 26.9% year over year in the first half.
Net income attributable to the company stood at €205 million, or €2.07 per share, for the six months ended June 30, up from €161 million, or €1.63 per share, in the same prior-year period.
Revenue totaled €2.10 billion, up 43.9% from €1.46 billion. Groupe ADP said the gain was driven by the positive impact of the full consolidation of the results of TAV Airports and AIG. Sales per passenger slipped 1.3% to €17.9 from €18.1.
EBITDA rose to €815 million from €610 million. The EBITDA-to-revenue ratio stood at 38.8%, compared with 41.8% in the same period last year.
Operating income came in at €468 million in the first half, up on a yearly basis from €341 million.
Groupe ADP said it now expects its 2018 consolidated EBITDA to increase between 17% to 22% from the prior year, up from the previously forecast increase of 10% to 15%.