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EarningsQ2 2026 Earnings Report
ARRPY Q2 2026 EPS Results
Actual EPS$0.37
Consensus EPS―
Beat/Miss―
One Year Ago EPS$0.11
ARRPY Q2 2026 Revenue Results
Actual Revenue$3.75B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+8.56%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeDuring Market Hours
Conference CallWednesday, July 29, 2026
ARRPY Upcoming Earnings
Aeroports de Paris's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
ARRPY Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong evidence of operational resilience and meaningful strategic progress: modest revenue growth (+1.6%), recurring EBITDA down only ~1%, a material one-off monetization gain (EUR 257 million) boosting net income, a clear path on the multi-year ERA with EUR 8.2 billion regulated investment and an identified productivity plan (~EUR 650 million). At the same time, management acknowledged significant near-term headwinds—soft demand related to geopolitical effects (notably AIG -15%), retail weakness, elevated net debt (EUR 9.1bn, 3.9x leverage) and remaining regulatory approval risk. Overall, positives around execution, balance-sheet de‑risking and regulatory milestone weigh heavier than the operational and timing challenges disclosed, but continued execution and regulatory sign-off remain critical to realize the upside.Company Guidance
Revenue Growth
Group revenue increased 1.6% year-on-year to EUR 3.2 billion in H1 2026, reflecting resilience of a diversified business model despite a more challenging operating environment.
Recurring EBITDA Resilience
Recurring EBITDA remained just above EUR 1.0 billion in H1 and declined only ~1% year-on-year, with management expecting full-year recurring EBITDA of EUR 2.30–2.35 billion after savings.
Significant Net Income uplift from GMR Monetization
Attributable net income reached EUR 312 million (more than 3x year-ago level), largely driven by a EUR 257 million gain from the partial monetization of GMR Airports.
Balance sheet deleveraging potential
Net debt was EUR 9.1 billion at end-June (leverage 3.9x recurring EBITDA). Management states that once the GMR transaction is fully completed net debt would fall by >EUR 1.3 billion and leverage would improve from 3.7x to ~3.1x EBITDA.
Targeted cost and efficiency program
Group deployed targeted cost measures expected to deliver EUR 40–60 million of savings in 2026 (majority in H2) and an ERA-embedded productivity commitment of ~EUR 650 million cumulative over eight years (~EUR 140 million annual saving target by 2034).
Operational and project delivery progress
Key investments and projects progressed: new baggage handling system commissioned at Terminal 2 (CDG), GMR added two airports, PS opened two new premium terminals; group keeps group CapEx guidance of ~EUR 1.45 billion for 2026.
Major regulatory milestone reached
Agreement with the French state on Economic Regulation Agreement (ERA) parameters for 2027–2034: EUR 8.2 billion regulated investment over eight years, tariff path capped on average at CPI +2.1 p.p., and a proposed regulated WACC/ROCE convergence target of 5.8% (ART-consistent range 5.1%–5.9%).
Traffic and commercial pockets of resilience
Paris traffic grew +0.5% in H1; international portfolio: TAV +1.2% and GMR +0.6% in H1. Extime spend per passenger was EUR 31 in H1 and SPP was broadly stable in Q2 with management targeting ~EUR 32 for the full year.
Dividend policy and strategic flexibility maintained
Management confirms 60% payout ratio with a flow of EUR 3 per share and emphasizes preservation of strategic flexibility and credit profile while executing the ERA investment program.
ARRPY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed