La Défense, 12 October 2021
End of the operations of the car parks in La Défense business district
Following the public tender issued by Paris La Défense, Indigo Group did not renew the concession contract for the operations of the car parks in La Défense business district in the Greater Paris area which have been managed by the subsidiary Sépadef In 2020, this contract contributed + 34 million euros to the IFRS Indigo Group's consolidated revenue (+ 36 million euros in 2019), - 2 million euros to its EBITDA minus fixed royalties accounted for under IFRIC 12 treatment (+ 3 million euros in 2019) and - 6 million euros to its net income euros (- 1 million euros in 2019) . The impact of the non-renewal of this contract on the Group's future financial leverage will not be significant due to the associated IFRS debt.
Since the beginning of the Covid-19, the use of home working and remote meetings strongly impacted the revenue of the car parks of the largest European business district and it has remained significant contrary to most of the other car parks operated by the Group, which have experienced a clear recovery as soon as the mobility restrictions were lifted. Therefore, in its response to the call for tenders, the Group had chosen to remain prudent in the hourly traffic recovery mostly generated by the demand coming from offices.
Sépadef will keep operating the car parks of La Défense business district until the end of the year 2021 as stated in the current contract.
|Analysts / Investors contact:||Press contact:|
|Noe Poyet||Benjamin Voron|
|[email protected]||[email protected]|
About reported financial figures
To make its performance easier to understand and to improve its presentation, the Group presents operational figures (revenue, EBITDA, operating income) on a “Global Proportionate” (GP) basis, including the Group's share of joint ventures (mainly in the USA, Colombia, and Smovengo in France) as if they were consolidated proportionately and not under the equity method applied in accordance with IFRS when preparing the consolidated financial statements.
For more information on published financial and operational data, you can click on the following link: https://www.group-indigo.com/en/information-data/
About Indigo Group S.A.
Indigo Group, holding about 100% of Indigo Infra, OPnGO and INDIGO®weel, is a key global player in car parking and urban mobility, that manages more than 2.3 million parking spaces and related services in 11 different countries.
Indigo Group is indirectly held at approximately 47.5% by Crédit Agricole Assurances, 33.2% by Vauban Infrastructure Partners, 14.4% by MEAG, 0.5% in treasury shares and the remaining by the management.
The information in this document has been included in good faith but is for general informational purposes only. All reasonable care has been taken to ensure that the information contained herein is not untrue or misleading. It should not be relied on for any specific purpose and no representation or warranty is given with regards to its accuracy or completeness. It should be read together with the information on Indigo Group S.A. (the “Company”) published on its website at www.group-indigo.com
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This document may contain forward-looking objectives and statements about the Company's financial situation, operating results, business activities and expansion strategy. Although based on reasonable assumptions, those objectives and statements are subject to numerous risks and uncertainties, including matters not yet known or not currently considered material by the Company, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. All forward-looking statements are management's present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The information is valid only at the time of writing and the Company does not assume any obligation to update or revise the objectives on the basis of new information or future or other events, subject to applicable regulations. Additional information on the factors and risks that could have an impact on the Company's financial results is contained in the documents filed by the Company with the French securities regulator (AMF) and available on its website at www.group-indigo.com.
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