Airport Retailing - Europe - June 2008

Table of Contents

• Issues in the Market
• Key themes and issues
• Definition
• Financial definitions
• Currencies
• Abbreviations
• Insights
• Airport agents
• The kids are all flight
• How green is your airport?
• Market in Brief
• Air travel soars upwards
• Airports -- a strong retail market
• Economic clouds in the short term
• Airports -- new retail floorspace on the horizon
• A changing competitive landscape
• The power of airport operators
• What does the future hold?
• Internal Market Environment
• Key points
• Europe takes wing
  • Figure 1: European air traffic, 1990-2010 (f)
• Low-cost carriers (LCCs)
  • Figure 2: Low-cost carrier flights, H1 2006 and H1 2007
  • Figure 3: Top 25 low-cost carrier airports, July 2007
• European airports
  • Figure 4: Top 30 European airports by passenger volume, 2004 and 2007
  • Figure 5: Top 30 European airports, passenger volume growth, 2004-07
  • Figure 6: Major airports for travel beyond the EU, 2005
• Will Europe have enough airport capacity?
• Opening up the Skies
• A new generation of aircraft
• Where in the world?
  • Figure 7: Destinations of extra EU 25 passenger air transport, 2005
• European Airport Retail Market
• Key points
• Market size
  • Figure 8: European airport retail sales at current prices, 2003-07
• Relative growth
  • Figure 9: European airport retail sales compared to all retail sales, 2003-07
• Segment performance
• Duty-free
  • Figure 10: Europe duty-free market by segment, 2002-06
  • Figure 11: European duty-free market segments, 2002-06
  • Figure 12: Growth in European duty-free market segments, 2002-06
• Forecasts
• Duty-free
  • Figure 13: Global airport duty-free market, 2002-12
• Broader Market Environment
• Key points
• Four years of solid economic growth
  • Figure 14: European GDP and per capita GDP, 2003-09
  • Figure 15: European household expenditure and household expenditure per capita, 2003-09
• Retail sales have been on the up
  • Figure 16: European retail sales and retail sales per capita, 2003-07
• But confidence is now waning
• Figure 17: EU 27 economic sentiment index, May 2007-April 2008
• Europe is greying
  • Figure 18: Trends in the age structure of the EU 27 population, 2000-07
• Who' s Innovating?
• Key points
• The terminal wow! factor
• Showcasing products
• And now for something completely different...
• ...and not just shops
• Leading Airport Operators
• Key points
  • Figure 19: Leading European airport operators, total turnover, 2007
  • Figure 20: Leading European airport operators' commercial sales, 2007
  • Figure 21: Leading European airport operators' retail & catering sales, 2007
• Aeroporti di Roma
• Strategic evaluation
• Background
• Financial performance
• Figure 22: Aeroporti di Roma, financial performance, 2003-07
• Retail facilities
• Aéroports de Paris
• Strategic evaluation
• Background
• Financial performance
  • Figure 23: Aéroports de Paris, financial performance, 2004-07
  • Figure 24: Aéroports de Paris, retail & catering revenues, 2005-07
• ADP Retail
  • Figure 25: Aéroports de Paris, growth of retail and catering floorspace, 2006-10
• Aena
• Strategic evaluation
• Background
• Financial performance
• Figure 26: Aena: Financial performance, 2002-06
• Retail and catering revenue
  • Figure 27: Aena: Retail and catering revenue, 2006
• Retail facilities
• BAA
• Strategic evaluation
• Background
• Financial performance
  • Figure 28: BAA: Continuing operations financial performance, 2006-07
• Retail revenue by airport
  • Figure 29: BAA: Retail revenue by airport, 2007
  • Figure 30: BAA: Retail revenue by airport, 2007
• Commercial and retail revenue by store type
  • Figure 31: BAA: UK commercial revenue breakdown, by type, 2004/05-2007
• Retail facilities
  • Figure 32: BAA: UK airport retail space, March 2005 and March 2008
• Retail strategy
• Dublin Airport Authority Plc
• Strategic evaluation
• Background
• Financial performance
  • Figure 33: Dublin airport authority, financial performance, 2003-07
  • Figure 34: Dublin airport authority, domestic turnover breakdown by activity, 2003-07
• Retail facilities
  • Figure 35: DAA, shops and catering outlets by airport, June 2008
• Fraport Group
• Strategic evaluation
• Background
• Financial performance
  • Figure 36: Fraport Group, financial performance, 2003-07
• Retail facilities
  • Figure 37: Fraport Group, shopping space development, terminals 1 and 2, 2005-11
  • Figure 38: Frankfurt-hahn & Hanover airports, retail outlets, 2008
• Macquarie Airports (MAp)
  • Figure 39: Macquarie Airports, airport shareholdings as at June 2008
• Strategic evaluation
• Background
• Financial performance
  • Figure 40: MAp: European airports performance summary, 2007
• Brussels airport
  • Figure 41: Brussels Airport, performance statistics, 2003-07
• Copenhagen airport
  • Figure 42: Copenhagen Airport, performance statistics, 2003-07
• Bristol airport
  • Figure 43: Bristol Airport, performance statistics, 2003-07
• Manchester Airport Group
• Strategic evaluation
• Background
• Financial performance
  • Figure 44: Manchester Airport Group, financial performance, 2002/03-2006/07
• Relative airport size
  • Figure 45: Manchester Airport Group, share of passengers by airport, 2006/07
• Retail facilities
  • Figure 46: Manchester Airport Group, shops and catering outlets by airport, April 2008
• Schiphol Group
• Strategic evaluation
• Background
• Financial performance
  • Figure 47: Schiphol Group, financial performance, 2003-07
  • Figure 48: Schiphol Group, revenue breakdown by activity, 2007
• Consumers
  • Figure 49: Schiphol Group, consumers division breakdown of revenue, 2006-07
  • Figure 50: Schiphol, Concession income per international departing passenger, 2003-07
• Retail facilities
• Flughafen München GmbH (FMG)
• LFV Group (Sweden)
• Oslo Lufthaven AS (OSL)
• SEA Milan Airports
  • Figure 51: SEA Milan Airports, shops and catering outlets, June 2008
• Unique (Zurich Airport)
• Vienna International Airport
• Leading Airport Retailers
• Key points
  • Figure 52: Leading European airport retail specialists' total sales, 2007
  • Figure 53: Leading European airport retail specialists' European sales, 2007
  • Figure 54: Leading European airport retail specialists' European versus ROW sales, 2007
• Autogrill (Aldeasa/Alpha Airports Group/World Duty Free)
• Strategic evaluation
• Background
• Financial performance
  • Figure 55: Autogrill airport retail: Components' financial performance, 2005/06-2006/07
• Store portfolio
• Alpha retail
• World duty free
• Aldeasa
• Aelia (Lagardère Services)
• Strategic evaluation
• Background
• Financial performance
  • Figure 56: Aelia: Sales by activity, 2007
• Store portfolio
  • Figure 57: Aelia: European airport locations, 2008
• Products
  • Figure 58: Aelia: Sales by activity, 2004 and 2007
• Belgian Sky Shops
• Strategic evaluation
• Background
• Financial performance
• Store portfolio
• Dufry
• Strategic evaluation
• Background
• Financial performance
  • Figure 59: Dufry: Financial data, 2003-07
  • Figure 60: Dufry: Sales by region, 2007
  • Figure 61: Dufry: Sales by product category, 2007
• Store portfolio
  • Figure 62: Dufry: Worldwide distribution of stores, June 2008
  • Figure 63: Dufry: European airport locations, 2008
• Gebr. Heinemann
• Strategic evaluation
• Background
• Financial performance
• Store portfolio
  • Figure 64: Gebr. Heinemann: European airport locations, 2008
• Kappé International
• Strategic evaluation
• Background
• Financial performance
  • Figure 65: Kappé International: Financial performance, 2003-06
• Store portfolio
• The Nuance Group
• Strategic evaluation
• Background
• Financial performance
  • Figure 66: The Nuance Group: Financial performance, 2003-07
• Store portfolio
  • Figure 67: Nuance Group: European airport stores, 2008
  • Figure 68: Nuance Group: Sales by product category, 2007