Security interests connected with financing
Collateral security (in the form of pledges of shares and mortgages on land and buildings) is generally provided to secure financing granted to subsidiaries, and breaks down as follows:
| (in € millions) | Start date | End date | Amount |
|---|---|---|---|
| London Gatwick airport (United Kingdom) | London Gatwick airport (United Kingdom) Start date2011 |
London Gatwick airport (United Kingdom) End date2049 |
London Gatwick airport (United Kingdom) Amount 2,749 |
| Aerodom (Dominican Republic) | Aerodom (Dominican Republic) Start date2024 |
Aerodom (Dominican Republic) End date2034 |
Aerodom (Dominican Republic) Amount 586 |
| Arcour (France) | Arcour (France) Start date2008 |
Arcour (France) End date2047 |
Arcour (France) Amount 556 |
| OMA (Grupo Aeroportuario del Centro Norte – Mexico) | OMA (Grupo Aeroportuario del Centro Norte – Mexico) Start date2022 |
OMA (Grupo Aeroportuario del Centro Norte – Mexico) End date2030 |
OMA (Grupo Aeroportuario del Centro Norte – Mexico) Amount 411 |
| Arcos (France) | Arcos (France) Start date2018 |
Arcos (France) End date2045 |
Arcos (France) Amount 351 |
| Lima Expresa (Peru) | Lima Expresa (Peru) Start date2016 |
Lima Expresa (Peru) End date2037 |
Lima Expresa (Peru) Amount 349 |
| Belgrade airport (Serbia) | Belgrade airport (Serbia) Start date2018 |
Belgrade airport (Serbia) End date2035 |
Belgrade airport (Serbia) Amount 262 |
| ADL - Aéroports de Lyon (France) | ADL - Aéroports de Lyon (France) Start date2016 |
ADL - Aéroports de Lyon (France) End date2033 |
ADL - Aéroports de Lyon (France) Amount 192 |
| Concessionária dos Aeroportos da Amazônia (Brazil) | Concessionária dos Aeroportos da Amazônia (Brazil) Start date2022 |
Concessionária dos Aeroportos da Amazônia (Brazil) End date2046 |
Concessionária dos Aeroportos da Amazônia (Brazil) Amount 112 |
| Other concession companies | Other concession companies Start date
|
Other concession companies End date
|
Other concession companies Amount 420 |
| Total | TotalStart date | TotalEnd date | Total Amount 5,989 |
Other security interests related to the funding of concession projects have been granted in an amount of €912 million, the vast majority of which concern Lima Expresa in Peru and Northwest Parkway in Denver, in the US state of Colorado.
Contractual investment obligations
At 31 December 2024, the Group’s share of the investment undertakings made by these companies amounted to €445 million as opposed to €927 million at 31 December 2023. The decline in these commitments is mainly due to the suspension of the Rift Valley project in Kenya, partially offset by new commitments undertaken for Budapest airport in 2024.
Collateral security connected with financing
Collateral security has been granted in the form of pledges of shares in companies accounted for under the equity method.
The net carrying amount of the shares pledged at 31 December 2024 was €125 million (€34 million at 31 December 2023) and included shares in Olympia Odos (the company operating the toll motorway currently connecting Elefsina, Corinth and Patras in Greece) for €74 million, SMTPC (the holder of the concession for the Prado Carénage road tunnel in Marseille) for €26 million, and WVB East End Partners (the company holding the concession for the Ohio River Bridges – East End Crossing project in the United States) for €15 million.
In addition, €114 million of corporate guarantees were granted, including those granted by Cobra IS to the banks financing high-voltage line projects in Brazil for €70 million.
Funding commitments
The Group has made commitments to provide funding (capital and/or subordinated loans) to companies accounted for under the equity method. At 31 December 2024, those commitments amounted to €47 million (€54 million at 31 December 2023). They mainly concern the D4 motorway project in the Czech Republic (€26 million) and the B247 federal road project in Germany (€11 million).
