daa Finance plc Statement

daa finance plc

EUR400,000,000 1.554 per cent guaranteed notes due 2028 of daa finance plc,
guaranteed by daa plc (ISIN:XS1419674525)

EUR500,000,000 1.601 per cent guaranteed notes due 2032 of daa finance plc,
guaranteed by daa plc (ISIN: XS2244415175)

COVID-19 – Trading Update

6 September 2021

While COVID-19 continues to have a material negative impact on daa plc and its subsidiary undertakings (the “Group”), the lifting of travel restrictions is having a positive impact on certain of the Group’s operations.

Passenger numbers

Passenger throughput at Dublin and Cork airports for the seven-month period to 31 July 2021 was approximately 1.8 million, down by approximately 91% compared to the same period in 2019. We have however seen some continuing improving trends in passenger throughput during the months of April through July 2021, including when compared with the same period in 2020 (see comparison table below):

While there has been an increase in passengers through Dublin and Cork airport since the lifting of the Government ban on non-essential travel on 19 July 2021, there continues to be uncertainty around future passenger numbers.

Certain of the Group’s international businesses also continue to be significantly impacted by the pandemic, which continues to have a negative effect on retail sales in some locations. The timing of recovery remains uncertain as restrictions are lifted at varying pace across the countries in which the Group operates.

Group Turnover, Operating Costs, Net Debt and Liquidity Update

Group turnover for the seven-month period to 31 July 2021 is down approximately 79% when compared to the same period in 2019, while Group operating costs, after taking into consideration government supports, are down by approximately 54% when compared to the same period in 2019.

Total Group net debt at 31 December 2020 was €783 million. By 31 July 2021, this had increased to approximately €940 million (after the incurrence of capital expenditure of approximately €111 million during the seven-month period to 31 July 2021).

Group liquidity at 31 July 2021 was approximately €1,047 million, comprising an undrawn €450 million syndicated revolving credit facility and cash of €597 million.

Enquiries: Catherine Gubbins, Group Chief Financial Officer, daa plc
Telephone number: +353 1 944 2205
catherine.gubbins@daa.ie