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6. Our Business units
Since 005, the company has established four Business Units AVIATION BUSINESS UNIT
(Aviation, Consumers, Property and IT & Telecommunications)
with a clear set of business activities combined with operating The Aviation Business Unit ensures safe, orderly, and efficient
functions. The business activities are supported with a Value aerodrome operations, while offering high-quality services
Based Management (VBM) model, a modern management and facilities to aircraft operators.
methodology, which provides all the necessary tools to In 007, the Revenues from Airport Charges increased by
measure both financial and non-financial value creation 15.% versus last year reaching the amount of €170.8 million.
(e.g. quality of services, environmental responsibility, public Part of these revenues –for VBM purposes– is allocated to
image, personnel safety) across the different activities of Consumers and Property Business Units. The revenues
the company. from ground handling activities and airside concessions
The performance of each Business Unit is presented in Charts amounted to €4.9 million and are also controlled by the
6.1 and 6. below, in terms of AVA (Added Value on Assets), Aviation Unit. These revenue streams were increased in
the main metric that was selected for the measurement of 007 by 9%, in line with traffic growth.
financial value creation by the Business Units. AVA measures
not only the value created from operating revenues and
expenses, but also takes assets and cost of capital into account,
since airports are largely capital intensive businesses. Thus,
we have allocated all revenues, costs and assets to the four
Business Units and we are able to measure the financial value
creation of their business activities, taking also indirect costs
and assets into consideration. In 007, the total Company AVA
grew further, from €8.1 million in 006, to €67.7 million,
thanks to increased revenues and efficient asset utilisation.
Note: AVA = Net Operating Profit after Tax – Cost of Capital x Net Assets
Note: The segmentation of the Business Units is for VBM purposes only and AIA considers airport operations safety as a prerequisite of
not related to regulatory Air/Non-air Activities segmentation. high importance. Within this context, the airport company
continued its efforts to further enhance safety through
the Aviation Safety Management System (ASMS), which
was established in 006. As part of the ASMS’s further
development, more companies and organisations based
at the airport were audited and instructed accordingly to
integrate ASMS principles into their operations. In addition,
AIA encouraged the exchange of information and the
reporting of safety-related occurrences.
8
Since 005, the company has established four Business Units AVIATION BUSINESS UNIT
(Aviation, Consumers, Property and IT & Telecommunications)
with a clear set of business activities combined with operating The Aviation Business Unit ensures safe, orderly, and efficient
functions. The business activities are supported with a Value aerodrome operations, while offering high-quality services
Based Management (VBM) model, a modern management and facilities to aircraft operators.
methodology, which provides all the necessary tools to In 007, the Revenues from Airport Charges increased by
measure both financial and non-financial value creation 15.% versus last year reaching the amount of €170.8 million.
(e.g. quality of services, environmental responsibility, public Part of these revenues –for VBM purposes– is allocated to
image, personnel safety) across the different activities of Consumers and Property Business Units. The revenues
the company. from ground handling activities and airside concessions
The performance of each Business Unit is presented in Charts amounted to €4.9 million and are also controlled by the
6.1 and 6. below, in terms of AVA (Added Value on Assets), Aviation Unit. These revenue streams were increased in
the main metric that was selected for the measurement of 007 by 9%, in line with traffic growth.
financial value creation by the Business Units. AVA measures
not only the value created from operating revenues and
expenses, but also takes assets and cost of capital into account,
since airports are largely capital intensive businesses. Thus,
we have allocated all revenues, costs and assets to the four
Business Units and we are able to measure the financial value
creation of their business activities, taking also indirect costs
and assets into consideration. In 007, the total Company AVA
grew further, from €8.1 million in 006, to €67.7 million,
thanks to increased revenues and efficient asset utilisation.
Note: AVA = Net Operating Profit after Tax – Cost of Capital x Net Assets
Note: The segmentation of the Business Units is for VBM purposes only and AIA considers airport operations safety as a prerequisite of
not related to regulatory Air/Non-air Activities segmentation. high importance. Within this context, the airport company
continued its efforts to further enhance safety through
the Aviation Safety Management System (ASMS), which
was established in 006. As part of the ASMS’s further
development, more companies and organisations based
at the airport were audited and instructed accordingly to
integrate ASMS principles into their operations. In addition,
AIA encouraged the exchange of information and the
reporting of safety-related occurrences.
8
