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0 1 . J oint A ddress by the C hairman and the C E O
3,000 exhibitors and 300,000 visitors, and hosted 15 exhibitions including events of international scale. Moreover, the Airport
Retail Park recorded over 3,500,000 visitors, continuing its successful performance.
Besides securing smooth operations and introducing new e-services and system upgrades within the fence, AIA’s information
technology&telecommunications’ team continued to pursue our external business of providing consulting and integrated services
to other airports in Greece and abroad.
AIA’s Internet site was enhanced, providing an improved, comprehensive and cohesive on-line information experience. Highlighting
our effort in this respect, www.aia.gr was awarded with Flightglobal.com’s “Webbies – Aviation Web Awards 2008”, in the
categories “Best Airport Website” and “Best Online Innovation”.
Financial Performance
AIA’s financial performance was positive for another year, proving AIA’s value as a pole of economic development even during
dire times. As previously mentioned, the solid revenue streams from both aeronautical and non-aeronautical activities, and the
reinforced cost control applied, were the key profitability contributors in 2009, further enhanced by extraordinary profits through
the release of impairment provisions recorded in previous years and the recognition of interest revenues based on the London
Court of International Arbitration (LCIA) Decision regarding Olympic Group debts. The operating revenues of the Company
increased by €92.8 million or 25.46% compared to the previous financial year, reaching the amount of €457.5 million. Operating
expenses decreased by €7.2 million or 4.9% compared with 2008, standing at €141.5 million. Earnings before interest, tax,
depreciation&amortisation (EBITDA) were increased in the year 2009 by €100.0 million or 46.4% compared to the previous year,
reaching the level of €315.9 million. The net financial expenses decreased by €18.2 million or 36.2% versus 2008. The company
recorded Profit before Tax of €264.5 million and a distribution of €168.0 million as dividend to its shareholders is proposed.
Corporate Responsibility
Serving its roles of a successful entrepreneur, an efficient airport manager, and a responsible provider of service, the Airport
Company continuously enhances its governance framework by developing and introducing policies and systems that boost
stakeholders’ confidence in AIA’s performance and prospects. In this framework, in 2009, we upgraded our Code of Business
Conduct and established a new Anti-Fraud Policy. Most importantly, within the framework of alignment of Corporate Responsibility
reporting with global best practice, AIA was ranked by the independent survey “Accountability Rating Greece” among the five
most accountable corporations for the third consecutive year.
For an operationally responsible airport company, governance is a term deeply associated with preparedness. In 2009, we
implemented a Business Continuity System in line with prevailing standards and industry best practice, allowing us to plan for
prompt and efficient recovery for a variety of failure scenarios across the organisation.
In 2009, we remained firm to our commitment for active engagement with the local and greater society. We continued our
regular cooperation with local stakeholders, undertook initiatives for local infrastructure development, and addressed effectively
educational, cultural and other social needs of the area. Implementing consistently an attractive art and culture programme, we
organised a series of events in cooperation with important Greek and International cultural foundations, such as the photographic
exhibition “Miro of Majorca”, and a special screen-projection on the occasion of the year of Biodiversity in cooperation with
the “Goulandris Natural History Museum”. Meanwhile, we consistently maintain a caring corporate profile by continuing our
ongoing contribution to needy children through the support to non-profit organizations such as UNICEF, SOS Villages, and
“The Smile of the Child”.
As part of our environmental responsibility, recognising the growing importance of climate change, we stepped up our relative
efforts in 2009, second year of implementation of our annual Climate Change Corporate Action Plan. In this context we continued
the protection programme for the Vravrona wetland with a clean-up operation involving 150 volunteers from AIA and the airport
community, we converted 25 more vehicles to liquefied petroleum gas, and we made remarkable progress in the recycling rate
(41%) that led to revising the long-term goal upwards from 40% to 50% by 2012. Last but not least, we undertook commitment
to participate in the Airport Carbon Accreditation voluntary programme, launched last year by ACI EUROPE. It is worth noting
that our company played a key role in the creation and design of the programme.
Aiming at lasting success, as a responsible employer, the company maintains a productive work environment, focusing on
development through continuous training, aiming to enhance skills and competencies. Our 32 employees that graduated
successfully from the “AIA-mBA–mini Business Administration Programme” is one of the year’s highlights, while the company’s
overall training target was largely exceeded.
3,000 exhibitors and 300,000 visitors, and hosted 15 exhibitions including events of international scale. Moreover, the Airport
Retail Park recorded over 3,500,000 visitors, continuing its successful performance.
Besides securing smooth operations and introducing new e-services and system upgrades within the fence, AIA’s information
technology&telecommunications’ team continued to pursue our external business of providing consulting and integrated services
to other airports in Greece and abroad.
AIA’s Internet site was enhanced, providing an improved, comprehensive and cohesive on-line information experience. Highlighting
our effort in this respect, www.aia.gr was awarded with Flightglobal.com’s “Webbies – Aviation Web Awards 2008”, in the
categories “Best Airport Website” and “Best Online Innovation”.
Financial Performance
AIA’s financial performance was positive for another year, proving AIA’s value as a pole of economic development even during
dire times. As previously mentioned, the solid revenue streams from both aeronautical and non-aeronautical activities, and the
reinforced cost control applied, were the key profitability contributors in 2009, further enhanced by extraordinary profits through
the release of impairment provisions recorded in previous years and the recognition of interest revenues based on the London
Court of International Arbitration (LCIA) Decision regarding Olympic Group debts. The operating revenues of the Company
increased by €92.8 million or 25.46% compared to the previous financial year, reaching the amount of €457.5 million. Operating
expenses decreased by €7.2 million or 4.9% compared with 2008, standing at €141.5 million. Earnings before interest, tax,
depreciation&amortisation (EBITDA) were increased in the year 2009 by €100.0 million or 46.4% compared to the previous year,
reaching the level of €315.9 million. The net financial expenses decreased by €18.2 million or 36.2% versus 2008. The company
recorded Profit before Tax of €264.5 million and a distribution of €168.0 million as dividend to its shareholders is proposed.
Corporate Responsibility
Serving its roles of a successful entrepreneur, an efficient airport manager, and a responsible provider of service, the Airport
Company continuously enhances its governance framework by developing and introducing policies and systems that boost
stakeholders’ confidence in AIA’s performance and prospects. In this framework, in 2009, we upgraded our Code of Business
Conduct and established a new Anti-Fraud Policy. Most importantly, within the framework of alignment of Corporate Responsibility
reporting with global best practice, AIA was ranked by the independent survey “Accountability Rating Greece” among the five
most accountable corporations for the third consecutive year.
For an operationally responsible airport company, governance is a term deeply associated with preparedness. In 2009, we
implemented a Business Continuity System in line with prevailing standards and industry best practice, allowing us to plan for
prompt and efficient recovery for a variety of failure scenarios across the organisation.
In 2009, we remained firm to our commitment for active engagement with the local and greater society. We continued our
regular cooperation with local stakeholders, undertook initiatives for local infrastructure development, and addressed effectively
educational, cultural and other social needs of the area. Implementing consistently an attractive art and culture programme, we
organised a series of events in cooperation with important Greek and International cultural foundations, such as the photographic
exhibition “Miro of Majorca”, and a special screen-projection on the occasion of the year of Biodiversity in cooperation with
the “Goulandris Natural History Museum”. Meanwhile, we consistently maintain a caring corporate profile by continuing our
ongoing contribution to needy children through the support to non-profit organizations such as UNICEF, SOS Villages, and
“The Smile of the Child”.
As part of our environmental responsibility, recognising the growing importance of climate change, we stepped up our relative
efforts in 2009, second year of implementation of our annual Climate Change Corporate Action Plan. In this context we continued
the protection programme for the Vravrona wetland with a clean-up operation involving 150 volunteers from AIA and the airport
community, we converted 25 more vehicles to liquefied petroleum gas, and we made remarkable progress in the recycling rate
(41%) that led to revising the long-term goal upwards from 40% to 50% by 2012. Last but not least, we undertook commitment
to participate in the Airport Carbon Accreditation voluntary programme, launched last year by ACI EUROPE. It is worth noting
that our company played a key role in the creation and design of the programme.
Aiming at lasting success, as a responsible employer, the company maintains a productive work environment, focusing on
development through continuous training, aiming to enhance skills and competencies. Our 32 employees that graduated
successfully from the “AIA-mBA–mini Business Administration Programme” is one of the year’s highlights, while the company’s
overall training target was largely exceeded.
