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FINANCIAL STATEMENTS
Rental revenue from leased property is recognized in the income statement on a straight-line basis over the term of the
lease agreement.
As at the balance sheet date the Company has contracted with tenants for the following minimum non-cancellable
operating lease payments:
Analysis of minimum lease payments 2009 2008
Within one year 25.432.786 18.898.224
Between one and five years 87.308.145 62.014.314
More than five years 153.056.096 103.302.757
Total minimum lease payments 265.797.027 184.215.295
c) Concession agreements
The Company’s business area has a total of 68 concession contracts, at the balance sheet date, concerning the performance
of various commercial activities at the airport.
A concession involves granting of rights to a concession holder to operate and manage a commercial activity in a specific
location designated by the Company. The concession rights are calculated according to an agreed scale as a percentage
of the sales generated by the concession holder subject to an annual minimum guaranteed fee. A separate part of the
concession contract is entered into for the space required for warehouses, for which a fixed rent is payable.
Concession revenues are recognised in the income statement on a monthly basis, while the settlement of the annual
concession fees is finally recognised by the Company in the income statement, at year-end.
Concession fees earned for the year ended 31 December 2009 include over the contractual secured revenues amounting
to €4.515.818 (2008: €6.413.631).
d) IT&T charges
IT&T services are offered to the Airport Community (airlines, handlers, passengers, concessionaires, governmental authorities
etc) as well as to customers in Greece and/or abroad, for consulting and integrated IT&T services provided to private and
public bodies.
The Company offers a complete range of telecommunications & information technology services through the operation
and management of a Private Corporate Network. Service level agreements are established with the potential customers
in order to safeguard the quality and the continuous provision of the services.
The offered service portfolio includes the provision of telecommunication products and services such as leased lines, voice,
TETRA, Wide Area Network and Virtual Private Network services. At the same time the Company provides Wireless & Fixed
Internet services. The Company is the single point of reference for the offered services to Airport Community.
IT&T revenues are recognised in the income statement at the time of completion of each service rendered. Sales of equipment
are recognised in the income statement when the significant risks and rewards have been transferred to the buyer.
Operating revenues are analysed between air and non-air activities as follows:
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 40 OF 69
Rental revenue from leased property is recognized in the income statement on a straight-line basis over the term of the
lease agreement.
As at the balance sheet date the Company has contracted with tenants for the following minimum non-cancellable
operating lease payments:
Analysis of minimum lease payments 2009 2008
Within one year 25.432.786 18.898.224
Between one and five years 87.308.145 62.014.314
More than five years 153.056.096 103.302.757
Total minimum lease payments 265.797.027 184.215.295
c) Concession agreements
The Company’s business area has a total of 68 concession contracts, at the balance sheet date, concerning the performance
of various commercial activities at the airport.
A concession involves granting of rights to a concession holder to operate and manage a commercial activity in a specific
location designated by the Company. The concession rights are calculated according to an agreed scale as a percentage
of the sales generated by the concession holder subject to an annual minimum guaranteed fee. A separate part of the
concession contract is entered into for the space required for warehouses, for which a fixed rent is payable.
Concession revenues are recognised in the income statement on a monthly basis, while the settlement of the annual
concession fees is finally recognised by the Company in the income statement, at year-end.
Concession fees earned for the year ended 31 December 2009 include over the contractual secured revenues amounting
to €4.515.818 (2008: €6.413.631).
d) IT&T charges
IT&T services are offered to the Airport Community (airlines, handlers, passengers, concessionaires, governmental authorities
etc) as well as to customers in Greece and/or abroad, for consulting and integrated IT&T services provided to private and
public bodies.
The Company offers a complete range of telecommunications & information technology services through the operation
and management of a Private Corporate Network. Service level agreements are established with the potential customers
in order to safeguard the quality and the continuous provision of the services.
The offered service portfolio includes the provision of telecommunication products and services such as leased lines, voice,
TETRA, Wide Area Network and Virtual Private Network services. At the same time the Company provides Wireless & Fixed
Internet services. The Company is the single point of reference for the offered services to Airport Community.
IT&T revenues are recognised in the income statement at the time of completion of each service rendered. Sales of equipment
are recognised in the income statement when the significant risks and rewards have been transferred to the buyer.
Operating revenues are analysed between air and non-air activities as follows:
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 40 OF 69
