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05. Our Business Units
AIA has an organisational structure designed around Chart 5.1
four Business Units (Aviation, Consumers, Property
and IT & Telecommunications), which have a combined AIA AVA 2011 vs. 2010
responsibility for operational excellence and business
development. The performance of all units is measured Note:
through an established Value Based Management (VBM) AVA = Net Operating Profit after Tax – Cost of Capital x Net Assets
methodology, which targets and measures achievements
on both financial and non-financial metrics and
parameters (e.g. systems efficiency, quality of services,
safety of operations, environmental responsibility,
personnel safety, etc.).
The financial performance of each Business Unit is
presented in Charts 5.1 and 5.2 below, in terms of AVA
(Added Value on Assets), the main metric that was
selected for the measurement of financial value creation
by the Business Units. AVA measures the value created
from operating revenues and expenses, taking also assets
and cost of capital into account, since airports are largely
capital intensive business entities. Thus, we have allocated
all revenues, costs and assets to the four Business Units
and are able to measure the financial value creation of
their individual business activities, taking also indirect
expenses and asset-related costs into consideration. In
2011 the AVA is improved vs. 2010 (€71.6 million vs. €60.8
million) as a result of lower total corporate tax and less
asset costs, partly offset by decreased revenues, which
resulted from the drop in 2011 traffic.
22 Annual report
AIA has an organisational structure designed around Chart 5.1
four Business Units (Aviation, Consumers, Property
and IT & Telecommunications), which have a combined AIA AVA 2011 vs. 2010
responsibility for operational excellence and business
development. The performance of all units is measured Note:
through an established Value Based Management (VBM) AVA = Net Operating Profit after Tax – Cost of Capital x Net Assets
methodology, which targets and measures achievements
on both financial and non-financial metrics and
parameters (e.g. systems efficiency, quality of services,
safety of operations, environmental responsibility,
personnel safety, etc.).
The financial performance of each Business Unit is
presented in Charts 5.1 and 5.2 below, in terms of AVA
(Added Value on Assets), the main metric that was
selected for the measurement of financial value creation
by the Business Units. AVA measures the value created
from operating revenues and expenses, taking also assets
and cost of capital into account, since airports are largely
capital intensive business entities. Thus, we have allocated
all revenues, costs and assets to the four Business Units
and are able to measure the financial value creation of
their individual business activities, taking also indirect
expenses and asset-related costs into consideration. In
2011 the AVA is improved vs. 2010 (€71.6 million vs. €60.8
million) as a result of lower total corporate tax and less
asset costs, partly offset by decreased revenues, which
resulted from the drop in 2011 traffic.
22 Annual report
