Page 27 - exofilo_gr
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CORPORAT E
RE S P ONS I BI L I T Y
REPORT 201 2
We focus on working together with our business were lower by 7.4% compared to the prior year. It should
partners and stakeholders to improve the airport’s be stressed, though, that targeted cost efficiency was
sustainability performance. Annual action plan for achieved not at the expense of the airport’s quality and
each airport business area are implemented following service standards.
management approval and taking into consideration
past performance, stakeholder intersts, long-term 4.2 Aviation Market Overview
business objectives, our contribution to corporate
objectives and any anticipated changes on legislation The adverse macroeconomic and aviation industry
and aviation regulations. environment in Europe, and most importantly the
country’s critical situation were the main determining
4.1 Financial Performance factors of the aviation market’s evolution in the course of
2012 and it affected both the airline offer as well as the
The severely unfavourable macroeconomic conditions travelling demand. With the Greek GDP and the private
that continued in the course of 2012 had an impact on consumption considerably contracting, the Greeks
the aviation market. The demand for air travelling has propensity to travel was severely impacted, while at the
deteriorated significantly affecting the airline offer. same time foreign visitors were significantly reduced as
a result of the tarnished image of Athens and Greece
AIA’s efforts were directed towards both protecting abroad, combined with the slow-down in European
traffic volumes and revenue streams as well as economies. On the supply side, both Greek and foreign
providing savings on the cost side. Therefore, despite carriers proceeded with extensive capacity cuts in order
the adverse conditions, namely, significant traffic loss to effectively accommodate the falling demand. As a
and contraction in all business activities, AIA continued result, Athens International Airport’s traffic for the year
to record healthy profits for 2012 as well as to maintain 2012 amounted to 153 thousand flights and 12.94 million
profit margins above the average airport industry. passengers, presenting a decline vs. the corresponding
prior-year levels of -11.5% and -10.4% respectively. Both in
As regards revenues, aeronautical income (including terms of aircraft movements and passenger throughput,
AIA’s share from the Airport Development Fund-ADF) the international sector was the one suffering the most.
contribute the most to business with around 57% of
total income. Revenue from airport charges recorded a Chart 4.2
decrease of 14.9%, reflecting traffic decline in terms of Quarterly Passenger Traffic Development 2012
passengers and aircraft movements of 10.4% and 11.5%
respectively. For a fourth consecutive year all airport % Growth 2012/2011 0.0% -7.9% -8.3% -6.1%
charges remained unchanged, without any inflationary -2.0% -7.1%
adjustments. AIA’s share from the ADF presented a -4.0%
decrease of 11.0% compared to prior year, in line with -6.0% -7.6%
passengers’ drop. -8.0%
-10.0% -8.9%
Revenues from non-aeronautical segments performed -12.0%
overall lower than the previous year by 6.2%. Revenues -14.0% -10.4%
from ground handling and airside concessions -16.0%
decreased by 13.4%, reflecting the unfavourable -11.1% -12.4% -11.1%
traffic development in terms of aircraft movements -13.0%
and passengers. Revenues from commercial activities
dropped by 10.9%, compared to 2011, impacted by -14.4%
traffic drop, reduced spending per passenger and
unfavourable market trends. Property and real estate Q1 Q2 Q3 Q4
revenues showed an increase of 12.7% attributed
mainly to the full year operation of the Photovoltaic Domestic
Park of 8 MWp that started operations in mid July 2011. International
Finally, IT&T revenues decreased by 4.5%, showing Total
resilience compared to passenger traffic drop due to
higher income from external projects. Focusing on the evolution of passenger traffic
throughout the year, it is important to pinpoint that
In relation to cost, reduction actions continued in 2012. after a deterioration in passenger demand in the second
More in particular, total operating expenses for 2012 quarter, which was mainly due to the social and political
unrest amidst the Greek elections period, the last two
27
RE S P ONS I BI L I T Y
REPORT 201 2
We focus on working together with our business were lower by 7.4% compared to the prior year. It should
partners and stakeholders to improve the airport’s be stressed, though, that targeted cost efficiency was
sustainability performance. Annual action plan for achieved not at the expense of the airport’s quality and
each airport business area are implemented following service standards.
management approval and taking into consideration
past performance, stakeholder intersts, long-term 4.2 Aviation Market Overview
business objectives, our contribution to corporate
objectives and any anticipated changes on legislation The adverse macroeconomic and aviation industry
and aviation regulations. environment in Europe, and most importantly the
country’s critical situation were the main determining
4.1 Financial Performance factors of the aviation market’s evolution in the course of
2012 and it affected both the airline offer as well as the
The severely unfavourable macroeconomic conditions travelling demand. With the Greek GDP and the private
that continued in the course of 2012 had an impact on consumption considerably contracting, the Greeks
the aviation market. The demand for air travelling has propensity to travel was severely impacted, while at the
deteriorated significantly affecting the airline offer. same time foreign visitors were significantly reduced as
a result of the tarnished image of Athens and Greece
AIA’s efforts were directed towards both protecting abroad, combined with the slow-down in European
traffic volumes and revenue streams as well as economies. On the supply side, both Greek and foreign
providing savings on the cost side. Therefore, despite carriers proceeded with extensive capacity cuts in order
the adverse conditions, namely, significant traffic loss to effectively accommodate the falling demand. As a
and contraction in all business activities, AIA continued result, Athens International Airport’s traffic for the year
to record healthy profits for 2012 as well as to maintain 2012 amounted to 153 thousand flights and 12.94 million
profit margins above the average airport industry. passengers, presenting a decline vs. the corresponding
prior-year levels of -11.5% and -10.4% respectively. Both in
As regards revenues, aeronautical income (including terms of aircraft movements and passenger throughput,
AIA’s share from the Airport Development Fund-ADF) the international sector was the one suffering the most.
contribute the most to business with around 57% of
total income. Revenue from airport charges recorded a Chart 4.2
decrease of 14.9%, reflecting traffic decline in terms of Quarterly Passenger Traffic Development 2012
passengers and aircraft movements of 10.4% and 11.5%
respectively. For a fourth consecutive year all airport % Growth 2012/2011 0.0% -7.9% -8.3% -6.1%
charges remained unchanged, without any inflationary -2.0% -7.1%
adjustments. AIA’s share from the ADF presented a -4.0%
decrease of 11.0% compared to prior year, in line with -6.0% -7.6%
passengers’ drop. -8.0%
-10.0% -8.9%
Revenues from non-aeronautical segments performed -12.0%
overall lower than the previous year by 6.2%. Revenues -14.0% -10.4%
from ground handling and airside concessions -16.0%
decreased by 13.4%, reflecting the unfavourable -11.1% -12.4% -11.1%
traffic development in terms of aircraft movements -13.0%
and passengers. Revenues from commercial activities
dropped by 10.9%, compared to 2011, impacted by -14.4%
traffic drop, reduced spending per passenger and
unfavourable market trends. Property and real estate Q1 Q2 Q3 Q4
revenues showed an increase of 12.7% attributed
mainly to the full year operation of the Photovoltaic Domestic
Park of 8 MWp that started operations in mid July 2011. International
Finally, IT&T revenues decreased by 4.5%, showing Total
resilience compared to passenger traffic drop due to
higher income from external projects. Focusing on the evolution of passenger traffic
throughout the year, it is important to pinpoint that
In relation to cost, reduction actions continued in 2012. after a deterioration in passenger demand in the second
More in particular, total operating expenses for 2012 quarter, which was mainly due to the social and political
unrest amidst the Greek elections period, the last two
27
