Page 28 - Annual Report 2015 EN
P. 28
5
Our Business Units
The organisational structure of Athens International Airport (AIA) is designed around four Business
Units, namely Aviation, Consumers, Property and IT & Telecommunications, which have a combined
responsibility for operational excellence and business development. To further enhance this role,
a Value Based Management (VBM) methodology is applied, measuring the performance of the
Business Units against predefined targets on both financial and non-financial metrics and parameters
(e.g. systems’ efficiency, quality of services, safety of operations, environmental responsibility,
personnel safety, training, etc.).
AVA per Business Unit
The main metric that has been assets to the four Business Units and compared to 2014 (€99.7 million vs.
selected for measuring financial value are therefore able to measure financial €70.5 million). The primary driver of
creation by the four Business Units value creation of their individual this AVA improvement is the increase
is AVA (Added Value on Assets). business activities, also taking indirect of revenues due to the higher traffic
AVA measures the value created from expenses and asset-related costs into in 2015, partly offset by higher taxes.
operating revenues and expenses, consideration. The company’s successful efforts of
also taking assets and cost of capital increased effectiveness in operating
into account, since airports are largely Financial performance of each and capital expenses also had a
capital intensive business entities. We Business Unit in terms of AVA (Added positive contribution to the total AVA
have allocated all revenues, costs and Value on Assets) is presented below. In improvement.
2015 AVA was significantly increased
AVA per Business Unit AVA per Business Unit
€ million Variance € million 2015 2014
120 Aviation 47.9
28.4
70.5 19.5 5.7 3.8 0.1 99.7
44.6
100 38.8
Consumers 6.1
2.3
80
60
Property
40
20 IT&T
0 1.1
AIA AVA Aviation Consumers Property IT&T AIA AVA 0.9
2014 Variance Variance Variance Variance 2015
0 10 20 30 40 50
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 not related to regulatory Air-Non Air Acitivites segmentation
28 | aia.gr
Our Business Units
The organisational structure of Athens International Airport (AIA) is designed around four Business
Units, namely Aviation, Consumers, Property and IT & Telecommunications, which have a combined
responsibility for operational excellence and business development. To further enhance this role,
a Value Based Management (VBM) methodology is applied, measuring the performance of the
Business Units against predefined targets on both financial and non-financial metrics and parameters
(e.g. systems’ efficiency, quality of services, safety of operations, environmental responsibility,
personnel safety, training, etc.).
AVA per Business Unit
The main metric that has been assets to the four Business Units and compared to 2014 (€99.7 million vs.
selected for measuring financial value are therefore able to measure financial €70.5 million). The primary driver of
creation by the four Business Units value creation of their individual this AVA improvement is the increase
is AVA (Added Value on Assets). business activities, also taking indirect of revenues due to the higher traffic
AVA measures the value created from expenses and asset-related costs into in 2015, partly offset by higher taxes.
operating revenues and expenses, consideration. The company’s successful efforts of
also taking assets and cost of capital increased effectiveness in operating
into account, since airports are largely Financial performance of each and capital expenses also had a
capital intensive business entities. We Business Unit in terms of AVA (Added positive contribution to the total AVA
have allocated all revenues, costs and Value on Assets) is presented below. In improvement.
2015 AVA was significantly increased
AVA per Business Unit AVA per Business Unit
€ million Variance € million 2015 2014
120 Aviation 47.9
28.4
70.5 19.5 5.7 3.8 0.1 99.7
44.6
100 38.8
Consumers 6.1
2.3
80
60
Property
40
20 IT&T
0 1.1
AIA AVA Aviation Consumers Property IT&T AIA AVA 0.9
2014 Variance Variance Variance Variance 2015
0 10 20 30 40 50
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 not related to regulatory Air-Non Air Acitivites segmentation
28 | aia.gr
