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aia.gr Annual Report 2016
to determine the level of provision such as the timing of the expenditure, the extension of the works and
the amount that it will be expensed in the future. The nominal value of the provision for restoration cost is
annually determined by a qualified department within the Company based on international experience and
the specific conditions relating to the operations of the airport. The amount of the provision is discounted
at balance sheet date by using the risk free rate for similar time duration.
4.2 Critical judgments in applying the entity’s accounting policies
There were no critical judgments necessary in applying the Company’s accounting policies.
5. Notes to the financial statements 2016 2015
5.1 Revenues 192,201,771 169,098,036
46,427,198 42,040,375
Analysis of revenues 26,470,998 26,028,893
60,487,019 48,824,459
Air activities 325,586,986 285,991,763
Airport charges
Centralized infrastructure & handling related revenues 48,516,722 48,036,191
Building and ground rentals & concessions 13,418,384 12,816,808
Other 13,571,562 12,843,885
Total air activity revenues 3,460,323
Non-air activities 78,966,992 11,617,797
Concession activities 85,314,681
Parking services 404,553,978
Building and ground rentals & concessions 371,306,444
Other
Total non-air activity revenues
Total revenues
Operating revenues were measured at the fair value of the consideration received or receivable, taking into
account the amount of any trade discounts or tax-volume rebates.
The fair value of the consideration received or receivable is equal to the invoiced amount, since the
Company doesn’t formally provide any deferred credit terms to its customers, in the form of interest-free
instalments or at below market interest rates.
The Company, in cases where it is likely, based on estimations, that the economic benefits related to
a transaction are not expected to flow to the entity, does not recognise the revenue of the specific
transaction.
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 2016 2015
Within one year 16,189,968 14,971,559
Between one and five years 59,055,379 54,397,280
More than five years 39,952,656
Total minimum lease payments 115,198,003 51,327,147
120,695,986
Concession fees earned for the year ended 31 December 2016 include turnover linked fees in excess of base
concession fees amounting to €8,720,116 (2015: €5,446,126).
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
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to determine the level of provision such as the timing of the expenditure, the extension of the works and
the amount that it will be expensed in the future. The nominal value of the provision for restoration cost is
annually determined by a qualified department within the Company based on international experience and
the specific conditions relating to the operations of the airport. The amount of the provision is discounted
at balance sheet date by using the risk free rate for similar time duration.
4.2 Critical judgments in applying the entity’s accounting policies
There were no critical judgments necessary in applying the Company’s accounting policies.
5. Notes to the financial statements 2016 2015
5.1 Revenues 192,201,771 169,098,036
46,427,198 42,040,375
Analysis of revenues 26,470,998 26,028,893
60,487,019 48,824,459
Air activities 325,586,986 285,991,763
Airport charges
Centralized infrastructure & handling related revenues 48,516,722 48,036,191
Building and ground rentals & concessions 13,418,384 12,816,808
Other 13,571,562 12,843,885
Total air activity revenues 3,460,323
Non-air activities 78,966,992 11,617,797
Concession activities 85,314,681
Parking services 404,553,978
Building and ground rentals & concessions 371,306,444
Other
Total non-air activity revenues
Total revenues
Operating revenues were measured at the fair value of the consideration received or receivable, taking into
account the amount of any trade discounts or tax-volume rebates.
The fair value of the consideration received or receivable is equal to the invoiced amount, since the
Company doesn’t formally provide any deferred credit terms to its customers, in the form of interest-free
instalments or at below market interest rates.
The Company, in cases where it is likely, based on estimations, that the economic benefits related to
a transaction are not expected to flow to the entity, does not recognise the revenue of the specific
transaction.
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 2016 2015
Within one year 16,189,968 14,971,559
Between one and five years 59,055,379 54,397,280
More than five years 39,952,656
Total minimum lease payments 115,198,003 51,327,147
120,695,986
Concession fees earned for the year ended 31 December 2016 include turnover linked fees in excess of base
concession fees amounting to €8,720,116 (2015: €5,446,126).
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
38 of 57
