Company Profile Highlights of 2013 Airport Facts and Figures
KEY Facts
2013
Key facts 2013 at a glance
ATH
BUD
DUS
Athens International Airport Budapest Airport AviAlliance/ AviAlliance Capital – of this AviAlliance
> 40% 26.7%
– of this AviAlliance >13.3% Capital
AviAlliance / AviAlliance Capital – of this AviAlliance
2
49.67% 49.67%
– of this AviAlliance – Capital
Düsseldorf Airport AviAlliance / AviAlliance Capital – of this AviAlliance
30% 20%
– of this AviAlliance 10% Capital
Pax in millions
12.5
Pax in millions
8.5
Pax in millions
21.2
Aircraft movements
140,448
Aircraft movements
83,830
Aircraft movements
210,828
Sales revenues
EUR 311.8 million
Sales revenues
EUR 180.3 million 1
Sales revenues
EUR 371.9 million
– of this non-aviation 42% EBITDA
EUR 203.4 million
– of this non-aviation 33% EBITDA
EUR 126.2 million 1
HAM
TIA
Hamburg Airport
Tirana International Airport
AviAlliance/ AviAlliance Capital – of this AviAlliance
49% 34.8%
– of this AviAlliance 14.2% Capital
AviAlliance / AviAlliance Capital – of this AviAlliance
– of this AviAlliance – Capital Pax in millions
1.8
Aircraft movements
143,801
Aircraft movements
19,944
Sales revenues
EUR 254.5 million
Sales revenues
EUR 33.0 million
EUR 84.4 million
EUR 134.4 million
47%
13.5
EBITDA
EBITDA
47%
Pax in millions
– of this non-aviation 30%
– of this non-aviation 42%
– of this non-aviation n/a EBITDA
n/a
1 Without fuel supply
3
Foreword Dear Readers, For us, the highlight of last year was of course the sale of our company to PSP Investments. In September, the Canadian pension fund acquired HOCHTIEF AirPort with its entire team and all airport investments. The change of ownership was followed by a name change in October: HOCHTIEF AirPort became AviAlliance. The new name marks a new start; we will focus all our energy on strengthening and expanding our position as one of the world’s leading industrial airport investors and managers. There have also been some interesting developments at our airport holdings. For example, last year Düsseldorf Airport again registered a record number of passengers, welcoming 1.9 percent more than the year before. That is significantly higher than the growth of German airports as a whole, which on average noted only a 0.7 per cent increase in passenger numbers. Progress at Athens International Airport is also encouraging: In the fourth quarter of 2013 the airport, which has been affected by the difficult economic situation in Greece, was able to report rising passenger numbers. This positive trend con tinued during the first months of this year.
In the past year Budapest Airport was very successful with real estate development. As the first phase of the Airport Business Park development, a logistics base was completed for the Hungarian business units of two DHL companies: DHL Global Forwarding and DHL Freight. In 2013, the airport also handed over a new warehouse to Lufthansa Technik Budapest. To maintain the success story of our company and its airport holdings, we continue to rely on the outstanding commitment of our employees and the cooperative relationships with our partners and customers. We are convinced that the founda tion has been set for the further success of AviAlliance and we look forward to many exciting new projects! Cordially yours,
Holger Linkweiler Essen, September 2014
Gerhard Schroeder
Our Company
AviAlliance (formerly HOCHTIEF AirPort) is one of the world’s leading private industrial airport investors. It participates in privatizations, acquires concessions and provides consulting services. The company is distinguished by its combination of strategic airport management, made-to-measure project devel opment and comprehensive investment services. This puts it in a position to realistically assess the opportunities offered by the long-term deployment of large amounts of capital in this sector, manage the risks involved and successfully enhance asset value by means of a wellconsidered investment strategy.
4
5
Expertise
Portfolio
Airport management is becoming increasingly complex and this imposes great demands on operators. To meet these demands, competent support is frequently useful. At the same time, properly managed airports are profitable investment objects. In this promising market, AviAlliance – with its unique expertise – has already established a strong position for itself. Geared to long-term commitment, AviAlliance is a capable partner for public authorities and financial investors for privatization projects along the entire airport value chain.
Airports are attractive capital investments with stable yields. This makes privatizations and stakes in airports increasingly interesting for investors. At an early stage, AviAlliance recognized the opportunities offered by the aviation market, and systematically assembled a balanced portfolio of mutually complementary airport holdings. The company currently holds shares in the airports of Athens, Budapest, Düsseldorf and Hamburg, and operates Tirana International Airport. AviAlliance also supports PSP in managing its position in Sydney Airport, a listed entity on the Australian Securities Exchange, handling 38 million passengers in 2013.
AviAlliance was founded as HOCHTIEF AirPort in 1997, when international construction services group HOCHTIEF bundled all its airport management activities in a separate division. Since 2013, the company is a subsidiary of PSP Investments, Canada.
One key prerequisite for an airport’s business success is public acceptance in the region where it is located. That is one reason why AviAlliance focuses on responsible environmental management in order to make sparing use of natural resources in the development, expansion and operation of its airports. In all its projects, AviAlliance observes national and international standards and always seeks a dialog with local residents and partners.
Highlights of 2013
JANUARY
MARCH
The wastewater treatment plant at Tirana International Airport can hold 130 cubic meters of waste water.
All portfolio airports Airport Carbon accredited In January 2013, Tirana International Airport became the fifth airport in our portfolio to receive Airport Carbon Ac creditation. The airport is now certified at level one (Mapping) of the four-step program. Airport Carbon Accreditation, launched by Airports Council Interna tional (ACI) Europe in 2009, is the only institutionally endorsed carbon man agement certification standard specifically designed for airports. Tirana Inter national Airport is considered a pioneer in environmental protection in Albania: The airport has, for example, the coun try’s first wastewater treatment plant.
Simplified routing for transfer passengers: corridors connect the three terminals.
Düsseldorf Airport: Second transfer area now operational Opened in March, the new transfer area at Düsseldorf Airport between terminals A and B provides added convenience for transit passengers. They no longer need to leave the security area to reach flights in one of the other terminals. The transfer area linking terminals B and C was already completed in 2009. Investment costs for the two almost 300-meter long connecting passageways amounted to EUR 11.6 million.
6
APRIL Düsseldorf Airport named Best Regional Airport Europe In April 2013, Düsseldorf Airport won the Skytrax World Award in the cat egory “Best Regional Airport Europe”. The winner was selected on the basis of independent surveys in which more than twelve million passengers participated. The prize was presented at the Passenger Terminal Expo in Geneva, Switzerland. In addition, Düsseldorf Airport was among the top five airports worldwide in the category of 20 to 30 million passengers. For the first time, it was also among the top 30 of all globally rated airports.
7
Hamburg Airport honored For the second year in a row, Hamburg Airport received the renowned Airports Council International (AC I) Europe Award in the ten to 25 million passenger category. The airport was singled out, for example, for its strong emphasis on environmental measures and community relations. Hamburg Airport has been part of the AviAlliance network since July 2000.
May Athens International Airport honored Athens International Airport was named winner in the four to 20 million passen ger category at the Routes Europe 2013 conference in Budapest. The honor was bestowed in recognition of its continuous support of airline programs. This was the ninth time in succession that the airport has received this prestigious accolade for its outstanding marketing per formance.
June Budapest Airport constructed a engine testing enclosure to minimize the noise from aircraft engine tests.
Budapest Airport invests HUF 300 million in noise protection The construction of a state-of-the-art engine testing enclosure at Budapest Airport was completed in June. The facil ity will significantly reduce the noise load generated by the average 150 to 200 aircraft engine tests per year. The 12-meter high, 107-meter long structure was built of 550 special sound-damping panels.
July The runway head 05 of runway 05/23 was renewed.
Renewal of runway head at Hamburg Airport Renewal of runway head 05 of runway 05/23 was begun at Hamburg Airport on July 9. The airport invested a total of approximately EUR 5.6 million to renew the runway from the ground up. The work was completed two months later, ahead of the planned schedule.
8 HOCHTIEF AirPort is now AviAlliance Since October 2013 HOCHTIEF AirPort has operated under a new name: AviAlliance. The new name, made necessary by our departure from the HOCHTIEF Group, also marks a new start. The renaming is accompanied by an updated look. AviAlliance is now presented in a fresh green color. Our company changes hands HOCHTIEF AirPort has a new owner: On September 27 the Canadian investor Public Sector Pension Investment Board (PSP Investments) acquired the company and its shares in the airports of Athens, Budapest, Düsseldorf, Hamburg and Tirana. Holdings in Sydney Airport were already transferred to PSP in August. Company supports educational institutions near airports The acceptance of an airport in its immediate surroundings is essential for its success. To that end, our company has supported projects in the vicinity of its airports for some years. In September, for example, a new heating system was installed in a kindergarten in Vecsés, a neighboring municipality of Budapest Airport. Before that, students at a school near Athens International Airport were happily working with new whiteboards.
4th AviAlliance TAM Symposium in Braunschweig For the fourth year in a row AviAlliance invited aviation indus try experts to the Total Airport Management (TAM) Sympo sium. This event is a platform for interdisciplinary exchange. Its goal is to consolidate air traffic management to increase the efficiency of all processes at airports, airlines, in ground handling services and for air traffic managers.
September
October
Change of management at Hamburg Airport In November, Wolfgang Pollety took over the position of Managing Director at Flughafen Hamburg GmbH from Claus-Dieter Wehr. Pollety now guides the direction of the airport alongside of Chief Executive Officer Michael Eggenschwiler.
The new DHL facility has 42 docking stations and 48 loading and unloading doors.
In the middle of 2013 there was also a change in management at Tirana International Airport: Rolf Castro-Vasquez, longtime COO of the airport, succeeded Andrea Gebbeken as new CEO.
New DHL logistics base in Budapest opened At the end of October 2013, DHL’s new logistics facility was inaugurated at Budapest Airport. The facility, situated in the new Airport Business Park, accommodates two DHL subsidiaries. The complex provides 3,000 square meters of office space, 7,800 square meters of warehousing, 5,700 square meters of maneuvering space and jobs for 230 people.
9 AviAlliance analyzes parking at Hamburg Airport Renting parking spaces at airports has been more than a niche business for quite some time. Today it is an indis pensable revenue driver. On behalf of Hamburg Airport, AviAlliance identified medium and long-term demand for parking space at the airport, prepared a revenue forecast and developed various measures to create adequate ca pacity, especially in seasonal and peak periods.
At the end of 2013 approximately 10,000 parking spaces were available at Hamburg Airport.
November Tirana-based airline stops operations On November 26, 2013, the airline Belle Air – and shortly afterwards its subsidiary Belle Air Europe – ceased op erations due to financial problems. The two airlines had a combined market share of about 50 percent at Tirana International Airport. Thanks to good preparations and focused action by the airport operating company – sup ported by an AviAlliance task force – most of the Belle Air destinations were taken over by other airlines within days. Traffic recovered in December (yoy + 5.1 percent) and January (yoy +13.4 percent) and the impact on the airport was successfully limited.
December
With more than 21 million passengers, Düsseldorf Airport broke its own record in 2013.
Passenger record at Düsseldorf Airport On December 21, the 21 millionth passenger was welcomed at Düsseldorf Airport. In 2013, a total of 21.2 million passen gers used Germany’s third largest airport, an increase of 1.9 percent over 2012 and more than ever before. The de velopment was significantly higher than that of German airports as a whole, which only recorded an average growth in passenger numbers of 0.7 percent in 2013.
Airport facts and figures 2013
managing its position in Sydney Airport (Australia), a listed en tity on the Australian Securities Exchange, handling 38 million passengers in 2013.
As of the end of 2013, AviAlliance held stakes in five airports: Athens International Airport (Greece), Budapest Airport (Hungary), Düsseldorf Airport (Germany), Hamburg Airport (Germany) and Tirana International Airport (Albania). In the course of the year, these airports handled a total of 57.7 million passengers. AviAlliance also supports PSP in
ATH
Stakes Apportionment
Athens International Airport
10
The airports in Budapest, Düsseldorf and Tirana registered higher year-on-year figures, with Tirana International Airport
BUD Budapest Airport
DUS
Düsseldorf Airport
AviAlliance
AviAlliance
AviAlliance
AviAlliance Capital
Caisse de dépôt et placement du Québec
AviAlliance Capital
Malton1
City of Düsseldorf
Greek investor Greek state
Goldman Sachs Infrastructure Partners 2
Aer Rianta International cpt
KfW IPEX-Bank
FINANCIALS
2013
Sales revenues
2011
– Of this non-aviation in percent
338.8
43%
379.5
42%
218.2
Aircraft movements
Cargo in tons 4
249.1
2011
2013
2012
33%
180.3 3
2012
31%
168.6 3
2011
33%
171.4 3
42%
371.9
2012
42%
366.4
2011
41%
361.4
2013
in EUR Million
203.4
2012
Passengers in millions
2013
in EUR Million 2013
EBITDA
traffic Figures
2012
311.8
42%
12.5 12.9
2013
126.2 3
2012
96.2 3
2011
98.2 3
2013
8.5
2012
8.5
in EUR Million 2013
2012 2011
2013
134.4 125.8 141.8
21. 2
2012
20.8
2011
14.4
2011
8.9
2011
20.3
2013
140,448
2013
83,830
2013
210,828
2012
217,202
2011
221,672
2012 2011
2013
2012 2011
153,295 173,296 74,875 76,425 85,832
2012 2011
87,560 109,949
2013
2012 2011
1 A subsidiary of GIC 2 A group of infrastructure funds sponsored and managed by Goldman Sachs; the investment was effected via their shared subsidiary Aero Investment SARL
92,112 93,123 106,595
2013
115,024
2012
101,588
2011
97,250
3 Without fuel supply 4 Including trucking
11
growth in the fourth quarter of 2013. This positive trend con tinued during the first months of 2014. Hamburg Airport was negatively impacted by strikes of airline and public services employees, storms and route network reductions.
Tirana International Airport
Sydney Airport
AviAlliance also supports PSP in managing its position in Sydney Airport, a listed entity on the Australian Securities Exchange, han dling 38 million passengers in 2013.
AviAlliance
AviAlliance
AviAlliance Capital
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH
City of Hamburg
30%
254.5
2012
30%
251.5
2011
31%
253.3
2013
Albanian-American Enterprise Fund (A AEF)
2013
32.1
2011
33.9
in EUR Million 2013
2012 2011
2013
2012 2011
in EUR Million
84.4 83.7
13.5
2012
13.7
2011 2013
1.8
972.8
in AUD Million 910.3 848.0 789.8
2011
2013
1,039.7
51%
2012
100.6
1,114.6
51% 51%
2013
2013
37.9
2013
36.9
2012
1.7
13.6
2011
1.8
2011
35.6
143,801
2013
19,944
2013
326,228
2012
152,896
2011
158,096
2013
33.0
2012
65,866
2012
64,641
2011
67,885
2012
20,528
2011
22,988
2013
2012 2011
1,778 1,875 2,656
Stakes Apportionment
Hamburg Airport
SYD
FINANCIALS
HAM TIA
2012
321,630
2012
307,866
2011
806,000 5
2013
737,000 5
2012
702,000 5
2011 5 Landed tons of cargo aircraft
traffic Figures
actually increasing its passenger total by 5.5 percent. With 21.2 million passengers Düsseldorf Airport even set a new passenger record. In Athens and Hamburg, on the other hand, passenger volumes declined. The reasons for this varied. Athens International Airport continued to suffer under the difficult economic situation in Greece, but returned to
AviAlliance GmbH
Alfredstr. 236 45133 Essen Germany
Te l.: +49 201 824 -1249 Fax: +49 201 824 -1838 info@ avialliance.com www.avialliance.com
Imprint Publisher: AviAlliance GmbH, Communications Editorial responsibility: Donatella Gasser Project coordination: Anne Langensiepen Design: TILLNEUERVISUELLEKOMMUNIKATION www.tillneuer.de Photos and illustrations: AviAlliance/Christian Schlüter: Title, Pages 2, 3, 4, 5, 6 (top), back page; Budapest Airport/Mihály Hardy: Pages 7 (bottom left), 8 (bottom); Düsseldorf Airport/Andreas Wiese: Pages 6 (bottom right), 9 (bottom); Fotolia: Page 8 (top); Hamburg Airport/ Michael Penner: Pages 7 (top, bottom right), 9 (top); Tirana International Airport/Armand Habazaj: Page 6 (bottom left) Printed by: druckpartner, Druck- und Medienhaus GmbH Essen, Germany Status as of December 2013. Changes may have occurred in the interim. © 2014 AviAlliance GmbH
