1. Performance Review 2010
Monhla Hlahla
21 October 2010

2. Table of Contents 1. Introduction 2. Strategic Deliverables
3. Service Quality Standards
4. Financial Highlights
5. Traffic Performance
6. Capital Expenditure
7. Revenue
8. Financial Statement Overview
9. Key Ratios
10. Economic Regulation
11. Outlook

3. Introduction
Infrastructure developments successfully delivered on time and forecast
Investment positioned ACSA for future demand and economic growth
Optimisation of investments key to extracting value for all stakeholders
Employee development - invaluable experience gained
Obtained the appropriate funding for the capital investment
Optimisation of capital structure
Global economic recovery, albeit uncertain
Positive traffic profile (excl. the FIFA World Cup)
Strong growth in commercial revenues
Softened capital markets – reduced interest costs and improved liquidity
Unfavourable economic regulatory outcome
Successful facilitation of the FIFA World Cup 2010 3

4. Strategic Deliverables
Seamless facilitation of the FIFA 2010 World Cup™
Ensure long term business sustainability
Permission Application
Economic regulatory policy review and direction
Optimisation of capital structure
Focus on airports operational efficiency
Baggage pilferage reduced
On-time performance improved – Airport Management Centre (AMC)
Optimising business excellence
BBBEE – R7.6 billion from total expenditure of R9.1 billion (11.5% to black women-owned businesses)
CSI – R11 million direct expenditure
Revenue efficiency
Employee development, succession planning and retention

5. Service Quality Standards (ASQ)
Target
Internationals
3,7
Nationals
3,6
Year under review

6. Annual Report and Budget Review
Priscillah Mabelane
21 October 2010

7. Financial Highlights – 2010
Passenger Traffic
2% decrease to 16,5 million
Revenue
12% increase to R 3,5 billion
Normalised EBITDA
6% increase to R 1,83 billion
Net Earnings (incl. profit on sale of asset)
Increased to R901 million
Capital Expenditure
R5,2 billion
Financials

8. Departing Passengers
-2%
-2%
-1% 1%
-12%
0,000
Financials

9. Aircraft Landings
-2%
-4%
-2% 3% 7%
0,000
Financials

10. Major capex spend over the investment cycle to date
Capital Expenditure
Major capex spend over the investment cycle to date
King Shaka Intl R6,6 billion
O.R. Tambo Intl. CTB - R2,3 billion
Cape Town Intl. CTB - R1,6 billion
Financials

11. Revenue
R’million
12%
17% 7%
Financials

12. Financial Statement Overview
2010
2009 %
Income Statement
R'm
Change
Revenue
3,531
3,166
EBITDA
2,673
1,744
EBITDA Margin (excl. disposal of asset)
52%
55%
Depreciation
(1,077)
(749)
EBIT
1,668
1,013
Net finance costs
(673)
(379)
Tax expense
(94)
(189)
Net earnings
901
444
Net earnings (excl Profit on disposal)
141
430
12%
53% 3%
30%
65%
78%
Check for consistency with the FD report. But looks okay.
50%
103%
30%
Financials

13. Financial Statement Overview
2010
2009 %
Balance Sheet
R'm
Change
Property, plant and equipment
23,268
18,694
Investment property
2,433
2,265
Other non-current assets
886
682
Current assets
1,303
1,957
Interest bearing borrowings
(16,010)
(11,948)
Other non-current liabilities
(981)
(865)
Current liabilities
(1,926)
(2,704)
Shareholders equity
(8,974)
(8,081)
24% 7%
30%
33%
34%
13%
29%
11%
Financials

14. Key Ratios % KEY RATIOS 2010 2009 Change FINANCIAL - ROCE 7% 4%%
KEY RATIOS
2010
2009
Change
FINANCIAL
- ROCE 7% 4%
- ROCE (exc disposal of assets) 3%
CREDIT
- EBITDA INTEREST COVER
1.9
1.8
- GEARING (Net debt/Capitalisation)
64%
58%
- NET DEBT/EBITDA
5.8
6.3 3% 1% 3%
12% 7%
Financials

15. Economic Regulation
Remuneration of investments only allowed when assets are brought into use
The investment cycle now concluded - thus included in recent tariff application
Convergence of tariff application and outcome
Review of the economic regulatory framework
Predictability & consistency of the economic regulatory model is key to a sustainable aviation industry 15
Financials

16. Outlook
Monhla Hlahla
21 October 2010

17. Outlook Business sustainability Business excellence
Economic Regulations
Sale of DIA
Business excellence
Efficient asset utilisation
Leveraging IT
Sustainable environment management systems and design
Leveraging of technical and operational experience gained to support other airports outside the ACSA network
Develop air traffic growth strategy
Continuous growth in socio-economic impact
Enterprise Development
Industrial Development
Sustainable Airport Communities
Outlook

18. Thank You
Outlook