Highlights of the 2008 Profit & Loss Statement
| Financial Results | 2008 | 2007 | |
|---|---|---|---|
| Net Turnover | 364.7 | 335.1 | |
| Operating Expenses | (148.8) | (141.5) | |
| Amortisation & Depreciation | (72.2) | (72.6) | |
| Financial Expenses | (50.2) | (59.6) | |
| Subsidies received for borrowing costs | 56.0 | 64.4 | |
| Profit before Tax | 149.4 | 125.7 | |
| Income tax |
(32.1) | (31.7) | |
| Profit after Tax | 117.3 | 94.0 | |
2008 vs. 2007 Key Profitability Indicators
| Performane Indicators | 2008 | 2007 | change | in |
|---|---|---|---|---|
| Revenues & ADF/Pax ( € )1 | 25.5 | 24.2 | 5.8% | % |
| Revenues & ADF/FTE (000 € )2 | 557.8 | 527.8 | 5.7% | % |
| Revenues & ADF/Net Asset Value ( % )3 | 35.5% | 32.2% | 3.3 | pp |
| Operating Cost/Pax ( € ) | 9.0 | 8.6 | 5.6% | % |
| PBT margin ( % )4 | 35.5% | 31.5% | 4.0 | pp |
| ROCE ( % )5 | 15.0% | 13.3% | 1.7 | pp |
| AVA (million € )6 | 75.3 | 56.6 | ||
| 1 Net Turnover plus Subsidies / Passengers | ||||
| 2 Net Turnover plus Subsidies / Full Time Equivalents | ||||
| 3 Net Turnover plus Subsidies / Net Asset Value | ||||
| 4 Profit before Tax / Net turnover & Subsidies | ||||
| 5 Operating Profit before Interest & Tax (inclusive of Subsidies) / Capital Employed | ||||
| 6 AVA: Added Value on Assets =Net Operating Profit after Tax - cost of capital x Net Asset Value | ||||
