Overall, the 2012 results exceeded the annual
objectives established and, individually, only the
investment plan was not carried out, as seen in the
table below (for more details, see chapter 11 –
Investments).
These results were achieved within a particularly
difficult economic environment in Europe, where our
primary markets are located, as well as in Portugal,
where there was a strong contraction of the economy.
ANNUAL REPORT ‘12
STRATEGY
25
1
Proposal presented solely by ANA.
5.4_INTERNATIONALISATION STRATEGY
The internationalisation policy followed by ANA, S.A.
is related to the provision of aviation or non-aviation
services, based on the company’s vast and varied
multicultural experience in the markets where it
operates. The company is positioned at this level as
a mid-size airport player and focuses its sights on
the target markets of Portuguese-speaking African
countries, Brazil and Latin America.
Considering the current privatisation process and
even the definition of strategic objectives by the new
shareholder, the company has presented proposals for
providing services in international markets that exclude
financial commitments.
Over the course of 2012, ANA, S.A. made several
prospecting studies, followed up on projects in
progress, and presented bids on public tenders and
tenders by invitation, as detailed:
• Mozambique
Following the contacts signed with ADM – Admi-
nistração dos Aeroportos de Moçambique, EP, and
resorting to the usual information channels on
projects in launch phases, ANA, S.A. presented four
proposals for providing services related to:
- “Technical Assistance for the Improvement of
Internal Control and the Quality of the Financial
Statements.” This proposal was presented in
conjunction with Leadership Business Consulting;
- “Consultancy for Advisory Services to the Adminis-
tration of Maputo International Airport”
1
;
- “Completion of the Internal Audit of the airports of
Maputo, Beira and Nampula related to the Quality
Management System”
1
;
ROCE
8.3%
7.5%
111%
EBITDA margin
51.9%
51.1%
102%
Progression of passenger traffic
1.9%
0.9%
214%
Share of non-aviation revenue
35.5%
34.5%
103%
Productivity (WLU/Average number of workers)
27.0 thousand
26.1 thousand
103%
Level of compliance with Investment Plan
69%
100%
69%
Level of compliance with budgeted EBITDA performance
103%
100%
103%
Debt capacity (EBITDA/Financial expenses)
12.4
11.8
105%
Average time for paying suppliers (days)
40
51
122%
Completed (*)
Objective
Compliance
ANA, S.A.
(*) Indicators calculated without the application of IFRIC 12
