ANNUAL REPORT ‘12
AUDIT REPORTS AND OPINIONS
256
REPORT AND OPINION OF THE BOARD OF AUDITORS
ON THE MANAGEMENT REPORT AND ACCOUNTS FOR 2012
Shareholders,
In accordance with the mandate given to us and in
conformance with the directives of line g) of paragraph 1
of article 420 of the Commercial Companies Code, we
are responsible for preparing the Annual Report and
issuing our opinion about the Management Report, the
Statement of Financial Position, the Income Statement,
the Statement of Changes in Shareholder’s Equity,
the Cash Flow Statement and the respective Annexes,
in individual and consolidated terms, as well as about
the proposal of Allocation of Results, presented by
the Board of Directors of ANA – AEROPORTOS DE
PORTUGAL, S.A., with regard to the financial year ending
on 31 December 2012.
In carrying out its duties, the Board of Auditors met
with the Board of Directors of ANA, as well as with the
main managers, whenever justified, mainly with the
head of the Financial Department, to analyse the
evolution of the management and discuss the more
relevant subjects that resulted from the analyses that
were carried out.
Within the scope of the analyses and verifications
that were carried out, the Board of Auditors requested,
and obtained, documentation and clarifications about
several questions that arose during these analyses.
In conformance with the dispositions of paragraph 2
of article 420 of the Commercial Companies Code, the
Board of Auditors proposed the appointment of the
Statutory Auditor, responsible for verifying the accounts,
and held working meetings with the same, as well as
with PricewaterhouseCoopers, in their capacity as ANA’s
External Auditors. Within the scope of this interaction
with the auditors, the Board of Auditors requested, and
obtained, clarifications about diverse questions that
arose during the course of this process.
In the course of the process of closing the books for
the financial year, the Board of Auditors analysed
the Management Report, as well as other separate
and consolidated accounting statements presented by
the Board of Directors, having proceeded to carry out
verifications and obtain the clarifications that were
deemed to be necessary.
During the course of the year, one of the members of
the Board of Directors, Dr. Cristina Maria Torres Matela
Tavares, resigned her position, with effect from 30 April
2013. As a result, this report and opinion is only signed
by two members of the Board.
A significant factor influencing ANA’s reporting of
results for 2012 was the approval and signature of the
concession contract. This led to the application of
IFRIC 12 to the accounting process and, at a later date,
Vinci Concessions S.A.S. being given the go ahead to
purchase ANA’s share capital in its entirety.
As the application of IFRIC 12 to the accounts in 2012
has no directly comparable application from 2011, this
opinion does not include the application of this IFRIC.
The Board of Directors’ Management Report highlights
the key aspects of ANA’s business activities in 2012.
Turnover for the year was 428,745 thousand euros,
1% up on the previous year. A total of 30,515 million
passengers were served and there were 280,000
aircraft movements.
The Group’s EBITDA stood at 203,319 thousand euros,
a slight fall of 0.7% over the previous year. Net profits,
at 82,368 thousand euros, grew by 7.6% over 2011.
ANA, SA, had a turnover of 358,256 thousand euros,
1.8% higher than in the previous year. Operating income
was 367,640 thousand euros, which is equivalent to
0.8% growth over 2011.
Operating profits were 113,188 thousand euros,
practically the same as 2011, while operating costs
grew by 1.2%. These cost increases were mainly felt
in the area of external supplies and services, up 3.6%,
as a result of the extraordinary expenditures on the
construction work carried out at Faro airport following
the extreme weather event of October 2011.
ANA, S.A. had an EBITDA of 185,766 thousand euros,
a fall of 0.2% over the previous year. Its net profits
came in at 87,708 thousand euros, 230.7% higher
than the previous year. This is explained by the impair
