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Swissport: Investor Presentation

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143 views22 pages

Swissport: Investor Presentation

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mohammad.muzfer
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© © All Rights Reserved
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SWISSPORT

#1 GLOBAL GROUND
HANDLING AND CARGO
SERVICES PROVIDER
FEBRUARY 2018
DISCLAIMER
This presentation and the oral presentation of the information in this presentation (together, the This presentation is only addressed to and directed at persons in member states of the European
“Presentation”) is for exclusive use of the persons to whom it is addressed and their advisers. It Economic Area ("EEA") who are qualified investors within the meaning of Article 2(1)(e) of the
has been prepared and is being made available by Swissport International Ltd. (the “Company” Prospectus Directive (Directive 2003/71/EC) ("Qualified Investors"). In addition, in the United
and, together with its subsidiaries, the “Group”) to a number of recipients for the sole purpose of Kingdom, this presentation is addressed and directed only at, Qualified Investors who (i) are
providing information to assist them in deciding whether they wish to proceed with a further persons who have professional experience in matters relating to investments falling within Article
investigation of the Company and the Group. 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended (the "Order"), (ii) are persons who are high net worth entities falling within Article
THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR 49(2)(a) to (d) of the Order, or (iii) ate either persons to whom this presentation may otherwise
RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR lawfully be communicated (all such persons-together being referred to as "Relevant Persons").
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, This presentation must not be acted on or relied on (i) in the United Kingdom, by persons who are
AUSTRALIA OR JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS not Relevant Persons, and (ii) in any member state of the EEA other than the United Kingdom, by
UNLAWFUL. persons who are not Qualified Investors. Any investment or investment activity to which this
presentation relates is available only to Relevant Persons in the United Kingdom and Qualified
This presentation has not been prepared by, nor verified by, any of Credit Suisse AG, J.P. Investors in any member state of the EEA other than the United Kingdom, and will be engaged in
Morgan Securities plc or Barclays Bank PLC (together with their affiliates the “Banks”) only with such persons.
This Presentation is not intended to form the basis of any investment decision. It does not This Presentation is only intended for investment professionals, high net worth companies,
constitute an offer or invitation for the sale or purchase of, or investment in, the Group or any partnerships, associations or trusts and investment personnel of any of the foregoing, and any
company, business or interest comprised in the Group as described in this Presentation and other persons to whom it may be lawfully communicated. No other person should act or rely on it.
neither the Presentation nor its contents shall form the basis of any contract. This Presentation is Persons distributing this Presentation must satisfy themselves that it is lawful to do so.
confidential. Neither this Presentation nor its contents may be distributed, published, reproduced
or disclosed, in whole or in part, to any other person. The information in this Presentation has Recipients should inform themselves about, and observe any applicable legal or regulatory
been provided by the Group and has not been independently verified. This Presentation does not requirements in relation to, the distribution or possession of this Presentation. Neither the Banks,
purport to be comprehensive or to contain all the information that a recipient may need in order to the Group nor their respective directors, officers and agents accept any liability to any person in
evaluate the Group. No representation or warranty, express or implied, is given and, so far as is relation to the distribution or possession of the Presentation in any jurisdiction.
permitted by law and except in the case of fraud, no responsibility or liability is accepted by any This Presentation may contain specific forward-looking statements, e.g., statements including
person, with respect to the accuracy or completeness of the Presentation or its contents. In terms like “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or
particular, but without limitation, no representation or warranty is given as to the achievement or similar expressions. Such forward-looking statements are subject to known and unknown risks,
reasonableness of, and no reliance should be placed on, any projections, targets, estimates or uncertainties and other factors which may result in a substantial divergence between the actual
forecasts contained in this Presentation. In all cases, interested parties should conduct their own results, financial situation, development or performance of the Group and those explicitly or
investigation and analysis of the Group and the data contained in this Presentation. implicitly presumed in these statements. Against the background of these uncertainties, recipients
This Presentation is not a prospectus within the meaning of Article 652a of the Swiss Code of of the Presentation should not rely on forward-looking statements. The Company assumes no
Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange responsibility to update forward-looking statements or to adapt them to future events or
AG or a prospectus under any other applicable laws. The prospectus under which any future sale developments.
of securities may take place may differ in material respects from the Presentation, and no person The Presentation is based, in part, on certain assumptions and information obtained from industry
accepts any responsibility for such differences. publications, surveys and forecasts, as well as from internal sources of the Company. The use of
This presentation and the information contained herein is not intended for publication or such assumptions and information obtained from any third parties does not imply that it has been
distribution in, and does not constitute an offer of securities in, the United States (as defined in independently verified by the Company the Banks or any of their respective affiliates. The
Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), Canada, accuracy and completeness of such assumptions and information has been assumed for
Australia or Japan or any other jurisdiction where such distribution or offer is unlawful. Securities purposes of the Presentation. The Presentation has not been verified to the standards normally
may not be offered or sold within the United States without registration, except pursuant to an expected in connection with the preparation of a prospectus and is subject to verification,
exemption from, or in a transaction not subject to, the registration requirements of the Securities amendment, correction, completion and change without notice.
Act. The Company has not registered and does not intend to register any offering of securities In MiFID II professionals / ECPs-only / No PRIIPs KID - Manufacturer target market (MIFID II
the United States or to conduct a public offering of any securities in the United States. Subject to product governance) for any securities is expected to be eligible counterparties and professional
certain limited exceptions, neither this presentation nor any copy of it may be taken, transmitted clients only (all distribution channels). No PRIIPs key information document (KID) will be prepared
or distributed, directly or indirectly, into the United States, its territories or possessions. Any failure as no securities are intended to be made available to retail in EEA.
to comply with the foregoing restrictions may constitute a violation of U.S. securities laws.

Swissport International Ltd. · P.O. Box · 8058 Zurich-Airport · Switzerland


2
www.swissport.com
SWISSPORT AT A GLANCE

COMPANY SNAPSHOT GLOBAL PLATFORM EXTENDING TO EMERGING MARKETS2


#1 GLOBAL GROUND HANDLING
AND CARGO SERVICE PROVIDER4 Airports served Flight movements

Incorporated in 1996, headquartered 279 4.1m/year


in Zurich
Customers Cargo (tonnes)
Countries Employees
845
48 65,000 Contracts 4.7m/year
Swissport Swissport Adj. > 3,250 Passengers
Revenue EBITDA1 (departures)
Warehouses
€2.8bn €232m • To be acquired in 2018 133 c.250m/year
(LTM-Sept 2017) (LTM-Sept 2017) • 100% Australia / New Zealand
/ Ground handling

SERVICES OVERVIEW REVENUE BREAKDOWN


BY BUSINESS LINE3
Ground Handling Adjacent services Cargo
• Passenger & ramp services • Fueling • Freight handling Cargo 18%
• Baggage Services • Security • Mail and document handling
• Gate & Check-in • Lounge operations • Operations and management
• Station management • Maintenance • Trucking €2.8bn Ground
• Crew administration • Executive aviation • Warehousing Handling 82%
• De-icing • Aviation passenger transport • E-Freight services

Source: Company information; Roland Berger industry report


Notes: (1) Adj. EBITDA defined as operating profit before acquisition and integration costs, before depreciation, amortisation, restructuring an onerous contract charges, non-cash pension expenses and other long-term
employee benefits, unallocated other income and reporting adjustments, and excluding start-up losses (unaudited); (2) Operating figures as of 31 December 2017 excluding Aerocare; (3) LTM-Sep 2017 (unaudited), 3
excluding Aerocare (4) As measured by revenue and airports served according to Roland Berger industry report as of 2016 data
TWO DECADES OF SUCCESSFUL
GLOBAL EXPANSION

KEY PILLARS OF GROWTH


2004 2015 315
 Organic growth EMEA Groundstar
2006

 Large outsourcing projects Ground 2012


Services
Americas
 Selective bolt-on M&A
2005
 Greenfield developments APAC
2002 Korea
Cargo Service 2018
Successful extension of global # of stations
Center BV 2015
footprint into Emerging Markets,
while reinforcing position in 2016
developed markets 2013
101

2000 2005 2010 2015

KEY OPERATING FIGURES1


NUMBER OF STATIONS MARKET SHARE (%)2 NUMBER OF COUNTRIES NUMBER OF CUSTOMERS REVENUES (€BN)3

+101 c.2x +11 +300 >2x


279 2.8
12% 48 845
178 37
>500 1.3
5%

2010 Today 2010 Today 2010 Today 2010 Today 2010 Today

Source: Company information; Roland Berger industry report


Notes: (1) Operating figures as of 31 December 2017 unless otherwise stated, excluding Aerocare; (2) Assuming a total accessible market size of €20.8bn based on Roland Berger industry report as of 2016 data, including both
ground handling and cargo; (3) LTM-Sep 2017 (unaudited) 4
STRATEGIC RATIONALE FOR AEROCARE
ACQUISITION

1. #1 ground handler1 in fast-growing APAC market with high barriers to entry

2. Profitable with strong cash flow generation

3. Attractive contract portfolio across a strong station network

4. Sustainable cost advantage

5. Platform for growth in APAC with strong and proven management team

6. Opportunity to extend the Aerocare service offering and leverage Swissport’s best practices framework

Notes: (1) Aerocare company estimate


5
AEROCARE OVERVIEW

AEROCARE OVERVIEW AEROCARE


Airports served Flights
• Swissport has entered into an agreement to acquire Aerocare, the #1
independent ground handling operator in Australia and New Zealand1 from
36 c.161k/year
Archer Capital and Aerocare management Employees Passengers
• Includes subsidiaries Skycare, Carbridge and EasyCare
c.3,000 c.15m/year
• Headquartered in Brisbane and with c.3,000 staff, Aerocare provides the
following services:

• Customer service (process travel documents, assign boarding passes)

• Baggage and ramp handling

• Cleaning and other ancillary services

• Carbridge / passenger transportation services

• Present at 36 airport locations

• Comprehensive blue-chip customer base that has experienced impressive


growth in recent years

KEY CUSTOMERS

Source: Aerocare company information (public)


Notes: 1 Aerocare company estimate 6
SWISSPORT FORMULA CREATES A
SUSTAINABLE COMPETITIVE ADVANTAGE

Safe and UNDERPINNED BY


industry-leading
operations
across the
globe GLOBAL
IT SYSTEMS
1
Strong Market
customer competitive
relationships cost base
6 2

INNOVATION
LEADERSHIP

5 3 Pricing
discipline
Global reach
and risk
4 management

Full range of SOLID


mission-critical
services to maxi- OPERATIONAL
mise service STRUCTURE
density per
station

7
STRATEGIC PRIORITIES

1. Sustain leadership in
core markets 2. Market leadership in Middle
East and Asia Pacific
• Deliver operational excellence and implement standardised • Realise selected M&A or outsourcing opportunities in emerging
operating procedures (Swissport Formula) markets creating sustainable and profitable revenue streams
• Continue to optimise service offerings across stations • Plan to leverage on Aerocare leadership to further strengthen
• Leverage existing customer portfolio Swissport presence in APAC

• Continue to take advantage of growth opportunities in developed • Continue to take advantage of markets deregulation in MEA and
markets including M&A and outsourcing Asia

3. Improve infrastructure and


cost base across the globe 4. Value creation through
innovative offerings
• Further enhance IT infrastructure and rationalise existing • Create further innovative services and product solutions to
applications generate revenue for us and our customers

• Create shared service centres to optimise back-office activities • Use existing applications across the network such as centralised
load control, Flight Information System, WebRoster, etc
• Leverage procurement activities across regions
• Dedicated innovation team
• Optimise GSE management

8
KEY INVESTMENT HIGHLIGHTS

#1 Global ground handling and cargo services provider1 – scale results in competitive advantage
1.

Resilient market with structural underlying growth drivers


2.

Operational excellence in delivering mission-critical services, with industry-leading quality and


3. safety standards

Reputable and well-established global brand with long-standing and stable customer base
4.

Resilient and cash generative financial profile with potential for margin expansion
5.

Proven capability to drive multiple levers of growth


6.

Experienced management team with proven track-record and strong corporate culture of governance
7. and control

Notes: (1) As measured by revenue and airports served according to Roland Berger industry report as of 2016 data
9
1. #1 GLOBAL GROUND HANDLING
AND CARGO SERVICES PROVIDER
SCALE RESULTS IN COMPETITIVE ADVANTAGE

SWISSPORT IS THE CLEAR GLOBAL MARKET LEADER... …AND CONTINUES TO GAIN MARKET SHARE
BY REVENUES FY20161 (€BN) MARKET SHARE BY REVENUE (%)
~1.75x #1Ground handling +3x
#2 Cargo

2
+3x 12%
2.7

1.5 1.5 5%
3
1.1
2% 3
Swissport dnata Menzies WFS 2002 2010 2016

SWISSPORT MARKET POSITIONS4

Continents NORTH #3 EUROPE & #1 LATIN #1 AFRICA #1 ASIA-PACIFIC #1*


4+1* AMERICA MIDDLE EAST AMERICA

Countries Countries Countries Countries Countries Countries


48+2* 2 20 14 9 3+2*
Stations Stations Stations Stations Stations Stations
279+36* 58 101 65 47 8+36*
*Addition of Aerocare (subject to closing)

Source: Company information; Roland Berger industry report


Notes: (1) Swissport reported figures excluding Aerocare as of Dec 2016, dnata year-end as of March 2017, WFS and Menzies as of Dec 2016. Menzies proforma figures including ASIG as of 2015); (2) Assuming a total
ground handling and cargo accessible market size of €20.8bn based on Roland Berger industry overview report as of 2016 data, excluding Aerocare; (3) Company estimates; (4) Based on Roland Berger industry overview 10
report as of 2016 data and Aerocare company estimates
2. RESILIENT MARKET WITH STRUCTURAL
UNDERLYING GROWTH DRIVERS

STRONG MARKET TRENDS… …DRIVING CONTINUED GROWTH IN GROUND


AND CARGO HANDLING1…
• Increasing air travel demand and cargo volumes

• Growth in aircraft-in-service and number of airports €bn CAGR 16-21


CAGR CAGR
• Continued trend to outsource ground-handling globally 4.9%
12-16 16-21
CAGR 12-16
26.5
• Expanding addressable market due to liberalisation 5.2%

6.5 6.6% 5.8%


20.8
… WITH DOUBLING OF AIRCRAFTS EXPECTED BY 2036
Number of aircrafts in service (thousands) 17.0 4.9

3.8
4.8% 1.8% 2.7% 5.3% 4.3% 3.0% 4.2%

17.5 4.8% 4.6%


20
10.1
15.9
8.2 13.2
6.8 7.1
4.8 3.9 3.7
1.4 1.6 1.1 2 1.6
0.7

APAC NA Europe ME Latam CIS Africa 2012A 2016A 2021E


2016 2036 % CAGR 16-36
Ground handling Cargo handling

Source: Roland Berger industry report; Boeing – Current Market Outlook 2017-2036
Notes: (1) Accessible market
11
2. RESILIENT MARKET WITH STRUCTURAL
UNDERLYING GROWTH DRIVERS (CONT’D)

STABLE, RESILIENT VOLUMES PROVEN AND RESILIENT PASSENGER TRAFFIC AND AIR CARGO1

World GDP Air cargo volume Passenger (traffic)


GROUND HANDLING
825
Reduction in traffic first impacts load
factor and then size of aircraft, but 706
not turn-arounds

2007-2008
Airlines avoid cancelling routes to Financial crisis
preserve slots

Model driven by turn-arounds that 2001


375
showed low cyclicality 9/11
1997
Asian Crisis

1973-1978
Oil crisis
CARGO 2003
SARS
1990-1991
Growth in global movement of goods Gulf Crisis

E-commerce trend driving volumes

2016
1971

1977

1983

1989

1995

1999

2001

2003

2005

2007

2009

2011

2013

2015
CAGR 1971-2016 : 3.0% 4.4% 4.8%

Source: Roland Berger industry report, ICAO, Airbus, OAG, IMF


Notes: (1) Rebased to 100
12
3. OPERATIONAL EXCELLENCE IN DELIVERING
MISSION-CRITICAL SERVICES, WITH INDUSTRY-
LEADING QUALITY AND SAFETY STANDARDS
STANDARDISED AND OPTIMISED PROCESSES TO ENSURE CONSISTENT QUALITY AND RELIABILITY OF MISSION-CRITICAL
SERVICES DELIVERY BASED ON PROPRIETARY IT SYSTEMS

Swissport Formula
The way we work !
Performance Station Management Operational Safety Management
Standard Training
Management Processes / Tools Processes
Objective • KPI-driven • Standardization of key • Binding operations • Standard training • Continuously improving
performance culture station management manuals & SOPs program & global safety performance
processes and tools oversight

KPI-driven culture with Share verified tools Consistent service Standard training Standard Safety
Swissport focus on continuous and processes quality through proven program across all Management System
= improvement + between operations + operating standards + levels and stations + at all levels
Formula

Enabler Standardised IT environment (i.e., Strategy, IT Ops, Apps, Workplace etc.)

13
3. OPERATIONAL EXCELLENCE IN DELIVERING
MISSION-CRITICAL SERVICES, WITH INDUSTRY-
LEADING QUALITY AND SAFETY STANDARDS

FULL RANGE OF MISSION-CRITICAL SERVICES INDUSTRY-LEADING ON-TIME PERFORMANCE1

SERVICES
98%
Airport /
Core Extended core customer driven 96%

Scheduled
Carriers

Low-cost
Carriers

Charter
Airlines
75-80%
Freight
Airlines

Integrator
Airlines

Airports

Consumers
Airlines Industry Key competitors Swissport 2017 Avg

Source: Company information


Notes: (1) All ground handling, company estimates
14
3. OPERATIONAL EXCELLENCE IN DELIVERING
MISSION-CRITICAL SERVICES, WITH INDUSTRY-
LEADING QUALITY AND SAFETY STANDARDS (CONT’D)
RELENTLESS FOCUS ON CONTINUOUSLY OPTIMISING FLEXIBLE COST BASE
COST BASE

 Competitive remuneration

• Competitive rates to minimise turnover 3%


14%

 Staff productivity management to reduce idle time


Operating
• Real time technology-based rostering tools 15% expenses1
• Flight Information Systems
FY 2016A
 Standardized training 68%
• Fit for purpose standardized training programme

 Centralized monitoring of global labour KPIs


Personnel expenses
• Productivity measures and labour flexibility Goods and services purchased
Other operating expenses
 Global procurement
Depreciation and amortisation
• Centralised GSE and uniforms procurement

Source: Company information


Notes: (1) Excluding acquisition and integration costs
15
3. OPERATIONAL EXCELLENCE IN DELIVERING
MISSION-CRITICAL SERVICES, WITH INDUSTRY-
LEADING QUALITY AND SAFETY STANDARDS (CONT’D)

RIGOROUS PRICING PROCESS AND CONTROL

APPROACH TO CONTRACT PRICING RIGOROUS APPROVAL PROCESS

New contracts and renewals to meet


Detailed cost build-up tailored to  profitability and NPV/IRR thresholds as well
1. scope of services required as commercial targets

Global contract template for cost


2. analysis and operational viability
 Clear contract sign-off thresholds

Standardised margin threshold and All contracts approved by both local and
3. return hurdle analysis 
global group management

16
4. REPUTABLE AND WELL-ESTABLISHED
GLOBAL BRAND WITH LONG-STANDING
AND STABLE CUSTOMER BASE

LONG-STANDING AND STABLE CUSTOMER BASE… …UNDERPINNED BY INDUSTRY-LEADING KPIS1

Customer concentration
 845 customers
Other
38% Top 10 customers
29%

 3,250+ contracts

Top 10-50 customers


33%
 Negotiated on station-by-station basis

TOP CUSTOMERS  Industry-leading 98% on-time performance

 85% contract retention target rate

 >10 year relationship with top 10 customers

Source: Company information


Notes: (1) Excluding Aerocare
17
5. RESILIENT AND CASH GENERATIVE
FINANCIAL PROFILE WITH POTENTIAL FOR
MARGIN EXPANSION
SUSTAINED REVENUE GROWTH… … WITH POTENTIAL FOR MARGIN EXPANSION
Revenue
€m Ground handling Cargo handling CAGR
2.0%
2'6741 2'682 1 2'769
1
• Managing labour costs and understanding local
471 473 489 2.1%
cost base
2'205 2'211 2'282 2.0%

2015A 2016A Sep-LTM 2017


• Leveraging best practises across the globe with
…PROVEN TRACK RECORD OF MARGIN RESILIENCE… continuous efficiency improvement
€m Adj. EBITDA2
Adj. EBITDA margin • Disciplined and rigorous commercial governance
8.2% 8.1% 8.4% (pricing and margins)
232
218 218

218 218 232 • Focus on higher margin opportunities (Emerging


Markets) while consolidating in developed
2015A 2016A Sep-LTM 2017
markets
…STRONG CASH FLOW GENERATION…
€m Adj. FCF3 • Economics of scale for overhead reduction,
Cash conversion (%)
procurement, and scale / density per station
72.0%
74.4% 65.4% improvement
162 167
143
162 143 167

2015A 2016A Sep-LTM 2017

Source: Company information


Notes: All financials excluding Aerocare and on a reported currency basis; (1) Totals inclusive of eliminations; (2) Adj. EBITDA defined as operating profit before acquisition and integration costs, before depreciation,
amortisation, restructuring and onerous contract charges, non-cash pension expenses and other long-term employee benefits, unallocated other income and reporting adjustments, and excluding start-up losses 18
(unaudited); (3) Adj. FCF defined as Adj. EBITDA – Net capex, Cash conversion defined as Adj. FCF divided by Adj. EBITDA
6. PROVEN CAPABILITY TO DRIVE MULTIPLE
LEVERS OF GROWTH
BUILDING BLOCKS FOR GROWTH

Organic • Provide additional services to existing customers


growth
• Add new customers to existing stations
• Add new stations in existing markets
• Capex-light

Outsourcing / hub • Demonstrated ability to successfully onboard new outsourcing


management contracts
• Sophisticated hub management capabilities
• Strong underlying cost-cutting trend at airlines offers avenue for
substantial growth

M&A (bolt-on) • Disciplined approach, with clear criteria driving which opportunities
are ultimately selected for investment
• Already-developed markets mitigate start-up risk
• Focus on bolt-on M&A

Greenfield • Global network and development expertise facilitate entry into new
markets
• Assessment of regulatory framework, contract duration/certainty
and capex requirements are key to managing inherent development SAUDI OMAN GHANA
risks ARABIA

19
6. PROVEN CAPABILITY TO DRIVE MULTIPLE
LEVERS OF GROWTH

INVESTMENT INTO GROWTH OPPORTUNITIES DRIVEN BY PROFITABILITY AND RETURNS

MAPPING THE CONSOLIDATION OPPORTUNITIES KEY CRITERIA PROVEN M&A BOLT-ON AND
• Market attractiveness ACQUISITION STRATEGY
ATTRACTIVENESS OF MARKET
(BASED ON SWISSPORT ASSESSMENT) M&A OUTSOURCING • Competition
+
5.5
• Ability to gain market
leading position Structured bottom-up process to
5.0
• Labour position identify and maintain a large
• Country risk factors pipeline of opportunities

4.5
Select priority opportunities
FINANCIAL based on financial profile &
4.0
• Volume market attractiveness
• Pricing & profitability
3.5
• IRR & NPV Proven team with track-record of
executing a high volume of
-
transactions globally
3.0 ESTIMATED
(5) 0 5 10 15 20 25 30 35 40 EBITDA (€M)

Maintain flexibility for opportunistic


NUMBER OF OPPORTUNITIES IDENTIFIED acquisitions leveraging on
Swissport’s global scale

MATURE MARKETS GROWTH MARKETS

UK/IRE DACH EUROPE NA ASIA MEA LATAM Executable consolidation plan to


accelerate growth
9 5 22 15 32 53 16
20
7. EXPERIENCED MANAGEMENT TEAM WITH PROVEN
TRACK-RECORD AND STRONG CORPORATE
CULTURE OF GOVERNANCE AND CONTROL

X Professional experience

25 23 37 36

President & CEO CFO COO CCO


Eric Born Christian Göseke Joseph Phelan Nils Pries Knudsen
‒ Appointed President & CEO of Swissport ‒ Responsible for Finance, IT and ‒ Key reporting lines include SVP USA, ‒ Key reporting lines include Cargo
in April 2015, effective since 1st August Procurement Europe, DACH, LATAM, MEA, ASIA, Global Accounts & Commercial,
2015 ‒ Key reporting lines include Finance Canada, IK/IRE and Special Projects Marketing & Performance
Planning and Analysis, Treasury and Management and Contracts & Pricing
Group Taxation

22 19 29 18
Chief Legal Officer &
Company Secretary EVP UK/Ireland EVP HR EVP Asia Development
Johannes C. Spindler Luzius Wirth Andreas Hugener David Liu
‒ Responsible for Company Secretary, ‒ Responsible for UK and Ireland ‒ Key reporting lines include Global ‒ Responsible for Asia Development
Legal & Compliance, Risk & Insurance Learning & Development,
Management, ASA membership Compensation & Benefit, Labour
‒ Key reporting lines include Risk & Relations, Corporate HR and HR
Insurance Management and Senior Business Partner
Legal Counsels

More than 65,000 Swissport + 3,000 Aerocare employees

21
KEY INVESTMENT HIGHLIGHTS

#1 Global ground handling and cargo services provider1 – scale results in competitive advantage
1.

Resilient market with structural underlying growth drivers


2.

Operational excellence in delivering mission-critical services, with industry-leading quality and


3. safety standards

Reputable and well-established global brand with long-standing and stable customer base
4.

Resilient and cash generative financial profile with potential for margin expansion
5.

Proven capability to drive multiple levers of growth


6.

Experienced management team with proven track-record and strong corporate culture of governance
7. and control

Notes: (1) As measured by revenue and airports served according to Roland Berger industry report as of 2016 data
22

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