Annual Report 2010 in PDF - BBA Aviation

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Industry Acronyms Aircraft On Ground AOG Auxiliary Power Unit APU Business & General Aviation B&GA Civil Aviation Authority CAA Component Repair & Overhaul CRO Engine Repair & Overhaul ERO Federal Aviation Administration FAA Fixed Based Operation FBO Ground Power Unit GPU Ground Support Equipment GSE Maintenance Repair & Overhaul MRO Original Equipment Manufacturer OEM Recordable Incident Rate RIR Regional Turbine Centre RTC
Directors’ Report 2 Overview 2 Group Structure 3 Financial Highlights 4 Chairman’s Statement 6 Board of Directors and Executive Management 8 Business Review 10 Our Marketplace 10 Business Model 14 Our Strategy 14 Our Strengths 16 Principal Risks and Uncertainties 17 Key Performance Indicators 18 Group Financial Summary 20 Flight Support 22 — Flight Support Network 24 — Signature Flight Support 26 — ASIG 32 Aftermarket Services and Systems 38 — Aftermarket Services and Systems Network 40 — Engine Repair and Overhaul 42 — Legacy Support 48 — APPH 54 Corporate Social Responsibility 60 Financial Matters 64 Additional Disclosures 66 Directors’ Corporate Governance Statement 68 Directors’ Remuneration Report 75 Going Concern and Statement of Directors’ Responsibilities 84 Consolidated Financial Statements 85 Independent Auditor’s Report 85 Consolidated Income Statement 86 Consolidated Statement of Comprehensive Income 87 Consolidated Balance Sheet 88 Consolidated Cash Flow Statement 89 Consolidated Statement of Changes in Equity 90 Accounting Policies 91 Notes to the Consolidated Financial Statements 95 Company Financial Statements 126 Independent Auditor’s Report 126 Company Balance Sheet 127 Accounting Policies 128 Notes to the Company Financial Statements 129 Principal Subsidiary Undertakings 134 Five Year Summary 135 Shareholder Information 136
Page 1: Annual Report 2010
Page 5 and 6: Group Structure Revenue by business
Page 7 and 8: Revenue Revenue increased by 4% on
Page 9 and 10: Corporate Governance The Board beli
Page 11 and 12: Michael Harper (66) Chairman Simon
Page 13 and 14: Worldwide Business Jet and Turbopro
Page 15 and 16: Commercial Aviation Our commercial
Page 17 and 18: Each of the fve businesses has a cl
Page 19 and 20: Principal Risks and Risk Potential
Page 21 and 22: Return on Invested Capital (ROIC) M
Page 23 and 24: Proft before tax increased by 42% t
Page 25 and 26: Financial Summary 2010 2009 Inc/(de
Page 27 and 28: ASIG United States of America, Cari
Page 29 and 30: Directors’ Report — 27
Page 31 and 32: Revenue 2010 2009 Inc/(dec) 20091 I
Page 34 and 35: ASIG Focused on growth 32 — Direc
Page 36 and 37: Key Facts ASIG is a world leading i
Page 38: London Heathrow: the A380 is a doub
Page 41 and 42: Financial Summary 2010 2009 Inc/(de
Page 43 and 44: Legacy Support United States of Ame
Page 45 and 46: Directors’ Report — 43
Page 47 and 48: Revenue 2010 2009 Inc/(dec) 20091 I
Page 50 and 51: Legacy Support Flexible resources m
Page 52 and 53:
Key Facts Legacy Support is a leadi
Page 54 and 55:
Houston, Texas: a Legacy Support st
Page 56 and 57:
APPH Delivering continuous improvem
Page 58 and 59:
Key Facts APPH has a niche focus an
Page 60:
Runcorn, UK: a Jas39 Gripen nose la
Page 63 and 64:
CSR leadership Group-wide Providing
Page 65 and 66:
The Group also launched its new par
Page 67 and 68:
A signifcant proportion of our debt
Page 69 and 70:
Suppliers Payment Policy Substantia
Page 71 and 72:
The Board has a formal schedule of
Page 73 and 74:
a. Remuneration Committee Compositi
Page 75 and 76:
Guidance on Audit Committees. The A
Page 77 and 78:
Directors’ Remuneration Report I
Page 79 and 80:
The following chart shows the balan
Page 81 and 82:
d. Longer-term performance incentiv
Page 83 and 84:
Annualised total shareholder return
Page 85 and 86:
e. Pension: policy and implementati
Page 87 and 88:
Independent Auditor’s Report to t
Page 89 and 90:
Consolidated Statement of Comprehen
Page 91 and 92:
Consolidated Cash Flow Statement Op
Page 93 and 94:
Accounting Policies Basis of Accoun
Page 95 and 96:
Property, Plant and Equipment Prope
Page 97 and 98:
Notes to the Consolidated Financial
Page 99 and 100:
2. Proft for the year Proft for the
Page 101 and 102:
5. Dividends On 21 May 2010, the 20
Page 103 and 104:
8. Intangible assets - continued Th
Page 105 and 106:
10. Investments in associates Cost
Page 107 and 108:
13. Trade and other payables Amount
Page 109 and 110:
16. Bank overdraft and loans - cont
Page 111 and 112:
17. Derivative fnancial instruments
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
19. Pensions and other post-retirem
Page 119 and 120:
19. Pensions and other post-retirem
Page 121 and 122:
21. Share capital and reserves Allo
Page 123 and 124:
21. Share capital and reserves - co
Page 125 and 126:
23. Cash fow from operating activit
Page 127 and 128:
26. Related party transactions Tran
Page 129 and 130:
Company Balance Sheet 2010 2009 Not
Page 131 and 132:
Leases Where assets are f nanced by
Page 133 and 134:
6. Creditors: amounts falling due w
Page 135 and 136:
10. Capital and reserves Details of
Page 137 and 138:
Five Year Summary 2010 2009 2008 20
Page 139 and 140:
This Annual Report is addressed sol
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