Airport Development & Expansion Summit

Ansgar Fischer, Project Director

March 2016
AviAlliance

Hamburg
Düsseldorf Budapest

Tirana
Athens

Airports currently owned

Airports previously owned

Sydney
Advisory

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AviAlliance’s history
A successful transition from construction background to a global airport
operator with an ambition to expand its international portfolio

1970 ~ 1995 2000 2002 2004 2006 2008 2010 2012 2014

1970 - 1996 2002 2005 2007 2013

1990 Athens Sydney Tirana Inter- Budapest New owner
Jeddah, International Airport national Airport PSP
Warsaw, Airport Airport
German
airports 1997 2002 2005
Düsseldorf Hamburg AviAlliance
Airport Airport Capital
2000 (increase
Hamburg of share)
Airport

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Public Sector Pension Investment Board (PSP)
Profile
PSP is a large Canadian pension investment manager with significant amount of
capital to deploy in the coming years.
 Incorporated as Crown Corporation in 1999, headquarters in Montreal, Canada
PSP‘s mandate is to manage employer and employee contributions of four
pension funds (Federal Public Service, Canadian Forces, Reserve Forces, Royal
Canadian Mounted Police)
 Net assets under management in 2015: CAD 112 b (EUR 76 b)
 PSP invests long-term in its well diversified asset portfolio with Real Return Assets
becoming more significant in the future
Current Asset Mix Target Policy Portfolio
6 % Infrastructure 13 % Infrastructure
9% 14%
15% 26% 33%
13%

50% 40%

Real Return Assets Public Market Equity Nominal Fixed Income Private Equity
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PSP Infrastructure
Overview
 Introduced in PSP in 2006
 Sectors include: power, energy and resources, regulated utilities, transportation,
social infrastructure
 Long-term investment horizon (greater than 10 years) while seeking adequate
liquidity and a viable exist strategy
 Target size of investments range from CAD 300m to CAD 1.5b through equity,
listed securities, debt and funds
 Preferred investment position of 20% - 49% interest alongside a strategic /
financial partner, though 100% interests can be considered

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PSP Infrastructure Portfolio

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Budapest Airport

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2015 Figures

AviAlliance shareholding 52.67%

AviAlliance takeover 2007
Passengers in millions 10.3
Aircraft movements 92,294
Cargo in tons 91,400
Sales revenues in EUR m 216.2
EBITDA in EUR m 165.8

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Passenger Development

BUD - Passenger development

12
Passengers in million

10
8
Global economic crisis Malév crisis & bankruptcy
6
4
2
- 2010

2015
2006

2007

2008

2009

2011

2012

2013

2014
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Passenger Terminal – Original Terminal Design

In 2007, BUD planned to expand Terminals 2 by adding a central SkyCourt and

two piers for full service and especially transfer passenger operations.
When difficulties with Malev became apparent, BUD suspended works on the
piers in 2010.
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Sky Court
Construction works

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Sky Court
Opening 2011

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03 February 2012
Sad hours at Budapest Airport

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Dedicated Low Cost Facilities

T2

12 low cost boarding gates set up,

allowing walk-on, walk-off boarding
system (Basic Boarding Gates)

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Terminal Development
Pier B

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Pier B
Aircraft parking efficiency

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Pier B
Interior concept

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Pier B
Airside view

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Airport Hotel

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Integrator Development
T1 precinct

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The Future of Budapest Airport
T2 and Cargo City precinct

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Recent awards
Our operational achievements to date (selection)

Budapest Airport 2016, Athens International Budapest Airport 2015 Athens International
2015 and 2014 Airport 2015 ACI EUROPE Best Airport Airport 2015
Skytrax World Airport Routes Europe Awards: “Highly “CAPA Airport Chief
Awards: “Best Airport Marketing Awards: commended, 5-10m PAX Executive of the Year”
Eastern Europe” Winner, 4-20m PAX category” award for Yiannis
Düsseldorf Airport 2013 category” Athens International Paraschis
Skytrax World Airport Budapest Airport 2015 Airport 2014 Budapest Airport 2015
Awards: “Best Regional World Routes Marketing ACI EUROPE Best Airport “Airport of the Year”
Airport Europe” Awards: “Highly Awards: “Winner, 10- award for excellence
commended, 4-20m PAX 25m PAX category”
category” Hamburg Airport 2013
ACI EUROPE Best Airport
Awards: “Winner, 10-
25m PAX category”
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