Airports Company South Africa-Annual Results Release Airports Company South Africa SOC Ltd Reg No 1993/004149/30 VAT No 4930138393 Bond Code ISIN AIR01 ZAG000038084 AIR02 ZAG000052838 AIR04 ZAG000116369 AIR05 ZAG000116351 AIRL01 ZAG000052846 Tel +27 11 723 1400 Fax +27 11 453 9354 The Maples, Riverwoods, 24 Johnson Road, Bedfordview, Gauteng, South Africa, 2008 PO Box 75480, Gardenview, Gauteng, South Africa, 2047 www.airports.co.za Airports Company South Africa - Driving new frontiers for sustainable growth Performance highlights: - Revenue increased by 6.8% to R8.3 billion (2015: R7.8 billion) - New routes, passenger volumes, non-aeronautical revenue boost performance - Profit for the year increased by 20.3% to R1.96 billion (2015: R1.6 billion) - Interest-bearing borrowings reduced by 13.1% to R9.8 billion (2015: R11.3 billion) - 96% of key performance indicators met Johannesburg, 23 September 2016 - Airports Company South Africa reported revenue growth of 6.8% to R8.3 billion in the year ended 31 March 2016, driven by the introduction of new routes, growth in passenger numbers and a strong performance in non-aeronautical revenue. Bongani Maseko, Chief Executive Officer of Airports Company South Africa, said the new routes included flights by Kenya Airways to Cape Town International Airport, Ethiopian Airlines to King Shaka International Airport and increased frequency of flights by Emirates Airlines and British Airways, among others. Passenger growth to and from Europe and Asia contributed further to overall performance. The Company reported a combined total of 19.4 million departing passengers from the nine airports it owns and operates. The 2016 financial year saw a year-on-year annual growth rate in departing passengers and aircraft landings of 8.6% and 4.0% respectively, leading to R5.2 billion (2015: R4.9 billion) in aeronautical revenue. Maseko said that stronger partnerships and greater cooperation with airlines had enabled the Company to facilitate the new routes and increased flight frequencies by international airlines. The Company continued with its deleveraging strategy and R1.5 billion in debt was repaid during the financial year, which brings the total repaid over the past five years to R7 billion. Airports Company South Africa met 96% of its performance objectives. "The executive team and employees across Airports Company South Africa have demonstrated a desire to listen to and respond to the needs of our stakeholders, and this developing outward focus of our culture bodes extremely well for the future" said Maseko. According to Maseko the ability to develop and maintain strong partnerships with all of its stakeholders are core elements of the Company's new business operating model and central to enhancing its status as a well-run state owned company. Maseko concluded, "Our future outlook will entail a clear and consistent focus on the strategy that we have outlined towards achieving Vision 2025. This process will include the incorporation of the governance framework and operating model and will rely on the continued support of our people and stakeholders as we transition to our new strategy to guide us to 2025 and beyond". Media Queries: Airports Company South Africa Nangamso Jacobs Media Liaison Officer T: 011 723 1595 M: 061 819 5280 E: Nangamso.Jacobs@airports.co.za Debt Sponsor: The Standard Bank of South Africa Limited Date: 23/09/2016 04:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.