Annual report 2012/2013

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2 Chairman Message existed as one of EGYPTAIR along 81 years and established as a subsidiary company of EGYPTAIR HOLDING in Our commitment is to support the Egyptian export movement, achieve our growth targets and to upgrade our existing achievements while adding new ones. Along our success path, s main strategy includes protecting our liquidity, improving our efficiency, increasing our speed of delivery, quality, product reliability and to keep shipments secured. As freight market showed strong growth, our financial results experienced a significant improvement and further gains are expected. In view of Egypt s national strategy for air Cargo, We are expanding our terminals into an additional location within Cairo Airport while re structuring the existing ones. Amongst our on process projects are the implementation of the ACC3 concept; preparing to receive an independent validator on behalf of the EU, and moving towards the paperless environments by adding 4 more stations to the e-awb scheme. We aim to exceed benchmarked levels of customer satisfaction while our highest priority is our flights safety, which we regard as the most important element in the freight process. To fulfill our aims, we depend on our qualified human resources as a major factor. We possess an ambitious HR Developments strategy with solid plans which are continuously in progress to rely on an assuring accurate implementation. We know that challenges will always be there, but we are committed to conduct our business in a way that provides quality, safety, reliability and added value to our customers. Capt. Basem Gohar 40

3 Board of Directors Capt. Basem Mohamed Fouad Gohar Chairman & CEO Mr. Mohamed Abd El Maksoud El Salhawy VP Customs Authority Capt. Asaad Mohamed Darwish Civil Aviation Expert Capt. Walid Mourad Mohamed Ismail Member at Board of Directors Capt. Hany Azmy Yassin Awad Member at Board of Directors Mr. Salah El Din Abd El Salam Senior Cargo Officer Mr. Fathy Fath El Bab Abd Allah Senior Cargo Technician Mr. Reda Ahmed Ghali Abo El Naga Member at Board of Directors Mr. Hassan Mohamed Hassan Shehata Syndicate Representative 41

4 Organization Chart Chairman & CEO Public Relations IT Crisis Management Technical Research Chairman s Office Customer Service Planning & Follow Up Economic Division Legal Affairs Financial affairs Engineering Affairs Commercial affairs Flight operations Quality, Safety & Environment Human Resources Cargo Division Other Airlines services & Complexes Import Export 42

5 Company Profile founded in 2002 as a subsidiary of EGYPTAIR HOLDING. has been on the forefront of air-transporting and handling general and special Cargo. Fleet/ Network fleet is composed of four medium range wide body two A/C A300 B4 Freighters and two A Freighter which cover existing freighter network reaching Middle East, Europe and Africa. Using the bellies compartments of EGYPTAIR AIRLINES fleet adding a significant capacity to EGYPTAIR transport capacity and allows us to reach destinations in the major cities in Europe, USA, Canada, Africa, Gulf Area and Far East. Terminals Terminals cover most regions all over Egypt from North to South. EGYPTAIR CARGO established its first Cargo terminal in May 1961 with 50,000 sqm and a capacity of 120,000 tons/ year. An additional area of 9600 sqm has been added to Cairo s Cargo Terminal to improve the cargo flow and increase capacity in line with our performance improvement project. handling facility at Cairo international airport is undergoing a reconstruction phase including improvement of work environment through optimizing of infrastructure, equipment, better maintenance, increase utilization of IT system, changed warehouse structure for use of LSP (this will help to minimize the process time and considered as a cost saving element) this is in addition to installation of new storage racks, as well as, the administrative areas. In September 1991, cargo terminal was established at Alexandria International Airport with a capacity of 20,000 tons /year offering a better service for the northern region of Egypt and has been connected to main Cargo Terminal in Cairo by regular ground transportation trips between Cairo and Alex. In February 2006 another Cargo terminal at Luxor International Airport was established with a capacity of 20,000 tons/year to serve the southern Egyptian governorates. Since October 2007, all cargo acceptance and customs inspection for all export Cargo have taken place in a new building offering a better work environment. Hub Our main cargo hub is located at Cairo International Airport. We have developed several regional hubs at Ostend Airport in Belgium, Stansted Airport in the UK, Hahn Airport in Germany, Chateauroux Airport in France, Nairobi Airport in Kenya and Sharjah Airport in UAE. These hubs offer direct access to and from the most important trading centers in Europe, Africa and the Middle East. 43

6 Services serves the requirements of its worldwide customers, whether they demand quick services, specialized handling and transport or total logistical solutions. Most of these services are airportto-airport, aimed at forwarders or brokers on other freight transport companies. Expansion in Business has extended its business to include the managing and operating of other related projects like the Perishable Center at Cairo International Airport in Conjunction with Horticultural Export Improvement Association (HEIA). Development Stages Obtaining Application of E-Trace system to follow up shipments status. Developing IT infrastructure to improve communication. Applying KPI in order to evaluate performance. Participating in C2K as associated member. Taking necessary procedures to comply with TAPA requirements. Outsourcing with CHAMP Cargosystems that provides integrated IT solutions and distribution services for all players in the air cargo transport chain. Obtaining IOSA certificate. Performance Highlights Total Cargo carried in FY 2012 /2013 through cargo complex reached 124,231 Tons. Total Cargo Handled For foreign airlines reached 64,119 tons during FY 2012/2013. New Markets were opened in Europe, new business won carrying day old Chicks from CHR Chateauroux (France). A stability in market share carrying and handling approximately 60% from total export market weight and 55% from total import market weight. Signing bilateral agreements with global aviation, Libyan airlines, which has allowed us to carry freight directly from Emirates and Belgium to Libyan Arab Jamahiriya. Operating 415 Flights during FY 2012/2013. Concluding SPAs between and the following airlines: American Airlines Malaysian Airlines Czech Airlines - Turkish Airlines Korean Air China Airlines - Thai Airways. Signing bilateral Agreements between Egyptian Civil Aviation and the Civil Aviation in the following Countries: Thailand Georgia Denmark Sweden Norway - Zimbabwe Indonesia Djibouti. Ꮯ Ꮯ Updating all Cargo manuals. 44

7 Main Projects started a huge project to develop the existing facilities and infrastructures in Cargo village at Cairo International Airport by increasing the storage areas, establishing new cool rooms and special stores for dangerous goods and chemicals. Improving of IT infrastructure and software by applying E-freight project to the whole shipping phases, which replaces paper documents with electronic messages and reducing costs, thus minimizing transit times, maximizing accuracy and competitiveness of air freight. Implementation of a new HR development system. Investing in Borg EL Arab Airport in Alexandria and acquiring a 50% share in Luxor cargo facilities in cooperation with the Egyptian Company for Airports. HR has HR Development strategy aligned to the National Strategy with social responsibility aspects. requires and develops an effective work force through the forecasting HR requirements and matching the new hires with suitable job vacancies, compiling data, and developing workload and manpower requirement. The main objective is to design an organizational structure conductive to change and supportive of re designed process. The principles that have been considered on preparing the training plan are the following: - Programs and Courses relative to the job description and responsibilities. - Improving the knowledgeable and vocational employees level. For the year organized 161 courses for 2206 trainees, including Pilots, engineers, administrative employees, technicians and workers. Analysis of current training requirements of managers and employees at, elaborating of a training plan including description of target group, goal, contents, and appropriate training methods leads to productive training strategy and plans. 45

8 Statistics Exports load by Region (KG) Region FREIGHTER BELLIES Total MIDDLE EAST 4,122,133 38,525,873 42,648,006 AFRICA 824,938 4,488,068 5,313,006 FAR EAST - 682, ,821 EUROPE 8,374,000 15,275,308 23,649,308 AMERICA - 2,216,716 2,216,716 TOTAL 13,321,071 61,188,786 74,509,857 AMERICA 3% EUROPE 32% MIDDLE EAST 57% FAR EAST 1% AFRICA 7% Exports Percent Share by Region ( ) 46

9 Imports load by Region (KG) Region FREIGHTER BELLIES Total MIDDLE EAST 657,862 7,130,960 AFRICA 539, ,480 FAR EAST - 4,095,178 EUROPE 8,803,050 10,302,597 AMERICA - 2,009,411 Total 10,000,124 24,287,626 7,788,822 1,288,692 4,095,178 19,105,647 2,009,411 34,287,750 Total Cargo Carried (KG) Years EXP IMP Charter ,776,730 37,321,454 17,979, ,220,644 37,865,037 16,332, ,622,479 42,111,145 13,488, ,781,294 35,144,458 14,423, ,509,857 34,287,750 12,339,310 EUROPE 56% AMERICA 6% MIDDLE EAST 22% AFRICA 4% FAR EAST 12% 47 Imports Percent Share by Region ( )

10 CO, STATEMENT OF FINANCIAL POSITION AT 30/06/2013 PARTICULARS 2011/ /2013 LONG - TERM ASSETS Fixed Assets (net ) 367,808, ,021,383 Projects In Progress 14,890,544 80,593 LONG - TERM investments 1,750,000 2,000,000 Long - Term Loans And Debit Balances 13,168,294 13,168,294 Total of Long - term assets (1) 397,616, ,270,270 Current assets Stock 3,733,920 3,942,791 Customers, Notes Receivables And Debit 294,929, ,433,431 Accounts Cash in banks and in hand 77,532,626 51,208,772 Total current assets 376,195, ,584,994 Current Liabilities Provisions 18,865,296 18,798,130 Creditor banks - - Suppliers, Notes Payable And Credit Accounts 555,096, ,160,129 Total current liabilities 573,961, ,958,259 Working capital (2) (197,766,042) (159,373,265) Total investment (1+2) 199,850, ,897,005 financed as follows : Issued capital 65,000,000 65,000,000 Paid Up Capital - Reserves 72,307, ,373,921 Total Equity (3) 137,307, ,373,921 Long - Term Liabilities (4) 62,543,326 42,523,084 Total financing of investment (3+4) 199,850, ,897,005 CO, THE RESULT ACCOUNTS FROM 1/7/2012 TO 30/6/2013 REVENUES 2011/2012 PARTICULARS 2012/2013 Activity Revenues. 587,855, ,562,795 Grants & Donations. - 1,639,110 Investments Revenues & Interests. 1,047,937 1,690,185 Other Revenues & Profits. 63,606,221 15,813,676 Total Revenues 652,509, ,705,766 COSTS & EXPENDITURES PARTICULARS 2011/ /2013 Raw Material, Requisites, Fuel & Spare Parts. 201,249, ,249,242 Wages. 122,694, ,819,851 Expenditures. 218,181, ,393,560 Purchases of goods for sale purposes. - - Burdens & Losses. 35,018,932 22,176,739 Total Cost & Expenditures. 577,143, ,639,392 SURPLUS or DEFICIT 75,366,211 39,066,374 48