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Annual Report 2020 Report of the Directors 1 Swissport Tanzania Plc - Annual report 2020 Report of the directors 1 SWISSPORT TANZANIA PLC Financial summary and production trends Director’s profile 2020 key facts Letter of transmittal Our esteemed customers Swissport customerANNUAL trend from 2016 The chairman’s statement Taarifa ya mwenyekiti 2020 CEO report Ripoti ya MkurugenziREPORT Mkuu 2020 Report of the directors Statement of directors’ responsibilities Declaration of the chief financial officer Independent2020 auditors’ report Financial statements Statement of profit or loss and other comprehensive income Statement of financial position Statement of changes in equity Statement of cash flows Notes to the financial statements Management team General information Financial summary and production trends Director’s profile 2020 key facts Letter of transmittal Our esteemed customers Swissport customer trend from 2016 The chairman’s statement Taarifa ya mwenyekiti 2020 CEO report Ripoti ya Mkurugenzi Mkuu 2020 Report of the directors Statement of directors’ responsibilities Declaration of the chief financial officer Independent auditors’ report Financial statements Statement of profit or loss and other comprehensive income Statement of financial position Statement of changes in equity Statement of cash flows Notes to the financial statements Management team General information Contents 3 CONTENTS Financial summary and production trends 4 Director’s profile 5 2020 key facts 6 Letter of transmittal 6 Our esteemed customers 7 Swissport customer trend from 2016 8 The chairman’s statement 9 Taarifa ya mwenyekiti 11 2020 CEO report 13 Ripoti ya Mkurugenzi Mkuu 2020 16 Report of the directors 20 Statement of directors’ responsibilities 40 Declaration of the chief financial officer 41 Independent auditors’ report 42 Financial statements Statement of profit or loss and other comprehensive income 47 Statement of financial position 48 Statement of changes in equity 49 Statement of cash flows 51 Notes to the financial statements 52 Management team 95 General information 96 Certified: ISAGO ISO 9001: 2015 Quality Management System ISO 14001: 2015 Environmental Management System 4 Swissport Tanzania Plc - Annual report 2020 FINANCIAL SUMMARY AND PRODUCTION TRENDS Financial summary and production trends PRODUCTION TREND EBIT MARGIN TREND Director’s profile % 3% 50 2020 key facts 30.000 % % 140.000 -11 % 10 % 40 23 -3 120.000 Letter of transmittal 25.000 % % -14 -8% 30 % % 4 100.000 Our esteemed customers 20.000 38 -5 % % 20 % % 1 -8 -19 -2 80.000 Swissport customer trend from 2016 11% -6% 10 15.000 % % % % 9 -1 % -39 60.000 16 -9 % -21% 10.000 % % -5 4 13 40.000 (10) The chairman’s statement % % 5.000 -40 -3 20.000 (20) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Taarifa ya mwenyekiti - - 33 32 32 42 46 38 33 21 10 - 12 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2020 CEO report Gross flights 11.161 11.590 13.098 15.225 16.534 16.299 14.792 14.051 8.421 8.201 Ripoti ya Mkurugenzi Mkuu 2020 Gargo (tons) 27.605 28.354 25.126 23.908 24.874 20.145 19.676 18.551 18.779 17.354 PROFIT/LOSS AFTER TAXATION Report of the directors Passengers (’0’) 59.229 65.707 90.535 111.11 121.83 118.35 101.32 92.845 56.864 44.970 Statement of directors’ responsibilities TZS MIL Declaration of the chief 20.000 financial officer 15.000 Independent auditors’ report GROSS VS WEIGHTED FLIGHTS 10.000 5.000 25.000 Financial statements % Statement of profit or loss and 20.000 -3 other comprehensive income % 15.000 (5.000)1 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 10.238 6.723 7.496 12.937 18.137 15.232 11.934 7.459 2.311 (2.587) Statement of financial position 10.000 Statement of changes in equity 5.000 Statement of cash flows 2014 2015 2016 2017 2018 2019 2020 EARNINGS PER SHARE Notes to the financial statements Gross flights 15,225 16,534 16,299 14,792 14,051 8.421 8.201 600 Weighted Flights 19,058 21,402 20,872 16,406 14.621 9,523 7,384 500 Management team 400 300 200 100 General information REVENUE TREND (100) (200) 70.000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 60.000 197 187 208 359 504 423 332 207 64 (72) 50.000 40.000 30.000 DIVIDEND PER SHARE 20.000 TZS Mil 10.000 300 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 250 Cargo 11.161 11.900 12.946 17.318 22.195 20.277 18.436 18.690 18.495 16.972 200 Ground handling 17.149 18.525 23.278 27.271 35.161 37.225 32.657 29.524 16.951 9.447 Total 28.310 30.425 36.224 44.589 57.356 57.502 51.093 48.214 35.446 26.419 150 100 50 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 95 167 88 178 248 120 166 104 - - NET CURRENT ASSET/LIABILITY TZS Mil 8.000 6.000 4.000 2.000 - (2.000) (4.000) (6.000) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 7.215 7.249 7.774 7.315 4.297 (5.375) 2.389 104 (296) 678 Directors profile 5 CURRENT DIRECTORS’ PROFILES Financial summary and production trends Jeroen de Clercq Chairman of the Board Director’s profile BSc. Business Admiration 2020 key facts Letter of transmittal Dutch, Age 58 Our esteemed customers Mr. de Clercq has over 30 year of experience in the aviation industry and currently is Senior Vice President Swissport customer trend from 2016 Sub-Saharan Africa & Israel of Swissport International Ltd (SPI). He held various positions within the Swissport Group including those of Chief Executive Officer for Swissport Kenya Limited and Swissport South Africa (Pty) Ltd. Prior to Swissport he worked for KLM Royal Dutch Airlines where he held various operational The chairman’s statement and commercial management positions. He serves as a chairman of the board of Swissport Ghana Ltd, Taarifa ya mwenyekiti Swissport Kenya Ltd, Swissport Cargo Services Israel Ltd and QAS Israel Ltd. He has been in the Board of 2020 CEO report Directors of Swissport Tanzania Plc (SPT) since June 2006, representing SPI. Ripoti ya Mkurugenzi Mkuu 2020 Report of the directors Eric Muriithi Statement of directors’ responsibilities Non-Executive Director MBA. Accounting and Finance Declaration of the chief financial officer Kenyan, Age 36 Independent auditors’ report Mr. Miriithi has over 11 years of experience in finance, audit and strategic advisory roles for multinationals. Currently is a Chief Financial Officer Kenya & Head of Finance Sub-Saharan Africa and Israel of Swissport Financial statements International Ltd. Before joining Swissport he worked as an Internal Auditor and Assistant Vice President, Statement of profit or loss and Finance of Barclays Bank Kenya. He has external audit background having worked with KPMG as Auditor Senior. He was appointed to SPT Board of Directors in March 2020 representing SPI. other comprehensive income Statement of financial position Statement of changes in equity Dr. Charles Kimei Independent Non-Executive Director Statement of cash flows Doctor of Philosophy-Phd. Money and Finance Notes to the financial statements Tanzanian, Age 68 Management team Dr. Kimei has over 40 years of experience in the banking and financial sector. He is the former banker who was MD & CEO of CRDB Bank Plc for 21 years. Prior to joining CRDB Bank he worked with Bank of Tanzania General information as Director of Banking Supervision, Director of Economic Research, Head of Domestic Division Research Department and Manager Economic Research and Policy. He serves on various board including Trustees of Halo Pesa as the chairman and Research Policy for Development (REPOA) as a member. He joined the Board of Directors of SPT in April 2019 representing the minority shareholders. Raymond Mbilinyi Independent Non-Executive Director BSc in Engineering; MBA in Marketing Tanzanian, Age 56 Mr. Mbilinyi is the Chairman & CEO TanBizLink. Prior to that he held various position with the Government of the United Republic Of Tanzania. His previous roles within the Government includes Executive Secretary Tanzania National Business Council, Executive Director, Director of Investment promotion and Director of Promotion of Tanzania Investment Centre. He serves in various board including Equity Bank Tanzania as the chairman and Tanga Cement Plc as a member. He joined the Board of Directors of SPT in April 2016 representing minority shareholders 6 Swissport Tanzania Plc - Annual report 2020 2020 KEY FACTS Financial summary and production trends Director’s profile 2020 key facts Letter of transmittal Our esteemed customers CARGO TONS HANDLED FLIGHTS HANDLED THOUSAND) (THOUSAND) Swissport customer trend from 2016 The chairman’s statement Taarifa ya mwenyekiti 2020 CEO report Ripoti ya Mkurugenzi Mkuu 2020 45 2 Report of the directors PASSENGERS SERVED CARGO Statement of directors’ responsibilities (THOUSAND) WAREHOUSES Declaration of the chief financial officer Independent auditors’ report Financial statements Statement of profit or loss and 715 2 EMP LOYEES AIRPORTS other comprehensive income Statement of financial position Statement of changes in equity Statement of cash flows Notes to the financial statements 25 CUSTOMERS Management team Certified: General information REVENUE AIRCRAFT TURNS ISAGO ISO 9001: 2015 Quality Management System + 1 0.4 % + 5.7 % ISO 14001: 2015 Environmental Management System 201 2 billion euros 201 216 million 201 21 billion euros 1 201 20 million EBITDA2 CARGO TONS + 28.7 % + 1 .9 % 201 22 million euros 201 million tons 201 2122 million euros 1 201 6 million tons 1 LETTER OF TRANSMITTAL 2 To The annual report contains the Chairman’s Statement, The shareholders CEO’s Report, Report of the Directors, Auditors’ Report Swissport Tanzania Plc.
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