NOTICE OF
2020
ANNUAL GENERAL MEETING
Australian Airports Association Limited
ACN 008 647 336
Wednesday, 25 November 2020 1:00pm – 1.30pm (AEDT)
(via videoconference)
MESSAGE FROM THE CHAIR
Thank you for your ongoing support of the Australian Airport Association Limited (AAA). I have the pleasure of inviting you to attend the 2020 Annual General Meeting (AGM). Notice is given that the annual general meeting of Australian Airports Association Limited (ACN 008 647 336) (Company) will be held on Wednesday, 25 November 2020 at 1:00pm – 1.30pm (AEDT) via videoconference. This Notice includes a copy of all supporting meeting papers. Additional copies of the AGM papers are available by contacting the Company Secretary, Glen Bortolin, at the AAA Office on (02) 6230 1110 or [email protected].
AGM OVERVIEW
The 2020 AGM will be held as a virtual meeting. To register please click on the following link: https://register.gotowebinar.com/register/7217965492811184400
AGENDA (Annexure A) GENERAL BUSINESS
1. Welcome & Introductions 2. Apologies The Chair to advise the meeting of any notable apologies for the meeting including directors. 3. Quorum The Company Secretary will confirm to the meeting that a quorum has been reached – minimum of 25 Category A – Airport Members. 4. Welcome to New Members (Annexure B) A welcome is extended to new members by the Chair.
ORDINARY BUSINESS
5. Minutes of Annual General Meeting 2019 (Annexure C) To receive and confirm the minutes of the Annual General Meeting held on 20 November 2019 at the Gold Coast Exhibition and Convention Centre.
The Chair will confirm with members the reading of the Notice of Meeting and members will consider and be asked to approve the minutes of the 2019 AGM. 6. Presentation of Financial Statements, Directors Report and Auditor’s Report 30 June 2020 (Annexure D). To receive and consider the following:
(a) Financial statements and accompanying notes thereof for the financial year of the Company ending on 30 June 2020.
(b) Director's report for the financial year of the Company ending on 30 June 2020; and
(c) Auditor's report on the financial report for the financial year of the Company ending on 30 June 2020.
Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336
7. Chair’s Report (Annexure E) This report will be tabled as being read. 8. Appointment of Directors (Annexure F) To provide details of the elected Board Directors and their Alternates.
SPECIAL BUSINESS
9. Resolution – Appointment of Auditors
OTHER BUSINESS ______10. To transact any other business that may be brought forward by those in attendance.
11. Annual General Meeting 2021 To confirm to members the date and location of the 2021 Annual General Meeting.
MEETING CLOSE
Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336
OTHER INFORMATION Who may vote All Category A Members of the Company (or, in the case of Category A Members who are not individuals, the representative appointed pursuant to Article 4.13 of the Constitution).
At member registration for the AGM, it is important that any person designated as the 'official voter' for each eligible voting member, be pre-determined and identified as such at that time. Please note article 7.20 of the AAA Constitution, which states that if any annual subscription fee is due and payable by a member and is not paid, or the member is suspended, then the member has no right to be present at, be counted among the quorum for, or vote, whether in person or by proxy, attorney or representative at a general meeting of AAA. Proxies A Member of the Company who is entitled to attend and vote at the meeting has a right to Appointment appoint a proxy to attend and vote for the Member at the meeting. A proxy need not be a Member of the Company. Proxies To be valid, a proxy form must be received by the Company by 1 hour prior to the Lodgement scheduled start of the meeting noted in the notice of meeting (Proxy Deadline). Proxies may be submitted:
• by email to [email protected]
A written proxy appointment must be signed by the Member or the Member's attorney. Where the appointment is signed by the appointer’s attorney, a certified copy of the authority, or the authority itself, must be lodged with the Company to the abovementioned email address by the Proxy Deadline. See Annexure G for a copy of the proxy form and further instructions. Member The Chair and Board welcome member input and note that members will have a Participation reasonable opportunity at the AGM to:
• ask questions and make comments on the management of the Company. • ask questions in relation to any matter of business to be covered at the meeting including the financial statements of the Company.
Should you have any questions please do not hesitate to contact the Company Secretary, Glen Bortolin, on 02 6230 1110 or email [email protected].
Sincerely,
Tom Ganley AAA National Chair Australian Airports Association
Date: 5 November 2020
Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336
AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE A AGENDA
AGENDA AAA 39th ANNUAL GENERAL MEETING
DATE: WEDNESDAY 25 NOVEMBER 2020 TIME: 1.00pm-1.30pm (AEDT)
VIA VIDEOCONFERENCE
ITEM DESCRIPTION ANNEXURE General Business 1 Welcome & Introductions 2 Apologies 3 Quorum
4 Welcome to New Members B Ordinary Business 5 Minutes of the 2019 Annual General Meeting C 6 Presentation of Financial Statements, Directors’ D Report and Auditor’s Report for 30 June 2020 7 Chair’s Report E 8 Board appointments F Special Business
9 Resolution – Appointment of Auditors Other Business 10 Other Business Close of Meeting 11 Annual General Meeting 2021, Sydney 12 Meeting Close
Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336
AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE B NEW MEMBERS
New Members since the last AGM
The Australian Airports Association welcomes the following new members during the year:
Member State
Airports (in alphabetical order) Bland Shire Council NSW Cambridge Aerodrome Tas Colac Otway Shire Council Vic Gunnedah Shire Council NSW Gympie Regional Council Qld Hay Shire Council NSW Hinchinbrook Shire Council Qld McKinlay Shire Council Qld Moreton Bay Regional Council Qld Northern Peninsula Area Regional Council (Bamaga Airport) Qld Walgett Shire Council NSW Corporates (in alphabetical order) Ascend by Cirium NSW Avsec Group NSW Chief Group Services NSW CEIA S.p.A NSW Collins Aerospace NSW Cooper Grace Qld Droneshield NSW Dormakaba Vic Eifers Vic Elenium Automation Vic Environpacific Qld Freightquip Vic Gamuda Australia NSW JP Project Management NSW Magnetic Automation Vic Minter Ellison Qld Safety Grooving Australia WA Sanitisation Station NSW Tango 5 Aviation Vic Thales Australia ACT
Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336
ANNUAL GENERAL MEETING 2020 - ANNEXURE C MINUTES FROM PREVIOUS MEETING
Minutes Annual General Meeting 20 November 2019 Gold Coast Exhibition and Convention Centre
General Business 1 Welcome and The Chair welcomed members and opened the meeting at 8.15am.
Introductions 2 Apologies There were no apologies.
3 Quorum and Formal The Chair asked the Company Secretary whether the appropriate quorum Opening of Meeting requirement had been met. The Company Secretary confirmed that the 25 member minimum numbers had been met. 4 Welcome for new The Chair provided a welcome to new members, both airport and corporate members members, thanking them for their support. Ordinary Business 5 Minutes of 2018 AGM The Chair made note of the minutes of the previous meeting and called for any comments from meeting attendees. No comments were raised thereafter the Chairman asked for the members to approve the minutes of the previous meeting. Jenny Kox (Perth Airport) and Rod Evans (Port Hedland International Airport) seconded the minutes and subsequently the Chair confirmed that the minutes were duly approved. 6 Presentation of AAA The Corporate Services Director, Glen Bortolin, provided a brief overview of Financial Statements, the presented financial statements, including a high-level overview of the Directors Report and financial performance and position of the AAA for the year ending 30 June Auditor’s Report for 2019. the Year Ended 30 June 2019 Mr Bortolin asked if any members had questions about the presented financial statements, Directors and Auditors Reports. No questions were raised; therefore, the audited financial statements were accepted. 7 Chairman’s Report Mr Thompson provided a brief overview of the Chair’s Report presented in the Notice of Meeting papers.
Mr Thompson advised that Caroline Wilkie will be stepping down as CEO in December 2019 and thanked her for her support and leadership over the past nine years and wished her well in her new role. He advised that Simon Bourke (Policy Director) will be Acting CEO until a replacement is found.
No further comments or questions were raised. 8 CEO's Report The CEO Report was noted as read. No comments or questions were raised by meeting attendees.
Page 1 of 4 ANNUAL GENERAL MEETING 2020 - ANNEXURE C MINUTES FROM PREVIOUS MEETING
9 Appointment of The Chair referenced the following board and alternate appointments during Directors the year:
Directors Julie Stewart (NSW Director, Tamworth Regional Council) Jenny Kox (WA Director, Perth Airport) Norris Carter (Major Airport Director, North Queensland Airports Limited) Howard Aspey (SA Director, Whyalla Airport)
Alternates Ben Howard (NSW Alternate, Parkes Shire Council) Amol Virkar (WA Alternate, Karratha City Council)
No further comments or questions were raised. 10 Special Business There was no special business. 11 Other Business The Chair presented awards to departing directors:
Barrie Rogers (SA Director, formerly from Parafield Airport) Rob Menzies (WA Director, Broome International Airport) Lindsay Mason (NSW Director, Narrabri Shire Council) Chris Mills (Major Airport Director, Queensland Airports Limited)
The Chair also thanked outgoing Alternates:
David Costello (NSW Alternate, Albury Airport) Jenny Kox (WA Alternate, Perth Airport – incoming WA Director elect) Howard Aspey (SA Alternate, Whyalla Airport – incoming SA Director replacing Barrie Rogers term)
12 AGM 2020 The Chair noted the date and location for the 2020 AAA AGM, which would be held at the Sydney International Convention Centre on the 25th November 2020. 13 Close The Chair thanked members and staff for their attendance. The meeting was formally closed at 8.45am.
Signed as a correct record
...... Guy Thompson Chair
Page 2 of 4 ANNUAL GENERAL MEETING 2020 - ANNEXURE C MINUTES FROM PREVIOUS MEETING AUSTRALIAN AIRPORTS ASSOCIATION ANNUAL GENERAL MEETING 2019 – WEDNESDAY, 20 NOVEMBER 2019 LIST OF ATTENDEES & APOLOGIES
Airport Members (voting) Attendee Representing Kevin Thomas Aerodrome Management Services Pty Ltd (Barrow Island) Nat Thomas Aerodrome Management Services Pty Ltd (Halls Creek) Rodric Parry Archerfield Airport Corporation John Barnden Armidale Regional Council Rob Menzies Broome International Airport Paul Hodgen Launceston Airport Norris Carter Cairns Airport Stephen Carson Canberra Airport Salomon Kloppers Central Highlands Regional Council Andrew McCulloch City of Greater Bendigo Amol Virkar City of Karratha Guy Thompson Fayburn Pty Ltd Daryl Evans Fortesque Metals Group Paul Watson Hamilton Island Enterprises Joanne Monaghan City of Kalgoorlie-Boulder Norris Carter Mackay Airport Katie Cooper Melbourne Airport Bill Chapman Mildura Airport Paul Ferguson Moorabbin Airport Lindsay Mason Narrabri Shire Council Andrew Gill Newcastle Airport Les Mitchell Nhulunbuy Corporation Ian Kew Northern Territory Airports (Darwin International Airport) Tom Ganley Northern Territory Airports (Darwin International Airport) Dave Batic Northern Territory Airports (Alice Springs Airport) Dave Batic Northern Territory Airports (Tennant Creek Airport) Jenny Kox Perth Airport Rod Evans Port Hedland International Airport Chris Mills Queensland Airports Limited (Gold Coast Airport) Chris Mills Queensland Airports Limited (Longreach Airport) Chris Mills Queensland Airports Limited (Mount Isa Airport) Chris Mills Queensland Airports Limited (Townsville Airport) Andrew Brodie Sunshine Coast Airport Julie Stewart Tamworth Regional Council Brian Joiner Whitsunday Coast Airport Howard Aspey Whyalla City Council Corporate Members (non-voting) Attendee Representing Jim Parsons Fulton Hogan Andrew Gardiner To70 Apologies None Life Members Peter Pallot
Page 3 of 4 ANNUAL GENERAL MEETING 2020 - ANNEXURE C MINUTES FROM PREVIOUS MEETING
AAA Staff Attendee Caroline Wilkie Chief Executive Officer Glen Bortolin Corporate Services Director & Company Secretary Simon Bourke Policy Director Joeley Pettit Corporate Affairs Director Samantha Leighton Policy Manager Scott Martin Policy and Corporate Affairs Manager Melissa McKechnie Finance Officer Becky Churcher Marketing Manager Natalie Perry Office Administrator and EA to the CEO
Page 4 of 4 ANNUAL GENERAL MEETING 2020 - ANNEXURE D AUDITED FINANCIAL STATEMENTS
$XVWUDOLDQ$LUSRUWV$VVRFLDWLRQ/LPLWHG $%1 )LQDQFLDO6WDWHPHQWVIRUWKH\HDUHQGHG-XQH $XGLWSUHSDUHGE\
ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ &RQWHQWV )RUWKH )LQDQFLDO6WDWHPHQWV 'LUHFWRUV 5HSRUW $XGLWRUV,QGHSHQGHQFH'HFODUDWLRQXQGHU6HFWLRQ&RIWKH&RUSRUDWLRQV$FW 6WDWHPHQWRI)LQDQFLDO3RVLWLRQ 6WDWHPHQWRI3URILWRU/RVVDQG2WKHU&RPSUHKHQVLYH,QFRPH 6WDWHPHQWRI&KDQJHVLQ(TXLW\ 6WDWHPHQWRI&DVK)ORZV 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV 'LUHFWRUV 'HFODUDWLRQ ,QGHSHQGHQW$XGLW5HSRUW ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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ϯͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 'LUHFWRUV 5HSRUW -XQH *HQHUDOLQIRUPDWLRQ 3ULQFLSDODFWLYLWLHV 7KH$XVWUDOLDQ$LUSRUWV$VVRFLDWLRQH[LVWVWRDGYDQFHWKHLQWHUHVWVRILWVPHPEHUVDQGWRDFWDVWKHQDWLRQDOYRLFHRI $XVWUDOLD VDLUSRUWV ,WVREMHFWLYHLVWREHWKHOHDGDGYRFDF\RUJDQLVDWLRQWRDOOOHYHOVRI*RYHUQPHQWDQGLQGXVWU\RQDLUSRUWUHODWHGLVVXHV 7KHSULQFLSDODFWLYLWLHVRI$XVWUDOLDQ$LUSRUWV$VVRFLDWLRQ/LPLWHGGXULQJWKHILQDQFLDO\HDULQFOXGH y $GYRFDF\DGYLFHUHVHDUFKDQGSROLF\GHYHORSPHQWRQEHKDOIRIPHPEHUV y 'HOLYHU\RIQHWZRUNLQJHYHQWVIRUPHPEHUV y 5HWHQWLRQRIH[LVWLQJPHPEHUVKLSDQGUHFUXLWPHQWRIQHZPHPEHUV y 'HOLYHULQJFRVWHIIHFWLYHVHUYLFHVWKDWPHHWWKHREMHFWVRIWKHRUJDQLVDWLRQ 1RVLJQLILFDQWFKDQJHVLQWKHQDWXUHRIWKH&RPSDQ\ VDFWLYLW\RFFXUUHGGXULQJWKHILQDQFLDO\HDU 6KRUWWHUPREMHFWLYHV 7KH&RPSDQ\KDVLGHQWLILHGWKHIROORZLQJVKRUWWHUPREMHFWLYHV y (QJDJHZLWKDQGNHHSPHPEHUVLQIRUPHGRIDOOUHOHYDQWUHJXODWRU\DQGFRPSOLDQFHLVVXHVSHUWDLQLQJWRWKH DYLDWLRQLQGXVWU\ y %XLOGQHZDQGPDLQWDLQH[LVWLQJUHODWLRQVKLSVZLWKDYLDWLRQUHJXODWRUVDQGJRYHUQPHQWGHSDUWPHQWVWR FRPSOHPHQWDQGLPSURYHPHPEHUDGYRFDF\ y 0DLQWDLQWKHYDOXHSURSRVLWLRQRIPHPEHUVKLSEHQHILWV y &RPPXQLFDWHHIIHFWLYHO\ZLWKDOOOHYHOVRIWKHPHPEHUVKLS y 2SHUDWHZLWKLQWKH%RDUGDSSURYHG2SHUDWLQJ%XGJHWDQG&DSLWDO([SHQGLWXUHEXGJHWV ϰͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 'LUHFWRUV 5HSRUW -XQH *HQHUDOLQIRUPDWLRQ 6WUDWHJ\IRUDFKLHYLQJWKHVKRUWWHUPREMHFWLYHV 7RDFKLHYHWKHVHREMHFWLYHVWKH&RPSDQ\KDVDGRSWHGWKHIROORZLQJVWUDWHJLHV 6KRUWWHUPREMHFWLYHV y 7KH&KDLU&(2DQG$$$VWDIIDWWHQGRQDUHJXODUEDVLVWKH6WDWH7HUULWRU\'LYLVLRQDOPHHWLQJV y 7KHKRVWLQJRI0HHWLQJDQG1HWZRUNLQJ3URJUDPVWKDWHQJDJHZLWKDOOVWDNHKROGHUVLQFOXGLQJPHPEHUV UHJXODWRUVJRYHUQPHQWVDQGWKHPHGLD y 3URYLGLQJRSSRUWXQLWLHVIRUIHHGEDFNYLDUHJXODUVXUYH\VRIWKHPHPEHUVKLS y 0DLQWDLQLQJPRQWKO\DFWLYLW\UHSRUWLQJRQVWUDWHJLFPLOHVWRQHVIURPPDQDJHPHQWWRWKH%RDUG y (QVXULQJDOOVWUDWHJLFDQGRSHUDWLRQDOUHVRXUFHUHTXLUHPHQWVDUHIDFWRUHGLQWRDQDQQXDOEXGJHWLQJSURFHVVDQG WKDWWKH%RDUGPDQDJHPHQWDQGVWDIIDUHLQYROYHGLQLWVIRUPXODWLRQ /RQJWHUPREMHFWLYHV 7KH&RPSDQ\KDVLGHQWLILHGWKHIROORZLQJORQJWHUPREMHFWLYHV y (QVXUHWKHRUJDQLVDWLRQFRQWLQXHVWRRSHUDWHIRUWKHSXUSRVHIRUZKLFKLWZDVHVWDEOLVKHG y 0DLQWDLQILQDQFLDOYLDELOLW\DQGVXVWDLQDELOLW\RIWKH$VVRFLDWLRQ y &RQWLQXHWRJURZWKHRUJDQLVDWLRQZLWKWKHLQWHUHVWVRIWKHPHPEHUVSDUDPRXQW y 0DLQWDLQWKHVWURQJUHSXWDWLRQRIWKHRUJDQLVDWLRQDQGWKHZLGHULQGXVWU\ y (QKDQFHWKHLQGXVWU\(GXFDWLRQ3URJUDPWKDWDOLJQVZLWKWKHPHPEHUVLQWHUHVWV 6WUDWHJ\IRUDFKLHYLQJWKHORQJWHUPREMHFWLYHV 7RDFKLHYHWKHVHREMHFWLYHVWKH&RPSDQ\KDVDGRSWHGWKHIROORZLQJVWUDWHJLHV y 3UHSDUDWLRQRIDVWUDWHJLFSODQWRLGHQWLI\WKHRSSRUWXQLWLHVDQGVWUHQJWKVRIWKH$VVRFLDWLRQWRSURYLGHD VXVWDLQDEOHLQGXVWU\ y 3UHSDUDWLRQRIDVWUDWHJLFDOO\DOLJQHG)LYH ϱͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 'LUHFWRUV 5HSRUW -XQH *HQHUDOLQIRUPDWLRQ 3HUIRUPDQFHPHDVXUHPHQWDQGNH\SHUIRUPDQFHLQGLFDWRUV 7KHIROORZLQJPHDVXUHVDUHXVHGZLWKLQWKH&RPSDQ\WRPRQLWRUSHUIRUPDQFH y 5HWHQWLRQDQGUHFUXLWPHQWWDUJHWVIRUDOOPHPEHUVKLSFDWHJRULHV y $WWHQGDQFHWDUJHWVIRUPDMRUHYHQWVDQGPHDVXUHPHQWRIIHHGEDFNIURPDWWHQGHHV y 5HVXOWVRIWKHELDQQXDOPHPEHUVDWLVIDFWLRQVXUYH\ y 0DLQWHQDQFHRIDKLJKIXQFWLRQLQJDQGVWDEOHERDUG y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y -DPHV*RRGZLQ &KLHI([HFXWLYH2IILFHU y *OHQ%RUWROLQ &RUSRUDWH6HUYLFHV'LUHFWRU ϲͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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orporations Act 2001, IRUWKH\HDUHQGHG-XQHKDVEHHQUHFHLYHGDQGFDQEHIRXQGRQSDJH RIWKHILQDQFLDO UHSRUW 6LJQHGLQDFFRUGDQFHZLWKDUHVROXWLRQRIWKH%RDUGRI'LUHFWRUV 'LUHFWRU 'LUHFWRU 7KRPDV*DQOH\ 1DWLRQDO&KDLU 1RUULV&DUWHU 0DMRU$LUSRUW'LUHFWRU 'DWH 6HSWHPEHU ϳͮWĂŐĞ Crowe Canberra ABN 62 864 928 439 Audit and Assurance Services Level 1 55 Wentworth Avenue Kingston ACT 2604 Australia Locked Bag 3 Kingston ACT 2604 Australia Australian Airports Association Limited Tel 02 6260 4545 Fax 02 6260 4646 ABN: 89 008 647 336 www.crowe.com.au Auditors Independence Declaration under Section 307C of the Corporations Act 2001 to the Directors of Australian Airports Association Limited I declare that, to the best of my knowledge and belief, during the year ended 30 June 2020, there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) no contraventions of any applicable code of professional conduct in relation to the audit. CROWE CANBERRA Gabriel Faponle Audit Partner Registered Company Auditor No: 513644 Dated: 17th day of September 2020 Liability limited by a scheme approved under Professional Standards Legislation. The title ‘Partner’ conveys that the person is a senior member within their respective division, and is among the group of persons who hold an equity interest (shareholder) in its parent entity, Findex Group Limited. The only professional service offering which is conducted by a partnership is the Crowe Australasia external audit division. All other professional services offered by Findex Group Limited are conducted by a privately owned organisation and/or its subsidiaries. Findex (Aust) Pty Ltd, trading as Crowe Australasia is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Findex (Aust) Pty Ltd and its affiliates are not responsible or liable for any acts or omissions of Crowe Global or any other member of Crowe Global. Crowe Global does not render any professional services and does not have an ownership or partnership interest in Findex (Aust) Pty Ltd. Services are provided by Crowe Canberra, an affiliate of Findex (Aust) Pty Ltd. © 2019 Findex (Aust) Pty Ltd 8 | Page ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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ϵͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 6WDWHPHQWRI3URILWRU/RVVDQG2WKHU&RPSUHKHQVLYH,QFRPH )RUWKH\HDU(QGHG-XQH 1RWH 5HYHQXH 5HYHQXHIURPRUGLQDU\DFWLYLWLHV ([SHQVHV (PSOR\HH EHQHILWV H[SHQVH &RQIHUHQFHH[SHQVHV 'HSUHFLDWLRQDQGDPRUWLVDWLRQH[SHQVHV 2FFXSDQF\FRVWV $GPLQLVWUDWLRQH[SHQVHV )RUXPH[SHQVHV 3URMHFWH[SHQVHV 2WKHUH[SHQVHV 7RWDO H[SHQVHV 2SHUDWLQJ ORVV VXUSOXV 7KHDFFRPSDQ\LQJQRWHVIRUPSDUWRIWKHVHILQDQFLDOVWDWHPHQWV ϭϬ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 6WDWHPHQWRI&KDQJHVLQ(TXLW\ )RUWKH\HDU(QGHG-XQH 5HWDLQHG 7RWDO (DUQLQJV (TXLW\ %DODQFHDVDW-XO\ 7RWDOVXUSOXVIRUWKH\HDU $GMXVWPHQWLQLQLWLDODSSOLFDWLRQRI$$6% %DODQFHDVDW-XQH %DODQFHDVDW-XO\ 7RWDOVXUSOXVIRUWKH\HDU %DODQFHDVDW-XQH 7KHDFFRPSDQ\LQJQRWHVIRUPSDUWRIWKHVHILQDQFLDOVWDWHPHQWV ϭϭ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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ϭϮ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH ϭϯ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH 7KHLPSDFWRIWKHQHZ$FFRXQWLQJ6WDQGDUGVFRPSDUHGZLWKWKHSUHYLRXV$FFRXQWLQJ6WDQGDUGVRQWKHFXUUHQWUHSRUWLQJ SHULRGLVDVIROORZV 1HZ 3UHYLRXV 'LIIHUHQFH &RQWUDFWDVVHW &RQWUDFWOLDELOLWLHV 1HWDVVHWV %DVLVRI3UHSDUDWLRQ 7KH ILQDQFLDO VWDWHPHQWV DUH JHQHUDO SXUSRVH ILQDQFLDO VWDWHPHQWV WKDW KDYH EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK WKH $XVWUDOLDQ $FFRXQWLQJ 6WDQGDUGV 5HGXFHG 'LVFORVXUH 5HTXLUHPHQWV DQG ,QWHUSUHWDWLRQV LVVXHG E\ WKH $XVWUDOLDQ $FFRXQWLQJ6WDQGDUGV%RDUG µ$$6%¶ DQGWKHCorporations Act 2001 Historical cost convention 7KHILQDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXQGHUWKHKLVWRULFDOFRVWFRQYHQWLRQ Critical accounting estimates 7KH SUHSDUDWLRQ RI WKH ILQDQFLDO VWDWHPHQWV UHTXLUHV WKH XVH RI FHUWDLQ FULWLFDO DFFRXQWLQJ HVWLPDWHV ,W DOVR UHTXLUHV PDQDJHPHQWWRH[HUFLVHLWVMXGJHPHQWLQWKHSURFHVVRIDSSO\LQJWKH&RPSDQ\ VDFFRXQWLQJSROLFLHV7KHDUHDVLQYROYLQJ DKLJKHUGHJUHHRIMXGJHPHQWRUFRPSOH[LW\RUDUHDVZKHUHDVVXPSWLRQVDQGHVWLPDWHVDUHVLJQLILFDQWWRWKHILQDQFLDO VWDWHPHQWVDUHGLVFORVHGLQQRWH Comparative amounts &RPSDUDWLYHVDUHFRQVLVWHQWZLWKSULRU\HDUVXQOHVVRWKHUZLVHVWDWHG 5HYHQXHUHFRJQLWLRQ 7KH&RPSDQ\UHFRJQLVHVUHYHQXHDVIROORZV ZĞǀĞŶƵĞĨƌŽŵĐŽŶƚƌĂĐƚƐǁŝƚŚĐƵƐƚŽŵĞƌƐ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ĞĨĞŶĐĞƉĂLJŵĞŶƚƐŝŶĐŽŵĞ 7KH&RPSDQ\DFWVIRUDOOSULYDWHDLUILHOGRZQHUVWRDGPLQLVWHUWKHGLVWULEXWLRQRIWKH'HSDUWPHQWRI'HIHQFHSD\PHQWV7KH &RPSDQ\LVUHVSRQVLEOHIRUPRQWKO\FRQVROLGDWLRQRIWKHGHSDUWPHQW VODQGLQJGDWD,WLVDOVRUHVSRQVLEOHIRUPDNLQJFODLPV DJDLQVWWKH'HSDUWPHQWDQGGLVEXUVHVSD\PHQWVWRWKHUHVSHFWLYHDLUSRUWV7KH&RPSDQ\FKDUJHVDQDPRXQWRIDGPLQ IHHVWRWKHUHVSHFWLYHDLUSRUWVIRUWKLVVHUYLFH DĞŵďĞƌƐŚŝƉƐ 5HYHQXHIURPWKHSURYLVLRQRIPHPEHUVKLSIHHVLVUHFRJQLVHGRQDVWUDLJKWOLQHEDVLVRYHUWKHILQDQFLDO\HDU0HPEHUVKLS IHHVUHFHLYHGUHODWHGWRWKHIROORZLQJILQDQFLDO\HDULVUHFRUGHGDVLQFRPHLQDGYDQFHDWEDODQFHGDWH ŽŶĨĞƌĞŶĐĞŝŶĐŽŵĞ ,QFRPHUHFHLYHGIRUFRQIHUHQFHLVUHFRJQLVHGZKHQWKHULJKWWRUHFHLYHSD\PHQWLVHVWDEOLVKHG,QFRPHUHFHLYHGIRUWKH 1DWLRQDO&RQIHUHQFHDQGRWKHUHYHQWVWREHKHOGLQWKH ILQDQFLDO\HDUDUHUHFRJQLVHGDVLQFRPHLQDGYDQFH DWEDODQFHGDWH ϭϰ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH ϭϱ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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mpairment of property, plant, and equipment 7KH&RPSDQ\DVVHVVHVLPSDLUPHQWDWWKHHQGRIHDFKUHSRUWLQJSHULRGE\HYDOXDWLQJFRQGLWLRQVVSHFLILFWRWKH&RPSDQ\ WKDWPD\EHLQGLFDWLYHRILPSDLUPHQWWULJJHUV5HFRYHUDEOHDPRXQWVRIUHOHYDQWDVVHWVDUHUHDVVHVVHGXVLQJYDOXHLQ XVHFDOFXODWLRQVZKLFKLQFRUSRUDWHYDULRXVNH\DVVXPSWLRQV Estimation of useful lives of assets 7KH&RPSDQ\GHWHUPLQHVWKHHVWLPDWHGXVHIXOOLYHVDQGUHODWHGGHSUHFLDWLRQDQGDPRUWLVDWLRQFKDUJHVIRULWVSURSHUW\ SODQWDQGHTXLSPHQW7KHXVHIXOOLYHVFRXOGFKDQJHVLJQLILFDQWO\DVDUHVXOWRIWHFKQLFDOLQQRYDWLRQVRUVRPHRWKHUHYHQW 7KHGHSUHFLDWLRQDQGDPRUWLVDWLRQFKDUJHZLOOLQFUHDVHZKHUHWKHXVHIXOOLYHVDUHOHVVWKDQSUHYLRXVO\HVWLPDWHGOLYHVRU WHFKQLFDOO\REVROHWHRUQRQVWUDWHJLFDVVHWVWKDWKDYHEHHQDEDQGRQHGRUVROGZLOOEHZULWWHQRIIRUZULWWHQGRZQ ϭϲ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH 7UDGHDQGRWKHUUHFHLYDEOHV 7UDGHUHFHLYDEOHV 2WKHUGHEWRUV ϭϳ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH ϭϴ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV )RUWKH 7RWDORWKHUOLDELOLWLHV (PSOR\HHEHQHILWV &855(17 3URYLVLRQIRUDQQXDOOHDYH 3URYLVLRQIRUORQJVHUYLFHOHDYH 7RWDOHPSOR\HHEHQHILWV 121&855(17 3URYLVLRQIRUORQJVHUYLFHOHDYH 7RWDOHPSOR\HHEHQHILWV /HDVHOLDELOLWLHV &855(17 /HDVHOLDELOLW\ 121&855(17 /HDVHOLDELOLW\ ϭϵ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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ϮϬ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ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¶VRSHUDWLRQVWKHUHVXOWVRIWKRVHRSHUDWLRQVRUWKH&RPSDQ\¶VVWDWHRIDIIDLUVLQIXWXUHILQDQFLDO\HDUV &RPSDQ\'HWDLOV 7KHUHJLVWHUHGRIILFHRIWKH&RPSDQ\LV &&URZH /HYHO:HQWZRUWK$YHQXH .,1*6721$&7 Ϯϭ ͮWĂŐĞ ƵƐƚƌĂůŝĂŶŝƌƉŽƌƚƐƐƐŽĐŝĂƚŝŽŶ>ŝŵŝƚĞĚ E͗ϴϵϬϬϴϲϰϳϯϯϲ &ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌĞŶĚĞĚϯϬ:ƵŶĞϮϬϮϬ 'LUHFWRUV 'HFODUDWLRQ 7KHGLUHFWRUVRIWKH&RPSDQ\GHFODUHWKDW 7KHILQDQFLDOVWDWHPHQWVDQGQRWHVDVVHWRXWRQSDJHV WRDUHLQDFFRUGDQFHZLWKWKHCorporations Act 2001 DQG D FRPSO\ZLWK$FFRXQWLQJ6WDQGDUGV5HGXFHG'LVFORVXUH5HTXLUHPHQWV DQG E JLYHDWUXHDQGIDLUYLHZRIWKHILQDQFLDOSRVLWLRQDVDW-XQHDQGRIWKHSHUIRUPDQFHIRUWKH\HDUHQGHG RQWKDWGDWHRIWKH&RPSDQ\ ,QWKHGLUHFWRUV RSLQLRQWKHUHDUHUHDVRQDEOHJURXQGVWREHOLHYHWKDWWKH&RPSDQ\ZLOOEHDEOHWRSD\LWVGHEWVDV DQGZKHQWKH\EHFRPHGXHDQGSD\DEOH 7KLVGHFODUDWLRQLVPDGHLQDFFRUGDQFHZLWKDUHVROXWLRQRIWKH%RDUGRI'LUHFWRUV 'LUHFWRU 'LUHFWRU 7KRPDV*DQOH\ 1DWLRQDO&KDLU 1RUULV&DUWHU 0DMRU$LUSRUW'LUHFWRU 'DWH 6HSWHPEHU ϮϮͮWĂŐĞ Crowe Canberra ABN 62 864 928 439 Audit and Assurance Services Level 1 55 Wentworth Avenue Kingston ACT 2604 Australia Locked Bag 3 Kingston ACT 2604 Australia Tel 02 6260 4545 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF Fax 02 6260 4646 AUSTRALIAN AIRPORTS ASSOCIATION LIMITED www.crowe.com.au Opinion We have audited the financial report of Australian Airports Association Limited (the Entity), which comprises the balance sheet as at 30 June 2020, and the income statement, statement of changes in equity and cash flow statement for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the declaration by those charged with governance. In our opinion, the accompanying financial report of the Entity is prepared, in all material respects, in accordance with Corporations Act 2001. (a) giving a true and fair view of the registered entity’s financial position as at 30 June 2020 and of its financial performance for the year ended that date; and (b) complying with Australian Accounting Standards – Reduced Disclosure Requirements and Corporation Regulations 2001. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Entity in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Information Those charged with governance are responsible for the other information. The other information comprises the information included in the Entity’s annual report for the year ended 30 June 2020 but does not include the financial report and our auditor’s report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. Liability limited by a scheme approved under Professional Standards Legislation. The title ‘Partner’ conveys that the person is a senior member within their respective division, and is among the group of persons who hold an equity interest (shareholder) in its parent entity, Findex Group Limited. The only professional service offering which is conducted by a partnership is the Crowe Australasia external audit division. All other professional services offered by Findex Group Limited are conducted by a privately owned organisation and/or its subsidiaries. Findex (Aust) Pty Ltd, trading as Crowe Australasia is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent legal entity. Findex (Aust) Pty Ltd and its affiliates are not responsible or liable for any acts or omissions of Crowe Global or any other member of Crowe Global. Crowe Global does not render any professional services and does not have an ownership or partnership interest in Findex (Aust) Pty Ltd. Services are provided by Crowe Canberra, an affiliate of Findex (Aust) Pty Ltd. © 2019 Findex (Aust) Pty Ltd 23 l Page In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management and Those Charged with Governance for the Financial Report Management is responsible for the preparation of the financial report in accordance with Australian Accounting Standards – (Reduced Disclosure Requirement) and Corporations Act 2001 and for such internal control as management determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. In preparing the financial report, management is responsible for assessing the Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report. As part of an audit in accordance with Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the registered entity’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by responsible entities. • Conclude on the appropriateness of the responsible entity’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the registered entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the registered entity to cease to continue as a going concern. 24 l Page • Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. CROWE CANBERRA Gabriel Faponle Audit Partner Registered Company Auditor No: 513644 Dated: 17th day of September 2020 25 l Page AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE E CHAIR’S REPORT Chair’s Report When I began my term as Chair of the AAA Board, I never imagined I’d be faced with the biggest crisis to rattle our industry since the Second World War. During the peak of the national lockdown, we saw many airports lose 100 per cent of their passengers, some of you made the decision to close during certain hours or on particular days and others have continued to operate on wafer thin staffing levels and run at outrageous losses. It’s been difficult for each and every one of us to try and weather this storm, but we are tough, we are resilient, and we will reach the other side of this crisis. I can’t tell you what position our sector will be in this time next year but what I do know is that the AAA is more focused than ever on the issues which are front of mind for our members. Through all of this we have continued to be a strong, united and at times, loud voice for Australia’s airports, led by our new CEO James Goodwin. The board appointed James to the role in March and he officially came on board in June bringing with him profound experience in public policy, advocacy and stakeholder engagement. James has a compelling vision for our future and has executed a range of effective strategies to help guide our industry towards the other side of this crisis while keeping our members at the heart of everything he does. This year the AAA was pleased to welcome incoming Board members Lorie Argus, Kym Meys, Matt Cocker, Paul Watson and Nat Thomas (re-elected as the representative for airport members with less than 49,999 passengers). I would also like to thank outgoing Board members Paul Hodgen, Katie Cooper, Stephen Carson and Howard Aspey for their important contribution to the AAA. Their time, efforts and advocacy were greatly appreciated, and I wish them all the best on their future endeavours. In addition, I would also like to acknowledge Guy Thompson, Immediate Past Chair whose term ends as of this AGM. Guy has been on the AAA Board since 2005 and Chair since 2015. His leadership and the time he has given the AAA over the years has been greatly appreciated and invaluable. He will be truly missed. If it was a “normal year” I would have been delivering this report to you at the National Conference, but you all know there is nothing normal about this year at all. The Board made the difficult decision to cancel National Conference 2020 due to uncertainty around the pandemic and border closures. We’re delighted the AAA team has instead delivered a Virtual Conference to keep us all connected and get us excited for next year’s event in Sydney. During 2020 the AAA has continued to grow and evolve to meet the needs of our members in this constantly environment. We have worked hard to be your voice on issues of importance to our industry. In 2019-20 we booked a profit of $395,904. But it’s amazing how quickly things can change. We are now drawing on reserves to stay afloat but of course, that’s what reserves are for. It’s because of good past economic management that we find ourselves in this promising position. Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE E CHAIR’S REPORT Despite the challenges of 2020, I’m pleased we have been able to retain almost all of our airport members and most of our corporate members. During this trying time for our industry, the role of the Association has never been more important. The AAA is continuing to provide valuable services, information and benefits to our members including free online education which was valued at more than $430,000. In the year 2019-20, the AAA processed more than $1.8 million in Defence landings across our member airports. This is a staggering number given 2020 was the year of COVID. To meet the key challenges and issues our sector will face over the next five years, the AAA Board will continue to be guided by four strategic pillars which our members have confirmed are strongly aligned to their needs and expectations. These four focus areas include advocacy, member services, industry development and people and processes. Below is a snapshot of our busy agenda over the past year. COVID-19 Australia’s airport sector was one of the first hit by the COVID-19 pandemic and will be one of the last to recover. During this time, the role of the AAA was more important than ever. We acted swiftly, lobbying the Australian Government for financial support for our sector to help airports deal with the sudden and dramatic fall in passenger demand caused by border closures and travel restrictions. We kept our members up to date with the most recent information available in relation to the spread of the virus, lockdowns, the latest health advice and roles of the state authorities and police through regular website updates and member messages. The AAA and representatives from our major and regional airports were part of weekly industry teleconferences with the Department of Home Affairs to receive updates on COVID-19 measures and aviation security through the pandemic. We worked hard to receive federal funding to support our sector including JobKeeper and rebates for domestic security screening. Advocacy and policy development In addition to fighting for government COVID-19 support, the AAA also advocated for better outcomes on the issues which were front and centre prior to the pandemic. We worked closely with our regional and major airport members, as well as key industry stakeholders to ensure our sector remains in the best possible position to negotiate changing passenger demand and evolving travel environments. Australian Government grant programs Thanks to strong AAA advocacy, there are a range of Australian Government grant programs in place for our regional airports to apply for funding. We were proud to see 60 regional airports share in $41.2 million in funding to upgrade essential infrastructure as part of the Regional Airports Program. This program was developed following the AAA’s two-year campaign to increase the attention of policy makers on the need for infrastructure upgrades at regional airports. Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE E CHAIR’S REPORT Other programs benefitting our sector include the Remote Airstrip Upgrade Program, the Building Better Regions Fund, Regional Airport Security Screening Fund and the Regional Aviation Security Infrastructure Program. These programs will help regional airports deliver projects which create long-term benefits, so communities can continue to connect to work, essential services, family and friends no matter where they live. Manual of Standards (MOS) Part 139 The AAA has worked closely with members to ensure they are ready to implement the new CASA safety requirements before coming into effect in August 2020. The AAA and industry spent more than four years working collaboratively with CASA to provide input into the review and drafting processes for the updated Manual of Standards Part 139, as well as keeping members actively informed and supported during the transition phase. The AAA and its members have shown outstanding leadership to create and facilitate working groups to inform CASA’s key decision makers, hosted a joint Safety Forum with CASA and successfully advocated for an extension to support its members through the current COVID-19 pandemic. This has been a very detailed process and will play an important part in further building the professionalism of our industry. As part of the changes, the AAA developed new Airport Practice Notes (APN) in line with the MOS Part 139 changes to assist members with the day to day operations of their airports. Submissions In 2019-20, the AAA made 16 submissions to government to advocate on behalf of the airport industry. These included: • ACCC x 3 • Parliamentary inquiry x 2 • EPBC Act Review • AirServices Australia flightpaths consultation • Aircraft Noise Ombudsman • ATSB Regulatory Review • DITRDC x 4 (Aircraft Noise Regs, NASF Guidelines) • Home Affairs x 4 (Regional Airport Screening, PLAGS, IPOG, Screened/unscreened pax) • SA Government +1 (State Infrastructure Plan) Committees, Working Groups and Networking Groups The AAA continues to operate its committees, working and networking groups. These groups not only provide an excellent source of information and expertise for the AAA to draw on, but they are also a valuable mechanism for the industry to share knowledge and experiences. The existing working group structure is as follows: • Major Airport CEO Forum • Major Airport Corporate Affairs Committee • Major Airport Operations Committee • Major Airport Security Committee Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE E CHAIR’S REPORT • Regional Airport Security Committee • Planning Committee • Major Airport Passenger Facilitation Committee • Small Reginal Airport Networking Group • Aerodrome Operations Safety Networking Group • Environment Working Group • Wildlife Hazard Management Networking Group • Pavements Technical Working Group • Aeronautical Ground Lighting Technical Working Group • Women in Airports Committee • Young Airport Professionals Committee Thank you to all our members who participate in these groups – your contribution helps us continue to improve our industry as a whole and is greatly appreciated by all of us at the AAA. Events The AAA delivered another strong events program in 2019-20, despite having to switch to online platforms when COVID-19 hit. Division Meetings Our division meetings continue to provide important opportunities for members to connect with their peers and hear about the latest developments in their state or territory. Our first round of 2019-20 meetings were held face-to-face in a number of capital city and regional locations and included representatives from CASA and Airservices. Due to travel and social distancing requirements in 2020, the State Division Meetings were moved to online platforms. These interactive webinars were critical in keeping our members connected and provided them with additional opportunities to discuss the latest issues facing the industry, particularly those which were born from the pandemic. Thank you to those who took the time to contribute to our division meetings, either as presenters or participants. Airport Safety Week (ASW) – 14-18 October 2019 Thousands of airport employees at more than 150 airports and aerodromes across Australia and New Zealand took part in Airport Safety Week 2019. Airports hosted a range of events based on the daily themes of human factors in safety, promoting a just safety culture, foreign object debris (FOD), wellness in the workplace and safety management systems. Participants looked at how a wide range of roles contribute to safety, including biosecurity, customs and aerodrome reporting officers. There were also organised tours of the airfield, air traffic control towers and aviation rescue firefighting stations. These activities help employees learn more about critical safety operations beyond their everyday work. Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE E CHAIR’S REPORT AAA National Conference – 19-22 November 2019 The 2019 AAA National Conference exceeded expectations yet again with more than 800 delegates from airports and aerodromes across the country descending on the Gold Coast. They enjoyed a week of speaker and panel sessions, networking events and the AAA National Airport Industry Awards where Deputy Prime Minister Michael McCormack delivered a keynote address. Session highlights included insights into the latest developments in the airport industry from new technology and technical innovation to projects which improve the passenger experience and ensure the sustainable operation of our airports. While we were disappointed to cancel this year’s face-to-face conference due to COVID-19, we’re excited it’s being hosted online over the four weeks of November and are hopeful of seeing everyone in person for next year’s event which is currently being planned to take place in Sydney from 15 to 18 November 2021. Preparing for a strong future for our industry The AAA is aware of the pressures our members are facing and the need to provide them flexibility, as well as valuable services, information and now more than ever, a strong and united industry voice. Aviation is critical to the continued success of Australia’s economy supporting more than 200,000 jobs and prior to the pandemic contributed $35 billion – around two per cent – to the nation’s GDP. We will continue to be out on the front foot, raising our voice to government and profile in the media, ensuring those in Parliament House know who we are, what we do, the state of the sector and what support is required from government to ensure airports are able to continue to operate as an essential service for the communities which rely on them. Australian aviation has a bright future and as airports, we will look to the skies and work with government on a plan to re-open the borders and restart air travel and tourism to get the economy moving again. I would like to thank the AAA staff for their hard work and dedication during this unprecedented year. They have enabled us to achieve the best possible outcomes for our industry and the communities we are proud to serve. It is truly amazing what a small but dedicated team of people can achieve. Sincerely, Tom Ganley Chair 5 November 2020 Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE F BOARD APPOINTMENTS AAA State Division Directors: The following state division officeholders were duly re-elected at their respective state division AGM’s held prior to the AAA National AGM or have already been duly elected to positions for a two (2) year term. Pursuant to the constitution, these state division office-bearers also hold positions at a national level, on the AAA board. New South Wales, Western Australian, Australian Capital Territory and Northern Territory State Division Board Representatives State Position Name Title and Organisation NSW Director Julie Stewart Airport Manager, Ballina Shire Council NSW Alternate Ben Howard Director Works and Services, Parkes Shire Council WA Director Jenny Kox Systems and Standards Manager – Terminals, Perth Airport WA Alternate Amol Virkar Airport Manager, City of Karratha ACT Director TBC ACT Alternate Noel McCann Director Planning, Canberra Airport NT Director Dave Batic Airport Manager, Alice Springs Airport NT Alternate Brendon Stewart Senior Airport Operations Manager, Gove Airport, Nhulunbuy Corporation Queensland, Tasmania, Victoria & South Australia State Division Board Representatives State Position Name Title and Organisation Qld Director Paul Watson General Manager, Civil Services and Operations, Hamilton Island, Great Barrier Reef Qld Alternate Frank Mondello General Manager Operations and Assets, Sunshine Coast Airport Tas Director Mathew Cocker Acting CEO and Chief Operating Officer, Hobart Airport Tas Alternate Rod Sullivan Operations and Technical Advisor, Burnie Airport Vic Director Lorie Argus Chief of Landslide Access, Utilities & Facilities Group, Melbourne Airport Vic Alternate Daniel Gall Coordinator Commercial Property, Wellington Shire Council SA Director Kym Meys Executive General Manager – Planning and Infrastructure, Adelaide Airport SA Alternate Peter O’Rielly Manager of Airport Operations, District Council of Lower Eyre Peninsula Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE F BOARD APPOINTMENTS AAA Sector-Specific Directors Major Airports Name Title and Organisation Norris Carter CEO, North Queensland Airports Pty Ltd Large Regional Airports Name Title and Organisation Garry Porter Airport Manager, Mackay Airport Representing those airport members with less than 49,999 passengers Name Title and Organisation Nat Thomas Airport Manager, Halls Creek Aerodrome Chair: Name Title and Organisation Tom Ganley CFO and Company Secretary, Northern Territory Airports Pty Ltd Deputy Chair: The Deputy Chair will be elected at the AAA Board Meeting to be held on 9 December 2020. Changes to the Board during 2019-2020 The following board directors and alternates have departed the board over the year, or will depart the board effective this AGM: State or Position Name Title and Organisation Ceased Notes Territory Appointment Tas Director Paul Former General Manager, April 2020 Stepped down as Hodgen Launceston Airport Director Qld Alternate Kate Former Chief Operations Officer, June 2020 Stepped down as McCreery-Cairns Airport alternate Carr Vic Director Katie Former Head of Transformation July 2020 Stepped down as Cooper (T1), Aviation, Director Melbourne Airport ACT Director Stephen Chief Financial Officer, September Stepped down as Carson Canberra Airport 2020 Director SA Director Howard Manager – Airport, November End of term Aspey Whyalla Airport 2020 Immediate Guy November End of term Past Chair Thompson 2020 Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE G PROXY FORM Australian Airports Association Limited ACN 008 647 336 (Company) Proxy Form Appointment of Proxy I/We insert name of member of insert address of member being a member/s of the Company and entitled to attend and vote hereby appoint the Chairperson If you are not appointing the of the Meeting Chairperson of the Meeting, write (mark with an 'X') OR the name of the person or body corporate you are appointing as your proxy or failing the person / body corporate named, or if no person / body corporate is named, the Chairperson of the Meeting, as my/our proxy to attend, to vote in accordance with the following directions (or if no directions have been given, as the proxy sees fit), and to act generally on my/our behalf, at the Annual General Meeting of the Company to be held via videoconference, on 25 November 2020 at 1.00pm – 1.30pm (AEDT)) and at any adjournment of that meeting. Voting directions to your proxy - please mark X to indicate your directions Ordinary Business For Against Abstain * To receive and confirm the minutes of the Annual General Meeting held on 20 November 2019. To receive and consider the following: a) Financial statements and accompanying notes thereof for the financial year of the Company ending on 30 June 2020; b) Director's report for the financial year of the Company ending on 30 June 2020; and c) Auditor's report on the financial report for the financial year of the Company ending on 30 June 2020. Special Business For Against Abstain * Special Resolution 2: Appointment of Auditors To consider and, if thought fit, pass the following resolution as a special resolution: "THAT Crowe Horwath, Central West be engaged as the Australian Airports Association auditors for a further one year. * If you mark the Abstain box for a particular item, you are directing your proxy not to vote on your behalf on a show of hands or on a poll and, or if your voting entitlement cannot be voted by your proxy, your votes will not be counted in computing the required majority on a poll. Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336 AAA ANNUAL GENERAL MEETING 2020 - ANNEXURE G PROXY FORM Signature of Member This section must be signed in accordance with the instructions overleaf to enable your directions to be implemented. Signed, sealed and delivered by ______in the presence of: Signature of witness Signature Full name of witness Instructions for Completion of Proxy Form 1. Appointment of Proxy If you wish to appoint the Chairperson of the Meeting as your proxy, mark the box. If the person or body corporate you wish to appoint as your proxy is someone other than the Chairperson of the Meeting, write the name of that person / body corporate. If you appoint a body corporate as your proxy, that body corporate will need to ensure that it appoints an individual as its corporate representative to exercise its powers at meetings, in accordance with section 250D of the Corporations Act, 2001 (Cth) and provide satisfactory evidence of the appointment of its corporate representative. If you leave this section blank or your named proxy does not attend the Meeting, the Chairperson of the Meeting will be your proxy. A proxy need not be a member of Australian Airports Association Limited (Company). 2. Voting directions to your Proxy You may direct your proxy how to vote on an item of business by placing a mark in one of the three boxes opposite that item of business. If you do not mark any of the boxes on a given item, your proxy may decide whether or how to vote on that item. If you mark more than one box on an item, your vote on that item will be invalid. 3. Signature of Members You must sign this form as follows in the spaces provided: Individual the member must sign. Power of to sign under Power of Attorney, either the Power of Attorney must have already Attorney been lodged with the Company's Share Registry for notation or the original (or a certified copy) of the Power of Attorney must accompany this document. Companies the representative of the Company nominated pursuant to article 4.13 of the Company Constitution must sign. 4. Lodgement of Proxy This proxy form (and the original or a certified copy of any power of attorney under which it is signed) must be received by the Company not later than 1 hour prior to the scheduled start of the meeting on 25 November 2020. Any proxy form received after that time will not be valid for the scheduled meeting. Documents may be lodged: (a) by post or in person to the Company at Level 1, 55 Blackall Street, Barton ACT 2600; or (b) by email to [email protected] Level 1, 55 Blackall Street Barton ACT 2600 T +61 2 6230 1110 I E [email protected] www.airports.asn.au ABN 89 008 647 336