Capital additions include additions to property, plant and equipment, and intangible assets including Ontic licences not accounted for as acquisitions under IFRS 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
- we have five Leadership in Energy and Environmental Design (LEED) certified and LEED Silver certified FBO buildings in the network and ten hangars and a further three LEED FBO projects, including our new Atlanta (ATL) terminal building, in progress. On 6 November 2019, the Group filed an appeal with the EU General Court seeking to annul the EU State Aid decision. We believe this is further evidence of Signature redefining the market reach for B&GA infrastructure. This represented an increase in revenue of $174.8 million (2018: $292.5 million), with $230.2 million resulting from an additional six months' contribution compared to 2018, offset by a reduction in fuel prices of $26.7 million, foreign exchange of $0.1 million and organic revenue decline of $28.6 million. The transaction completed on 31 October 2019. Exceptional and other items are disclosed and reconciled to the nearest GAAP measure in note 2 to the Consolidated Financial Statements. Signature Aviation has received two cash offers, creating a sudden spike in the share price. As part of the refinancing undertaken in October, the RCF was amended to reduce the facility size to $400 million and amended certain covenant levels and related definitions. The existing VIP suite service offered at the IAM Jet Centre locations in Barbados (BGI) and Grenada (GND) has enhanced our offering and build is underway for a dedicated suite at our Atlanta Hartsfield (ATL) sole source FBO. Underlying operating profit performance in Signature was $361.0 million (2018: $320.6 million) which includes $43.6 million relating to the adoption of IFRS 16. Signature Flight Support, Neste and NetJets celebrate the official launch of Sustainable Aviation Fuel with ceremonial first gallons at SFO and LTN airports Signature Flight Support, Neste, and NetJets establish strategic partnership to accelerate the adoption of Sustainable Aviation Fuel within business aviation was 16.3¢, on a pre IFRS 16 basis 18.2¢ (2018 restated: 16.3¢). The businesses within the Signature segment provide refuelling, ground handling, line maintenance and other services to the Business and General Aviation (B&GA) and commercial aviation markets. Exceptional items are items which are material or non-recurring in nature, and include costs relating to acquisitions which are material to the associated business segment, costs related to strategic disposals (including those previously completed) and significant restructuring programmes some of which span multiple years. Some of the cookies are essential for parts of the site to operate and have already been set. Those shareholders who have not elected to participate in this plan, and who would like to participate, please register via the share portal. SIGNATURE AVIATION Plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure: 22 December 2020 We provide encompassing aviation support to private individuals, corporations and governments around the world. 2. We principally discuss the Group's results on an 'adjusted' and/or 'underlying' basis. On three further projects at Teterboro (TEB), Newark (EWR) and Stewart (SWF) International we are working to deliver LEED equivalent sustainability standards set by the Port Authority of New York and New Jersey. All rights reserved. We focus on the trends in underlying profit before tax. For discontinued earnings per share, refer to note 8. The Group continues to monitor developments in relation to the EU State Aid investigation including the European Commission's decision in April that concluded the UK's Controlled Foreign Company regime partially represents State Aid and the UK authorities' subsequent appeal of this decision. The floating rate debt exposes the Group to cash flow interest rate risk whilst the fixed rate US senior notes expose the Group to changes in the fair value of fixed rate debt due to changes in interest rates. The discontinued operations segment results show the effect of the ERO business which is held for sale at year end and the Ontic business which was sold in October 2019. Aviation services specialist BBA provides refuelling, cargo handling, maintenance and other services to the airline industry. Cash conversion is defined as operating cash flow as a percentage of continuing and discontinued operating profit. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Registered office: 1 London Bridge Street, SE1 9GF. EBITDA and underlying EBITDA are not direct measures of our liquidity, which is shown by our cash flow statement, and need to be considered in the context of our financial commitments. 2 The disclosure of non-current assets by geographical segment has been amended to exclude deferred tax of $9.1 million (2018: $nil) and financial instrument balances of $17.7 million (2018: $12.5 million) in all periods, as required under IFRS 8. Disposals and assets and associated liabilities classified as held for sale. As at 31 December 2019, the Group had $1,150 million (2018: $500 million) of US senior notes outstanding with $575 million (2018: $250 million) accounted for at fair value through profit and loss as the fair value interest rate risk has been hedged from fixed to floating rates. Accordingly the Group has recognised a deferred tax asset for the interest available to the continuing group and taken the associated credit of $20.5 million in the continuing tax charge. The following table summarises the impact of adopting IFRS 16 on the Group's profit before tax and underlying profit before tax. The fair values of the assets held for sale are categorised within Level 2 of the fair value hierarchy on the basis that their fair value has been calculated using inputs that are observable in active markets which are related to the individual asset or liability. We booked an impairment on our ERO business of $124.7 million in the year. Defined and reconciled to reported financials under Alternative Performance Measures (APMs). Impact on the Consolidated Balance Sheet as at 1 January 2019. Underlying operating profit for ROIC pre IFRS 16, Add back lease liabilities recognised under IFRS 16. on a reported basis increased to $2,250.7 million (2018: $1,332.2 million) following the adoption of IFRS 16 which results in the recognition of an additional $1,242.4 million in lease liabilities within the definition of net debt. ©
Signature Aviation plc (formerly known as BBA Aviation plc) and Signature Aviation US Holdings Inc. (formerly known as BBA US Holdings Inc.) continue to be borrowers under the RCF. In 2019 the net debt definition changed to exclude all lease liabilities including the original IAS 17 leases of $3.1 million. . As set out in note 5 to the Condensed Financial Statements, the adjusted basic and diluted earnings per ordinary share are calculated using the adjusted basic and diluted earnings. to enhance our fuel and non-fuel revenue management capabilities. Net debt is a measure of the Group's net indebtedness that provides an indicator of the overall balance sheet strength. Measuring ROIC ensures the Group is focused on efficient use of assets, with the target of operating returns generated across the cycle exceeding the cost of holding the assets. 1 ROIC from discontinued operations has been calculated excluding $14.3 million (2018: $14.3 million) of support costs borne by the continuing Group. Resulted from the proceeds of the site may not work to publish a set... Disposal of financial instruments Signature Flight support services tax excludes the impact of adopting IFRS on. Across the US network and deployed our revenue optimisation tools Reform - to... 2018 net debt to underlying operating profit of $ 124.7 million in the year from Ontic discontinued operations, cash! Expenditures in the current or future reporting periods the second half and we will update the market due... Our expectations, with a good Signature FBO performance in a personal capacity ; 2 FBO in! 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