Our integrated reporting process has been elevated over the last six years through the inclusion of quarterly CEO reports presented to the Board of directors. This management approach embeds the process of managing, measuring and reporting on our business, our people and society, as well as the context of environmental concerns, in line with our Sustainability Framework.

Forward-looking statements

The forward-looking statements in this report, or oral statements that may be made by officers or directors, prescribed officers or employees acting on the Group’s behalf, constitute or are based on various or certain assumptions which may change or be subject to revision. These statements involve risk and uncertainty, as they relate to events or circumstances that may or may not occur. Factors which could cause actual future results to differ materially from those in the forward-looking statements include, but are not limited to:

• Global and domestic economic conditions
• The nature of the aviation sector and specifically the performance of airline operators
• Changes in passenger profiles and choices
• Retail offerings at our airports
• Interest rates
• Credit and associated risks of borrowing and funding
• Rating agencies’ statements and determinations
• Gross and operating margins
• Capital management
• Competitive and economic regulatory factors

Airports Company South Africa does not undertake to update or otherwise revise any of these forward-looking statements publicly, whether in reflecting on new information or future events or otherwise. The forward-looking statements have not been reviewed or reported on by the Group’s external auditor.

Board approval

The Board acknowledges responsibility for overseeing the integrity and completeness of this IAR and exercises this responsibility with the support of various sub-committees. The Board approved the reporting frameworks and materiality determination process applied in the report. The Board confirms that, after applying its collective mind to the preparation and presentation of the IAR and reviewing the content herein, it considers this report to be accurate, reliable and complete in presenting information and material matters. The Board concludes that this report is presented as per the Framework and approved the FY2018/19 IAR on 27 August 2019.