The sky is not the limit.
ANNUAL REPORT 2007
During 2007, Aeroplan’s business performed well, generating sound financial returns, and giving us the flexibility to pursue strategic opportunities to realize our business objectives and to capture maximum value for you, our unitholders. The sky is not the limit.
from a successful year
As at and for the years ended December 31 (in millions except per unit amounts)
Limited Partnership Statement of Operations Total Revenue Operating Income Net Earnings Earnings Per Unit Income Fund Financial Position Total Assets Total Long-Term Debt Cash and Cash Equivalents Short-Term Investments Limited Partnership Other Selected Information Gross Billings Adjusted EBITDA Distributable Cash Distributable Cash Per Unit Standardized Distributable Cash Standardized Distributable Cash Per Unit $ 952.2 252.1 245.7 1 .29 29 1 .9 1 .54 $ 85 1 .9 2 1 6.4 1 99.4 1 .00 299.0 1 .50 $ 6,1 1 8.3 734.7 456.0 1 23.4 $ 1 ,382.6 32 $ 906.4 1 89.7 1 97.6 0.9905 $ 769.4 1 40.5 1 43.5 0.7 1 87
On behalf of the Board of Directors
and Board of Trustees, I am pleased to report that 2007 was a watershed year for Aeroplan in our evolution towards becoming the industry leader in global loyalty management. During 2007, our business performed well, generating sound financial returns, and giving us the flexibility to pursue strategic opportunities to realize our business objectives and to capture maximum value for you, our unitholders. Among our achievements for the year, the most notable was Aeroplan’s acquisition of Loyalty
Board and to our business, we will continue to assess its size and composition. Aeroplan’s Board is committed to a comprehensive corporate governance program consisting of mandates, policies and committees designed to foster the key ethical values of honesty, transparency and integrity. It is responsible for monitoring the organization’s ongoing strategic planning and assessing results to ensure that the stated goals are achieved. The Board is also responsible for overseeing Aeroplan’s business by providing responsible and effective stewardship of its assets. The Board regularly meets with management to receive business updates, and also holds meetings without management present. At Aeroplan, sound corporate governance is the foundation for building investor confidence and increasing unitholder value. As the business evolves we will continue to strive for excellence in our corporate governance. Aeroplan delivered solid results and reached a significant milestone in its strategic growth in 2007. For these achievements, I would like to thank management and employees for their dedication and efforts for delivering unrivalled service to our members and partners, for creating solid value for unitholders and for their contribution to Aeroplan’s success. On behalf of the Board, it is our privilege to move forward with the company and we will continue to work on your behalf to ensure your best interests are firmly in mind at all times.
Management Group Limited, the premier loyalty marketing firm in the United Kingdom. The transaction brings together two strong, complementary players and significantly accelerates the realization of our strategic objectives, enhances our competitive presence at home and grows our market internationally. As part of Aeroplan’s further evolutionary process, ACE Aviation Holdings Inc. continued to reduce its ownership position, resulting in changes in the composition of the Board. As a result, I would like to thank Bernard Attali, Brett Ingersoll, Pierre Marc Johnson, John McLennan, David Richardson, Robert Warden, Marvin Yontef, and, of course, the outgoing Chairman, Robert Milton, for their service as directors and trustees of Aeroplan. I would also like to once again welcome this past year’s additions to the Aeroplan Board, Messrs. John Forzani, Doug Port and Alan Rossy. The...
Please join StudyMode to read the full document