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To view this page ensure that Adobe Flash Player version 9.0.124 or greater is installed. EXECUTIVE SUMMARY IS THE VERDICT IN? Business aviation drives value in many ways unique to Ameri-can enterprise. Over a broad range of uses, business aircraft can materially benefit shareholders. Evidence of the value provided by business aircraft use can be seen in remarkably consistent correlations in the aggregate performance of companies and industry sectors using business aircraft measured against those which do not, and among influential lists of the best performing companies. According to our study of the S&P 500, we found that business aircraft users outperformed nonusers in several important finan-cial measures. Between 2003 and 2007: ..Average annual revenue growth on a market cap-weight-ed basis was 116 percent higher for users (6 percent unweighted) ..Average annual earnings growth was 434 percent higher for users (253 percent unweighted) ..Average annual EBIT growth was 81 percent higher for users (54 percent unweighted) ..Average annual EBITDA growth was 32 percent higher for users (minus 10 percent unweighted) ..Total stock and dividend growth was 252 percent higher for users (88 percent unweighted) ..Total share price growth was 156 percent higher for users (93 percent unweighted) ..Market capitalization growth as measured by market value growth was 496 percent higher for users (95 percent unweighted). The figure above demonstrates that users substantially outperformed nonusers in growing their market cap during the period analyzed. Using nonfinancial measures, the highest performing companies appearing on several “Best of” lists reveal a remarkable correlation with business aircraft use: ..Among Business Week’s 2009 “50 Most Innovative Companies,” 95 percent of the S&P 500 companies on that list were users ..Among Fortune’s 2009 “100 Best Places To Work,” 86 percent of the S&P 500 companies on that list were users ..Among Business Week’s 2009 “25 Best Customer Service Companies,” 90 percent of the S&P 500 companies on that list were users 中国公务机网 www.gongwuji.com 公务机翻译 www.aviation.cn 本文链接地址：BUSINESS AVIATION – AN ENTERPRISE VALUE PERSPECTIVE 2003 – 2009(4) |
