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To view this page ensure that Adobe Flash Player version 9.0.124 or greater is installed. As shown in Figure 9, from 2005 through 2009 SME business aircraft users grew their top line 22 percent faster than nonusers (1.22 to 1.00). The SMEs in our study repeatedly referenced the use of business aviation as a material advantage in capturing new business and retaining existing clients. James Lara, President of Gray Stone Advisors, a management consulting firm based in Knoxville, Tennessee, succinctly made the point that business aviation allowed his company to respond to potential leads within two hours. He credited this rapid response to potential customers as the key to his company’s revenue growth. Other examples were plentiful. Several participants indicated that increased mobility allowed for more face-to-face business development meetings than their competitors. During our interviews, respondents indicated that they were seen as more engaged by their prospective customers. A distinct benefit produced by business aviation was better productivity and morale. The satisfaction of closing sales opportunities efficiently through business aircraft use was a clear differentiator that continued to motivate top management well beyond closing dates. Profitability Value drivers for the “bottom line” metrics are tied to earnings and profit growth. Profitability metrics are used to measure a company’s ability to generate income based on productivity and utilization of assets. Over the past five years, SME users of business aviation earned bottom line net income at a rate of 219 percent over nonusers. In other words, a SME user of business aviation would have earned $3.19 for every dollar earned by a nonuser. EBITDA is another earnings measure used to understand the financial strength of a company, while growth of EBITDA measures its momentum. Because EBITDA does not include expenses such as interest charges and depreciation, it is often used to understand and measure a company’s core operating performance. Growth in this category also shows whether a company is able to contain costs and improve productivity. From 2005 through 2009, SME business aviation users outperformed nonusers in EBITDA growth 3.30 to 1. 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 2005 - 2010(14) |
