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treasury-in-the-boardroom treasury-in-the-boardroom Presentation Transcript

  • Treasury at executive level Port of Antwerp February 24, 2011 Jan Adam, Finance Director
  • Introduction Port of Antwerp Structured processes Headlines debtors, creditors, treasury Management committee Board of directors
  • The Port of Antwerp today
    • Surface area: 13.057 ha
    • Mooring length: 151 km
    • Railroads: 1.055 km
    • Roads: 352 km
    • Indoor storage: 545 ha
  • Organisation in the Port of Antwerp
    • Antwerp Port Authority
    • Separate legal entity
    • Maximise area potential
    • Manage infrastructure
    • Impact public policy
  • Organisation in the Port of Antwerp
    • Private companies:
    • manage the superstructure
    • conduct commercial activities:
    • Terminals
    • Cranes
    • Equipment
    • Storage facilities
    • PUBLIC PRIVATE PARTNERSHIP
  • Employment Source: National Bank of Belgium, 2009. 64.870 directly 118.236 indirectly 183.106 jobs
  • Points of attention
    • Competitive position today and tomorrow
    • Rise and fall of commodities
    • Evolution in thought leadership about ports
      • Supply chain thinking
      • Hinterland connections
      • Various modes of transportation
      • “ Green” ports
  • Points of attention
    • Various activities:
    • Management of land
    • “ Wet” and “”dry” infrastructure
    • Operational activities
    • Capital intensity “port authorities”: Tangible assets =
    • APA: 85% of total assets (1 billion euro)
    • HbR: 95% of total assets
    • Hamburg: 85% of total assets
    • Added value of treasury??
  • Port objects:
  • Port objects:
  • Port objects:
  • Port objects:
  • Port objects:
  • Port objects:
  •  
  •  
  • Containers: standard measure used by the press Market share
  • Antwerp in the 17th and 18th century
    • Religious wars
    • 1585: fall of Antwerp
    • Northern Netherlands block the river Scheldt
    • 200 year blockage of the river Scheldt
    • Importance of good neighbourship
    • het kan verkeren
    • (Bredero)
  • Introduction Port of Antwerp Structured processes Headlines debtors, creditors, treasury Management committee Board of directors
  • The magical triangle of Working Capital
  •  
  • Structured processes: Policy document Combined effort of internal and external resources Submitted to and approved by Management Committee Keeping it up-to-date: change management
  • Structured processes: proces manual treasury
  • Proces binnenlezen gecodeerde dagafschriften
  • Structured processes: process manual Entirely prepared by internal resources (“part of the job”) Comfort feeling for management and employees Improved planning at all levels (“frequency indication”) Better allocation (“spread”) of tasks and backup tasks Basis for improvement processes
  • Introduction Port of Antwerp Structured processes Headlines debtors, creditors, treasury Management committee Board of directors
  • Debtors: headlines Bill timely, collect wisely (proactively where possible) Land lease Port dues Collection policy: direct debet where possible Attention point: APA does not always choose its own clients
  • Creditors: headlines Public tendering legislation (including payment terms) Payment just in time Allows for high level of creditors' days However: risk for late payment penalty (all to be submitted to management committee)
  • Treasury: headlines Daily early morning work: Electronic reading and processing of bankstatements Determining monetary position Allocation of funds Afternoon: on-line verification of status bank accounts Longer term view: Knowledge about overall annual budget and updates, medium and long term plans Evolution in financial position = evolution in treasury focus
  • Introduction Port of Antwerp Structured processes Headlines debtors, creditors, treasury Management committee Board of directors
  • Management committee reporting
    • Part of monthly reporting by controlling department based on datawarehouse
      • Financial overview
      • Working capital overview
      • Specific treasury overview
      • Subsidies
    • Fund reporting (monthly)
    • Balanced scorecard banks (every 2 years)
    • Projects (ad hoc)
  • + written explanation on fluctuations
  •  
  • Reporting components management committee Cash Conversion Cycle (CCC) Theoretically In practice
  •  
  • Dupont Model: in practice - schedule
  • Dupont Model: in practice -graph
  • Monthly fund reporting Overview of movements Financial results Comparison to benchmark: figures and graphically Annual results as well as from “inception”
  • Totale portefeuille Portefeuille van december 2010 Deelbewijzen Rendementen portefeuille Benchmark Fonds X - overheidsobligaties Fonds Y – bedrijfsobligaties Gerealiseerde meerwaarde/minwaarde
  • Evaluation of banks: balanced scorecard Need for objectieve assessment Different aspects of a relationship Every two years
  • Evaluation of bank relations: balanced scorecard
  • Example of project: SEPA - roadmap
  • ISABEL – aantal verrichtingen
  • Introduction Port of Antwerp Structured processes Headlines debtors, creditors, treasury Management committee Board of directors
  • Board of directors: reporting Long term financial plan (long term = 20 years) Annual budget Quarterly financial reporting Annual financial statements
  • Table Graph Text
  • New Port House Zaha Hadid Architects