AIT Austrian Institute of Technology

Transcription

1 AIT Austrian Institute f Technlgy

2 Climatic Wind Tunnel RTA An Example f Large Research and Test Infrastructure as PPP between Republic f Austria, AIT and Railway Industry Alexander Svejkvsky (Chief Financial Officer)

3 Climatic Wind Tunnel - the Facility Temperature -45 t +60 C wind speeds up t 300 km/h length 100 m and 33.8 m One f the mst advanced climatic/wind simulating test envirnments fr (railway) vehicles 2 tunnels large and small 3

4 City Transprt - France Trams fr Marseille [Bmbardier] thermal cmfrt in passenger cmpartment 4

5 City Transprt Austria and Dubai Buses [MAN] windscreen wiper test and thermal cmfrt test in passenger cmpartment 5

6 Metr - Asia Metr fr Shanghai [Siemens] 6

7 Transprt Vehicles Trucks [MAN] Siling tests 7

8 Interurban Transprt - Asia High speed train (ICE type) climatic test fr China 8

9 Aircrafts Aircraft [Diamnd]: temperature develpment in structural aircraft parts under slar radiatin Transprt helicpter: cld start test f engines 9

10 Why a PPP? Jin frces t build a facility which wuld be t expensive fr ne party alne Mtivatin fr industry: Infrastructure is t large and expensive fr ne user Sharing resurces imprves efficiency and allws building cutting edge infrastructure Mtivatin f public stakehlder: Create an Austrian infrastructure hub t fster the railway industry and related research. Keep Austria an attractive lcatin fr the railway industry Mtivatin fr AIT: AIT was the wner f the predecessr infrastructure a much smaller and less advanced climatic wind tunnel. PPP mdel allwed transfer f staff and activities (prjects, etc.) t new cmpany and staying in business thanks t state-f-the-art infrastructure 10

11 PPP Structure f Climatic Wind Tunnel Built by Republic f Austria via publicly wned cmpany SCHIG (Railway- Infrastructure Services) Service sales Availability payment 29.6 % Bmbardier 26 % AIT 14.8 % Alstm Lease Cntract 30 yrs Operated by RTA Rail Tec Arsenal 14.8 % Siemens Owned by RTR Rail Test & Research 100 % subsidiary f SCHIG Lease agreement Lease fee 14.8 % AnsaldBreda

12 Basic Assumptins Business Plan Financing f infrastructure dne via bank lans and subsidised lans Lans received by infrastructure wner RTR Owner charges lease fee t peratr t cver depreciatin f assets and csts f lan repayment (including interest, fees, etc.) Republic f Austria establishes wner cmpany Planned time f peratin: 30 yrs Owner cmpany finances infrastructure, sets up lease agreement Operatr runs infrastructure, pays lease fee Year 1 Year 2 Year 3 Year 4 Sales Availability Payment Csts Prfit Free Cash-flw Captital Expenditures Operatr is respnsible fr paying lease fee, maintaining infrastructure and raising cash if mre capital investments are needed (e.g. new functinalities, wider scpe f wrk, etc.) Operatr acquires prjects t utilise infrastructure and generate sales. Basic plan: ensure high utilisatin by sharehlders If utilisatin is nt sufficient t cver csts: availability payment

13 Achievements, Lessns Learned & Caveats Financing surces fr capital expenditure Financing Surces fr captial expenditures RTA has established itself as a renwned player in the field f climatic tests fr railway and rad vehicles The cmplex field f aviatin is gaining increasing imprtance New business fields New test methds New facility items and features Utilisatin planning is a key success factr t satisfy custmers (time/lgistics, etc.) and t drive sales by harvesting ptential Free cash flws Public grants Bank lans Sharehlder capital Free cash flws are needed Widening f scpe / addressing new business Keeping up t date Business mdel needs t ensure sustained generatin f free cash flws 13

14 AIT Austrian Institute f Technlgy Alexander Svejkvsky alexander.svejkvsky@ait.ac.at