DGAP-News: Flughafen Wien AG: Positive commercial development at Flughafen Wien AG: first three quarters bring higher revenues and earnings
(firmenpresse) - DGAP-News: Flughafen Wien AG / Key word(s): Quarter Results
Flughafen Wien AG: Positive commercial development at Flughafen Wien
AG: first three quarters bring higher revenues and earnings
22.11.2012 / 08:00
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Positive commercial development at Flughafen Wien AG: first three quarters
bring higher revenues and earnings
Guidance for 2012 confirmed - break even or slightly weaker results
expected for fourth quarter
CAPEX for 2012 reduced to approx. EUR 100 million
Check-in 1 to reopen in January 2013 after modernisation
The Flughafen Wien Group reported a substantial improvement in all key
indicators for the first nine months of 2012. Revenue increased by 5.1% to
EUR 457.5 million and EBITDA by 10.4% to EUR 174.6 million. EBIT rose to
EUR 102.8 million (+63.1%) and net profit to EUR 71.7 million.
In connection with this year-on-year improvement, it should be noted that
results for the first three quarters of 2011 were negatively influenced by
special effects and impairment charges. The EBITDA margin rose from 36.3%
in the previous year to 38.2% and the EBIT margin increased from 14.5% to
22.5%.
'We are on the right course. The measures implemented to increase
productivity, reduce costs and streamline the organisational structure are
producing the intended results. We were also able to cut the costs for
Check-in 3. For 2012 we are expecting positive net cash flow and a slight
reduction in net debt', commented Günther Ofner, member of the Management
Board (CFO) of Flughafen Wien AG, on the latest financial results. 'Even
though earnings will be negatively affected by increased depreciation,
amortisation and operating costs as well as higher interest expense for
Check-in 3, we are optimistic that we will reach all our targets for this
year', added Ofner.
Flughafen Wien expects slightly negative for the fourth quarter of 2012, in
part due to maintenance and repairs that were rescheduled for this period
as well as the generally slower growth in passenger volumes. Net profit for
the full 2012 financial year should therefore equal or be slightly lower
than the first three quarters.
'The sound development of passenger traffic has had a positive effect on
revenue and earnings. Our core business is developing well and we are
optimistic that we will reach our forecast for an increase of roughly 5% in
the number of passengers this year', explained Julian Jäger, member of the
Management Board (COO) of Flughafen Wien AG. 'Consequently, high quality
services and a modern infrastructure are our top priority. We are currently
modernising Check-in 1, which will open in January 2013 as the new terminal
for Air Berlin/NIKI. The shopping offering at the airport will also be
expanded in the near future. Detailed contract negotiations are now
underway with several operators, and we are optimistic that the leases will
be signed by the end of this year', stated Jäger.
5.9% increase in passengers during the first nine months of 2012
Vienna Airport handled a total of 16,927,884 passengers during the first
nine months of 2012, which represents a year-on-year increase of 5.9%. The
number of transfer passengers rose by 10.2% over the comparable prior year
period. The number of passengers departing to destinations in Eastern
Europe rose by13.4% from January to September 2012 and traffic to the
Middle East increased 10.0%. Traffic to the Far East declined by 3.8%
following the termination of flights to Mumbai.
Passenger increase for Austrian Airlines
The Austrian Airlines Group recorded an increase of 4.6% in the number of
passengers handled at Vienna Airport during the first nine months of 2012
despite successful restructuring and partial capacity reductions. This
airline's share of total passenger traffic fell slightly from 50.0% to
49.4%. The so-called low-cost carriers handled 5.9% more passengers during
the reporting period, while their share of total passenger traffic remained
unchanged in comparison with the previous year at 22.1%. In contrast to the
growth in passenger volume, flight movements declined 0.2% to 185,888. This
led to an improvement in seat occupancy from 69.9% in the prior year period
to 73.1% for the reporting period. Maximum take-off weight (MTOW) totalled
6,172,790 tonnes, which is 1.3% lower than the comparable prior year
period. This development resulted from the lower number of flight movements
as well as a decline in cargo flights. Cargo volume (air cargo and
trucking) fell by 8.9% to 189,074 tonnes.
Development of segment revenue
Revenue recorded by the Airport Segment increased EUR 17.1 million or 7.7%
to EUR 238.7 million for the first nine months of 2012, above all due to
the sound development of traffic and strong growth in the number of
passengers. Revenue in the Handling Segment fell by EUR 3.2 million or 2.7%
to EUR 116.1 million due to the decline in cargo volume, a lower number of
flight movements and the effects of new handling contracts. The Retail&Properties Segment generated an increase of 10.2% in revenue to EUR 90.8
million. Revenue in the Other Segments equalled EUR 11.7 million and
remained nearly unchanged in year-on-year comparison.
Check-in 1: start of operations by Air Berlin/NIKI in January 2013
The revitalisation of Check-in 1 is proceeding on schedule and involves the
modernisation of the walls, flooring and lighting concept in the terminal.
Air Berlin/NIKI will start operations in these new surroundings during
January 2013. Optimisation measures have already started in Check-in 3, and
operations have been largely problem-free from a technical standpoint. In
order to improve accessibility, five working groups were created together
with organisations for the disabled. A number of improvements - such as the
refitting of the sanitary facilities and the creation of a new route for
passengers to car park 3 - have already been made.
Corporate spending
The Flughafen Wien Group invested a total of EUR 56.5 million during the
first nine months of 2012, whereby the terminal expansion Check-in 3
represented the major project at EUR 26.5 million. Other projects included
EUR 6.3 million for a forwarding agent building, EUR 6.0 million for
special vehicles and EUR 3.5 million for the revitalization of Check-in 1.
Capital expenditure for the 2012 financial year has been reduced to approx.
EUR 100 million.
For additional information contact:
Corporate Communications Flughafen Wien AG
Press Office:
Peter Kleemann (+43-1-) 7007-23000 p.kleemann(at)viennaairport.com
Clemens Schleinzer (+43-1-) 7007-22399 c.schleinzer(at)viennaairport.com
Stefanie Tomanek (+43-1-) 7007-26939 s.tomanek(at)viennaairport.com
Investor Relations:
Judit Helenyi (+43-1-)7007-23126 j.helenyi(at)viennaairport.com
Mario Santi (+43-1-) 7007-22826 m.santi(at)viennaairport.com
Consolidated Income Statement
in TEUR
1-9/2012 1-9/2011 Change in %
Revenue 457,495.8 435,341.6 5.1
Other operating income 18,494.3 13,021.2 42.0
Operating income 475,990.1 448,362.9 6.2
Consumables and services used -30,150.9 -27,653.8 9.0
Personnel expenses -189,829.2 -189,575.0 0.1
Other operating expenses -81,419.6 -72,964.9 11.6
Earningsbefore interest,
taxes,depreciation
and amortisation (EBITDA) 174,590.3 158,169.2 10.4
Depreciation and amortisation -71,758.0 -95,137.0 -24.6
Earnings before interest
and taxes (EBIT) 102,832.3 63,032.1 63.1
Income from investments,
excl. companies at equity 932.3 364.9 155.5
Interest income 3,537.1 2,871.1 23.2
Interest expense -17,993.8 -10,044.1 79.1
Other financial expense/income 133.6 1,587.7 -91.6
Financial results, excl.
companies at equity -13,390.8 -5,220.4 156.5
Income from companies at equity 4,741.7 -23,152.8 n.a.
Financial results -8,649.2 -28,373.2 -69.5
Profit before taxes (EBT) 94,183.2 34,658.9 171.7
Income taxes -22,003.0 -14,446.5 52.3
Net profit for the period 72,180.1 20,212.5 257.1
Thereof attributable to:
Equity holders of the parent 71,739.6 20,234.1 254.5
Non-controlling interests 440.5 -21.6 n.a.
Earnings per share in EUR
(basic/diluted) 3.42 0.96 256.3
Flughafen Wien Aktiengesellschaft
Announcement
The report by Flughafen Wien AG on the first three quarters from 1 January
to 30 September 2012 is available to the general public at the company's
offices in 1300 Flughafen Wien and at Bank Austria, 1010 Vienna,
Schottengasse 6-8. It is also available in the Internet under
http://ir.viennaairport.com menu point 'Publications',
sub-section 'Quarterly Reports'.
The Management Board
Flughafen Wien, 22.11.2012
Contact:
Judit Helenyi
Flughafen Wien AG
Investor Relations
Tel: +43 1 7007/23126
e-mail: j.helenyi(at)viennaairport.com
End of Corporate News
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22.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Austria
Phone: +43-1-7007/22826
Fax: +43-1-7007/23806
E-mail: investor-relations(at)viennaairport.com
Internet: http://www.viennaairport.com
ISIN: AT0000911805
WKN: 884216
Indices: ATX Prime
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; London, Wien (Amtlicher Handel / Official
Market)
End of News DGAP News-Service
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