DGAP-News: Flughafen Wien Group: Net profit rises 3.2% to EUR 75.7 million in 2010
(firmenpresse) - DGAP-News: Flughafen Wien AG / Key word(s): Final Results
Flughafen Wien Group: Net profit rises 3.2% to EUR 75.7 million in
2010
24.03.2011 / 08:00
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Flughafen Wien Group: Net profit rises 3.2% to EUR 75.7 million in 2010
- Revenue: plus 6.4% to EUR 533.8 million
- Traffic: plus 8.7% in passengers to 19.7 million
- Forecast for 2011: plus 5.0% in passengers, plus 3.0% in maximum
take-off weight (MTOW) and plus 2.0% in flight movements
Revenue recorded by the Flughafen Wien Group rose by 6.4% to EUR 533.8
million in 2010. This increase was less than the 8.7% growth in traffic
because of higher revenue deductions, among others from the extended
increase in the transfer incentive and, above all, due to the growth
agreements concluded with NIKI and the Austrian Airlines Group. Earnings
before interest, taxes, depreciation and amortisation (EBITDA) recorded by
the Flughafen Wien Group rose by 1.0% to EUR 168.1 million in 2010 (2009:
EUR 166.5 million). The reserved development of EBITDA resulted chiefly
from an increase in personnel expenses and other operating costs. This
higher EBITDA combined with lower depreciation and amortisation led to a
2.8% improvement in EBIT, which rose to EUR 102.3 million. Financial
results remained nearly unchanged in year-on-year comparison at minus EUR
3.6 million. Net profit for 2010 amounted to EUR 75.7 million, compared
with EUR 73.3 million in 2009.
These results were announced by the Management Board of Flughafen Wien AG
on Thursday at a press conference in Vienna. 'The past year brought a
recovery in traffic, and we were able to generate sound results. This year
we will be faced with a number of challenges, for which we have already set
an appropriate course. Responsibilities and corporate structures were
reorganised, work on the Skylink project proceeded at a high pace and the
long-term costs were analysed in detail. Our goal is to become faster and
more customer-oriented and to demonstrate our competitive strength even
better in the future,' explained Christoph Herbst, Chairman of the Board of
Flughafen Wien AG.
High dividend yield
Based on the development of business, a recommendation will be made to the
annual general meeting on 29 April 2011, requesting the approval of a EUR
2.00 dividend per share. This would represent a total distribution of EUR
42.0 million. The dividend yield for 2010 equals 3.9% based on the closing
price for the reporting year.
Strong passenger growth in 2010
With an increase of 8.7% in the number of passengers to 19.7 million in
2010, Vienna International Airport far exceeded the European average of
4.2% (Source: ACI Airport Traffic Report, December 2010 - full year).
Passenger traffic to the Middle East rose by 10.0%, and traffic to Eastern
Europe was 13.6% higher. Maximum take-off weight increased 9.9%, flight
movements 1.1% and cargo (incl. trucking) 16.5%.
Skylink: work to complete construction and preparations for start-up
Work is proceeding to complete the terminal extension VIE-Skylink - the
start of operations is planned for the first half of 2012 and, from the
current point of view, this schedule can be met. Parallel to construction,
preparations are underway for the opening and test operations are expected
to start during the fourth quarter of 2011. The maximum costs for the
Skylink amount to EUR 830.0 million and, from the current point of view,
this budget can be met. An 'open house at the construction site' on 10
April 2011 will give the public an opportunity to gain a detailed
impression of this project and the functioning of the new terminal. Other
major investments in the reporting year included the revitalisation of the
Terminal 2 facade and the bus gates as well as the revitalisation of the
terminal roof. A total of EUR 146.9 million was invested in intangible
assets, property, plant and equipment and financial assets in 2010.
International investments
Our international investments reported favourable traffic development in
total. KoÅ ice Airport handled 266,858 passengers and generated a profit of
EUR 1.2 million. Malta Airport recorded a profit of EUR 10.7 million and
3,293,524 passengers. Friedrichshafen Airport reported 590,640 passengers
and a loss of EUR 2.9 million.
Outlook: traffic forecast
Positive economic forecasts lead to expectations of further growth in 2011.
The number of passengers should rise by 5.0%, maximum take-off weight
(MTOW) by 3.0% and flight movements by 2.0%. Long-term forecasts by
Flughafen Wien indicate average growth of 4.2% in the number of passengers
from 2011 to 2020.
For additional information contact:
Corporate Communications Flughafen Wien AG
Peter Kleemann (+43-1-) 7007-23000, p.kleemann(at)viennaairport.com
Birgit Fehsler (+43-1-) 7007-22254, b.fehsler(at)viennaairport.com
Clemens Schleinzer (+43-1-) 7007-22399, c.schleinzer(at)viennaairport.com
Investor Relations:
Mario Santi (+43-1-) 7007-22826, m.santi(at)viennaairport.com
Homepage: www.viennaairport.com
Financial Indicators (in EUR mill.) 2010 Change in % 2009Flughafen Wien Aktiengesellschaft
Total revenue 533.8 6.4 501.7
Thereof Airport 260.0 14.8 226.5
Thereof Handling 165.2 -2.7 169.8
Thereof Retail&Properties 93.6 5.4 88.8
Thereof Other Segments 14.5 -10.8 16.2
EBIT 102.3 2.8 99.6
EBITDA 168.1 1.0 166.5
EBITDA margin (in %) 31.5 -5.1 33.2
Net profit after non-controlling
interests 75.7 3.2 73.4
Cash flow from operating activities 169.7 9.2 155.5
Income taxes 23.0 1.5 22.7
Industry Indicators 2010 Change in % 2009
MTOW (in mill. tonnes) 8.0 9.9 7.3
Passengers (in mill.) 19.7 8.7 18.1
Thereof transfer passengers (in mill.) 5.9 8.6 5.5
Flight movements 246,146 1.1 246,430
Cargo (air cargo and trucking; in
tonnes) 295,989 16.5 254,006
Announcement
The report of Flughafen Wien AG on the 2010 financial year from 1 January
to 31 December 2010 is available to the general public at the headquarters
of the company, 1300 Flughafen Wien and is also available for download at
http://ir.viennaairport.com under the menu point 'Publications', subpoint
'Other Publications'.
The 2010 annual report is available to the general public at the
headquarters of the company, 1300 Flughafen Wien, and at the offices of
Bank Austria, 1010 Vienna, Am Hof 2.
The Management Board
Flughafen Wien, 24 March 2011
Contact:
Mario Santi
Flughafen Wien AG
Investor Relations
Tel: +43 1 7007/22826
e-mail: m.santi(at)viennaairport.com
End of Corporate News
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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-FlughafenÖsterreich
Phone: +43-1-7007/22826
Fax: +43-1-7007/23058
E-mail: m.santi(at)viennaairport.com
Internet: www.viennaairport.com
ISIN: AT0000911805
WKN: 884216
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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Datum: 24.03.2011 - 08:00 Uhr
Sprache: Deutsch
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