Corporate | 21 May 2010 08:00
Flughafen Wien AG / Quarter Results
21.05.2010 08:00
Dissemination of a Corporate News, transmitted by
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* EBITDA: + 4.8% to EUR 43.7 million
* EBIT: + 9.0% to EUR 27.4 million
* Net profit for the period: + 7.6% to EUR 18.9 million
* Passengers: + 6.3% to 3,892,051
The Flughafen Wien Group generated revenue of EUR 123.0 million during the
first three months of 2010, which reflects an increase of 1.3% over the
comparable prior year period. Profit after tax rose by 7.6% to EUR 18.9
million (1-3/2009: EUR 17.5 million) and outpaced the development of
traffic. EBITDA amounted to EUR 43.7 million (+4.8%) and EBIT to EUR 27.4
million (+9.0%) for the first quarter of 2010. The stronger earnings growth
in relation to the development of revenue was reflected in an improvement
in the EBITDA margin to 35.5% (1-3/2009: 34.3%) and the EBIT margin to
22.2% (1-3/2009: 20.7%).
Segment revenue
Group revenue rose by 1.3% over the first three months of 2009 to equal
EUR 123.0 million in the first quarter of 2010. This development was less
than the growth in traffic due to an increase in incentives, above all the
transfer incentive, to support traffic as well as lower income from
security controls. External revenue recorded by the Airport Segment rose by
11.5% to EUR 57.4 million. This increase resulted above all from a change
in the allocation of revenue from passenger and baggage controls, which
were previously assigned to the Handling Segment. This change in allocation
was also responsible for a EUR 5.1 million decline in Handling Segment
revenue to EUR 39.9 million. The Retail & Properties Segment reported a
4.3% increase in revenue to EUR 22.3 million, while revenue registered by
the 'Other Segments' declined EUR 0.2 million to EUR 3.2 million.
Plus 6.3% in traffic during the first quarter of 2010
Vienna International Airport handled a total of 3,892,051 passengers during
the period from January to March 2010, which represents a year-on-year
increase of 6.3%. Increases of 6.6% were registered in passenger traffic to
Eastern Europe and Western Europe. The above-average growth recorded by
Middle East destinations continued with a plus of 15.4% for the first
quarter. The development of traffic was also supported by North America and
the USA, which recorded a plus of 7.5% and 10.6%, respectively, in the
number of passengers. The Austrian Airlines Group handled 9.7% more
passengers during the reporting period, which increased this carrier's
share of the total passenger volume from 48.3% to 49.8%. The low-cost
carriers handled 22.3% of the passengers at Vienna International Airport
(1-3/2009: 24.1%), for a decline of 1.7% in relation to the previous year.
Maximum take-off weight (MTOW) totalled 1,701,418 tonnes, which is 3.5%
higher than in the first quarter of 2009. Cargo volume (air cargo and
trucking) increased 29.8% to 70,391 tonnes. The number of flight movements
remained nearly unchanged in comparison with the prior year at 56,822. Seat
occupancy rose from 61.3% in the first quarter of 2009 to 63.8% for the
reporting period.
Corporate Spending
The major investments during the first three months of 2010 were the
terminal extension VIE-Skylink at EUR 5.6 million, passenger security
control lines at EUR 1.0 million, baggage sorting equipment at EUR 0.8
million and the ramp in front of the airport building at EUR 0.6 million.
In addition, EUR 0.3 million each were invested in technical noise
protection, the refurbishing of Terminal 2 and the guidance system.
Outlook
According to preliminary traffic results, the intermittent closing of air
space over Europe as a result of the volcanic ash cloud led to a decline in
the number of passengers and flight movements during the month of April.
The number of passengers handled at Vienna International Airport fell by
8.0% and flight movements declined 7.1% in comparison with April 2009. In
contrast, maximum take-off weight (MTOW) rose by 1.9%. During the period
from January to April 2010, passenger volume rose by 2.1% year-on-year.
Under the condition that air traffic is not influenced by external effects
(such as the volcanic ash cloud), Flughafen Wien AG is forecasting an
increase of 3.0% in the number of passengers, 6.0% in maximum take-off
weight (MTOW) and 1.0% in flight movements during 2010.
Investments of EUR 207.0 million are planned for 2010. This amount includes
replacement and maintenance investments, but no investments in the third
runway, the purchase of land or borrowing costs capitalised during
construction.
Consolidated Interim Financial Statements
Consolidated Income Statement in TEUR
1-3/2010 1-3/2009 Change in %
Revenue 123,038.9 121,417.0 1.3%
Other operating income 4,324.4 2,792.4 54.9%
Operating income 127,363.3 124,209.5 2.5%
Consumables and services
used -12,819.7 -10,983.2 16.7%
Personnel expenses -52,635.5 -52,556.6 0.2%
Other operating expenses -18,203.6 -18,969.6 -4.0%
Earnings before interest,
taxes, depreciation and
amortisation (EBITDA) 43,704.6 41,700.0 4.8%
Depreciation and
amortisation -16,341.9 -16,594.6 -1.5%
Earnings before interest
and taxes (EBIT) 27,362.7 25,105.5 9.0%
Net financing costs -2,057.7 -1,614.4 27.5%
Other financial income/expense 10.8 -33.8 -131.9%
Financial results, excl.
companies at equity -2,047.0 -1,648.2 24.2%
Income from companies
at equity -220.8 -372.5 -40.7%
Financial results -2,267.7 -2,020.7 12.2%
Profit before taxes (EBT) 25,094.9 23,084.8 8.7%
Income taxes -6,219.7 -5,543.8 12.2%
Net profit for the period 18,875.2 17,541.0 7.6%
Thereof attributable to:
Shareholders of the parent 18,876.2 17,543.6 7.6%
Non-controlling interests -1.1 -2.6 -59.0%
Earnings per share in EUR
basic/diluted 0.90 0.84 7.1%
Flughafen Wien Aktiengesellschaft
Announcement
The report by Flughafen Wien AG on the first quarter from 1 January to 31
March 2010 is available to the general public at the company's offices in
1300 Flughafen Wien and at Bank Austria, 1010 Vienna, Am Hof, and is also
available in the Internet under http://ir.viennaairport.com,
menu point 'Publications', sub-section 'Other Publications'.
The Management Board
Flughafen Wien, 21.05.2010
Robert Dusek
Investor Relations
Flughafen Wien AG
Tel: +43-1-7007/22300
e-mail: r.dusek@viennaairport.com
21.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Österreich
Phone: +43-1-7007/23126
Fax: +43-1-7007/23058
E-mail: r.dusek@viennaairport.com
Internet: www.viennaairport.com
ISIN: AT0000911805
WKN: 884216
Indices: ATX
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Foreign Exchange(s) London, Wien
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