Flughafen Wien Group: 11.6% increase in net profit to Eur 38.1 million for the first half of 2010
EBITDA: + 6.9% to Eur 85.7 million
EBIT: + 12.7% to Eur 52.6 million
Net profit: + 11.6% to Eur 38.1 million
Passengers: + 5.5% to 8,899,368
Upward revision of forecasts for 2010: + 6.0% in passengers, + 7.0% in maximum take-off weight (MTOW) and + 1.0% in flight movements
The Flughafen Wien Group recorded revenue of EUR 253.2 million for the first half of 2010, which represents an increase of 3.5% over the comparable prior year period. Net profit for the period rose by 11.6% - at a higher rate than the development of traffic - to EUR 38.1 million (1-6/2009: EUR 34.1 million). EBITDA amounted to EUR 85.7 million (+6.9%) and EBIT EUR 52.6 million (+12.7%) for the reporting period. The stronger earnings growth in relation to the development of revenue was reflected in an improvement in the EBITDA margin to 33.8% (1-6/2009: 32.8%) and the EBIT margin to 20.8% (1-6/2009: 19.1%).
"Flughafen Wien AG was able to generate sound earnings in the first half-year, and that underscores our position as a strong and profit-oriented company. The development of traffic also exceeded our expectations. We have therefore revised our forecasts upward and are now predicting an increase of 6% in passengers for the year", explained Herbert Kaufmann, Speaker of the Management Board of Flughafen Wien AG.
The Flughafen Wien Group recorded revenue of EUR 253.2 million for the first half of 2010, which represents an increase of 3.5% over the comparable prior year period. The revenue increase was less than the growth in traffic due to an increase in incentives - above all the transfer incentive ? to drive traffic growth. External revenue recorded by the Airport Segment rose by 17.2% to EUR 124.8 million. This development resulted above all from a change in the allocation of revenue from passenger and baggage controls, which were previously assigned to the Handling Segment. The change in allocation was also responsible for a EUR 9.6 million decline in Handling Segment revenue to EUR 76.6 million. The Retail & Properties Segment reported a 2.3% increase in revenue to EUR 44.7 million, while revenue registered by the "Other Segments" declined EUR 1.1 million to EUR 6.7 million.
Growth of 5.5% in traffic during the first half of 2010 in spite of the ash cloud
Vienna International Airport handled a total 8,899,368 passengers from January to June 2010. This represents an increase of 5.5% over the comparable prior year period and was achieved despite the negative effects of the volcanic ash cloud on air traffic throughout Europe. The increase in passenger traffic at Vienna during these six months was more than twice the average of the 30 largest airports in Europe. The number of passengers travelling to Eastern Europe and Western Europe rose by 8.0% and 4.5%, respectively. Traffic to the Middle East was 11.5% higher. Sound growth of 5.2% was recorded in travel to North America, with destinations in the USA registering a plus of 6.8%. The Austrian Airlines Group reported an 11.3% increase in the number of passengers handled at Vienna International Airport, which raised its share of total passenger traffic from 48.7% to 51.4%. The low-cost carriers handled 21.8% of the passengers in Vienna (1-6/2009: 23.9%), for a decline of 4.0% in relation to the previous year. Maximum take-off weight (MTOW) totalled 3,744,236 tonnes, for a plus of 7.2% over the comparable prior year period. Cargo volume (air cargo and trucking) increased 30.4% to 148,353 tonnes. The number of flight movements declined slightly to 119,167. Seat occupancy rose from 65.9% in the first half of 2009 to 66.1% for the reporting period.
The major investments during the first six months of 2010 involved the terminal extension VIE Skylink at EUR 22.4 million, technical noise protection and the environmental fund at EUR 3.0 million, infrastructure extensions for the west expansion at EUR 1.7 million, passenger security control lines at EUR 1.3 million and baggage sorting equipment at EUR 1.2 million.
The July report shows positive development in all traffic segments. In comparison with July of the previous year, the number of passengers handled in Vienna rose by 11.3%. With over two million travellers, Vienna International Airport set a new monthly record in July 2010. Flight movements increased 0.8% and maximum take-off weight (MTOW) 10.7%. The number of passengers handled during the period from January to July 2010 was 6.6% higher than in the comparable prior year period.
Based on the encouraging development of business, Flughafen Wien AG has adjusted its traffic forecasts for 2010 to show an increase of 6.0% in the number of passengers, 7.0% in maximum take-off weight (MTOW) and 1.0% in flight movements for the full 12 months of 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.
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