·+9.0% in passengers at Vienna International Airport
·+10.6% in revenue to EUR 418.0 million
·+7.9% in EBITDA to EUR 164.2 million
·+11.0% in EBIT to EUR 112.8 million
·+13.7% in net profit to EUR 84.7 million
·+13.5% in earnings per share to EUR 4.03
·8.0% to 6.0% reduction in passenger forecast for 2008
Revenue recorded by the Flughafen Wien Group rose by 10.6% to EUR 418.0 million for the first nine months of 2008. EBITDA increased 7.9% to EUR 164.2 million and EBIT 11.0% to EUR 112.8 million. The EBITDA margin declined 1.0 percentage points to 39.3%, primarily due to a rise in the cost of consumables that exceeded the growth in revenue. The EBIT margin equalled 27.0%, reflecting an improvement of 0.1 percentage points. Profit attributable to the shareholders of the parent company totalled EUR 84.7 million, for an increase of 13.7% over the comparable prior year period.
Solid growth in traffic
With a plus of 9.0% in the number of passengers to approx. 15.3 million for the first three quarters, Vienna International Airport again outpaced the growth of 1.2% reported by Airports Council International for the branch in Europe. The number of passengers travelling to North America increased 14.6%. Vienna was also able to strengthen its excellent market position in traffic to Eastern Europe, as is demonstrated by the 16.2% expansion in passenger volume to this region. The low-cost carriers again reported above-average growth with an increase of 44.9%, which raised their share of the total passenger volume at Vienna International Airport from 17.4% to 23.2%; the seat occupancy on flights by these airlines equalled 68.8%.
Kosice Airport reported an increase of 48.5% to 486,351 passengers for the first three quarters of 2008. The number of passengers handled by Malta Airport during the reporting period rose by 7.8% to 2,504,600. With 519,921 passengers, Friedrichshafen Airport was able to match the prior year level.
The major investments for the first three quarters of 2008 included the terminal expansion VIE-Skylink at EUR 105.7 million, the expansion of car park 4 (completed in June) at EUR 11.9 million, baggage sorting equipment at EUR 8.4 million, security systems at EUR 5.4 million, the expansion of the northeast apron at EUR 4.9 million and the new fire department headquarters at EUR 4.5 million.
The development of traffic at Vienna International Airport reflected the general trend in the aviation branch with a decline in October. Passenger volume fell by 2.1%, but flight movements and maximum take-off weight (MTOW) increased 0.3% and 2.5%, respectively. The number of passengers (scheduled and charter) travelling to Eastern Europe was 2.9% lower in October 2008, while the other European destinations recorded a drop of 5.3%. This slower growth in passenger volume has led to a revision of traffic forecasts for the full 12 months of 2008: Flughafen Wien AG now expects an increase of 6.0% in the number of passengers this year (instead of the previously announced 8.0%), and current information indicates that flight movements should increase 5.0% (instead of the previously announced 6.0%). The forecast for maximum take-off weight (MTOW) remains unchanged at 6.0%. These results will still place Vienna International Airport significantly above the European average.
Traffic forecasts for 2009 will be announced at a press conference in January 2009.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
Depreciation and amortisation
Earnings before interest and taxes (EBIT)
Income from investments, excl. companies at equity
Net financing costs
Other financial income/expense
Financial results, excl. companies at equity
Income from companies at equity
Profit before taxes (EBT)
Net profit for the period
Thereof attributable to:
Equity holders of the parent
Earnings per share (in EUR) basic/diluted
Flughafen Wien Aktiengesellschaft
The report by Flughafen Wien AG on the first three quarters months from 1 January to 30 September 2008 is available to the general public from the company at 1300 Flughafen Wien and from Bank Austria, 1010 Vienna, Am Hof 2.
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