Press releases


19.11.2009 | IR news
Flughafen Wien Group: Net profit for the period falls to EUR 60.8 million, slower decline in traffic
 
  • Passengers: - 10.3% to 13,732,465
  •  Revenue: -10.4% to EUR 374.4 million
  • New contracts for plant services on Skylink project
 
Revenue recorded by the Flughafen Wien Group totalled EUR 374.4 million for the first nine months of 2009, whereby this 10.4% decline reflects the development of traffic. Personnel expenses and other operating expenses were reduced by 2.9% and 2.2%, respectively. EBITDA amounted to EUR 132.6 million (-19.2%) and EBIT equalled EUR 82.8 million (-26.6%) for the reporting period. Financial results were 4.3% lower at minus EUR 3.7 million. After the deduction of EUR 18.3 million in income tax expense, net profit for the period totalled EUR 60.8 million (1-9/2008: EUR 84.7 million).
 
Parallel development of revenue and traffic
Revenue fell by 10.4% to EUR 374.4 million for the first nine months of 2009 (1-9/2008: EUR 418.0 million). Flughafen Wien AG restructured its reporting segments at the beginning of this year in connection with the application of IFRS 8. Revenue recorded by the Airport Segment declined 12.6% year-on-year as a result of the downturn in traffic and a decrease of EUR 6.5 million in income from the reimbursement of costs for security services. The Handling Segment reported a revenue decline of 10.2% and the Retail & Properties Segment a minus of 6.6%. The average market share of the Handling Segment rose by 0.5 percentage points over the comparable prior year period to 90.1%.
 
Slower decline in traffic
Vienna International Airport handled a total of 13,732,465 passengers during the period from January to September 2009, which represents a year-on-year decline of 10.3%. Traffic to Eastern Europe and Western Europe fell by 17.0% and 8.4%, respectively. Travel to the Middle East was least affected by the economic crisis, and increased 5.4% during the reporting period. The share of passengers handled by the Austrian Airlines Group continued to decline, totalling 49.4% for the first nine months (1-9/2008: 49.8%). The low-cost carriers handled 23.4% of the passengers at Vienna International Airport (1-9/2008: 23.2%), for a decline of 9.4%. Maximum take-off weight (MTOW) amounted to 5,445,848 tonnes, which is 8.6% lower than in the comparable prior year period. Cargo volume (air cargo and trucking) fell by 12.5% to 176,243 tonnes, and flight movements declined 9.8% to 183,783. Seat occupancy remained unchanged in comparison with the prior year at 68.8%.
 
Corporate spending
The major investment during the first nine months of 2009 was the terminal expansion VIE-Skylink at a cost of EUR 56.8 million. Other projects focused on the ramp in front of the airport building at
EUR 12.5 million, the new fire department headquarters and checkpoints at EUR 6.3 million, baggage sorting equipment at EUR 5.3 million, the guidance system at EUR 3.1 million, technical noise protection at EUR 1.9 million and a forwarding agent building at EUR 1.1 million.
 
 
New contracts for plant services on Skylink project
Contract negotiations between Flughafen Wien AG and the relevant firms and tenders for the continuation of construction on the terminal expansion VIE-Skylink are proceeding positively. An important step was completed with the signing of new contracts for the heating, air conditioning and ventilation systems as well as sanitary facilities, which bring a significant financial improvement for Flughafen Wien AG: ARGE HKL (a joint venture with Axima Gebäudetechnik GmbH, Siemens Bacon GmbH & Co KG and Ortner GmbH) was commissioned to carry out the work on the heating, air conditioning and ventilation systems. The contract for the sanitary facilities was awarded to Ortner GmbH. Contracts with 20 other firms are expected to be concluded in the coming weeks. Construction on this project should resume in mid-February 2010 and should be completed by July 2011. The goal of this temporary halt is to cut costs and reduce actual expenditures below the currently forecasted volume of EUR 830 million.
 
Outlook
Traffic data for October show a substantially slower decline in all traffic segments. In comparison with October of the previous year, the number of passengers fell by 2.9%. Flight movements and maximum take-off weight (MTOW) decreased 8.2% and 5.8%, respectively. The number of passengers travelling to Eastern Europe (scheduled and charter flights) was 12.3% lower in October 2009, while the other European destinations remain nearly stable with an increase of 0.2%. Traffic to the Middle East rose by 12.8% during the reporting period. In addition to the existing handling contract with Austrian Airlines, handling contracts were also concluded with other carriers and the market share of Flughafen Wien AG in this segment of business appears to be secure in any case at approx. 90% for 2010. In the cargo segment, Vienna International Airport surpassed the European average in spite of the weak economic environment, and is increasing its share of the market. The volume of cargo rose by 4.0% over the level recorded in October 2008. For 2009 Flughafen Wien AG is forecasting a decline of 9% in the number of passengers, 8% in maximum take-off weight (MTOW) and 8% in flight movements. The number of passengers handled at Vienna International Airport is expected to reach roughly
18 million by the end of 2009.
 

 

Consolidated Interim Financial Statements
Consolidated Income Statement in T EUR
1-9 /2009
1-9 /2008
Change in %
7-9/2009
7-9/2008
Revenue
374,353.6
417,966.2
-10.4
129,768.3
145,300.1
Other operating income
10,637.1
7,605.4
39.9
4,256.6
2,608.4
Operating income
384,990.7
425,571.5
-9.5
134,024.9
147,908.5
Consumables and services used
-26,991.6
-29,681.3
-9.1
-8,108.5
-8,882.1
Personnel expenses
-160,183.2
-164,982.4
-2.9
-52,579.1
-56,265.9
Other operating expenses
-65,212.0
-66,711.1
-2.2
-20,854.1
-22,979.5
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
132,603.9
164,196.7
-19.2
52,483.1
59,781.0
Depreciation and amortisation
-49,838.3
-51,387.5
-3.0
-16,413.3
-16,860.5
Earnings before interest and taxes (EBIT)
82,765.6
112,809.2
-26.6
36,069.8
42,920.5
Income from investments,
excl. companies at equity
225.0
406.0
-44.6
225.0
0.0
Net financing costs
-7,247.7
-7,484.9
-3.2
-3,821.9
-2,290.2
Other financial income/expense
-33.8
133.0
-125.4
0.0
0.0
Financial results, excl. companies at equity
-7,056.5
-6,945.9
1.6
-3,596.9
-2,290.2
Income from companies at equity
 3,362.5
3,405.1
-1.3
2,290.5
1,991.0
Financial results
-3,694.0
-3,540.8
4.3
-1,306.4
-299.3
Profit before taxes (EBT)
79,071.5
109,268.4
-27.6
34,763.4
42,621.3
Income taxes
-18,309.6
-24,544.2
-25.4
-8,136.1
-8,361.2
Net profit for the period
60,761.9
84,724.2
-28.3
26,627.3
34,260.1
Thereof attributable to:
 
 Shareholders of the parent
60,771.4
84,732.3
-28.3
26,630.5
34,260.2
 Minority interest
-9.5
-8.1
16.7
-3.2
-0.1
Earnings per share in EUR basic/diluted
 2.89
4.03
-28.3
1.26
1.63

 
Flughafen Wien Aktiengesellschaft
Announcement
 
The report by Flughafen Wien AG on the first three quarters from 1 January to 30 September 2009 is available to the general public at the company?s offices in 1300 Flughafen Wien and at Bank Austria, 1010 Vienna, Am Hof 2.
 
The Management Board
 
Flughafen Wien, 19 November 2009

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