Company profile – Flughafen Wien AG
- Vienna Airport, Europe’s 17th largest airport with 31.7 million PAX in 2019 (#18 in 2022 with 23.7 million PAX), is run by Flughafen Wien AG
- Lufthansa hub, home carrier Austrian Airlines (approx. 45% market share)
- Strong growth of low-cost carriers in recent years (approx. 30% market share)
- Focus on intra-European routes, important transfer hub to Central/Eastern European destinations (Austrian Airlines serves several SEE destinations exclusively), attractive long-haul routes
- Large catchment area (Eastern Austria as well as Czech Republic, Slovakia and Hungary)
- Non-aviation growth thanks to the terminal expansion and development of the “AirportCity“
PAX Vienna Airport
2019: 31.7 mn
2022: 23.7 mn
2023e: approx. 28.5 mn
(incl. Malta Airport, Kosice)
2019: 39.5 mn
2022: 30.1 mn
2023e: approx. 36.5 mn
Revenue
2019: € 858 mn
2022: € 693 mn
2023e: significantly
>€ 830 mn
EBITDA
2019: € 385 mn
2022: € 296 mn
2023e: significantly
>€ 325 mn
Mcap: € 4.3 bn
ISIN: AT00000VIE62
Bloomberg: FLU AV
Reuters: VIEV.VI
Prim. listing: Vienna Stock Exchange
The Flughafen Wien Group
Business model
The Flughafen Wien Group (FWAG Group) is made up of three international airports in Austria (Vienna), Malta and Slovakia (Košice) and the Bad Vöslau airfield, also in Austria. Vienna Airport acts as an important hub for flights from/to Eastern Europe, is one of the largest employers in Eastern Austria and with its fully consolidated subsidiaries employed 4,696 full-time equivalent (FTE) staff with a headcount of 6,575 on an annual average. In 2022, 30.1 million passengers (2021: 13.1 million, 2020: 9.7 million; 2019: 39.5 million) were handled at the Group’s three international airports.
The five segments of the Group’s operating activities
Airport
The Airport segment is responsible for the operation and maintenance of all movement areas of the terminal, the facilities involved in passenger and baggage handling, as well as security controls for passengers and hand luggage at Vienna Airport, the acquisition of new airlines and the increase in the number of destinations.
Handling & Security Services
The Handling & Security Services segment provides services for aircraft and passenger handling of scheduled, charter and general aviation traffic. In addition to ramp, cargo and passenger handling, this also includes the provision of security services, checks of passengers and hand luggage and general aviation, which guarantees short turnarounds and a high level of punctuality and provides tailor-made offerings for our customers.
Retail & Properties
Passengers, users of parking facilities, hotel guests, conference participants, employees at the site, and meeters and greeters are important target groups in the Retail & Properties segment. Substantial contributions to income come from advertising revenue, centre management and hospitality with shopping and food & beverages, passenger services (lounges, VIP), parking and the rental of office and cargo space.
Malta
The Malta segment includes Malta Airport (Malta International Airport plc, MIA) and its direct investments (hereinafter referred to as the MIA Group), which together operate Malta Airport. Revenue is generated from aviation services, parking and the rental of retail and office space.
Other Segments
The reporting segment “Other Segments” includes a wide range of services for the other operating segments of the Flughafen Wien Group and external customers, as well as those subsidiaries that hold shares in foreign associates and joint ventures (e.g. at Košice Airport) and that have no other operating activities.
Traffic figures
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Passenger development of the Group | ||||||||||
| Vienna Airport (in mill.) | 23,7 | 10,4 | 7,8 | 31,7 | 27,0 | 24,4 | 23,4 | 22,8 | 22,5 | 22,0 |
| Malta Airport (in mill.) | 5,9 | 2,5 | 1,7 | 7,3 | 6,8 | 6,0 | 5,1 | 4,6 | 4,3 | 4,1 |
| Košice Airport (in mill.) | 0,5 | 0,2 | 0,1 | 0,6 | 0,5 | 0,5 | 0,4 | 0,4 | 0,4 | 0,2 |
| Vienna Airport and strat. investments (VIE, MLA, KSC) | 30,1 | 13,1 | 9,7 | 39,5 | 34,4 | 30,9 | 28,9 | 27,8 | 27,1 | 26,3 |
| Traffic development Vienna Airport | ||||||||||
| Passengers (in mill.) | 23,7 | 10,4 | 7,8 | 31,7 | 27,0 | 24,4 | 23,4 | 22,8 | 22,5 | 22,0 |
| Thereof transfer passengers (in mill.) | 5,8 | 2,5 | 1,5 | 7,2 | 6,7 | 6,4 | 6,2 | 6,3 | 6,5 | 6,8 |
| Aircraft movements | 188.412 | 111.567 | 95.880 | 266.802 | 241.004,0 | 224.568,0 | 226,4 | 226.811,0 | 230.781,0 | 231.179,0 |
| MTOW (in mill. tonnes)1) | 7,9 | 4,7 | 4,0 | 10,9 | 9,6 | 8,8 | 8,7 | 8,4 | 8,2 | 7,9 |
| Cargo (air cargo and trucking; in tonnes) | 250.637 | 261.299 | 217.888 | 283.806 | 295.427,0 | 287.962,0 | 282.726,0 | 272.575,0 | 277.532,0 | 256.194,0 |
| Seat load factor | 77,6 | 62,5 | 57,4 | 77,3 | 76,0 | 74,8 | 73,4 | 74,3 | 75,0 | 74,8 |
1) MTOW: Maximum Take-off Weight (Höchstabfluggewicht) der Luftfahrzeuge
Financial indicators
| (in € million, excluding employees) | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 692,7 | 407,0 | 333,7 | 857,6 | 799,7 | 753,2 | 741,6 | 720,2 | 693,4 | 679,9 |
| Thereof Airport | 321,0 | 169,5 | 133,0 | 411,7 | 381,7 | 368,2 | 370,8 | 359,2 | 344,1 | 331,4 |
| Thereof Handling & Security Services | 124,9 | 94,4 | 86,1 | 166,3 | 163,3 | 160,7 | 158,4 | 151,3 | 145,7 | 151,9 |
| Thereof Retail & Properties | 138,8 | 82,4 | 70,5 | 162,6 | 146,4 | 126,1 | 123,9 | 128,2 | 123,8 | 121,2 |
| Thereof Malta | 88,0 | 47,4 | 32,2 | 100,3 | 92,2 | 82,4 | 73,1 | 67 | 64,3 | 58,8 |
| Thereof Other Segments | 20,0 | 13,3 | 11,9 | 16,7 | 16,2 | 15,7 | 15,4 | 14,5 | 15,6 | 16,6 |
| EBITDA | 295,9 | 154,4 | 54,1 | 384,8 | 350,4 | 326,5 | 329,8 | 312,5 | 288,8 | 272 |
| EBITDA margin (in %) | 42,7 | 37,9 | 16,2 | 44,9 | 43,8 | 43,3 | 44,5 | 43,4 | 41,7 | 40 |
| EBIT | 167,2 | 20,0 | -86,5 | 252,3 | 220,8 | 191,8 | 172 | 171,8 | 149,4 | 134,6 |
| EBIT margin (in %) | 24,1 | 4,9 | -25,9 | 29,4 | 27,6 | 25,5 | 23,2 | 23,9 | 21,5 | 19,8 |
| ROCE (in %) | 9,7 | 1,2 | -4,9 | 13,9 | 12,5 | 11 | 9,8 | 9,6 | 8,0 | 7,0 |
| ROCE after tax (in %) | 7,3 | 0,9 | -3,7 | 10,4 | 9,4 | 8,2 | 7,4 | 7,2 | 6,0 | 5,3 |
| Net profit | 128,1 | 6,6 | -75,7 | 175,7 | 151,9 | 126,9 | 112,6 | 111,8 | 91,9 | 80,7 |
| Net profit parent company | 107,9 | 3,7 | -72,8 | 158,9 | 137,3 | 114,7 | 102,6 | 100,3 | 82,6 | 72,4 |
| Cash flow from operating activities | 337,6 | 105,8 | -23,0 | 373,0 | 119,2 | 277,9 | 255,1 | 255,5 | 238,3 | 232,1 |
| Capital expenditure | 53,6 | 51,6 | 79,9 | 171,8 | 165,7 | 103,6 | 92,0 | 87,1 | 81,0 | 79,0 |
| Equity | 1.448,5 | 1.314,5 | 1.305,5 | 1.380,9 | 1297,0 | 1211,0 | 1144 | 1139,3 | 1068,8 | 1019,1 |
| Equity ratio (in %) | 65,1 | 63,4 | 60,1 | 60,0 | 60,1 | 58,7 | 56,7 | 52,5 | 49,7 | 46,0 |
| Net liquidity (previous year: net debt) | 149,4 | -150,4 | -201,9 | -81,4 | 198,2 | 227 | 355,5 | 487,8 | 541,9 | 675,1 |
| Total assets | 2.224,9 | 2.073,8 | 2.173,3 | 2.300,6 | 2158,1 | 2063 | 2018,3 | 2170,9 | 2152,2 | 2215,5 |
| Gearing (in %) | -10,3 | 11,5 | 15,5 | 5,9 | 15,3 | 18,7 | 31,1 | 42,8 | 50,7 | 66,2 |