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Press Releases & News

| Press releases
Flughafen Wien Group: 13.7% increase in net profit to € 43.3 million for the first half of 2011
  • Revenue: +10.7% to € 280.3 million
  • EBITDA: + 15.0% to € 98.5 million
  • EBIT: + 25.5% to € 66.0 million
  • Passengers: + 8.6% to 9,663,194
  • Revised forecasts for 2011: + 5.0% in passengers, + 3.0% in maximum take-off weight (MTOW) and + 1.0% in flight movements
The Flughafen Wien Group generated revenue of € 280.3 million in the first half of 2011, which represents an increase of 10.7% over the comparable prior year period. EBITDA totalled € 98.5 million (+15.0%) and EBIT € 66.0 million (+25.5%) for the reporting period. After the deduction of € 14.9 million in income tax expense (1-6/2010: € 11.8 million), net profit for the period amounted to € 43.3 million (1-6/2010: € 38.1 million). The development of earnings outpaced the growth in revenue, which led to an improvement in the EBITDA margin to 35.1% (1-6/2010: 33.8%) and in the EBIT margin to 23.6% (1-6/2010: 20.8%).
Segment revenue
The Flughafen Wien Group generated revenue of € 280.3 million in the first six months of 2011 (1-6/2010: € 253.2 million). This 10.7% increase resulted from the positive development of traffic as well as the new security charge. External revenue in the Airport Segment rose by € 14.0 million or 11.2% over the comparable prior year period to € 138.8 million. The growth in traffic was also responsible for an increase in external revenue recorded by the Handling Segment, which rose by 4.0% to € 79.7 million. The Retail & Properties Segment recorded a plus of 20.7% in revenue to € 53.9 million. External revenue recorded by the Other Segments increased € 1.1 million to € 7.8 million.
Write-off of investment in Friedrichshafen GmbH
In the second quarter of 2007 a 25.15% stake in Flughafen Friedrichshafen GmbH was acquired for a purchase price (including transaction costs) of € 7.7 million. This investment is carried at equity. The acquisition was originally made under the presumption of double-digit growth, strong economic progress and the positive development of this region for tourism. The company’s negative development in recent years led to a series of reductions in the carrying amount of the investment as part of the at equity valuation to € 5.7 million as of 31 March 2011. The new medium-term planning for Flughafen Friedrichshafen GmbH, which reflects the latest developments, shows that the financial goals cannot be met during the forecast period. A decision was therefore made to write off this investment in full.
Steady growth in passenger traffic during first half of 2011
Vienna Airport handled a total of 9,663,194 passengers during the period from January to June 2011, for a year-on-year increase of 8.6%. This growth reflected the general economic recovery as well as the interruption in air traffic across Europe during the previous year as a result of the volcanic ash cloud. The number of transfer passengers rose by 4.6%. Traffic to Eastern Europe grew by 12.6% during the first half of 2011 to comprise 18.3% of all departing passengers. Passenger traffic to the Middle East and the Far East increased by 4.1% and 5.2%, respectively.
The Austrian Airlines Group recorded an increase of 3.4% in the number of passengers handled at Vienna Airport during the first half of 2011, but this carrier’s share of total passenger traffic fell from 51.4% to 49.0% year-on-year. The so-called low-cost carriers handled 12.9% more departing passengers during the reporting period, which represents 22.6% of passenger traffic in Vienna (1-6/2010: 21.8%). Maximum take-off weight (MTOW) totalled 4,065,977 tonnes, or 8.6% more than the comparable prior year period, and reflected the use of larger aircraft. Cargo turnover (air cargo and trucking) declined 3.9% to 142,516 tonnes, while flight movements increased 1.4%. The seat occupancy factor reached 66.2%, compared with 66.1% in the first half of 2010.
Skylink: work to complete the project is on schedule
Work is proceeding to complete the terminal extension VIE-Skylink, and the start of operations is planned for the first half of 2012. Parallel to construction, preparations are underway for the start-up and test operations are expected to begin during the fourth quarter of 2011. Full operations are scheduled to begin at the end of the first half of 2012. Since a general contractor will not be engaged for this project, the budgeted costs for the VIE Skylink were reduced by € 30 million to a maximum of € 800.0 million.
Corporate spending
The major investments during the first six months of 2011 represented the terminal extension VIE-Skylink at € 79.9 million, security control lines at € 1.4 million, security systems for the VIE-Skylink at € 2.1 million, the revitalisation of bus gates at € 3.7 million and baggage sorting equipment at € 0.7 million. Other investments included € 2.5 million for technical noise protection, € 3.0 million for IT hardware and software, € 1.1 million in guidance system and € 1.2 million in furnishings for the VIE-Skylink.
Data for July point to growth in all traffic segments, with a year-on-year increase of 6.0% in passenger traffic during that month. Flight movements declined 2.2% and maximum take-off weight (MTOW) was slightly lower at 739,053 tonnes. Passenger traffic (scheduled and charter flights) to Eastern Europe and the Middle East rose by 12.2% and 4.5%, respectively, in July 2011. Cargo turnover (air cargo and trucking) declined 2.2% to 21,118 tonnes. Flughafen Wien AG has revised its forecasts for 2011 and is now expecting an increase of 5.0% in passengers, 3.0% in maximum take-off weight (MTOW) and 1.0% in flight movements.
For additional information contact:
Corporate Communications Flughafen Wien AG                   
Peter Kleemann (+43-1-) 7007-23000                                        
Clemens Schleinzer (+43-1-) 7007-22399                                  
Birgit Fehsler (+43-1-) 7007-22254                                            


Investor Relations:
Judit Helenyi (+43-1-)7007-23126
Mario Santi (+43-1-) 7007-22826
Consolidated Interim Financial Statements
Consolidated Income Statement in T
in %
Other operating income
Operating income
Consumables and services used
Personnel expenses
Other operating expenses
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
Depreciation and amortisation
Earnings before interest and taxes (EBIT)
Income from investments, excl. Companies at equity
Interest income
Interest expense
Other financial expense/income
Financial results, excl. companies at equity
Income from companies at equity
Financial results
Profit before taxes (EBT)
Income taxes
Net profit for the period
Thereof attributable to:
Equity holders of the parent
Non-controlling interests
Earnings per share (in Euro) basic/diluted
Flughafen Wien Aktiengesellschaft
The report by Flughafen Wien AG on the first half-year from 1 January to 30 June 2011 is available to the general public at the company’s offices in 1300 Flughafen Wien and at Unicredit Bank Austria AG, 1010 Vienna, Schottengasse 6-8, and is also available in the Internet under, menu point “Publications“, sub-section “Quarterly reports”.
Flughafen Wien, 25.08.2011                                                           
The Management Board