Press Releases & News
Flughafen Wien Group:
4.8% increase in net profit to € 19.8 million for the first quarter of 2011
- EBITDA: + 1.2% to € 44.2 million
- EBIT: + 2.5% to € 28.0 million
- Net profit for the period: + 4.8% to € 19.8 million
- Passengers: + 5.5% to 4,106,266
The Flughafen Wien Group recorded revenue of € 131.5 million in the first quarter of 2011, which represents an increase
of 6.9% over the comparable prior year period. EBITDA amounted to € 44.2 million (+1.2%) and EBIT € 28.0 million
(+2.5%) for the first quarter. After the deduction of € 5.9 million in income tax expense (1?3/2010: € 6.2 million),
net profit for the period totalled € 19.8 million (1?3/2010: € 18.9 million). The development of earnings did not
match the growth in revenue, which led to a decline in the EBITDA margin to 33.6%
(1?3/2010: 35.5%) and in the EBIT margin to 21.3% (1?3/2010: 22.2%).
Segment revenue
Revenue recorded by the Flughafen Wien Group rose by 6.9% to € 131.5 million for the first three months of 2011 (1?3/2010: € 123.0 million). This revenue growth was supported by the increase in traffic and the new security charge. External revenue in the Airport Segment rose by € 5.1 million or 8.9% over the comparable prior year period to € 62.5 million. External revenue of € 39.8 million in the Handling Segment nearly matched the previous year. The Retail & Properties Segment recorded a 14.8% increase in revenue to € 25.6 million. External revenue from the Other Segments rose by € 0.4 million to € 3.6 million.
Growth in passenger traffic continues in the first quarter of 2011
Traffic remained on an upturn during the first quarter, in spite of the limitations caused by the political unrest in North Africa and the events in Japan. Vienna Airport handled a total of 4,106,266 passengers during this period, for a year-on-year increase of 5.5%. Transfers declined 0.1% in comparison with the first quarter of 2010, above all due to the events in Japan and the situation in North Africa. This development was contrasted by an increase of 6.0% in passenger traffic to Eastern Europe and stronger growth in travel to Spain and Turkey as alternative holiday destinations. The Middle East recorded above-average growth of 6.2% in passenger traffic.
The Austrian Airlines Group reported a 0.5% increase in passengers for the first quarter, but this airline’s share of total passenger traffic declined from 49.8% to 47.4%. The so-called low-cost carriers handled 10.4% more departing passengers during the reporting period, which represented 23.4% of passenger traffic in Vienna (1?3/2010: 22.3%). A total of 57,396 flight movements were registered, or 1.0% more than in the first quarter of 2010. Maximum take-off weight (MTOW) was 12.5% higher than the previous year at 1,914,538 tonnes, whereby this growth resulted from the use of larger aircraft. Cargo turnover (air cargo and trucking) rose by 1.8% to 71,668 tonnes. Seat occupancy amounted to 60.9%, versus 63.8% in the first quarter of 2010.
Skylink: continuation of construction and preparations for start-up
Work is proceeding to complete the terminal extension VIE-Skylink. The start of operations is planned for the first half of 2012 and, from the current point of view, this schedule will be met. Parallel to construction, preparations are underway for the start-up and test operations are expected to begin during the fourth quarter of 2011. The maximum costs for the VIE-Skylink total € 830.0 million and, from the present standpoint, the project will remain within this budget. Current information indicates that a complete range of general contractor services will, in all probability, not be required. Reserves of € 30 million were created for this function, but will presumably not be used in full.
Corporate spending
The major investments in the first quarter of 2011 included the terminal extension VIE-Skylink at € 25.2 million, security control lines at € 0.4 million, security systems at € 0.5 million, the revitalisation of bus gates at € 1.1 million and baggage sorting equipment at € 0.4 million. In addition, € 0.3 million was invested in technical noise protection, € 0.9 million in the guidance system and € 0.4 million in furnishings for the VIE-Skylink.
Outlook
Statistics for April point to growth in all traffic segments, and the number of passengers handled by Vienna Airport was 23.6% higher than in April 2010. Flight movements rose by 10.3% and total maximum take-off weight (MTOW) by 15.2%. Passenger traffic (scheduled and charter flights) to Eastern Europe and the Middle East increased 36.0% and 20.0%, respectively, during April 2011. Cargo turnover (air cargo and trucking) grew 0.3% to 25,561 tonnes. These positive developments are also attributable to the comparable prior year data, which were influenced by flight restrictions related to the volcanic ash cloud in April 2010. For 2011 Flughafen Wien is forecasting an increase of 5.0% in passengers, 3.0% in maximum take-off weight (MTOW) and 2.0% in flight movements.
Investments of approx. € 660.0 million are planned for the period from 2011 to 2015 (excluding land), whereby roughly € 290 million represent replacement investments. Other investments involve the terminal extension VIE-Skylink as well as expansion projects and technical noise protection. Investments of € 299 million are planned for 2011. This amount includes replacement investments, but does not include any expenditure for the third runway, the purchase of land or interest capitalised during construction.
For additional information contact:
Corporate Communications Flughafen Wien AG Investor Relations:
Peter Kleemann (+43-1-) 7007-23000 Judit Helenyi (+43-1-)7007-23126
Clemens Schleinzer (+43-1-) 7007-22399 Mario Santi (+43-1-) 7007-22826
Birgit Fehsler (+43-1-) 7007-22254 j.helenyi@viennaairport.com
p.kleemann@viennaairport.com m.santi@viennaairport.com
c.schleinzer@viennaairport.com
17/11 KP/PK 26. Mai 2011
Consolidated Interim Financial Statements
|
Consolidated Income Statement in T€ |
1-3/2011 |
1-3/2010 |
Change |
|---|---|---|---|
|
Revenue |
131,517.9 |
123,038.9 |
6.9 |
|
Other operating income |
3,744.1 |
4,324.4 |
-13.4 |
|
Operating income |
135,261.9 |
127,363.3 |
6.2 |
|
Consumables and services used |
-12,157.1 |
-12,819.7 |
-5.2 |
|
Personnel expenses |
-58,187.8 |
-52,635.5 |
10.5 |
|
Other operating expenses |
-20,692.6 |
-18,203.6 |
13.7 |
|
Earnings before interest, taxes, depreciation and amortisation (EBITDA) |
44,224.5 |
43,704.6 |
1.2 |
|
Depreciation and amortisation |
-16,176.2 |
-16,341.9 |
-1.0 |
|
Earnings before interest and taxes (EBIT) |
28,048.4 |
27,362.7 |
2.5 |
|
Interest income |
853.9 |
506.5 |
68.6 |
|
Interest expense |
-3,216.7 |
-2,564.3 |
25.4 |
|
Other financial expense/income |
10.4 |
10.8 |
-3.8 |
|
Financial results, excl. companies at equity |
-2,352.4 |
-2,047.0 |
14.9 |
|
Income from companies at equity |
-53.9 |
-220.8 |
-75.6 |
|
Financial results |
-2,406.4 |
-2,267.7 |
6.1 |
|
Profit before taxes (EBT) |
25,642.0 |
25,094.9 |
2.2 |
|
Income taxes |
-5,862.6 |
-6,219.7 |
-5.7 |
|
Net profit for the period |
19,779.4 |
18,875.2 |
4.8 |
|
Thereof attributable to: |
|
|
|
|
Equity holders of the parent |
19,779.9 |
18,876.2 |
4.8 |
|
Non-controlling interests |
-0.6 |
-1.1 |
-44.6 |
|
Earnings per share (in Euro) basic/diluted |
0.94 |
0.90 |
4.4 |
Flughafen Wien Aktiengesellschaft
Announcement
The report by Flughafen Wien AG on the first quarter from 1 January to 31 March 2011 is available to the general public at the company’s offices in 1300 Flughafen Wien and at Bank Austria, 1010 Vienna, Am Hof, and is also available in the Internet under http://ir.viennaairport.com, menu point “Publications“, sub-section “Other Publications“.
Flughafen Wien, 26.05.2011 The Management Board