- 21.08.2018, 08:00:20
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EANS-News: Flughafen Wien Group Continues Growth: More Passengers and Strong Earnings Improvement in the First Half of 2018
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Mid Year Results
Vienna Airport - Flughafen Wien Group Continues Growth: More Passengers and
Strong Earnings Improvement in the First Half of 2018
.) NET PROFIT FOR THE PERIOD**) increases substantially to EUR 72.4 million
(+20.4%)
.) REVENUE rises to EUR 373.5 million (+4.5%), EBITDA up to EUR 167.6 million
(+6.1%), EBIT improvement to EUR 104.5 million (+16.7%)
.) Traffic development in H1/2018: Passenger volume climbs 7.6% in the Flughafen
Wien Group and 5.5% at Vienna Airport
.) Strong passenger growth in July 2018: number of passengers up 8.5% in the
Flughafen Wien Group and 7.4% at Vienna Airport
.) New passenger record: more than 100,000 passengers for the first time on a
single day, with 100,229 travellers recorded on July 29, 2018
**) Net profit for the period before non-controlling interests
"The Flughafen Wien Group is successfully continuing its growth development in
the first half of 2018. Revenue and net profit for the period have risen
significantly, and the financial guidance is very positive, with an expected net
profit of more than EUR 148 million for the entire year 2018. Moreover, the
Airport City is steadily expanding. The new health centre at the airport will
open at the beginning of October. DHL is setting up a logistics campus, and
about 2,500 new jobs will be created in 2018 at the Airport City and the Airport
Region thanks to new airline bases and business location projects", explains
Günther Ofner, Member of the Management Board of Flughafen Wien AG.
"2018 will be a record summer for Vienna Airport. July was the first month in
airport history to surpass the threshold of 100,000 passengers on a single day.
We are also optimistic about the second half of the year. Numerous new flight
offerings such as a new long-haul flight connection to Shenzhen in China, new
destinations in Europe and several frequency increases are already set.
Therefore, we now expect passenger growth of more than 8% in the Group at 6% at
Vienna Airport", states Julian Jäger, Member of the Management Board of
Flughafen Wien AG.
Good traffic development in H1/2018: 7.6% rise in passenger volume in the
Flughafen Wien Group
The Flughafen Wien Group including its foreign strategic investments in Malta
Airport and Kosice Airport handled 15.1 million passengers in the period January
to June 2018, comprising a year-on-year increase of 7.6%.
5.5% increase in passengers handled by Vienna Airport
The number of passengers handled by Vienna Airport in the period January-June
2018 was up 5.5% to 11,840,245 travellers. The number of local passengers
climbed 5.7% in the first half-year 2018 and transfer passenger volume rose by
5.2%. The number of passengers to Western Europe was up 4.3%, and Eastern
European destinations showed passenger growth of 5.3%. Passenger volume to the
Far East rose by 32.3% in H1/2018, whereas passenger traffic to the Middle East
was up by 2.7%. The number of passengers flying to Africa showed a clearly
positive development with growth of 40.2%, and the total number of passengers
flying to North America was up slightly by 0.7%.
The number of flight movements in the period January to June 2018 increased by
3.2% from the prior-year level to 110,835 starts and landings. The average seat
occupancy (seat load factor) improved substantially from 71.9% to 73.8% in the
first half of 2018. Cargo volume increased by 3.5% in the same period to 142,605
tonnes (air cargo and trucking).
Good traffic and business development at Malta and Kosice airports
The foreign strategic investments of the Flughafen Wien Group in Malta and
Kosice airports are also developing very well. Malta Airport reported a strong
rise in passenger volume of 16.3% in the first half of 2018 to 3,069,673
passengers. Kosice Airport registered a considerable increase of 14.2% in a
year-on-year comparison, handling a total of 212,741 passengers.
Revenue up 4.5% in H1/2018 to EUR 373.5 million - significant improvement in
financial performance indicators
In the first half of 2018, the Flughafen Wien Group generated revenue of EUR
373.5 million, comprising a year-on-year increase of 4.5%, and EBITDA improved
by 6.1% to EUR 167.6 million. EBIT was up 16.7% to EUR 104.5 million, and the
improved financial results led to a 20.4% rise in the net profit for H1/2018 to
EUR 72.4 million. Net debt was reduced once again to EUR 190.4 million. The free
cash flow amounted to EUR 72.1 million (H1/2017: EUR 78.7 million).
Revenue and earnings development in the segments
Revenue in the Airport Segment in H1/2018 rose by 5.5% year-on-year to EUR 182.0
million. Segment EBIT improved to EUR 49.0 million (H1/2017: EUR 34.1 million).
The Handling and Security Services Segment registered a 0.9% rise in revenue to
EUR 80.4 million and reduced its EBIT to EUR 1.7 million (H1/2017: EUR 7.5
million). This segment also includes the security services of VIAS as well as
the handling services provided by Vienna Aircraft Handling (VAH) and Vienna
Passenger Handling Services (VPHS) as well as the services provided by
GetService Dienstleistungsgesellschaft m.b.H. The Retail & Properties Segment
reported a 1.4% rise in revenue to EUR 62.2 million, and EBIT of the segment was
up to EUR 32.6 million (H1/2017: EUR 29.3 million). Revenue of the Malta Segment
climbed by 11.5% to EUR 40.9 million, with segment EBIT improving to EUR 18.9
million (H1/2017: EUR 16.1 million). Revenue in the Segment "Other Segments"
amounted to EUR 8.0 million in H1/2018 (H1/2017: EUR 7.3 million), and segment
EBIT totalled EUR 2.3 million (H1/2017: EUR 2.6 million).
Investments
Total investments in the first six months of 2018 amounted to EUR 91.9 million.
The largest investment project related to payment obligations of the
environmental fund to the amount of EUR 56.8 million in connection with the 3rd
Runway project as a consequence of the official approval granted for the runway.
This was accompanied by investments of EUR 4.9 million earmarked for the
terminal development project, EUR 2.7 million for Office Park 4 and EUR 1.8
million for high-performance snow cutter blowers. A total of EUR 3.3 million was
invested in Malta Airport among others for terminal modernisation work and
airport traffic surfaces.
Continuation of the growth path: financial and passenger guidance for 2018
The company continues to expect passenger growth of at least 8% in the Flughafen
Wien Group in 2018 and at least 6% at Vienna Airport. Revenue is anticipated to
rise to more than EUR 770 million for the entire year and EBITDA is expected to
total more than EUR 350 million. From today's perspective, the net profit**) for
2018 will likely surpass EUR 148 million. Flughafen Wien AG confirms its
original financial guidance of EUR 175 million with respect to investments and
net debt at a level below EUR 250 million.
**) Net profit for the period before non-controlling interests
Traffic development in July 2018:
Flughafen Wien Group handles 3.6 million passengers (+8.5%)
In July 2018, the number of passengers handled by the Flughafen Wien Group
(Vienna Airport, Malta Airport, Kosice Airport) showed an increase of 8.5% to
3.6 million travellers. Accumulated passenger volume in the period January to
July 2018 was up 7.8% to 18.7 million travellers. Vienna Airport also developed
very well, registering 5.8% growth to 14,570,749 passengers in the months
January-July 2018.
Vienna Airport: Strong growth in passengers and flight movements - More than
100,000 passengers per day for the first time
The number of passengers handled by Vienna Airport in the month of July 2018
rose by 7.4% compared to the prior-year month to 2,730,440 travellers. July 29,
2018 marked the busiest day in the airport's history, with 100,229 passengers.
(The previous record was June 29, 2018 featuring 97,845 passengers).
The number of local passengers rose significantly by 10.9%, whereas transfer
passenger volume declined slightly by 0.8%. In July 2018, the number of flight
movements increased by 6.0% in a year-on-year comparison. Cargo volume at Vienna
Airport showed a rise of 4.0% from the comparable level of July 2017.
The total number of passengers at Vienna Airport flying to destinations in
Western Europe was up 8.0% in July 2018 in contrast to the 1.1% decline in
passenger traffic to Eastern Europe. In July 2018, the number of passengers
travelling to the Far East increased by 36.8% from the prior-year month, and
passenger volume to Middle Eastern destinations climbed by 10.6%. The number of
passengers travelling to North America was stable, showing a marginal drop of
0.2%, whereas passenger traffic to Africa rose by 13.2%.
Malta Airport reported strong growth in passenger volume of 12.1% in the month
of July 2018, and Kosice Airport also showed a gratifying year-on-year rise of
12.9% in the number of passengers it handled.
Traffic development July 2018
______________________________________________________________________________ | | |Vienna Airport (VIE) | |______________________________________________________________________________| | | 07/2018| Change| 01-07/2018| Change | |_______________|______________|___________in_%|_______________|___________in_%| |Passengers | 2,730,440| +7.4| 14,570,749| +5.8| |arr+dep+transit|______________|_______________|_______________|_______________| |Local | | | | | |passengers | 1,979,545| +10.9| 10,791,796| +6.6| |arr+dep________|______________|_______________|_______________|_______________| |Transfer | | | | | |passengers | 740,380| -0.8| 3,722,138| +3.9| |arr+dep________|______________|_______________|_______________|_______________| |Flight | | | | | |movements | 22,404| +6.0| 133,239| +3.6| |arr+dep________|______________|_______________|_______________|_______________| |Cargo in tonnes| 25,493| +4.0| 168,098| +3.6| |arr+dep_in_to__|______________|_______________|_______________|_______________| |MTOW_in_tonnes_|_______890,568|___________+6.4|______5,281,876|___________+4.0| | | |Malta Airport (MLA, fully consolidated) | |______________________________________________________________________________| | | 07/2018| Change | 01-07/2018| Change | |_______________|______________|___________in_%|_______________|___________in_%| |Passengers | 756,356| +12.1| 3,826,029| +15.4| |arr+dep+transit|______________|_______________|_______________|_______________| |Local | | | | | |passengers | 750,295| +11.8| 3,803,320| +15.4| |arr+dep________|______________|_______________|_______________|_______________| |Transfer | | | | | |passengers | 5,720| +90.3| 21,994| +59.7| |arr+dep________|______________|_______________|_______________|_______________| |Flight | | | | | |movements | 5,076| +11.3| 27,685| +15.6| |arr+dep________|______________|_______________|_______________|_______________| |Cargo in tonnes| 1,360| +17.1| 9,258| +10.3| |arr+dep_in_to__|______________|_______________|_______________|_______________| |MTOW_in_tonnes_|_______199,288|__________+10.9|______1,109,614|__________+15.1| | | |Kosice Airport (KSC, consolidated at equity) | |______________________________________________________________________________| | | 07/2018| Change | 01-07/2018| Change | |_______________|______________|___________in_%|_______________|___________in_%| |Passengers | 89,666| +12.9| 302,479| +13.9| |arr+dep+transit|______________|_______________|_______________|_______________| |Local | | | | | |passengers | 88,955| +12.8| 294,351| +14.0| |arr+dep________|______________|_______________|_______________|_______________| |Transfer | | | | | |passengers | 0| n.a.| 0| n.a.| |arr+dep________|______________|_______________|_______________|_______________| |Flight | | | | | |movements | 776| -0.8| 3,611| +2.4| |arr+dep________|______________|_______________|_______________|_______________| |Cargo in tonnes| 7| +29.7| 38| +37.5| |arr+dep_in_to__|______________|_______________|_______________|_______________| |MTOW_in_tonnes_|________21,871|___________-1.5|_________85,503|___________+1.4| | | |Vienna Airport and strategic investments (VIE, MLA, KSC) | |______________________________________________________________________________| | | 07/2018| Change | 01-07/2018| Change | |_______________|______________|___________in_%|_______________|___________in_%| |Passengers | 3,576,462| +8.5| 18,699,257| +7.8| |arr+dep+transit|______________|_______________|_______________|_______________| |Local | | | | | |passengers | 2,818,795| +11.2| 14,889,467| +8.9| |arr+dep________|______________|_______________|_______________|_______________| |Transfer | | | | | |passengers | 746,100| -0.5| 3,744,132| +4.2| |arr+dep________|______________|_______________|_______________|_______________| |Flight | | | | | |movements | 28,256| +6.7| 164,535| +5.4| |arr+dep________|______________|_______________|_______________|_______________| |Cargo in tonnes| 26,860| +4.6| 177,394| +3.9| |arr+dep_in_to__|______________|_______________|_______________|_______________| |MTOW_in_tonnes_|_____1,111,727|___________+7.0|______6,476,993|___________+5.7|
Note: Total number of passengers includes local, transfer, and transit
passengers.
Retroactive adjustment of comparative values for 2017 and transit figures in
Kosice
Consolidated Financial Statement
______________________________________________________________________________ |in EUR million | H1/2018| H1/2017| Change | |__________________|___________________|___________________|_______________in_%| |Revenue___________|______________373.5|______________357.5|_______________+4.5| |Other operating | 8.9| 5.6| +59.3| |income____________|___________________|___________________|___________________| |Operating_income__|______________382.4|______________363.1|_______________+5.3| |__________________|___________________|___________________|___________________| |Expenses for | | | | |consumables and | -20.0| -18.6| +7.4| |services_used_____|___________________|___________________|___________________| |Personnel_expenses|_____________-145.2|_____________-137.3|_______________+5.8| |Other operating | -50.7| -50.6| +0.3| |expenses__________|___________________|___________________|___________________| |Proportional share| | | | |of income from | 1.0| 1.2| -12.8| |companies recorded| | | | |at_equity_________|___________________|___________________|___________________| |Earnings before | | | | |interest, taxes, | | | | |depreciation and | 167.6| 157.9| +6.1| |amortisation | | | | |(EBITDA)__________|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Depreciation and | -63.1| -67.6| -6.7| |amortisation______|___________________|___________________|___________________| |Impairment________|________________0.0|_______________-0.7|_____________-100.0| |Earnings before | | | | |interest and taxes| 104.5| 89.6| +16.7| |(EBIT)____________|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Income from | | | | |investments, | | | | |excluding | 0.3| 0.5| -28.7| |companies recorded| | | | |at_equity_________|___________________|___________________|___________________| |Interest_income___|________________0.2|________________0.4|______________-46.0| |Interest_expense__|_______________-8.3|_______________-9.3|______________-11.1| |Other financial | 1.5| 0.1| n.a.| |result____________|___________________|___________________|___________________| |Financial_result__|_______________-6.3|_______________-8.4|______________+25.0| |__________________|___________________|___________________|___________________| |Earnings before | 98.2| 81.2| +20.9| |taxes_(EBT)_______|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Income_taxes______|______________-25.9|______________-21.1|______________+22.6| |Net profit for the| 72.4| 60.1| +20.4| |period____________|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Thereof | | | | |attributable_to:__|___________________|___________________|___________________| |Equity holders of | 66.1| 54.9| +20.4| |the_parent________|___________________|___________________|___________________| |Non-controlling | 6.2| 5.2| +20.2| |interests_________|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Earnings per share| | | | |(in EUR, basic = | 0.79| 0.65| +20.4| |diluted)__________|___________________|___________________|___________________|
Balance Sheet Indicators
______________________________________________________________________________ |in EUR million | 30.06.2018| 31.12.2017| Change | |__________________|___________________|___________________|_______________in_%| |ASSETS:___________|___________________|___________________|___________________| |Non-current_assets|____________1,898.7|____________1,870.9|_______________+1.5| |Current_assets____|______________197.2|______________192.1|_______________+2.6| |__________________|___________________|___________________|___________________| |LIABILITIES:______|___________________|___________________|___________________| |Equity____________|____________1,223.2|____________1,211.0|_______________+1.0| |Non-current | 551.1| 601.3| -8.3| |liabilities_______|___________________|___________________|___________________| |Current | 321.5| 250.7| +28.2| |liabilities_______|___________________|___________________|___________________| |__________________|___________________|___________________|___________________| |Total_assets______|____________2,095.9|____________2,063.0|_______________+1.6| |__________________|___________________|___________________|___________________| |Net_debt__________|______________190.4|______________227.0|______________-16.1| |Gearing_(in%)_____|_______________15.6|_______________18.7|_______________n.a.|
Cash flow
_____________________________________________________________________________ |in EUR million| H1/2018| H1/2017| Change| |______________|____________________|____________________|________________in_%| |Net_cash_flow_from___________________________________________________________| |operating | 128.9| 136.1| -5.3| |activities____|____________________|____________________|____________________| |investing | -56.8| -57.4| -1.1| |activities____|____________________|____________________|____________________| |financing | -98.1| -73.8| +32.9| |activities____|____________________|____________________|____________________| |______________|____________________|____________________|____________________| |Free_cash_flow|________________72.1|________________78.7|________________-8.4| |______________|____________________|____________________|____________________| |CAPEX**)______|________________91.9|________________61.3|_______________+49.9|
**) Excluding financial assets
The report by Flughafen Wien AG for the first half year of 2018, from January 1
to June 30, 2018, is available to the general public at the company's offices at
1300 Flughafen Wien and at Bank Austria, 1010 Vienna, Schottengasse 6-8. It is
also available on the Internet at http://viennaairport.com/en/company/
investor_relations/publications_and_reports/quarterly_reports [http://
viennaairport.com/en/company/investor_relations/publications_and_reports/
quarterly_reports]
Further inquiry note:
Investor Relations:
Mag. Judit Helenyi (+43-1)7007-23126; [email protected]
Mario Santi (+43-1)7007-22826; [email protected]
end of announcement euro adhoc
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issuer: Flughafen Wien AG
Postfach 1
A-1300 Wien-Flughafen
phone: +43 1 7007 - 22826
FAX: +43 1 7007 - 23806
mail: [email protected]
WWW: http://viennaairport.com/unternehmen/investor_relations
ISIN: AT00000VIE62
indexes:
stockmarkets: Wien
language: English
ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE
