Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2023 Earnings Presentation
30 slides from Flughafen Wien's earnings presentation, Feb 28, 2024
Slide 1: Flughafen Wien AG Annual Results 2023 & Outlook
28/02/2024 Flughafen Wien AG Annual Results 2023 & Outlook 1
Slide 2: Financial year 2023
Financial year 2023 Good business development in all areas 2023 was a successful year − Good business development in all areas − Substantial revenue and earnings increases: Revenue: € 931.5 million (+34%) EBITDA: € 393.6 million (+33%) EBIT: € 261.8 million (+57%) Group net profit: € 188.6 million (
Slide 3: Outlook 2024
Outlook 2024 Significant increase in investments planned Good performance supports the investment drive − Investments will be doubled in 2024 to more than € 200 million (2023: € 107 million) − Financing of investments from the cash flow; also for the Southern Expansion project Positive outlook for 2
Slide 4: Financial indicators reflect the positive development
Financial indicators reflect the positive development Clearly improved financial result € million* 2023 2022 Δ Revenue 931.5 692.7 34.5% Earnings before interest, tax, depreciation and amortisation 393.6 295.9 33.0% (EBITDA) Earnings before interest and taxes (EBIT) 261.8 167.2 56.6% Financial resul
Slide 5: Revenue and earnings in 2023 above the comparable figures for 2019
Revenue and earnings in 2023 above the comparable figures for 2019 Group PAX (millions) Revenue (€ million) − Revenue and earnings in 2023 were higher than the comparable figure for 2019 although the Group passenger volume was still 4% below the pre-crisis level 39.5 931.5 38.0 857.6 EBITDA (€ milli
Slide 6: Sharp increase in operating costs
Sharp increase in operating costs Considerable rise in personnel expenses € million 2023 2022 Δ Consumables and services used -54.1 -44.5 21.4% Personnel expenses -349.4 -272.3 28.3% Other operating expenses1 -142.6 -95.7 49.0% Depreciation and amortisation -131.8 -131.1 0.5% EBITDA margin 42.2% 42.
Slide 7: Equity ratio of 70.9%
Equity ratio of 70.9% Robust cash flow development € million 2023 2022 Δ Cash flow from operating activities 384.8 337.6 14.0% Free cash flow 228.2 33.1 n.a. CAPEX1 107.0 53.6 99.4% Net liquidity 361.9 149.4 142.3% Equity 1,556.4 1,448.5 7.5% Equity ratio 70.9 65.1 n.a. − Robust development of the c
Slide 8: Strong balance sheet structure
Strong balance sheet structure Perceptible increase in equity 2.301 2.173 2.225 2.194 301 2.074 347 293 291 333 345 313 258 537 532 573 483 293 535 501 2.000 1.883 1.762 1.688 1.663 1.556 1.381 1.314 1.448 1.305 AssetsLiabilities AssetsLiabilities AssetsLiabilities AssetsLiabilities AssetsLiabilitie
Slide 9: A positive incentive for shareholders
A positive incentive for shareholders Substantial increase in the dividend to € 1.32/share Dividend per share (€) − Dividend increase of around 70%: dividend 1,4 proposal of € 1.32 per share for 2023 (€ 0.77 in 1,3 2022) corresponds to a payout ratio of around 1,2 1,1 66% (net profit for the period
Slide 10: Aviation returns to growth
Aviation returns to growth Long-term PAX, sales and EBITDA growth PAX, revenue and EBITDA growth − Covid-19 slump has largely been made up for 900 35 − Global fleet to double to approx. 48,600 800 30 aircraft (around +3.5% p.a.) by 2042 700 (according to market studies by Airbus and 25 Boeing), with
Slide 11: Highlights of ongoing and planned investments
Highlights of ongoing and planned investments At and around the airport Vienna Airport increases investments in a phase of weakening construction activity − Southern Expansion: Extension of Terminal 3 Investment volume of € 420 million Intensive construction phase is already underway − Photovoltaic
Slide 12: Transport infrastructure needs to be expanded
Transport infrastructure needs to be expanded Expansion of the railway connection and Lobau tunnel necessary − Presentation of “Target Network 2040“ of the Austrian Federal Railways to strengthen international rail links and connectivity of urban areas − Vienna Airport can be reached better via the
Slide 13: Vienna Airport as a job engine for the region
Vienna Airport as a job engine for the region More than 23,000 employees at the site - major growth expected in 2024 − Vienna Airport is seen as an attractive employer - currently no recruiting problems, fluctuation significantly reduced − FWAG + subsidiaries: net increase plus 650 employees, a tota
Slide 14: Financial guidance for 2024
Financial guidance for 2024 shows an improvement in all financial indicators Revenue approx. € 970 million EBITDA above € 390 million 1 Group net profit at least € 210 million CAPEX above € 200 million − Strong financial position enables financing of increasing investments from the cash flow 1) befo
Slide 15: Very strong share price development, rise of more than 600% since 2012
Share price (performance in % since 1/1/2012) Market capitalisation (€ million) Very strong share price 800 9000 development, rise of 700 8000 more than 600% since 600 7000 2012 500 6000 5000 400 Substantial increase in 300 4000 market capitalisation 3000 200 2000 100 Current market 1000 capitalisat
Slide 16: Traffic development & segment results
Traffic development & segment results 16 16
Slide 17: Strong traffic results in 2023
Strong traffic results in 2023 About 30 million passengers expected in 2024 Successful traffic year in 2023 − Strong sales and earnings growth - passenger growth as the strongest earnings driver 2023: 29.5 million passengers (+24.7% compared to 2022) - corresponds to 93.3% of the record year 2019 Ai
Slide 18: Airport
Airport Passenger growth leads to record revenue − Revenue increase mainly driven by passenger € million 2023 2022 Δ growth. Passenger-related fees up 47% yoy to External revenue 440.1 321.0 37.1% € 315 million. EBITDA 176.7 127.2 38.9% − Segment revenue up 7% vs. 2019 − 9.7% upward adjustment of pa
Slide 19: Seat load factor: record capacity utilisation in 2023
Seat load factor: record capacity utilisation in 2023 Increased capacities due to larger aircraft and higher utilisation Development of seats per flight movement & seat load factor − Record capacity utilisation of aircraft in 2023 175 85% 165 − Seat load factor of 80.5% in 2023, rise of 3.2%p 80% vs
Slide 20: Sustainable, long-term PAX growth
PAX European airports (millions)1 Sustainable, PAX (in Mio). PAX Vienna Airport (millions) PAX (in Mio). long-term PAX 3.000 CAGR 2000-2019 4.7% 35,0 CAGR 2000-2019 5.3% growth 2.500 2.000 30,0 25,0 1.500 20,0 Trend growth and quick 15,0 1.000 recovery after 10,0 downturns 500 5,0 - - Growth of Vien
Slide 21: Handling & Security Services
Handling & Security Services Clearly positive EBIT in 2023 − Sharp rise in ground handling revenue (apron € million 2023 2022 Δ and traffic handling) of 40% to € 113 million as External revenue 165.7 124.9 32.6% a result of growth in flight movements (+17.3%) and MTOW increase (+18.2%) EBITDA 14.6 5
Slide 22: Retail & Properties
Retail & Properties Passenger-driven revenue drives the sharp rise in earnings − Significant revenue increases for Center € million 2023 2022 Δ Management & Hospitality (+39% to External revenue 182.5 138.8 31.5% € 93 million) and parking (+33% to € 56 million) related to the increase in passenger t
Slide 23: Malta Airport
Malta Airport Booming vacation traffic leads to leap in revenue and earnings − Growth in passenger traffic of 33.4% to 7.8 million passengers in 2023 - Passenger volumes every month were higher than in 2019 - Ongoing strong momentum in January 2024 – 23% more passengers − Revised guidance (Nov. 2023
Slide 24: Traffic development January 2024
Traffic development January 2024 Ongoing good momentum at the start of the year Traffic development at Vienna Group passenger development 01/2024 Δ 01/2023 01/2024 Δ 01/2023 Airport Vienna Airport (millions) 1.8 +9.5% Passengers (millions) 1.8 +9.5% Flight movements (in 1.000) 15.2 +5.2% Malta Airpo
Slide 25: 2024: Airline comebacks, bigger offering from Vienna
2024: Airline comebacks, bigger offering from Vienna Strong summer flight schedule with 190 destinations in 67 countries Increase in long-haul flight traffic: 17 long-haul destinations in the summer, recovery from Asia − Summer flight schedule in 2024 with an expanded selection of destinations for t
Slide 26: Traffic forecast for 2024
Traffic forecast for 2024 Flughafen Wien AG: 2019 2021 2022 2023 Forecast 2024: Passengers 31.7 million 10.4 million 23.7 million 29.5 million about 30 million Flughafen Wien Group: 2019 2021 2022 2023 Forecast 2024: Passengers 39.5 million 13.1 million 30.1 million 38.0 million about 39 million − S
Slide 27: Expanded shopping and F&B offering in 2024
Expanded shopping and F&B offering in 2024 Nine new shops and restaurants for passengers − Greater offering of vegan food: New Veganista outlet in Terminal 3 (in addition to Terminal 1) − Austrian gastronomy brand Leberkaspepi to open a second outlet in the arrival hall (in addition to the F gates)
Slide 28: On the way to 5-Star Airport
On the way to 5-Star Airport Key southern expansion project picks up speed − Expansion of Terminal 3 by approx. 70,000 m² − Modern ambience, more rest areas and spacious lounge areas − Increased sales thanks to significantly expanded shopping and catering experience - Shopping & catering space incre
Slide 29: Financial calendar 2024
Financial calendar 2024 28 February: Preliminary Results for the Full Year 2023 16 May: Q1/2024 Results 5 June: Annual General Meeting 10 June: Ex-dividend day 20 August: H1/2024 Results 14 November: Q3/2024 Results 29
Slide 30: Contact
CONTACT Bernd Maurer Head of Capital Markets +43-1-7007-23126 +43-664-8357723 b.maurer@viennaairport.com 30 30