Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1-3 2020 Earnings Presentation
23 slides from Flughafen Wien's earnings presentation, November 2020
Slide 1: Flughafen Wien AG Results Q1-3/2020
FLUGHAFEN WIEN AG Results Q1-3/2020
Slide 2: Q1-3/2020: Slight recovery in summer, Covid-19 pandemic remains omnipresent
Q1-3/2020: Slight recovery in summer, Covid-19 pandemic remains omnipresent Q1-3/2020 – Passenger decline FWAG Group: -71.2%, Vienna: -70.7%, Malta: -72.5%, Košice: -82.1% Revenue decrease to € 277.0 million (-56.9%), EBITDA down by 80.1% to € 62.3 million, EBIT lower by 120.3% to € -43.6 millio
Slide 3: Significant profit and revenue drop due to Covid-19 pandemic
Significant profit and revenue drop due to Covid-19 pandemic in € million Q1-3/2020 Q1-3/2019 Δ in % Revenue 277.0 642.9 -56.9 Earnings before interest, tax, depreciation 62.3 313.1 -80.1 and amortization (EBITDA) Earnings before interest and taxes (EBIT) -43.6 215.0 -120.3 Financial results -11.0 -
Slide 4: Expenses: Significant cost reduction achieved in all positions
Expenses: Significant cost reduction achieved in all positions Expenses for consumables and in € million Q1-3/2020 Q1-3/2019 Δ in % services used were significantly Consumables and below previous year, energy services used -20.9 -29.7 -29.6 expenses fell by 29.0% Personnel expenses -160.0 -233.1 -
Slide 5: Higher net debt, negative free cash flow and significant CAPEX reduction
Higher net debt, negative free cash flow and significant CAPEX reduction Q1-3/2020 Q1-3/2019 Δ in % Net debt (€ million)1 161.9 81.4 98.8 Gearing (in %)1 12.1 5.9 n.a. Cash flow from operating activities -6.7 285.6 -102.3 (€ million) Free cash flow (€ million) -65.3 143.7 -145.4 CAPEX (€ million)2 6
Slide 6: Share price development from 1.1.2012 to 10.11.2020
Share price increase since 01/2012: +254% (end of Q1-3/2020: +204%), market cap about € 2.2 billion (end of Q1-3/2020: € 1.9 billion) 450 (+204%) 400 350 300 Indexed 250 +254% 200 150 100 +93% 50 +27% 0 -50 FWAG ATX Benchmark (FRA, ADP, ZRH) Average Share price development from 1.1.2012 to 10.11.202
Slide 7: Health has highest priority at VIE
Health has highest priority at VIE Requirements by the authorities are complied with: Health authorities are measuring the body temperature of all arriving passengers Arriving passengers from risk areas without a negative Covid-19 certificate are required to enter a 14-day quarantine period
Slide 8: New Office Park 4 in the Airport City put into operation
New Office Park 4 in the Airport City put into operation Opening in August 2020: Completion of construction, first tenants move in More than 40% already leased: Extensive interest on the part of prospective tenants – high demand for first-time occupancy and co-working spaces A total of 26,000
Slide 9: Flughafen Wien AG is well equipped to master the COVID-19 crisis
Flughafen Wien AG is well equipped to master the COVID-19 crisis Outlook 2020 EBITDA € 55 million – € 60 million Net profit1 Minus € 75 million – minus € 85 million The Flughafen Wien Group currently has secured liquidity at its disposal to safeguard sufficient financing for all possible crisi
Slide 10: Traffic Results Q1-3/2020
TRAFFIC RESULTS Q1-3/2020 10
Slide 11: Traffic development Q1-3/2020 Flughafen Wien Group
Traffic development Q1-3/2020 Flughafen Wien Group Group passenger development Q1-3/2020 Q1-3/2019 Δ in % Vienna Airport (millions) 7.0 24.0 -70.7 Malta Airport (millions) 1.6 5.6 -72.5 Kosice Airport (millions) 0.1 0.5 -82.1 Vienna Airport and its strategic 8.7 30.1 -71.2 investments (VIE, MLA, KSC
Slide 12: Shares of scheduled airlines
Shares of scheduled airlines Q1-3/2020 Share in % Passengers PAX Δ to Q1-3/2019 1. Austrian 37.8 2,656,872 -74.5 2. Wizz Air 11.6 813,383 -47.4 3. Lauda 9.2 643,759 -65.5 4. Ryanair 5.6 396,390 n.a. 5. Eurowings 4.9 346,454 -80.5 6. Lufthansa 3.0 213,477 -61.4 7. easyJet1 2.9 203,459 -78.1 8. Turkis
Slide 13: Traffic development Vienna Airport October 2020
Traffic development Vienna Airport October 2020 10/2020 10/2019 Δ in % Passengers (millions) 0.4 2.8 -86.7 Local passengers (millions) 0.3 2.1 -86.7 Transfer passengers (millions) 0.1 0.7 -86.9 Flight movements (in 1,000) 7.0 23.6 -70.3 MTOW (in 1,000 tonnes) 264.6 964.7 -72.6 Seat load factor (perc
Slide 14: Traffic development Malta Airport and Kosice Airport October 2020
Traffic development Malta Airport and Kosice Airport October 2020 Malta Δ% Kosice Δ% Passengers (millions) 0.1 -84.3 0.0 -84.4 Local passengers (millions) 0.1 -84.2 0.0 -84.4 Transfer passengers (millions) 0.0 -95.5 0.0 n.a. Flight movements (in 1,000) 1.6 -66.9 0.1 -75.1 MTOW (in 1,000 tonnes) 59.1
Slide 15: Traffic development Vienna Airport 1-10 November 2020 and outlook 2020
Traffic development Vienna Airport 1-10 November 2020 and outlook 2020 11/2020 11/2019 Δ in % Passengers (in 1,000) 75.0 840.5 -91.1 Local passengers (in 1,000) 57.0 642.6 -91.1 Transfer passengers (in 1,000) 17.3 196.0 -91.2 Flight movements (in 1,000) 1.8 6.9 -74.3 MTOW (in 1,000 tonnes) 71.8 283.
Slide 16: A possible path out of the crisis
A possible path out of the crisis Rapid antigen tests for passengers and event guests Currently voluntary on Austrian flights to Berlin, since 12.11.2020 mandatory on Austrian flights to Hamburg Testing facility in the terminal, passenger receives results in 10-15 minutes, Clean-Flight princip
Slide 17: For the time after the crisis: Modernisation of Terminal 2 is continued
For the time after the crisis: Modernisation of Terminal 2 is continued, all other projects on hold Passenger handling is currently performed centrally in Terminal 3. Depending on passenger volume, other terminal areas can be swiftly reactivated. The projects „Southern Extension“ and „Modernisatio
Slide 18: Segment Results Q1-3/2020
SEGMENT RESULTS Q1-3/2020 18
Slide 19: Airport: Passenger decline leads to lower EBITDA and EBIT
Airport: Passenger decline leads to lower EBITDA and EBIT Notable revenue decrease due to in € million Q1-3/2020 Q1-3/2019 Δ in % decline in passengers and flight movements External revenue 115.5 310.1 -62.8 EBITDA 27.2 155.9 -82.6 Revenue from aircraft-related fees EBIT -40.3 94.1 n.a. declined
Slide 20: Handling & Security Services: Lower revenue due to lower volumes
Handling & Security Services: Lower revenue due to lower volumes Revenue from apron handling Δ in in € million Q1-3/2020 Q1-3/2019 decreased by 49.4% to € 37.0 % million as a result of the pandemic- External revenue 68.6 122.2 -43.8 related decrease in movements and EBITDA -13.0 11.5 n.a. lower de
Slide 21: Retail & Properties: Also lower revenue and results
Retail & Properties: Also lower revenue and results Lower revenue from centre in € million Q1-3/2020 Q1-3/2019 Δ in management & hospitality, which % fell by 63.9% to € 22.0 million External revenue 58.1 120.6 -51.8 (Q1-3/2019: € 61.1 million) EBITDA 28.6 79.4 -64.1 EBIT 14.9 66.2 -77.5 Parking
Slide 22: Malta: Lower revenue and results due to Covid-19
Malta: Lower revenue and results due to Covid-19 Airport-related revenue declined by in € million Q1-3/2020 Q1-3/2019 Δ in 73.9% year-on-year to € 14.4 % million, which is also primarily due in External revenue 25.0 77.3 -67.7 this segment to the decrease in EBITDA 6.8 49.9 -86.3 traffic at Malta
Slide 23: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 23