Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2013 Earnings Presentation
17 slides from Flughafen Wien's earnings presentation, February 2014
Slide 1: Overview of 2013: Increase in Revenue and Earnings
OVERVIEW OF 2013: INCREASE IN REVENUE AND EARNINGS Outlook on 2014: growth and improvement in earnings expected
Slide 2: Major progress made in 2013 – growth and higher earnings expected in 2014
Major progress made in 2013 – successful strategy also expected to bring growth and higher earnings in 2014 ✈ Despite slight decline in passengers, substantial improvement in company‘s economic position during 2013 – significant increase in productivity and customer quality, sustainable reduction in
Slide 3: Improved EBITDA margin documents sound productivity gain
Improved EBITDA margin documents sound productivity gain 40% 30% 31.5% 32.5% 36.5% 38.8% 20% 10% 0% 2010 2011 2012 2013 All financial indicators for 2013 are based on preliminary results for the year. The final results will be published in the 3 2013 annual report of Flughafen Wien AG.
Slide 4: Improvement in earnings despite higher depreciation (Check-in 3)
Improvement in earnings despite € 16 million plus in depreciation (Check-in 3) Dividend1) raised to € 1.30 (2012: € 1.05) in € mill. 2013 2012 ∆ in % Revenue 622.0 607.4 +2.4 EBITDA 241.5 221.4 +9.1 EBIT 112.1 108.0 +3.8 Financial results -15.3 -14.3 +7.1 Profit before taxes (EBT) 96.8 93.7 +3.2 Net
Slide 5: Strong improvement in financial structure
Strong improvement in financial structure Free cash flow of € 118 million (+122.8%) Substantial reduction of € 86.3 million in net debt 2013 2012 ∆ in % Net debt (in € million) 633.4 719.6 -12.0 Gearing (in %) 69.9 84.5 -14.6%p. Cash flow from operating activities 204.4 179.7 +13.7 (in € million) Fr
Slide 6: Share price +129% since February 2012
Share price +129% since February 2012 Market capitalisation more than doubled since low in early 2012 (plus € 830 million) 240 Market capitalisation now: € 1,377 million +129% 220 200 Market capitalisation on 7.3.2012: 180 € 547 million Indexed to 100 160 140 +43% +25% 120 100 80 FWAG ATX Benchmark
Slide 7: Further positive development in 2014
Further positive development in 2014 Growth and earnings improvement expected 2013 Financial goals for 2014 Revenue € 622.0 million > € 630 million EBITDA € 241.5 million > € 240 million Net profit € 73.3 million > € 75 million Net debt € 633.4 million < € 600 million CAPEX € 72.9 million
Slide 8: Segment Results for 2013
SEGMENT RESULTS FOR 2013 — See a ee SN — = AN Vienna WV | @ International Airport
Slide 9: Airport: revenue plus and stable cost development
Airport: revenue plus and stable cost development in € million 2013 2012 ∆ in % ✈ Higher revenue – despite slight External revenue 331.4 315.3 +5.1 decline in passengers EBITDA 132.8 123.9 +7.1 ✈ Costs under control despite doubling EBIT 42.0 55.6 -24.6 of terminal areas: other operating Employees (
Slide 10: Handling: higher productivity and stable market share
Handling: higher productivity and stable market share in € million 2013 2012 ∆ in % ✈ Market share remains stable (88.5% External revenue 151.9 155.9 -2.6 vs. 89.3% in 2012), extension of contracts with Lufthansa, SWISS, EBITDA 22.6 18.8 +20.1 easyJet EBIT 17.2 12.9 +32.8 Employees (as of 31.12.) 3,
Slide 11: Retail & Properties: plus for Shopping & Gastro and advertising space
Retail & Properties: plus for Shopping & Gastro and advertising space in € million 2013 2012 ∆ in % ✈ Strong growth (+6.2%) in real External revenue 121.2 119.5 +1.4 estate due to active marketing of advertising space EBITDA 61.6 64.2 -4.1 EBIT 41.9 38.1 +9.9 ✈ Revenue plus for Shopping & Employees
Slide 12: Optimistic estimates for traffic in 2014
Optimistic estimates for traffic in 2014 ✈ New destinations and increased frequencies by AUA, NIKI, British Airways, TAP and many others ✈ New airlines: Jet2.com, Air Algérie, Air China, China Southern Cargo, others in planning ✈ However, stagnation in flight movements 2013 Forecast for 2014 Passeng
Slide 13: Appendix
13 => ANI Vienna International Airport
Slide 14: Expenses
Expenses ✈ Higher expenses for de-icing materials in € million 2013 2012 ∆ in % due to the severe winter and (scheduled) increase in maintenance Consumables -46.1 -43.2 +6.8 and consumables. Energy consumption Personnel -245.8 -249.7 -1.6 declined slightly despite full-year Other operating operation
Slide 15: Substantial improvement in net debt and gearing
Substantial improvement in net debt (€ 633.4 million) and gearing (69.9%) ✈ Net debt falls by € 86.3 million to € 633.4 31.12.201 31.12.2013 ∆ in % million in 2013 – clearly below target for 2 the year (€ 680 million) Net debt 633.4 719.6 -12.0% (in € million) ✈ Further drop in gearing from 84.5% as
Slide 16: Free cash flow more than doubled
Free cash flow more than doubled CAPEX (€ 72.9 million) substantially reduced ✈ Positive free cash flow more than doubled Cash flow (in € million) from € 53.0 million to € 118.0 million 250 ✈ Cash flow from operating activities +13.7% 200 to € 204.4 million in 2013, above all due to the improvement
Slide 17: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 17