Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2008 Earnings Presentation
44 slides from Flughafen Wien's earnings presentation, Mar 26, 2009
Slide 1: Company Presentation Flughafen Wien AG – Results for 2008
Company Presentation Flughafen Wien AG R Results lt ffor 2008 March 26, 2009 -1-
Slide 2: Content
Content 1. Highlights 2008 2. Financial Results 2008 and Investments 3. Results by Segment 4. Traffic Results 5. Key Advantages of Vienna International Airport 6. International Investments -2-
Slide 3: Highlights 2008
Highlights 2008 -3-
Slide 4: Highlights 2008
Highlights 2008 z Total revenue: EUR 548.1 mill. + 5.1% z EBITDA: EUR 201.9 mill. + 5.7% z Net profit : EUR 91.1 mill. + 4.0% after minority interests z Passengers: + 5.2% (above European average of -0.7%*) z Dividend per share: EUR 2.60 + 4.0% z Dividend yyield 8.2% (as of 31.12.) * Source: ACI Jan
Slide 5: Financial Results 2008 and Investments
Financial Results 2008 and Investments -5-
Slide 6: Financial Results 2008
Financial Results 2008 2008 2007 Change EUR mill. in % Revenues 548.1 521.4 + 5.1 Other income 13.2 14.3 - 7.5 Operating income 561.3 535.7 + 4.8 Operating expenses 359 4 359.4 344 7 344.7 + 42 4.2 (excl. depreciation) EBITDA 201.9 191.0 + 5.7 Depreciation p 68.7 70.6 - 2.8 EBIT 133.3 120.3 + 10.7 F
Slide 7: Financial Results 2008 – Revenue by Segment
Financial Results 2008 Revenue by Segment Non - Aviation EUR 144.5 mill. Handling + 9.3% 9 3% EUR 152.2 mill. + 3.5% Airportt Ai Revenue structure EUR 250.8 mill. excl. Handling + 3.6% 36.1% 63.9% -7-
Slide 8: Summary of Operating Expenses
Financial Results 2008 Summary of Operating Expenses in EUR mill. 2008 2007 Change. i % in Consumables and services used 40.0 37.0 + 8.1 Personnel expenses 220.2 213.4 + 3.2 Depreciation 68.7 70.6 - 2.8 Other operating expenses 99.2 94.4 + 5.1 Total operating expenses 428.1 415.4 + 3.0 EBT -8-
Slide 9: Cash Flow
Financial Results 2008 Cash Flow in EUR mill. 2008 2007 From operating activities + 148.4 + 164.4 From investing g activities - 234.7 - 277.1 From financing activities + 63.5 + 50.1 Change iin cash Ch h and d cash h - 22.8 22 8 - 62.6 62 6 equivalents incl. revaluation reserve for securities and for
Slide 10: Financial Indicators
Financial Results 2008 Financial Indicators in % 2008 2007 EBITDA Margin 36.8 36.6 EBIT Margin 24 3 24.3 23 1 23.1 ROE 12.1 12.0 ROCE 8.4 9.1 ROS 36.8 36.6 Gearing 65.3 40.4 - 10 -
Slide 11: Investments 2008
Investments 2008 Investments in EUR mill. 2008 2007 Change in % I t Intangible ibl assets t 52 5.2 09 0.9 + 466 5 466.5 Property, plant and equipment 292.9 192.9 + 51.8 Financial assets 0.9 7.7 - 87.9 Total 299.0 201.5 + 48.4 EBT - 11 -
Slide 12: Results by Segment
Results by Segment - 12 -
Slide 13: Airport Segment
Results by Segment Airport Segment* in EUR mill. mill 2008 2007 Revenue 250.8 242.2 Segment g earnings g ((EBIT)) 97.3 9 94.1 EBIT margin in % 34.9 34.9 EBITDA margin g in % 48.2 49.1 Av. number of employees 399 378 * Airport Segment The Airport Segment covers the operation and maintenance of the te
Slide 14: Handling Segment
Results by Segment Handling Segment * in EUR mill. mill 2008 2007 Revenue 152.2 147.0 Segment earnings (EBIT) 14.5 11.8 EBIT margin in % 8.2 6.9 EBITDA margin g in % 12.6 11.4 Av. number of employees 2,210 2,089 * Handling Segment The Handling Segment provides a wide range of services for scheduled,
Slide 15: Non-Aviation Segment
Results by Segment Non – Aviation Segment* in EUR mill. mill 2008 2007 Revenue 144.5 132.2 Segment earnings (EBIT) 48.8 35.2 EBIT margin in % 22.6 18.1 EBITDA margin g in % 33.4 30.7 Av. number of employees 1,503 1,465 * Non-Aviation Segment The Non-Aviation Segment comprises various services relate
Slide 16: Traffic Results 2008
Traffic Results 2008 - 16 -
Slide 17: Increase in passengers at selected airports in Europe
Increase in passengers at selected airports in Europe in % 11.3 12 ope ational – Euro 10 8 7.3 ouncil Interna 6.3 6.5 mber 2008 6 5.3 5.2 4.9 nuary - Decem CI Airports Co 4 Source: AC *2008: Jan 2 -0.7* 0 2005 2006 2007 2008 Vienna International Airport European average (selected airports) - 17 -
Slide 18: Traffic Results 2008
Traffic Results 2008 Passengers: 19,747,289 (+5.2%) Transfer passengers: 5,936,560 (-0.9%) Flight movements: 266,402 (+4.5%) MTOW (in tonnes): 7,812,763 (+6.3%) Cargo incl. trucking (in tonnes): 267,985 ((-1.6%)) - 18 -
Slide 19: Scheduled Traffic Passengers by region
Traffic Results 2008 Scheduled Traffic “Passengers” Europe total + 7.1% 86.7% Eastern Europe Western Europe North America + 9.6% + 6.5% + 8.6% 8 6% 68.2% 18.5% 3.0% Middle East Far East + 6.3% 6 3% - 10.6% 10 6% 4.3% 4.7% Others -4.9% 1.3% Change vs. 2007 Share of total passengers - 19 -
Slide 20: Airlines – share of passengers
Traffic Results 2008 Ai li Airlines – share h off passengers % 2008 2007 Austrian Airlines Group 49.6 52.6 Niki 7.0 5.5 Air Berlin 67 6.7 67 6.7 Skyeurope Airlines 6.0 3.4 Lufthansa 5.2 5.3 Germanwings 2.5 2.5 British Airways 1.6 1.8 Swiss Intl Intl. 16 1.6 17 1.7 Air France 1.5 1.6 KLM 1.0 1.2 Othe
Slide 21: Traffic Results 01-02/2009
Traffic Results 01-02/2009 January February Total January- Forecast* 2009 2009 February 2009 Passenges 1 155 452 1,155,452 1 136 273 1.136.273 2.291.725 Change in % -12.1 -16.5 -14.3 -5 MTOW (in tonnes) 549,630 516,686 1.066,316 Change in % -8.2 -11.9 -10.0 -4 Flight movements 18,973 17,859 36,832 C
Slide 22: Traffic Results 01-02/2009 – Passenger traffic
Traffic Results 01-02/2009 Passenger traffic in the first two months vs. 2008 and 2007 2007 2008 2009 January 1,148,082 1,314,531 1,155,452 Change +6.0% +14.5% -12.1% February 1,130,631 1,360,041 1,136,273 Change +8.6% +20.3% -16.5% 2.500.000 2.000.000 There has been a notable decline in passenger v
Slide 23: Long-Term Forecast 1999 - 2020
Long-Term Forecast 1999 - 2020 Passengers in mill. upper trendline * Ø 2009-2020: 7.1% 39,8 *CAGR CAGR Passengers VIE 1970-2008 1970 2008 Forecast extrapolated to 2020 Ø 2009-2020: 5.4% 28,2 33,5 lower trendline Ø 2009-2020: 3.6% 26,0 27,4 19,7 23,0 18,7 11,2 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08
Slide 24: Key Advantages of Vienna International Airport
Key Advantages of Vienna International Airport p - 24 -
Slide 25: Key advantages support the hub function
Vienna International Airport Key advantages support the hub function Key advantages 1. Location 2. Quality 3. Capacity 4. Tariffs and incentives - 25 -
Slide 26: 1. Location
1. Location Key advantages support the hub function 1 1 Catchment area 1.1 1.2 Geographical location 1.3 Markets 1.4 Positioning of the airport in Eastern Europe - 26 -
Slide 27: 1.1 Catchment area
1.1 Catchment area Approx. 14.3 million people live in the catchment area Flights per GDP growth Country resident in % 2007 2008 e. Austria 2.51 2.0% Czech Rep. 1.09 4.0% Croatia 0.84 3.8% Hungary 0.79 1.9% Slovenia 0.65 4.3% Catchment area: Slovakia 0.35 7.4% The hub airport that can be EU (total)
Slide 28: 1.2 Geographical location
1.2 Geographical location Time saved with flights to/from Vienna vs. Munich Airport ation VNO `01:20h DME `00:25h an informa MSQ `01:35h m Austrian and Lufthansa WAW `00:25h e flight pla KBP `00:25h Sourrce: Online BUD `00 00:40h 40h ROV `01:30h 01:30h ZAG `00:20h BEG `00:20h OTP `00:30h SJJ `00:25h
Slide 29: 1.3 Markets
1.3 Markets AUA and LH flights to Easstern Euro ope Eastern Europe LH & OS LH OS LH focus regions OS focus regions Source: OAG, week 46, as of 12.01.2008 - 29 -
Slide 30: 1.4 Positioning of the airport in Eastern Europe
1.4 Positioning of the airport in Eastern Europe High frequencies, maximum destinations ovember 2008, exxcl. Ekaterinburg Source. OAG, No Highest number of East European destinations in comparison - 30 -
Slide 31: 2. Quality
2. Quality Key advantages support the hub function 2 1 Top quality standards 2.1 2.2 On-time performance - 31 -
Slide 32: 2.1 VIE's top quality standards
2.1 VIE‘s top quality standards z 25-minute minimum connecting time: Airport MCT Airport MCT ght Guide Munich 35 min Amsterdam 50 min urce: OAG Flig Zurich 40 min Brussels 50 min Copenhagen 45 min Paris 90 min Sou Frankfurt 45 min London 90 min z Short routes & comfortable transfers for passengers ¾
Slide 33: 2.2 On-Time Performance
2.2 On-Time Performance Top position for reliability and punctuality* Delays > 15 min ex VIE 2007 vs. 2008 Source: VIE – Delay statistics 2008 - 33 -
Slide 34: 3. Capacity and expansion projects
3. Capacity and expansion projects Key advantages support the hub function 3 1 Terminal expansion – Skylink 3.1 3.2 Non-aviation 3.3 Third runway project - 34 -
Slide 35: 3.1 Terminal expansion - Skylink
3.1 Terminal expansion - Skylink The costs and scheduling for the Skylink project are currently being re-evaluated re evaluated because discrepancies between the construction manager and the routine controls by Flughafen Wien AG were identified in February 2009. This evaluation should be completed i
Slide 36: 3.2 Non-aviation
3.2 Non-aviation First-class service and comfort T Terminal i l expansion i Skylink: Sk li k ¾ Substantial increase in gastronomy and shopping areas Decrease in Additional Available Additional Total space space space in T2 Total space space space with opening with opening and Pier 2007 Skylink Skyli
Slide 37: 3.3 Third runway project
3.3 Third runway project This project will eliminate the shortage of runway areas at VIE and safeguard long-term growth at the airport location Name: 11R/29L Length: 3,680 metres Width: 60 metres 2 400m 2.400m Taxiways: ~ 27.5 km Category: CAT III Approval of environmental impact study expected in 2
Slide 38: 4. Tariffs and incentives
4. Tariffs and incentives Key advantages support the hub function 4 1 Competitive tariffs and attractive incentives 4.1 4.2 VIE‘s attractive incentive scheme - 38 -
Slide 39: 4.1 Competitive tariffs and attractive incentives
4.1 Competitive tariffs and attractive incentives B Better than h the h European E average** Rank Airport Index 1 MAD 64% 2 CPH 69% 3 GVA 76% Average 4 ZRH 77% 5 KLU 77% 6 BRU 81% 7 MXP 82% 8 MLA 84% 9 VIE 93% 10 TXL 94% 11 AMS 95% 12 BUD 96% 13 STR 97% 14 BTS 99% 15 DUS 100% - Aver 100% 16 PRG 102%
Slide 40: 4.1 Development of tariffs 2008 / 2009
4.1 Competitive tariffs and attractive incentives Development of tariffs 2008 / 2009 Ch Change in i tariff t iff regulation l ti as off 1 1.1.2008 1 2008 z Reduction of 0.09% in landing, parking and airside infrastructure tariffs z Reduction of 1 1.04% 04% in passenger tariff and landside infrastruc
Slide 41: 4.2 VIE's attractive incentive scheme
4.2 VIE‘s attractive incentive scheme …our offer to the airlines TRANSFER INCENTIVE SCHEME: Ó To T supportt transfers t f andd the th connections ti available il bl att VIE Ó The transfer incentive equals € 8.21 for each departing transfer passenger GROWTH INCENTIVE SCHEME: Ó Increase in destination
Slide 42: International Investments
I t International ti l Investments I t t - 42 -
Slide 43: International Investments
International Investments Kosice Airport 590,919 590 919 passengers in 2008 (+33 (+33.3%) 3%) Revenue (2007): EUR 7.7 million Results for the period (2007): EUR 2.6 million Malta International Airport 3,109,643 3 109 643 passengers in 2008 (+4 (+4.7%) 7%) Revenue: EUR 44.8 million Results for the pe
Slide 44: Consolidated Financial Statements of Flughafen Wien AG for 2008
C Consolidated lid t d Financial Fi i l Statements St t t off Flughafen Wien AG for 2008 - 44 -