Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2023 Earnings Presentation
25 slides from Flughafen Wien's earnings presentation, Aug 17, 2023
Slide 1: Flughafen Wien H1/2023 Results
17 August 2023 Flughafen Wien H1/2023 Results 1
Slide 2: H1/2023 – significant revenue and earnings increase
H1/2023 – significant revenue and earnings increase Improved outlook for the year The desire to travel is back - 45% more passengers (17 million) in the Flughafen Wien Group – 94% of 2019 level − Very good traffic development sustains the rise in revenue and earnings − Considerable upward pressure o
Slide 3: H1/2023 profit for the period up 58%
H1/2023 profit for the period up 58% Revenue increase of 45%, positive financial result for the first time € million H1/2023 H1/2022 Δ Revenue 428.1 294.7 45.3% Earnings before interest, tax, depreciation, amortisation (EBITDA) 177.4 143.1 23.9% Earnings before interest and taxes (EBIT) 112.6 75.8 4
Slide 4: Expenses
Expenses Substantial increase € million H1/2023 H1/2022 Δ Consumables and services used -28.9 -19.4 49.4% Personnel expenses -167.8 -120.1 39.8% Other operating expenses1 -57.6 -32.1 79.6% Depreciation and amortisation -64.8 -67.3 -3.8% EBITDA margin 41.4% 48.6% EBIT margin 26.3% 25.7% − EBITDA marg
Slide 5: Significant increase in cash flow
Significant increase in cash flow Stable equity ratio € million H1/2023 2022 Δ Net liquidity 246.3 149.4 64.9% Gearing1 -16.9 -10.3 n.a. Equity 1,454.7 1,448.5 0.4% Equity ratio 65.0 65.1 n.a. Cash flow from operating activities2 197.9 96.6 104.9% CAPEX2,3 28.7 25.9 10.7% Free cash flow2 45.6 -24.0
Slide 6: Elimination of net debt
Elimination of net debt Supports positive financial result Net liquidity (€ million) − Comfortable financial leeway for investments 250 246 and attractive dividends − Increase in the payout ratio 50 to “over 60%” announced as of FY 23 (60% to date) -150 − No interest rate risk 1 -350 − High equity r
Slide 7: Third runway project
Third runway project Environment impact authority approves extension of implementation deadline − Extension of the implementation deadline for the third runway project to 30 June 2033 approved by the responsible environmental impact authority − Once again, several appeals have been filed against thi
Slide 8: CO₂ neutral airport operations
CO₂ neutral airport operations Sustainability as the basis for successful and responsible actions − PV facilities, e-mobility, CO₂-neutral geothermal energy/district heat, new technologies and countless other measures have enabled the airport to steadily reduce CO₂ emissions − Doubling of photovolta
Slide 9: Growth of the AirportCity
Growth of the AirportCity More than 250 companies and over 23,000 employees − Boom in business location projects – Already some 20 new companies at the airport in 2023, not only in service and logistics but also production (Enpulsion) − High level of investments, especially for logistics properties
Slide 10: New long-term studies by Airbus & Boeing
New long-term studies by Airbus & Boeing forecast sustainable, longer-term passenger growth (horizon 2042) Doubling of the fleet1 − Global aircraft fleet should double by 2042 to approx. 48,600 aircraft (about +3.5% p.a.), 50.000 48,600 whereby half of the aircraft delivered represent 45.000 replace
Slide 11: Financial guidance
Financial guidance Improved outlook for FY 2023 − Upward revision of financial guidance due to strong passenger growth (ad-hoc announcement on 2 August) − Accordingly, management expects significantly higher revenue as well as a significant rise in EBITDA and net profit for the period compared to th
Slide 12: Traffic results H1/2023 & 07/2023
Traffic results H1/2023 & 07/2023 12 12
Slide 13: Traffic development H1/2023 & 07/2023
Traffic development H1/2023 & 07/2023 Flughafen Wien Group already reached 94% of 2019 level Group passenger development1 H1/2023 Δ H1/2022 Δ H1/2019 07/2023 Δ 07/2022 Δ 07/2019 Vienna Airport (millions) 13.3 44.3% -9.1% 3.1 13.4% -0.5% Malta Airport (millions) 3.4 46.4% 5.6% 0.8 23.2% 6.3% Kosice A
Slide 14: Traffic development H1/2023 & 07/2023
Traffic development H1/2023 & 07/2023 Vienna Airport Passenger development at H1/2023 Δ H1/2022 Δ H1/2019 07/2023 Δ 07/2022 Δ 07/2019 Vienna Airport1 Passengers (millions) 13.3 44.3% -9.1% 3.1 +13.4 -0.5 Local passengers (millions) 10.3 45.0% -9.5% 2.4 +18.5 +1.6 Transfer passengers (millions) 3.0 4
Slide 15: PAX increase for almost all destinations
PAX increase for almost all destinations Focus still on European destinations thereof Western − Southern European vacation Europe thereof destinations considerably above Growth e.g., to London, Copenhagen, Paris, +39.3% Europe Eastern Europe +39.4% +40,0% Growth e.g., to Warsaw, Sofia, pre-crisis le
Slide 16: Market share of airlines
Market share H1/2023 Share in % Passengers PAX Δ% vs. 2022 PAX Δ% vs. 2019 of airlines 1. Austrian 2. Ryanair/Lauda 46.0 21.3 6,126,557 2,833,580 47.1 41.3 -1.5 142.7 3. Wizz Air 6.8 910,237 36.0 -3.5 4. Eurowings 2.5 330,988 68.0 -69.1 Lufthansa hub & low- 5. Turkish Airlines 2.3 304,168 35.3 22.0
Slide 17: Quality
Ongoing good punctuality rate in H1/2023 Quality Helsinki 82,2% Madrid 79,6% Oslo 79,4% In the Lufthansa Group Vienna 78,9% clearly ahead of Rome 73,2% Athens 72,3% Munich, Zurich and Istanbul Internat. 71,5% Frankfurt Munich 69,4% Copenhagen 69,1% Supports the relative Amsterdam 65,7% Milan 60,6% p
Slide 18: Airline highlights in the summer flight schedule
Airline highlights in the summer flight schedule Increase in destinations and frequencies – expanded capacities1 − Up to 209 destinations in 67 countries served in the summer by about 60 airlines − Many flight offerings in Europe and the Mediterranean region; market recovery on long-haul routes is p
Slide 19: Traffic forecast for 2023
Traffic forecast for 2023 Upward revision after strong H1/2023 and positive outlook Flughafen Wien AG: 2019 2021 2022 New 2023 forecast Passengers 31.7 million 10.4 million 23.7 million 28.5 million Flughafen Wien Group: 2019 2021 2022 New 2023 forecast Passengers 39.5 million 13.1 million 30.1 mill
Slide 20: Segment results H1/2023
Segment results H1/2023 20 20
Slide 21: Airport
Airport Flight traffic recovery leads to strong rise in passenger-related fees − Revenue increase primarily driven by € million H1/2023 H1/2022 Δ passenger-related fees (€ 142 million vs. External revenue 199.4 134.2 48.6% € 88 million in H1/22), in line with passenger development and fee adjustment
Slide 22: Handling & Security Services
Handling & Security Services Driven by increase in flight movements − Ground handling revenue climbed 48% to € million H1/2023 H1/2022 Δ € 53 million due to flight traffic growth External revenue 78.5 56.9 37.9% − Cargo handling income of € 13.9 million up EBITDA 4.1 4.6 -11.7% slightly from the pri
Slide 23: Retail & Properties
Retail & Properties Passenger-drive revenue increases in shopping, catering and parking − Passenger-driven revenue increases for Center € million H1/2023 H1/2022 Δ & Hospitality Management (+ € 16 million or External revenue 84.2 57.3 47.1% +66%) and parking fees (+ € 9 million or +49%) EBITDA 45.7
Slide 24: Malta
Malta Passengers considerably above the pre-Covid level − Passenger traffic in H1/23 already higher every € million H1/2023 H1/2022 Δ month than H1/19: 3.43 million passengers vs. External revenue 53.6 37.3 43.8% 3.25 million in H1/19 (+46%) EBITDA 33.6 23.4 43.8% − Strong revenue growth in passenge
Slide 25: Financial calendar Contact
Financial calendar 17 August: H1/2023 & July Traffic Results 13 September: August Traffic Results 12 October: September Traffic Results 16 November: Q3/2023 & October Traffic Results 13 December: November Traffic Results Contact Bernd Maurer Head of Capital Markets +43-1-7007-23126 +43-664-8357723 b