Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1 2013 Earnings Presentation
20 slides from Flughafen Wien's earnings presentation, 2013
Slide 1: Flughafen Wien AG Results for Q1/2013
FLUGHAFEN WIEN AG Results for Q1/2013
Slide 2: Highlights in Q1/2013
Highlights in Q1/2013 ✈Traffic -1.7% in Q1/2013 due to severe winter, capacity reduction by y the airlines and strikes in Germanyy ✈Growth in revenue as a result of higher income from security fee as well as increased rentals of advertising space and real estate t t and d income i from f de-icing d
Slide 3: Traffic results under pressure in Q1/2013
Traffic results under pressure in Q1/2013 1-3/2013 / 1-3/2012 / Δ in % Passengers (in mill.) 4.41 4.49 -1.7 Transfer passengers (in mill.) 1.36 1.44 -5.6 Local passengers (in mill.) 3.05 3.03 0.5 Flight movements (in 1,000) 52.23 56.24 -7.1 MTOW (in (i mill. ill tonnes)) 1 75 1.75 1 86 1.86 -6.0 60
Slide 4: Traffic Results – Share of Airlines
Traffic Results – Share of Airlines 1-3/2013 1-3/2012 1-3/2013 Δ in % g Passengers 4,411,228 , , 8 4,485,787 , 8 , 8 -1.7 Share in % Share in % PAX absolute PAX Δ in % Austrian Airlines Group 49.2 49.4 2,170,489 -2.1 Lufthansa 6.2 5.7 275,649 7.8 Germanwings 2.6 2.6 113,451 -1.0 Swiss S ss 1.7 1.7 7
Slide 5: Results negatively influenced, as expected, by effects from Check-in 3
Results negatively influenced, as expected, by effects from Check-in 3 1-3/2013 / 1-3/2012 / Δ in % Revenue 145.9 139.0 4.9 EBITDA 48.6 49.8 -2.3 EBIT 18.1 30.4 -40.5 Financial results -6.0 -2.4 150.6 P fi before Profit b f taxes (EBT) 12 1 12.1 28 1 28.1 -56.8 56 8 Net profit for the period (after
Slide 6: Continued improvement in financial structure
Continued improvement in financial structure Further substantial reduction in net debt 1-3/2013 1-3/2012 Δ in % Net debt 689.0 719.6 -4.3 (in € mill.; 31.3.2013 vs. 31.12.2012) Gearing 80.0 84.5 4.5%p. (in %; 31.3.2013 vs. 31.12.2012) Cash from operating activities 47 7 47.7 31 6 31.6 51 1 51.1 ( €
Slide 7: Expenses
Expenses ✈ Higher expenses for de-icing in € mill. 1-3/2013 1-3/2012 Δ in % materials due to severe winter Consumables -17.4 -11.8 47.1 and increase in energy p consumption due to Check-in 3 Personnel -63.1 -60.1 4.9 ✈ 3.7% decline in average Other operating expenses -22.3 -21.8 2.4 number of employ
Slide 8: Debt and Gearing
Debt and Gearing ✈ Decline of € 37.9 mill. in cash and 31.3.2013 31.12.2012 Δ in % cashh equivalents, i l mainly i l ddue to Net debt (in € mill.) 689.0 719.6 -4.3 partial repayment of ULSG loan (€ 50.0 mill.) and cash advances Gearing (in %) 80.0 84.5 4 5%p 4.5%p. - ✈ Reduction of 6.1% in long-term
Slide 9: Cash Flow and CAPEX
Cash Flow and CAPEX ✈ High positive free cash flow of Cash flow (in € mill.) € 30.6 30 6 mill. mill 60 ✈ Cash flow from operating activities 40 +51.1% to € 47.7 mill. 20 48 ✈ Cash flow from investing activities 32 reduced to € -17.1 mill. (Q1/2012: 0 -17 € -35.3 mill.), above all due to decline -20
Slide 10: Current Projects
Current Projects Renovation of Runway 16/34 during April and May 2013 ✈Runway last renovated nearly 20 years ago ✈Costs will total approx. € 28 mill. Modernisation of infrastructure and increase in service quality ✈Revitalised Check-in 1 in operation since January 2013 ✈Renovation of plaza / arcade
Slide 11: Outlook – Revision of traffic forecasts for 2013
Outlook – Revision of traffic forecasts for 2013 ✈ Difficult Q1/2013 due to extremely severe winter with heavy snowfall and resulting flight limitations ✈ Challenging market environment for airlines 1-3/2013 New forecast for 2013 P Passengers 4 411 228 ((-1.7%) 4,411,228 1 7%) -1% 1% to t +1% 1% F
Slide 12: Financial guidance for 2013 confirmed
Financial guidance for 2013 confirmed 2012 Financial targets for 2013 Revenue € 607 mill. Increase > € 625 mill. EBITDA € 221 mill. Increase > € 230 mill. Net profit € 72 mill. > € 65 mill. < 3.3x EBITDA Decrease,, ≤ 2.9x EBITDA Net debt € 720 mill. (< € 680 mill.) CAPEX € 102 mill. Approx
Slide 13: Appendix
APPENDIX 13
Slide 14: Airport Segment
Airport Segment ✈ Increase in revenue – despite in € mill. 1-3/2013 / 1-3/2012 / Δ in % negative development of traffic External revenue 68.7 65.7 4.6 in Q1/2013 – above all due to g higher income from security y fee EBITDA 20.0 26.7 -24.9 ✈ Above-average increase in EBIT -2.1 15.0 n.a. expenses bec
Slide 15: Handling Segment
Handling Segment ✈ Revenue growth supported, in in € mill. 1-3/2013 / 1-3/2012 / Δ in % particular, by income from External revenue 42.7 40.8 4.8 individual services, mainly de- g ((+ € 5.4 mill.), icing ), which more EBITDA 9.1 6.7 34.9 than offset decline in cargo and EBIT 7.7 5.3 44.6 traffic han
Slide 16: Retail & Properties Segment
Retail & Properties Segment ✈ Higher revenue from all in € mill. 1-3/2013 / 1-3/2012 / Δ in % segment businesses: positive External revenue 30.0 28.8 4.3 development of real estate and advertisingg space p rentals – only y EBITDA 20.1 19.5 3.2 slight increase for shops & EBIT 16.4 16.0 2.4 gastro de
Slide 17: Leading hub to Eastern Europe
Leading hub to Eastern Europe -1.2% 87 0% 87.0% -0.1% -1.5% 19 9% 19.9% -13.5% 67.1% 1.6% +2.9% 5.7% -12.7% 3.7% +21.5% 1 9% 1.9%
Slide 18: Aviation will also remain a growth market in the future
Aviation will also remain a growth market in the future Traffic development VIE vs. ACI Europe 2009-2020 18
Slide 19: Traffic development since 2008
Traffic development since 2008 2500 1000 PAX (in 1,000) Transfer PAX (in 1,000) 2300 900 2100 800 1900 2013 PAX 700 2013 Transfer PAX 1700 2012 PAX 600 2012 Transfer PAX 1500 500 2011 PAX 2011 Transfer PAX 1300 400 2010 PAX 2010 Transfer PAX 1100 300 900 2009 PAX 200 2009 Transfer PAX 700 2008 PAX 1
Slide 20: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 20