Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2018 Earnings Presentation
26 slides from Flughafen Wien's earnings presentation, August 2018
Slide 1: Flughafen Wien AG H1/2018 Results
FLUGHAFEN WIEN AG H1/2018 Results
Slide 2: H1/2018: Strong traffic growth in the first half-year - Guidance confirmed
H1/2018: Strong traffic growth in the first half-year - Guidance confirmed H1/2018 – Passenger growth in Vienna of 5.5% (Group: +7.6%); substantial rise in passenger volume in Malta (+16.3%) and also in Kosice (+14.2%) Revenue increase to € 373.5 million (+4.5%), EBITDA up 6.1% to € 167.6 million, E
Slide 3: Sustainably positive development of the EBITDA margin
Sustainably positive development of the EBITDA margin underscores significant productivity improvement 50% 45% 40% 35% 30% 25% 43.4% 44.5% 43.3% 44.2% 44.9% 41.7% 20% 37.7% 40.0% 15% 30.7% 10% 5% 0% 2011 2012 2013 2014 2015 2016 2017 H1/2017 H1/2018 Figures for 2011-2016 adjusted due to FMA decision
Slide 4: Positive results attributable to revenue development, one-off real estate effect
Positive results attributable to revenue development, one-off real estate effect and lower depreciation and amortisation in € million H1/2018 H1/2017 ∆ in % Revenue 373.5 357.5 +4.5 Earnings before interest, tax, depreciation and amortization 167.6 157.9 +6.1 (EBITDA) Earnings before interest and ta
Slide 5: Increased costs mainly due to higher personnel expenses
Increased costs mainly due to higher personnel expenses ✈ Expenses for consumables and services in € million H1/2018 H1/2017 ∆ in % used up by € 1.4 million as a result of higher consumption of electricity and Consumables and -20.0 -18.6 +7.4 services used materials ✈ Personnel expenses rose by € 7.
Slide 6: Reduction of net debt by € 36.6 million since year-end 2017
Reduction of net debt by € 36.6 million since year-end 2017 H1/2018 H1/2017 ∆ in % Net debt (€ million)1 190.4 227.0 -16.1 Gearing (%)1 15.6 18.7 n.a. Cash flow from operating activities 128.9 136.1 -5.3 (€ million) Free cash flow (€ million) 72.1 78.7 -8.4 CAPEX (€ million)2 91.9 61.3 +49.9 Equity
Slide 7: Ongoing positive development of net debt and gearing
Ongoing positive development of net debt and gearing ✈ Net debt down by € 36.6 million to June 30, Dec. 31, ∆ in % € 190.4 million 2018 2017 ✈ Slight rise in non-current assets: Net debt 190.4 227.0 -16.1 capitalisation of payment obligations to the (in € million) environmental fund in connection wi
Slide 8: Cash flow: higher earnings slightly offset by lower provisions and liabilities
Cash flow: higher earnings slightly offset by lower provisions and liabilities ✈ Free cash flow slightly below the previous in € million H1/2018 H1/2017 ∆ in% year as a result of reduction in provisions Cash flow from and liabilities, despite improved operating 128.9 136.1 -5.3 operating activities
Slide 9: Share price development since 1.1.2012: +342%, market capitalisation ~ € 2.7 bill.
Share price development since 1.1.2012: +342%, market capitalisation ~ € 2.7 bill. 450 400 350 +342% 300 Indexed 250 200 +192% 150 100 +72% 50 0 -50 Jul 2012 Oct 2012 Jul 2013 Oct 2013 Jul 2014 Oct 2014 Jul 2015 Oct 2015 Jul 2016 Oct 2016 Jul 2017 Oct 2017 Jul 2018 Apr 2012 Apr 2013 Apr 2014 Apr 201
Slide 10: The Airport City continues to grow
The Airport City continues to grow: Higher investments, new companies, attractive office offering and expanded services ✈ 25,000 m² state of the art office space as a result of € 60 million in investments in Office Park 4 Ground-breaking ceremony April 2018 – completion at the beginning of 2020 ✈
Slide 11: Guidance for 2018
Guidance for 2018 Outlook 2018 Revenue > € 770 million EBITDA > € 350 million Group net profit1 > € 148 million Net debt < € 250 million CAPEX > € 175 million 1) Before non-controlling interests 11
Slide 12: Segment Results H1/2018
SEGMENT RESULTS H1/2018 12 = ANI Vienna International Airport
Slide 13: On the path to a 5-Star Airport: once again top Skytrax ratings
On the path to a 5-Star Airport: once again top Skytrax ratings Vienna Airport rated seventh in Europe in 2018 and thus among the top ten and 17th globally, making it one of the 20 best airports in the world ✈ After three straight years with the “Best Airport Staff in Europe“, the second-place ranki
Slide 14: Airport: Growth continues
Airport: Growth continues ✈ Passenger volume up 5.5% to 11.8 million in € million H1/2018 H1/2017 ∆ in % passengers – single-day passenger record on July 29, 2018 with more than 100,000 External revenue 182.0 172.5 +5.5 passengers EBITDA 89.7 78.7 +14.1 ✈ The main drivers of this positive developmen
Slide 15: Handling & Security Services: Stable revenue but higher personnel expenses
Handling & Security Services: Stable revenue but higher personnel expenses ✈ Price adjustments for apron handling in € million H1/2018 H1/2017 ∆ in % compensated by higher de-icing income related to the cold winter and the External revenue 80.4 79.6 +0.9 positive development of cargo handling EBITDA
Slide 16: Retail & Properties: Slight revenue increase
Retail & Properties: Slight revenue increase ✈ Shopping and F&B: revenue up in € million H1/2018 H1/2017 ∆ in % 1.8%, PRR down slightly from € 1.99 to € 1.92 against backdrop Externe revenue 62.2 61.4 +1.4 of increasing passenger volumes EBITDA 41.6 38.2 +8.7 EBIT 32.6 29.3 +11.6 ✈ Rental income vir
Slide 17: Malta: Earnings increase thanks to strong passenger growth
Malta: Earnings increase thanks to strong passenger growth ✈ Passenger volume up 16.3% in in € million H1/2018 H1/2017 ∆ in % H1/2018 External 40.9 36.7 +11.5 revenue ✈ Revenue up 11.5%, somewhat EBITDA 23.4 20.4 +15.0 lower than passenger growth due to the incentive model promoting EBIT 18.9 16.1 +
Slide 18: Results of strategic investments
Results of strategic investments Malta Int. Airport Kosice Airport H1/2018 H1/2018 ✈ About 3.1 million passengers ✈ About 0.2 million passengers (+16.3%) (+14.2%) 2017 2017 ✈ Approx 6.0 million passengers ✈ Approx. 0.5 million passengers (+17.5%) (+13.8%) ✈ Revenue: € 82.4 million ✈ Revenue: € 11.4
Slide 19: Traffic Results H1/2018
TRAFFIC RESULTS = H1/2018 19 => ANI Vienna International Airport
Slide 20: Traffic development H1/2018 Flughafen Wien Group
Traffic development H1/2018 Flughafen Wien Group Group passenger development H1/2018 H1/2017 ∆ in % Vienna Airport (millions) 11.84 11.22 +5.5 Malta Airport (millions) 3.07 2.64 +16.3 Kosice Airport (millions) 0.21 0.19 +14.2 Vienna Airport and its strategic 15.12 14.05 +7.6 investments (VIE, MLA, K
Slide 21: Share held by scheduled airlines
Share held by scheduled airlines H1/2018 Share in % Passengers PAX ∆% vs. H1/2017 1. Austrian Airlines 49.0 5,800,116 +10.3 2. Eurowings & Germanwings 10.0 1,183,836 +19.5 3. easyJet Group1 5.0 593,589 +48.6 4. Lufthansa 3.8 451,193 +2.0 5. Turkish Airlines 2.1 249,823 +15.6 6. SWISS 2.0 235,157 +3.
Slide 22: Traffic development at Vienna Airport in July 2018
Traffic development at Vienna Airport in July 2018 July/2018 July/2017 ∆ in % Passengers (millions) 2.73 2.54 +7.4 Local passengers (millions) 1.98 1.76 +10.9 Transfer passengers (millions) 0.74 0.75 -0.8 Flight movements (in 1,000) 22.40 21.14 +6.0 MTOW (millions of tonnes) 890.57 837.33 +6.4 Seat
Slide 23: Highlights 2018: new long-haul destinations
Highlights 2018 27 new destinations thereof 3 new long-haul destinations thereof 8 new Eastern European destinations Long-haul ✈ New: Cape Town, Tokyo ✈ ✈ Increase to Delhi as of May 7th New: 3 direct flights per week to Taipeh (+1 to 4 frequencies) ✈ ✈ Daily to Addis Abeba as of June 1st New: S
Slide 24: Other highlights in 2018 & initial news about 2019
Other highlights in 2018 & initial news about 2019 New bases for Wizz Air, Laudamotion and Level ✈ ✈ New in 2018: 3 aircraft stationed in Vienna New in 2018: 4 aircraft stationed Bari, Bergen, Billund, Charkiw, Cluj, Danzig, Alicante, Barcelona, Bilbao, Dortmund, Eindhoven, Eilat, Kiev, Kutaissi, Du
Slide 25: Traffic forecast for 2018
Traffic forecast for 2018 Flughafen Wien Group: 2017 Prognose 2018 Passengers 30.9 million > +8% Flughafen Wien AG: 2017 Prognose 2018 Passengers 24.4 million > +6% ✈ Share of low cost carriers continues to rise: Growth of easyJet and Vueling, start of aircraft bases of Wizz Air, Laudamotion and
Slide 26: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 26