Slide 1: Results for the First Half Year 2012
Flughafen Wien AG Results for the First Half Year 2012 11
Slide 2: Vienna International Airport on track – 1st year under new management
Vienna International Airport on track – 1st year under g new management • Significant effects from cost-cutting package: increase in non-personnel costs and personnel expenses decelerated • New management team and streamlined organization • CAPEX up to 2015 reduced to € 590 mill. • Decelerated ratio
Slide 3: Positive development in the First Half Year 2012
Positive development in the First Half Year 2012 • Passenger traffic improves by 7.9% in H1/2012, expected deceleration of traffic ff growth in the 2ndd halff off 2012 • Revenue rises by 4.7% in H1/2012 • EBITDA +11.0% to € 109.3 mill. and EBIT +4.0% to € 68.7 mill. over H1/2011 • Net profit after n
Slide 4: At a Glance: Financial Data for the First Half Year 2012
At a Glance: Financial Data for the First Half Year 2012 in € mill. H1/2012 H1/2011 ∆ in % Revenue 293.6 280.3 +4.7 4.7 Earnings before interest, taxes, depreciation and 109.3 98.5 +11.0 amortisation (EBITDA) Earnings before interest and taxes (EBIT) 68.7 66.0 +4.0 Financial results -5.0 5.0 -7.9 7.
Slide 5: At a Glance: Financial Data for Q2/2012
At a Glance: Financial Data for Q2/2012 in € mill. Q2/2012 Q2/2011 ∆ in % Q1/2012 Revenue 154.5 148.8 +3.9 139.0 Earnings before interest, taxes, depreciation and 59.5 54.3 +9.7 49.8 amortisation (EBITDA) Earnings before interest and taxes (EBIT) 38.2 38.0 +0.6 30.4 Fi Financial i l results lt -2.6
Slide 6: Expenses
Expenses • Consumables and services used slightly in € mill. H1/2012 H1/2011 ∆ in % higher due to an increase in energy consumption ((+ € 1.0 mill.)) Consumables and -20 6 -20.6 -19 7 -19.7 +4 8 +4.8 • Personnel expenses: increased by only services used 1.3% in the first half year 2012 despite Perso
Slide 7: Debt and Gearing
Debt and Gearing • Premature repayment of part of a 30.6.2012 31.12.2011 ∆ in % promissory note (€ 64.0 mill.) reduced cash and cash equivalents Net debt (in € mill.) 749.7 751.7 -0.3 by 55.7% and led to a decline in current assets Gearing (in %) 89 3 89.3 92 6 92.6 na n.a. • Reclassification of € 4
Slide 8: Cash flow and Investments
Cash flow and Investments • Cash flow from operating activities Cash Flow (in € mill.) Improvement of € 16.4 mill. due to higher 150 revenues and lower income tax payments 100 • Cash flow from investing activities 58 slightly reduced – payments and 50 receivables were lower in H1/2012 81 65 • Cash F
Slide 9: At a Glance: Traffic Results for the First Half Year 2012
At a Glance: Traffic Results for the First Half Year 2012 H1/2012 H1/2011 ∆ in % Passengers (in mill.) 10.4 9.7 +7.9 Transfer passengers (in mill.) 3.3 2.8 +17.6 W t Western Europe E (in (i mill.)* ill )* 35 3.5 34 3.4 +4 7 +4.7 Eastern Europe (in mill.)* 1.1 0.9 +19.6 Flight movements (in 1,000) 12
Slide 10: Traffic Results for the First Half Year 2012
Traffic Results for the First Half Year 2012 +7.8% 88.1% +19.6% 20.2% +4 7% +4.7% +18.4% 67.9% 2.0% +10.8% +10 8% 4.9% -1.2% 3.4% +19.6% 1.6% 10 10
Slide 11: Vienna Airport is the leading hub to Eastern Europe
Vienna Airport is the leading hub to Eastern Europe New Airlines1) New Destinations1) Frequency Increases1) • Estonian Air (Tallinn) • Heringsdorf-Usedom • Riga (Air Baltic) • OLT Express (seasonal) • Bagdad, Barcelona, ((Heringsdorf-Usedom) g ) • Paris-Orlyy ((until 25.6)) Belgrade, g , Bucharest,,
Slide 12: Traffic Results – Share of Airlines
Traffic Results – Share of Airlines H1/2012 H1/2011 ∆ in % Passengers (in mill.) 10.4 9.7 +7.9 Share in % Share in % PAX ∆ in % AUA 49.7 49.0 +9.5 L fth Lufthansa 54 5.4 53 5.3 +10.8 10 8 Germanwings 2.3 2.4 +3.3 Swiss S ss 1.5 5 1.7 -1.3 3 Total Lufthansa Group1) 61.2 61.0 +8.2 Niki 11.4 11.6 +5.3
Slide 13: Airport Segment
Airport Segment • Revenue growth in H1/2012 driven by H1/2012 H1/2011 ∆ in % strong increase in passengers(+7.9%) and External revenue the newly implemented higher security (in € mill.) 146.6 138.8 +5.6 tariff EBITDA (in € mill.) 63.8 59.4 +7.5 • Transfer passengers: +17.6% +17 6% EBIT (in € mill.)
Slide 14: Handling Segment
Handling Segment • Market share nearly unchanged at H1/2012 H1/2011 ∆ in % approx. 90% External revenue 79.5 79.7 -0.2 • Improvement in EBITDA and EBIT (in € mill.) margins from 5.9% to 10.8% and from EBITDA (in € mill.) 12.2 6.4 +91.8 3.0% to 8.3%, respectively, due to higher operating income EBIT
Slide 15: Retail & Properties Segment
Retail & Properties Segment • Higher income from shops and H1/2012 H1/2011 ∆ in % gastronomy due to strong growth External revenue in passenger volume (in € mill.) 59.6 53.9 +10.6 • Sound development of income from EBITDA (in € mill.) 38.5 37.3 +3.3 parking and rentals EBIT (in € mill.) 31.6 30.0 +5
Slide 16: Segment Results in the First Half Year 2012
Segment Results in the First Half Year 2012 Airport Handling Retail Properties Other Segments ∆ in % ∆ in % ∆ in % ∆ in % External revenue 146.6 +5.6 79.5 -0.2 59.6 +10.6 7.7 -0.8 (in € mill.) EBITDA (in € mill.) 63.8 +7.5 12.2 +91.8 38.5 +3.3 7.4 +4.6 EBIT (in € mill.) 39.3 -7.8 9.3 +192.8 31.6 +5.
Slide 17: FWAG Investments H1/2012
FWAG Investments H1/2012 • Malta 1,579,468 passengers (+1.5% vs. H1/2011) Earnings contribution to FWAG: € 1.5 mill. (+15.6%) • Kosice 88 859 passengers ((-11.2% 88,859 11 2% vs vs. H1/2011) Earnings contribution to FWAG: € 0.2 mill. (-7.8%) • Friedrichshafen 241,028 passengers (-6.6% vs. H1/2011) E
Slide 18: Outlook 2012
Outlook 2012 • Traffic forecast: • Increase of 4% to 5% in passengers expected • Expectations for MTOW (-2% to -3%) and flight movements (0% to -1%) remain unchanged • „Normalised“ impact of Check-in 3 on the results (income and expenses) will not be seen before Q3/2012 • First- instance ruling of t
Slide 19: Financial targets for 2012 confirmed – profit after tax raised to > € 60 mill.
Financial targets for 2012 confirmed – forecast for net p profit after tax raised to > € 60 mill. 2011 2012 Revenue € 582 mill. Slight increase, over € 600 mill. EBITDA € 189 mill. Over € 200 mill. Net p profit € 31.6 mill. Over € 60 mill. < 4x EBITDA Net debt € 751.7 mill. Less than 4x EBITDA (< €
Slide 20: Thank you for your attention!
Thank you for your attention! 20 20
Slide 21: Appendix
Appendix 21 21
Slide 22: At a Glance: Traffic Results Q2/2012
At a Glance: Traffic Results Q2/2012 Q2/2012 Q2/2011 ∆ in % Passengers (in mill.) 5.9 5.6 +6.8 Transfer passengers (in mill.) 1.9 1.6 +14.0 W t Western Europe E (in (i mill.)* ill )* 20 2.0 20 2.0 +4 0 +4.0 Eastern Europe (in mill.)* 0.6 0.5 +16.6 Flight movements (in 1,000) 64.2 63.5 +1.2 MTOW (in
Slide 23: Traffic development: 3 years
Traffic development: 3 years 2.500 800 PAX Transfer 700 2.000 600 1.500 500 2012 PAX 2012 Transfer PAX 400 2011 PAX 2011 Transfer PAX 1 000 1.000 2010 PAX 300 2010 Transfer PAX 200 500 100 0 0 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec 25 800
Slide 24: Traffic development: 5 years
Traffic development: 5 years 2.500 800 PAX Transfer 700 2.000 600 1.500 2012 PAX 500 2012 Transfer PAX 2011 PAX 2011 Transfer PAX 400 2010 PAX 2010 Transfer PAX 1 000 1.000 2009 PAX 300 2009 Transfer PAX 2008 PAX 2008 Transfer PAX 200 500 100 0 0 Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan
Slide 25: 3 months of operation in Check-in 3: Full operations runs smoothly
3 months of operation in Check-in 3: Full operations runs smoothly • The new Check-in 3 started full operations on 5.6.2012 • 2.7 mill. passengers have already used the Check-in 3 • Live operations largely failure-free : • Successful S f l start t t off operations ti – 25 minutes i t MCT maintained