Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2007 Earnings Presentation
41 slides from Flughafen Wien's earnings presentation, March 2008
Slide 1: Company Presentation Flughafen Wien AG Results 2007
Company Presentation Flughafen Wien AG Results 2007 March 2008 -1-
Slide 2: Content
Content z 1. Highlights 2007 z 2. Financial Results 2007 and Investments z 3. Results by Segment z 4. Traffic Results z 5. Strategy z 6. International Investments -2-
Slide 3: Highlights 2007
Highlights 2007 -3-
Slide 4: Highlights 2007
Highlights 2007 z Revenue: EUR 521.4 m. + 12.4% z EBITDA: EUR 191.0 m. + 12.6% z Net profit : EUR 87.7 m. + 14.2% after minority interests z Dividend per share: EUR 2.50 + 13.6% z Passengers: + 11.3% (above European average of 6.5 %*) * Source: ACI -4-
Slide 5: Financial Results 2007
Financial Results 2007 -5-
Slide 6: Financial Results 2007
Financial Results 2007 Change EUR m. 2007 2006 in % Revenues 521.4 463.9 + 12.4 Other income 14.3 13.4 + 7.1 Operating income 535.7 477.3 + 12.3 Operating expenses 344.7 307.6 + 12.1 (excl. depreciation) EBITDA 191.0 169.6 + 12.6 Depreciation 70.6 66.0 + 7.1 EBIT 120.3 103.7 + 16.1 Financial results
Slide 7: Financial Results 2007: Revenue by Segment
Financial Results 2007 Revenue by Segment Non - Aviation Handling EUR 132.2 m. EUR 147.0 m. + 17.2 % + 5.3 % 25.3 % 28.2% Revenue structure 46.5 % excl. Handling Airport EUR 242.2 m. 35.3 % 64.7% + 14.6 % -7-
Slide 8: Summary of Operating Expenses
Financial Results 2007 Summary of Operating Expenses Change EUR m. 2007 2006 in % Consumables and services used 37.0 34.5 + 7.3 Personnel expenses 213.4 197.9 + 7.8 Depreciation 70.6 66.0 + 7.1 Other operating expenses 94.4 75.2 + 25.5 Total operating expenses 415.4 373.6 + 11.2 EBT -8-
Slide 9: Cash Flow
Financial Results 2007 Cash Flow 2007 2006 EUR m. From operating activities + 164.4 + 142.2 From investing activities - 277.1 - 266.4 From financing activities + 50.1 + 192.9 Change in cash and cash equivalents - 62.6 + 68.7 incl. revaluation reserve for securities and foreign exchange differences C
Slide 10: Financial Indicators
Financial Results 2007 Financial Indicators in % 2007 2006 EBIT margin 22.5 21.7 EBITDA margin 35.7 35.6 ROE 12.0 11.3 ROCE 9.1 9.2 ROS 36.6 36.6 Gearing 40.4 25.2 - 10 -
Slide 11: Investments 2008 – 2012 (excl. purchase of land)
Investments 2008 – 2012 (excl. purchase of land) EUR m. Terminals 333 Apron, taxiways 40 Construction on the core zone 65 Security 64 Parking 28 Others 59 TOTAL 589 3rd runway 2010 – 2012: 208 - 11 -
Slide 12: Investments 2008 – 2012 (excl. purchase of land)
Investments 2008 – 2012 (excl. purchase of land) in EUR m. Airport- und Non-Aviation Investments 290 2008 - 2012: EUR 589.2 m. In addition: maintenance and replacement investments of EUR 30 – 35 m. p.a. 195 99 74 Additional for 3rd runway 35 53 34 17 2008 2009 2010 2011 2012 - 12 -
Slide 13: Results by Segment
Results by Segment - 13 -
Slide 14: Airport Segment
Results by Segment Airport Segment* EUR m. 2007 2006 Revenue 242.2 211.3 Segment earnings (EBIT) 94.1 75.7 EBIT margin in % 34.4 31.4 EBITDA margin in % 48.4 46.9 Av. number of employees 378 382 * Airport Segment The Airport Segment covers the operation and maintenance of the terminal and movement a
Slide 15: Handling Segment
Results by Segment Handling Segment* EUR m. 2007 2006 Revenue 147.0 139.6 Segment earnings (EBIT) 11.8 12.8 EBIT margin in % 6.9 7.9 EBITDA margin in % 11.4 12.0 Av. number of employees 2,089 2,020 * Handling Segment The Handling Segment provides a wide range of services for scheduled, charter and g
Slide 16: Non-Aviation Segment
Results by Segment Non – Aviation Segment* EUR m 2007 2006 Revenue 132.2 112.8 Segment earnings (EBIT) 35.2 35.2 EBIT margin in % 17.6 19.6 EBITDA margin in % 29.9 31.5 Av. number of employees 1,465 1,278 * Non-Aviation Segment The Non-Aviation Segment comprises various services related to airport o
Slide 17: Traffic Results 2007
Traffic Results 2007 - 17 -
Slide 18: Highlights
Highlights z Traffic growth in 2007 + 11.3 % above European average (+ 6.5%*) z Strong development in flights to Middle East + 18.5 % z Flights to Eastern Europe + 24.8 % z Low-cost carriers + 57.2% z 20 million passengers expected in 2008 (instead of 2010) * Source: ACI - 18 -
Slide 19: Traffic Results 2007
Traffic Results 2007 Passengers: 18,768,468 (+11.3%) Transfer passengers: 5,991,884 (+5.6%) Flight movements: 254,870 (+7.3%) MTOW (in tonnes): 7,347,754 (+8.6%) Cargo incl. trucking (in tonnes): 272,362 (+2.5%) - 19 -
Slide 20: Scheduled Traffic Passengers
Traffic Results 2007 Scheduled Traffic ”Passengers” Europe total + 16.0% 85.8% Eastern Europe Western Europe North America + 24.8% + 13.8% + 15.2% 67.9% 17.9% 2.9% Middle East Far East + 18.5% - 17.3% 4.3% 5.6% Others + 11.0% 1.4% Change vs. 2006 Share of total passengers - 20 -
Slide 21: Airlines – share of passengers
Traffic Results 2007 Airlines – share of passengers % 2007 2006 Austrian Airlines Group 52.6 57.0 Air Berlin 6.7 6.3 Niki 5.5 4.5 Lufthansa 5.3 5.6 Skyeurope Airlines 3.4 0.0 Germanwings 2.5 2.1 British Airways 1.8 2.1 Swiss Intl. 1.7 1.8 Air France 1.6 1.8 KLM 1.2 1.4 Others 17.7 17.4 - 21 -
Slide 22: Comparison of Eastern Europe destinations and frequencies
Traffic Results 2007 Comparison of Eastern Europe destinations and frequencies - summer 2007 - 22 -
Slide 23: Comparison - Punctuality at European Hubs
Traffic Results 2007 Comparison - Punctuality at European Hubs Departures delayed more than 15 minutes delayed flights (more than 15 min.) in % Vienna International Airport 17.9 Milan Malpensa 21.1 Amsterdam 21.4 Zurich 21.4 Munich 22.6 Copenhagen 22.7 Frankfurt 24.3 Paris CDG 27.3 Rome 30.1 London
Slide 24: Traffic Results 1-2/2008
Traffic Results 1-2/2008 January- January February February 2008 2008 2008 Passengers 1,314,531 1,360,041 2,674,572 Change in % + 14.5 + 20.3 + 17.4 MTOW (in tonnes) 598,507 586,560 1,185,067 Change in % + 14.5 + 20.3 + 17.3 Flight movements 20,912 20,443 41,355 Change in % + 11.6 + 16.3 + 13.9 Carg
Slide 25: Forecast 2008
Forecast 2008 • Passengers + 8.0 % • MTOW + 6.0 % • Flight movements + 6.0 % - 25 -
Slide 26: Long-Term Forecast
Long-Term Forecast Number of passengers at Vienna International Airport 2000 - 2015 35 Average growth rate 2009-2010: ~ 6.0% Average growth rate 2011-2015: ~ 5.3% 29.5 30 28.0 26.6 PAX in mill. 25.3 24.0 25 22.8 21.5 20.3 18.8 20 16.9 14.8 15.9 Forecast 2008: + 8.0% 15 12.8 11.9 11.9 12.0 2007: + 11
Slide 27: Strategy
Strategy - 27 -
Slide 28: Strategy
Strategy Airport Segment ¾ Goal: growth of 1% above European average Handling Segment ¾ Goal: safeguard market share and quality standards Non-Aviation Segment ¾ Goal: significant increase in shops and gastronomy ¾ Real estate development - 28 -
Slide 29: Strategy: Airport Segment
Strategy Airport Segment z Focus on Eastern Europe, transfer hub and low-cost carriers ¾ Key gateway to Eastern Europe (+24.8% in passengers during 2007) ¾ High share of transfers (31.9%) ¾ Low-cost carriers: 18.7% share of passenger volume z Marketing activities ¾ Increased international marketing
Slide 30: Tariffs in Comparison
*Flights to all regions - all airlines - excl. security Tariffs in Comparison* Continuation of incentive programme 1 M AD 63% 2 CPH 70% Durchschnitt 3 GVA 71% 4 ZRH 74% 5 KLU 77% 6 BRU 78% 7 M LA 83% 8 PRG 83% 9 M XP 85% 10 VIE 95% 11 BUD 95% 12 WAW 97% 13 TXL 98% 14 STR 99% - Average 100% 15 SZG 10
Slide 31: Tariffs 2008
Tariffs 2008 Major changes as of 1.1.2008 z 0.09% decrease in the landing charge, parking fee and airside infrastructure charge z 1.04% decrease in the passenger service charge and landside infrastructure charge - 31 -
Slide 32: Strategy: Handling Segment
Strategy Handling Segment z Contracts were concluded in 2008, among others, with following customers: • Air Berlin • NIKI • SkyEurope • Easy Jet • Korean Air • Delta Air Lines • Saudi Arabian Airlines z In January 2008 contracts were concluded with: • Lufthansa • Germanwings z Market share 2007: 89.
Slide 33: Strategy: Non-Aviation Segment
Strategy Non – Aviation Segment Terminal extension - Skylink : z Substantial increase in gastronomy and shop space beginning in 2009 z Start of tender process for 52 retail shops Existing Reduction in Additional Additional Space Space from space in space from space space in T2 2009 2010 onwards 2007
Slide 34: Strategy: Non-Aviation Segment
Strategy Non - Aviation Segment z Parking: ¾ Current status: 16,343 parking spaces – thereof 8,728 in car parks ¾ Plus 5,000 spaces in Mazur parking lot (off airport) ¾ Expansion: 2,250 parking spaces in car park 4 (beginning in mid-2008) z Vienna International Airport Security Services GesmbH ¾ Inc
Slide 35: International Investments
International Investments - 35 -
Slide 36: International Investments
International Investments Friedrichshafen Kosice Malta - 36 -
Slide 37: Kosice Airport
International Investments Kosice Airport Second largest airport in Slovakia 66% stake held by TwoOne Consortium since 25 October 2006 Location near borders of: Poland – Ukraine – Hungary - Slovakia 443,448 passengers in 2007 (+29%) Investment programme: ~EUR 11 m. - 37 -
Slide 38: Malta Airport
International Investments Malta Airport Owners – Government of Malta: 20.0% – Private investors: 29.9% – VIE through 100% subsidiary 10.1% – MMLC (thereof VIE: 57%) 40.0% 2,970,830 passengers in 2007 (+10.4%) - 38 -
Slide 39: Friedrichshafen Airport
International Investments Friedrichshafen Airport Flughafen Wien AG is the largest single shareholder with stake of 25.15% Located near borders of: Germany – Austria – Switzerland 655,689 passengers in 2007 (- 0.3%) - 39 -
Slide 40: Investor Relations contact
Robert Dusek Für weitere Investor Informationen kontaktieren Sie bitte: Relations Tel: 01/7007-23126 Fax: 01/7007-23058 E-mail: r.dusek@viennaairport.com Michael Kochwalter Communications Tel: 01/7007-23333 Fax: 01/7007-23806 E-mail: m.kochwalter@viennaairport.com VIE in the Internet: Flughafen Wien
Slide 41: Company Presentation Flughafen Wien AG Results 2007
Company Presentation Flughafen Wien AG Results 2007 March 2008 - 41 -