Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1 2017 Earnings Presentation
23 slides from Flughafen Wien's earnings presentation, May 2017
Slide 1: Flughafen Wien AG Q1/2017 Results
FLUGHAFEN WIEN AG Q1/2017 Results
Slide 2: Q1/2017 characterised by passenger growth and improved earnings
Q1/2017 characterised by passenger growth and improved earnings Q1 passenger growth in Vienna of +3.7% (Group: +6.6%) despite later Easter (already in March in 2016, first in April in 2017); strong increase in passenger volume in Malta (+22.2%) but also positive performance in Kosice (+8.5%) Revenue
Slide 3: Positive operating results thanks to strong passenger development
Positive operating results thanks to strong passenger development in € million Q1/2017 Q1/2016 ∆ in % Revenue 160.6 154.0 +4.3 Earnings before interest, tax, depreciation and 60.7 59.7 +1.6 amortization (EBITDA) Earnings before interest and taxes (EBIT) 26.0 25.2 +3.5 Financial results -4.5 -5.4 +16
Slide 4: Expenses: Slight rise in costs
Expenses: Slight rise in costs ✈ Expenses for consumables and services ∆ in in € million Q1/2017 Q1/2016 used up by € 1.5 million due to % higher consumption of de-icing material Consumables and -10.6 -9.2 +16.1 and fuel services used Personnel expenses -67.6 -66.8 +1.3 ✈ Personnel expenses rise by
Slide 5: Further reduction of net debt: € 30.9 million less than end of 2016
Further reduction of net debt: € 30.9 million less than end of 2016 Q1/2017 Q1/2016 ∆ in % Net debt (€ million)1 324.6 355.5 -8.7 Gearing (%)1 28.0 31.1 n.a. Cash flow from operating activities 66.5 61.2 +8.7 (€ million) Free cash flow (€ million) 40.7 116.2 -64.9 CAPEX (€ million)2 35.6 11.8 n.a. E
Slide 6: Further improvement in net debt (€ 324.6 million) and gearing (28.0%)
Further improvement in net debt (€ 324.6 million) and gearing (28.0%) ✈ Net debt reduced by € 30.9 million to 31.3.2017 31.12.2016 ∆ in % € 324.6 million Net debt ✈ Stable non-current assets: depreciation 324.6 355.5 -8.7 (€ million) and amortisation offset by investments Gearing (%) 28.0 31.1 n.a.
Slide 7: Improved operating cash flow
Improved operating cash flow ✈ Free cash flow considerably below the in € million Q1/2017 Q1/2016 ∆ in% prior-year level due to development of the cash flow from investing activities Cash flow from operating 66.5 61.2 +8.7 (Q1/2016: advance rental payment activities by Austrian Airlines – Hermione)
Slide 8: Share price development since January 2012
Share price development since January 2012: +371% – market capitalisation about € 2.9 billion 500 +371% 450 400 Indexed to 100 350 300 +162% 250 200 150 +63% 100 50 FWAG ATX Benchmark (FRA, ADP, ZRH) average Share price development from January 1, 2012 to May 12, 2017 8
Slide 9: Vienna Airport continues on growth path
Vienna Airport continues on growth path ✈ MOXY Hotel open since March 2017, 20,000 m² new office space in Office Park 4 as of 2020 ✈ Expansion of Air Cargo Centers by 15,000 m² by the end of 2017 ✈ Investments of € 30 million in measures to reduce CO2 emissions – planned construction of one of Austr
Slide 10: Guidance confirmed for 2017
Guidance confirmed for 2017 Outlook 2017 Revenue > € 740 million EBITDA > € 315 million Group net profit1 > € 120 million Net debt < € 350 million CAPEX > € 100 million 1) Before non-controlling interests 10
Slide 11: Segment Results Q1/2017
11 => ANI Vienna International Airport
Slide 12: Airport: Positive development surpassing Q1/2016 even without Easter effect
Airport: Positive development surpassing Q1/2016 even without “Easter effect“ ✈ Passenger volume up 3.7% in € million Q1/2017 Q1/2016 ∆ in % to 4.6 million travellers External revenue 75.0 74.0 +1.4 ✈ Main drivers of this positive EBITDA 27.3 26.4 +3.6 development were Austrian Airlines, Eurowings a
Slide 13: Handling: Higher revenue despite slight drop in flight movements
Handling: Higher revenue despite slight drop in flight movements ✈ Rise in income despite modest drop in flight movements related to in € million Q1/2017 Q1/2016 ∆ in % deployment of larger aircraft (higher External revenue 39.0 35.8 +8.9 MTOW), new customers, price adjustments as well as higher EBI
Slide 14: Retail & Properties: Slight revenue increase
Retail & Properties: Slight revenue increase ✈ Shopping and F&B: recovery on in € million Q1/2017 Q1/2016 ∆ in % the horizon due to good External revenue 29.4 28.5 +3.2 development for passengers from Russia and China (PRR at EBITDA 18.0 20.0 -9.8 € 2.15 vs. € 2.11 in Q1/2016) EBIT 13.5 15.5 -12.8 ✈
Slide 15: Malta: Earnings increase due to strong passenger growth
Malta: Earnings increase due to strong passenger growth ✈ +22.2% passenger growth in in € million Q1/2017 Q1/2016 ∆ in % Q1/2017 External revenue 13.4 11.6 +15.8 EBITDA 5.6 4.1 +35.5 ✈ Significant revenue increase reflects flight traffic development: Airport EBIT 3.5 1.8 +89.4 and Retail & Propertie
Slide 16: Results of strategic investments
Results of strategic investments Malta Int. Airport Kosice Airport Q1/2017 Q1/2017 ✈ About 1.0 million passengers (+22.2%) ✈ About 0.1 million passengers (+8.5%) 2016 2016 ✈ About 5.1 million passengers (+10.0%) ✈ About 0.4 million passengers (+6.4%) ✈ Revenue: € 73.1 million ✈ Revenue: € 9.1 millio
Slide 17: Traffic Results Q1/2017
17 => ANI Vienna International Airport
Slide 18: Traffic development Q1/2017 Flughafen Wien Group
Traffic development Q1/2017 Flughafen Wien Group Group passenger development Q1/2017 Q1/2016 ∆ in % Vienna Airport (millions) 4.56 4.40 +3.7 Malta Airport (millions) 0.98 0.80 +22.2 Kosice Airport (millions) 0.08 0.07 +8.5 Vienna Airport and its strategic 5.62 5.27 +6.6 investments (VIE, MLA, KSC) T
Slide 19: Shares of scheduled carriers
Shares of scheduled carriers Q1/2017 Share in % Passengers PAX ∆% vs. Q1/2016 1. Austrian Airlines 42.4 1,932,735 +3.5 2. Eurowings & Germanwings 7.9 359,291 +47.5 3 airberlin 7.0 319,044 +9.6 4. Lufthansa 4.7 215,159 +4.7 5. easyJet Group1 3.6 166,498 +45.5 6. Emirates 2.7 123,434 +16.3 7. NIKI 2.6
Slide 20: Traffic development at Vienna Airport in April 2017
Traffic development at Vienna Airport in April 2017 Apr./2017 Apr./2016 ∆ in % Passengers (millions) 2.12 1.85 +14.6 Local passengers (millions) 1.56 1.36 +14.8 Transfer passengers (millions) 0.56 0.48 +14.6 Flight movements (in 1,000) 18.63 18.96 -1.7 MTOW (millions of tonnes) 738.79 714.99 +3.3 Se
Slide 21: New flight offerings and discontinued flight service in 2017
New flight offerings and discontinued flight service in 2017 ✈ Austrian Airlines ✈ Eurowings New: Los Angeles, Mahé (Seychelles), New: Birmingham, Brindisi, Hurghada, Burgas, Gothenburg, Shiraz Ibiza, Jerez, Kalamata, Kavala, Lamezia Frequency increases: Cairo, Hamburg, Terme, Las Palmas, Madrid, Ma
Slide 22: Traffic forecast for 2017: Upward revision of guidance is likely
Traffic forecast for 2017: Upward revision of guidance is likely Flughafen Wien Group: 2016 Forecast 2017 Passengers 28.9 million +1% to +3% Flughafen Wien AG: 2016 Forecast 2017 Passengers 23.4 million 0% to +2% ✈ Recovery of flight traffic to Eastern Europe ✈ Far-reaching capacity reductions d
Slide 23: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 23