Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Shareholder Meeting (June 2023)
41 slides from Flughafen Wien's shareholder meeting presentation, Jun 5, 2023
Slide 1: 35th Annual General Meeting Flughafen Wien AG
5 June 2023 35th Annual General Meeting Flughafen Wien AG
Slide 2: Aviation Comeback in 2022
Aviation Comeback in 2022 Leap in earnings, elimination of debt, resumption of dividend payments Strong traffic and earnings growth in 2022 following two tough crisis years − More than doubling of prior-year passenger traffic at Vienna Airport with 23.7 million passengers and in the Flughafen Wien G
Slide 3: Positive outlook
Positive outlook The upswing will also continue in 2023 Ongoing strong flight traffic recovery from January-April 2023 − Passenger growth of about 82% in Q1/23 and approx. 38% in April at Vienna Airport and in the Group − In April 2023, passenger volume was 90% of the pre-Covid level of 04/19 − Malt
Slide 4: 2022: Group net profit up to € 128 million
2022: Group net profit up to € 128 million Recovery of flight traffic and higher productivity € million 2022 2021 Revenue 692.7 407.0 Earnings before interest, tax, depreciation and amortisation 295.9 154.4 (EBITDA) Earnings before interest and taxes (EBIT) 167.2 20.0 Financial results 1 -9.3 -10.4
Slide 5: High profitability
High profitability also in a difficult market environment EBITDA (€ million) & EBITDA margin − EBITDA margin of 42.7% in 2022 clearly 400 surpasses the 40% threshold 350 45% − Sustainable effects of cost reduction measures (above all energy) lead to a 300 40% disproportionately low increase in opera
Slide 6: Very healthy balance sheet structure
Very healthy balance sheet structure Net liquidity, equity ratio of 65% € million 2022 2021 Net liquidity (2021: net debt) 149.4 -150.4 Cash flow from operating activities 337.6 105.8 Free cash flow 33.1 66.9 CAPEX1 53.6 51.6 Equity 1,448.5 1,314.5 Equity ratio 65.1% 63.4% − Net liquidity of € 149 m
Slide 7: Complete debt elimination
Complete debt elimination Net liquidity of € 149 million in FY 2022 Net liquidity (€ million) − Debt elimination as the basis for 200 149 financial flexibility 100 − Supports the attractiveness of the company 0 in its ability to pay dividends -100 − No interest rate risk -200 − Net liquidity further
Slide 8: Resumption of dividend payments
Resumption of dividend payments € 0.77 per share for FY 2022 Dividends per share1,2 − Proposal of the Management Board to the 1,00 Annual General Meeting to distribute a dividend of € 0.77/share for FY 22 (60% 0,90 0.77 payout ratio) 0,80 0,70 − An increase in the payout ratio “exceeding 60%” as of
Slide 9: Financial guidance
Financial guidance 2023 financial year Revenue About € 830 million EBITDA > € 325 million Group net profit1 > € 150 million CAPEX About € 135 million − All planned investments can be financed from the cash flow 1) Before non-controlling interests 9
Slide 10: Treasury shares
Treasury shares Report pursuant to Section 65 Para. 3 Austrian Stock Corporation Act about treasury shares 2022 2021 Shares issued as of 1 January 84,000,000 84,000,000 Treasury shares -125,319 -125,319 Weighted average 83,874,681 83,874,681 10
Slide 11: CO2 neutral airport – Sustainability as a basis
CO2 neutral airport – Sustainability as a basis Successful and responsible business operations − Vienna Airport has been determinedly reducing its CO2 emissions through photovoltaic plants, e-mobility and new technologies to improve energy efficiency − CO2 neutral operation of the airport since Janu
Slide 12: Photovoltaic expansion
Photovoltaic expansion 8 photovoltaic facilities cover the entire electricity needs on sunny days − Vienna Airport’s 7th and 8th photovoltaic plant put into operation in 2022 − At present the eight facilities generate approx. 40 million kilowatt hours of solar power annually − Photovoltaic plants co
Slide 13: Growth of the AirportCity
Growth of the AirportCity to more than 250 companies and more than 20,000 employees − Strong growth of the “AirportCity“ due to new business location projects, in particular logistics companies; further focus on hotel capacities, meeting and conferencing, office and cargo properties − Office Park 4
Slide 14: Third Runway Project
Third Runway Project Approval for the expansion of the implementation deadline − The provincial government of Lower Austrian, which is the responsible environmental impact authority, has approved the application by Flughafen Wien AG for an extension of the implementation period for the 3rd runway pr
Slide 15: Takeover offer by IFM
Takeover offer by IFM for the remaining shares in free float was not approved by the majority − Airports Group Europe S.à r.l., an indirect subsidiary of the IFM Global Infrastructure Fund, published a partial offer on 11 August 2022 pursuant to Section 4 et seq. of the Austrian Takeover Act to acqu
Slide 16: Share price
Share price increase of 39% this year, new all-time high Share price 700 600 New all-time high of the 500 Flughafen Wien AG share 400 at EUR 45.45 on 26 May 2023 300 Increase in market 200 capitalization from 100 € 614 million on Jan. 1, 2012 to currently 0 € 3.8 billion. Flughafen Wien Fraport Flug
Slide 17: Traffic development & Segment results
Traffic development & Segment results
Slide 18: Traffic development in 2022
Traffic development in 2022 Growth of the Flughafen Wien Group Group passenger development1 2022 2021 2019 Δ 2021 Δ 2019 Vienna Airport (millions) 23.7 10.4 31.7 +127.6 -25.2 Malta Airport (millions) 5.9 2.5 7.3 +130.3 -20.0 Košice Airport (millions) 0.5 0.2 0.6 +224.1 -2.8 Vienna Airport and its st
Slide 19: Traffic development in 2022 – Vienna Airport
Traffic development in 2022 Growth of Vienna Airport Passenger development at Vienna 2022 2021 2019 Δ 2021 Δ 2019 Airport1 Passengers (millions) 23.7 10.4 31.7 +127.6% -25.2% Local passengers (millions) 17.8 7.8 24.3 +126.9% -26.8% Transfer passengers (millions) 5.8 2.5 7.2 +130.3% -19.4% Flight mov
Slide 20: Traffic development Q1/2023 & 04/2023
Traffic development Q1/2023 & 04/2023 Flughafen Wien Group Group passenger development1 Q1/2023 Δ Q1/2022 Δ Q1/2019 04/2023 Δ 04/2022 Δ 04/2019 Vienna Airport (millions) 5.3 +81.5% -12.1% 2.5 37.7% -10.2% Malta Airport (millions) 1.2 +85.1% 3.5% 0.7 37.8% 8.4% Kosice Airport (millions) 0.09 +68.7% 8
Slide 21: Traffic development Q1/2023 & 04/2023
Traffic development Q1/2023 & 04/2023 Vienna Airport Passenger development at Q1/2023 Δ Q1/2022 Δ Q1/2019 04/2023 Δ 04/2022 Δ 04/2019 Vienna Airport1 Passengers (millions) 5.3 81.5% -12.1% 2.5 37.7% -10.2% Local passengers (millions) 4.2 78.4% -12.4% 1.9 38.2% -9.5% Transfer passengers (millions) 1.
Slide 22: Focus on European destinations
2022: 69 airlines with 22 destinations in 65 countries Focus on European destinations European cities and flight interface to CEE destinations (Austrian Airlines exclusively serves several SEE destinations) Attractive long-haul routes 22
Slide 23: Top Country destinations
Performance of top countries in 20221 Top Country destinations PAX 2022 Δ 2021 Δ 2019 Germany in first place as before the pandemic Germany 3,246,405 118% -41% Spain 2,314,288 148% -4% Spain and Italy only just Italy 1,911,274 168% -4% below 2019 passenger Turkey 1,249,215 95% 10% figures United Kin
Slide 24: Market share of airlines
Market share 2022 Share in % Passengers PAX Δ% vs. 2021 PAX Δ% vs. 2019 of airlines 1. Austrian 2. Ryanair/Lauda 47.1 20.9 11,144,003 4,946,744 123.1 152.8 -18.5 86.2 3. Wizz Air 6.8 1,600,351 77.1 -23.1 4. Turkish Airlines 2.4 574,977 80.7 4.5 Lufthansa hub & 5. Eurowings 2.0 482,731 156.5 -78.8 lo
Slide 25: Airport
Airport Close to two-fold rise of revenue and EBITDA − Significant revenue increase of nearly 90% € million 2022 2021 Δ in % to € 321 million – mainly driven by the External revenue 321.0 169.5 89.3 strong recovery of passenger traffic (passenger-related fees) and increase in EBITDA 127.2 69.3 83.5
Slide 26: Handling & Security Services
Handling & Security Services Ground handling driven by flight movements − Increase in flight movements and MTOW led € million 2022 2021 Δ in % to a sharp 57% rise in ground handling External revenue 124.9 94.4 32.3 revenue to € 81 million EBITDA 5.0 3.6 39.6 − Cargo handling income was slightly belo
Slide 27: Quality
2022: Vienna Airport is Europe‘s second most punctual flight hub1 Quality Madrid 84.8% Wien 84.8% Kopenhagen 84.6% Rom 82.8% Most punctual hub in Helsinki 81.5% the Lufthansa Group, München 79.5% ahead of Munich, Istanbul Internat. 77.6% Zurich and Frankfurt Amsterdam 77.1% Oslo 76.4% Zürich 72.6% P
Slide 28: Quick security checks
Quick security checks Vienna Airport sets new standards with short waiting times − Average waiting time at the airport security checks: 4-8 minutes − Waiting times: 84% < 5 minutes 98% < 10 minutes − 24 security checkpoints in the terminals − New and state-of-the-art centralised security checks in T
Slide 29: Awards for high quality
Awards for high quality given to Vienna Airport in 2022 − ACI Award as the “Best European Airport“ for high degree of reliability, quality service and reduction in CO₂ emissions − ASQ Award: Ranked 1st in the categories “Best Airport by Size & Region“ and “Hygiene Measures by Region“ − Cargo magazin
Slide 30: Retail & Properties
Retail & Properties Significant revenue increase, strong earnings improvements − Passenger rebound led to a doubling of € million 2022 2021 Δ in % Center Management & Hospitality income External revenue 138.8 82.4 68.6 (€ 67 million) and parking fees (€ 43 million) EBITDA 81.4 48.0 69.7 − Positive e
Slide 31: Terminal 2 put into operation
Terminal 2 put into operation Improved & modern travel experience in a class of its own − Terminal 2 is once again in operation since the end of March 2022 − Large and high-quality lounge covering 2,360 m² − Attractive shopping and F&B offering − More comfort thanks to extensive glass facades and sp
Slide 32: New restaurant highlights for travellers
New restaurant highlights for travellers since Easter 2023 − Panorama Restaurant Zugvogel is open in a new design and with an open kitchen − New DO & CO food court at the C Gates with an onyx and delicatessen bar − Panorama bar of Figlmüller at the C Gates − New food/beverage offerings in the arriva
Slide 33: Leveraging non-aviation potential
Leveraging non-aviation potential Terminal 3 Southern Expansion − Passengers await an enhanced quality of their time at the airport featuring greater comfort, service and a significant expansion of their shopping and gastronomical experience − Enlargement of Terminal 3 by approx. 70,000 m² (“Souther
Slide 34: The new Southern Expansion
The new Southern Expansion of Terminal 3 brings enhanced quality and more shopping and F&B space 34
Slide 35: The new Southern Expansion
The new Southern Expansion of Terminal 3 brings enhanced quality and more shopping and F&B space 35
Slide 36: Malta
Malta “Sun & sea“ destination as a focal point of people‘s desire to travel − Strong 130% passenger growth to almost 6 € million 2022 2021 Δ in % million travellers External revenue 88.0 47.4 85.6 − Holiday destination (“sun and sea”) EBITDA 55.1 24.5 125.1 − Substantial revenue growth driven by EBI
Slide 37: Investments Malta
Investments Malta Airfield / Sky Parks 3 / Westward Expansion / Apron X 37
Slide 38: Kosice
Kosice Consolidated at equity – Passenger volume in H2/2022 already above 2019 − 539,749 passengers in 2022, +224% year-on-year − 2019: 555,325 passengers − H2 2022 passenger volume much higher than in 2019 − Revenue in 2022: € 20.1 million − EBITDA in 2022: € 3.5 million − Net profit: € 2.0 million
Slide 39: Airline highlights – Summer flight schedule
Airline highlights – Summer flight schedule Positive outlook – increased capacities in the summer1 − Up to 190 destinations in 67 countries served in the summer by 60 airlines − Seat capacities offered in the summer at about 90% of the comparable 2019 level − Many flight offerings in Europe and the
Slide 40: Traffic forecast for 2023
Traffic forecast for 2023 Growth trend continues Vienna Airport: Forecast 2019 2021 2022 2023 Passengers 31.7 million 10.4 million 23.7 million 26-27 million Flughafen Wien Group: Forecast 2019 2021 2022 2023 Passengers 39.5 million 13.1 million 30.1 million 32-34 million − Very good demand and book
Slide 41: Thank you for participating!
Thank you for participating! 41