Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q3 2015 Earnings Presentation
22 slides from Flughafen Wien's earnings presentation, 2015
Slide 1: Flughafen Wien AG Results Q1-3/2015
FLUGHAFEN WIEN AG Results Q1-3/2015
Slide 2: Q1-3/2015: Improved traffic results
Q1-3/2015: Improved traffic results - Disproportionally high increase in earnings ✈ Recovery of passenger volume: traffic results positive once again, showing 1.5% rise from the previous year in Q1-3/2015 in spite of crisis regions and temporary capacity reductions by Austrian Airlines ✈ Good busine
Slide 3: Continuous improvement in the EBITDA margin demonstrates strong productivity gains
Continuous improvement in the EBITDA margin demonstrates strong productivity gains 45% 40% 35% 30% 25% 44.1% 42.1% 20% 38.8% 39.7% 36.5% 31.5% 32.5% 15% 10% 5% 0% 2010 2011 2012 2013 2014 Q1-3/2014 Q1-3/2015 3
Slide 4: Steady earnings improvement, slight rise in passenger volume
Steady earnings improvement, slight rise in passenger volume € million Q1-3/2015 Q1-3/2014 ∆ in % Revenue 495.1 476.8 +3.8 Earnings before interest, tax, depreciation 218.6 200.8 +8.8 and amortization (EBITDA) Earnings before interest and taxes (EBIT) 118.2 105.8 +11.7 Financial results -8.6 -8.3 +2
Slide 5: Expenses: further reduction of cost level in spite of salary increases
Expenses: further reduction of cost level in spite of salary increases ✈ Expenses for consumables and € million Q1-3/2015 Q1-3/2014 ∆ in % services used down € 2.7 million Consumables and from the previous year as a services used -25.5 -28.2 -9.7 result of reduced energy costs and fuel consumption P
Slide 6: Further reduction in net debt (-20.5%)
Further reduction in net debt (-20.5%) Gearing improved to 40.1% Q1-3/2015 Q1-3/2014 ∆ in % Net debt (€ million) 1) 402.3 506.2 -20.5 Gearing (%) 1) 40.1 53.1 -13.0%p. Cash flow from operating activities 186.6 186.8 -0.1 (€ million) Free cash flow (€ million) 139.1 139.3 -0.2 CAPEX (€ million) 2) 45
Slide 7: Improvement in the maturity structure – net debt down
Improvement in the maturity structure – net debt down to € 402.3 million Maturity structure (as of December 31, 2014; € million) 600 500 400 300 200 100 0 2015 2016 2017 2018 2019 Financial liabilities thereof due in 2015 7
Slide 8: Constantly strong cash flow, CAPEX slightly below prior-year level
Constantly strong cash flow CAPEX slightly below the prior-year level ✈ Constantly strong free cash level despite higher Cash flow (€ million) tax payments and net cash flow from investing 200 180 activities at the prior-year level 160 ✈ Cash flow from operating activities the same 140 as in the pre
Slide 9: CAPEX outlook reduced to below € 95 million
CAPEX outlook reduced to below € 95 million as a result of cost reductions, delays and cancellation iof several projects Main projects in2015: ✈Purchase of winter service and equipment parking garages ✈Project start for the expansion of the Air Cargo Center ✈Preparations for new hotel construction ✈
Slide 10: Outlook for 2015: Upward revision of guidance
Outlook for 2015: Upward revision of guidance – Clear earnings improvement expected in 2015 2014 Financial objectives in 2015 Revenue € 630.2 million > € 650 million EBITDA € 250.2 million > € 260 million Group net profit1) € 82.5 million ≥ € 95 million Net debt € 506.2 million ≤ € 500 milli
Slide 11: Segment Results
SEGMENT RESULTS = “Wi Vienna International Airport
Slide 12: Airport: Revenue increase in spite of pressure from crisis regions
Airport: Revenue increase in spite of pressure from crisis regions ✈ Negative impact of crisis regions € million Q1-3/2015 Q1-3/2014 ∆ in % more than offset by positive External revenue 273.0 262.1 +4.1 impetus from Western Europe, Middle East, North America, Far EBITDA 127.0 115.6 +9.9 East and Afr
Slide 13: Handling: Negative impact due to reduced flight movements
Handling: Negative impact due to reduced flight movements – positive development of PAX handling € million Q1-3/2015 Q1-3/2014 ∆ in % ✈ Decline in revenue from cargo handling due to lower cargo volumes External revenue 113.6 109.8 +3.5 and partly from apron handling as a EBITDA 15.9 13.7 +16.1 resul
Slide 14: Retail & Properties: Strong development of shopping & gastro income
Retail & Properties: Strong development of shopping & gastro income ✈ Shopping and gastro strategy € million Q1-3/2015 Q1-3/2014 ∆ in % has a positive impact: revenue External revenue 96.8 93.3 +3.8 (+ 8.3%) higher than PAX rise and higher income per EBITDA 59.2 59.0 +0.3 passenger in spite of crise
Slide 15: Results of strategic investments in 2014, Q1-3/2015
Results of strategic investments in 2014, Q1-3/2015 Malta Int. Airport Airport Kosice Q1-3/2015 Q1-3/2015 ✈ ~3,623,000 passengers (+7.0%) ✈ ~328,400 passengers (+9.8%) 2014 2014 ✈ About 4.3 million passengers (+6.4%) ✈ About 0.4 million passengers (+50.4%) ✈ Revenue: € 64.3 million ✈ Revenue: € 9.0
Slide 16: Traffic Results
TRAFFIC RESULTS Results and outlook 2015
Slide 17: Traffic development at Vienna Airport Q1-3/2015
Traffic development at Vienna Airport Q1-3/2015 Q1-3/2015 Q1-3/2014 ∆ in % Passengers (millions) 17.49 17.22 +1.5 Local passengers (millions) 12.49 12.08 +3.4 Transfer passengers (millions) 4.92 5.09 -3.3 Flight movements (in 1,000) 172.98 175.68 -1.5 MTOW (millions of tonnes) 6.38 6.17 +3.3 Seat lo
Slide 18: Shares of scheduled carriers Q1-3/2015
Shares of scheduled carriers Q1-3/2015 Q1-3/2015 Q1-3/2014 Share in % Share in % PAX ∆ in % Austrian Airlines Group 45.7 48.1 -3.7 Lufthansa 3.9 4.9 -18.5 Germanwings 3.6 2.8 +30.1 Swiss Intl. 1.6 1.6 -0.0 Total for LH Group 1) 56.4 58.9 -2.8 NIKI 11.2 11.6 -2.2 airberlin 6.4 6.2 +4.6 Total for HG/A
Slide 19: Traffic development of Vienna Airport in October 2015
Traffic development of Vienna Airport in October 2015 10/2015 10/2014 ∆ in % 1-10/2015 1-10/2014 ∆ in % Passengers (mill.) 2.03 2.04 -0.3 19.52 19.26 +1.4 Local passengers 1.44 1.41 +2.0 13.93 13.49 +3.2 (mill.) Transfer passengers 0.59 0.62 -5.3 5.51 5.71 -3.5 (mill.) Flight movements 20.01 20.65 -
Slide 20: What's new in 2015
What‘s new in 2015 ✈ Austrian Airlines: New to Colombo (Sri Lanka), Manchester, Marrakech, Mauritius, Miami, Menorca and Odessa ✈ NIKI: New to Alicante, Catania and Paphos ✈ Further increases in frequencies and new destinations ✈ New Eurowings base ✈ British Airways New to Barcelona, London Stansted
Slide 21: Traffic forecast for 2015
Traffic forecast for 2015 New destinations and increased frequencies in H2/2015 ✈ Positive outlook for the entire year Higher seating capacities – but seat load factor remains an uncertainty factor New long-haul routes as of the autumn of 2015 (Colombo, Mauritius, Miami) New Eurowings base sta
Slide 22: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 22