Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2020 Earnings Presentation
23 slides from Flughafen Wien's earnings presentation, Mar 4, 2021
Slide 1: Flughafen Wien Group Results 2020 and Forecast 2021
FLUGHAFEN WIEN GROUP Results 2020 and Forecast 2021 Online press conference, 4 March 2021
Slide 2: 2020: A year of Covid-induced losses - no layoffs so far thanks to short-time work
2020: A year of Covid-induced losses - no layoffs so far thanks to short-time work COVID-19 pandemic has led to the greatest crisis in the history of aviation – Vienna Airport also heavily affected: Minus 61.1% in revenue, net result for the period (before non controlling interests) at € -75.7 mil
Slide 3: Elevated travel demand gives hope for summer and fall
Elevated travel demand gives hope for summer and fall – 1/3 of all Austrians wants to travel abroad by plane Tourism and aviation account for 400,000 jobs in Austria1 – these industries are practically dormant since one year – not only in Austria, but in entire Europe! Travel demand exists: Ar
Slide 4: Significant profit and revenue drop due to COVID-19 pandemic
Significant profit and revenue drop due to COVID-19 pandemic in € million 2020 2019 Revenue 333.7 857.6 Earnings before interest, tax, depreciation 54.1 384.8 and amortization (EBITDA) Earnings before interest and taxes (EBIT) -86.5 252.3 Financial results -14.4 -14.4 Earnings before tax (EBT) -100.
Slide 5: Negative net result in 2020, aim to return to profitability in 2021
Negative net result in 2020, aim to return to profitability in 2021 200 150 100 176 152 in € million 112 113 127 50 92 79 81 4 38 0 1 2 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 -50 -76 -100 Dividend payment at the earliest possible for the financial year 2022 Profit for the period be
Slide 6: Expenses: Significant cost reduction achieved in all positions
Expenses: Significant cost reduction achieved in all positions Expenses for consumables and in € million 2020 2019 Δ in % services used were significantly Consumables and below previous year, energy services used -29.3 -41.3 -29.0 expenses fell by 29.7% Personnel expenses -202.9 -323.2 -37.2 Per
Slide 7: Higher net debt, balanced free cash flow and significant CAPEX reduction
Higher net debt, balanced free cash flow and significant CAPEX reduction 2020 2019 Net debt (€ million)1 201.9 81.4 Gearing (%)1 15.5 5.9 Cash flow from operating activities -23.0 373.0 (€ million) Free cash flow (€ million) -0.5 196.9 CAPEX (€ million)2 79.9 171.8 Equity (€ million)1 1,305.5 1,380.
Slide 8: Share price development since 01/2016: +42% outperforming competitors
Share price development since 01/2016: +42% outperforming competitors, market cap at about € 2.6 billion at the end of 02/2021 100 50 +42% Indexed +7% 0 -11% -50 -100 31.12.2015 31.12.2016 31.12.2017 31.12.2018 31.12.2019 31.12.2020 FWAG Fraport ZRH Share price development from 1 January 2016 to 26
Slide 9: Financial estimate for 2021
Financial estimate for 2021 Outlook 2021 Revenue around € 430 million EBITDA around € 150 million Consolidated net profit around € 4 million Net debt around € 100 million CAPEX around € 62 million 9
Slide 10: Vienna Airport resolutely continues its sustainability strategy
Vienna Airport resolutely continues its sustainability strategy Vienna Airport on its way to becoming a CO2-neutral „Green Airport“ The aviation sector will need years to catch up to the pre-crisis level – not before 2023/2024 from today‘s perspective But growth will be more environmentally comp
Slide 11: Segment results 2020 and traffic results
SEGMENT RESULTS 2020 AND TRAFFIC RESULTS 11
Slide 12: Airport: Passenger decline leads to lower EBITDA and EBIT
Airport: Passenger decline leads to lower EBITDA and EBIT Notable revenue decrease due to in € million 2020 2019 Δ in % decline in passengers and flight External revenue 133.0 411.7 -67.7 movements EBITDA 17.1 187.6 -90.9 Revenue from aircraft-related fees EBIT -70.2 104.0 n.a. declined by 71.4%
Slide 13: Handling & Security Services: Lower revenue due to lower volumes
Handling & Security Services: Lower revenue due to lower volumes Revenue from apron handling Δ in in € million 2020 2019 decreased by 56.3% to € 43.4 % million as a result of the pandemic- External revenue 86.1 166.3 -48.2 related decrease in movements and EBITDA -19.6 15.8 n.a. lower de-icing rev
Slide 14: Retail & Properties: Also lower revenue and results
Retail & Properties: Also lower revenue and results Lower revenue from centre in € million 2020 2019 Δ in management & hospitality, which % fell by 69.9% to € 25.5 million External revenue 70.4 162.6 -56.7 (2019: € 84.6 million) EBITDA 36.0 103.3 -65.2 EBIT 17.2 85.6 -79.9 Parking revenue also f
Slide 15: Malta: Lower revenue and results due to COVID-19
Malta: Lower revenue and results due to COVID-19 Airport-related revenue declined in € million 2020 2019 Δ in % by 74.8% to € 17.9 million year- on-year, which is also primarily External revenue 32.2 100.3 -67.9 due in this segment to the EBITDA 5.8 63.5 -90.8 decrease in traffic at Malta Airport
Slide 16: Results of strategic investments in 2020
Results of strategic investments in 2020 Malta Int. Airport Airport Košice About 1.7 million passengers About 0.1 million passengers (-76.1%) (-82.6%) Revenue: € 32.2 million Revenue: € 5.5 million EBITDA: € 5.9 million EBITDA: € -0,3 million EBITDA margin: 18.2% EBITDA margin: -5.8%
Slide 17: Tourism and aviation have hit rock bottom
Tourism and aviation have hit rock bottom Corona-Pandemic has almost completely disrupted international airline travel – Jan-Nov 2020: 69.8% passenger decline in Europe (ACI) Vienna Airport had 75.3% less passengers in 2020 (7.8 million travellers) – only 9.3 million passengers at all Austrian a
Slide 18: Several international projects target digital travel certificate
Several international projects target digital travel certificate IATA Travel Pass Concept includes integrated digital solution for electronic travel pass, vaccination/test certificate and information regarding travel regulations CommonPass (World Economic Forum) APP for digital vaccination/t
Slide 19: Crucial for recovery: Common regulations and standards!
Crucial for recovery: Common regulations and standards! Currently, every country has different regulations for test certificates, entry requirements, quarantine rules – digitalisation is an important lever to integrate bureaucratic procedures into an efficient travel process – current vaccination
Slide 20: Traffic forecasts for 2021
Traffic forecasts for 2021 Flughafen Wien Group: 2020 Forecast 2021 Passengers 9.7 million About 15.9 million Flughafen Wien AG: 2020 Forecast 2021 Passengers 7.8 million About 12.5 million H1/2021 will remain challenging – strong increase first expected as of H2/2021 Medium-term estimate of
Slide 21: Sustainability: Aviation gets down to business
Sustainability: Aviation gets down to business Decarbonisation driving aviation post-Corona Climate goals: Industry in line with mit Paris Agreement (1.5°C goal) and EU Green Deal („carbon neutrality“) Destination 2050: European Aviation will be CO2-free in 2050 („net zero CO2 emissions“) Un
Slide 22: Decarbonisation: Full steam ahead
Decarbonisation: Full steam ahead VIE: great improvement since 2012 -70.2 % CO2 emissions (kg/traffic unit (TU)) -38.4 % power consumption (kWh/TU) -36.3 % total energy required (kWh/TU) Next step: CO2-neutral operations before 2030 Vienna Airport: CO2 emissions in kg/traffic unit, 2012-20
Slide 23: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 23