Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2020 Earnings Presentation
23 slides from Flughafen Wien's earnings presentation, August 2020
Slide 1: Flughafen Wien AG Results H1/2020
FLUGHAFEN WIEN AG Results H1/2020
Slide 2: H1/2020: Covid-19 effects are strongly felt
H1/2020: Covid-19 effects are strongly felt – Results significantly below previous year H1/2020 – Passenger decline FWAG Group: -66.0%, Vienna: -65.3%, Malta: -68.7%, Košice: -76.8% Revenue decrease to € 195.8 million (-51.2%), EBITDA down by 73.3% to € 48.9 million, EBIT lower by 113.8% to € -1
Slide 3: Significant profit and revenue drop due to Covid-19 pandemic
Significant profit and revenue drop due to Covid-19 pandemic in € million H1/2020 H1/2019 Δ in % Revenue 195.8 401.4 -51.2 Earnings before interest, tax, depreciation 48.9 183.1 -73.3 and amortization (EBITDA) Earnings before interest and taxes (EBIT) -16.2 117.2 -113.8 Financial results -7.8 -6.1 -
Slide 4: Expenses: Significant cost reduction achieved in all positions
Expenses: Significant cost reduction achieved in all positions Expenses for consumables and in € million H1/2020 H1/2019 Δ in % services used were significantly Consumables and -14.0 -20.3 -30.9 below previous year, energy services used expenses fell by € 2.2 million Personnel expenses -109.4 -153
Slide 5: Net debt rises due to crisis, CAPEX has been greatly reduced
Net debt rises due to crisis, CAPEX has been greatly reduced H1/2020 H1/2019 Δ in % Net debt (€ million)1 149.0 81.4 83.0 Gearing (in %)1 11.0 5.9 n.a. Cash flow from operating activities -6.8 156.0 -104.4 (€ million) Free cash flow (€ million) -69.0 76.0 -190.7 CAPEX (€ million)2 39.2 63.5 -38.2 Eq
Slide 6: Share price development since 2012
Share price increase since 01/2012: +249% (end of H1/2020: +246%), market cap about € 2.1 billion (end of H1/2020: € 2.1 billion) 450 (+246%) 400 350 300 Indexed 250 +249% 200 150 100 50 +51% 0 +19% -50 FWAG ATX Benchmark (FRA, ADP, ZRH) Average Share price development from 1.1.2012 to 14.8.2020 6
Slide 7: Health has highest priority at VIE
Health has highest priority at VIE Strict requirements by the authorities: Health authorities are measuring the body temperature of all arriving passengers Arriving passengers from risk areas without a negative Covid-19 certificate are required to enter a 10-day quarantine period Worldwide t
Slide 8: Health has highest priority at VIE
Health has highest priority at VIE Vienna Airport has introduced comprehensive safety measures for passengers and employees: Requirement to wear safety masks in the terminal, protective devices at check-in, boarding and information counters, distance markings at queuing points, hand disinfectant
Slide 9: New Office Park 4 building at the Airport City starts its operations
New Office Park 4 building at the Airport City starts its operations Opening in August 2020: Construction of building finished, first tenants are moving in Over 40% already rented out: Active tenant interest – high demand for first-time usage spaces and co- working spaces A total of 26,000 m²
Slide 10: Reduction of investments, virtual AGM, proposal to suspend dividend payment
Reduction of investments, virtual AGM, proposal to suspend dividend payment Usage of state aid packages, the provision of sufficient credit lines and the successful implementation of saving measures guarantee the liquidity of the company, even if the crisis prevails significantly beyond the end of
Slide 11: Traffic Results H1/2020
TRAFFIC RESULTS H1/2020 11
Slide 12: Traffic development H1/2020 Flughafen Wien Group
Traffic development H1/2020 Flughafen Wien Group Group passenger development H1/2020 H1/2019 Δ in % Vienna Airport (millions) 5.1 14.7 -65.3 Malta Airport (millions) 1.0 3.3 -68.7 Kosice Airport (millions) 0.1 0.2 -76.8 Vienna Airport and its strategic 6.2 18.1 -66.0 investments (VIE, MLA, KSC) Traf
Slide 13: Shares of scheduled airlines
Shares of scheduled airlines H1/2020 Anteil in % Passagiere PAX Δ zu H1/2019 1. Austrian Airlines 37.3 1,897,854 -69.5 2. Lauda 12.6 641,660 -45.0 3. Wizz Air 10.0 506,764 -46.3 4. Eurowings 4.9 247,326 -76.9 5. easyJet1 3.7 188,472 -69.8 6. Lufthansa 3.3 169,572 -58.4 7. Turkish Airlines 2.1 104,37
Slide 14: Traffic development Vienna Airport July 2020
Traffic development Vienna Airport July 2020 07/2020 07/2019 Δ in % Passengers (millions) 0.6 3.2 -81.8 Local passengers (millions) 0.5 2.4 -79.4 Transfer passengers (millions) 0.1 0.8 -88.7 Flight movements (in 1,000) 7.6 25.2 -69.9 MTOW (millions of tonnes) 301.7 1,025.0 -70.6 Seat load factor (pe
Slide 15: Traffic development Vienna Airport 1-14 August 2020
Traffic development Vienna Airport 1-14 August 2020 08/2020 08/2019 Δ in % Passengers (millions) 0.4 1.4 -74.9 Local passengers (millions) 0.3 1.0 -72.0 Transfer passengers (millions) 0.1 0.4 -83.2 Flight movements (in 1,000) 4.8 11.1 -57.3 MTOW (millions of tonnes) 178.6 454.2 -60.7 Development i
Slide 16: Vienna Airport's role as a lifeline for Austria
Covid-19 crisis: Vienna Airport’s role as a „lifeline“ for Austria Vienna Airport has been continuously operating since the beginning of the Covid-19 crisis and was always available for flight traffic During the lockdown phase, daily cargo flights of Austrian Airlines and other airlines were ope
Slide 17: Modernisation of Terminal 2 is continued, all other projects on hold
For the time after the crisis: Modernisation of Terminal 2 is continued, all other projects on hold Passenger handling is currently performed centrally in Terminal 3. Depending on passenger volume, other terminal areas can be swiftly reactivated. The projects „Southern Extension“ and „Modernisatio
Slide 18: Segment Results H1/2020
——\ = A Vienna International Airport
Slide 19: 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 H1/2020 H1/2019 Δ in % decline in passengers and flight movements External revenue 83.4 191.0 -56.3 EBITDA 25.3 90.9 -72.2 Revenue from aircraft-related fees EBIT -14.7 49.2 -129.9 declined by
Slide 20: 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 H1/2020 H1/2019 decreased by 43.8% to € 26.8 % million as a result of the pandemic- External revenue 48.2 79.4 -39.3 related decrease in movements and EBITDA -9.4 4.6 n.a. lower de-icing
Slide 21: Retail & Properties: Also lower revenue and results
Retail & Properties: Also lower revenue and results Lower revenue from centre in € million H1/2020 H1/2019 Δ in management & hospitality, which fell % by 56.6% to € 16,9 million (H1/2019: External revenue 42.2 78.1 -45.9 € 39.0 million) EBITDA 20.1 51.9 -61.3 EBIT 11.5 43.0 -73.3 Parking revenue
Slide 22: Malta: Lower revenue and results due to Covid-19
Malta: Lower revenue and results due to Covid-19 Airport-related revenue declined by in € million H1/2020 H1/2019 Δ in 73.1% year on-year to € 8.4 million, % which is also primarily due in this External revenue 14.9 44.6 -66.5 segment to the decrease in traffic at EBITDA 2.6 27.3 -90.5 Malta Airpo
Slide 23: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 23