Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2010 Earnings Presentation
31 slides from Flughafen Wien's earnings presentation, August 2010
Slide 1: Flughafen Wien AG Results 1-6/2010
Flughafen Wien AG Results 1 6/2010 1-6/2010 August 2010 -1-
Slide 2: 1-6/2010 – At a glance
1-6/2010 – At a glance z Total revenue: EUR 253.2 mill. (+3.5%) z EBITDA: EUR 85.7 mill. ( (+6.9%) ) z EBIT: EUR 52.6 mill. (+12.7%) z Net profit : EUR 38 38.1 1 mill mill. (+11 6%) (+11.6%) after non-controlling interests z Passengers: g 8.9 mill. ((+5.5%) %) (European average of +2.4%*) * Source:
Slide 3: Financial Results 1-6/2010
Financial Results 1-6/2010 1-6/2010 1-6/2009 Change EUR mill. in % R Revenues 253 2 253.2 244 6 244.6 + 35 3.5 Other income 7.5 6.4 + 17.8 Operating income 260.7 251.0 + 3.9 Operating expenses (excl. (excl depreciation) - 175.0 175 0 - 170.8 170 8 + 24 2.4 EBITDA 85.7 80.1 + 6.9 Depreciation - 33.1
Slide 4: Financial Results 1-6/2010: Revenue by Segment
Financial Results 1-6/2010 Revenue by Segment Retail & Properties Handling 30.3% EUR 44.7 mill. EUR 76.6 mill. 17.6% +2.3% - 11.2% 2.7 % Other Segments Revenue structure without Handling EUR 6.7 mill. 49.3% - 14.5% 70.8% 25.3% Airport 3.8% EUR 124.8 124 8 mill. mill +17.2% -4-
Slide 5: Summary of Operating Expenses
Financial Results 1-6/2010 Summary of Operating Expenses in EUR mill. 1-6/2010 1-6/2009 Change i % in Consumables and services used 20.3 18.9 + 7.7 Personnel expenses 112.4 107.6 + 4.4 Depreciation 33.1 33.4 - 1.1 Other operating p g expenses p 42.3 44.4 - 4.7 Total operating expenses 208.1 204.3 +
Slide 6: Financial Indicators
Financial Results 1-6/2010 Financial Indicators in % 1-6/2010 1-6/2009 EBITDA Margin 33.8 32.8 EBIT Margin 20 8 20.8 19 1 19.1 ROE 4.8 4.5 ROCE 2.7 2.6 Gearing 84.1 80.1 -6-
Slide 7: Segment Reporting
Financial Results 1-6/2010 Segment Reporting in EUR mill. 1-6/2010 1-6/2009 Airport External segment revenue 124.8 106.5 Segment EBIT 36.2 35.8 Handling External segment revenue 76.6 86.3 Segment EBIT 71 7.1 59 5.9 Retail & Properties External segment revenue 44.7 43.7 Segment EBIT 22.5 20.8 Other S
Slide 8: Capex programme 2010 - 2014
Capex programme 2010 - 2014 including replacement and maintenance investments – excluding third runway, purchase of land, and capitalised interest during the construction period in EUR mill. Terminals 390 Apron, runways y 30 Design of core zone 43 Security 38 Parking 17 Other projects 31 Technical n
Slide 9: Capex programme 2010 - 2014
Capex programme 2010 - 2014 i EUR mill. in ill Investments 2010 - 2014: EUR 721 mill. including replacement and maintenance investments – excluding third runway, purchase off land, l d andd capitalised it li d iinterest t t during the construction period -9-
Slide 10: Traffic Results 1-6/2010 at a glance
Traffic Results 1-6/2010 at a glance z Passenger traffic 1-6/2010 +5.5% ((European p average g +2.4%*)) z Strong development in traffic to Middle East +11.5% z Passengers - Eastern Europe +8.0% z Passengers – Low Low-cost cost carriers -4 4.0% 0% z Share of total passengers - Low-cost carriers 21.8%
Slide 11: Passenger development at European airports
Passenger development at european airports in % 11.3 12 **source: ACI Airports Council Internatio 10 7.3 8 6.3 6.5 5.2 from 4.9 5.3 5.5 6 m 06/2010 – 34 4 2.4* 2 3 biggest airports in Europe 0 -2 -0.7 VIE onal – Europe -4 4 -6 European average (selected airports) -5.9 -8 8 e -10 -8.3 2005 2006 2007
Slide 12: Traffic Results 1-6/2010
Traffic Results 1-6/2010 Passengers: 8,899,368 (+5.5%) Transfer passengers: 2,677,072 (+6.3%) Flight movements: 119,167 (-0.2%) MTOW (in tonnes): 3,744,236 (+7.2%) Cargo incl. trucking in tonnes 148,353 (+30.4%) ( 30.4%) - 12 -
Slide 13: Traffic Results 1-6/2010: Passengers by region
Traffic Results 1-6/2010 Passengers Europe total Scheduled and Charter Traffic +5.2% Western Europe 86.6% Eastern Europe North America +4.5% +8.0% +5 2% +5.2% 69.0% 17.6% 2.9% Middle East Far East +15 4% +15.4% +2 6% +2.6% 5.5% 3.8% Others +3.5% 2.5% Change vs. 1-6/2009 Share of total passengers - 1
Slide 14: Flight Plan Summer 2010
Flight Plan Summer 2010 New airlines: New destinations by airlines: • BMI • Kuwait ((Watanya) y ) • Alitalia • Novosibirsk via Moskau DME (S7) • Wataniya • Gagliari (Niki) • S7 • Barcelona (Niki) • EVA Air Cargo • Kopenhagen (Niki) • Nizza (Niki) • Olbia (Niki) • Hannover (Germanwings) • Larnaca (Bl
Slide 15: Flight Plan Summer 2010
Flight Plan Summer 2010 Additional frequences: AUA Niki Brussels Airlines • Nizza •Paris • Brüssel • Bukarest Turkish Airlines B&H Airlines • Sofia • Istanbul • Sarajevo • Stuttgart Air Baltic • Berlin • Riga • Graz Sunexpress • Tokio • Antalya • Larnaca • Izmir • Istanbul - 15 -
Slide 16: Traffic Results January to July 2010
Traffic Results January to July 2010 1-6/2010 July 2010 1-7/2010 Forecast P Passengers 8 899 368 8,899,368 2 032 579 2,032,579 10 931 947 10,931,947 Change in % +5.5 +11.3 +6.6 +6% MTOW (t) 3 744 236 3,744,236 743 671 743,671 4 487 907 4,487,907 Change in % +7.2 +10.7 +7.7 +7% Flight mo movements em
Slide 17: Long-Term Forecast 2010 - 2020
Long-Term Forecast 2010 - 2020 Passengers Forecast 2010-2020 30,6 Forecast in mill. Ø 2010-2020 5,2% *(CAGR P Passengers VIE 1970 1970-2008)/2 2008)/2 26 0 lower 26,0 l ttrendline* dli * extrapolated to 2020 24,6 Ø 2010-2020 3,6% 19,7 , 18,1 11,2 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '
Slide 18: Key advantages support the hub function
Vienna International Airport Key advantages support the hub function Key advantages 1. Location 2. Quality 3. Capacity 4. Development of non-aviation business 5 Tariffs and incentives 5. - 18 -
Slide 19: 1.1 Catchment area
1.1 Catchment area Approx. 14.3 million people live in the catchment area reache The hu Catchm ed in the shortest time ub airporrt that can ment areea: n be - 19 -
Slide 20: 1.2 Geographical location
1.2 Geographical location Time saved with flights to/from Vienna vs. Munich Airport from Austtrian and Lufthansa Source: Online O fligh L ht plan info ormation - 20 -
Slide 21: 1.3 Markets
1.3 Markets Destinations Austrian: 36 Destinations Lufthansa Lufthansa*:: 35 thereof Austrian only: 13 Lufthansa* only: 12 Lufthansa and Austrian: 23 * ex FRA, MUC LH & OS LH OS LH Fokus OS Fokus Source: OAG, week 46 / as of March 2010 - 21 -
Slide 22: 1.4 Positioning of the airport in Eastern Europe
1.4 Positioning of the airport in Eastern Europe High frequencies, maximum destinations Source. OAG G, November 200 09, inkl.. Ekaterinb burg Highest number of East European destinations in comparison - 22 -
Slide 23: 2.1 VIE's top quality standards
2.1 VIE‘s top quality standards ¾ 25-minute minimum connecting time: Airport MCT Airport MCT Source: OAG Munich 30 - 35 min Amsterdam 50 min G Flight Guide Zurich 40 min Brussels 50 min Copenhagen 45 min London 45 - 75 min Frankfurt 45 min Paris 60 - 90 min ¾ Short routes & comfortable transfers for
Slide 24: 3.1. Capacity
3.1. Capacity Skylink ¾ Gross floor space : ¾ Terminal: 76 000 m2 , Pier: 71 76,000 000 m2 71,000 ¾ Dimensions: ¾ Length of Pier: 450 m, Length of Terminal: 270 m ¾Infrastructure: ¾ Check-in-counters: 64 ¾ Baggage carousels: 10 ¾ Pier positions : 17 ¾ Shopping areas: 5.900 m2 ¾ Gastronomy G 3 700 m2
Slide 25: 3.2 Third runway
3.2 Third runway Name: 11R/29L Length: 3 680 meter 3,680 Width 60 meter Taxiways: ~ 27.5 km Category: CAT III 2 400m 2.400m Status: ¾ March 2007: initial fiiling for the enviromental impact assessment proceedings ¾ 14 citizens´initiatives were recognised as parties to these proceedings ¾ February 20
Slide 26: 4.1 Development of non-aviation business
4.1 Development of non-aviation business Terminal expansion Skylink: ¾ Substantial increase in gastronomy and shopping areas Decrease in Additional Available Additional Total space space space in T2 Total space space space with opening with opening and Pier 2009 Skylink Skylink Skylink West Shops /
Slide 27: 4.2 Development of non-aviation business
4.2 Development of non-aviation business Parking space at Vienna International Airport ¾ Parking spaces indoor: 10 10,763 763 ¾ Parking spaces outdoor: 12,752 - 27 -
Slide 28: 4.3 Development of non-aviation business
4.3 Development of non-aviation business Real Estate Enough free space to develop further real estate projects (e.g. office parks, multi storey carparks….) - 28 -
Slide 29: 5.1 Competitive tariffs and attractive incentives
5.1 Competitive tariffs and attractive incentives B Better than h the h European E average** * All airlines, all fees, excluding security, including incentives Source: VIE; April 2010 - 29 -
Slide 30: 5.2 Competitive tariffs and attractive incentives
5.2 Competitive tariffs and attractive incentives Change in tariff regulation as of 1.1.2010 ¾ Increase of tariffs by a net total of 0.5%. These adjustments includes: ¾ 13.0% decrease in landing tariff ¾ 7.3% (€ 1.03) increase in passenger tariff to € 15.62 per departing passenger ¾ accounting ti fo
Slide 31: Flughafen Wien AG Results 1-6/2010
Flughafen Wien AG Results 1 6/2010 1-6/2010 August 2010 - 31 -