Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2019 Earnings Presentation
25 slides from Flughafen Wien's earnings presentation, August 2019
Slide 1: Flughafen Wien AG H1/2019 Results
FLUGHAFEN WIEN AG H1/2019 Results
Slide 2: H1/2019: Positive traffic development - Earnings above the previous year
H1/2019: Positive traffic development - Earnings above the previous year ✈ H1/2019 – Passenger growth FWAG Group: +19.9%, Vienna Airport + 23.9%; Passenger increase in Malta (+5.9%) and Košice (+2.5%) ✈ Revenue up to € 401.4 million (+7.5%), EBITDA improved by 9.3% to € 183.1 million, EBIT even rose
Slide 3: Positive development of EBITDA margin documents significant productivity rise
Positive development of EBITDA margin documents significant productivity rise 50% 45% 40% 35% 30% 25% 44.5% 44.9% 45.6% 43.4% 43.3% 43.8% 41.7% 20% 37.7% 40.0% 15% 30.7% 10% 5% 0% 2011 2012 2013 2014 2015 2016 2017 2018 H1/2018 H1/2019 Adjustment of figures for 2011-2016 as a result of the FMA decis
Slide 4: Good business results thanks to revenue development and cost control
Good business results thanks to revenue development and cost control in € million H1/2019 H1/2018 Δ in % Revenue 401.4 373.5 +7.5 Earnings before interest, tax, depreciation and amortization (EBITDA) 183.1 167.6 +9.3 Earnings before interest and taxes (EBIT) 117.2 104.5 +12.1 Financial results -6.1
Slide 5: Expenses: Ongoing strict cost discipline
Expenses: Ongoing strict cost discipline ✈ Expenses for consumables and Δ in services used at the prior-year level; in € million H1/2019 H1/2018 % energy costs lower than in the Consumables and previous year despite growth -20.3 -20.0 +1.6 services used as a result of energy saving measures Personne
Slide 6: Further reduction of net debt to € 190.8 million
Further reduction of net debt to € 190.8 million H1/2019 H1/2018 Δ in % Net debt (€ million)1 190.8 198.2 -3.8 Gearing (%)1 14.7 15.3 n.a. Cash flow from operating activities 156.0 128.9 +21.0 (€ million) Free cash flow (€ million) 76.0 72.1 +5.4 CAPEX (€ million)2 63.5 91.9 -30.9 Equity (€ million)
Slide 7: Net debt and gearing: Ongoing positive development
Net debt and gearing: Ongoing positive development ✈ Equity unchanged June 30, Jan. 1, Δ in % 2019 2019 ✈ Slight drop in non-current assets: increases Net debt1 mainly due to application of IFRS 16 as at (in € million) 190.8 198.2 -3.8 Jan. 1, 2019 mainly as a result of Gearing1 (in %) 14.7 15.3 n.a
Slide 8: Free cash flow underlines financial strength
Free cash flow underlines financial strength Δ in ✈ Free cash flow above the prior-year level, in € million H1/2019 H1/2018 % primarily due to improved cash flow from operating activities despite higher cash out flow Cash flow from 156.0 128.9 +21.0 from investing activities operating activities Cas
Slide 9: Share price development from Jan. 1, 2012 to Aug 16, 2019
Indexed 9 -50 100 150 200 250 300 350 400 450 0 50 Jan 2012 Apr 2012 Jul 2012 Oct 2012 Jan 2013 FWAG Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 ATX Jul 2014 Oct 2014 Share price development from Jan. 1, 2012 to Aug 16, 2019 Jan 2015 Apr 2015 Jul 2015 Oct 2015 Jan 2016 Apr 2016 Jul 2016 Oct 2016 Ja
Slide 10: Airport City emerges as an “innovation hub“
Airport City emerges as an “innovation hub“ ✈ Vienna Airport enters into partnership with startup incubator Target: Airport City should become a centre for innovative startups in the eastern region of Austria Excellent geographical location and easy accessibility via air, railway and road connec
Slide 11: Positive outlook for 2019: Significant rise in earnings and investments planned
Positive outlook for 2019: Significant rise in earnings and investments planned Outlook 2019 Revenue > € 830 million EBITDA > € 375 million Group net profit1 > € 170 million Net debt < € 150 million CAPEX ~ € 220 million 1) Before non-controlling interests 11
Slide 12: Segment Results H1/2019
12 => ANI Vienna International Airport
Slide 13: Airport: Higher EBITDA and EBIT due to passenger record
Airport: Higher EBITDA and EBIT due to passenger record ✈ Surge in growth at Vienna Airport in € million H1/2019 H1/2018 Δ in % continues: 14.7 million passengers External revenue 191.0 177.1 +7.8 (+23.9%) in H1/2019 EBITDA 90.9 86.2 +5.5 ✈ Further growth in flight movements EBIT 49.2 46.0 +7.0 (+15
Slide 14: Handling & Security Services: Stable revenue
Handling & Security Services: Stable revenue ✈ Contractual adjustments for the in € million H1/2019 H1/2018 Δ in % Lufthansa Group and lower de-icing revenue could be offset by flight traffic External revenue 79.4 79.3 +0.1 handling and new customers EBITDA 4.6 7.0 -34.4 ✈ Positive impact on passeng
Slide 15: Retail & Properties: Strong growth in all areas
Retail & Properties: Strong growth in all areas ✈ New business area bundles competencies in the “Center Management & Hospitality“ including in € million H1/2019 H1/2018 Δ in % Shopping & Food and Beverage (F&B) and is complemented by results from Advertising, VIP & External revenue 78.1 68.2 +14.6 L
Slide 16: Malta: Earnings rise related to passenger growth
Malta: Earnings rise related to passenger growth ✈ Ongoing growth: 3.3 million in € million H1/2019 H1/2018 Δ in % passengers, 5.9% passenger growth in H1/2019 External revenue 44.6 40.9 +9.1 ✈ Substantial revenue growth: Airport as EBITDA 27.3 23.4 +16.4 well as Retail & Properties revenue EBIT 21.
Slide 17: Results of strategic investments
Results of strategic investments Malta Int. Airport Košice Airport H1/2019 H1/2019 ✈ About 3.3 million PAX (+5.9%) ✈ About 0.2 million PAX (+2.5%) 2018 2018 ✈ About 6.8 million PAX (+13.2%) ✈ About 0.5 million PAX (+9.1%) ✈ Revenue: € 92.2 million ✈ Revenue: € 13.3 million ✈ EBITDA: € 54.4 million ✈
Slide 18: Focus on punctuality
Focus on punctuality Punctuality and reliability are top priorities All system partners are called upon: Airlines, Air Traffic Control, airports, service providers, authorities ✈ Jan-June 2019: 76% of departures on time at VIE ✈ Joint project with Austrian Airlines: ✈ Jan-June 2019: VIE the most pun
Slide 19: Traffic Results H1/2019
TRAFFIC RESULTS = H1/2019 19 = ANI Vienna International Airport
Slide 20: Traffic development H1/2019 Flughafen Wien Group
Traffic development H1/2019 Flughafen Wien Group Group passenger development H1/2019 H1/2018 Δ in % Vienna Airport (millions) 14.7 11.8 +23.9 Malta Airport (millions) 3.3 3.1 +5.9 Kosice Airport (millions) 0.2 0.2 +2.5 Vienna Airport and its strategic 18.1 15.1 +19.9 investments (VIE, MLA, KSC) Traf
Slide 21: Shares of scheduled airlines
Shares of scheduled airlines H1/2019 Share in % Passengers PAX Δ% vs. H1/2018 1. Austrian Airlines 42.4 6,218,573 +7.2 2. Laudamotion 8.0 1,167,559 n.a. 3. Eurowings 7.3 1,071,286 -9.5 4. Wizz Air 6.4 943,666 n.a. 5. easyJet Group1 4.3 624,511 +5.2 6. Lufthansa 2.8 407,518 -9.7 7. Level 2.2 320,863
Slide 22: Traffic development at Vienna Airport July 2019
Traffic development at Vienna Airport July 2019 New all-time high on July 14th: PAX of 113,069 July/2019 July/2018 Δ in % Passengers (millions) 3.16 2.73 +15.8 Local passengers (millions) 2.36 1.98 +19.0 Transfer passengers (millions) 0.79 0.74 +6.7 Flight movements (in 1,000) 25.17 22.41 +12.3 MTOW
Slide 23: Highlights 2019
Highlights 2019 17 new destinations 5 new airlines LCC highlights in summer flight schedule 2019 (incl. charter) thereof 3 new long-haul routes: • Air Arabia • Eurowings: 32 destinations • Tokyo-Haneda, • Air Canada • Laudamotion: 31 destinations • Ürümqi/Guangzhou • ANA • Wizz Air: 31 destinations
Slide 24: Traffic forecast for 2019
Traffic forecast for 2019 Flughafen Wien Group: 2018 Forecast 2019 >10% Passengers 34.4 million (to about 38 million) Flughafen Wien AG: 2018 Forecast 2019 >10% Passengers 27.0 million (to over 31 million) ✈ Passenger growth in 2018 continues unabated in 2019 ✈ VIE: Share of low cost carriers up
Slide 25: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 25