Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Shareholder Meeting (August 2021)
32 slides from Flughafen Wien's shareholder meeting presentation, Aug 24, 2021
Slide 1: 33rd Annual General Meeting
FLUGHAFEN WIEN GROUP 33rd Annual General Meeting 24 August 2021
Slide 2: 2020: A year of Covid-induced losses - no layoffs so far
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: H1/2021: After very difficult first half year, rise in passengers in July
H1/2021: After very difficult first half year, significant rise in passenger figures in July 2021 COVID-19 pandemic takes its toll on the first half year of 2021: H1/2021 with -34.3% in revenue, net profit before non-controlling interests at € -32.5 million, cargo with about -4% in July 2021 almos
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 Δ in % Revenue 333.7 857.6 -61.1 Earnings before interest, tax, depreciation and 54.1 384.8 -85.9 amortization (EBITDA) Earnings before interest and taxes (EBIT) -86.5 252.3 -134,3 Financial results -14.4 -14.4 +0.0
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 50 112 113 127 79 81 92 4 38 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20211 -50 -76 -100 Profit for the period before non-controlling interests; Values adjusted for 2011-2015 5 1) Guidance
Slide 6: Higher net debt, balanced free cash flow and significant CAPEX reduction
Higher net debt, balanced free cash flow and significant CAPEX reduction 2020 2019 Δ in % Net debt (€ million)1 201.9 81.4 +148.0 Gearing (%)1 15.5 5.9 +9.6%p Cash flow from operating activities (€ million) -23.0 373.0 -106.2 Free cash flow (€ million) -0.5 196.9 -100.2 CAPEX (€ million)2 79.9 171.8
Slide 7: Share price development since 01/2016: +26%
Share price development since 01/2016: +26% outperforming competitors, market cap at about € 2.5 billion at the end of H1/2021 100 50 +26% Indexed 0 +0% -9% -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 1.1.2016 to 20.08.2021
Slide 8: COVID-19 vaccination is key to overcome the crisis
COVID-19 vaccination is key to overcome the crisis – Vienna Airports takes measures Over 100 companies at the Vienna site are using the corporate COVID-19 vaccination program of Flughafen Wien AG More than 80% of employees are vaccinated Vaccination without pre-registration is possible in the
Slide 9: Leaving the crisis behind via innovation: events, offices and startups
Leaving the crisis behind via innovation: COVID-safe events, office spaces and startups at the AirportCity Office Park 4 already in operation – COVID-safe conference or event offering with large test infrastructure on location 40-50% occupancy rate despite crisis Austria´s most sustainable off
Slide 10: Vienna Airport on its way to becoming a CO2-neutral Green Airport
Vienna Airport on its way to becoming a CO2-neutral „Green Airport“ Photovoltaic push is continued Vienna Airport builds Austria´s biggest photovoltaic site with a size of 24 hectares and 24 MW peak performance Start of construction in 2021 – entry into operation in 2022. 30% of the annual power
Slide 11: Forecast 2021: Adjusted revenue, net profit guidance is confirmed
Forecast 2021: Adjusted revenue, net profit guidance is confirmed Forecast 2021 Results 2020 Revenue around € 380 million € 333.7 million EBITDA around € 150 million € 54.1 million Consolidated net profit around € 4 million € -75.7 million Net debt around € 100 million € 201.9 million CAPEX
Slide 12: Traffic Results Review of 2020
TRAFFIC RESULTS REVIEW OF 2020 12
Slide 13: Development in 2020 Traffic figures and influencing factors
Development in 2020 Traffic figures and influencing factors 3 500 000 PAX 2019 14.4% PAX 2020 3 000 000 8.3% 2019 Difference Abweichung 2019/2020 2019/2020 2 500 000 2 000 000 1 500 000 1 000 000 -65,8% -74.7% -81.8% -81.1% 500 000 -86.7% -92.4% -90.8% -99.5% -99.3% -95.4% 2020 0 January February Ma
Slide 14: Traffic Development 2020: Flughafen Wien Group
Traffic Development 2020: Flughafen Wien Group Group passenger development 2020 2019 Δ in % Vienna Airport (millions) 7.8 31.7 -75.3 Malta Airport (millions) 1.7 7.3 -76.1 Kosice Airport (millions) 0.1 0.6 -82.6 Vienna Airport and its strategic investments 9.7 39.5 -75.6 (VIE, MLA, KSC) Share of pas
Slide 15: Traffic development 2020 Flughafen Wien AG
Traffic development 2020 Flughafen Wien AG Traffic development at Vienna 2020 2019 Δ in % Airport Passengers (millions) 7.8 31.7 -75.3 Local passengers (millions) 6.3 24.3 -74.1 Transfer passengers (millions) 1.5 7.2 -79.2 Flight movements (in 1,000) 95.9 266.8 -64.1 MTOW (millions of tons) 4.0 10.9
Slide 16: Segment Results 2020
SEGMENT RESULTS 2020 ANDERES BILD 16
Slide 17: Airport: Passenger decline leads to lower EBITDA and EBIT
Airport: Passenger decline leads to lower EBITDA and EBIT Notable revenue decrease due to decline in € million 2020 2019 Δ in % in passengers and flight movements External revenue 133.0 411.7 -67.7 EBITDA 17.1 187.6 -90.9 Revenue from aircraft-related fees declined by 71.4% to € 22.3 million EBI
Slide 18: Handling & Security Services: Lower revenue due to lower volumes
Handling & Security Services: Lower revenue due to lower volumes Revenue from apron handling decreased by Δ in 56.3% to € 43.4 million as a result of the in € million 2020 2019 % pandemic-related decrease in movements and lower de-icing revenue External revenue 86.1 166.3 -48.2 EBITDA -19.6 15.8 n
Slide 19: 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 (2019: € External revenue 70.4 162.6 -56.7 84.6 million) EBITDA 36.0 103.3 -65.2 EBIT 17.2 85.6 -79.9 Parking revenue also f
Slide 20: Malta: Lower revenue and results due to COVID-19
Malta: Lower revenue and results due to COVID-19 Airport-related revenue declined by 74.8% to Δ in € 17.9 million year-on-year, which is also in € million 2020 2019 % primarily due in this segment to the decrease External revenue 32.2 100.3 -67.9 in traffic at Malta Airport due to travel restricti
Slide 21: Results Košice 2020
Results Košice 2020 Key data Airport Košice About 0.1 million passengers (-82.6%) Revenue: € 5.5 million EBITDA: € -0,3 million EBITDA margin: -5.8% Net result for the period: € -0.9 million 21
Slide 22: Current Traffic Results and Developments
CURRENT TRAFFIC RESULTS AND DEVELOPMENTS 22
Slide 23: Traffic development H1/2021 Flughafen Wien Group
Traffic development H1/2021 Flughafen Wien Group Group passenger development H1/2021 H1/2020 Δ in % Vienna Airport (millions) 2.0 5.1 -61.4 Malta Airport (millions) 0.4 1.0 -60.3 Kosice Airport (millions) 0.0 0.0 -54.0 Vienna Airport and its strategic 2.4 6.2 -61.1 investments (VIE, MLA, KSC) Traffi
Slide 24: Traffic development Vienna Airport July 2021
Traffic development Vienna Airport July 2021 07/2021 07/2020 07/2019 Passengers (millions) 1.5 0.6 3.2 Local passengers (millions) 1.1 0.5 2.4 Transfer passengers (millions) 0.4 0.1 0.8 Flight movements (in 1,000) 13.6 7.6 25.2 MTOW (in 1,000 tonnes) 553.7 301.7 1,025.0 Seat load factor (percent) 69
Slide 25: Cargo development Vienna Airport 1-7/2021
Cargo development Vienna Airport 1-7/2021 Month(s) 2021 2020 2019 Δ 2020 Δ 2019 January-June1 125,398 107,830 135,838 16.3 -7.7 July 22,444 15,847 23,348 41.6 -3.9 January-July 147,842 123,677 159,186 19.5 -7.1 Significant increase of import volumes: +10%2 vs 2019 and +31% vs 2020 Hub function t
Slide 26: Aviation is returning slowly but surely
Aviation is returning slowly but surely With increasing vaccination rates worldwide passenger travel is slowly increasing again, the 3G rule is important for the summer travel season Air Canada, Etihad Airways and EVA Air are commencing longhaul connections to Vienna, short- and medium-haul rout
Slide 27: VIE: Better development than ADV airports and other Lufthansa hubs
VIE: Better development than ADV airports and other Lufthansa hubs After a similar development of all airports in the first half of 2021, Vienna Airport could detach itself since July in its passenger number development from the ADV airports and achieved 35-50% of pre-crisis levels on a weekly bas
Slide 28: Operations during the COVID-19 pandemic
Operations during the COVID-19 pandemic Terminal 1 (since 06/2021), Terminal 3, Pier Nord (F-/G-Gates) in operation Pier West (C-Gates) and Pier East (D-Gates) closed down Check-In: significantly longer processing times Health checks upon arrival according to the requirements of the authorit
Slide 29: New food & beverage offerings for travellers
New food & beverage offerings for travellers: Hollywood at the airport and more local cuisine for passengers Despite the crisis Vienna Airport is expanding its food & beverage offerings with new tenants: Dean & David in the arrival hall Manner-Shop in Terminal 3 Highlight: „Wolfgang Puck Kit
Slide 30: Amendment to the airport charges regulations relating to COVID-19
Amendment to the airport charges regulations relating to COVID-19 Abandoning the previous formula, the airport charges will temporarily be increased by inflation at Vienna Airport and by inflation and the factor 0.5 at the airports of Graz, Innsbruck, Klagenfurt, Linz and Salzburg This ruling wi
Slide 31: Traffic forecast for 2021
Traffic forecast for 2021 Flughafen Wien Group: 2020 Forecast 2021 Passengers 9.7 million about 12-13 million Flughafen Wien AG: 2020 Forecast 2021 Passengers 7.8 million About 10 million 31
Slide 32: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 32