Flughafen Wien Ag · VIE:FLU
Flughafen Wien — H1 2017 Earnings Presentation
24 slides from Flughafen Wien's earnings presentation, 2017
Slide 1: Flughafen Wien AG H1/2017 Business Results
FLUGHAFEN WIEN AG H1/2017 Business Results
Slide 2: Update: airberlin & NIKI
Update: airberlin & NIKI airberlin filed for bankruptcy on August 15, 2017. According to the latest report, NIKI is expected to continue its flight operations. The airberlin market share at Vienna Airport fell from 6.2% in H1/2016 to 5.0% in H1/2017; NIKI‘s share even dropped from 9.2% to 2.6% in th
Slide 3: H1/2017: Ongoing positive passenger development – Guidance update
H1/2017: Ongoing positive passenger development – Guidance update H1 passenger growth of 6.9% in Vienna (+9.2% for the Flughafen Wien Group) despite airberlin; strong passenger increase in Malta (+20.3%) and also in Kosice (+11.0%) Revenue increase to € 357.5 million (+3.4%), EBITDA rise of 3.9% to
Slide 4: Positive operating results due to strong passenger development
Positive operating results due to strong passenger development in € million H1/2017 H1/2016 ∆ in % Revenue 357.5 345.6 +3.4 Earnings before interest, tax, depreciation and 157.9 152.0 +3.9 amortisation (EBITDA) Earnings before interest and taxes (EBIT) 89.6 87.5 +2.4 Financial results -8.4 -9.9 +15.
Slide 5: Expenses: slight rise in costs
Expenses: slight rise in costs ✈ Expenses for consumables and services ∆ in used up by € 1.4 million due to in € million H1/2017 H1/2016 % higher consumption of de-icing metrial Consumables and and fuel services used -18.6 -17.2 +8.4 Personnel expenses -137.3 -134.3 +2.2 ✈ Personnel expenses rise by
Slide 6: Further reduction of net debt: € 31.8 million below end of 2016
Further reduction of net debt: € 31.8 million below end of 2016 H1/2017 H1/2016 ∆ in % Net debt (€ million)1 323.7 355.5 -8.9 Gearing (%)1 28.2 31.1 n.a. Cash flow from operating activities 136.1 134.7 +1.0 (€ million) Free cash flow (€ million) 78.7 175.8 -55.2 CAPEX (€ million)2 61.3 50.5 +21.4 Eq
Slide 7: Ongoing positive development of net debt and gearing
Ongoing positive develpment of net debt and gearing ✈ Net debt reduced by € 31.8 million to 30.6.2017 31.12.2016 ∆ in % € 323.7 million Net debt 323.7 355.5 -8.9 ✈ Stable non-current assets: depreciation (€ million) and amortisation offset by investments Gearing (%) 28.2 31.1 n.a. ✈ Slight increase
Slide 8: Improved operating cash flow
Improved operating cash flow ✈ Free cash flow considerably below the in € million H1/2017 H1/2016 ∆ in % prior-year level due to development of the cash flow from investing activities Cash flow from operating 136.1 134.7 +1.0 (H1/2016: advance payment by Austrian activities Airlines – Hermione) Cash
Slide 9: Share price development since January 2012
Share price development since January 2012: +341%, market capitalisation about € 2.7 bn. 500 450 +341% 400 Indexed to 100 350 300 +187% 250 200 +68% 150 100 50 FWAG ATX Benchmark (FRA, ADP, ZRH) average 9 Share price development from January 1, 2012 to August 18, 2017
Slide 10: Vienna Airport site continues on its growth path
Vienna Airport site continues on its growth path ✈ Expansion of Air Cargo Center by 15,000 m² by the end of 2017 ✈ Significant settlement projects in the Airport City (DHL – completion of the deal Q3/2017) ✈ Investments of € 30 million in measures to reduce CO2 emissions ✈ Planning of OP4 has starte
Slide 11: Outlook confirmed for 2017
Outlook confirmed for 2017 Outlook 2017 Revenue ¨ > € 740 million EBITDA ¨ > € 315 million Group net profit1 ¨ > € 120 million Net debt ¨ < € 350 million CAPEX ¨ > € 100 million 11 1) Before non-controlling interests
Slide 12: Segment Results H1/2017
12 = AN Vienna VI International Airport
Slide 13: Airport: Positive development of flight traffic continues
Airport: Positive development of flight traffic continues ✈ Passenger volume up 6.9% to 11.2 million travellers in € million H1/2017 H1/2016 ∆ in % External revenue 172.5 171.4 +0.7 ✈ Main drivers of this positive development were Austrian Airlines, EBITDA 78.7 76.0 +3.5 Eurowings and easyJet – enab
Slide 14: Handling: Revenue increase despite slight drop in flight movements
Handling: Revenue increase despite slight drop in flight movements ✈ Increased income despite slight drop in flight movements related to deployment of larger in € million H1/2017 H1/2016 ∆ in % aircraft (higher MTOW) and new customers, price adjustments as well as higher de-icing External revenue 79
Slide 15: Retail & Properties: Slight rise in revenue
Retail & Properties: Slight rise in revenue ✈ Shopping & F&B: recovery on the in € million H1/2017 H1/2016 ∆ in % horizon due to good development for passengers from Russia and China – External revenue 61.4 59.5 +3.1 slightly disproportionate revenue increase of 7.3% (PRR at € 1.99 vs. EBITDA 38.2 3
Slide 16: Malta: Earnings increase due to strong passenger growth
Malta: Earnings increase due to strong passenger growth ✈ 20.3% passenger growth in in € million H1/2017 H1/2016 ∆ in % H1/2017 External revenue 36.7 31.4 +16.7 ✈ Significant revenue increase reflects EBITDA 20.4 16.0 +27.7 flight traffic development: Airport and Retail & Properties revenue EBIT 16.
Slide 17: Results of strategic investments
Results of strategic investments Malta Int. Airport Kosice Airport H1/2017 H1/2017 ✈ About 2.6 million passengers ✈ About 0.2 million passengers (+20.3%) (+11.0%) 2016 2016 ✈ About 5.1 million passengers ✈ About 0.4 million passengers (+10.0%) (+6.4%) ✈ Revenue: € 73.1 million ✈ Revenue: € 9.1 milli
Slide 18: Traffic Results H1/2017
TRAFFIC RESULTS H1/2017 18 = AN Vienna VI @G International Airport
Slide 19: Traffic development H1/2017 Flughafen Wien Group
Traffic development H1/2017 Flughafen Wien Group Group passenger development H1/2017 H1/2016 ∆ in % Vienna Airport (millions) 11.22 10.50 +6.9 Malta Airport (millions) 2.64 2.19 +20.3 Kosice Airport (millions) 0.19 0.17 +11.0 Vienna Airport and its strategic 14.05 12.86 +9.2 investments (VIE, MLA, K
Slide 20: Share of scheduled carriers
Share of scheduled carriers H1/2017 Share in % Passengers PAX ∆% vs. H1/2016 1. Austrian Airlines 46.8 5,256,169 +13.3 2. Eurowings & Germanwings 8.8 990,245 +77.2 3. airberlin 5.0 556,392 -14.7 4. Lufthansa 3.9 442,475 +1.8 5. easyJet Group1 3.6 399,529 +42.5 6. NIKI 2.6 291,742 -69.8 7. Emirates 2
Slide 21: Traffic development at Vienna Airport in July 2017
Traffic development at Vienna Airport in July 2017 July 2017 July 2016 ∆ in % Passengers (millions) 2.54 2.43 +4.5 Local passengers (millions) 1.79 1.71 +4.6 Transfer passengers (millions) 0.75 0.71 +4.5 Flight movements (in 1,000) 21.14 20.94 +0.9 MTOW (millions of tonnes) 837.33 815.72 +2.6 Seat l
Slide 22: New flight offerings and discontinued flight service in 2017
New flight offerings and discontinued flight service in 2017 ✈ Austrian Airlines ✈ Eurowings New: Los Angeles, Mahé (Seychelles), New: Agadir, Birmingham, Brindisi, Burgas, Gothenburg, Shiraz Dortmund, Hurghada, Ibiza, Jerez, Frequency increases: Cairo, Hamburg, Kalamata, Kavala, Lamezia Terme, Las
Slide 23: Traffic forecast for 2017: Upward revision of guidance
Traffic forecast for 2017: Upward revision of guidance Flughafen Wien Group: 2016 Forecast 2017 Passengers 28.9 million ¨ > 5% Flughafen Wien AG: 2016 Forecast 2017 Passengers 23.4 million ¨ > 4% ✈ Recovery of flight traffic to Eastern Europe ✈ Growth to all flight traffic areas ✈ Far-reaching capac
Slide 24: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 24