Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2014 Earnings Presentation
18 slides from Flughafen Wien's earnings presentation, 2015
Slide 1: Results in 2014: Growth despite headwinds
RESULTS IN 2014: GROWTH DESPITE HEADWINDS Positive outlook for 2015
Slide 2: 2014: Successful year in spite of strong crisis-related headwinds
2014: Successful year in spite of strong crisis- related headwinds – positive growth prospects for 2015 ✈ Good business development of the company in 2014: Significantly improved net profit1) of € 82.5 million (+12.5%) in spite of modest revenue increase of 1.3% ✈ Earnings growth made possible by st
Slide 3: Continuous improvement in EBITDA margin underlines strong productivity gains
Continuous improvement in EBITDA margin underlines strong productivity gains 40% 30% 20% 38.8% 39.7% 36.5% 31.5% 32.5% 10% 0% 2010 2011 2012 2013 2014 All financial indicators for 2014 refer to the preliminary annual results for 2014. The final results will be published in the 3 Annual Report and An
Slide 4: Substantial earnings increase despite restrained revenue rise – Dividend proposal
Substantial earnings increase despite restrained revenue rise – Dividend proposal of € 1.65 per share (+26.9% vs. € 1.30 in 2013) in € million 2014 2013 ∆ in % Revenue 630.2 622.0 +1.3 Earnings before interest, tax, 250.2 241.5 +3.6 depreciation and amortisation (EBITDA) Earnings before interest and
Slide 5: Expenses: Reduction based on cost discipline and mild winter
Expenses: Reduction based on cost discipline and positive effects of the mild winter in € million 2014 2013 ∆ in % ✈ Comparatively mild winter and energy savings measures result Consumables & -38.9 -46.1 -15.7 services used in reduced expenses of about € 10 million for materials and energy Personnel
Slide 6: Considerable decrease in net burden – net debt reduced by € 127 million
Considerable decrease in the net burden – net debt reduced by € 127 million Free cash flow of € 153 million (+29.8% ) 2014 2013 ∆ in % Net debt (€ million) 506.2 633.4 -20.1 Gearing (%) 53.1 69.9 -16.8%p. Cash flow from operating activities 220.6 204.4 +7.9 (€ million) Free cash flow (€ million) 153
Slide 7: Significant improvement in net debt and gearing
Significant improvement in net debt (€ 506.2 million) and gearing (53.1%) ✈ Net debt reduced by € 127.1 million As of Dec. 31, 2014 2014 2013 ∆ in % since the beginning of the year to € 506.2 million – target of € 600 million Net debt 506.2 633.4 -20.1 (€ million) clearly surpassed – medium-term goa
Slide 8: Free cash flow up 30%, CAPEX under normalized level
Free cash flow up 30%, CAPEX under normalized level ✈ Positive free cash flow of € 118.0 million Cash flow (€ million) 250 increased by about 30% to € 153.1 million ✈ Cash flow from operating activities up 200 7.9% in 2014 to € 220.6 million, especially due to improved operating results, 150 decline
Slide 9: Airport will continue to invest heavily in 2015
Airport will continue to invest heavily in 2015 Planned CAPEX of about € 95 million Key projects in 2015: ✈Project start for expansion of Air Cargo Center ✈Preparations for construction of a new hotel ✈Runway renovation 11/29 – Part 1 ✈Expansion of conferencing/Revitalization of Office Park 3 All fi
Slide 10: Share price development since January 2012
Share price development since January 2012: +162%, market capitalization over € 1.6 billion 280 +162% 260 240 220 Indexed to 100 200 180 +86% 160 140 +32% 120 100 80 FWAG ATX Benchmark (FRA, ADP, ZRH) average Return of share to ATX (March 24, 2014) Share price development from January 1, 2012 to Feb
Slide 11: Outlook for 2015 – Earnings rise targeted
Outlook for 2015 – Drop in passenger volume in Q1/2015 – Earnings rise targeted for 2015 2014 Financial targets in 2015 Revenue € 630.2 million ¨ > € 645 million EBITDA € 250.2 million ¨ > € 250 million Group net profit1) € 82.5 million ¨ ≥ € 85 million Net debt € 506.2 million ¨ ≤ € 500 million CAP
Slide 12: Segment Results 2014
SEGMENT RESULTS 2014 NANI Vienna Ww woo
Slide 13: Airport: Passenger record, revenue increase and stable cost development
Airport: Passenger record, revenue increase and stable cost development – in spite of crisis ✈ Passenger record of 22.5 million in € million 2014 2013 ∆ in % passengers (+2.2%) – outstanding development of long-haul flight External revenue 344.1 331.4 +3.8 traffic (+27.8% North America, EBITDA 141.3
Slide 14: Handling: Reduced income due to mild winter
Handling: Reduced income due to mild winter - increase in cargo handling ✈ Lower income due to mild winter and in € million 2014 2013 ∆ in % thus strong reduction in de-icing – but also lower material costs External revenue 145.7 151.9 -4.0 EBITDA 17.6 22.6 -21.9 ✈ Good air cargo development leads t
Slide 15: Retail & Properties: Higher revenue from shopping, gastro and parking
Retail & Properties: Higher revenue from shopping & gastro and parking ✈ Shopping and gastro strategy is in € million 2014 2013 ∆ in successful: revenue increase of % 4.1% and rise in income per External revenue 123.8 121.2 +2.2 passenger despite crises in EBITDA 74.9 61.6 +21.6 Russia/Ukraine EBIT
Slide 16: Results of strategic investments in 2014
Results of strategic investments in 2014 Malta Int. Airport Airport Kosice ✈ Approx. 4.3 million passengers ✈ Approx. 0.4 million passengers (+6.4%) (+50.4%) ✈ Revenue: € 64.3 million ✈ Revenue: € 9.0 million. ✈ EBITDA: € 34.1 million, ✈ EBITDA: € 2.7 million, EBIT: € 27.5 million. EBIT: € 1.9 milli
Slide 17: Traffic forecast for 2015
Traffic forecast for 2015 ✈ New destinations and increased frequencies at AUA and NIKI, as well as by Aegean, AirBaltic, Air Moldova, EasyJet, Europe Airpost, Estonian Air, Montenegro Airlines, Pegasus Airlines, SunExpress, TUIFly, Vueling ✈ Decline expected in Q1/2015 – slightly positive outlook fo
Slide 18: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 18