Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1-3 2013 Earnings Presentation
22 slides from Flughafen Wien's earnings presentation, 2013
Slide 1: Flughafen Wien AG Results for Q1-3/2013
FLUGHAFEN WIEN AG Results for Q1-3/2013
Slide 2: Highlights in Q1-3/2013
Highlights in Q1-3/2013 ✈ Passenger traffic -1.1% in Q1-3/2013 – but +0.2% in local PAX Reasons: severe winter, capacity reductions by the airlines and strikes in Germany, Yen devaluation, crisis in Egypt PAX development in October +1.0% ✈ 2.8% growth in revenue due to adjusted security fee and
Slide 3: Traffic slightly lower in Q1-3/2013
Traffic slightly lower in Q1-3/2013 Q1-3/2013 Q1-3/2012 ∆ in % Passengers (in mill.) 16.74 16.93 -1.1 Local passengers (in mill.) 11.49 11.46 0.2 Transfer passengers (in mill.) 5.23 5.43 -3.7 Flight movements (in 1,000) 175.34 185.89 -5.7 MTOW (in mill. tonnes) 5.96 6.17 -3.4 Cargo incl. trucking (i
Slide 4: Traffic Results – Share of Airlines
Traffic Results – Share of Airlines Q1-3/2013 Q1-3/2012 Q1-3/2013 ∆ in % Passagiere 16,738,211 16,927,884 -1.1 Share in % Share in % PAX absolute PAX ∆ in % Austrian Airlines Group 49.0 49.4 8,206,967 -1.8 Lufthansa 5.5 5.3 919,152 1.6 Germanwings 2.6 2.2 431,694 16.5 Swiss Intl. 1.6 1.5 265,496 6.4
Slide 5: EBIT and net profit negatively influenced by depreciation and interest expense as expected
EBIT and net profit negatively influenced by depreciation and interest expense as expected in € mill. Q1-3/2013 Q1-3/2012 ∆ in % Revenue 470.3 457.5 2.8 EBITDA 191.5 174.6 9.7 EBIT 94.4 102.8 -8.2 Financial results -10.8 -8.6 25.3 Profit before taxes (EBT) 83.6 94.2 -11.3 Net profit for the period (
Slide 6: Improvement in financial structure: free cash flow more than doubled; net debt target already reached
Improvement in financial structure: free cash flow more than doubled; net debt target already reached Q1-3/2013 Q1-3/2012 ∆ in % Net debt 639.0 719.6 -11.2 (in € mill.; 30.9.2013 vs. 31.12.2012) Gearing 71.5 84.5 -13.0%p. (in %; 30.9.2013 vs. 31.12.2012) Cash flow from operating activities 171.3 139
Slide 7: Expenses
Expenses ✈ Higher expenses for de-icing in € mill. Q1-3/2013 Q1-3/2012 ∆ in % materials due to severe winter and planned increase in use of Consumables -34.7 -30.2 14.9 maintenance materials. Decline Personnel -185.4 -189.8 -2.4 in energy consumption despite Other operating full operations in Check-
Slide 8: Debt and Gearing
Debt and Gearing ✈ Decline in cash and cash equivalents 30.9.2013 31.12.2012 ∆ in % (€ -32.6 mill.) and securities (€ -9.7 mill.) due to repayment of financial liabilities Net debt 639.0 719.6 -11.2 (in € mill.) ✈ Reduction of 12.0% in long-term debt to € 734.0 mill. chiefly due to reclassification
Slide 9: Cash Flow and CAPEX
Cash Flow and CAPEX ✈ Free cash flow more than doubles from Cash Flow (in € mill.) € 44.2 mill. to € 112.3 mill. 200 ✈ Cash flow from operating activities 150 increases 23.2% to € 171.3 mill. in Q1-3/2013 due to improvement in 100 171 operating results 139 50 ✈ Cash flow from investing activities 0
Slide 10: Current Projects
Current Projects Renovation of Runway 16/34 during April and May 2013 completed ✈ Runway last renovated nearly 20 years ago ✈ Total costs approx. € 28 mill. ✈ Final grooving and marking works completed in October as scheduled Modernisation of infrastructure and increase in service quality ✈ 30 locat
Slide 11: Traffic Forecasts
Traffic Forecasts ✈ From the current viewpoint, traffic development will reflect the announced range ✈ Special effects and capacity adjustments by major airlines ✈ Challenging market environment for airlines ✈ Positive development of passenger traffic in October: +1% Clear signs of trend reversal fo
Slide 12: Financial Guidance for 2013 Confirmed
Financial Guidance for 2013 Confirmed 2012 Financial targets for 2013 Revenue € 607 mill. Approx. € 625 mill1 EBITDA € 221 mill. Increase > € 230 mill. Net profit € 72 mill. > € 65 mill. 3.3x EBITDA Net debt € 720 mill. Target: decrease < 2.9x EBITDA (<€ 680 mill.) Status 30.9.2013: 2.7 EB
Slide 13: Appendix
APPENDIX 13 J Ley ANI Vienna International Airport
Slide 14: Segment Results – Reconciliation
Segment Results – Reconciliation Q1-3/2013 EBIT (in € mill.) Other Other Segments Segments R&P R&P Handling Handling Aviation Aviation OLD: OLD: OLD: Allocation effects NEW: Total Segment EBIT Group EBIT Not allocated of the individual segments Total Segment EBIT = Group EBIT ✈ Previously unallocate
Slide 15: Segment Results – Q1-3/2013
Segment Results – Q1-3/2013 Retail & Other Airport Handling1 Properties Segments ∆ in % ∆ in % ∆ in % ∆ in % External revenue (in € mill.) 250.7 5.8 115.0 -2.3 91.6 0.9 12.9 7.1 EBITDA (in € mill.) 98.7 0.3 18.8 52.4 55.9 6.0 18.3 63.8 EBIT (in € mill.) 31.7 -40.8 14.7 85.4 39.9 0.3 8.2 n.a. Employe
Slide 16: Airport Segment
Airport Segment ✈ Increase in revenue – despite traffic in € mill. Q1-3/2013 Q1-3/2012 ∆ in % decline in Q1-3/2013 – above all due to adjusted security fee and External revenue 250.7 236.9 5.8 decline in incentives EBITDA 98.7 98.4 0.3 ✈ Comparatively low increase in EBIT 31.7 53.5 -40.8 expenses ✈
Slide 17: Handling Segment
Handling Segment ✈ Revenue growth supported, in in € mill. Q1-3/2013 Q1-3/2012 ∆ in % particular, by income from External revenue 115.0 117.7 -2.3 individual services, mainly de-icing EBITDA 18.8 12.3 52.4 ✈ Substantial increase in income EBIT 14.7 7.9 85.4 from VIAS Employees 3,198 3,302 -3.1 (aver
Slide 18: Retail & Properties Segment
Retail & Properties Segment ✈ Positive development of real in € mill. Q1-3/2013 Q1-3/2012 ∆ in % estate and advertising space External revenue 91.6 90.8 0.9 rentals EBITDA 55.9 52.7 6.0 ✈ Decline in parking revenue due to lower capacity utilisation in EBIT 39.9 39.8 0.3 Q1-3/2013 Employees 83 83 -0.
Slide 19: Leading Hub to Eastern Europe
Leading Hub to Eastern Europe – with 38 destinations ranked ahead of MUC, ZRH and FRA -0.3% 88.6% -2.4% 19.7% +0.3% +2.2% 68.9% 2.1% -5.1% 4.6% -9.3% 3.1% -8.2% 1.6% Figures for Q1-3/2013 and development in comparison to Q1-3/2012, respectively 19
Slide 20: Aviation will also remain a growth market in the future
Aviation will also remain a growth market in the future Traffic development VIE vs. ACI Europe 2009-2020 20
Slide 21: Traffic Development since 2008
Traffic Development since 2008 2500 1000 PAX (in 1,000) Transfer PAX (in 1,000) 2300 900 2100 800 1900 2013 PAX 700 2013 Transfer PAX 1700 2012 PAX 600 2012 Transfer PAX 1500 500 2011 PAX 2011 Transfer PAX 1300 400 2010 PAX 2010 Transfer PAX 1100 300 900 2009 PAX 200 2009 Transfer PAX 700 2008 PAX 1
Slide 22: Thank you for your attention
THANK YOU FOR YOUR ATTENTION 22