Slide 1: Results for the First Six Months of 2007
Results for the First Six Months of 2007 Flughafen Wien Group 22. August 2006 Mag. Herbert Kaufmann Vorstandssprecher Flughafen Wien AG Herbert Kaufmann 23 August 2007
Slide 2: Highlights for the First Six Months of 2007
Highlights for the First Six Months of 2007 Revenue 1-6/2007: EUR 239.9 million + 6.5% EBITDA 1-6/2007: EUR 94.4 million + 12.4% EBIT 1-6/2007: EUR 60.9 million + 14.1% Net profit 1-6/2007: EUR 42.4 million + 9.6% after minority interest Passenger development: + 8.9% (above European average of 5.5%*
Slide 3: Results for 1-6/2007
Results for 1-6/2007 Change in EUR mill. 1-6/2007 1-6/2006 in % Revenue 239.9 225.3 + 6.5 Other operating income 8.3 6.4 + 29.2 Operating income 248.1 231.7 + 7.1 Operating expenses (excl. depr./amort.) -153.8 -147.7 + 4.1 EBITDA 94.4 83.9 + 12.4 Depreciation and amortisation -33.5 -30.6 + 9.5 EBIT
Slide 4: Results for 1-6/2007: Revenue structure
Results for 1-6/2007 Revenue structure Non - Aviation Handling EUR 62.2 mill. EUR 70.2 mill. + 15.6% - 0.8% 26.0% 29.2% Revenue structure excl. Handling 44.8% Airport 36.7% 63.3% EUR 107.4 mill. + 6.8%
Slide 5: Results for 1-6/2007: Overview of operating expenses
Results for 1-6/2007 Overview of operating expenses Change in EUR mill. 1-6/2007 1-6/2006 in % Consumables and services 16.1 18.5 - 12.9 Personnel expenses 103.1 96.6 + 6.8 Depreciation and amortisation 33.5 30.6 + 9.5 Other operating expenses 34.6 32.7 + 5.7 Total operating expenses 187.3 178.3 + 5
Slide 6: Results for 1-6/2007: Key data
Results for 1-6/2007 Key data in % 1-6/2007 1-6/2006 EBIT margin 24.5 23.0 EBITDA margin 38.0 36.2 WACC 6.6 5.9 Gearing* 41.6 30.0 * European Investment Bank credit: € 400 mill., term 25 years, fixed interest rate
Slide 7: Results for 1-6/2007: Segment reporting
Results for 1-6/2007 Segment reporting Change in EUR mill. 1-6/2007 1-6/2006 in % Airport Ext. segment revenue 107.4 100.5 + 6.8 Segment earnings 43.8 36.4 + 20.2 EBITDA margin in % 50.7 46.7 n.a. Handling Ext. segment revenue 70.2 70.8 - 0.8 Segment earnings 4.7 8.8 -46.5 EBITDA margin in % 10.3 14
Slide 8: Traffic 1-6/2007
Traffic 1-6/2007 Passengers: 8,562,570 (+ 8.9%) Transfer passengers: 2,852,242 (+ 8.2%) Flight movements: 121,236 (+ 4.8%) MTOW ( in tonnes): 3,450,619 (+ 5.5%) Cargo incl. trucking (in tonnes): 131,658 (+ 1.2%)
Slide 9: Traffic 1-6/2007: Highlights
Traffic 1-6/2007 Highlights for the first six months of 2007 Growth in traffic at VIE +8.9% Traffic to Middle East +16.8% Traffic to Eastern Europe + 20.0% Passengers handled by low-cost carriers +38.3% Low-cost carriers as a % of total passengers 16.8% New airlines
Slide 10: Traffic 1-6/2007: Comparison of Eastern Europe
Traffic 1-6/2007 Comparison of Eastern Europe
Slide 11: Traffic 1-6/2007: Passengers at selected European airports
Traffic 1-6/2007 Passengers at selected European airports, 3-year average ¾ Growth of VIE in 3-year comparison: +10.4% p.a. ¾ In 3-year comparison, only the airports in: 4Prague +16.0% p.a. 4Budapest +16.0% p.a. 4Moscow – SVO +14.4% p.a. 4Dublin +10.5% p.a. have recorded higher growth rates.
Slide 12: Traffic 1-6/2007: Airlines – share of passengers
Traffic 1-6/2007 Airlines – share of passengers % 1-6/2007 1-6/2006 AUA Group 54.3 56.8 Air Berlin 6.4 6.5 Lufthansa 5.6 5.9 Niki 5.6 4.2 Germanwings 2.4 2.3 Sky Europe 2.0 0.0 British Airways 1.9 2.2 Swiss Intl. 1.8 1.8 Air France 1.7 1.8 KLM 1.4 1.4 Other 16.9 17.1
Slide 13: Traffic 1-7/2007
Traffic 1-7/2007 Juli Forecast 1-6/2007 1-7/2007 2007 2007 Passengers 8,562,570 1,856,429 10,418,999 Change in % +8.9 + 9.1 + 9.0 8% MTOW (in tonnes) 3,450,619 680,302 4,130,921 Change in % + 5.5 + 8.8 + 6.0 5% Flight movements 121,236 23,035 144,271 Change in % + 4.8 + 7.3 + 5.2 4.5% Cargo incl. tr
Slide 14: Long-Term Forecast
Long-Term Forecast Number of passengers at Vienna International Airport 2000 - 2015 28 27.5 Average growth rate 2008-2015: ~ 5.3 26.1 26 24.8 24 23.6 22.4 21.3 PAX in mill. 22 20.2 19.2 20 18.2 16.9 18 15.9 14.8 Forecast 2007: + 8.0% 16 14 12.8 11.9 11.9 12.0 2006: + 6.3% 12 10 00 01 02 03 04 05 06
Slide 15: Investments 2007 - 2011
Investments 2007 - 2011 in EUR million Airport and Non-Aviation Investments 203 2007 - 2011: EUR 474 million 201 Plus maintenance and replacement investments of EUR 25 – 30 million p.a. 53 12 5 2007 2008 2009 2010 2011
Slide 16: Strategy
Strategy Airport Segment ¾ Goal: growth of 1% above European average • Focus on Eastern Europe, transfer hub and low-cost carriers • Tariffs and incentives • Capacity measures Handling Segment ¾ Goal: safeguard market share and quality standards Non-Aviation Segment ¾ Goal: significant increase in s
Slide 17: Strategy: Airport Segment
Strategy Airport Segment z Focus on Eastern Europe, transfer hub and low-cost carriers ¾ Key gateway to Eastern Europe (+20.0% in passenger volume during first six months of 2007) ¾Transfers stable at high level (33.4%) ¾ Low-cost carriers: + 38.3% in number of passengers z Marketing activities ¾ In
Slide 18: Tariffs in Comparison
Tariffs in Comparison* *Flights to all regions - all airlines - excl. security Continuation of incentive programme Note: VIE growth and transfer incentives were deducted from the landing tariff because these measures benefit the airlines. Legend: Landing tariff Infrastructure tariff Parking tariff P
Slide 19: Strategy: Airport Segment capacity measures
Strategy Airport Segment z Capacity measures z “SKYLINK” terminal expansion ¾Terminal area 76,000 m² ¾ Check-in counters 96 ¾ Aircraft parking positions: 17 ¾Gates: 51 ¾ Maintain minimum connecting time of 25 minutes ¾ Parallel runway to ensure sufficient capacity over the long-term ¾Start of enviro
Slide 20: Strategy: Handling Segment
Strategy Handling Segment z Hold key customers over the mid-term ¾ Korean up to 12/2010 ¾ Austrian up to 12/2009 ¾ Eva Air up to 2/2009 ¾ China Airlines up to 12/2009 ¾ Qatar up to 12/2009 z Market share for first half of 2007: 88.8% zPunctuality ¾ Number ONE among selected European airports (Q1/200
Slide 21: Strategy: Non-Aviation Segment
Strategy Non - Aviation Segment z Skylink Terminal: ¾ Substantial increase in gastronomy and shop space beginning in 2009 ¾ Start of tender process for 52 retail shops Reduction Additional Space Total space . in space space in in 2006 as of 2009 as of 2009 Skylink Shopping / Gastronomy 11,200 m2 3,5
Slide 22: Strategy: Non-Aviation Segment parking and security
Strategy Non - Aviation Segment z Parking: ¾ Current status: 15,400 parking spaces – thereof 8,000 in car parks ¾ Plus 5,000 spaces in Mazur parking lot (off airport) ¾ Expansion: 2,200 parking spaces in car park 4 (beginning in mid-2008) z Vienna International Airport Security Services GesmbH ¾ Inc
Slide 23: International Projects
International Projects Kosice Airport Second largest airport in Slovakia 66% stake held by TwoOne Consortium since 25 October 2006 Location near borders of: Poland – Ukraine – Hungary - Slovakia 343,818 passengers in 2006 169,680 passengers 1-6/2007 (+ 24.0%) Investment programme: ~EUR 11 million
Slide 24: Investment Project: Malta
Investment Project: Malta Results 1-6/2007 Owners Revenue: EUR 18.7 mill. (+9.2%) – Government of Malta: 20.0% EBIT: EUR 5.2 mill. (+25.7%) – Private investors: 29.9% Profit : EUR 2.7 ´mill. (+ 32.1%) – VIE through 100% subsidiary 10.1% – MMLC (thereof VIE: 57%) 40.0% Passengers 2006 ¾ 2,701,624 z P
Slide 25: Friedrichshafen Airport
Friedrichshafen Airport Flughafen Wien AG is the largest single shareholder with stake of 25.15% Located near borders of: Germany – Austria – Switzerland 650,000 passengers in 2006 318,970 passengers 1-6/2007 (+ 10.3%) Acquisition price: EUR 7.7 million
Slide 26: Results for the First Six Months of 2007
Results for the First Six Months of 2007 Flughafen Wien Group 22. August 2006 Mag. Herbert Kaufmann Vorstandssprecher Flughafen Wien AG Herbert Kaufmann 23 August 2007