Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1 2008 Earnings Presentation
24 slides from Flughafen Wien's earnings presentation, June 2008
Slide 1: Results for the First Three Months of 2008
Results for the First Three Months of 2008 Flughafen Wien Group 22. August 2006 Mag. Herbert Kaufmann Vorstandssprecher Flughafen Wien AG June 2008
Slide 2: Facts & Activities
Facts & Activities 18.8 mill. passengers in 2007 Excellent location as gateway to East European countries Share of transfer traffic in 2007: 31.9% Full-service airport provider Vienna Airport plc (incl. ground handling) ●Privatised in 1992 Working environment: ●Ownership structure since 2001: ● 4.08
Slide 3: Highlights 2007
Highlights 2007 Revenue: EUR 521.4 mill. + 12.4% EBITDA: EUR 191.0 mill. + 12.6% Net profit : EUR 87.7 mill. + 14.2% after minority interests Dividend per share: EUR 2.50 + 13.6% Passengers: + 11.3% (above European average of 6.5 %*) * Source: ACI
Slide 4: Highlights for 1-3/2008
Highlights for 1-3/2008 Revenue 1-3/2008: EUR 128.8 mill. + 16.2% EBITDA 1-3/2008: EUR 46.8 mill. + 13.3% EBIT 1-3/2008: EUR 29.7 mill. + 19.1% Net profit 1-3/2008: EUR 20.8 mill. + 18.1% after minority interest Passenger development: + 16.4%
Slide 5: Results for 1-3/2008
Results for 1-3/2008 Change in EUR mill. 1-3/2008 1-3/2007 in % Revenue 128.8 110.8 + 16.2 Other operating income 2.3 1.9 + 21.6 Operating income 131.1 112.7 + 16.3 Operating expenses (excl. depr./amort.) - 84,3 - 71.4 + 18.0 EBITDA 46.8 41.3 + 13.3 Depreciation and amortisation - 17.1 - 16.3 + 4.6
Slide 6: Results for 1-3/2008: Revenue structure
Results for 1-3/2008 Revenue structure Non - Aviation Handling EUR 34,1 mill. EUR 38,0 mill. + 14.4% + 14.4% 26.5% 29.5% 44.0% Revenue structure Airport excl. Handling EUR 56.7 mill. + 18.6% 37,6% 62,4%
Slide 7: Results for 1-3/2008: Segment reporting
Results for 1-3/2008 Segment reporting Change in EUR mill. 1-3/2008 1-3/2007 in % Airport Ext. segment revenue 56.7 47.8 + 18.6 Segment earnings (EBIT) 20.7 18.8 + 10.4 EBIT margin in % 32.3 34.2 n.a. Handling Ext. segment revenue 38.0 33.2 + 14.4 Segment earnings 3.8 1.8 + 108.6 EBIT margin in % 8.
Slide 8: Investments 2008 – 2012 (excl. purchase of land)
Investments 2008 – 2012 (excl. purchase of land) EUR mill. Terminals 333 Apron, taxiways 40 Construction on the core zone 65 Security 64 Parking 28 Others 59 TOTAL 589 3rd runway 2010 – 2012: 208
Slide 9: Investments 2008 – 2012 (excl. purchase of land)
Investments 2008 – 2012 (excl. purchase of land) in EUR mill. Airport- und Non-Aviation Investments 290 2008 - 2012: EUR 589.2 mill. In addition: maintenance and replacement 195 99 investments of EUR 30 – 35 mill. p.a. 74 Additional for 3rd runway 35 53 34 17 2008 2009 2010 2011 2012
Slide 10: Investments 2008 – 2012 (excl. purchase of land)
Investments 2008 – 2012 (excl. purchase of land)
Slide 11: Traffic 1-3/2008
Traffic 1-3/2008 Passengers: 4,296,149 (+ 16.4 %) Transfer passengers: 1,315,282 (- 0.5 %) Movements: 63,413 (+ 12.3 %) MTOW ( in tonnes): 1,829,843 (+ 15.9 %) Cargo incl. trucking (in tonnes): 67,048 (+ 6.5 %)
Slide 12: Traffic 1-3/2008: Highlights
Traffic 1-3/2008 Highlights for the first three months of 2008 Growth in traffic at VIE +16.4% Traffic to Middle East +15.4% Traffic to Eastern Europe + 28.7% Passengers handled by low-cost carriers +80.2% Low-cost carriers as a % of total passengers 23.5%
Slide 13: Traffic 1-5/2008
Traffic 1- 5/2008 May Forecast 1-4/2008 1-5/2008 2008 2008 Passengers 5,973,345 1,840,859 7,814,204 Change in % + 14.4 + 13,2 + 14.2 8% MTOW (in tonnes) 2,474,631 687,052 3,161,683 Change in % + 14.0 + 8.8 + 12.9 6% Flight movements 86,039 23,446 109,485 Change in % + 11.8 + 5.9 + 10.5 6% Cargo incl
Slide 14: Long-Term Forecast
Long-Term Forecast Number of passengers at Vienna International Airport 2000 - 2015 35 Average growth rate 2009-2010: ~ 6.0% Average growth rate 2011-2015: ~ 5.3% 29.5 30 28.0 26.6 PAX in mill. 25.3 24.0 25 22.8 21.5 20.3 18.8 20 16.9 14.8 15.9 Forecast 2008: + 8.0% 15 12.8 11.9 11.9 12.0 2007: + 11
Slide 15: Strategy
Strategy Airport Segment ¾ Goal: growth of 1% above European average Handling Segment ¾ Goal: safeguard market share and quality standards Non-Aviation Segment ¾ Goal: significant increase in shops and gastronomy ¾ Real estate development
Slide 16: Tariffs in Comparison
Tariffs in Comparison* *Flights to all regions - all airlines - excl. security Continuation of incentive programme 1 M AD 63% 2 CPH 70% Durchschnitt 3 GVA 71% 4 ZRH 74% 5 KLU 77% 6 BRU 78% 7 M LA 83% 8 PRG 83% 9 M XP 85% 10 VIE 95% 11 BUD 95% 12 WAW 97% 13 TXL 98% 14 STR 99% - Average 100% 15 SZG 10
Slide 17: Tariffs 2008
Tariffs 2008 Major changes as of 1.1.2008 z 0.09% decrease in the landing charge, parking fee and airside infrastructure charge z 1.04% decrease in the passenger service charge and landside infrastructure charge
Slide 18: Strategy Handling Segment
Strategy Handling Segment z Contracts were concluded in 2007, among others, with following customers: • Air Berlin • NIKI • SkyEurope • Easy Jet • Korean Air • Delta Air Lines • Saudi Arabian Airlines z In January 2008 contracts were concluded with: • Lufthansa • Germanwings z Market share 2007: 89.
Slide 19: Strategy Non-Aviation Segment
Strategy Non – Aviation Segment Terminal extension - Skylink : z Substantial increase in gastronomy and shop space beginning in 2009 z Start of tender process for 52 retail shops Existing Reduction in Additional Additional Space Space from space in space from space space in T2 2009 2010 onwards 2007
Slide 20: International Investments
International Investments Friedrichshafen Kosice Malta
Slide 21: International Investments: Kosice Airport
International Investments 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 443,448 passengers in 2007 (+29%) Investment programme: ~EUR 11 mill.
Slide 22: International Investments: Malta Airport
International Investments Malta Airport Owners – Government of Malta: 20.0% – Private investors: 29.9% – VIE through 100% subsidiary 10.1% – MMLC (thereof VIE: 57,1%) 40.0% 2,970,830 passengers in 2007 (+10.4%)
Slide 23: International Investments: Friedrichshafen Airport
International Investments Friedrichshafen Airport Flughafen Wien AG is the largest single shareholder with stake of 25.15% Located near borders of: Germany - Austria - Switzerland 655,689 passengers in 2007 (- 0.3%)
Slide 24: Results for the First Three Months of 2008
Results for the First Three Months of 2008 Flughafen Wien Group 22. August 2006 Mag. Herbert Kaufmann Vorstandssprecher Flughafen Wien AG June 2008