Flughafen Wien Ag · VIE:FLU
Flughafen Wien — FY2018 Earnings Presentation
29 slides from Flughafen Wien's earnings presentation, Feb 26, 2019
Slide 1: Flughafen Wien Group: Successful track record in 2018
FLUGHAFEN WIEN GROUP Successful track record in 2018 Higher earnings thanks to record growth Airport City as an innovation hub February 26, 2019
Slide 2: 2018: Substantial increase in revenue and earnings
2018: Substantial increase in revenue and earnings ✈ Outstanding corporate development in 2018: higher revenue (+6.2%) and net profit for the period1 (+19.7%) ✈ Resolute continuation of the productivity strategy: improved EBITDA margin of 43.8% (2018) compared to 30.7% (2011) ✈ Further increase in f
Slide 3: Ongoing increase in the profit for the period since 2011
Ongoing increase in the profit for the period since 2011 – rise also expected in 2019 180 160 140 120 in € million 100 80 >165 152 60 127 112 113 92 40 79 81 20 38 0 1 2 2011 2012 2013 2014 2015 2016 2017 2018 2019 Profit for the period before non-controlling interests: figures adjusted for 2011-201
Slide 4: Good net earnings in the record year 2018
Good net earnings in the record year 2018 Dividend proposal of € 0.89 per share (+30.9%) in € million 2018 2017 Δ in % Revenue 799.7 753.2 +6.2 Earnings before interest, tax, depreciation and amortization (EBITDA) 350.4 326.5 +7.3 Earnings before interest and taxes (EBIT) 220.8 191.8 +15.1 Financial
Slide 5: Expenses: Cost level above 2017 mainly due to personnel expenses
Expenses: Cost level above 2017 mainly due to personnel expenses ✈ Expenses for consumables and services up € 3.9 million year-on-year, mainly due Δ in to higher costs for energy (€ 2.0 million), in € million 2018 2017 % materials, especially for fuel and de-icing Consumables and (€ 2.0 million) ser
Slide 6: More than 30% dividend rise, payout ratio up to 55%
More than 30% dividend rise Payout ratio up to 55% Dividends (€/share) 1,000 +256% 0,750 0,500 0.890 0.680 0.625 0,250 0.500 0.413 0.325 0.250 0.263 0,000 2011 2012 2013 2014 2015 2016 2017 2018 ✈ Management Board proposes dividend increase to € 0.89/share to the Annual General Meeting (+30.9% from
Slide 7: Substantial reduction in net debt by € 84.5 million
Substantial reduction in net debt by € 84.5 million 2018 2017 Δ in % Net debt (€ million) 142.5 227.0 -37.2 Gearing (%) 11.0 18.7 -7.8%p Cash flow from operating activities 291.2 277.9 +4.8 (€ million) Free cash flow (€ million) 92.4 121.0 -23.7 CAPEX (€ million)1 165.7 103.6 +60.0 Equity (€ million
Slide 8: Further improvement in the maturity structure
Further improvement in the maturity structure – Net debt down to € 142.5 mill. Maturity structure (as at December 31, 2018; in € million) 500 400 300 200 100 0 2019 2020 2021 2022 2023 Financial liabilities thereof due this year All financial indicators for the year 2018 refer to the preliminary ann
Slide 9: Free cash flow shows strong financial standing
Free cash flow shows strong financial standing ✈ Decline in the free cash flow mainly due to in € million 2018 2017 Δ in % higher cash outflows from investing activities Cash flow from operating 291.2 277.9 +4.8 activities ✈ Cash flow from operating activities above the Cash flow from investing -198
Slide 10: Share price rise since January 2012: +375%
Share price rise since January 2012: +375% Market capitalization of about € 2.9 billion 450 400 +375% 350 300 Indexed 250 200 150 +162% 100 +61% 50 0 -50 Jul 2012 Jul 2013 Jul 2014 Jul 2015 Jan 2012 Jul 2016 Jan 2013 Jul 2017 Jan 2014 Jul 2018 Jan 2015 Apr 2012 Oct 2012 Jan 2016 Apr 2013 Oct 2013 Ja
Slide 11: Share-related indicators
Share-related indicators 2018 Share price on Dec. 31, 2018 (in €) 34.50 Market capitalisation on Dec. 31, 2018 (in € million) 2,898 Earnings per share (in €) 1.63 Market capitalisation/EBITDA multiple 8.27 EV/EBITDA multiple1 8.68 Price/earnings ratio 21.11 Price/cash flow ratio 9.95 Price/book valu
Slide 12: Airport City to become an innovation hub
Airport City to become an “innovation hub“ ✈ Vienna Airport enters into a strategic partnership with start-up incubator Target: Airport City should become a centre for innovative startups in the eastern region of Austria Excellent geographical location and easy accessibility via air, railway and
Slide 13: Airport City and Airport Region continue to grow
Airport City and Airport Region continue to grow ✈ Airport City: Lowest vacancy rate on the Viennese office market at 2.2% (Source: Vienna Research Forum) ✈ New healthcare center for employees and neighbouring residents in operation since October 2018 ✈ Vienna Pharma Handling Center for temperature-
Slide 14: Vienna Airport: Energy efficiency substantially improved
Vienna Airport: Energy efficiency substantially improved 2018 2012 Δ in % Electricity consumption (kWh/TU1) 3.24 4.42 -26.7 Heating consumption (kWh/TU) 1.66 2.42 -31.4 Fuel consumption (kWh/TU) 1.15 1.41 -18.4 Total energy needs (kWh/TU) 6.05 8.25 -26.7 CO2 emissions (kg/TU) 0.67 1.95 -65.6 Since 2
Slide 15: Top priority for sustainability and energy efficiency
Top priority for sustainability and energy efficiency ✈ Smart Airport City: Project “Intelligent Control“ with the Vienna University of Technology More than 100 measures implemented ✈ Expansion of photovoltaics: four additional projects More than 20,000 m2 of photovoltaic facilities will be crea
Slide 16: Austria's most attractive employer
16 40 50 60 70 80 62 Flughafen Wien 60 Siemens 59 Austrian Airlines 59 Voestalpine 58 OMV 58 ÖBB 57 Verbund 56 ASFINAG 56 Magna 55 ORF Austria‘s most attractive employer 55 A1 Telekom Austria IFES study confirms: Vienna Airport is 53 Kapsch 51 Österreichische Post AG
Slide 17: Positive outlook in 2019
Positive outlook in 2019 – Substantial rise planned in earnings and investments Outlook 2019 Revenue > € 820 million EBITDA > € 370 million Group profit for the period1 > € 165 million Net debt < € 150 million CAPEX ~ € 220 million 1) Before non-controlling interests 17
Slide 18: Segment Results 2018
SEGMENT RESULTS 2018 iy International Airport
Slide 19: Record year 2018 for the Flughafen Wien Group
Record year 2018 for the Flughafen Wien Group – 2019 will also be a good year ✈ Passenger record: More than 34 million passengers (+11.3%) in the Flughafen Wien Group 27.04 million passengers (+10.8%) at Vienna Airport Strong passenger growth in Malta (+13.2%) and Kosice (+9.1%) ✈ Good start to
Slide 20: Passenger volume in 2018: More private travellers
Passenger volume in 2018: More private travellers and a booming catchment area ✈ 7.4% more pieces of baggage 8.7 mill. 37,773 LUGGAGE (but declining share: 56% in DEPARTING PASSENGERS 2018 vs. 65% in 2017) ✈ Pax-share from the catchment departing departing luggage with without area (Austria, Czech R
Slide 21: Airport: Strong EBITDA and EBIT growth
Airport: Strong EBITDA and EBIT growth thanks to passenger record ✈ Passenger record at Vienna Airport with in € million 2018 2017 Δ in % 27 million passengers (+10.8%) External revenue 392.3 368.2 +6.5 ✈ Number of flight movements is rising again (7.3%) EBITDA 187.1 167.4 +11.7 EBIT 103.4 81.7 +26.
Slide 22: Handling & Security Services: Revenue increase
Handling & Security Services: Revenue increase due to cargo, General Aviation ✈ Higher proceeds due to more cargo and in € million 2018 2017 Δ in % additional income from document handling (€ +2.9 million), traffic External revenue 166.1 160.7 +3.3 handling (€ +2.4 million); added EBITDA 11.6 19.6 -
Slide 23: Retail & Properties: Strong growth in all areas
Retail & Properties: Strong growth in all areas ✈ Strong rise in income from Food & in € million 2018 2017 Δ in % Beverage (+10.0%) and retail External revenue 132.9 126.1 +5.4 businesses (+4.7%) EBITDA 85.8 71.9 +19.3 ✈ PRR of € 1.92 below the prior-year EBIT 68.6 54.6 +25.6 level of € 2.01 due to
Slide 24: New shopping and restaurant experience for passengers
New shopping and restaurant experience for passengers at Vienna Airport ✈ 12 new food and beverage outlets and retail stores in 2018: Focus on local and international brands Jamie Oliver‘s Bar in April 2018, Café Franzl, Bierbar-Oida!, Natural Tastes, Trib‘s Convenience Partner, Mr. Mobile (2x),
Slide 25: Malta: Earnings increase due to strong passenger growth
Malta: Earnings increase due to strong passenger growth ✈ New record in 2018: more than 6.8 million passengers, 13.2% rise in passenger volume in € million 2018 2017 Δ in % External revenue 92.2 82.4 +11.9 ✈ Substantial revenue increase reflects traffic development: Airport, Retail & Properties EBIT
Slide 26: Results of strategic investments
Results of strategic investments Malta Int. Airport Kosice Airport ✈ ~ 6.8 million passengers (+13.2%) ✈ ~ 0.5 million passengers (+9.1%) ✈ Revenue: € 92.2 million ✈ Revenue: € 13.3 million ✈ EBITDA: € 54.4 million ✈ EBITDA: € 4.1 million ✈ EBITDA margin: 59.0% ✈ EBITDA margin: 31.0% ✈ Net profit: €
Slide 27: Highlights 2018 & initial news for 2019
Highlights 2018 & initial news for 2019 7 new destinations in 2019 2018: 24 new destinations, 8 new airlines 3 newly stationed airlines incl. 3 new long-haul routes: • Wizz Air • Laudamotion with a total of 15 aircraft in VIE • Cape Town • Saudia • Air Arabia Maroc • Laudamotion: 8 aircraft (Mix A32
Slide 28: Traffic forecast for 2019
Traffic forecast for 2019 Flughafen Wien Group: 2018 Forecast for 2019 +8-10% Passengers 34.4 million (to about 38 million) Flughafen Wien AG: 2018 Forecast for 2019 about +10% Passengers 27.0 million (to about 30 million) ✈ Passenger growth in 2018 to continue in 2019 ✈ Vienna Airport: Share of
Slide 29: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 29