Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q3 2019 Earnings Presentation
28 slides from Flughafen Wien's earnings presentation, 2019
Slide 1: Flughafen Wien AG Q1-3/2019 Results
FLUGHAFEN WIEN AG Q1-3/2019 Results
Slide 2: Q1-3/2019: Positive traffic development - Net profit above the previous year
Q1-3/2019: Positive traffic development - Net profit above the previous year ✈ Q1-3/2019 – Passenger growth FWAG Group: +16.6%, Vienna Airport + 19.5%; Passenger increase in Malta (+6.5%) and Košice (+5.5%) ✈ Revenue increase to € 642.9 million (+7.8%), EBITDA improved by 10.2% to € 313.1 million, E
Slide 3: Positive development of EBITDA margin documents significant productivity rise
Positive development of EBITDA margin documents significant productivity rise 50% 45% 40% 35% 30% 25% 47.6% 48.7% 43.4% 44.5% 43.3% 43.8% 41.7% 20% 37.7% 40.0% 15% 30.7% 10% 5% 0% 2011 2012 2013 2014 2015 2016 2017 2018 Q1-3/2018 Q1-3/2019 Adjustment of figures for 2011-2016 as a result of the FMA d
Slide 4: Good business results thanks to revenue development and cost discipline
Good business results thanks to revenue development and cost discipline in € million Q1-3/2019 Q1-3/2018 Δ in % Revenue 642.9 596.3 +7.8 Earnings before interest, tax, depreciation and amortization (EBITDA) 313.1 284.1 +10.2 Earnings before interest and taxes (EBIT) 215.0 190.4 +12.9 Financial resul
Slide 5: Expenses: Ongoing strict cost discipline
Expenses: Ongoing strict cost discipline ✈ Expenses for consumables and Δ in in € million Q1-3/2019 Q1-3/2018 services used at the prior-year level; % energy costs lower year-on-year Consumables and -29.7 -29.5 +0.9 services used despite growth as a result of energy- saving measures Personnel expens
Slide 6: Further reduction of net debt to € 126.3 million
Further reduction of net debt to € 126.3 million Q1-3/2019 Q1-3/2018 Δ in % Net debt (€ million)1 126.3 198.2 -36.3 Gearing (%)1 9.3 15.3 n.a. Cash flow from operating activities 285.6 226.2 +26.3 (€ million) Free cash flow (€ million) 143.7 117.5 +22.3 CAPEX (€ million)2 123.2 112.7 +9.3 Equity (€
Slide 7: Net debt and gearing: Ongoing positive development
Net debt and gearing: Ongoing positive development ✈ Slight rise in equity Sept. 30, Jan. 1, Δ in % 2019 2019 ✈ Increase in non-current assets: increases Net debt1 mainly due to application of IFRS 16 (in € million) 126.3 198.2 -36.3 since Jan. 1, 2019 mainly as a result of Gearing1 (in %) 9.3 15.3
Slide 8: Free cash flow underlines financial strength
Free cash flow underlines financial strength ✈ Free cash flow above the prior-year level, Δ in in € million Q1-3/2019 Q1-3/2018 primarily related to improved cash flow from % operating activities despite higher cash flow Cash flow from from investing activities 285.6 226.2 +26.3 operating activities
Slide 9: Share price development since Jan. 2012: +419%, market cap. about € 3.2 bill.
Share price development since Jan. 2012: +419%, market cap. about € 3.2 bill. +419% +200% +174% +98% +60% 2012 2013 2014 2015 2016 2017 2018 2019
Slide 10: Airport City emerges as an innovation hub
Airport City emerges as an “innovation hub“ ✈ Vienna Airport enters into partnership with start-up incubator Target: Airport City should become a centre for innovative start-ups in the eastern region of Austria Excellent geographical location and easy accessibility via air, railway and road conn
Slide 11: VIE: CO₂ neutrality and energy efficiency as key corporate priorities
VIE: CO₂ neutrality and energy efficiency as key corporate priorities ✈ Our objective: VIE will be CO₂ neutral in just a few years thanks to comprehensive sustainability management Further improvement of energy efficiency thanks to smart airport city software, CO₂-free energy supply and reduction
Slide 12: Vienna Airport – This is what we have already achieved
Vienna Airport – This is what we have already achieved: ✈ Vienna Airport has reduced its total energy consumption by more than 40% (per traffic unit) since 2011 ✈ CO₂ reduction (since 2011) of about 70% (per traffic unit) ✈ Reduction of flight traffic burden: new model for noise charges ✈ Effective
Slide 13: Climate protection is a global issue – worldwide aviation initiatives
Climate protection is a global issue – worldwide aviation initiatives ✈ Airports Council International Europe: resolution signed by 200 airports to be CO₂ neutral by 2050 ✈ Status of Vienna Airport: certified for ACAS Level 3 - further reduction of CO₂ emissions and involvement of companies at the s
Slide 14: Positive outlook for 2019: Significant planned rise in earnings and investments
Positive outlook for 2019: Significant planned rise in earnings and investments Outlook 2019 Revenue > € 830 million EBITDA > € 375 million Group net profit1 > € 170 million Net debt < € 150 million CAPEX ~ € 200 million 1) Before non-controlling interests 14
Slide 15: Segment Results Q1-3/2019
SEGMENT RESULTS Q1-3/2019 15
Slide 16: Airport: Higher EBITDA and EBIT due to passenger record
Airport: Higher EBITDA and EBIT due to passenger record ✈ Surge in growth at Vienna Airport in € million Q1-3/2019 Q1-3/2018 Δ in % continues: 24.0 million passengers (+19.5%) in Q1-3/2019 External revenue 310.1 285.6 +8.6 EBITDA 155.9 146.8 +6.2 ✈ Further growth in flight movements EBIT 94.1 87.2 +
Slide 17: Handling & Security Services: Stable revenue
Handling & Security Services: Stable revenue ✈ Contractual adjustments and lower de- Δ in in € million Q1-3/2019 Q1-3/2018 icing revenue could be offset by flight % traffic handling and new customers External revenue 122.2 120.8 +1.1 EBITDA 11.5 13.9 -17.1 ✈ Positive impact on passenger handling: ne
Slide 18: Retail & Properties: Strong growth
Retail & Properties: Strong growth ✈ New business area bundling competencies in Δ in in € million Q1-3/2019 Q1-3/2018 the “Center Management & Hospitality“ % includes Shopping & Gastro and is External revenue 120.6 106.8 +12.8 complemented by results from Advertising, VIP & Lounges (Passenger Servic
Slide 19: Malta: Earnings rise related to strong passenger growth
Malta: Earnings rise related to strong passenger growth ✈ Ongoing growth: 5.6 million Δ in passengers, +6.5% passenger in € million Q1-3/2019 Q1-3/2018 % growth in the first nine months of External revenue 77.3 70.8 +9.2 2019 EBITDA 49.9 43.4 +15.0 ✈ Substantial revenue growth: Airport as well as Re
Slide 20: Results of strategic investments
Results of strategic investments Malta Int. Airport Airport Košice Q1-3/2019 Q1-3/2019 ✈ Approx. 5.6 million PAX (+6.5%) ✈ Approx. 0.5 million PAX (+5.5%) 2018 2018 ✈ About 6.8 million PAX (+13.2%) ✈ About 0.5 million PAX (+9.1%) ✈ Revenue: € 92.2 million ✈ Revenue: € 13.3 million ✈ EBITDA: € 54.4 m
Slide 21: Overview of terminal development
Overview of terminal development Opening of southern extension in 2023 Cost cap of € 500 million for all projects ✈ Renovation of Terminal 2 Creation of a central security checkpoint and expansion of baggage claim area Status: construction work has been started and is on schedule ✈ Renovation of
Slide 22: Traffic Results Q1-3/2019
TRAFFIC RESULTS Q1-3/2019 22
Slide 23: Traffic development Q1-3/2019 Flughafen Wien Group
Traffic development Q1-3/2019 Flughafen Wien Group Group passenger development Q1-3/2019 Q1-3/2018 Δ in % Vienna Airport (millions) 24.0 20.1 +19.5 Malta Airport (millions) 5.6 5.3 +6.5 Kosice Airport (millions) 0.5 0.4 +5.5 Vienna Airport and its strategic 30.1 25.8 +16.6 investments (VIE, MLA, KSC
Slide 24: Shares of scheduled airlines
Shares of scheduled airlines Q1-3/2019 Share in % Passengers PAX Δ vs. Q1-3/2018 1. Austrian Airlines 43.5 10,431,029 +6.6 2. Lauda 7.8 1,865,383 n.a. 3. Eurowings 7.4 1,773,857 -8.2 4. Wizz Air 6.5 1,545,302 n.a. 5. easyJet1 3.9 929,883 -4.6 6. Lufthansa 2.3 553,167 -19.9 7. Level 2.1 511,173 n.a.
Slide 25: Traffic development at Vienna Airport October 2019
Traffic development at Vienna Airport October 2019 Oct./2019 Oct./2018 Δ in % Passengers (millions) 2.8 2.6 +10.2 Local passengers (millions) 2.1 1.9 +9.9 Transfer passengers (millions) 0.7 0.7 +11.4 Flight movements (in 1,000) 23.6 22.7 +3.8 MTOW (millions of tonnes) 964.7 899.0 +7.3 Seat load fact
Slide 26: Highlights 2019
Highlights 2019 17 new destinations 5 new airlines LCC 2019 highlights (summer flight schedule (incl. charter)) thereof 3 new long-haul routes: • Air Arabia • Eurowings: 32 destinations • Toyko-Haneda, • Air Canada • Lauda: 31 destinations • Ürümqi/Guangzhou • ANA • Wizz Air: 31 destinations • Montr
Slide 27: Traffic forecast for 2019
Traffic forecast for 2019 Flughafen Wien Group 2018 Forecast 2019 >10% Passengers 34.4 million (about 38 million) Flughafen Wien AG: 2018 Forecast 2019 >10% Passengers 27.0 million (over 31 million) ✈ Strong passenger growth continues uninterruptedly in 2019 ✈ VIE: Share of low cost carriers up
Slide 28: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 28