Flughafen Wien AG (0RHU) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

gave also an outlook for 2026. So if we go to the first slide, you see the headlines. We had a rise in our revenue of 7.2%, which reflects a very good business performance and in all division and in all our daughter companies we had positive contributions to earnings. Saying that we have to remind you that the project of the third runway was abandoned and out of that we have roughly 55.9 million of assets that are now removed from our balance sheet and therefore net income EBITDA are negatively affected. So net income is down from 239 to 210. And as you can see in these figures, it was possible by a better operating performance to offset half of this negative effect. So it was only relative to the expectation 26 million that are now offset and 29 million that came through to the net income. As these The recognition of assets is a one-off effect and has no cash impact. We decided to keep the dividend stable and the proposal is to pay €1.65 as it was the case in 2024. That equals a payout ratio of 75%, which is above our dividend guidance so far, but I think is justified given that we had a very good development of the business overall. If we go more into the details, you see that the financial result was again positive in 2025. We had less as it was in 24, so from 15.5 to 11.1. This is reflecting the fact of lower interest rates and we foresee that our net cash position will be substantially reduced in 2026 as we have a new record high in regard of capex and investments of 330 million. What is Interesting is that we see a growing contribution of Malta Airport to our group net profit. So roughly one fourth in million 49.8 are coming already from Malta operation. If we look at the development of our costs, you see that consumers and services used, especially energy, was...