EQS-News: Flughafen Wien AG / Key word(s): Quarter Results
Flughafen Wien AG: Q1/2022: Significant increase in passenger numbers and pleasing
improvement in earnings with positive result for the period of € 6.7 million – strong
summer season expected

19.05.2022 / 08:00
The issuer is solely responsible for the content of this announcement.

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Flughafen Wien AG in Q1/2022: Significant increase in passenger numbers and pleasing
improvement in earnings with positive result for the period of € 6.7 million – strong
summer season expected

– Q1/2022: significant improvement in the Group vs. 2021 to 3.7 million passengers –
corresponds to about half the comparable level of 2019

– Financial performance indicators for Q1/2022: revenue almost doubled to € 110.9
million and a positive net profit for the period of € 6.7 million, substantial
improvements in EBITDA and EBIT vs. 2021

– April 2022: 2.3 million passengers in the Flughafen Wien Group – close to eight
times the level of April 2021 – 1.8 million passengers at Vienna Airport

– Guidance: about 21 million passengers expected in the Flughafen Wien Group and
approx. 17 million at Vienna Airport as well as revenue of € 560 million, EBITDA of at
least € 172 million and a consolidated net profit of at least € 20 million. To the
extent that passenger development exceeds expectations in the months ahead, a
significant improvement of business results could take place. A revised projection is
expected no later than at the time of the half-year results.

– Vienna Airport sets a milestone for climate protection: Austria’s largest
photovoltaic facility starts producing electricity at the airport today – 55,000 solar
panels on 24 hectares supply more than 30 million KW of solar power per hour

“Growth in revenue and earnings and a milestone for climate protection”
“The desire on the part of Austrians to travel is more pronounced than ever before and
is also reflected in rising passenger volumes at Vienna Airport and a substantial
growth in revenue and earnings in the first quarter of 2022. A continued
outperformance of passenger traffic could lead to a substantial improvement of
business results for the entire 2022 financial year compared to previous expectations.
It is still difficult to predict further developments in Ukraine and the further
course of the coronavirus pandemic. The ongoing war is massively disrupting flight
traffic, and we are deeply saddened by the tragic effects of the war on the
population. In any case, in order to make Austria’s energy policy less dependent on
such developments and also to achieve the defined climate targets, it is urgently
necessary to quickly facilitate the approvals process for major infrastructure
projects. Vienna Airport is setting a milestone today for climate protection in
Austria. Today Austria’s largest photovoltaic facility with 24 hectares starts
producing electricity” states Günther Ofner, Member of the Management Board of
Flughafen Wien AG.

“Passengers and airlines are returning – Extensive offering of destinations in the
summer”
“After two very tough years, the aviation sector is recovering again and both
passengers and airlines are returning. We registered six times as many passengers in
the period January to April 2022 as in the previous year, and this upward trend is
continuing. At present we are handling about 65% of the passenger volume of 2019. The
number of passengers will rise significantly in the summer months. The offering of
flight destinations is almost the same as the pre-crisis level and we anticipate
passenger volumes to further increase. We are well prepared thanks to the newly
designed Terminal 2, expanded security checks and new shopping and restaurant
offerings. It is still difficult to predict how the autumn season and the fourth
quarter will develop, and the ongoing traffic events in Ukraine are also impacting
international aviation. We hope for a return to peace in the region soon and, in any
case, support aid measures for the affected population together with our colleagues at
our strategic foreign investment in Kosice Airport,” says Julian Jäger, Member of the
Management Board of Flughafen Wien AG.

January to March 2022: 2.9 million passengers at Vienna Airport
In the first quarter of 2022, the Flughafen Wien Group including the foreign strategic
investments in Malta Airport and Kosice Airport reported a significant increase in
passenger traffic compared to the first quarter of 2021 which was shaped by the
coronavirus pandemic and the correspondingly low level of passenger traffic. The
number of passengers handled by the Flughafen Wien Group rose by 440.4% year-on-year
to 3,660,347 travellers. The number of passengers at Vienna Airport was up to
2,933,472 travellers (+412.2%). The number of flight movements from January to March
2022 was up to 30,329 starts and landings. The average capacity utilisation of the
aircraft (seat load factor) in the first quarter of 2022 rose from 49.4% in the
prior-year period to 62.4% (vs. 70.7% in Q1/2019). Cargo volume (air cargo and
trucking) at Vienna Airport increased by 2.0% from the previous year to 61,030 tonnes.
Malta Airport registered an increase to 672,965 travellers (+>500%). Kosice Airport
also showed passenger growth, handling 53,910 passengers (+>500%).

Q1/2022: Revenue nearly doubled to € 110.9 million (+ 92.9%) and rise in net profit to
€ 6.7 million
Revenue of the Flughafen Wien Group in Q1/2022 amounted to € 110.9 million, comprising
an increase of 92.9% from the previous year. EBITDA was up year-on-year to € 46.3
million and EBIT climbed to € 12.4 million. The net profit for the period before
non-controlling interests, supported by income from a property sale, increased to €
6.7 million in Q1/2022. The net debt of the company declined to € 145.4 million (31
December 2021: € 150.4 million). The free cash flow in Q1/2022 amounted to minus €
58.8 million (Q1/2021: minus € 28.8 million).

Revenue and earnings development of the segments
Q1/2022 revenue of the Airport Segment increased from the prior-year quarter to € 49.0
million, and segment EBIT improved to minus € 7.2 million. The Handling and Security
Services Segment registered a rise in revenue to € 25.2 million, with the segment’s
EBIT up to € 0.9 million. This segment also includes the security services of VIAS as
well as the handling services provided by Vienna Aircraft Handling (VAH) and Vienna
Passenger Handling Services (VPHS). The Retail & Properties Segment reported a rise in
revenue to € 21.9 million in Q1/2022 and is thus 30.8% above the previous year’s
level. EBIT of this segment improved to € 15.0 million. Revenue of the Malta Segment
was up to € 10.8 million Q1/2022, whereas segment EBIT totalled € 1.1 million. Revenue
of the Other Segments totalled € 4.0 million in Q1/2022 and segment EBIT amounted to €
2.5 million.

Investments
In the first three months of 2022, a total of € 10.1 million (Q1/2021. € 6.3 million)
was invested in intangible assets, property, plant and equipment as well as investment
property or paid as advance payments. The largest investment projects at Vienna
Airport included € 1.8 million for photovoltaicfacilities, € 1.3 million in connection
with the central IT backup and € 1.1 million for the exit/entry system in the
terminal. A total of € 1.2 million was invested at Malta Airport in the first quarter
of 2022.

Guidance 2022
The Flughafen Wien Group expects about 17 million passengers at Vienna Airport in the
entire year 2022 and a total of approx. 21 million travellers in the Flughafen Wien
Group (including the foreign strategic investments). Moreover, the Flughafen Wien
Group expects to generate revenue of about € 560 million in the 2022 financial year
along with a positive EBITDA of at least € 172 million and a positive consolidated net
profit of at least € 20 million. The company’s net debt will likely fall to a level
below € 50 million. Investments will equal approx. € 84 million. A continued
outperformance of passenger traffic compared to the budgeted figures would positively
impact business results, especially the cash flow, EBITDA and net profit. It is still
difficult to predict further developments in Ukraine and the further course of the
coronavirus pandemic. A revised guidance for the entire 2022 financial year is to be
expected no later than at the time of publication of the half-year results for 2022.

Traffic results in April 2022: perceptible upward trend before the summer season

Flughafen Wien Group: 2.3 million passengers in April 2022
In April 2022, the Flughafen Wien Group (Vienna Airport, Malta Airport and Kosice
Airport) reported a total of 2,338,303 travellers (+>500% vs. April 2021). This still
represents a decline of 31.8% from the pre-crisis level of April 2019.

Vienna Airport: 1.8 million passengers in April 2022
Passenger volume at Vienna Airport in the month of April 2022 strongly improved
compared to the previous year, with the number of passengers up to a total of
1,790,275 travellers (+>500%). Nevertheless, passenger volume was still 34.8% lower
than the pre-crisis level of April 2019.

Traffic results in detail
The number of local passengers at Vienna Airport in April 2022 increased year-on-year
to 1,370,980 (+>500%), whereas the number of transfer passengers rose to 408.858
(+356.3%). Flight movements were up to 15,174 in April 2022 (+202.9% vs. April 2021).
The air cargo business reported 21,934 tonnes, down only 6.8% from the pre-crisis
level of April 2019.

The total number of passengers at Vienna Airport flying to destinations in Western
Europe in April 2022 climbed to 638,354 (+>500%), whereas Eastern European traffic
rose to 139,358 (+344.4%) vs. 2021. Passenger traffic to North America was up from the
prior-year level to 22,637 (+>500%), and the number of passengers flying to Africa
increased to 22,479 (+>500%) vs. 2021. Passenger volumes to the Middle East rose to
54,764 (+>500%), and the number of passengers flying to Far Eastern destinations
climbed to 12,128 in April 2022 (+417.0%) vs. 2021.

Malta Airport reported an increase in passenger volume in the month of April 2022 to
513,979 (+>500%), whereas the total number of passengers handled by Kosice Airport
rose to 34,049 (+>500%) vs. 2021.

Details on traffic results for April 2022 can be found in the table below.

Disclaimer
All statements made in this press release that refer to future developments of
Flughafen Wien AG/Flughafen-Wien-Group are based on current assumptions and forecasts
of the management. If the premises for these forecasts do not occur or risks indicated
in the risk report arise, actual results may vary from these estimates. Despite the
utmost care, all forward-looking statements are therefore made without guarantee and
Flughafen Wien AG/Flughafen-Wien-Group assumes no obligation to update these
forward-looking statements or to conform them to future events or developments.

Traffic Development April 2022

Vienna Airport (VIE)            
             
  04/2022 04/2021 04/2019 01-04/2022 Diff. % Diff. %
2021 2019
Passengers arr+dep+transit 1,790,275 269,127 2,744,184 4,723,747 +461.1 -46.3
Local passengers arr+dep 1,370,980 177,654 2,094,419 3,721,039 +>500 -45.9
Transfer passengers arr+dep 408,858 89,600 624,270 979,444 +327.4 -47.4
Flight movements arr+dep 15,174 5,009 22,842 45,503 +195.0 -42.5
Cargo arr+dep (in tonnes) 21,934 21,803 23,535 82,963 +1.6 -8.0
MTOW (in tonnes) 640,276 238,737 943,168 1,949,013 +165.3 -40.0
             
Malta Airport (MLA, fully consolidated)        
             
  04/2022 04/2021 04/2019 01-04/2022 Diff. % Diff. %
2021 2019
Passengers arr+dep+transit 513,979 39,392 653,258 1,186,944 +>500 -36.1
Local passengers arr+dep 512,819 39,346 647,740 1,184,865 +>500 -35.8
Transfer passengers arr+dep 1,160 42 5,518 2,072 +500 -81.0
Flight movements arr+dep 3,757 673 4,547 9,747 +335.9 -30.8
Cargo arr+dep (in tonnes) 1,248 1,082 1,334 4,711 -2.4 -10.3
MTOW (in tonnes) 144,084 23,560 170,669 374,667 +372.3 -29.7
             
Kosice Airport (KSC, consolidated at equity)        
             
  04/2022 04/2021 04/2019 01-04/2022 Diff. % Diff. %
2021 2019
Passengers arr+dep+transit 34,049 2,288 32,974 87,978 +>500 -24.8
Local passengers arr+dep 34,049 2,288 32,974 87,978 +>500 -24.6
Transfer passengers arr+dep 0 0 0 0 n.a. n.a.
Flight movements arr+dep 311 30 408 811 +>500 -46.6
Cargo arr+dep (in tonnes) 0 0 1 0 n.a. -100.0
MTOW (in tonnes) 9,865 1,083 9,182 26,078 +>500 -21.0
             
Vienna Airport and strategic investments (VIE, MLA, KSC)      
             
  04/2022 04/2021 04/2019 01-04/2022 Diff. % Diff. %
2021 2019
Passengers arr+dep+transit 2,338,303 310,807 3,430,416 5,998,669 +>500 -44.3
Local passengers arr+dep 1,917,848 219,288 2,775,133 4,993,882 +>500 -43.5
Transfer passengers arr+dep 410,018 89,642 629,788 981,516 +327.8 -47.6
Flight movements arr+dep 19,242 5,712 27,797 56,061 +215.6 -40.9
Cargo arr+dep (in tonnes) 23,182 22,886 24,870 87,674 +1.4 -8.1
MTOW (in tonnes) 794,225 263,380 1,123,019 2,349,758 +187.4 -38.4

Note: Total number of passengers includes local, transfer and transit passengers,
Traffic data adjusted.

Consolidated Income Statement

in € million Q1/2022 Q1/2021
Revenue 110.9 57.5
Other operating income 11.6 1.5
Operating income 122.5 59.0
     
Expenses for consumables and purchased services -10.7 -7.8
Personnel expenses -51.5 -39.1
Other operating expenses -13.5 -9.2
Impairment/reversals of impairments on receivables -0.3 0.0
Pro rata result of companies recorded at equity -0.3 -0.4
Earnings before interest, taxes, depreciation and amortisation
(EBITDA) 46.3 2.4
     
Depreciation and amortisation -33.9 -33.3
Earnings before interest and taxes (EBIT) 12.4 -30.9
     
Income from investments, excluding companies recorded at equity 0.0 0.0
Interest income 0.1 0.1
Interest expense -3.4 -3.9
Other financial result -0.0 0.2
Financial result -3.4 -3.6
     
Earnings before taxes (EBT) 9.0 -34.5
     
Income taxes -2.3 9.5
Net profit/loss for the period 6.7 -25.0
     
Thereof attributable to:    
Equity holders of the parent 6.5 -23.7
Non-controlling interests 0.2 -1.3
     
Earnings per share
(in €, basic = diluted) 0.08 -0.28

 

Balance Sheet Indicators

in € million 31.3.2022 31.12.2021
ASSETS:    
Non-current assets 1,737.1 1,761.3
Current assets 300.0 312.5
     
LIABILITIES:    
Equity 1,320.9 1,314.5
Non-current liabilities 497.7 501.4
Current liabilities 218.5 257.9
     
Total assets 2,037.1 2,073.8
     
Net debt^ 145.4 150.4
Gearing (in%) 11.0 11.4

 

Cash Flow Statement

in € million Q1/2022 Q1/2021
Net cash flow from operating activities 21.4 -11.3
investing activities -80.2 -17.5
financing activities -26.1 22.9
     
Free cash flow -58.8 -28.8
     
CAPEX ^1 10.1 6.3

 

1) Excluding financial assets

The report by Flughafen Wien AG for the first three months, from January 1 to March
31, 2022 is available to the general public at the company’s office at 1300 Flughafen
and at Bank Austria, 1020 Wien, Rothschildplatz 1. It is also available on the
Internet at
[1] http://www.viennaairport.com/en/company/investor_relations/publications_and_reports

Vienna Airport, 19 May 2022

The Management Board

Contact: Corporate Communications Flughafen Wien AG

Press Office
Peter Kleemann, Company Spokesman
Tel.: (+43-1-) 7007-23000
E-Mail: [2]p.kleemann@viennaairport.com
Website: [3] www.viennaairport.com
[4] www.facebook.com/flughafenwien

Investor Relations
Christian Schmidt
Tel.: (+43-1-) 7007-23126
E-mail: christian.schmidt@viennaairport.com

 

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19.05.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com

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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Austria
Phone: +43-1-7007/23126
Fax: +43-1-7007/23806
E-mail: investor-relations@viennaairport.com
Internet: http://www.viennaairport.com
ISIN: AT00000VIE62
WKN: A2AMK9
Indices: ATX PRIME
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt
(Basic Board), Munich, Stuttgart, Tradegate Exchange; London,
Nasdaq OTC, Vienna Stock Exchange (Official Market)
EQS News ID: 1356165

 
End of News EQS News Service

1356165  19.05.2022 

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