15.11.2016, 24657 Zeichen

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quarterly report
Flughafen Wien Group Maintains Upward Trend: Passenger Growth and Strong Earnings Improvement in the First Nine Months of 2016
REVENUE increase to EUR 545.4 million (+10.2%), EBITDA rise to EUR 306.5 million (+13.1% or EUR 254.7 million clean i.e. adjusted for upward revaluation of stake in Malta Airport), EBIT of EUR 208.7 million (clean: + 25.7% or EUR 156.9 million)\nNET PROFIT FOR THE PERIOD* up considerably to EUR 150.6 million (clean rise of 17.1% to EUR 98.8 million)\nNET DEBT further reduced to EUR 370.8 million (down EUR 95.2 million from the end of 2015) - 2016 target already achieved\nIncrease in the free cash flow to EUR 206.8 million (+48.7% from EUR 139.1 million in Q1-3/2015)\nPositive guidance confirmed for 2016: increase in revenue to EUR 725 million, EBITDA to EUR 310 million and the net profit for the period before non-controlling interests clean i.e. adjusted for Malta revaluation to EUR 115 million\nTraffic guidance for 2016 for the Vienna Airport site also confirmed: passenger growth at the upper end of the projected range between 0% and 2%\nOctober 2016: +6.5% passenger increase, +4.8% rise in cargo volume at Vienna Airport\nProfit for the period attributable to the parent company\n"The Flughafen Wien Group is continuing its upward trend. All relevant financial performance indicators could be significantly improved in three economically strong quarters, featuring increases in revenue, EBITDA and the net profit for the period. Thanks to the consistent reduction of net debt, the 2016 target below the EUR 400 million mark has already been reached. The outlook is positive, and we expect to achieve our financial objectives for the entire year
2016. The Vienna Airport site is thriving, and the development of the Airport City is contributing greatly to this. Twelve companies have already decided to locate their operations at the flight hub, creating about 600 additional jobs", explains Günther Ofner, Member of the Management Board of Flughafen Wien AG.

"In spite of crisis-related challenges, 2016 has been a record year for some individual destinations. Following the month of July, the strongest in terms of passenger volume (2,431,583 passengers), and the busiest day of the year in September (89,361 passengers), the 17.7 million passengers handled by Vienna Airport in the first nine months of 2016 comprises a new passenger record in the airport's history. The month of October, which showed a 6.5% rise in the number of passengers, also developed very well, and we expect total passenger volume in 2016 to be at the upper end of the projected range between 0% and 2%. There are already new developments in the flight offering for 2017, with the addition of Los Angeles, the Seychelles and other destinations", states Julian Jäger, Member of the Management Board of Flughafen Wien AG.
Traffic development in Q1-3/2016: Flughafen Wien Group handles 21.9 million passengers
Flughafen Wien Group including its foreign strategic investments in Malta Airport and Košice Airport handled 21.9 million passengers in the period January to September 2016, representing a 2.2% increase in passenger volume compared to the previous year.
Vienna Airport: 1.1% passenger growth in the first nine months of 2016
Vienna Airport reported a new passenger record in the airport's history, handling a total of 17,677,012 travellers from January to September 2016, a rise of 1.1% from the prior-year period. The number of local passengers was up 2.9% in the first nine months of 2016, whereas the number of transfer passengers fell by 3.4%. Passenger volume to Western Europe climbed by 2.0%, in contrast to the 2.2% drop in the number of passengers flying to Eastern European destinations as a consequence of the economic situation in Russia and capacity reductions by the airlines. Far Eastern destinations showed 1.3% growth in passenger volume, and the number of passengers to the Middle East rose by 4.1%. The total number of passengers flying to North America was up 3.2%. In contrast, passenger volume to Africa decreased by 19.0% due to the politically unstable situation in North African regions.
The number of flight movements fell 0.9% in the period January to September 2016 to 171,502 starts and landings. The average seat occupancy (seat load factor) in the first nine months of 2016 equalled 73.6%, down from the comparable level of 74.7% in Q1-3/2015. In contrast, cargo volume (air cargo and trucking) increased by 5.0% in the same period to 208,830 tonnes.
Good traffic results and business development at Malta and Košice Airports
The foreign strategic investments of the Flughafen Wien Group in Malta and Košice Airports continued to develop well. Malta Airport reported growth of 7.5% to reach a volume of 3,894,040 passengers in the first nine months of 2016. The most important markets for Malta Airport were Great Britain, Italy and Germany. Košice Airport handled a total of 346,563 passengers in the same period, comprising a rise of 5.5% in a year-on-year comparison.
Significant improvement of financial performance indicators in Q1-3/2016
Revenue of the Flughafen Wien Group in the first nine months of 2016 rose 10.2% to EUR 545.4 million. In addition to the positive passenger development and higher income in the Handling Segment, the increase in revenue is mainly attributable to the full consolidation of Malta Airport as of the second quarter of 2016. With the conclusion of the transaction in which Flughafen Wien AG increased its shareholding in Malta Airport and the formal closing on March 30, 2016, the stake was subject to a revaluation and fully consolidated in the consolidated financial statements of the Flughafen Wien Group starting at the end of the first quarter of 2016.
Increase of 17.1% in clean net profit for the period* in Q1-3/2016
EBITDA improved to EUR 306.5 million (+36.1%), whereas EBIT was up to EUR 208.7 million (+67.2%) and the net profit for the period after non-controlling interests rose 78.5% to EUR 150.6 million. Adjusted for the one-off effect relating to the upward valuation of the stake in Malta Airport, clean EBITDA totalled EUR 254.7 million (+13.1% vs. the adjusted Q1-3/2015 of EUR 225.2 million), and clean EBIT amounted to EUR 156.9 million (+25.7% vs. the adjusted Q1-3/2015 of EUR 124.8 million). Adjusted for this one-off effect, the clean net profit of the period of the parent company in Q1-3/2016 improved to EUR 98.8 million (+17.1% vs. Q1-3/2015 of EUR 84.4 million). Net debt was reduced once again to EUR 370.8 million. The free cash flow rose to EUR 206.8 million (up 48.7% from EUR 139.1 million in Q1-3/2015).
* Profit for the period attributable to the parent company

Revenue and earnings development in the segments
Revenue of the Airport Segment climbed 3.1% in Q1-3/2016 from the prior-year period to EUR 281.5 million. Segment EBIT improved by 34.4% to EUR 70.8 million (Q1-3/2015: EUR 52.7 million). The Handling Segment showed a 2.6% increase in revenue to EUR 116.6 million, and segment EBIT was up 5.2% to EUR 12.4 million (Q1-3/2015: EUR 11.8 million.). This includes the security services provided by VIAS as well as the handling services of Vienna Aircraft Handling (VAH). The Retail & Properties Segment reported a revenue decrease of 5.3% in the first nine months of 2016 to EUR 91.7 million. This decline is mainly due to the lower rental income relating to a special effect of a finance lease agreement in conjunction with the acquisition of Hermione, as well as the restrained development of parking and retail revenue. EBIT of the Retail and Properties Segment amounted to EUR 45.7 million (-2.9% from EUR 47.1 million in Q1-3/2015). The development of revenue in the Other Segments was stable, dropping slightly by 0.1% to EUR 11.7 million (Q1-3/2015: EUR 11.7 million). Segment EBIT showed a disproportionately high increase to EUR 58.0 million as a result of the revaluation of the stake held in Malta Airport. With the closing of the transaction on March 30, 2016, the strategic investment in Malta Airport now belongs to the group of companies which are fully consolidated in the consolidated financial statements of the Flughafen Wien Group. For this reason, these business results are reported as the new Malta Segment as of the second quarter of 2016. Revenue of the Malta Segment amounted to EUR 43.9 million in the second and third quarters of 2016, and the segment's EBIT totalled EUR 21.8 million.
Investments
Of the total investments (excluding business acquisitions) amounting to EUR 69.0 million in the first nine months of 2016, EUR 23.9 million related to investments in the Runway System 11/29 (runway modernisation), EUR 8.0 million was for investments in connection with the 3rd Runway and EUR 2.4 million involved the renovation of an operations building. Total investments in the year 2016 are expected to be about EUR 95 million (excluding the business acquisition in Malta Airport). The following values were added to the consolidated balance sheet as of March 30, 2016 on a provisional basis from the acquisition of Group companies in connection with Malta Airport: EUR 61.3 million for goodwill, EUR 0.9 million for intangible assets and EUR 363.8 million for property, plant and equipment and investment property.
Traffic development in October 2016:
Flughafen Wien Group reports passenger volume of 2.7 million (+7.2%), accumulated passenger growth of 2.8% in the period January to October 2016
In October 2016, Flughafen Wien AG including its strategic foreign investments in Malta and Kosice Airports handled a total of 2.7 million passengers, comprising an increase of 7.2% from October 2015. The accumulated passenger volume for the Flughafen Wien Group rose 2.8% to 24.6 million in the period January to October 2016.
Vienna Airport in October 2016: 6.5% increase in number of passengers, 4.8% rise in cargo volume
The number of passengers handled by Vienna Airport in the month of October 2016 climbed 6.5% from the previous year to 2,166,810 passengers. The number of local passengers climbed by 7.5% and the number of transfer passengers increased by 4.2%. The number of flight movements at Vienna Airport increased by 1.7% in October 2016. Vienna Airport reported a growth in cargo volume of 4.8% compared to October 2015.
The number of passengers at Vienna Airport flying to destinations in Western Europe was up 8.3% and passenger traffic to Eastern European rose by 6.4%. Passenger volume to the Far East climbed 1.1% in October 2016 and the number of passengers travelling to destinations in the Middle East rose by the 9.8%. Passenger volume to North America climbed 6.2% and passenger growth to Africa was 3.2%.
The number of passengers handled by Malta Airport rose 10.4% in October 2016, and passenger volume at Košice Airport was up 6.1%.
Presentation of traffic results
Following the increase of the stake held by Flughafen Wien AG in Malta Airport at the end of March 2016, the strategic investment is fully consolidated in the interim consolidated financial statements of the Flughafen Wien Group beginning at the end of the first quarter of 2016. For this reason, the entire traffic results for Flughafen Wien AG and its foreign strategic investments have been included in the monthly reports since April 2016. The traffic results for Vienna Airport correspond to the comparable values of the monthly announcements of traffic results up to and including the month of March 2016.
Results in detail: Traffic development in October 2016:
______________________________________________________________________________ | | | |January-October| | |______________|_October_2016__|__Change_in_%__|_____2016______|__Change_in_%__| |Vienna_Airport_(VIE)__________________________________________________________| |Passengers____|______2,166,810|___________+6.5|_____19,843,778|___________+1.7| |Local | | | | | |passengers____|______1,545,460|___________+7.5|_____14,398,502|___________+3.4| |Transfer | | | | | |passengers____|________612,500|___________+4.2|______5,362,546|___________-2.6| |Flight | | | | | |movements | | | | | |(arrivals and | | | | | |departures)___|_________20,349|___________+1.7|________191,851|___________-0.6| |Cargo in tons | | | | | |(air cargo and| | | | | |trucking)_____|_________27,029|___________+4.8|________235,833|___________+4.9| |Malta_Airport_(MLA,_fully_consolidated)_______________________________________| |Passengers____|________512,739|__________+10.4|______4,406,779|___________+7.8| |Local | | | | | |passengers____|________511,713|__________+10.8|______4,398,379|___________+8.0| |Transfer | | | | | |passengers____|__________1,026|__________-63.7|__________8,400|__________-43.8| |Flight | | | | | |movements | | | | | |(arrivals and | | | | | |departures)___|__________3,466|___________+3.2|_________30,951|___________+2.5| |Cargo in tons | | | | | |(air cargo and| | | | | |trucking)_____|__________1,363|___________-1.2|_________11,495|___________-3.8| |Kosice_Airport_(KSC,_consolidated_at_equity)__________________________________| |Passengers____|_________31,437|___________+6.1|________378,000|___________+5.6| |Local | | | | | |passengers____|_________31,437|___________+6.1|________378,000|___________+5.6| |Transfer | | | | | |passengers____|______________-|______________-|______________-|______________-| |Flight | | | | | |movements | | | | | |(arrivals and | | | | | |departures)___|____________653|__________-19.6|__________8,120|__________+12.4| |Cargo in tons | | | | | |(air cargo and| | | | | |trucking)_____|______________5|__________-78.8|_____________80|__________-59.7| |_Vienna_Airport_and_strategic_investments_(VIE,_MLA,_KSC)_____________________| |Passengers____|______2,710,986|___________+7.2|_____24,628,557|___________+2.8| |Local | | | | | |passengers____|______2,088,610|___________+8.3|_____19,174,881|___________+4.4| |Transfer | | | | | |passengers____|________613,526|___________+3.9|______5,370,946|___________-2.7| |Flight | | | | | |movements | | | | | |(arrivals and | | | | | |departures)___|_________24,468|___________+1.2|________230,922|___________+0.2| |Cargo in tons | | | | | |(air cargo and| | | | | |trucking)_____|_________28,397|___________+4.4|________247,407|___________+4.4|

Consolidated Interim Financial Statements as of 30 September 2016
______________________________________________________________________________ |in_EUR_million____|__________Q1-3/2016|_________Q1-3/2015*|________Change_in_%| |Revenue___________|______________545.4|______________495.1|______________+10.2| |Other operating | | | | |income____________|________________9.0|________________7.0|______________+29.7| |Other operating | | | | |income____________|______________554.4|______________502.1|______________+10.4| |__________________|___________________|___________________|___________________| |Consumables and | | | | |services_used_____|______________-24.4|______________-25.5|_______________-4.3| |Personnel_expenses|_____________-198.4|_____________-191.1|_______________+3.8| |Other operating | | | | |expenses__________|______________-80.5|______________-66.9|______________+20.2| |Proportional share| | | | |of income from | | | | |companies recorded| | | | |at_equity_________|________________3.5|________________6.7|______________-47.9| |Revaluation of | | | | |companies recorded| | | | |at equity due to | | | | |company | | | | |acquisitions______|_______________51.8|__________________-|_______________n.a.| |Earnings before | | | | |interest, taxes, | | | | |depreciation and | | | | |amortisation | | | | |(EBITDA)__________|______________306.5|______________225.2|______________+36.1| |Scheduled | | | | |depreciation and | | | | |amortisation______|_____________-101.7|_____________-100.4|_______________+1.4| |Reversal of | | | | |impairment________|________________3.9|__________________-|_______________n.a.| |Earnings before | | | | |interest and taxes| | | | |(EBIT)____________|______________208.7|______________124.8|______________+67.2| |__________________|___________________|___________________|___________________| |Income from | | | | |investments, | | | | |excluding | | | | |investments | | | | |recorded_at_equity|________________0.7|________________0.3|_____________+151.1| |Interest_income___|________________2.5|________________1.5|______________+71.7| |Interest_expense__|______________-16.6|______________-16.8|_______________-1.5| |Other financial | | | | |result____________|__________________-|_______________-0.1|_____________-100.0| |Financial_result__|______________-13.4|______________-15.2|______________-11.9| |__________________|___________________|___________________|___________________| |Earnings before | | | | |taxes_(EBT)_______|______________195.3|______________109.6|______________+78.2| |__________________|___________________|___________________|___________________| |Income_taxes______|______________-37.2|______________-25.3|______________+47.1| |Net profit for the| | | | |period____________|______________158.1|_______________84.4|______________+87.5| |__________________|___________________|___________________|___________________| |Thereof | | |attributable_to:__|___________________________________________________________| |Equity holders of | | | | |the_parent________|______________150.6|_______________84.4|______________+78.5| |Non-controlling | | | | |interests_________|________________7.5|_______________-0.0|_______________n.a.| |__________________|___________________|___________________|___________________| |Earnings per share| | | | |(in EUR, basic = | | | | |diluted)__________|_______________1.79|_______________1.01|______________+78.5|
* adjusted for at-equity results

Balance Sheet Indicators
______________________________________________________________________________ |in_EUR_million____|___________30.9.016|_________31.12.2015|________Change_in_%| |ASSETS:___________|___________________|___________________|___________________| |Non-current_assets|____________2,079.3|____________1,748.6|______________+18.9| |Current_assets____|______________170.9|______________161.1|_______________+6.1| |__________________|___________________|___________________|___________________| |LIABILITIES:______|___________________|___________________|___________________| |Equity____________|____________1,254.2|____________1,020.0|______________+23.0| |Non-current | | | | |liabilities_______|______________702.3|______________579.1|______________+21.3| |Current | | | | |liabilities_______|______________293.8|______________310.6|_______________-5.4| |__________________|___________________|___________________|___________________| |Total equity and | | | | |liabilities_______|____________2,250.2|____________1,909.7|______________+17.8| |__________________|___________________|___________________|___________________| |Net_debt__________|______________370.8|______________466.0|______________-20.4| |Gearing_(in%)_____|_______________29.6|_______________45.7|____________-16.1p%|

Cash Flow Statement
______________________________________________________________________________ |in_EUR_million____|__________Q1-3/2016|__________Q1-3/2015|________Change_in_%| |Net cash flow from| | | | |operating | | | | |activities________|______________209.8|______________186.6|______________+12.4| | investing | | | | |activities________|_______________-2.9|______________-47.5|______________-93.9| | financing | | | | |activities________|_____________-139.3|______________-78.2|______________+78.1| |__________________|___________________|___________________|___________________| |Free_cash_flow____|______________206.8|______________139.1|______________+48.7| |__________________|___________________|___________________|___________________| |CAPEX*____________|_______________69.0|_______________45.0|______________+53.3|
* Excluding financial assets and business acquisitions

The report by Flughafen Wien AG for the first six months of 2016, from January 1 to September 30, 2016, is available to the general public at the company's offices at 1300 Flughafen Wien and at Bank Austria, 1010 Vienna, Schottengasse 6-8. It is also available on the Internet at http://viennaairport.com/en/ company/investor_relations/publications_and_reports/quarterly_reports
The Management Board of Flughafen Wien AG
Vienna Airport, November 15, 2016


end of announcement euro adhoc
company: Flughafen Wien AG Postfach 1 A-1300 Wien-Flughafen phone: +43 1 7007 - 22826 FAX: +43 1 7007 - 23806

mail: investor-relations@viennaairport.com WWW: http://viennaairport.com/unternehmen/investor_relations
sector: Transport ISIN: AT00000VIE62 indexes: ATX Prime stockmarkets: official market: Wien language: English

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