coco pa ympany preseese tat ontation results 3rd quarter 2009...50% as of 1.7.2010 and 100% as of...

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Company Presentation Results 3 rd Quarter 2009 Flughafen Wien AG -1- November 2009

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Page 1: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Company PresentationCo pa y ese tat oResults 3rd Quarter 2009

Flughafen Wien AG g

- 1 -November 2009

Page 2: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

1-9/2009 – Overview

Total revenue 1-9/2009: EUR 374.4 mill. - 10.4%

EBITDA 1-9/2009: EUR 132.6 mill. - 19.2%

EBIT 1-9/2009: EUR 82.8 mill. - 26.6%

Net profit EUR 60 8 mill 28 3%Net profit : EUR 60.8 mill. - 28.3% after minority interests

Passengers: - 10.3% g %(European average: - 7.4%*)

- 2 -* Source: ACI (Rapid Data Exchange Program 2009 01-09)

Page 3: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Financial Results 1-9/2009

EUR mill. 1-9/2009 1-9/2008 Change in %

Revenues 374.4 418.0 - 10.4 Other income 10.6 7.6 + 39.9Operating income 385.0 425.6 - 9.5 Operating expenses (excl. depreciation) 252.4 261.4 - 3.4 ( p )EBITDA 132.6 164.2 - 19.2 Depreciation 49.8 51.4 - 3.0 EBIT 82.8 112.8 - 26.6 Fi i l lt 3 7 3 5 4 3Financial results -3.7 -3.5 + 4.3EBT 79.1 109.3 - 27.6 Taxes 18.3 24.5 - 25.4 Minority interest 0.0 0.0 + 16.7Minority interest 0.0 0.0 16.7

Net profit after minority interest 60.8 84.7 - 28.3 EBT

- 3 -

Page 4: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Financial Results 1-9/2009Revenue by Segment

Retail & PropertiesEUR 66.0 mill.

- 6.6%Handling

EUR 128.2 mill.- 10.2%

34.3 %17.6 %

3.2 %Other Segments

44.9%EUR 11.9 Mio.

+ 0.2%Revenue structure without Handling

68.2%26.8%

5.0% AirportEUR 167 9 Mio

- 4 -

EUR 167.9 Mio.- 12.6%

Page 5: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Financial Results 1-9/2009Financial Indicators

in % 1-9/2009 1-9/2008

EBIT Margin 22.1 27.0

EBITDA Margin 35.4 39.3g

Gearing per 30.9. 74.6 58.0

- 5 -

Page 6: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Capex 2009 - 2013Incl. replacement investments and maintenance – without 3rd runway and purchase of land

in EUR millin EUR mill.Terminals 493.2Apron, runways 24.9Construction on the core zone 23.3Security 54.9Parking 26.8Parking 26.8Cargo bulidings 31.1Commercial projects 4.4Replacement investments and maintanance 100.9Other investments 60.5Total capex 2009 - 2013 820.0

- 6 -

Page 7: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

I EUR illCapex 2009 - 2013

In EUR mill. Capex2009 - 2013: EUR 820.0 mill.346.1

229.0Incl. replacement investments and maintenance – without 3rd runway and purchase of

154.7

y pland

41 0 49.141.0

- 7 -

2009 2010 2011 2012 2013

Page 8: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Traffic Results 1-9/2009Passengers:13,732,465 (- 10.3%)

Transfer passengers:4,154,666 (- 10.0%)

Flight movements:183,783 (- 9.8%)

MTOW (in tonnes):5,445,848 (-8.6%)

Cargo incl. trucking (in tonnes):176,243 (- 12.5%)

- 8 -

( )

Page 9: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Traffic Results 1-9/20091-9/2009 Passengers - Detail

Total passengers -10.3%

Growth Middle East +5.4%

P E t E 17 0%Passengers – Eastern Europe - 17.0%

Passengers – Low-cost carriers -9.5%

Share of passengers - Low-cost carriers 23.4%

- 9 -

Page 10: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Traffic Results 1-9/2009Ai li h f

1 9/2009 1 9/2008

Airlines – share of passengers

in % 1-9/2009 1-9/2008

OS-Group 49.4 49.8Niki 9.3 6.8Air Berlin 7.1 6.5Lufthansa 5.6 5.1SkyEurope 3.5 6.3S y u ope 3 5 6 3Germanwings 2.1 2.5Swiss 1.9 1.5British Airways 1 8 1 6British Airways 1.8 1.6Air France 1.6 1.5Turkish Airlines 1.2 1.0

- 10 -

Others 16.4 17.5

Page 11: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Traffic Results 01-10/2009

1-9/2009 October 2009 1-10/2009 Forecast

Passengers 13,732,465 1,640,677 15,373,142Passengers 13,732,465 1,640,677 15,373,142

Change in % -10.3 -2.9 -9.6 -9

MTOW (t) 5,445,848 632,058 6,077,906

Change in % -8.6 -5.8 -8.3 -8

Movements 183,783 20,990 204,773

Ch i % 9 8 8 2 9 6 8 Change in. % -9.8 -8.2 -9.6 -8

Cargo incl. Trucking (t) 176,243 25,984 202,227

Change in % -12.5 +4.0 -10.6g %

- 11 -

Page 12: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Long-Term Forecast 1999 - 2020Total passengersin mill.

Upper Trendline

Lower Trendline

- 12 -

Page 13: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Vienna International AirportKey advantages support the hub function

Key advantages

1. Location

Key advantages

2. Quality

3. Capacity

4. Tariffs and incentives

- 13 -

Page 14: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

1.1 Catchment area

Approx. 14.3 million people live in the catchment area

CountryFlights per

residentGDP growth

in %Country resident2007

in % 2008 e.

Austria 2.51 2.0%Czech Rep. 1.09 4.0%Croatia 0.84 3.8%Hungary 0.79 1.9%Slovenia 0.65 4.3%Slovakia 0.35 7.4%Catchment area:

- 14 -Sources: IMF and European Commission

EU (total) 1.4%The hub airport that can bereached in the shortest time

Page 15: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

1.2 Geographical location

Time saved with flights to/from Vienna vs. Munich Airport

atio

n

DME `00:25hVNO `01:20h

an in

form

aan

sa

MSQ `01:35h

WAW `00:25h

e fli

ght p

laan

d Lu

fthKBP `00:25h

ROV `01:30hBUD `00 40h

rce:

Onl

ine

m A

ustri

an ROV 01:30hBUD 00:40h

OTP `00:30h

BEG `00:20h

SJJ `00:25h

ZAG `00:20h

- 15 -

Sou

rfro

mTBS `00:30h

EVN`00:35h

SOF `00:25hSJJ 00 5

Page 16: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

1.3 Markets

Eur

ope

Eas

tern

Efli

ghts

to

A an

d LH

- 16 -Source: OAG, week 46, as of 12.01.2008

OS focus regions

AU

LH & OS LH OS

Eastern EuropeLH focus regions

Page 17: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

1.4 Positioning of the airport in Eastern EuropeHigh frequencies, maximum destinations

xcl.

Eka

terin

burg

ovem

ber 2

008,

ex

Sou

rce.

OA

G, N

o

- 17 -Highest number of East European destinations in comparison

Page 18: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

2.1 VIE‘s top quality standards

25-minute minimum connecting time:

Airport MCT Airport MCT

Munich 30 - 35 min Amsterdam 50 min

ght G

uide

Zurich 40 min Brussels 50 min

Copenhagen 45 min Paris 60 - 90 min urce

: OA

G F

lig

Short routes & comfortable transfers for passengers

Frankfurt 45 min London 45 - 90 min

Sou

Short routes & comfortable transfers for passengers

“One-roof concept“

- 18 -

Outstanding turnaround time (A320: ~40 minutes)

Page 19: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

3.1 Non-aviation

T i l i Sk li k

First-class service and comfort

Terminal expansion Skylink:

Substantial increase in gastronomy and shopping areas

D i Additi l

Available space 2008

Decrease in space with opening Skylink

Additional space Skylink

Total space with opening Skylink

Additional space in T2 and Pier West

Total space

Shops /Shops /gastronomy 11,000 m2 - 1,500 m2 9,600 m2 19,100 m2 2,500 m2 21,600 m2

Expansion of car park 4 (+2 268 spaces) completed in June 2008

Parking

- 19 -

Expansion of car park 4 (+2,268 spaces) completed in June 2008

Page 20: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

3.2 Third runway project

Name: 11R/29L

2 400m

Name: 11R/29LLength: 3,680 metresWidth: 60 metres

2.400mTaxiways: ~ 27.5 kmCategory: CAT III

- 20 -

Page 21: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

4.1 Competitive tariffs and attractive incentivesB h h E *Better than the European average*

- 21 -* All airlines, all fees, including incentives

Source: VIE; August 2009

Page 22: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

4.1 Competitive tariffs and attractive incentives

Change in tariff regulation as of 1.1.2009Increase of 0 72% in landing parking and airside infrastructure tariffsIncrease of 0.72% in landing, parking and airside infrastructure tariffs

Increase of 0.38% in passenger tariff and landside infrastructure tariffs

Change in tariff regulation as of 1.7.2009Introduction of noise tariffs – currently no charge; 50% as of 1.7.2010 and 100% as of 1.7.2011

- 22 -

Page 23: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

4.2 VIE‘s attractive incentive scheme

TRANSFER INCENTIVE SCHEME:T t t f d th ti il bl t VIE

…our offer to the airlines

To support transfers and the connections available at VIEThe transfer incentive currently equals € 10.21 for each departing transfer passenger

GROWTH INCENTIVE SCHEME:GROWTH INCENTIVE SCHEME:Increase in destinations and frequencies to expand the position of VIE as a hub between

Western and Eastern Europe and between Europe and Asia, and North America

High Frequency Incentive High Frequency IncentiveEastern Europe*20% for 7, 30% for 14 or 40% for 21 weekly frequencies

High Frequency IncentiveIntercontinental*20% for 3, 30% for 5, 40% for 7,45% for 10 or 50% for 14

Frequency incentive*60% in the first year

Destination incentive*80% in the first year

40% for 21 weekly frequenciesweekly frequencies

- 23 -

y40% in the second year

y60% in the second year40% in the third year

* Incentives are based on the landing tariff

Page 24: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

International Investments

Kosice Airport

303,123 passengers 1-9/2009 (-37.8%)Revenue 1-9/2009: EUR 9.5 millionResults for the period 1-9/2009: EUR 2.2 million

Malta International Airport

2 3 Mio passengers 1 9/2009 ( 8 2%)2.3 Mio passengers 1-9/2009 (-8.2%)Revenue 1-9/2009: EUR 36.2 millionResults for the period 1-9/2009: EUR 7.7 million

Friedrichshafen Airport

458 384 passengers 1 9/2009 ( 11 8%)

- 24 -

458,384 passengers 1-9/2009 (-11.8%)Revenue 1-9/2009: EUR 7.3 millionResults for the period 1-9/2009: EUR -1.6 million

Page 25: CoCo pa ympany Preseese tat ontation Results 3rd Quarter 2009...50% as of 1.7.2010 and 100% as of 1.7.2011-22-4.2 VIE‘s attractive incentive scheme TRANSFER INCENTIVE SCHEME: ÓTttfdth

Company PresentationCo pa y ese tat oResults 3rd Quarter 2009

Flughafen Wien AG g

- 25 -November 2009