company presentation flughafen wien ag...lufthansa 5.9 5.5 skyeurope 4.2 6.5 germanwings 2.3 2.7...
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Company Presentation Flughafen Wien AG
- 1 -August 2009
1-6/2009 – Overview
Total revenue 1-6/2009: EUR 244.6 mill. - 10.3%
EBITDA 1-6/2009: EUR 80.1 mill. - 23.3%
EBIT 1-6/2009: EUR 46.7 mill. - 33.2%
Net profit EUR 34 1 mill 32 4%Net profit : EUR 34.1 mill. - 32.4% after minority interests
Passengers: - 12.7% g %(European average: - 9.3%*)
- 2 -* Source: ACI (Rapid Data Exchange Program 2009 01-06)
Financial Results 1-6/2009
EUR mill. 1-6/2009 1-6/2008 Change in %
Revenues 244.6 272.7 - 10.3Other income 6.4 5.0 + 27.7 Operating income 251.0 277.7 - 9.6 Operating expenses 170 8 173 2 1 4g(excl. depreciation) - 170.8 -173.2 - 1.4
EBITDA 80.1 104.4 - 23.3 Depreciation -33.4 - 34.5 - 3.2 EBIT 46.7 69.9 - 33.2Financial results - 2.4 - 3.2 - 26.3 EBT 44.3 66.6 - 33.5 Taxes - 10.2 - 16.2 - 37.1Minority interest 0.0 0.0 - 21.0
Net profit after minority interest 34.1 50.5 - 32.4
- 3 -
p yEBT
Financial Results 1-6/2009Revenue by Segment
Retail & PropertiesEUR 43.7 mill.
- 5.8%Handling
EUR 86.3 mill.- 8.7%
35.3 %17.9 %
3.2 %Other Segments
43.6%EUR 7.9 Mio.
- 4.3%Revenue structure without Handling
67.4%27.6%
5.0% AirportEUR 106 5 Mio
- 4 -
EUR 106.5 Mio.- 13.7%
Financial Results 1-6/2009
in EUR mill. 1-6/2009 1-6/2008 Change i %
Summary of Operating Expenses
in %Consumables and services used 18.9 20.8 - 9.2
Personnel expenses 107.6 108.7 - 1.0
Depreciation 33.4 34.5 - 3.2
Other operating expenses 44.4 43.7 + 1.4
Total operating expenses 204.3 207.8 - 1.7 EBT
- 5 -
Financial Results 1-6/2009Segment Reportingin EUR mill. 1-6/2009 1-6/2008 Change in %
Airport p
External segment revenue 106.5 123.4 - 13.7
Segment EBIT 35.8 49.7 - 27.9
EBITDA Margin in % 44.0 50.0 n.a.g
Handling
External segment revenue 86.3 94.5 - 8.7
Segment EBIT 5.9 9.6 - 38.8g
EBITDA Margin in % 9.6 12.7 n.a.
Retail & Properties
External segment revenue 43.7 46.4 - 5.8
Segment EBIT 20.8 23.2 - 10.4
EBITDA Margin in % 54,0 56.4 n.a.
Sonstige Segment
- 6 -
External segment revenue 7.9 8.2 - 4.3
Segment EBIT - 2.2 - 0.1 n.a.
EBITDA Margin in % n.a. n.a. n.a.
Financial Results 1-9/2009Financial Indicators
in % 1-6/2009 1-6/2008
EBIT Margin 19,1 25,6
EBITDA Margin 32,8 38,3a g 3 ,8 38,3
Gearing 80,1 53,8
- 7 -
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
- 8 -
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
- 9 -
2009 2010 2011 2012 2013
Traffic Results 1-6/2009Passengers:8,432,747 (- 12.7%)
Transfer passengers:2,518,900 (- 13.7%)
Flight movements:119,351 (- 10.4%)
MTOW (in tonnes):3,494,214 (-9.8%)
Cargo incl. trucking (in tonnes):113,770 (- 15.0%)
- 10 -
( )
Traffic Results 1-6/20091-6/2009 Passengers - Detail
Total passengers -12.7%
Growth Middle East +1.6%
P E t E 18 9%Passengers – Eastern Europe - 18.9%
Passengers – Low-cost carriers -10.2%
Share of passengers - Low-cost carriers 23.9 %
- 11 -
Traffic Results 1-6/2009Ai li h f
in % 1-6/2009 1-6/2008
Airlines – share of passengers
in % OS-Group 48.7 49.4Niki 9.0 6.3Ai B li 7 3 6 7Air Berlin 7.3 6.7Lufthansa 5.9 5.5SkyEurope 4.2 6.5Germanwings 2.3 2.7Swiss 2.0 1.6British Airways 1 8 1 5British Airways 1.8 1.5Air France 1.7 1.5KLM Royal Dutch Airlines 1.1 1.0
- 12 -
Others 15.9 17.4
Traffic Results 1-6/2009
Positioning of the airport in Eastern Europe
High frequencies, maximum destinations
p
xcl.
Eka
terin
burg
ovem
ber 2
008,
ex
Sou
rce.
OA
G, N
o
- 13 -Highest number of East European destinations in comparison
Traffic Results 01-07/2009
1-6/2009 July 2009 1-7/2009 Forecast
Passengers 8 432 747 1 826 599 10 259 346Passengers 8,432,747 1,826,599 10,259,346
Change in % -12.7 -5.2 -11.4 -9
MTOW (t) 3,494,214 671,716 4,165,930
Change in % -9.8 -4.7 -9.0 -8
Movements 119,351 22,255 141,606
Change in. % -10.4 -6.8 -9.8 -8
Cargo incl. Trucking (t) 113,770 19,898 133,669
Ch i % 15 0 8 6 14 1 Change in % -15.0 -8.6 -14.1
- 14 -
Long-Term Forecast 1999 - 2020
- 15 -
Vienna International AirportKey advantages support the hub function
Key advantages
1. Location
Key advantages
2. Quality
3. Capacity
4. Tariffs and incentives
- 16 -
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:
- 17 -Sources: IMF and European Commission
EU (total) 1.4%The hub airport that can bereached in the shortest time
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
- 18 -
Sou
rfro
mTBS `00:30h
EVN`00:35h
SOF `00:25hSJJ 00 5
1.3 Markets
AU
A annd LH flighhts to E
asstern Europe
- 19 -Source: OAG, week 46, as of 12.01.2008 OS focus regionsLH & OS LH OS
Eastern EuropeLH focus regions
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
- 20 -Highest number of East European destinations in comparison
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“
- 21 -
Outstanding turnaround time (A320: ~40 minutes)
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
Available space 2007
Decrease in space with opening Skylink
Additional space Skylink
Total space with opening Skylink
Additional space in T2 and Pier West
Total space
Skylink WestShops / 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
- 22 -
Expansion of car park 4 (+2,268 spaces) completed in June 2008
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
- 23 -
4.1 Competitive tariffs and attractive incentivesB h h E *Better than the European average*
12
64%69%CPH
MADRank Airport Index
Aver
age
109876543
94%93%84%82%81%77%77%76%
TXLVIE
MLAMXPBRUKLUZRHGVA
1716-151413121110
103%102%100%100%99%97%96%95%94%
MUCPRGAverDUSBTSSTRBUDAMSTXL
252423222120191817
119%113%112%109%109%106%105%103%103%
KSCINNLNZ
HAMWA
GRZCGNSZGMUC
302928272625
136%131%129%119%119%119%
-€ 250 € 0 € 250 € 500 € 750 € 1,000 € 1,250 € 1,500 € 1,750 € 2,000 € 2,250 € 2,500ATHLHRCDGFRAHAJKSC
€ pro Turnaround
- 24 -* All airlines, all fees, including incentives
Source: VIE; June 2008
Landing Tariff Infrastructure Tariff Parking Tariff Passenger Tariff
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
- 25 -
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 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
Frequency incentive Frequency incentiveEast European flights*20% for 7, 30% for 14 or 40% for 21 weekly frequencies
Frequency incentiveIntercontinental flights20% 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
- 26 -
y40% in the second year
y60% in the second year40% in the third year
* Incentives are based on the landing tariff
International Investments
Kosice Airport
/ ( %)174,910 passengers 1-6/2009 (-33.9%)Revenue 1-6/2009: EUR 5.6 million Results for the period 1-6/2009: EUR 1.1 million
Malta International Airport
1 25 mill passengers 1 6/2009 ( 10 9%)1.25 mill passengers 1-6/2009 (-10.9%)Revenue 1-6/2009: EUR 20.4 million Results for the period 1-6/2009: EUR 2.9 million
Friedrichshafen Airport
286 766 passengers 1 6/2009 ( 9 1%)
- 27 -
286,766 passengers 1-6/2009 (-9.1%)Revenue 1-6/2009: EUR 4.7 millionResults for the period 1-6/2009: EUR - 1.3 million
Company Presentation Flughafen Wien AG
- 28 -August 2009