EQS-News: Flughafen Wien AG in the first half of 2024: Increase in passenger volume, revenue and earnings
EQS-News: Flughafen Wien AG in the first half of 2024: Increase in passenger volume, revenue and earnings
EQS-News: Flughafen Wien AG / Key word(s): Half Year Results/Quarterly / Interim
Statement
Flughafen Wien AG in the first half of 2024: Increase in passenger volume,
revenue and earnings
20.08.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Flughafen Wien AG in the first half of 2024: Increase in passenger volume,
revenue and earnings
• Strong passenger growth in H1/2024: 18.7 million passengers in the Flughafen
Wien Group (+10.1%)
• Financial performance indicators in H1/2024: Revenue up 14.1% to € 488.4
million, EBITDA rise of 15.5% to € 204.9 million, EBIT increase of 23.2% to
€ 138.7 million, significant Group net profit improvement of 31.1% to €
108.4 million
• Continuation of good passenger development in July 2024: New all-time high
passenger volume in July 2024 above the pre-crisis level of July 2019, with
4.4 million passengers in the Flughafen Wien Group (+7.7%) and 3.3 million
at Vienna Airport (+5.7%) – 26 July 2024 recorded 115,989 passengers, the
highest for a single day in Vienna Airport’s history
• Slightly improved passenger guidance for 2024: Higher expected passenger
traffic of more than 39 million passengers in the Flughafen Wien Group (more
30 million at Vienna Airport). Financial guidance of revenue surpassing € 1
billion, EBITDA of more than € 400 million and a Group net profit exceeding
€ 220 million.
“Flughafen Wien AG reports a significant revenue and earnings increase –
Expansion of electricity grids and storage facilities is necessary”
“Flughafen Wien AG once again reports a significant revenue and earnings
increase. In the first half of 2024, the Group net profit rose by 31% to € 108
million, and revenue climbed 14% to € 488 million. In 2024, Vienna Airport is
also making heavy, counter-cyclical investments of more than € 200 million. Work
on the Southern Expansion terminal project is in full swing, and construction of
a new hotel will already begin in September. Starting at the end of August, all
customers will also have a quick, 350 KW electric charging station available to
them at the airport at favourable rates. It will also use solar power from the
airport’s own photovoltaic power generating capacities. More and more frequent
negative electricity prices make it necessary to expand electricity grids and
improve the regulatory environment for setting up battery storage systems.
Supply problems will dramatically increase if appropriate measures are not
quickly implemented,” states Dr. Günther Ofner, joint CEO and CFO of Flughafen
Wien AG.
“July saw two new passenger records in Vienna Airport’s history – surpassing the
pre-crisis level”
“We are flying from record to record: The first half-year already developed very
well, with passenger growth of 7.9% in Vienna and 10.1% in the Flughafen Wien
Group, but summer passenger traffic is really taking off. Featuring more than
3.3 million passengers, we recorded the strongest month ever, with 5% more
passengers than before the coronavirus pandemic. On July 26th we also achieved a
new all-time high for a single day with 115,989 travellers. For this reason, we
are very optimistic with respect to the entire year 2024, and expect more than
39 million passengers in the Flughafen Wien Group and in excess of 30 million at
Vienna Airport. Despite very busy European airspace and currently regularly over
100,000 passengers a day, we were able to maintain the travel experience at a
very high level thanks to the tireless efforts of our employees and I would like
to sincerely thank all colleagues involved in our business operations. With the
new Southern Expansion terminal project, we are now taking the next leap in
quality into the top league of international airports. On around 70,000 m², we
are creating more lounge, dining and shopping areas for our travelers, as well
as new lounges and additional security checkpoints. Construction work is in full
swing and we look forward to putting the Southern Expansion into operation in
2027,” says Mag. Julian Jäger, joint CEO and COO of Flughafen Wien AG.
January to June 2024: 14.4 million passengers at Vienna Airport
Passenger traffic at Vienna Airport showed a considerable increase in the first
half of 2024 compared to the first half of 2023. From January to June 2024, the
Flughafen Wien Group (Vienna Airport and the international strategic investments
in Malta Airport and Kosice Airport) reported a 10.1% rise in passenger traffic
in the period to a total of 18,721,110 travellers. Vienna Airport registered an
increase in the number of passengers it handled to 14,386,331 (+7.9%). The
number of flight movements climbed to 109,692 starts and landings in the period
January to June 2024. The average seat load factor in the first six months of
the year equalled 78.4%, a minimal decline of 0.1 percentage points from the
prior-year level. Cargo volume (air cargo and trucking) showed a significant
increase, climbing 17.3% to 141,118 tonnes. Malta Airport reported a strong rise
in passenger traffic to 4,065,414 travellers in H1/2024 (+18.4%). Kosice Airport
handled 269,365 passengers, up 9.4% from the prior-year month. Both of Flughafen
Wien AG’s foreign strategic investments recorded higher passenger volumes over
the last months than in the comparable period of 2019.
H1/2024: Substantial revenue increase to € 488.4 million (+ 14.1%) and rise in
the Group net profit to € 108.4 million (+31.1%)
In H1/2024, the Flughafen Wien Group generated revenue of € 488.4 million,
comprising a year-on-year increase of 14.1%. EBITDA rose to € 204.9 million
compared to the prior-year figure in H1/2023, whereas EBIT climbed to € 138.7
million. The Group net profit before non-controlling interests rose to € 108.4
million in H1/2024. This significant earnings growth can be attributed to the
good operating development and a clearly positive financial result related to
the elimination of debt and higher interest income. The cash flow from operating
activities totalled € 178.3 million (H1/2023: € 197.9 million).
Revenue and earnings development in the segments
H1/2024 revenue of the Airport Segment climbed from the prior-year period to €
233.9 million, and segment EBIT improved to € 58.4 million. The Handling and
Security Services Segment registered higher revenue of € 85.2 million compared
to H1/2023, whereas segment EBIT was clearly positive at € 2.3 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 in H1/2024 to € 93.7 million. EBIT of this segment climbed to € 40.3
million. Revenue of the Malta Segment was up to € 64.4 million in H1/2024
compared to the prior-year period. Segment EBIT amounted to € 33.2 million.
Capital expenditure
A total of € 83.1 million was invested in intangible assets and property, plant
and equipment as well as investment property or advance payments in the first
six months of 2024 (H1/2023: € 28.7 million). The largest investment projects at
Vienna Airport included € 33.5 million for the Southern Expansion terminal
project. A total of € 28.2 million was invested at Malta Airport in the first
six months of 2024.
Forecast for passenger development in 2024: More than 39 million passengers
expected in the Flughafen Wien Group and more than 30 million at Vienna Airport
The remaining months in 2024 will see a further upward development of passenger
volumes. More than 30 million passengers are expected at Vienna Airport in the
entire year 2024 and in excess of 39 million in the Flughafen Wien Group
(including the international strategic investments).
Financial guidance 2024
The Flughafen Wien Group expects total revenue to surpass € 1 billion by the end
of the year, as well as EBITDA of over € 400 million and a Group net profit for
the year before non-controlling interests of at least € 220 million. Total
investments are anticipated to surpass the level of € 200 million. The current
passenger and financial guidance is based on the assumption that there will not
be any additional adverse geopolitical effects or massive restrictions on flight
traffic.
Traffic development in July 2024: New record passenger volume at Vienna Airport
Flughafen Wien Group: 4.4 million passengers in July 2024
In July 2024, the Flughafen Wien Group (Vienna Airport, Malta Airport and Kosice
Airport) reported a strong rise in passenger traffic to 4,406,820 travellers
(+7.7% vs. July 2023).
Vienna Airport: 3.3 million passengers in July 2024 – strongest month and record
single-day passenger traffic in the airport’s history
Passenger volume at Vienna Airport in the month of July 2024 improved compared
to the previous year, with the number of passengers up to a total of 3,324,096
travellers (+5.7%), or 5.1% higher than the pre-crisis level of July 2019. This
represents a new record passenger volume in the 70-year history of Vienna
Airport. On average, the airport welcomed 107,000 passengers each day in July,
and a new all-time high for a single day was registered on 26 July 2024, with
115,989 travellers.
Traffic results in detail
The number of local passengers at Vienna Airport in July 2024 climbed 5.9% from
the previous year to 2,535,667 travellers, whereas transfer passenger traffic
rose 4.8% to 777,358. The number of flight movements in July 2024 rose to 22,829
(+4.8% vs. July 2023). Cargo volume at Vienna Airport was up 24.8% from the
prior-year to 25,647 tonnes vs. the prior-year month.
The total number of passengers at Vienna Airport flying to destinations in
Western Europe in July 2024 climbed to 1,130,160 (+6.0% from July 2023), whereas
Eastern European traffic in July 2024 rose to 311,606 passengers (+5.2%).
Passenger traffic to North America equalled 60,257 travellers, up 10.9% from the
prior-year month, and the number of passengers flying to Africa increased to
34,963 (+15.6%). Passenger volume to the Middle East totalled 94,055 travellers
in July 2024 (-12.6%), and the number of passengers flying to East Asian
destinations climbed to 56,611 (+20.4%).
The international strategic investments of the Flughafen Wien Group also
developed very well. Malta Airport recorded strong year-on-year growth in
passenger volume to 951,861 travellers (+12.2%) in the month of July 2024,
already 19.2% above the pre-crisis level of 2019. Kosice Airport reported an
increase of 35.1% from July 2023 to 130,863 passengers, showing a significant
rise of 36.1% from the pre-crisis year of 2019.
Cumulative passenger traffic in the period January to July 2024: +7.5% at Vienna
Airport and +9.6% in the Flughafen Wien Group
Total passenger traffic at Vienna Airport from January to July 2024 rose 7.5% to
a cumulative figure of 17,710,427 travellers, corresponding to 99.3% of the
pre-crisis level of 2019. Cargo volume at Vienna Airport was up 18.4% in the
period January-July 2024. The Flughafen Wien Group (Vienna Airport, Malta
Airport and Kosice Airport) reported a 9.6% rise in passenger volume to
23,127,930 travellers in the first seven months of 2024.
Details on traffic results can be found in the table below.
Traffic development July 2024
Vienna Airport (VIE)
07/2024 Diff. % 2023 01-07/2024 Diff. % 2023
Passengers arr+dep+transit 3,324,096 +5.7 17,710,427 +7.5
Local passengers arr+dep 2,535,667 +5.9 13,822,264 +8.9
Transfer passengers arr+dep 777,358 +4.8 3,831,396 +2.5
Flight movements arr+dep 22,829 +4.8 132,521 +6.0
Cargo arr+dep (in tonnes) 25,647 +24.8 166,765 +18.4
MTOW (in tonnes) 976,752 +7.2 5,676,915 +8.6
Malta Airport (MLA, fully consolidated)
07/2024 Diff. % 2023 01-07/2024 Diff. % 2023
Passengers arr+dep+transit 951,861 +12.2 5,017,275 +17.1
Local passengers arr+dep 950,900 +12.5 5,009,701 +17.4
Transfer passengers arr+dep 958 -71.9 7,520 -56.8
Flight movements arr+dep 6,054 +14.1 33,176 +15.8
Cargo arr+dep (in tonnes) 1,977 +40.3 12,349 +16.3
MTOW (in tonnes) 230,423 +12.2 1,285,994 +15.0
Kosice Airport (KSC, consolidated at equity)
07/2024 Diff. % 2023 01-07/2024 Diff. % 2023
Passengers arr+dep+transit 130,863 +35.1 400,228 +16.7
Local passengers arr+dep 130,863 +35.1 400,228 +16.7
Transfer passengers arr+dep 0 n.a. 0 n.a.
Flight movements arr+dep 894 +41.2 3,143 +22.3
Cargo arr+dep (in tonnes) 0 > 500 2 > 500
MTOW (in tonnes) 29,461 +34.7 95,565 +14.1
Vienna Airport and strategic investments (VIE, MLA, KSC)
07/2024 Diff. % 2023 01-07/2024 Diff. % 2023
Passengers arr+dep+transit 4,406,820 +7.7 23,127,930 +9.6
Local passengers arr+dep 3,617,430 +8.4 19,232,193 +11.2
Transfer passengers arr+dep 778,316 +4.4 3,838,916 +2.2
Flight movements arr+dep 29,777 +7.4 168,840 +8.0
Cargo arr+dep (in tonnes) 27,625 +25.8 179,117 +18.3
MTOW (in tonnes) 1,236,636 +8.7 7,058,474 +9.8
Note: Total number of passengers includes local, transfer and transit
passengers,
Traffic data adjusted.
Consolidated Income Statement
in € million H1/2024 H1/2023
Revenue 488.4 428.1
Other operating income 7.2 5.5
Operating income 495.6 433.6
Expenses for consumables and purchased services -26.9 -28.9
Personnel expenses -189.6 -167.8
Other operating expenses -74.6 -57.6
Reversals of impairment/impairment on receivables 0.2 -2.2
Pro rata results of companies recorded at equity 0.1 0.2
Earnings before interest, taxes, depreciation and amortisation
(EBITDA) 204.9 177.4
Depreciation and amortisation -66.2 -64.8
Earnings before interest and taxes (EBIT) 138.7 112.6
Income from investments, excluding companies recorded at equity 0.8 0.4
Interest income 7.8 5.4
Interes expense -1.3 -6.2
Other financial result 1.3 0.5
Financial result 8.5 0.1
Earnings before taxes (EBT) 147.2 112.7
Income taxes -38.8 -30.0
Net profit for the period 108.4 82.7
Thereof attributable to:
Equity holders of the parent 97.3 74.0
Non-controlling interests 11.1 8.7
Earnings per share
(in €, basic = diluted) 1.16 0.88
Balance Sheet Indicators
in € million 30.06.2024 31.12.2023
ASSETS:
Non-current assets 1,680.5 1,662.7
Current assets 536.3 531.7
EQUITY & LIABILITIES:
Equity 1,544.6 1,556.4
Non-current liabilities 292.4 292.6
Current liabilities 379.8 345.4
Total assets 2,216.8 2,194.4
Net liquidity 349.1 361.9
Cash Flow Statement
in € million H1/2024 H1/2023
Net cash flow from operating activities 178.3 197.9
Investing activities -74.1 -152.3
Financing activities -118.9 -98.7
Free cash flow 104.1 45.6
CAPEX^1 83.1 28.7
1. Excluding financial assets
The Annual Report and Financial Report of Flughafen Wien AG for 2024 from
January 1 to June 30, will be available to the general public on the Internet at
http://viennaairport.com/en/company/investor_relations/publications_and_reports.
Vienna Airport, 20th of August 2024 The Management Board
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.
Contact: Corporate Communications of Flughafen Wien AG
Investor Relations
Bernd Maurer
Tel.: (+43-1-) 7007-23126
E-Mail: b.maurer@viennaairport.com
Press Office
Peter Kleemann
Tel.: (+43-1-) 7007-23000
E-Mail: [1]p.kleemann@viennaairport.com
Website: [2] www.viennaairport.com
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20.08.2024 CET/CEST 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: 1970863
End of News EQS News Service
1970863 20.08.2024 CET/CEST
References
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