EQS-News: Flughafen Wien AG Reports a Positive First Quarter of 2024: Increase in passenger traffic, revenue and earnings

EQS-News: Flughafen Wien AG / Key word(s): Quarterly / Interim Statement
Flughafen Wien AG Reports a Positive First Quarter of 2024: Increase in
passenger traffic, revenue and earnings

16.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Flughafen Wien AG Reports a Positive First Quarter of 2024:

Increase in passenger traffic, revenue and earnings


• Strong passenger growth in Q1/2024: 7.6 million passengers in the Flughafen
Wien Group (+13.8%)


• Financial performance indicators in Q1/2024: Revenue up 16.6% to € 210.3
million and Group net profit for the period improvement to € 37.2 million
(+48.9%), EBITDA rise of 19.0% to € 79.5 million, and EBITDA increase of
33.6% to € 46.5 million


• April 2024: 3.4 million passengers in the Flughafen Wien Group – 2.6 million
passengers handled by Vienna Airport


• Guidance for 2024: 39 million passengers expected in the Flughafen Wien
Group and about 30 million at Vienna Airport, along with a slightly higher
financial guidance with revenue of over
€ 1 billion, EBITDA of more than € 400 million and a Group net profit of at
least € 220 million.


“Flughafen Wien AG is investing heavily in future growth – CAPEX of over € 200
million in 2024”

“The ongoing desire to travel, successful business location projects, a positive
financial result and a high level of cost discipline contributed to a
significant improvement in revenue and earnings of Flughafen Wien AG in Q1/2024.
We anticipate future growth, which is why we are making massive investments to
the amount of over € 200 million in 2024, a figure which will increase in the
coming years. As a debt-free company, we can finance these investments e.g., the
Southern Expansion terminal project, expansion of photovoltaic facilities by 13
MW and a fast electric charging station, from our own cash flow without
incurring any new debt. Innovative business location projects such as Enpulsion,
an Austrian company producing satellite propulsion engines, and the European
Space Agency, are pointing the right way into the future,” states an optimistic
Dr. Günther Ofner, joint CEO and CFO of Flughafen Wien AG.


“Extensive offering of destinations and flights should trigger a strong summer
travel season“

“The first quarter of the year went extremely well. The desire to travel
continued unabated in the first three months of this year. The increased
passenger traffic of 11.0% at Vienna Airport and 13.8% in the Flughafen Wien
Group is significantly driving revenue and earnings development. The extensive
offering of destinations and flights should result in a strong summer travel
season. The upcoming Whitsun weekend is a good indicator of this. We expect
about 360,000 passengers in the period from 18^th to 20^th of May. We are well
positioned in terms of our flight operations, and our airport team is in full
action to ensure that we offer travellers the best quality of service. The new
Southern Expansion Terminal project will provide a major boost for an even
better airport experience. Construction work is already in fully swing. Starting
in 2027, we will make more leisure areas and an extended shopping and
gastronomical offering available to passengers over 70,000 m², along with new
lounges, more security checkpoints and many other additional features,” says
Mag. Julian Jäger, joint CEO and COO of Flughafen Wien AG.


January to March 2024: 5.9 million passengers at Vienna Airport – 7.6 million
passengers in the Flughafen Wien Group

Passenger traffic at Vienna Airport increased in the first quarter of 2024
compared to the first quarter of 2023. From January to March 2024, the Flughafen
Wien Group (Vienna Airport and the international strategic investments Malta
Airport and Kosice Airport) reported a rise in passenger traffic in the period
January-March 2024 to a total of 7,580,972 travellers, comprising a rise of
13.8%. Vienna Airport registered an increase in the number of passengers it
handled to 5,910,251 (+11.0%). The number of flight movements climbed to 46,294
take-offs and landings in the period January to March 2024. The average seat
load factor in the first three months of the year equalled 76.5%, comprising a
further increase of 0.9 percentage points from the prior-year level. Cargo
volume (air cargo and trucking) climbed 15.6% to 68,058 tonnes. Passenger
traffic at Malta Airport amounted to 1,573,712 travellers in Q1/2024 (+26.3%).
Kosice Airport showed a 6.5% increase to 97,009 passengers. Both of Flughafen
Wien AG’s foreign strategic investments recorded higher passenger volumes over
the last months than in the comparable period of 2023.


Q1/2024: Strong revenue increase to € 210.3 million (+ 16.6%) and increase in
the Group net profit to € 37.2 million

In Q1/2024, the Flughafen Wien Group generated revenue of € 210.3 million,
comprising a year-on-year increase of 16.6%. EBITDA rose to € 79.5 million
compared to the previous year, whereas EBIT climbed to € 46.5 million. The net
profit for the period before non-controlling interests rose to € 37.2 million in
Q1/2024. The cash flow from operating activities totalled € 68.2 million
(Q1/2023: € 89.6 million), taking into account earlier payments made for
incentives compared to the previous year.


Revenue and earnings development in the segments

Q1/2024 revenue of the Airport Segment climbed from the prior-year period to €
98.0 million, and segment EBIT improved to € 18.6 million. The Handling and
Security Services Segment registered higher revenue of € 39.7 million compared
to Q1/2023, whereas segment EBIT equalled minus € 0.3 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 Q1/2024 to € 41.4
million. EBIT of this segment climbed to € 16.2 million. Revenue of the Malta
Segment was up to € 25.7 million in Q1/2024 compared to the prior-year period.
Segment EBIT totalled € 10.8 million.


Capital expenditure
A total of €34.9 million was invested in intangible assets and property, plant
and equipment as well as investment property in the first three months of 2024
(Q1/2023: € 15.2 million). The largest investment projects at Vienna Airport
included € 12.3 million for the Southern Expansion project. A total of € 15.6
million was invested at Malta Airport in the first three months of 2024.


Forecast for passenger development in 2024: Approx. 39 million passengers
expected in the Flughafen Wien Group and about 30 million at Vienna Airport

2024 will see a further upward development of passenger volumes. About 30
million passengers are expected at Vienna Airport in the entire year 2024 and
approx. 39 million in the Flughafen Wien Group (including Malta and Kosice

Slightly improved financial guidance 2024

The Flughafen Wien Group expects total revenue to amount to more than € 1.0
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 expected 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 April 2024: The upward trend continues


Flughafen Wien Group: 3.4 million passengers in April 2024

In April 2024, the Flughafen Wien Group (Vienna Airport, Malta Airport and
Kosice Airport) reported a  rise in passenger traffic to 3,423,209 travellers
(+6.5% vs. April 2023).


Vienna Airport: 2.6 million passengers in April 2024

Passenger volume at Vienna Airport in the month of April 2024 also improved
compared to the previous year, with the number of passengers up to a total of
2,610,171 travellers (+5.9%).


Traffic results in detail

The number of local passengers at Vienna Airport in April 2024 climbed 7.0% from
the previous year to 2,026,385 travellers, whereas transfer passenger traffic
rose 1.9% to 574,986. The number of flight movements in April 2024 rose to
19,815 (+6.2% vs. April 2023). Cargo volume at Vienna Airport was up by 15.6% to
23,890 tonnes vs. the prior-year month (April 2023).


The total number of passengers at Vienna Airport flying to destinations in
Western Europe in April 2024 climbed to 918,261 (+8.8% from April 2023), whereas
Eastern European traffic in April 2024 rose to 208,807 passengers (+5.5%).
Passenger traffic to North America equalled 33,638 travellers, up 1.1% from the
prior-year month, and the number of passengers flying to Africa decreased to
28,476 (-8.3%). Passenger volume to the Middle East totalled 63,614 travellers
in April 2024 (-22.8%), and the number of passengers flying to Far East
destinations climbed to 38,758 (+12,6%).

Malta Airport reported an increase in passenger volume in the month of April
2024 to 774,562 travellers
(+9.3%). In contrast, Kosice Airport showed a decline in passenger volume to
38,476 (-7.6%).


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


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 2024

Vienna Airport (VIE)            
  04/2024 Diff. % 2023   01-04/2024 Diff. % 2023    
Passengers arr+dep+transit 2,610,171 +5.9   8,520,734 +9.4    
Local passengers arr+dep 2,026,385 +7.0   6,749,297 +10.9    
Transfer passengers arr+dep 574,986 +1.9   1,742,420 +3.7    
Flight movements arr+dep 19,815 +6.2   66,109 +6.4    
Cargo arr+dep (in tonnes) 23,890 +15.6   91,948 +15.6    
MTOW (in tonnes) 836,651 +7.7   2,852,194 +9.7    
Malta Airport (MLA, fully consolidated)        
  04/2024 Diff. % 2023   01-04/2024 Diff. % 2023    
Passengers arr+dep+transit 774,562 +9.3   2,348,274 +20.2    
Local passengers arr+dep 773,540 +9.8   2,343,691 +20.4    
Transfer passengers arr+dep 1,020 -74.4   4,534 -42.9    
Flight movements arr+dep 5,127 +9.6   15,882 +17.6    
Cargo arr+dep (in tonnes) 1,803 +38.9   6,713 +13.6    
MTOW (in tonnes) 198,202 +8.8   623,482 +17.5    
Flughafen Kosice (KSC, consolidated at equity)      
  04/2024 Diff. % 2023   01-04/2024 Diff. % 2023    
Passengers arr+dep+transit 38,476 -7.6   135,822 +2.3    
Local passengers arr+dep 38,476 -7.6   135,822 +2.3    
Transfer passengers arr+dep 0 n.a.   0 n.a.    
Flight movements arr+dep 333 +1.8   1,164 +11.3    
Cargo arr+dep (in tonnes) 0 > 500   1 > 500    
MTOW (in tonnes) 8,399 -16.2   33,573 +2.2    
Vienna Airport and strategic investments (VIE, MLA, KSC)      
  04/2024 Diff. % 2023 01-04/2024 Diff. %    
Passengers arr+dep+transit 3,423,209 +6.5   11,004,830 +11.4    
Local passengers arr+dep 2,838,401 +7.5   9,228,810 +13.0    
Transfer passengers arr+dep 576,006 +1.3   1,746,954 +3.4    
Flight movements arr+dep 25,275 +6.8   83,155 +8.4    
Cargo arr+dep (in tonnes) 25,693 +17.0   98,662 +15.5    
MTOW (in tonnes) 1,043,252 +7.7   3,509,249 +10.9    

Note: Total number of passengers includes local, transfer and transit

Traffic data adjusted.


Consolidated Income Statement


in € million Q1/2024 Q1/2023
Revenue 210.3 180.4
Other operating income 3.3 2.9
Operating income 213.6 183.3
Expenses for consumables and services used -14.9 -17.7
Personnel expenses -89.1 -75.7
Other operating expenses -30.1 -23.2
Impairment/reversals of impairments on receivables 0.2 0.1
Proportional share of income from companies recorded at equity -0.3 -0.0
Earnings before interest, taxes, depreciation and amortisation
(EBITDA) 79.5 66.8
Depreciation and amortisation -33.0 -32.0
Earnings before interest and taxes (EBIT) 46.5 34.8
Income from investments, excluding companies recorded at equity 3.6 2.0
Interest expense -0.6 -3.2
Other financial result 0.7 0.3
Financial result 3.8 -0.9
Earnings before taxes (EBT) 50.3 33.9
Income taxes -13.2 -9.0
Net profit for the period 37.2 25.0
Thereof attributable to:    
Equity holders of the parent 33.5 23.0
Non-controlling interests 3.6 2.0
Earnings per share
(in €, basic = diluted) 0.40 0.27


Balance Sheet Indicators


in € million 31.3.2024 31.12.2023
Non-current assets 1,664.1 1,662.7
Current assets 556.0 531.7
Equity 1,593.0 1,556.4
Non-current liabilities 290.2 292.6
Current liabilities 337.0 345.4
Total assets 2,220.1 2,194.4
Net liquidity 393.3 361.9


Cash Flow Statement


in € million Q1/2024 Q1/2023
Net cash flow from operating activities 68.2 89.6
                investing activities -72.2 -153.0
                Financing activities -0.0 -0.0
Free cash flow -4.1 -63.3
CAPEX^1 34.9 15.2


1) Excluding financial assets


The Annual Report and Financial Report of Flughafen Wien AG for 2024 from
January 1 to March 31, will be available to the general public on the Internet



Vienna Airport, 16th of May 2024       The Management Board


Contact: Corporate Communications of Flughafen Wien AG  

Press Office      
Peter Kleemann, Company Spokesman   
Tel.: (+43-1-) 7007-23000     
E-Mail: [1]p.kleemann@viennaairport.com   

Investor Relations
Bernd Maurer
Tel.: (+43-1-) 7007-23126
E-Mail: b.maurer@viennaairport.com


Website: [2] www.viennaairport.com

[3] www.facebook.com/flughafenwien


[5] www.instagram.com/vienna_airport

[6] www.linkedin.com/company/vienna-international-airport




16.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG.


Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Phone: +43-1-7007/23126
Fax: +43-1-7007/23806
E-mail: investor-relations@viennaairport.com
Internet: http://www.viennaairport.com
ISIN: AT00000VIE62
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: 1904275

End of News EQS News Service

1904275  16.05.2024 CET/CEST


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