Flughafen Wien : Presentation of the Results for the First Nine Months of 2022
November 17, 2022 at 02:19 am EST
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FLUGHAFEN WIEN AG
Q1-3/2022 Results
17/11/2022
Q1-3/2022: Significant passenger and earnings increase vs. 2021
Q1-3/2022rise in passenger volume to 22.3 million (+163.6%) in the Group, already about three-quarters of the pre-crisis level
Considerable improvement of financial performance indicators: revenue up 85.1%, EBITDA increase of 140.1%, net profit for the period before non- controlling interests already in the three-digit million euro range at € 109.3 million
Guidance for 2022:
The Flughafen Wien Group expects around 29 million passengers throughout the Group and around 23 million passengers at the Vienna site. This will result in a further improvement in annual profit to € 115 million.
Based on this positive earnings performance, the Management Board is confirming its plan to propose to the Annual General Meeting for the 2022 financial year that a dividend of at least 60% of the net profit after non-controlling interests be paid.
The current guidance is based on the assumption that there will be no pandemic-related
lockdowns or far-reaching travel restrictions in the autumn and winter. Another continuing uncertainty factor is the further development of the war in Ukraine and its effects on aviation, which are currently unforeseeable.
2
85% revenue increase compared to the previous year, sharp rise in earnings
€ million
Q1-3/2022
Q1-3/2021
in %
Revenue
508.0
274.5
85.1
Earnings before interest, tax, depreciation
256.0
106.6
140.1
and amortization (EBITDA)
Earnings before interest and taxes (EBIT)
156.9
6.9
n.a.
Financial results
-6.8
-7.1
3.9
Earnings before tax (EBT)
150.1
-0.2
n.a.
Net profit for the period
109.3
-0.1
n.a.
Net profit for the period after non-
97.8
-1.5
n.a.
controlling interests
85% rise in revenue compared to the prior-year period.
Net profit for the period already in the three-digit million euro range after nine months due to the good business development.
3
Expenses increase but at a lower rate than revenue growth
Expenses for consumables and services used above the prior-year level (+53.8%).
Personnel expenses up 40.8%, which is mainly attributable to lower government aid for short-time work.
€ million
Q1-3/2022
Q1-3/2021
in %
Consumables and
-29.3
-19.1
53.8
services used
Personnel expenses
-185.5
-131.8
40.8
Other operating
-63.4
-29.9
111.6
expenses1
Impairment/
impairment reversals
3.7
-0.3
n.a.
on receivables
Depreciation and
-99.1
-99.7
-0.6
amortisation
Other expenses1 rose by 111.6% for operational reasons.
0.6% decline in depreciation and amortisation.
4
1) Excl. impairment reversals/impairment on receivables
Net liquidity of € 61.7 million achieved, CAPEX at a low level, higher equity
Q1-3/2022
Q1-3/2021
in %
Net liqudity (€ million)1
61.7
-150.4
n.a.
Gearing (%)1
n.a.
11.4
n.a.
Cash flow from operating activities (€
234.6
43.1
n.a.
million)
Free cash flow (€ million)
-13.0
21.4
n.a.
CAPEX (€ million)2
38.0
30.3
25.1
Equity (€ million)1
1,431.6
1,314.5
8.9
Equity ratio (%)1
65.7
63.4
n.a.
Net liquidity of € 61.7 million achieved.
Clearly positive cash flow from operating activities but negative free cash flow due to payments for new time deposits.
CAPEX at a low level, equity increase to € 1.4 billion.
5
1)
Comparison of 30/9/2022 to 31/12/2021; net debt on 31/12/2021
2)
CAPEX excluding financial assets and business combinations
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Flughafen Wien AG published this content on 17 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2022 07:18:03 UTC.
Flughafen Wien AG (FWAG) is an Austria-based company. The Company and its subsidiaries is engaged in the field of the construction and operation of civil airports and all related facilities. The Company operates through five segments: Airport, Handling & Security Services, Retail & Properties, Malta and Other Segments. The Airport segment is responsible for the operation and maintenance of all movement areas of the terminal, the facilities involved in passenger and baggage handling, as well as security controls for passengers and hand luggage at Vienna Airport. The Handling & Security Services segment provides services for aircraft and passenger handling of scheduled, charter and general aviation traffic. Passengers, users of parking facilities, hotel guests, conference participants, employees at the site in the Retail & Properties segment. The Malta segment includes Malta Airport (Malta International Airport plc, MIA)and its direct investments.