Flughafen Wien : 3rd Quarter 2021

Quarterly Report

3/2021

Flughafen Wien AG

www.viennaairport.com

CONTENT

Content

Key Data on the Flughafen Wien Group ����������������������������������������3 Letter to the shareholders ��������������������������������������������������� 4

Financial information Q1-3/2021	6

Passenger development in the Flughafen-Wien-Group ��������������������������7 Earnings in the first three quarters of 2021 ������������������������������������ 9 Earnings in the third quarter�������������������������������������������������12 Information on the operating segments ��������������������������������������13 Financial, asset and capital structure ����������������������������������������� 17 Capital expenditure���������������������������������������������������������19 Guidance 2021������������������������������������������������������������� 20

Condensed Consolidated Interim Financial Statements as of 30 September 2021	22

Consolidated Income Statement ���������������������������������������������23 Consolidated Balance Sheet �������������������������������������������������24 Consolidated Cash Flow Statement ������������������������������������������25 Imprint ������������������������������������������������������������������� 26

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KEY DATA ON THE FLUGHAFEN WIEN GROUP

Key Data on the Flughafen Wien Group

Financial Indicators (in € million, excluding employees)
	Q1-3/2021	Q1-3/2020	Change in %
Total revenue		274.5		277.0	-0.9
Thereof Airport		113.5		115.5	-1.7
Thereof Handling & Security Services		63.8		68.6	-7.1
Thereof Retail & Properties		55.5		58.2*	-4.7
Thereof Malta		32.3		25.0	29.2
Thereof Other Segments		9.4		9.7*	-2.8
EBITDA		106.6		62.3	71.1
EBITDA margin (in %)1		38.8		22.5	n.a.
EBIT		6.9		-43.6	n.a.
EBIT margin (in %)2		2.5		-15.7	n.a.
Net profit		-0.1		-41.3	99.7
Net profit parent company		-1.5		-40.1	96.2
Cash flow from operating activities		43.1		-6.7	n.a.
Capital expenditure3		30.3		62.6	-51.6
Income taxes		-0.0		-13.2	99.7
Average number of employees4		4,924		5,549	-11.3
	30.9.2021	31.12.2020	Change in %
Equity	1,306.6		1,305.5	0.1
Equity ratio (in %)		64.1		60.1	n.a.
Net debt		201.5		201.9	0.2
Net assets	2,037.6		2,173.3	-6.2
Gearing (in %)		15.4		15.5	n.a.
Number of emloyees (end of period)		4,875		5,296	-7.9
* adjusted
Industry Indicators	Q1-3/2021		Q1-3/2020	Change in %
Passenger development of the Group
Vienna Airport (in mill.)		6.8		7.0	-3.3
Malta Airport (in mill.)		1.5		1.6	-0.6
Košice Airport (in mill.)		0.1		0.1	36.9
Vienna Airport and strat. investments (VIE, MLA, KSC)		8.5		8.7	-2.4
Traffic development Vienna Airport
Passengers (in mill.)		6.8		7.0	-3.3
Thereof transfer passengers (in mill.)		1.7		1.3	32.5
Aircraft movements	72,977		80,580	-9.4
MTOW (in mill. tonnes)5		3.1		3.4	-7.3
Cargo (air cargo and trucking; in tonnes)	188,177		157,878	19.2
Seat load factor (in %)6		64.0		59.5	n.a.
Stock Market Indicators				Ticker Symbols
Market capitalisation (as of 30.9.2021; in € mill.)	2,516			Reuters	VIEV.VI
Stock price: high (15.6.2021; in €)	32.25			Bloomberg	FLU:AV
Stock price: low (20.8.2021 in €)	26.50			Nasdaq	FLU-AT
Stock price as of 30.9.2021 (in €)	29.95			ISIN	AT00000VIE62
Stock price as of 31.12.2020 (in €)	30.45			Spot market	FLU
Market weighting ATX Prime (as of 30.9.2021; in%)	0.80			ADR		VIAAY

1. EBITDA margin (Earnings before Interest, Taxes, Depreciation and Amortisation) = EBITDA / Revenue 2) EBIT margin (Earnings before Interest and Taxes) = EBIT / Revenue 3) Capital expenditure: intangible assets, property, plant and equipment and investment property including corrections to invoices from previous years, excluding financial assets 4) According to the degree of employment including apprentices, exclusive employees without reference (parental leave, armed forces etc.), exclusive board members and managing directors weighted "full-time equivalent" on an annual average 5) MTOW: maximum take off weight for aircraft 6) Seat load factor: Number of passengers / available number of seats

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LETTER TO THE SHAREHOLDERS

Dear Shareholders,

After more than a year and a half of the pandemic, which has hit aviation harder than almost any other sector, in the the third quarter of 2021 a silver lining appeared on the horizon for the first time. Higher vaccination rates in Europe and the lifting of numerous travel restrictions have significantly bolstered demand for air travel. The months of July to September also saw the highest passenger volume since the start of the COVID-19 pandemic. Nevertheless, passenger volume for practically all regions and destinations declined compared with the same period of the previous year, which includes the months of January and February that were not yet impacted by the pandemic.

The Flughafen Wien Group - which includes the Vienna Airport and the airports in Malta and Košice - recorded 8,451,899 passengers from January to September, representing a 2.4% decrease compared to 2020. Compared to 2019, which was not affected by the pandemic, this increases to a 71.9% drop. Aircraft movements also fell by 8.1% against 2020 to 89,620 take-offs and landings, down 63.7% on 2019.

At Vienna Airport, the declines in passenger numbers and aircraft movements were of a similar magnitude at 3.3% and 9.4% respectively. Only cargo business continued to perform well: Cargo volume at Vienna Airport picked up by 19.2% compared to 2020 to about 190,000 tonnes, not least a result of the improved global economy. Compared with 2019, this is nevertheless a decline of 9.5%.

The ongoing COVID-19 crisis pandemic is still reflected in the Flughafen Wien Group's financial indicators, although results did improve on the very weak 2020 comparative period thanks to the better third quarter: at € 274.5 million, revenue remained almost on par with the figure of Q1-3/2020 (€ 277.0 million), while EBITDA climbed significantly from € 62.3 million to € 106.6 mil- lion. EBIT moved into positive territory again at € 6.9 million after minus € 43.6 million, but the far improved net result remained negative at minus € 0.1 million following minus € 41.3 million.

In terms of balance sheet figures, net debt as at 30 September 2021 remained practically unchanged on the end of 2020 at € 201.5 million (compared to € 201.9 million), whereas the equity ratio improved considerably from 60.1% to 64.1% due to a decrease in total assets. Our company's financing and very good credit rating thus remain unchanged in the long term.

We responded to this crisis with even greater focus on frugality and efficiency and adopted an extensive cost reduction programme. The negative effects of the COVID-19 pandemic were significantly mitigated by reducing expenses in almost all areas. Personnel expenses alone declined by 17.6%/€ 30 million year-on-year in the reporting period to € 131.8 million. The fact that we were able to avoid a substantial workforce reduction and wave of redundancies is of course also thanks to government assistance such as the extension of short-time work allowances, which is utilised across the company, and the fixed cost subsidy and revenue shortfall bonuses.

Although capital expenditure was scaled back significantly, this does not curb our ambitions for future-oriented projects. Indeed, the 24-hectare photovoltaic plant, the largest in Austria, will be completed in the first half of 2022, and the growth of Airport City is still assured. The upgrading and modernisation of Terminal 2, the oldest part of the airport, is also progressing according to schedule. Central security controls, new lounges and a clear, stylish design will significantly improve the comfort and travel experience for our passengers after they reopen next spring.

In terms of prospects for the final quarter of 2021, we remain cautiously optimistic, although forecasting reliability is lower than normal and subject to uncertainty as it is hard to predict how vaccination rates and cases will develop.

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LETTER TO THE SHAREHOLDERS

We expect 12-13 million passengers for the FWAG Group, with Vienna Airport accounting for over 10 million. Revenue is expected to reach around € 380 million in 2021, EBITDA about

• 150 million and a positive net result of € 4 million should be reached. Net debt should decline to about € 100 million by the end of the year and capital expenditure should come to around
• 60 million this year.

Finally, we would like to sincerely thank you, our shareholders, for continuing to place your trust in our company and its employees, who are working particularly hard at this time!

We hope you all get through this difficult time successfully and, above all, in good health!

The Management Board

Günther Ofner	Julian Jäger
Member of the board, CFO	Member of the board, COO

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