Flughafen Wien : Presentation of the 33rd Annual General Meeting on 24 August 2021
August 24, 2021 at 08:04 am EDT
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FLUGHAFEN WIEN GROUP
33rd Annual General Meeting
24 August 2021
2020: A year of Covid-induced losses - no layoffs so far thanks to short-time work
COVID-19pandemic has led to the greatest crisis in the history of aviation - Vienna Airport also heavily affected: Minus 61.1% in revenue, net result for the period (before non controlling interests) at
-75.7million
Countermeasures were initiated timely: investments were postponed, a comprehensive cost savings program of about € 200 million, limited net debt and good results of former years provide relief
Short-timework for all employees since the beginning of the crisis, which is necessary to retain jobs for a longer period
Health has highest priority at VIE: More than 80% of all employees have been vaccinated as of mid August 2021. Over 300,000 antigen and PCR tests have been conducted in the airport testing facility since May 2020
A slightly positive net result should be achieved in 2021 (revenue about € 380 million, net result about € 4 million) - Because of the difficulty of predicting the further course of the pandemic, the guidance for 2021 remains subject to uncertainty
2
H1/2021: After very difficult first half year, significant rise in passenger figures in July 2021
COVID-19pandemic takes its toll on the first half year of 2021: H1/2021 with -34.3% in revenue, net profit before non-controlling interests at € -32.5 million, cargo with about -4% in July 2021 almost again on 2019 levels
Green Pass and 3G rule have provided significant relief for the summer travel period: Highest passenger volumes in July 2021 since the begin of the pandemic
Guidance for 2021: Although the approximately 12 to 13 million passengers (of which around 10 million at Vienna Airport) expected in the FWAG Group for 2021 as a whole is below the figure originally planned for as a result of the pandemic, the current guidance of positive net profit for the period of around € 4 million for 2021 is confirmed under these conditions. This is due on the one hand to material cost savings such as lower expenses for incentives, lower maintenance expenses and reduced personnel costs, and on the other hand to higher government subsidies as a result of the extension of short-term work until the end of the year and additional revenue from property transactions. In 2021, revenue is expected to come to around € 380 million (previously € 430 million) and EBITDA to around plus € 150 million (unchanged). Net debt is expected to decline to around € 100 million again after the increase in the previous year. Capital expenditure will amount to around € 60 million.
3
Significant profit and revenue drop due to COVID-19 pandemic
in € million
Revenue
Earnings before interest, tax, depreciation and amortization (EBITDA)
Earnings before interest and taxes (EBIT)
Financial results
Earnings before tax (EBT)
Net profit for the period
Net profit for the period after non-controlling interests
Dividend (in €)1
2020
333.7
54.1
-86.5
-14.4
-100.9
-75.7
-72.8
-
2019
in %
857.6
-61.1
384.8
-85.9
252.3
-134,3
-14.4
+0.0
237.9
-142.4
175.7
-143.1
158.9
-145.8
-
-
1) Dividend 2020: Proposal to the Annual General Meeting
Negative net result in 2020, aim to return to profitability in 2021
Flughafen Wien AG published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 12:03:01 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.