Flughafen Wien : Presentation of the Results for the First Nine Months of 2021

FLUGHAFEN WIEN AG

Results Q1-3/2021

17.11.2021

Q1-3/2021: After very difficult first half year, significant rise in passenger figures in Q3/2021

• Q1-3/2021with revenue on previous year's level, net result before non- controlling interests at € -0.1 million, positive development of passenger figures in Q3/2021
• Confirmed Guidance für 2021:

Around 12 to 13 million passengers are expected within the Flughafen Wien Group and more than 10 million passengers at the Vienna site due to the positive development of passenger figures in the last months. Flughafen Wien Group with its strong financial basis expects the financial year 2021 to end with a positive net result of € 4 million. This is due on the one hand to significant cost savings such as lower expenses for incentives, lower maintenance expenses, reduced personnel costs and passenger numbers that were above the original forecast, 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, government support relating to COVID (partially also for the losses incurred in 2020) and additional revenue from property transactions. In 2021, revenue is expected to come to around € 380

million and EBITDA to around plus € 150 million. 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. Because of the difficulty of predicting the further course of the pandemic, the guidance for 2021 remains subject to uncertainty.

2

Revenue on previous year's level, strong increase in net profit

in € million	Q1-3/2021	Q1-3/2020	in %
Revenue	274.5	277.0	-0.9
Earnings before interest, tax, depreciation	106.6	62.3	71.1
and amortization (EBITDA)
Earnings before interest and taxes (EBIT)	6.9	-43.6	n.a.
Financial results	-7.1	-11.0	35.2
Earnings before tax (EBT)	-0.2	-54.6	99.7
Net profit for the period	-0.1	-41.3	99.7
Net profit for the period after	-1.5	-40.1	96.2
noncontrolling interests

• Net profit only slightly negative, positive traffic development in Q3, cost savings program and support measures take effect

3

Expenses: Significant cost reduction achieved in all positions

 Expenses for consumables and	in € million	Q1-3/2021	Q1-3/2020	in %
services used were below	Consumables and	-19.1	-20.9	-8.9
previous year (-8.9%)	services used
Personnel expenses	-131.8	-160.0	-17.6
 Personnel expenses were down	Other operating	-29.9	-36.4	-17.7
expenses1
significantly by 17.6% due to
Reversals of
lower average employee	impairment/impair-	-0.3	-0.8	-58.0
numbers (FTE) at the	ment on receivables
Depreciation and	-99.7	-99.0	0.7
Flughafen Wien Group and the
Amortisation
short-time work introduced	Impairment	0.0	-7.0	-100.0
in March 2020

• Other operating expenses1 were reduced by 17.7%
• Depreciation and amortisation rose by 0.7%

4

1) Excluding Impairment/reversals of impairment on receivables

Stable net debt, significantly positive cash flows and noticable CAPEX reduction

	Q1-3/2021	Q1-3/2020	in %
Net debt (€ million)1	201.5	201.9	-0.2
Gearing (in %)1	15.4	15.5	n.a.
Cash flow from operating activities	43.1	-6.7	n.a.
(€ million)
Free cash flow (€ million)	21.4	-65.3	n.a.
CAPEX (€ million)2	30.3	62.6	-51.6
Equity (€ million)1	1,306.6	1,305.5	0.1
Equity ratio (in %)1	64.1	60.1	n.a.

• Stable net debt
• Cash flow from operating activities and free cash flow are significantly positive
• Noticeable CAPEX reduction, equity ratio higher at 64,1%

5	1)	Comparison of September 30, 2021 vs. December 31, 2020
2)	CAPEX excl. financial assets and business combinations