Flughafen Wien AG

Earnings Release • Nov 18, 2004

News Details

Corporate | 18 November 2004 08:32

Flughafen Wien Group: Results first three Quarters 2004

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Flughafen Wien Group: Results first three Quarters 2004 The Flughafen Wien Group recorded a 15.8% increase in turnover to EUR 299.5 million for the first three quarters of 2004, which was supported primarily by the development of traffic. This growth was contrasted by higher operating expenses, and income before interest and taxes (EBIT) rose EUR 4.8 million to EUR 86.9 million. Financial results totalled EUR +1.6 million. Profit for the period increased by EUR 0.4 million to EUR 60.1 million. “A solid increase in traffic served as the motor for growth during the first three quarters”, commented Herbert Kaufmann, member of the Management Board and speaker of Flughafen Wien AG, on the development of this publicly traded company in 2004. Consolidated Income Statement for the First Three Quarters T EUR 1-9/2004 1-9/2003 Change in % Turnover 299,464.9 258,683.9 15.8% Other operating income 12,580.0 12,638.0 -0.5% Operating income 312,044.9 271,321.8 15.0% Cost of materials and services 19,204.6 -14,915.7 28.8% Personnel expenses -123,396.8 -108,351.0 13.9% Amortization of intangible assets and Depreciation of fixed assets -35,522.4 -33,522.0 6.0% Other operating expenses -47,058.3 -32,433.9 45.1% Income before interest and taxes (EBIT) 86,862.8 82,099.1 5.8% Income from inv., excl. associates at equity 500.5 1,603.3 -68.8% Net financing costs 5,786.4 6,190.1 -6.5% Other income from financing activities -4,917.9 708.0 -794.6% Financial results, excl. associates at equity 1,369.0 8,501.3 -83.9% Income from associates at equity 234.1 67.0 249.3% Financial results 1,603.1 8,568.4 -81.3% Profit before tax (EBT) 88,465.9 90,667.5 -2.4% Taxes on income -28,214.2 -30,638.0 -7.9% Minority interest -142.5 -298.8 -52.3% Profit for the period 60,109.2 59,730.7 0.6% Earnings per share (in EUR) 2.86 2.84 0.7% Consolidated Income Statement for the Third Quarter T EUR 7-9/2004 7-9/2003 Change in % Turnover 104,609.3 91,554.2 14.3% Other operating income 3,920.2 4,497.7 -12.8% Operating income 108,529.4 96,051.9 13.0% Cost of materials and services -5,211.6 -4,160.9 25.3% Personnel expenses -42,062.8 -36,681.5 14.7% Amortization of intangible assets and Depreciation of fixed assets -11,558.1 -12,002.4 -3.7% Other operating expenses -17,228.9 -12,638.8 36.3% Income before interest and taxes (EBIT) 32,468.0 30,568.3 6.2% Income from inv., excl. associates at equity 0.0 1,629.9 -100.0% Net financing costs 1,391.2 2,209.2 -37.0% Other income from financing activities -2.8 0.0 n.a. Financial results, excl. associates at equity 1,388.4 3,839.1 -63.8% Income from associates at equity 877.1 488.9 79.4% Financial results 2,265.5 4,328.0 -47.7% Profit before tax (EBT) 34,733.5 34,896.4 -0.5% Taxes on income -11,579.0 -11,752.3 -1.5% Minority interest -92.6 -209.9 -55.9% Profit for the period 23,061.8 22,934.2 0.6% Earnings per share (in EUR) 1.10 1.09 0.9% Outlook With growth of 12.3% in the number of passengers, 12.6% in flight movements and 20.7% in maximum take-off weight (MTOW), Vienna International Airport also recorded two-digit growth in October. Our winter flight schedule for 2004/2005 adds London Stansted, Turin, Cancun and Trinidad/Tobago, bringing the total number of destinations to 145 and the number of flights to 2,397 per week. Maersk Air has also introduced flights to Vienna International Airport starting January 2005 to Copenhagen. Our home carrier has increased its weekly frequencies from 1,150 flights in winter 2003/2004 to 1,412 this season. A new tariff structure took effect at Vienna International Airport on 1 October 2004, and reduced landing tariffs by an average of 16%. This programme is designed to strengthen hub activities and the competitive position of Vienna. In order to further expand the east-west hub function, a frequency incentive with reductions of up to 40% has been offered to all airlines. These measures – the tariff reform and frequency incentive – will lead to a reduction in fees of approximately EUR 3 million in 2004 and roughly 3% in 2005 for Flughafen Wien AG. For the year 2004 we expect an increase in the total number of passengers to 14.7 million. In 2003 we handled 12,784,504 passengers. The new air traffic control tower, the future landmark of Vienna International Airport that is rented for the most part to Austro Control, will open for operations in summer 2005. end of message, (c)DGAP 18.11.2004 ——————————————————————————– WKN: 091180; ISIN: AT0000911805; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München, Stuttgart; London 180832 Nov 04