Flughafen Wien AG

Earnings Release • Nov 13, 2003

News Details

Corporate | 13 November 2003 08:36

Flughafen Wien AG english

Results for the first three quarters Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– During the first nine months of 2003, turnover recorded by the Flughafen Wien Group rose 7.7% to EUR 258.7 million. Profit for the first nine months of 2003 totalled EUR 59.7 million, for an increase of 13.4% over the comparable prior year figure after adjustment for non-recurring items. The settlement of pension claims and related reversal of EUR 19.9 million in provisions for pensions generated this one-time effect in 2002. Profit for the reporting period therefore remained 9.2% below the comparable prior year level. Herbert Kaufmann, Member of the Board and Speaker of Flughafen Wien AG, commented on the development of business at this publicly traded company in 2003 by indicating that “A solid increase in traffic served as the motor for growth during the first three quarters”. Consolidated Income Statement for the First Three Quarters T EUR 1-9/2003 1-9/2002 Change Turnover 258,683.9 240,284.3 7.7% Other operating income 12,638.0 6,755.6 87.1% Operating income 271,321.8 247,039.9 9.8% Cost of materials and services -14,915.7 -12,937.0 15.3% Personnel expenses -108,351.0 -81,650.1 32.7% Amortization of intangible assets and depreciation of fixed assets -33,522.0 -31,285.9 7.1% Other operating expenses -32,433.9 -31,126.9 4.2% Income before interest and taxes (EBIT) 82,099.1 90,040.1 -8.8% Income from inv., excl. associates at equity 1,603.3 0.0 n.a. Net financing costs 6,190.1 7,344.0 -15.7% Other income from financing activities 708.0 1,067.8 -33.7% Financial results, excl. associates at equity 8,501.3 8,411.9 1.1% Income from associates at equity 67.0 230.0 -70.9% Financial results 8,568.4 8,641.9 -0.9% Profit before tax (EBT) 90,667.5 98,682.0 -8.1% Taxes on income -30,638.0 -32,860.4 -6.8% Minority interest -298.8 -8.0 n.a. Profit for the period 59,730.7 65,813.6 -9.2% Earnings per share (in EUR) 2.84 3.13 -9.3% Consolidated Income Statement for the Third Quarter T EUR 7-9/2003 7-9/2002 Change Turnover 91,554.2 87,327.2 4.8% Other operating income 4,497.7 2,278.3 97.4% Operating income 96,051.9 89,605.4 7.2% Cost of materials and services -4,160.9 -3,957.8 5.1% Personnel expenses -36,681.5 -34,072.7 7.7% Amortization of intangible assets and depreciation of fixed assets -12,002.4 -10,261.6 17.0% Other operating expenses -12,638.8 -10,370.2 21.9% Income before interest and taxes (EBIT) 30,568.3 30,943.2 -1.2% Income from inv., excl. associates at equity 1,629.9 0.0 n.a. Net financing costs 2,209.2 2,030.5 8.8% Other income from financing activities 0.0 0.0 n.a. Financial results, excl. associates at equity 3,839.1 2,030.5 89.1% Income from associates at equity 488.9 230.0 112.6% Financial results 4,328.0 2,260.5 91.5% Profit before tax (EBT) 34,896.4 33,203.8 5.1% Taxes on income -11,752.3 -11,321.5 3.8% Minority interest -209.9 -5.2 3970.3% Profit for the period 22,934.2 21,877.2 4.8% Earnings per share (in EUR) 1.09 1.04 4.8% Segment Results T EUR 1-9/2003 1-9/2002 Change Airport Segment turnover* 120,026.4 104,981.1 14.3% Segment results 58,676.2 55,109.1 6.5% Handling Segment turnover* 78,990.1 77,726.2 1.6% Segment results 13,857.6 19,917.5 -30.4% Non-Aviation Segment turnover* 59,463.6 57,432.6 3.5% Segment results 21,492.5 29,044.1 -26.0% * External turnover Outlook Growth of 10.2% in the number of passengers during October, as well as an increase of 5.9% in flight movements and 2.1% in maximum take-off weight (MTOW) lead to expectations of continued positive development at Vienna International Airport. With Baku and Rostov, Vienna has added two new cities to the flight schedule. This brings the number of new destinations in the dynamically growing countries of Central, Southern and Eastern Europe to 12. V-Bird, Duo Airways, Helvetic Airways and Qatar Airways have joined Vienna International Airport as new customers. Three new weekly cargo rotations by EVA Air underscore the expansion of our freight offering. The first stage of construction is currently underway for the air traffic control tower, which is scheduled for completion by the end of 2004; an agreement has already been concluded to lease this facility to Austro Control GmbH. Work is also progressing on the Office Park, which will have 26,000 square meters of usable space and open in October 2004. In order to increase passenger capacity, new international bus gates are being built and will start operations in the near future. The City Airport Train – a joint venture between Vienna International Airport and the Austrian Federal Railway Corporation – will soon start operations. This rapid transit train will transport passengers to and from the airport and Inner City of Vienna in only 16 minutes, and will offer convenient baggage check-in at the starting point in Vienna and business class comfort during the trip. All the above projects will strengthen the earning power of the Flughafen Wien Group. end of message, (c)DGAP 13.11.2003 ——————————————————————————– WKN: 091180; ISIN: AT0000911805; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München, Stuttgart; London 130836 Nov 03