Flughafen Wien AG

Earnings Release • Aug 28, 2003

News Details

Corporate | 28 August 2003 09:59

Flughafen Wien AG english

Results for the first half-year Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Flughafen Wien Group Above-average growth in traffic supports outstanding results for the first half- year Vienna International Airport was able to recover faster than expected from the downturn in traffic caused by the war in Iraq and SARS, and also record above- average growth. According to Airport Council International (ACI) the number of passengers at major European airports rose by only 0.9% in the first half of 2003, while Vienna International Airport achieved an increase of 3.1% for this period. During the first six months of 2003, turnover rose by 9.3%. Compared to the same period last year, profit declined by 16.3% to EUR 36.8 million. The settlement of pension claims in 2002 and the subsequent non-recurring reversal of EUR 19.9 million in pension provisions created a one-time effect last year. Without this non-recurring item, profit for the current period would have increased by 19.5%. This information was presented by the Management Board of Flughafen Wien AG, Herbert Kaufmann, Gerhard Schmid and Kurt Waniek, at a press conference in Vienna on 28. August. CONSOLIDATED INCOME STATEMENT 01.01. – 30.6.2003 T EUR 1-6/2003 1-6/2002 Change Turnover 167,129.6 152,957.1 9.3% Other operating income 8,140.3 4,477.4 81.8% Operating income 175,269.9 157,434.4 11.3% Cost of materials and services -10,754.9 -8,979.2 19.8% Personnel expenses -71,669.5 -47,577.4 50.6% Amortisation of intangible assets and depreciation of fixed assets -21,519.7 -21,024.3 2.4% Other operating expenses -19,795.1 -20,756.7 -4.6% Income before interest and taxes (EBIT) 51,530.8 59,096.9 -12.8% Income from investments, excl. associates at equity -26.6 0.0 n.a. Net financing costs 3,980.8 5,313.5 -25.1% Other income from financing activities 708.0 1,067.8 -33.7% Financial results, excl. associates at equity 4,662.2 6,381.3 -26.9% Income from associates at equity -421.9 0.0 n.a. Financial results 4,240.3 6,381.3 -33.6% Profit before tax (EBT) 55,771.1 65,478.2 -14.8% Taxes on income -18,885.7 -21,538.9 -12.3% Minority interest -88.9 -2.8 n.a. Profit for the period 36,796.5 43,936.4 -16.3% Earnings per share (in EUR) 1.75 2.09 -16.3% CONSOLIDATED INCOME STATEMENT 01.04. – 30.06.2003 T EUR 4-6/2003 4-6/2002 Change Turnover 85,765.4 82,345.2 4.2% Other operating income 6,366.2 2,104.6 202.5% Operating income 92,131.6 84,449.8 9.1% Cost of materials and services -4,302.3 -4,399.1 -2.2% Personnel expenses -37,389.5 -35,723.5 4.7% Amortisation of intangible assets and depreciation of fixed assets -10,879.0 -10,723.4 1.5% Other operating expenses -11,477.3 -12,629.6 -9.1% Income before interest and taxes (EBIT) 28,083.5 20,974.3 33.9% Income from investments, excl. associates at equity 9.2 0.0 n.a. Net financing costs 2,032.8 2,723.0 -25.3% Other income from financing activities 708.0 -8.0 n.a. Financial results, excl. associates at equity 2,750.0 2,715.0 1.3% Income from associates at equity 15.1 0.0 n.a. Financial results 2,765.1 2,715.0 1.8% Profit before tax (EBT) 30,848.6 23,689.3 30.2% Taxes on income -10,512.0 -7,205.5 45.9% Minority interest 5.2 -91.9 -105.6% Profit for the period 20,341.8 16,391.9 24.1% Earnings per share (in EUR) 0.97 0.78 24.4% SEGMENT RESULTS in T EUR T EUR 1-6/2003 1-6/2002 Change Airport Segment turnover* 76,308.7 64,768.3 17.8% Segment profit 36,693.3 31,531.0 16.4% Handling Segment turnover* 52,408.3 50,158.2 4.5% Segment profit 8,793.3 15,252.5 -42.3% Non-Aviation Segment turnover* 38,282.1 37,926.9 0.9% Segment profit 13,362.7 20,838.7 -35.9% * external turnover OUTLOOK The encouraging development of traffic in July 2003 – passengers + 6.0%, flight movements + 3.9% and maximum take-off weight + 3.3% – lead to expectations of a lasting recovery in air travel for Vienna International Airport. During the first six months of 2003, 12 new destinations were added to Vienna’s flight schedule. Donetsk, Lemberg and Podgorica extend the direct flight offering, which now includes a total of 40 major cities in the developing regions of Eastern and Southeast Europe. Construction has started on the new air traffic control tower, which is scheduled for completion at the end of 2004 and has already been leased to Austro Control GmbH. Work has also commenced on the 26,000 m2-large Office Park. The new international bus gates will soon be completed, and will increase passenger capacity. In addition, preparatory work for the City Airport Train (CAT) has entered the intensive stage. Starting in December 2003, the CAT will travel between Vienna’s City Centre and Vienna International Airport in 16 minutes. The CAT will also offer passengers the opportunity to check in their baggage at the “Wien-Mitte” station. All the above projects will lead to an improvement in our earning power. end of message, (c)DGAP 28.08.2003 ——————————————————————————– WKN: 091180; ISIN: AT0000911805; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München, Stuttgart; London 280959 Aug 03