Flughafen Wien AG

Earnings Release • May 18, 2001

News Details

Corporate | 18 May 2001 09:01

Flughafen Wien AG english

Corporate-News announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Flughafen Wien report 5.5% increase in EBIT for the first quarter of 2001 Results prepared for the first time in accordance with IAS After three consecutive record calendar years, earnings before interest and taxes (EBIT) of Flughafen Wien Group in the first three months of 2001 increased by 5.5%. Results for the first quarter of 2001, which were prepared for the first time in accordance with International Accounting Standards, show a slight decline in profit to EUR 19.3 million. This is primarily the result of an increase in income tax (+5.5%) that resulted from the repeal of the investment allowance. Traffic development during the first quarter was in line with expectations. The number of passengers increased by 6.9% (transfer:+ 15.6%) and flight movements by 4.3%. Maximum take-off weight (MTOW) rose by 1.5% following the use of smaller types of aircraft. Cargo declined by 3.4% during the first quarter. Turnover Group turnover increased by 1.4% to EUR 75.9 million. External sales recorded by the Airport Segment rose by 3.6% to EUR 30.4 million. Turnover within the Handling Segment grew by 0.5%, reflecting the combination of the mild winter and the reduced demand for de-icing, a decline in market share to 98% following the start of operations by a second handling agent, and price adjustments. The Non- Aviation Segment recorded a 0.5% decline in turnover to EUR 17.3 million, with higher revenues from parking, gastronomy and shopping, off setting lower income from the provision of security services. Expenses Operating expenses declined by 3.6% to EUR 51.6 million. The cost of materials and services decreased by 3.3% to EUR 4.8 million, while other operating expenses (third party services, marketing, advertising and PR,) rose by 16.4% to EUR 5.1 million. Personnel expenses decreased by 4.1% to EUR 31.8 million as a result of the discontinuation of bonuses required by collective bargaining agreements, the impact of the golden handshake programme that was concluded in 2000, and the introduction of part-time employment for older employees. Results in Detail Earnings before interest and taxes (EBIT) increased by 5.5% to EUR 24.8 million. At EUR 4.0 million, financial results were 17.9% lower due to the absence of non-recurring income that arose from the sale of shares in 2000. Earnings before tax (EBT) increased by 1.5% to EUR 28.8 million. The federal tax reform triggered an increase in income tax (+5.5%) for the Flughafen Wien Group, in particular as a result of the repeal of the investment allowance. Net profit for the period totalled EUR 19.3 million, or 0.3% lower than the prior year level. Capital Expenditure Investments in tangible and intangible assets totalled EUR 8.0 million for the first three months of 2001, with the major portion relating to IT equipment and large machinery for apron handling. Outlook Including the month of April, traffic developments remain on target for 2001. The number of passengers increased by 5.7%, flight movements by 3.0%, maximum take-off weight by 0.2%. For additional information, contact:a Dagmar Lang (+43-1) 7007-22103 Hans Mayer (+43-1) 7007-23000 Stuart Leasor, Financial Dynamics, (+44-20) 72697173 end of message, (c) DGAP 18.05.2001