EQS-News: Flughafen Wien AG: Strong Q1/2023 – Significant increases in passengers, revenue and net profit; well-booked summer travel season expected

On 16. Mai 2023

EQS-News: Flughafen Wien AG / Key word(s): Quarter Results/Quarter Results
Flughafen Wien AG: Strong Q1/2023 – Significant increases in passengers, revenue
and net profit; well-booked summer travel season expected

16.05.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Flughafen Wien AG reports a strong first quarter of 2023: Significant increases
in passengers, revenue and net profit – Well-booked summer travel season
expected

• Q1/2023: Significant year-on-year improvement in the Flughafen Wien Group to
6.7 million passengers, only 9.3% below the pre-crisis level of 2019

• Financial indicators in Q1/2023: strong revenue growth to € 180.4 million,
close to four-fold increase in the Group net profit to € 25.0 million,
substantial increases in EBITDA and EBIT vs. 2022

• April 2023: 3.2 million passengers handled by the Flughafen Wien Group, only
6.3% below the pre-crisis year of 2019 – 2.5 million passengers at Vienna
Airport

• Guidance: unchanged forecast of 32-34 million passengers in the Flughafen
Wien Group and 26-27 million at Vienna Airport in 2023; revenue of € 830
million, EBITDA of at least € 325 million and a Group net profit of at least
€ 150 million expected

• Climate protection continues to be a top priority: doubling of photovoltaic
area to about 45 hectares – Next climate target: net zero in 2033

“Significant growth in passenger traffic spurs business performance of Flughafen
Wien AG – Substantial increase in revenue and earnings – Net zero by 20233 is
the next climate target”

“The increase in travel is also driving the business performance of the
Flughafen Wien Group. Revenue in Q1/2023 rose 63% to € 180.4 million, and the
net profit improved to € 25.0 million. The increased investment activity such as
the spacious Southern Expansion terminal project and the further rise in the
airport’s own electricity production based on photovoltaic plants can be
financed from the cash flow without the need for external borrowing. In turn,
this also enhances the company’s enterprise value. The Flughafen Wien AG share
reached a new all-time high of € 42.45 on 10 May 2023, featuring a market
capitalisation of about € 3.66 billion. Vienna Airport will double its
photovoltaic capacities to cover about 50% of its future electricity
requirements through solar power. The airport has already been operating in a
CO₂ neutral manner since January 2023. Our next goal is to achieve net zero by
2033,” states

Günther Ofner, Member of the Management Board of Flughafen Wien AG.

“April 2023 rise in passenger traffic in the Easter holidays – good summer
travel season expected – growth in gastronomy and retail”

“Travel demand is high: in April 2023, Vienna Airport already registered around
90% of the pre-crisis level with 2.5 million passengers. Airlines are expanding
their flight offering and the offered seat capacities are around 90% of the
pre-crisis level. We are therefore expecting a good summer travel season and
intensively preparing for it. We offer our passengers a high quality of service
and also numerous new restaurants such as a new panorama bar at the C-Gates, the
modernised panorama restaurant Zugvogel, the first Costa Coffee shop in Austria,
new Billa Corso and Burger King outlets in the arrivals hall and a lot more.
Revenues in the gastronomy and retail sectors are growing strongly. Vienna as an
aviation location is on the upswing again and the modernization and expansion of
the long-haul fleet of Austrian Airlines with ten Boeing 787 from 2024 is of
important strategic significance in this respect,” says a pleased Julian Jäger,
Member of the Management Board of Flughafen Wien AG.

January to March 2023: 2.1 million passengers at Vienna Airport

Passenger volume at Vienna Airport rose considerably in the first three months
of 2023 compared to low level of passenger traffic in the first quarter of 2022
related to the coronavirus pandemic. From January to March 2023, the Flughafen
Wien Group including the foreign strategic investments in Malta Airport and
Kosice Airport reported a year-on-year increase in passenger traffic of 82.0% to
6,661,802 passengers. The number of passengers handled by Vienna Airport was up
to 5,325,201 travellers (+81.5%). The number of flight movements from January to
March 2023 rose to 43,471 take offs and landings. The average capacity
utilisation of the aircraft (seat load factor) in the first three months of 2023
showed a substantial increase from 62.40% in the prior-year period to 75.6% (vs.
70.7% in Q1/2019). Cargo volume (air cargo and trucking) at Vienna Airport
declined by 3.5% year-on-year to 58,874 tonnes. Malta Airport registered an
increase to 1,245,525 travellers in Q1/2023 (+85.1%). Kosice Airport also
reported growth, handling 91,076 passengers (+68.7%) in the first three months
of 2023. Both strategic foreign investments recorded higher passenger volumes
over the last few months compared to 2019.

Q1/2023: Sharp revenue increase to € 180.4 million (+62.6%), net profit for the
period up to € 25.0 million.

Revenue of the Flughafen Wien Group in Q1/2023 amounted to € 180.4 million,
comprising an increase of 62.6% from the previous year. EBITDA was up
year-on-year to € 66.8 million and EBIT climbed to € 34.8 million. The net
profit for the period before non-controlling interests in Q1/2023 increased to €
25.0 million. The operating free cash flow in Q1/2023 equalled € 89.6 million
(Q1/2022: € 21,4 million).

Revenue and earnings development of the segments

Q1/2023 revenue of the Airport Segment increased from the prior-year period to €
81.4 million, and segment EBIT improved to € 9.2 million. The Handling and
Security Services Segment registered a rise in revenue to € 37.1 million, with
the segment’s EBIT up to € 2.6 million. This segment also includes the security
services of VIAS as well as the handling services provided by Vienna Aircraft
Handling (VAH) and Vienna Passenger Handling Services (VPHS). The Retail &
Properties Segment reported a rise in revenue in Q1/2023 to € 36.5 million,
whereas EBIT of this segment fell to € 14.6 million due to positive one-off
effects in the prior-year quarter. Revenue of the Malta Segment was up to € 18.9
million in Q1/2023. Segment EBIT totalled € 6.2 million.

Capital expenditure

In the first three months of 2023, a total of € 15.2 million (Q1/2022. € 10.1
million) was invested in intangible assets and property, plant and equipment as
well as investment property or paid as advance payments. The largest investment
projects at Vienna Airport included € 1.7 million for the Southern Expansion
project, € 2.4 million for the Lima Pier East and West runways, € 1.2 million in
connection with the sorter in Terminal 3 as well as € 0.8 million for
adaptations to the exit/entry system in the terminal. A total of € 2.7 million
was invested at Malta Airport in the first three months of 2023.

Forecast for passenger development in 2023: Approx. 32-34 million passengers
expected in the Flughafen Wien Group and about 26-27 million at Vienna Airport

A further upswing in passenger traffic will take place in 2023. Vienna Airport
confirms its forecast of about 26-27 million travellers in the entire year 2023,
and approx. 32-34 million passengers are expected in the Flughafen Wien Group
(including its strategic foreign investments).

Financial guidance for 2023

Due to the positive outlook, the net profit for the year should improve to € 150
million, whereas revenue is expected to reach a level of about € 830 million and
EBITDA will equal at least € 325 million. Capital expenditure will rise to
approx. € 135 million. All investments will be financed from the cash flow, and
no external borrowing is required.
Traffic development in April 2023: Upward trend continues

Flughafen Wien Group: 3.2 million passengers in April 2023

In April 2023, the Flughafen Wien Group (Vienna Airport, Malta Airport and
Kosice Airport) reported a strong rise in passenger traffic to 3,215,252
travellers (+37.5% vs. April 2022). Accordingly, passenger volume of the
Flughafen Wien Group in April 2023 comprised 93.7% of the comparable figure for
April 2019, and thus only slightly below the level in the year before the
outbreak of the coronavirus pandemic.

Vienna Airport: 2.5 million passengers in April 2023

Passenger volume at Vienna Airport in the month of April 2023 showed a strong
improvement compared to the previous year, with the number of passengers up to a
total of 2,465,229 travellers (+37.7%). Accordingly, the total number of
passengers handled in April 2023 was 89.9% of the passenger volume in April 2019
and thus only slightly below the pre-crisis level.

Traffic results in detail

The number of local passengers at Vienna Airport in April 2023 increased
year-on-year to 1,894,460 (+38.2%), whereas the number of transfer passengers
rose to 564,522 (+38.1%). Flight movements were up to 18,666 in April 2023
(+23.0% vs. April 2022). The air cargo business reported a volume of 20,664
tonnes, down 5.8% from the pre-crisis level of April 2019.

The total number of passengers at Vienna Airport flying to destinations in
Western Europe in April 2023 climbed to 844,058 (+32.2% from April 2022),
whereas Eastern European traffic rose to 198,006 passengers (+42.1%). Passenger
traffic to North America was up from the prior-year level to 33,269 travellers
(+47.0%), and the number of passengers flying to Africa increased to 31,046
(+38.1%). Passenger volume to the Middle East rose to 82,377 travellers
(+50.4%), and the number of passengers flying to Far Eastern destinations
climbed to 34,414 in April 2023 (+ 183.8%).

Malta Airport reported an increase in passenger volume in the month of April
2023 to 708,388

(+37.8%), or 8.4% above the pre-crisis level in 2019. The total number of
passengers handled by Kosice Airport rose to 41,635 (+22.3%), or 26.3% higher
than the comparable pre-crisis figure in 2019.

Details on traffic results for April 2023 can be found in the table below.

Disclaimer

All statements made in this press release that refer to future developments of
Flughafen Wien AG/Flughafen-Wien-Group are based on current assumptions and
forecasts of the management. If the premises for these forecasts do not occur or
risks indicated in the risk report arise, actual results may vary from these
estimates. Despite the utmost care, all forward-looking statements are therefore
made without guarantee and Flughafen Wien AG/Flughafen-Wien-Group assumes no
obligation to update these forward-looking statements or to conform them to
future events or developments.

Traffic development April 2023

Vienna Airport (VIE)

04/2023 04/2022 04/2019 01-04/2023 Diff. % Diff %
2022 2019
Passengers 2,465,229 1,790,275 2,744,184 7,790,430 +64.9 -11.5
arr+dep+transit
Local passengers arr+dep 1,894,460 1,370,974 2,094,419 6,086,372 +63.6 -11.5
Transfer passengers 564,522 408,864 624,270 1,680,856 +71.6 -9.8
arr+dep
Flight movements arr+dep 18,666 15,174 22,842 62,137 +36.6 -21.5
Cargo arr+dep (in 20,664 21,934 23,535 79,537 -4.1 -11.8
tonnes)
MTOW (in tonnes) 776,703 640,276 943,168 2,599,735 +33.4 -20.0

Malta Airport (MLA, fully consolidated)

04/2023 04/2022 04/2019 01-04/2023 Diff. % Diff %
2022 2019
Passengers 708,388 513,979 653,258 1,953,913 +64.6 +5.3
arr+dep+transit
Local passengers arr+dep 704,398 512,819 647,740 1,945,959 +64.2 +5.5
Transfer passengers 3,986 1,160 5,518 7,944 +283.4 -27.1
arr+dep
Flight movements arr+dep 4,680 3,757 4,547 13,505 +38.6 -4.1
Cargo arr+dep (in 1,298 1,248 1,334 5,909 +25.4 +12.6
tonnes)
MTOW (in tonnes) 182,193 144,084 170,669 530,659 +41.6 -0.4

Kosice Airport (KSC, consolidated at equity)

04/2023 04/2022 04/2019 01-04/2023 Diff. % Diff %
2022 2019
Passengers 41,635 34,049 32,974 132,715 +50.7 +13.5
arr+dep+transit
Local passengers arr+dep 41,635 34,049 32,974 132,715 +50.9 +13.8
Transfer passengers 0 0 0 0 n.a. n.a.
arr+dep
Flight movements arr+dep 327 311 408 1,046 +29.0 -31.2
Cargo arr+dep (in 0 225 1 0 -84.4 -99.8
tonnes)
MTOW (in tonnes) 10,017 9,865 9,182 32,843 +25.9 -0.5

Vienna Airport and strategic investments (VIE, MLA,
KSC)

04/2023 04/2022 04/2019 01-04/2023 Diff. % Diff %
2022 2019
Passengers 3,215,252 2,338,303 3,430,416 9,877,058 +64.7 -8.4
arr+dep+transit
Local passengers arr+dep 2,640,493 1,917,842 2,775,133 8,165,046 +63.5 -7.7
Transfer passengers 568,508 410,024 629,788 1,688,800 +72.0 -9.9
arr+dep
Flight movements arr+dep 23,673 19,242 27,797 76,688 +36.8 -19.1
Cargo arr+dep (in 21,962 23,182 24,870 85,447 -2.5 -10.5
tonnes)
MTOW (in tonnes) 968,913 794,225 1,123,019 3,163,237 +34.6 -17.1

Note: Total number of passengers includes local, transfer and transit
passengers,
Traffic data adjusted

Consolidated Income Statement

in € million Q1/2023 Q1/2022
Revenue 180.4 110.9
Other operating income 2.9 11.6
Operating income 183.3 122.5

Expenses for consumables and services used -17.7 -10.7
Personnel expenses -75.7 -51.5
Other operating expenses -23.2 -13.5
Impairment/reversals of impairments on receivables 0.1 -0.3
Proportional share of income from companies recorded at equity -0.0 -0.3
Earnings before interest, taxes, depreciation and amortisation
(EBITDA) 66.8 46.3

Depreciation and amortisation -32.0 -33.9
Earnings before interest and taxes (EBIT) 34.8 12.4

Income from investments, excluding companies recorded at equity 2.0 0.1
Interest expense -3.2 -3.4
Other financial result 0.3 -0.0
Financial result -0.9 -3.4

Earnings before taxes (EBT) 33.9 9.0

Income taxes -9.0 -2.3
Net profit for the period 25.0 6.7

Thereof attributable to:
Equity holders of the parent 23.0 6.5
Non-controlling interests 2.0 0.2

Earnings per share
(in €, basic = diluted) 0.27 0.08

Balance Sheet Indicators

in € million 31.3.2023 31.12.2022
ASSETS:
Non-current assets 1,670.9 1,687.9
Current assets 614.2 537.1

LIABILITIES:
Equity 1,474.0 1,448.5
Non-current liabilities 480.2 483.0
Current liabilities 331.0 293.5

Total assets 2,285.1 2,224.9

Net liquidity 223.6 149.4
Gearing (in%) -15.2 -10.3

Cash Flow Statement

in € million Q1/2023 Q1/2022
Net cash flow from operating activities 89.6 21.4
                investing activities -153.0 -80.2
                financing activities -8.5 -26.1

Free cash flow -63.3 -58.8

CAPEX ^1 15.2 10.1

1) 1) Excluding financial assets

The Annual Report and Financial Report of Flughafen Wien AG for 2023 from
January 1 to March 31, will be available to the general public on the Internet
at

http://viennaairport.com/en/company/investor_relations/publications_and_reports.

Vienna Airport, 16 May 2023

The Management Board

Contact: Corporate Communications of Flughafen Wien AG

Pressestelle
Peter Kleemann
Tel.: (+43-1-) 7007-23000
E-Mail: [1]p.kleemann@viennaairport.com

Investor Relations
Bernd Maurer
Tel.: (+43-1-) 7007-23126
E-Mail: b.maurer@viennaairport.com

Website: [2] www.viennaairport.com

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16.05.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Austria
Phone: +43-1-7007/23126
Fax: +43-1-7007/23806
E-mail: investor-relations@viennaairport.com
Internet: http://www.viennaairport.com
ISIN: AT00000VIE62
WKN: A2AMK9
Indices: ATX PRIME
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt
(Basic Board), Munich, Stuttgart, Tradegate Exchange; London,
Nasdaq OTC, Vienna Stock Exchange (Official Market)
EQS News ID: 1633653

End of News EQS News Service

1633653  16.05.2023 CET/CEST

References

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