Significant increases in passenger volumes, revenue and net profit thanks to ongoing growth
EQS-News: Flughafen Wien AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
Flughafen Wien AG in Q1-3/2023 continues on the road to success: Significant increases in passenger volumes, revenue and net profit thanks to ongoing growth Strong autumn season: October 2023 passenger traffic at Vienna Airport only slightly below the pre-crisis level of 2019 at 96.2%
“Vienna Airport remains on the road to success – substantial earnings improvement – own photovoltaic facilities will cover about 50% of the airport’s own electricity consumption” “The desire of passengers to travel is continuing unabatedly, and correspondingly the success path at Vienna Airport as well. In the first three quarters of 2023, revenue rose by 37.7% and the net profit for the period by 58.5%. EBITDA and EBIT also improved substantially, and the company is debt-free. Vienna Airport is laying the foundation for further growth i.e., construction preparations for the South Extension project have commenced, work on building the third hotel at the site will begin soon and construction of the Helios Logistics Park is progressing rapidly. The airport is supporting the dynamic further development of the flight hub with its own sustainability drive. Photovoltaic capacities are being doubled to 45 hectares. Thanks to about 100,000 solar panels, the airport will generate approx. 50% of its annual electricity needs itself using solar power,” explains Günther Ofner, Member of the Management Board of the airport operating company Flughafen Wien AG.
“Capacity utilisation of aircraft above the pre-crisis level – 12% increase in passenger volume in October – strong winter flight schedule featuring 160 destinations” “The desire to travel is continuing in the autumn season following a strong summer. With 22.5 million passengers in the period January to September 2023, total passenger volume was at 93.9% of the record year 2019. Capacity utilization of the aircraft grew even more strongly to 81.1% or 3.6 ppts above 2019. This shows that considerably fewer aircraft are still in the air than before the pandemic. October 2023 also developed very well, recording 12% growth year-on-year. Thus, the recovery is continuing, and the winter flight schedule with 160 directly accessible destinations, new travel destinations in Europe and an expanded long-haul offering is also contributing to the upward trend. This winter all travellers can take advantage of our new shopping and catering offerings such as the new “Daily Bar” of Figlmüller, the newly designed panorama restaurant “Zugvogel” and even more in the near future. The new South Extension of Terminal 3 featuring 70,000 m² of additional terminal space for lounges, shopping and food and beverages will open in 2027. Preparations for construction have already begun,” states a pleased Julian Jäger, Member of the Management Board of Flughafen Wien AG.
The recovery of flight traffic also continued in the third quarter following a strong first half-year 2023. Demand for air travel is once again at a similar level as before the pandemic. In the period January to September 2023, passenger traffic at Vienna Airport rose by 29.1% from the previous year to 22,495,652 travellers, or 93.9% of the pre-crisis level of 2019. The number of local passengers rose 32.3% to 17,245,753 travellers, whereas transfer passenger traffic was up 19.6% to 5,191,128 people. The average capacity utilisation of the aircraft (seat load factor) also showed a substantial improvement, rising 3.9 ppts year-on-year to 81.1% in Q1-3/2023 and thus also 3.6 ppts vs. the comparable figure for Q1-3/2019. This upward trend is also clearly visible with respect to the foreign strategic investments of Flughafen Wien AG. Both Malta Airport and Kosice Airport recorded clearly higher passenger volumes in Q1-3/2023 compared to the previous year. Passenger traffic at Malta Airport was up 35.6% to 5,973,824 travellers, whereas Kosice Airport showed a 15.5% increase to 515,462 people. Q1-3/2023: Considerable revenue increase to € 699.4 million (+ 37.7%) and rise in the net profit for the period to € 173.3 million In Q1-3/2023, the Flughafen Wien Group generated revenue of € 699.4 million, comprising a year-on-year increase of 37.7%. This upward revenue development was mainly driven by the significant growth in passenger volumes, higher passenger and aircraft-related income combined with improved Center & Hospitality Management and parking fees. EBITDA rose to € 332.2 million from the previous year whereas EBIT climbed to € 234.9 million. The net profit for the period before non-controlling interests climbed to € 173.3 million in Q1-3/2023. The cash flow from operating activities showed a substantial increase to € 286.1 million (Q1-3/2022: € 234.6 million). Improved revenue development in all segments Q1-3/2023 revenue of the Airport Segment climbed from the prior-year period to € 332.1 million, mainly because of the significant passenger increase in the period under review, and segment EBIT improved to € 99.2 million. The Handling & Security Services Segment registered higher revenue of € 121.6 million, with the increase driven by the rise in flight movements. Segment EBIT rose to € 7.3 million. The Retail & Properties Segment reported a rise in revenue in Q1-3/2023 to € 135.4 million, which is primarily related to the increased shopping, catering and parking income resulting from increased passenger traffic. EBIT of this segment climbed to € 63.9 million. Revenue of the Malta Segment was up to € 91.6 million in Q1-3/2023. Segment EBIT totaled € 48.8 million.
Capital expenditure
Forecast for passenger development in 2023: More than 36.5 million passengers expected in the Flughafen Wien Group and upwards of 28.5 million at Vienna Airport
Financial guidance 2023 We affirm the guidance published in August which showed a considerable upward revision. We expect to significantly outperform the originally announced figures (revenue of about € 830 million, EBITDA of at least € 325 million, net profit for the period before non-controlling interests of over € 150 million). Capital expenditure should equal approx. € 100 million in 2023.
Traffic development in October 2023: Strong autumn season with passenger volumes only slightly below the pre-crisis level
Flughafen Wien Group: 3.6 million passengers in October 2023, only 1% lower than before the crisis Vienna Airport: 2.7 million passengers in October 2023, only slightly below the pre-crisis level Traffic results in detail Malta Airport reported an increase in passenger volume in the month of October 2023 to 771,253
Details on traffic results can be found in the table below. Traffic Development October 2023
Note: Total number of passengers includes local, transfer and transit passengers, Traffic data adjusted.
Consolidated Income Statement
Balance Sheet Indicators
Cash Flow Statement
1) Excluding financial assets
The Annual Report and Financial Report of Flughafen Wien AG for 2023 from January 1 to September 30th, will be available to the general public on the Internet at http://viennaairport.com/en/company/investor_relations/publications_and_reports.
Vienna Airport, 16 November 2023 The Management Board
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.
Contact: Corporate Communications of Flughafen Wien AG
Press Office Tel.: (+43-1-) 7007-23000 E-Mail: p.kleemann@viennaairport.com Investor Relations Tel.: (+43-1-) 7007-23126 E-Mail: b.maurer@viennaairport.com
16.11.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com |
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: | 1774549 |
End of News | EQS News Service |
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1774549 16.11.2023 CET/CEST