Q1 review: powerful take-off into 2024 FWAG released sound Q1 results, in line with our estimates. While top-line was driven by solid passenger growth, bottom-line benefitted from a positive financial result and grew disproportionately. In detail: Upbeat winter travel grew top-line: Against last year's muted outlook, Q1 passengers numbers ros [ … ]

Positive traffic results; guidance too conservative; chg. est. Yesterday, FWAG released March '24 traffic results ahead of our estimates: In March, group passenger numbers rose by 12% yoy to 2.88m (eNuW: 2.80m). Vienna (VIE) grew by 8% yoy to 2.21m passengers (eNuW: 2.21m) despite the strike by Austrian Airlines' employees at the end of the m [ … ]

Upbeat traffic results - demand for air travel remains strong; chg. Topic: Yesterday, FWAG released better-than-expected Feb'24 traffic results showing that air travel demand remains unbroken. Last month, Group passengers rose by a strong 18% yoy to 2.38m passengers (eNuW: 2.21m). While Vienna grew strongly by 17% yoy to 1.88m passengers (eNu [ … ]

Record FY'23, dividend hike and better outlook; chg. est. & PT Topic: Yesterday, FWAG released FY'23 prelims which came in better than expected. Moreover, management proposed a nearly doubled dividend and hinted towards a conservative passenger guidance. Sales remained elevated and showed strong growth of 26% yoy to € 232m in Q4 (FY' [ … ]

Taking off well into the year; chg. ests. Topic: FWAG released January traffic results last week, which came in better than expected. Moreover, the Athens International Airport IPO gives a read across for FWAG's valuation. Strong start into the year: In January, the group started strongly into the year with double digit passenger growth of 12 [ … ]

FY’24 guidance out – solid outlook for the year Topic: FWAG released its FY ’24 guidance, indicating a solid outlook for the year. Moreover, Dec ’23 traffic results came in slightly better than expected. Guidance in line with estimates: FWAG expects c. € 970m sales (eNuW: € 965m), at least € 390m EBITDA  [ … ]

Solid November traffic figures underpin sound operations Topic: Yesterday, FWAG released Nov '23 traffic results in line with seasonality and our estimates. In November, 2.67m passengers (+14% yoy; 92% of 2019 levels) were handled by FWAG, in line with seasonality and our estimates (eNuW: 2.63m). While the 8pp gap to 2019 levels can be explai [ … ]

Record Q3 results thanks to a perfect summer, chg. est. & PT up Topic: FWAG released record Q3 results and strong October traffic results, showing excellent operating performance throughout the summer as well as a strong start into Q4. Q3 sales came in strong at € 271m, +27% yoy (eNuW: € 267m; eCons: € 262m) thanks to super [ … ]