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Vienna Airport

  • PAX: 31,662,189
  • IATA: VIE
  • ICAO: LOWW

Flughafen Wien Group: 11.6% increase in net profit to € 38.1 million for the first half of 2010

The Flughafen Wien Group recorded revenue of € 253.2 million for the first half of 2010

  • EBITDA: + 6.9% to € 85.7 million
  • EBIT: + 12.7% to € 52.6 million
  • Net profit: + 11.6% to € 38.1 million
  • Passengers: + 5.5% to 8,899,368
  • Upward revision of forecasts for 2010: + 6.0% in passengers, + 7.0% in maximum take-off weight (MTOW) and + 1.0% in flight movements

The Flughafen Wien Group recorded revenue of € 253.2 million for the first half of 2010, which
represents an increase of 3.5% over the comparable prior year period. Net profit for the period rose by 11.6% - at a higher rate than the development of traffic - to € 38.1 million (1-6/2009: € 34.1 million). EBITDA amounted to € 85.7 million (+6.9%) and EBIT € 52.6 million (+12.7%) for the reporting period. The stronger earnings growth in relation to the development of revenue was reflected in an improvement in the EBITDA margin to 33.8% (1-6/2009: 32.8%) and the EBIT margin to 20.8% (1-6/2009: 19.1%).

"Flughafen Wien AG was able to generate sound earnings in the first half-year, and that underscores our position as a strong and profit-oriented company. The development of traffic also exceeded our expectations. We have therefore revised our forecasts upward and are now predicting an increase of 6% in passengers for the year", explained Herbert Kaufmann, Speaker of the Management Board of Flughafen Wien AG.


Segment revenue

The Flughafen Wien Group recorded revenue of € 253.2 million for the first half of 2010, which
represents an increase of 3.5% over the comparable prior year period. The revenue increase was less than the growth in traffic due to an increase in incentives - above all the transfer incentive - to drive traffic growth. External revenue recorded by the Airport Segment rose by 17.2% to € 124.8 million. This development resulted above all from a change in the allocation of revenue from passenger and baggage controls, which were previously assigned to the Handling Segment. The change in allocation was also responsible for a € 9.6 million decline in Handling Segment revenue to € 76.6 million. The Retail & Properties Segment reported a 2.3% increase in revenue to € 44.7 million, while revenue registered by the "Other Segments" declined € 1.1 million to € 6.7 million.

Growth of 5.5% in traffic during the first half of 2010 in spite of the ash cloud

Vienna International Airport handled a total 8,899,368 passengers from January to June 2010. This represents an increase of 5.5% over the comparable prior year period and was achieved despite the negative effects of the volcanic ash cloud on air traffic throughout Europe. The increase in passenger traffic at Vienna during these six months was more than twice the average of the 30 largest airports in Europe. The number of passengers travelling to Eastern Europe and Western Europe rose by 8.0% and 4.5%, respectively. Traffic to the Middle East was 11.5% higher. Sound growth of 5.2% was recorded in travel to North America, with destinations in the USA registering a plus of 6.8%. The Austrian Airlines Group reported an 11.3% increase in the number of passengers handled at Vienna International Airport, which raised its share of total passenger traffic from 48.7% to 51.4%. The lowcost carriers handled 21.8% of the passengers in Vienna (1-6/2009: 23.9%), for a decline of 4.0% in relation to the previous year. Maximum take-off weight (MTOW) totalled 3,744,236 tonnes, for a plus of 7.2% over the comparable prior year period. Cargo volume (air cargo and trucking) increased 30.4% to 148,353 tonnes. The number of flight movements declined slightly to 119,167. Seat occupancy rose from 65.9% in the first half of 2009 to 66.1% for the reporting period.

Corporate spending

The major investments during the first six months of 2010 involved the terminal extension VIE Skylink at € 22.4 million, technical noise protection and the environmental fund at € 3.0 million, infrastructure extensions for the west expansion at € 1.7 million, passenger security control lines at € 1.3 million and baggage sorting equipment at € 1.2 million.

Outlook

The July report shows positive development in all traffic segments. In comparison with July of the
previous year, the number of passengers handled in Vienna rose by 11.3%. With over two million
travellers, Vienna International Airport set a new monthly record in July 2010. Flight movements
increased 0.8% and maximum take-off weight (MTOW) 10.7%. The number of passengers handled during the period from January to July 2010 was 6.6% higher than in the comparable prior year period.

Based on the encouraging development of business, Flughafen Wien AG has adjusted its traffic
forecasts for 2010 to show an increase of 6.0% in the number of passengers, 7.0% in maximum takeoff weight (MTOW) and 1.0% in flight movements for the full 12 months of 2010.

Investments of € 207.0 million are planned for 2010. This amount includes replacement and
maintenance investments, but no investments in the third runway, the purchase of land or borrowing costs capitalised during construction.

For additional information contact:


Flughafen Wien AG Press Office:
Peter Kleemann (+43-1-) 7007-23000
Birgit Fehsler (+43-1-) 7007-22254
Clemens Schleinzer (+43-1-) 7007-22399
p.kleemann@viennaairport.com
c.schleinzer@viennaairport.com
b.fehsler@viennaairport.com
Homepage: www.viennaairport.com

Investor Relations:
Mario Santi (+43-1-) 7007-22826
39/10 KP/PK 26. August 2010
m.santi@viennaairport.com