euro adhoc: Austrian Airlines AG / Annual Reports / Strong Improvement in Operating Performance and Result Situation despite Extraordinary Effects

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annual report

07.03.2007

Financial result of Austrian Airlines Group for business year 2006

Offering an overview of the Austrian Airline Group's annual results,
which were released today, Chief Executive Officer Alfred Ötsch
said: "In the business year 2006, the Austrian Airlines Group
has introduced crucial restructuring steps and started out on an
important new course. We have significantly improved our
operating performance and result. The key factors in this have
been the increase in our flight revenue and the significantly
stronger growth in our yields compared to unit costs. On the other
hand, extraordinary effects - overwhelmingly the result of the
restructuring of the Group's long-haul segment and the personnel
cost provisions this necessitated - had a negative influence on the
result. In this challenging environment, it proved impossible to
achieve a positive result. Following the successful conclusion
of the capital increase, however, we have taken another
important step towards completing our restructuring programme,
and are now in a position to implement key measures more
quickly. We are pursuing a clear strategy focussing on the markets
of Central and Eastern Europe, basing that strategy on a well-
established, strong brand. We shall continue to move forward
with our quality and product offensive in 2007."

Improvement in result situation Although the adjusted EBIT of the
Group remained marginally negative at EUR -8.3m, this figure was up
by EUR 43.7m, a major improvement on the previous year. The
unadjusted EBIT including extensive extraordinary positions -
mainly provisions for the redimensioning of long-haul routes,
exchange rate gains and value adjustments for Slovak Airlines -
improved from EUR -100.0m to EUR -89.0m.

Overall, this produced an annual result of EUR -129.9m (2005: EUR
-129.1m). However, one of the most important factors in this result
trend, which was below expectations, were the continuing high
kerosene prices experienced in 2006, which generated total additional
costs for the Group of EUR 75.7m.

An Overview of the Annual Result 2006

Key Figures | |2006 |2005 |+/- abs. |+/- % |
Revenue |EURm |2,593.2 |2,392.9 |200.3 |8.4 |
Operating revenue |EURm |2,662.8 |2,485.8 |177.0 |7.1 |
Operating expenses|EURm |-2,751.8 |-2,585.8 |-166.0 |-6.4 |
EBITDAR |EURm |277.2 |303.5 |-26.3 |-8.7 |
EBITDAR adjusted 1|EURm |348.7 |319.4 |29.3 |9.2 |
EBIT 2 |EURm |-89.0 |-100.0 |11.0 |11.0 |
EBIT adjusted 2,3 |EURm |-8.3 |-52.0 |43.7 |84.0 |
Financial result |EURm |-49.1 |-29.6 |-19.5 |-65.9 |
Result before tax |EURm |-138.1 |-129.6 |-8.5 |-6.6 |
Result before tax
adjusted 3 |EURm |-50.1 |-94.9 |44.8 |47.2 |
Result from

continued business divisions |EURm |-139.6 |-131.3
|-8.3 |-6.3 | Result from continued business divisions

adjusted 3 |EURm |-51.6 |-96.6 |45.0 |46.6 |
Annual result |EURm |-129.9 |-129.1 |-0.8 |-0.6 |
Net cash flow
from operating| | | | | |
activities |EURm |360.2 |259.8 |100.4 |38.6 |
Net gearing |% |91.2 |191.6 | | |
Equity ratio |% |24.5 |17.7 | |6.8 P. |

Passengers carried total |Passengers|10,834,668|
10,119,773 | |7.1 | Passenger load factor
(scheduled

services) |% |74.0 |73.8 | |0.2 P. |
Cargo |Tons |171,284 | 160,992 | |6.4 |
Legend:
1. Adjusted by the result from the disposal of assets, other costs of the
transfer of aircraft and foreign currency valuations at the reporting
date and the value adjustment at Slovak Airlines.
2. Before incorporation of associated companies.
3. Adjusted by the result from the disposal of assets, other costs of the
transfer of aircraft, foreign currency valuations at the reporting
date, and recovery/impairment of the value of aircraft and the value
adjustment at Slovak Airlines.

end of announcement euro adhoc 07.03.2007 07:10:19
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ots Originaltext: Austrian Airlines
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Konzernkommunikation:
Livia Dandrea-Boehm
Johann Jurceka
Tel.: 051766-1231

Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3700

Branche: Air Transport
ISIN: AT0000620158
WKN: 875224
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing


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