EANS-News: Flughafen Wien AG Results in H1/2015: Increased Revenue and Earnings despite the slight Decline in Passenger Volume

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quarterly report/FWAG: Q2/2015

Flughafen Wien AG Results in H1/2015: Increased Revenue and Earnings
despite the slight Decline in Passenger Volume

* REVENUE up 2.2% to EUR 311.5 million, improvement in EBITDA to EUR
132.7 million (+4.9%) and EBIT to EUR 68.6 million (+8.6%)

*NET PROFIT FOR THE PERIOD rose significantly to EUR 47.6 million
(+8.1%) (Net profit for the period after non-controlling interests)

*NET DEBT: further substantial reduction to EUR 468.0 million

*TRAFFIC RESULTS IN JULY 2015: 6.7% increase in the number of
passengers - highest single-day passenger volume in the airport's
history

*POSITIVE OUTLOOK confirmed for 2015: revenue of more than EUR 645
million, net profit to surpass EUR 85 million, passenger growth
between 0% and 2%

In spite of a slight decline of 0.8% in passenger volume in the first
half of 2015, the Flughafen Wien Group reported a substantial
improvement in revenue and earnings. Revenue was up 2.2% to EUR 311.5
million, EBITDA rose by 4.9% to EUR 132.7 million, EBIT climbed 8.6%
to EUR 68.6 million and the net profit for the period was up 8.1% to
EUR 47.6 million. A significant further reduction of net debt was
achieved thanks to the strong cash flow. Flughafen Wien AG confirms
its guidance for the entire year 2015, and expects passenger growth
of between 0% and 2% as well as an increase in revenue and net profit
for the period and a further decrease in the net debt.

"The first half-year was very successful despite the slight decline
in the number of passengers handled by the airport. We managed to
generate a disproportionately high increase in revenue and
significantly improve earnings indicators. Thanks to strict cost
discipline and productivity increases, the net profit for the period
rose by 8.1%, and the strong cash flow served as the basis for a
further substantial reduction in net debt", says Günther Ofner,
Member of the Management Board of Flughafen Wien AG. "We are
exploiting new market potential on the basis of new service offerings
such as online parking and the further development of our Airport
City with new services such as the new Moxy Hotel, an automobile
cleaning service and a new fitness center. We are resolutely
continuing on this path and from today's perspective will also
achieve our earnings targets for 2015", Günther Ofner adds.

"A key driver for the revenue increase in the first half of 2015 were
higher shopping and gastronomy income, which shows that we are on the
right path with our strategy of bringing more quality and new brands
to the passenger terminal", states Julian Jäger, Member of the
Management Board of Flughafen Wien AG. "We also see positive
developments in terms of our traffic results. On July 31st, we
recorded the highest passenger volume for a single-day in the
airport's history. We also expect positive growth impetus in the
remaining months of the year, not least due to new long-haul
offerings on the part of Austrian Airlines and other new flight
connections. We anticipate a slightly higher passenger volume for the
entire year 2015", Julian Jäger adds.

Slight passenger decline in H1/2015 - Forecast confirmed for the
entire year 2015

In the first six months of 2015, a total of 10,456,454 passengers
were handled by Vienna Airport, comprising a slight year-on-year drop
of 0.8%. This development can be attributed to capacity reductions
carried out by airlines and the consequences of the crisis situations
in Russia and the Ukraine. Total passenger volume to Eastern Europe
fell by 10.4%, whereas the number of passengers flying to Western
European destinations was down marginally by 0.6%. In contrast,
passenger volume to the Middle East developed positively, rising by
2.7%, and the expanding flight offering to Far Eastern destinations
led to a 4.6% growth in the number of passengers. North American
destinations saw a substantial increase of 16.3%, and the total
number of passengers flying to Africa was up by 30.2%. Air traffic
forecasts for 2015 as a whole remain unchanged, predicting growth of
between 0% and 2% in the total number of passengers.

Average seat occupancy (seat load factor) fell to 71.5% in the first
half of 2015 from the prior-year level of 73.1%. During the same
period, the number of flight movements declined by 2.2% to 109,980
starts and landings. In contrast, due to the use of larger aircrafts
the absolute number of passengers per flight actually increased, with
passenger volume developing more favorably than the average seat
occupancy and number of flight movements. The maximum take-off weight
(MTOW) rose by 2.7% to 4,014,756 tonnes. Cargo volume (air cargo and
trucking) in the first half of 2015 was down slightly by 0.6% to
130,024 tonnes.

Revenue and earnings development in the segments

In the first six months of 2015, revenue of the Airport Segment rose
2.0% year- on-year to EUR 166.7 million. Revenue generated by the
Handling Segment climbed 2.1% to EUR 73.6 million. The Retail &
Properties Segment reported a consider- able rise in revenue of 3.4%
to EUR 63.4 million. Revenue in the Other Segments was unchanged at
EUR 7.7 million.

Investments

Of the total investments amounting to EUR 24.6 million in the first
half of 2015, EUR 10.7 million related to winter services and
equipment storage halls, whereas investments made in connection with
Runway 3 totaled EUR 4.0 million, and EUR 1.3 million was for cooling
units and EUR 0.8 million for a transformer station. Investments are
expected to be well below EUR 95 million.

Traffic development in July 2015: 6.7% increase in passenger volume

The number of passengers handled by Vienna Airport in July 2015 was
up 6.7% compared to July 2014 to 2,363,785. A total of 88,652
passengers were handled by Vienna Airport on July 31, 2015, a record
single-day passenger volume in the airport's history. In July 2015,
the number of local passengers was up 7.3% from the previous year,
whereas the total volume of transfer passengers also increased,
rising by 5.5% compared to July 2014. The number of flight movements
(starts and landings) was down 0.6%, and the development of the
maximum take-off weight (MTOW) was clearly positive, rising by 5.0%.
Air cargo declined by 1.8% in July 2015 compared to the prior-year
level. Cumulative passenger volume in the months January to July 2015
was up 0.5% from the previous year.

The number of passengers flying to Western Europe and Eastern Europe
in July 2015 rose by 7.3% and 3.1% respectively. Passenger traffic to
the Middle East was up sharply by 42.5%, compared to an increase of
8.3% for Far Eastern destinations. Passenger growth to North America
climbed by 6.0%. In July 2015 the number of passengers flying to
Africa dropped by 10.9% from the previous year.

Good development of strategic investments in Malta and Kosice

The foreign strategic investments of the Flughafen Wien Group
developed well. Malta Airport reported a cumulative passenger growth
of 6.9% from January to July 2015 to more than 2.5 million passengers
in the first seven months of the year. Kosice Airport handled a total
of 215,149 passengers, comprising a rise of 11.0% in the same period.

Results in detail

July 2015 Change in % January-July Change in %
2015
Passengers
(total): 2,363,785 +6.7 12,820,415 +0.5

Local
passengers: 1,637,910 +7.3 9,249,258 +2.8

Transfer
passengers: 716,946 +5.5 3,510,442 -5.8

Maximum take-off
weight in tonnes: 796,583 +5.0 4,811,339 +3.0

Flight movements
(arrivals &

departures): 21,240 -0.6 131,220 -1.9

Air cargo and
trucking in tonnes: 22,128 -1.8 152,151 -0.8

Consolidated Interim Financial Statements as of 30 June 2015

Income Statement in EUR million

H1/2015 H1/2014 Change in %
Revenue 311.5 304.7 2.2
Other operating
income 5.8 7.5 -22.0
Operating income 317.3 312.2 1.7

Consumables and
services used -17.2 -19.7 -12.8
Personnel expenses -130.3 -123.3 5.6
Other operating
expenses -37.2 -42.7 -12.9
Earnings before

interest, taxes,
depreciation and
amortisation

(EBITDA) 132.7 126.5 4.9
Depreciation and
amortisation -64.2 -63.3 1.3
Earnings before
interest and taxes
(EBIT) 68.6 63.1 8.6

Income from
investments,
excluding companies
recorded at equity 0.1 0.1 100.0
Interest income 1.3 0.7 82.2
Interest expense -11.2 -12.2 -8.3
Other financial
result -0.1 0.0 n.a.
Financial results

excl. companies at equity -9.8
-11.4 -13.8 Result from companies accounted for using
the

equity method 3.5 5.3 -33.9
Financial results -6.3 -6.1 3.5

Earnings before
taxes (EBT) 62.2 57.0 9.1

Income taxes -14.6 -13.0 12.6
Net profit for the
period 47.6 44.0 8.1

Thereof
attributable to:
Equity holders of
the parent 47.6 44.0 8.1
Non-Controlling
interests (in EUR
1,000) -1.2 -1.9 -36.6

Earnings per share
(in EUR, basic =
diluted) 2.27 2.10 8.1

Balance sheet Indicators in EUR million

30.6.2015 31.12.2014 Change in %
ASSETS:
Non-current assets 1,758.0 1,803.4 -2.5
Current assets 92.1 88.8 3.7

EQUITY AND
LIABILITIES:
Equity 965.8 952.5 1.4
Non-current
liabilities 607.4 672.2 -9.6
Current liabilities 276.9 267.5 3.5

Balance sheet total 1,850.1 1,892.2 -2.2

Net debt 468.0 506.2 -7.5
Gearing (in %) 48.5 53.1 n.a.

Cash flow Statement in EUR million

H1/2015 H1/2014 Change in %
Cash flow
from operating

activities 110.1 104.3 5.6
from investing
activities -36.8 -30.3 21.4
from financing
activities -69.9 -74.8 -6.6

Free cash flow 73.4 74.0 -0.9

CAPEX 24.6 31.0 -20.6

The report by Flughafen Wien AG of the first six months of 2015, from
January 1 to June 30, 2015, is available to the general public at the
company's offices at 1300 Flughafen Wien and at Bank Austria, 1010
Vienna, Schottengasse 6-8. It is also available on the Internet at
http://viennaairport.com/en/company/
investor_relations/publications_and_reports/quarterly_reports.

The Management Board of Flughafen Wien AG
18 August 2015

Further inquiry note:
Investor Relations:
Mag. Judit Helenyi (+43-1)7007-23126; j.helenyi@viennaairport.com
Mario Santi (+43-1)7007-22826; m.santi@viennaairport.com

end of announcement euro adhoc
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company: Flughafen Wien AG
Postfach 1
A-1300 Wien-Flughafen
phone: +43 1 7007 - 22826
FAX: +43 1 7007 - 23806
mail: investor-relations@viennaairport.com
WWW: http://viennaairport.com/unternehmen/investor_relations
sector: Transport
ISIN: AT0000911805
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English