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Flughafen Wien Group EBITDA up 11% in 1H2012, raises full year net profit forecast

23-Aug-2012 1:14 PM

Austria’s Flughafen Wien Group revenue up 5% - financial highlights for six months ended 30-Jun-2012:

  • Revenue: EUR293.6 million, +4.7% year-on-year;
    • Airport: EUR146.6 million, +5.6%;
    • Handling: EUR79.5 million, -0.2%;
    • Retail and properties: EUR59.6 million, +10.6%;
  • EBITDA: EUR109.3 million, +11.0%;
  • EBIT: EUR68.7 million, +4.0%;
    • Airport: EUR39.3 million, -7.8%;
    • Handling: EUR9.3 million, +192.8%;
    • Retail and properties: EUR31.6 million, +5.2%;
  • Net profit: EUR49.5 million, +14.3%;
  • Passenger numbers: 10.4 million, +7.9%;
  • Cargo volume: 131,061 tonnes, -8.0%;
  • Aircraft movements: 120,455, -0.3%;
  • Total assets: EUR2094 million, -2.6% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: EUR49.3 million, -55.7% when compared to period ended 31-Dec-2011;
  • Total liabilities: EUR1254 million, -6.3% when compared to period ended 31-Dec-2011;
  • 2012 forecast:
    • Revenue: EUR600 million;
    • EBITDA: EUR200 million;
    • Net profit: EUR60 million, compared to its previous guidance of EUR55 million;
    • Passenger numbers: +4% to +5%;
    • Aircraft movements: stable to -1%. [more – original PR]

Flughafen Wien Group: “The first half-year was marked by the consequent implementation of our corporate strategy. The steps taken in earlier quarters to cut costs and improve productivity as well as measures to strengthen corporate structures had a positive effect. The company‘s earning power and financial position were significantly strengthened, and we expect a slight reduction in net debt this year. Our estimates for an increase in revenue and EBITDA in 2012 are still well protected. We have therefore raised our estimate for net profit from EUR55 million to at least EUR60 million,” Günther Ofner, CEO. Source: Company statement, 22-Aug-2012.