Vienna shares slide despite EBITDA and revenue increase: Airport Share Wrap
Shares in Europe's Vienna International Airport dipped 0.3% on Friday, upon the release of the financial report of its owner, Austria's Flughafen Wien Group, for the three months ended 31-Mar-2010.
EBITDA at the airport rose 4.8% year-on-year on EUR43.7 million, on a 1.3% year-on-year increase in revenue to EUR123.0 million. Revenue from Airport and Retail & Properties activities rose, but other revenue streams declined:
- Airport: EUR57.4 million, +11.5%;
- Handling: EUR39.9 million, -11.3%;
- Retail & Properties: EUR22.3 million, +4.3%;
- Others: EUR3.2 million, -6.1%.
Passenger numbers increased 6.3% year-on-year to 3.9 million and cargo volumes surged 29.8% to 70,931 tonnes, while aircraft movements were stable at 56,822.
Flughafen Wien generated an EUR18.9 million net profit, up 7.6% year-on-year.
Flughafen Wien forecasts a 3.0% increase in passenger numbers and 1.0% increase in aircraft movements in 2010, subject to external effects, including volcanic ash cloud closures. The Group plans to invest EUR207.0 million in 2010, including replacement and maintenance investments and excluding the third runway, the purchase of land or borrowing costs capitalised during construction.
Elsewhere in Europe, Aeroporto di Venezia lost 2.4%, Aeroporto Toscano dropped 3.8%, while Aeroporto di Firenze gained 4.9% and Hochtief closed 1.0% higher on Friday.
Selected airports daily share price movements (% change): 21-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance