Flughafen Wien AG

And there is not one single entity where we have not reached our goals. And that is insofar of importance as a balanced development of the whole company, I think, is a very essential goal. We saw revenues up at 931.5 million and plus of 24%. EBITDA at 393.6 plus 33% and EBIT at 261.8 million plus 57%. all ends up in the group net profit of 188.6 million plus of 47 percent and what i think is especially of importance our productivity has also been steady on a very high level. So EBDR margin at around 42.2%. And if you put in mind that a major part of our business is the handling business, which per definition is a low EBDA margin business, I think this is really a very, very good level of productivity. We saw the largest cost increase clearly in the personal expenses with a plus of 28.3, and I will come back to the details later. Based on these results, will propose to the General Assembly a significant dividend increase up to €1.23 per share. That is 60% as a basic payout ratio plus roughly 5.7% of a bonus. So altogether around 66%, almost two-thirds of net profit will be transferred to our shareholders, which is an increase of 70% compared with last year. If we look at 2024, then we see that due to our positive expectation of further growth in the years to come. We decided to start into a new phase of investments on the airport and our capex will go up to roughly 200 million in 2024 and should stay somewhere at this level also in the coming years. But the good news is we don't need debt financing for these investments. They will be financed from our cash flow, especially also the big project of the terminal expansion. When we met last time, I think there were more question marks about how 2024 will perform. But what we see so far, not only from passenger figures in January, but also from the press releases of the travel agencies, of airlines, From today's perspective, we can expect a rather strong travel season, maybe the strongest ever for Austria. And this should also positively impact our business expectations for 2024, which are more shiny from today's perspective than it has been in January or even in October and November when we made our budget. If you look at the financial indicators in detail, you might see that financial results finally ended up in negative territory that reflects the fact that we repaid our 200 million remaining eib loan in q4 and from that repayment relates in one off expense of roughly 10 million euros which is included in the financial results of 2023 but which means that further years will be relieved from the burden of paying interest, which should have a positive effect on our profitability for 2024 and the following years. And clearly we expect for 2024 a substantial positive financial result and if you look at our net position you see that we had roughly 361 million end of 2023 on available bank and zero financial debt If you compare the figures and earnings revenue, EBITDA group net profit with 2019, you see that in all financial categories, we are better than 2019. What we have to put into account is that this is not deflated, so it's including inflation. So it's not a comparison real to real, but it shows that overall, we have overcome the COVID problems and are now back on a very fine and positive economic road. Clearly, we also saw a sharp increase in our cost positions. The most important one, personal expenses, went up by roughly 75 million, 28%. Consumables and services used only up 21%. what reflects that we are very well positioned in regard of energy prices. So we have not been severely affected by the price hike due to the fact that we are producing electricity on our own with our PV for roughly 30% in 2023. And this will go up to roughly 50% once all of the projects are finalized throughout 2024. And it reflects also that we had purchased electricity already in 2017, 2018 at substantially lower costs than we saw in 22 or 23. Other operating expenses went up 49%. This includes especially some maintenance measures that have been canceled due to COVID in the years before and which are now overdue to be done. So it's... not surprising that we saw a cost increase there. EBDA margin at 42.2. I think that's a very, very fine indicator. And I think we can be very glad that we reached that level. Going to the equity, you see that we improved our equity ratio up to roughly 70%. We had a very high cash flow from operating activities with 384 and an overall free cash flow of 228. And as I already said, net liquidity of 361 and total equity of 1,556,000,000. You see the strong balance sheet structure. I think it's self explaining. We even reduced our balance sheet smoothly from 2019 levels and increased our equity position substantially. As I already mentioned, the payout will be proposed at €1.32 per share. And this equals an increase of roughly 70% compared to the dividend for 22. And also our employees, who own 10% of the shares of the company, will profit from that situation. I mean, it was a very controversial discussion, if you remember, what so-called experts and really distinguished experts said about the long-term effects of COVID, but if we look at the real situation now, it's more or less a very big, but again, it's a V, and it shows that we will reach pre-crisis levels soon, maybe 25 or even earlier, let's see, but aviation industry as such and especially our airport is back on track and we foresee substantial growth in the years to come and that is also that shows the necessity of making our airport fit for these future developments and Here you find some highlights of ongoing and planned investments at and around the airport. So the southern terminal extension, where the intensive construction phase already started with an investment volume of 420 million. Our BV plans, which are completed in 2024, and should sum up to roughly 50 million kilowatt hours production. We are developing a roughly 50-hectare big facility on the western side, neighboring the airport, where we have commercial space, and we see a very, very high demand for that. It will bring a lot of new companies nearby the airport for their businesses. We have to build the logistics center for supplying the terminals. The construction of the new Vienna House Hotel will start very soon. The logistics park nearby the airport will be completed in fall of 24. And our fast, ultra fast, super fast electric charging station will start operation most likely in June this year. And we also see substantial investments in the apron and the terminal expansion as malta airport but more details in regard of that you will get from from julian yeager we know that the transport infrastructure need to be extended and a very important part of it is the railway connection from the airport to Bratislava. And in regard of that, this year, the permission process should start so that some light at the end of the tunnel, that this very important connection will be finalized. Overall, we see Roughly 1,000 jobs in our airport and through companies who are coming to the airport added in 2024. In 2023, our total employment increased by roughly 8%. in 24 this will be slowing down so we will see roughly 300 additional employees in our subsidiaries and and in the company itself which equals 4.5 percent roughly and putting all together we expect roughly a personal cost increase in 2024 of around 10%, so a substantial slowdown from the development in 2023. We can confirm our financial guidance for 2024, and given the brighter prospects, I would think it's on the very conservative side. So if everything goes well, as it looks now, we could maybe end up higher than expected in November when we made our budget. Last but not least, we see that our share price has substantially improved. We are at the current market capitalization of around 4.2 billion, which is, believe it or not, only 500 million lower than Fraport with a balance sheet that is eight times bigger than ours. And it's not too far away from Zurich with 5.6 billion. So the graph shows that we had a very constant improvement throughout the last decade. And I think we have all the reasons to be optimistic for the years to come. So that's from my side and I hand over to Julian Jäger.

Thanks a lot, Günter.

I will continue with the segments and a bit of an outlook on 2024. I think overall, and you've seen the strong results 2023, the main driver in my perspective was passenger growth. And it's really satisfying to see that essentially throughout the segments and all the businesses we managed to translate the passenger growth into revenue growth. I think the basis for the quick recovery of Vienna Airport is the high process quality. Austrian Airlines is the only airline in Lufthansa Group which has more passengers in 2023 than in 2019. So I think the basis is a very solid and punctual operation here. And therefore, I think overall, we can be quite happy with the cooperation with Austrian Airlines and the development here. I would continue with the airport. Yeah, thank you. A few words regarding the airport segment. We had above passenger growth, growth in the external revenue, growth by 37%, up to 440 million euros. EBITDA increased by 39% to 170 67 million and it was pretty exactly doubled to 100 million euros. The main driver was increasing the passenger related fees plus 47%. Overall, our airport revenues from the segment increased. by roughly 11% per passenger, so we managed to increase revenues significantly above inflation. So I think this is quite an achievement, and revenues were already above 2019. Let's come to the next slide. Yeah, I think this is one development where it makes a lot of sense to take a bit of a more long term perspective. If you look at this, you can see that both the seeds per flight movement and the seed load factor increased very significantly over the last 13 years. Seed load factor was in in 2010 around 70%, and now we are above 80%. So I think this is quite an achievement and quite a change, which very substantially supports the revenue development at the airport. And thanks God, this is a trend which continues. And the same applies for the seats per movement. If you look, we were roughly at 115 seats in 2010, and now we are at 165 seats so overall the combination really drives the passenger numbers per movement and this is obviously an excellent development seeing and then you saw it in the slide before that more than 70 percent of revenues are coming from the passengers and only 20 percent are coming from the aircraft Let's continue with the next slide. Yeah, I think again, I think this is a very positive development if you look at the long term passenger growth in the end. If you just look here at the average growth between 2000 and 2019, the European average was 4.7% and our growth was 5.3%. This doesn't look much, but if you appreciate that the average of the European airports include Turkey, Istanbul include all the Eastern European airports, where growth in the last 20 years was significantly above average. I think the 5.3% are excellent. If we would compare ourselves to Germany, if we would compare ourselves to Western European airports, I think the difference would be quite impressive. And the good thing is that especially compared with the German-speaking airports, our recovery post-pandemic was very strong as well. The most difficult segment is still the handling and security services segment, but we are very pleased to see that we managed to take the turnaround to profitability. We had an EBIT of 6.1, a positive EBIT of 6.1 million in 2023. compared to minus 3.5 million in 2022. Revenues grew by more than 30%. Overall, still a difficult environment, competitive environment, but we managed to change quite a number of contracts, to extend quite a number of contracts. So revenues should still increase in 2024. Costs increased as well. As Kunt already showed, our staff costs increased quite significantly. And we did not save money on quality. We did not save money on staff. But we improved very substantially in the last five years our efficiency in the handling segment. And overall, it will remain a difficult and very competitive environment. But overall, we are happy that we managed to turn around in 2023 and we are confident that we will see a positive development in 2024 here as well. Retail and properties throughout the positive picture, parking increased revenue by 33%, centre management and hospitality by 39%, more than 50% of the segment's revenues come from centre management and hospitality, and rentals increased by 13%. So overall, I think very positive development revenues increased to 182 million euros. EBITDA was at 100 million and EBIT 81 million euros. One should not forget that there was a positive one of 8 million euros in 2022. Overall, yeah, excellent results, I would say. Malta is still a very, very important and becoming more and more important part of our business. We had a record year in terms of passenger numbers in 2023. So 7.8 million passengers, a growth of 33%. And this was translated into revenues of 118 million euros, EBITDA of 74 million euros and the net profit of 40 million euros. This was actually a bit below the 2022 figures, but because of a one-off tax credit of 12 million in 2022, so overall excellent results. The outlook for this year is very strong and positive as well. We expect more than 8 million passengers in 2024. and we've started in Malta a very extensive investment program. Terminal expansion is going on. This is a project which is staggered over a number of years. We are increasing very substantially the aircraft stands and we started to to extend our airport city in Malta. So Skyparks 2 will contain additional office space and a new hotel. Let's come to the current developments. January started excellent for the whole group. Vienna airport had a growth of plus 9.5%, Malta plus 22.7%, then Kosice plus 15.6%. Overall in the group, 2.3 million passengers and 12% growth. I think what is very positive looking just at the Vienna figures is cargo plus 16.2 percent so this is an excellent development in January we saw this trend already in the last quarter but now it continued And cargo is a very important part of our ground handling business. So we are trying actively to improve our competitive position in the region, vis-à-vis Budapest, vis-à-vis other airports in the region. And we just signed a cooperation agreement with Incheon Airport and Korean Air. Korean Air is our most important cargo airline. Yeah, summer looks good. I think Austrian is in a very good position right now. We'll grow by 2787 in the course of this year. We'll offer a new long-haul destination with Boston. Ryanair will station 19 aircraft here in summer, five new destinations with five aircraft. VCA is the airline which is affected most by the Fred and Whitney engine problems, but still 29 destinations and five aircraft in Vienna. So they're quite happy with the situation. And what is important to see is that Asia slowly but surely comes back. ENA will start again in August, the Tokyo-Vienna route. And overall, I think from today's perspective, we will look at growth in 2024, and we will look at positive development, given that there is no additional global crisis or any other substantial problem somewhere in the world. um as we said we expect about 30 million passengers in 2024 from today's perspective it looks like we are going a bit uh more towards 31 million passengers i don't think that's too early to to really say uh it would be nice if we have in the group maybe 40 million passengers um let's see you saw that the year started very well uh but i think it's It's too early to change our predictions and we feel quite confident to achieve here our focus.