Flughafen Wien AG

set of results for 2024. So we saw substantial growth in passenger numbers, lower energy costs and positive interest income improving our financial results. in terms of revenue we saw 16.6 plus and the the additional revenue could also be passed through to ebitda and and net doubt so ebitda margin was even slightly above the figures of Q123 and was at 37.8%. Financial results have been positive. Are aware that we have repaid our EIV loan last year. So the burden of interest is now removed and we will see also for the full year a positive financial result. Passenger numbers went up 13.8% and we have to interpret all these figures against the fact that the first quarter, 23, still was rather weak. So we see also a positive pace effect. And we had with the 29th of February, one additional day that is also a part of the results. For the full year outlook, we have slightly improved our financial guidance. And from today's perspective, we are optimistic to see a turnover of one billion or slightly above. and an ebda of more than 400 billion and our net profit should increase over 220 billion euros and these figures are on the background that we expect a good level of traffic also in the summer months You have maybe seen the very aggressive situation between Austrian Airlines and the substantial and severe labor conflict there, including 36 hours of strike. But finally, collective agreement could be found and the good side of it is that now for three years there is an industrial peace obligation so no action is allowed within this period and I think the compromise that was reached is also financially viable for Austrian Airlines and is not destroying their business model as it was initially expected, unfortunately, due to the very, very high and unsound proposal from the Labour side. The airport itself has also successfully concluded the bargaining about a collective agreement starting from 1st of May 24 until end of April 25 and we fortunately had no labor conflict at all. And it was cordially agreed to increase wages by 7%. And it is a positive signal, I think, for a very functioning social partnership within our company. If you look at the earnings improvement and the financial results in detail, you see that our net profit for the period went up from 25 to 37 million. And that the net profit after non-controlling interest was 33.5.

compared with 23 last year.

Financial results at 3.8 million positive and this will also be the case for the full year. Our cash flow from operating activities ended up with 68.2 billion that is slightly below last year's figures and is the effect of the payout of of the incentives for airlines And some of them have not only been higher, because also traffic was growing, but have been also paid earlier compared to the first quarter in 2023. And if you look at our capex, you see that what was announced is now realized so we had 35 million in the first quarter which is substantially higher than it was last year despite all that we saw an increase in our net position to 393 million and also a better equity From the CAPEX side, the main expense was due to the intensive construction phase now of our terminal project. You are aware of our dividend proposal and the AGM should follow this proposal beginning of June. So to distribute the dividend of 1.32 per share for 23. And if you look at our financial side, we can finance the capex out of our cash flow and it would not be necessary to raise debt in the coming periods. One question we received in advance was about the further development of personal costs. Yes, we will see on the expense side a substantial plus in personal expenses that is related on one hand to the collective agreements. We had two of them last year and also of additional employees. So the number of employees is up at roughly 8.3%. compared to the same period in 2023 and this is also an effect of additional traffic and higher passenger rates and will lead finally for the full year to an increase in personal expenses of somewhere 13 to 15 percent for our company. What is remarkable is that energy costs went down in the first quarter and we could profit also from our own production and depreciation was more or less the same other operating expenses went up due to higher maintenance expenses in the period of corona we have saved money by reducing maintenance and now have to to additional work also throughout 2024 and this is reflected in the respective figures. If we continue to our key projects, then we have to look at our third runway project where the evaluation for the project by our teams is underway. The realization decision can be expected most likely in 2026 and it will depend on traffic development passenger volumes flight movements and also the expectable profitability how the decision will be made what is recently coming up is a decision of the federal administrative court uh we have received the permission by the authority to postpone the construction period for phase one to the 30th of june of 33. uh now the federal administration from our perspective unlawfully and reduce these data to 2030 as from our point of view is clearly contradicting the existing legal framework of the respective law we will appeal against this decision to administrative court and we don't see immediate effects of the decision for our procedure, even if what I think is very, very unlikely, the highest administrative court would accept the decision of the administrative court. So the immediate effect of this decision is very limited. The biggest project in realization is our terminal expansion project. And it is now under intense construction work. And it's on time and within budget. and should be finalized in 27. also impulsion started operations at the airport they are producing beyond propulsion engines for satellites and they start with production right now So they are producing one unit per day and their plan is to triple production the next month and also their footprint on the airport. And their start now is accompanied by the first European Space Agency VLAB that is established on Vienna airport. There will be eight of them throughout Europe. The first now was established in Vienna on our airport and it is financed by the federal country of Lower Austria and the federal government with 12 million euros to support other companies in their startup