Flughafen Wien AG

interest in our Q1 2025 results. As with me, as always, Mr. Günter Ofner, Mr. Julian Jäger, and I handed the start over to CFO Mr. Ofner.

Yeah, good afternoon. We today published our results for the first quarter of 2025, and the We saw a revenue increase of 7.4 million and a net profit increase in the same amount, 7.3. EBITDA was slightly weaker at 2.2%. In total, we had a better financial result and a slightly weaker operative result. In total, it ended up in line with the revenue increase. What we have to have in mind is that in 24 we had a 29th February. So one additional day. And also Easter period was within the first quarter. And this year it's in April. And this has a certain effect. on our business outcome. We saw a substantial passenger growth in the group, especially Malta-Cosice. It was as expected in Vienna. What we have to stress is that, as you see, comparing the figures that already roughly 10 million out of 42 million passengers of the group are passengers in Malta and in Kosice. So the relative weight is growing towards Vienna airport. Financial guidance for 2025 I think we have now a little bit more visibility. And from today's perspective, I would say that our expectations of 1.808 million revenue and 440 million EBITDA and group net profit of roughly 230 million are very well based. And given that we don't see major disturbances from international problems, I would say that we can be very optimistic that we reach at least these figures for 2025, except any kind of extraordinary events. If we look at the travel agencies and their press activities, all of them are stressing a good booking situation for the summer month. And this will also be reflected in regard of flight traveling. Our topics will stay around or slightly above 300 million in 2025. So all our projects are well on the way and within budget and as planned. So especially the south extension is progressing positively and as planned, so no negative expectations or surprises from that side. If we move to our earnings in detail, you see increases in revenue in EBITDA, in EBIT, and especially in the financial results. And we saw an increase in resulting from additional passenger volume and also the fee adjustment. That was done in accordance with the regulation. But also our non-aviation business is developing positively. Lounges, restaurants, parking, advertising. but also real estate, and as outlined, financial results are even above expectations. So, if we move on, on the expenses side, there we see the issues that are now coming. along and that needs more attention maybe for the coming periods. It's especially the increase in personal expenses because as the subsidiary gate 2 is not fully consolidated personal expenses went up by roughly 12% in total, and other operating expenses by 16.2%, whereas depreciation and amortization is slightly down. So, cost management will be a challenge for the coming periods and we will have a little bit more stress on that side than recently because overall we can expect growth for the coming months and years but it will not be as strong as we saw it for example in 23 and 24 and we will then have to cope with the situation especially the fact that in 2026 the regime for our tariffs will be again the formula So the time span where we increased our tariffs by inflation will end in 2026 and we will be back at the formula. If we look at the cash flow and our balance sheet structure, you see a positive development there. Cash flow from operating activities went up from 68 to 95 million. Free cash flow also improved. CapEx roughly doubled as planned. Net liquidity is at 562. But we have to have in mind that after our general assembly a dividend payout of 138 million will have to be borne and so the net liquidity will be melting down corresponding to that. Our equity is increasing slightly from 1.667 to 1.708 and the equity ratio is more or less stable compared with last year.

Our airport city development is booming.