Flughafen Wien AG

Yeah, it's 3 p.m. sharp. I welcome everyone to the conference call of Vienna Airport on its Q3 results. The board will walk you through the presentation and is then happy to discuss any questions you might have after the presentation. The call is recorded. A replay will be on our website right after we finish the session. So, Mr. Hofner, I hand over to you.

Yeah, good afternoon, and I can present you our results for the first three quarters of 2025. And as you maybe already saw in the presentation, we have plus 6.7% in revenue to 845 million. EBITDA is up 2.4% to 377 and group net profit up 4.2% to 215 million. So overall, very, very encouraging results. The only problem we phase since maybe the last three years, but especially 24 and 25 is an ongoing cost pressure which burdens our EBITDA and is slightly reducing our productivity. As you see in the latest figures of passenger growth, our guidance for 2025 is well based and we can confirm it right now with already clear visibility uh for for full year expectations what we need now is an efficiency improvement and cost reduction program which is under work right now because we are in the process of making our budget for 2026 which will be uh for uh approval in our supervisory board uh mid of december and details for the program we will release beginning of january with the traffic results of 2025 but what we hope for is and what we are working on is to at least partially mitigate the effects of the tariff reduction and maybe lower traffic results for the coming year. I mean, cost management is always a very important issue. And I'm very positive that we will reach a lot of effects throughout the whole company, in all departments, in all our daughter companies. last but not least we will also reduce our personal costs which is the most challenging issue all the time but with a step-by-step approach i think we will be also successful there if you look at the figures more in detail you see that Despite the fact that interest rates are going down, we maintained a positive development of our financial results, only slightly below the first nine months of 2024, with now 11.6 million compared to 11.9 million. And from today's perspective, we will have a lower EBTR margin. It was 46.5 in the first nine months of 2024. It's now 44.6 for the first nine months. So it's not too bad at this level. but definitely it's less than it was the year before. And the reason for that is that cost increases all over the board, and especially also with personal costs negatively impacted overall profitability. If we move on to expenses, you see that consumables and services used could be kept more or less stable. Personal expenses went up by 9.2% if we put into account the change in consolidation of our subsidiary Get2, which is responsible for the cleaning, the personal cost increase would even be 13.4% year on year, including also a high degree of increase from Malta. That's even beyond the cost increase here in Ghana. Other operating expenses went up by 11.6%. That is the other side of the coin of the personal expenses of G2, which has been included before. in the personal expenses and is now in the other operating expenses depreciation slightly below the figures of 2024 and as already mentioned ebitda margin at 44.6 compared to 46.5 and ebit margin uh at 33 percent compared to 33.9 percent in the last year if you look at our cash flow you see that it is slightly down the cash flow from operating activities from 322 to 268. On the other hand, the free cash flow went up 26% from 114 to 145. The increase in capex is as planned. So we went up from 131 to 199.5. And we will see how much will be added until the end of the year. So we will end up below the expected 300, but not too far from that. The net liquidity was slightly reduced also by the high dividend payout and is now at 438 compared to 511, but it's still on a very satisfying level. given the fact that we are now in a cycle of investments, and still we plan that we will finance the major investments of the coming years out of cash flow and net liquidity, so we will not need credits for the foreseeable years now. Equity went up from 1.6667 to 1.731, so a plus of 3.7% and an equity ratio of roughly 70%, which still is a very good figure. Our southern expansion of Terminal 3 is on budget and on schedule and will open as planned in 2027. We now are going to work on the tenant feed outs and interior construction work. and all the technical systems and the energy supply and as well as the connection to the existing terminal areas but everything so far is on plan and no no major issues there we are also expecting the new hotel to open operations already in december and we will start the next weeks the expansion of our office park four so that we can start the operation there at 2028 a lot of other projects are on the way and So far, everything is within the plan. So, last but not least, to remember the financial guidance for 2025, we expect a revenue of 1.80 million, EBITDA approximately 440 or even a little bit better, Group net profit approximately 230 million, maybe a little bit better given the latest traffic results, and capex somewhere below 300, but more or less close to 300. We should end up at the 31st of December. So that are the main Informations and figures from my side and I hand over to Julian.

Man hört dich nicht. I will continue with the traffic development.