Positive Results for Vienna

The Flughafen Wien Group (FWG) has reported what it describes as a: “substantial improvement in all key indicators,” for the first nine months of 2012.  Revenue increased by 5.1% to €457.5 million and EBITDA by 10.4% to €174.6 million.  EBIT rose to €102.8 million (+63.1%) and net profit to €71.7 million.
In connection with this year-on-year improvement the FWG points out that its results for the first three quarters of 2011 were negatively influenced by, “special effects and impairment charges.”  The EBITDA margin rose from 36.3% in the previous year to 38.2% and the EBIT margin increased from 14.5% to 22.5%.
Günther Ofner CFO of FWG commented: “We are on the right course.  The measures
implemented to increase productivity, reduce costs and streamline the organisational structure are producing the intended results.  For 2012 we are expecting positive net cash
flow and a slight reduction in net debt.
Even though earnings will be negatively affected by increased depreciation, amortisation and operating costs as well as higher interest expense for [the airport’s] Check-in 3 [facility], we are optimistic that we will reach all our targets for this year.”
Flughafen Wien states it expects: “slightly negative” results for the fourth quarter of 2012, in part due to maintenance and repairs that were rescheduled for this period as well as the generally slower growth in passenger volumes.  Therefore, net profit for the full 2012
financial year: “should be equal or be slightly lower than the first three
Julian Jäger, COO of Flughafan Wien AG commented: “The sound development of passenger traffic has had a positive effect on revenue and earnings.  Our core
business is developing well and we are optimistic that we will reach our forecast for an increase of roughly 5% in the number of passengers this year.  Consequently, high quality
services and a modern infrastructure are our top priority.  We are currently modernising Check-in 1, which will open in January 2013 as the new terminal for Air Berlin/NIKI.
“The shopping offering at the airport will also be expanded in the near future.  Detailed contract negotiations are now underway with several operators, and we are optimistic that the leases will be signed by the end of this year”, he added.