Vienna International Airport Presentation to Investors
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Ve Vienna International Airport Presentation to Investors International Investor´s Conference Kitzbühel, January 24 - 27, 2007 Herbert Kaufmann CEO and Speaker of the Board Flughafen Wien AG 1 Ve Facts & Figures z Vienna Airport plc z Well situated as gateway to - Privatised in 1992 Eastern Europe - Present ownership structure: z Full-service airport provider 40% Public sector (including ground handling) 10% Employee trust 50% Free float z Working environment z 16.9 m passengers in 2006 - Approx. 16,000 employees on site z High dividend yield - Thereof approx. 3,750 employees in the Flughafen Wien Group 2 Ve Strategy – Vienna International Airport Group z Airport Segment ¾ Focus on Eastern Europe ¾ Transfer hub for Eastern Europe, Near and Far East ¾ Low-cost Carrier z Handling Segment ¾ Market share ¾ Focus on air cargo z Non - Aviation Segment ¾ Retail and gastronomy ¾ Office space ¾ Parking ¾ CAT ¾ High security standards 3 Ve Strategy – Vienna International Airport Group Airport Segment z Segment investments: EUR 456 m (2006 – 2010) z Optimization of tariff structure ¾Tariff formulas extended to 2009 ¾Incentives extended to cargo airlines z Marketing activities ¾ Increased marketing activities in Eastern Europe, Near and Far East ¾ New airlines in 2007: Delta Air Lines, Korean, Sky Europe, Krasair, Air Transat Minimum connecting time of 25 minutes z Capacity measures ¾Skylink Terminal to start operations in early 2009 4 Ve Changes in Tariff Regulations as of 1.1.2007 TARIFFS (resulting from formula*) z No change in passenger service charge zDecrease of 1.38% in landing charge z Incentives for cargo flights * CPI minus 1/3 Growth rate 5 Ve Strategy – Vienna International Airport Group Handling Segment z Long-term contracts ¾ Korean up to 12/2010 ¾ Austrian up to 12/2009 ¾ Eva Air up to 12/2009 ¾ China Airlines up to 12/2009 75% of market share secured ¾ Qatar up to 12/2009 ¾ Emirates up to 12/2008 (2006: 90% market share) ¾ Air Berlin up to 03/2008 ¾ Niki up to 03/2008 z Expansion of cargo and logistics areas ¾ Air Cargo Center 6 Ve Strategy – Vienna International Airport Group Non - Aviation Segment z Segment investments: EUR 77 m (2006 – 2010) z Skylink Terminal: substantial increase in retail and gastronomy space beginning in 2009 z Office Park II z Expansion of parking areas ¾ Extension of existing car park (+ 2.600 parking spaces) z Public transportation ¾ City Airport Train (CAT) z Increased revenue from expanded security standards ¾ Vienna International Airport Security Services GesmbH (VIAS) 7 Ve Results 1-9/2006 Change in EUR m 1-9/2006 1-9/2005 in % Turnover 347.0 304.9 + 13.8 Other operating income 8.6 17.3 - 50.1 Operating income 355.6 322.2 + 10.4 Operating expenses (excl. depr./amort.) - 221.0 -199.8 + 9.7 EBITDA 134.6 122.4 + 9.9 Depreciation and amortisation - 46.8 - 40.4 + 16.1 EBIT 87.7 82.1 + 6.9 Financial results - 0.6 7.9 - 106.9 EBT 87.2 90.0 - 3.2 Taxes on income - 21.2 -23.3 - 8.7 Net profit for the period 66,0 66.8 - 1.2 Thereof due to minority interests - 0.0 + 0.4 - 107.5 Thereof due to parent company 66.0 66.4 - 0.7 EBT 8 Ve Results 1-9/2006 Turnover structure Non-Aviation EUR 83.9 m Handling + 27.5% EUR 106.1 m + 8.9% 23.9 % 30.6 % Turnover structure excl. handling 45.5% Airport EUR 157.8 m 34.5 % 65.5 % + 10.9% 9 Ve Traffic Results 2006 Highlights 2006 z Traffic growth in 2006 6.3% above European average (+5.3%*) and our own forecast (+6 %) z Strong development in mid-haul flights Near East 14.4% z Flights to Eastern Europe 8.0% z Low-cost carriers 13.2% z Cargo 13.3% * Source: ACI (January - November 2006) 10 Ve Traffic Results 2006 Passengers: 16,855,725 (+ 6.3%) Transfer passengers: 5,673,586 (+ 4.2%) Flight movements: 237,490 (+ 2.9%) MTOW (t): 6,765,734 (+ 3.7%) Cargo incl. trucking (t): 265,778 (+ 13.3%) 11 Ve Traffic Results 2006 Scheduled Traffic - Passengers Share of traffic Change in % in % Europe 83.9 + 8.5 East: 16.3 + 8.0 West: 67.7 + 8.6 Far East 7.7 + 2.2 Middle East 4.1 + 14.4 North America 2.9 - 5.4 Others 1.4 - 8.0 TOTAL 100.0 Scheduled traffic comprises 94.2% of total traffic 12 Ve Traffic Results 2006 Passengers – Low-Cost Carriers LCC share 2006 % to 2005 in % Air Berlin 1,057,422 + 13.8 6.3 Niki 753,221 + 11.5 4.5 Germanwings 360,352 + 7.7 2.1 Blue Express 32,092 - n.a. 0.2 Intersky 26,693 - 52.8 0.2 TOTAL 2,229,780 + 13.2 13.2 13 Ve Traffic Results 2006 Comparison of traffic to Eastern Europe in November 2006 * OAG – November 2006 14 Ve Traffic Results 2006 Airlines – Share of Passengers % 2006 2005 Austrian Airlines Group 57.0 56.6 Air Berlin 6.3 5.9 Lufthansa 5.6 5.5 Niki 4.5 4.3 Germanwings 2.1 2.1 British Airways 2.1 2.2 Air France 1.8 1.8 Swiss Intl. 1.8 2.0 KLM 1.4 1.5 Turkish Airlines 1.0 1.1 Others 16.3 17.1 15 Ve Traffic Results 2006 Comparison - Punctuality at European Hubs Departures delayed more than 15 minutes Delayed aircraft (more than 15 min) in % Vienna International Airport 17.6 Zurich 22.4 Munich 22.6 Amsterdam 23.3 Frankfurt 24.7 Copenhagen 25.7 Milan Malpensa 30.3 Paris CDG 30.6 Rome 35.7 London Heathrow 38.1 Source: AEA 3rd Quarter/2006 16 Ve Traffic Results 2006 Cargo Development Change in 2006 2005 % Air freight (dep. + arr.) in tonnes 187,852 167,494 12.2 Trucking (dep. + arr.) in tonnes 77,926 67,183 16.0 Air freight + trucking in 265,778 234,677 13.3 tonnes 17 Ve Traffic Results - Forecast 2007 Passengers + 5% MTOW + 3% Flight movements + 2% 18 Ve Number of Passengers at Selected Airports in Europe 18 15,7 16 14 12 10 8 6,8 7,0 7,3 6,3 5,3 6 4,9 4 2,1 2 0 2003 2004 2005 2006 VIE European average 19 Ve Number of Passengers at Selected Airports in Europe 3-year average Pax in mill. Growth in % 20,00 15,1 11,7 7,8 7,7 7,5 10,00 6,7 6,6 6,3 6,3 6,3 6,1 5,7 5,4 4,5 4,3 4,2 4,2 4,1 3,9 3,6 3,4 3,4 3,3 3,2 3,2 2,7 2,6 2,3 2,3 1,9 1,3 0,5 0,00 70,00 67,4 -10,00 60,00 -20,00 52,5 51,4 50,00 -30,00 43,2 40,3 40,00 -40,00 32,1 30,00 27,5 28,4 26,0 24,4 -50,00 22,0 21,6 20,7 19,3 19,4 18,0 20,00 16,7 17,7 15,2 15,5 15,4 15,9 -60,00 13,8 10,1 11,0 10,9 10,8 9,7 9,5 8,7 10,00 7,1 9,1 -70,00 0,00 -80,00 R I N F N * N L R O A P E D Y N W A N S N M K U O I E I X ER T R R H C CH A L U CH CE C R A NA L N L G O RI NS S L I G URT E O T A R D F NNA B O NI MX E CDG S N F PEST S D N S N L E AG L E S M O UNI OS L IN EST URI N S NA F N L D M HE I A S O K A I L ER L DUB M L LI Z A H T V M N NHA D L RI RI PR L OL R HE A C A E RUS A CA ST MI DRI RCE E H NDO NDO SSEL N RO P R B BU MI NDO P NE N PAR A A B K MA A O U O F E A B O M AM L L E D M L CO T R OC D G T S MA L A Sourcee : ACI Airports Council International - Europe P 20 Ve International Projects z Previous acquisitions ¾ Kosice Airport ¾ Malta International Airport z New acquisitions ¾ Focus on Eastern Europe and neighbouring countries ¾ Friedrichshafen Airport 21 Ve Kosice Airport z Second largest airport in Slovakia z Total area: 3.4 km² z 1 runway: ¾ Runway 01/19: 3,100m z 343,818 passengers in 2006 (+27.4%) z Investments: ~EUR 11 m z Crossroads between 4 countries: Poland – Ukraine – Hungary - Slovakia z Gateway to High Tatra tourism region 22 Ve Malta International Airport z Passengers in 2006 z Owners 2,701,624 (-2,8%) - Government of Malta: 20.0% - Private investors: 29.9% - VIE through 100% subsidiary 10.1% - MMLC (thereof VIE: 57%) 40.0% z 2007 ¾ Ryan Air ¾ Germanwings (March 2007) ¾ Meridiana (summer 2007) EBIT and share price have doubled since 2002. 23 Ve Friedrichshafen Airport z Total area: 150 ha z 1 runway: ¾ Runway 06/24 : 2,356m z Approx. 650,000 passengers in 2006 (~ +10.0%) z Airlines: Intersky, Lufthansa, Air Berlin, Icelandexpress z Crossroads between 3 countries: Germany – Austria – Switzerland 24 Ve Friedrichshafen Region Location and population: z Germany: Baden-Württemberg z Population: 57,208 (December 2005) Infrastructure: z Bodensee - Friedrichshafen Airport z Regional railway crossroads z Direct ferry connections to Switzerland Major industrial site: z MTU Friedrichshafen GmbH (large diesel motors and drive systems) z ZF Friedrichshafen AG (automobile sub-contractor) z Zeppelin Luftschifftechnik GmbH Tourism destination z International trade fairs (Aero, InterBoot…) z Bodensee holiday region z Gateway to neighbouring tourism centres in Germany, Austria and Switzerland 25 Ve Thank You! 26.