EANS-News
Flughafen Wien AG on the 2014 Financial Year: Significant Earnings Improvement despite Strong Crisis-Related Headwinds
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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annual result/Prelimenary annual results 2014
Flughafen Wien AG on the 2014 Financial Year: Significant Earnings
Improvement despite Strong Crisis-Related Headwinds
Dividend of EUR 1.65 per share, up 26.9% (from EUR 1.30 in 2013) -
Positive outlook for 2015
. REVENUE in 2014 up only slightly to EUR 630.2 million (+1.3%),
EBITDA at EUR 250.2 million (+3.6%)
. NET PROFIT FOR THE PERIOD*) rose substantially to EUR 82.5 million
(+12.5%)
. NET DEBT declined sharply to EUR 506.2 million (down EUR 127.1
million from 2013)
. DIVIDEND increase proposed to EUR 1.65 per share (+26.9% from EUR
1.30 in 2013)
. INVESTMENTS at EUR 75.1 million in 2014, EUR 95 million planned for
2015
. POSITIVE OUTLOOK for 2015: revenue improvement to over EUR 645
million, net profit for the period to surpass EUR 85 million
In spite of strong headwinds related to numerous crises and strikes,
Flughafen Wien AG achieved a considerable increase in earnings. In
addition to a slight rise in revenue and EBITDA, the net profit for
the period (after non-controlling interests)could be significantly
improved in the 2014 financial year. Moreover, it was possible to
achieve a sharp reduction in net debt as well as an increase in the
dividend to be distributed of EUR 1.65 per share (+26.9%).
The outlook for the year 2015 is positive. In spite of a painful drop
in passenger volume in the first quarter of the year, Flughafen Wien
AG expects passenger growth between 0% and 2%. Accordingly, revenue
should climb above the EUR 645 million mark, and EBITDA should rise
above EUR 250 million. The consolidated net profit for the period is
expected to surpass EUR 85 million, and net debt should fall below
EUR 500 million.
"Flughafen Wien AG is once again on a healthy economic footing. In
spite of global economic and industry-related challenges, the 2014
financial year developed gratifyingly, and the company succeeded in
achieving a perceptible improvement in all relevant financial
indicators. We expect growth in revenue and earnings in 2015,
although negative effects are likely to arise from the capacity