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FWAG: Good Business Results of the Flughafen Wien Group: Further Improvement of Revenue and Earnings Despite High Extraordinary Depreciation of EUR 30.4 Million Due to Negative Runway Ruling
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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/Preliminary results 2016
Good Business Results of the Flughafen Wien Group: Further
Improvement of Revenue and Earnings Despite High Extraordinary
Depreciation of EUR 30.4 Million Due to Negative Runway Ruling
.) DIVIDEND rise of 25%
.) REVENUE up to EUR 741.6 million (+3.0%), EBITDA increase to record
level of EUR 329.8 million (+5.5%)
.) NET PROFIT FOR THE PERIOD*) climbed to EUR 112.6 million (+0.7%)
in spite of the high extraordinary depreciation (EUR 30.4 million)
related to Federal Administrative Court ruling on the 3rd Runway
.) NET DEBT further reduced to EUR 355.5 million (down EUR 132.4
million from the end of 2015)
.) Substantial increase in the free cash flow of 35% to EUR 141.0
million (2015: EUR 104.4 million)
.) Positive outlook confirmed for 2017: rise in revenue to over EUR
740 million, EBITDA of EUR 315 million and net profit for the
period before non-Controlling interests of at least EUR 120
million
*) Net profit for the period before non-controlling interests
"2016 was a very successful financial year marked by increases in
revenue and earnings. In spite of the adverse decision handed down by
the Federal Administrative Court on the 3rd Runway project and the
related extraordinary depreciation of EUR 30.4 million, we were able
to achieve our financial targets for 2016. We expect a further
improvement of our financial performance indicators in 2017, and the
aviation sector will continue to grow in the long run. This makes it
all the more important for Vienna Airport to have favourable growth
perspectives. We will continue to pursue the 3rd Runway project,
exploiting all the legal possibilities at our disposal", says Günther
Ofner, Member of the Management Board of Flughafen Wien AG.
"The past year was very successful for Vienna Airport, characterised
by three passenger records and a total of 23.4 million travellers.
The Flughafen Wien Group showed 3.8% growth in passenger volume to
28.9 million passengers. We are also optimistic for 2017,
anticipating a rise of up to 2% in the number of passengers handled
by Vienna Airport and up to 3% for the entire Flughafen Wien Group.
Flight traffic will increase on a long-term basis. ACI, IATA and the
major aircraft manufacturers expect annual passenger growth of up to
4% until the year 2040. Whether Austria as a business and tourism
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