EANS-News

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 - Seite 2

location is able to take advantage of this trend will largely depend
on whether Vienna Airport is allowed to grow in the long term",
explains Julian Jäger, Member of the Management Board of Flughafen
Wien AG.

Dividend up by 25% to EUR 0.625 per share

Based on the good business development in 2016, an increased dividend
(EUR 0.625 per share) will be proposed to the Annual General Meeting
scheduled for May 31, 2017, compared to the dividend of EUR 0.50 per
share distributed for the 2015 financial year. All Flughafen Wien AG
employees will benefit from the higher dividend, which is also the
result of their successful work, via the employee foundation, which
holds 10% of the shares. The dividend yield for the 2016 financial
years in relation to the share price as of December 31, 2016 equals
2.7%, and the pay-out ratio as a percentage of the net profit for the
period is 51.2%.

Note on the presentation of the consolidated financial Statements

In accordance with a ruling handed down by the Financial Market
Authority (FMA) with respect to the consolidation of Malta Airport,
the consolidated financial statements of Flughafen Wien AG for the
2015 and 2016 financial years are adjusted as if this consolidation
had already been recognised in the year 2006.

Improvements in financial performance indicators despite one-off
effect

Revenue of the Flughafen Wien Group rose by 3.0% to EUR 741.6
million, and EBITDA improved by 5.5% to EUR 329.8 million. Impairment
losses of EUR 30.4 million were recognised in the 2016 consolidated
financial statements for the capitalised costs relating to the
environmental impact assessment being carried out for more than ten
years in connection with the 3rd Runway project following the adverse
decision handed down by the Federal Administrative Court. In
contrast, the reversal of impairment for a building had a positive
impact of EUR 10.1 million. As a result, EBIT amounted to EUR 172.0
million, comprising a rise of 0.1%. Thanks to the improvement in the
financial results, the net profit for the period ultimately rose 0.7%
to EUR 112.6 million (EUR 102.6 million after non-controlling
interests).

Revenue and earnings development in the segments

Revenue in the Airport Segment rose by 3.2% year-on-year to EUR 370.8
million. In spite of the good operating results, EBIT fell by 1.7% to
EUR 52.6 million, which can be attributed to the significant rise due
to the impairment losses related to the 3rd Runway. The Handling
Segment registered a 4.7% rise in revenue to EUR 158.4 million, with
EBIT generated by this segment increasing by 38.7% to EUR 15.9