EANS-News: Positive Business Development of Flughafen Wien AG in the first nine months of 2014

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Subtitle: 2.9% increase in passenger traffic and 16.4% higher net
profit for the period - upward revision of guidance for 2014

quarterly report/FWAG: Quarterly Report 3/2014

Positive Business Development of Flughafen Wien AG in the first nine
months of 2014

2.9% increase in passenger traffic and 16.4% higher net profit for
the period - upward revision of guidance for 2014

* 2.9% more passengers in the period January to September 2014 (1.4%
increase in October 2014)

* Q1-3/2014 revenue up 1.4% to EUR 476.8 million, significant
improvement of EBITDA (+ 4.8%) to EUR 200.8 million and EBIT (+
12.1%) to EUR 105.8 million

* Strong increase of 17.2% in the net profit for the period after
non-controlling interests to EUR 75.4 million

* Further reduction of net debt to EUR 519.9 million

* Improved outlook for the entire year 2014: EBITDA above EUR 245
million (previously EUR 240 million) and net profit anticipated to
exceed EUR 80 million (previously EUR 75 million)

Flughafen Wien AG reports a good traffic and business development in
the first nine months of 2014. After an extremely mild winter in the
first quarter of 2014 and the related decline in revenue from
aircraft de-icing, revenue of Flughafen Wien AG picked up again in
the following months and increased by 1.4% in the period January to
September 2014.

Earnings could be significantly improved thanks to cost reduction and
productivity increases. EBITDA climbed 4.8% to EUR 200.8 million
(Q1-3/2013: EUR 191.5 million), whereas EBIT rose by 12.1% to EUR
105.8 million (Q1-3/2013: EUR 94.4 million) and the net profit after
non-controlling interests for the period was up 17.2% to EUR 75.4
million (Q1-3/2013: EUR 64.3 million). Net debt was once again
substantially reduced to the current level of EUR 519.9 million.

On the basis of this good business development, Flughafen Wien
revised its original guidance for 2014 upwards. EBITDA is expected to
surpass EUR 245 million, compared to the previous forecast of EUR 240
million, and the consolidated net profit will likely be over EUR 80
million, up from EUR 75 million. Flughafen Wien AG expects an
increase in passenger traffic of between 2% and 3% for 2014.

"Business developed well in spite of considerable challenges facing
us such as political crises in Ukraine and Middle East, unfavourable
exchange rate fluctuations and strike-related flight cancellations.
Therefore we have made an upward revision to our original guidance
for 2014. We generated a substantial improvement in the net profit
for the period and further reduced the level of net debt thanks to
stringent cost discipline and sustainable productivity increases",
says Günther Ofner, Chief Financial Officer of Flughafen Wien AG.

"From a traffic perspective, the year has been proceeding well up
until now, and we have now pinpointed the growth forecast for
passenger volume to be in the range of 2% to 3% for the entire year
2014. In particular, long-haul flight connections to North America
and the Far East are developing very positively. At the same time, we
are pressing ahead with our service drive. The new design of Pier
West featuring an extensive culinary offering from DO & CO has been
concluded, numerous new shops were opened and new service facilities
were initiated such as waiting time measurements at security checks.
The putting into operation of the enlarged train station at Vienna
Airport enabling long-distance trains coming from a westerly
direction to make a stop at the airport will provide added impetus",
states Julian Jäger, Member of the Management Board of Flughafen Wien
AG.

2.9% rise in passenger traffic in Q1-3/2014

Flughafen Wien AG reported a 2.9% increase in passenger traffic at
Vienna Airport in the first nine months of 2014 up to 17,220,242
passengers, including the strongest monthly volume in the company's
history featuring 2,275,933 passengers in August 2014. The number of
local passengers rose by 5.2% in Q1-3/ 2014, whereas the number of
transfer passengers fell by 2.8%. This can be primarily attributed to
the 4.7% drop in passenger traffic to Eastern Europe in the first
three quarters of the year caused mainly by the Ukraine crisis. In
contrast, there was a 3.6% rise in the number of passengers
travelling to Western Europe in the same period. Passenger traffic to
North America developed gratifyingly in Q1-3/2014, climbing by 29.2%,
while the number of passengers flying to destinations in the Far East
rose by 14.0%. This development was mainly driven by the new Austrian
Airlines flight connections to Newark and Chicago and the assumption
of flight service to Peking by Air China. Middle Eastern destinations
registered a 4.1% rise in passenger volume in Q1-3/2014.

The number of flight movements also rose marginally, increasing by
0.2% to 175,683 starts and landings during the period January to
September 2014. The maximum take-off weight was up 3.5% to 6,174,010
tonnes, and capacity utilisation of the aircraft improved as
reflected in the increased seat load factor of 75.6%. Cargo volume
(air cargo and trucking) also developed very well, rising by 7.3% to
199,165 tonnes.

Revenue development of the segments

In the first nine months of 2014, external revenue of the Airport
Segment climbed 4.5% year-on-year to EUR 262.1 million. The Handling
segment reported a 4.5% drop in external revenue to EUR 109.8 million
due to the mild winter and the resulting decline in income from
aircraft de-icing services. The Retail & Properties Segment generated
a 1.8% revenue increase to EUR 93.3 million. External revenue of the
"Other Segments" segment fell by 9.6% to EUR 11.7 million.

Investments

The total investments of EUR 54.1 million in the first three quarters
of 2014 included EUR 10.9 million for construction of a new
maintenance hangar, EUR 6.2 million for the modernisation of Pier
West and EUR 5.2 million for the environmental fund and technical
noise protection.

Traffic development in October 2014: Passenger increase of 1.4%

In October 2014 the number of passengers handled by Vienna Airport
was up 1.4% in a year-on-year comparison to 2,038,924 people. Total
flight movements climbed by 0.7%, whereas the maximum take-off weight
grew by 4.1% and cargo volume rose by 10.8%.

The number of transfer passengers at Vienna Airport fell by 5.1% from
the prior- year level. One major factor underlying this development
was the passenger decline to Eastern European destinations as a
consequence of the crisis situation in the Ukraine. The number of
local passengers rose by 4.1% in the same period, which more than
compensated for the crisis-related decrease in transfer passenger
traffic.

The number of passengers departing for Western Europe in October 2014
was up 1.4%, in contrast to the 11.8% decrease in passengers
travelling to Eastern Europe related to the Ukraine crisis. The
Middle East reported a 0.6% increase in October 2014, whereas
passenger traffic to the Far East was up 13.1%. Passenger volumes to
North America rose sharply, climbing by 29.4% compared to October
2013. This development is mainly due to the launch of flight service
to Newark (USA) by Austrian Airlines and the increase in the
frequency of its flights to Chicago (USA).

Good development of strategic investments in Malta and Kosice

The strategic investments of Flughafen Wien AG also developed well.
Malta Airport reported a cumulative passenger growth of 6.7% in the
period January- October 2014 to 3.8 million passengers in the first
ten months of the year. The number of passengers handled by Kosice
Airport also rose by 53.7% in the same period to 320,554 passengers.

Results in detail

October 2014 Change in % January to Change in %
October 2014

Passengers: 2,038,924 +1.4 19,259,585 +2.7
Local
passengers: 1,409,463 +4.1 13,491,966 +5.1
Transfer
passengers: 620,588 -5.1 5,706,716 -3.1
Maximum take-

off weight (in tonnes): 743,042 +4.1
6,917,030 +3.6 Flight movements (arrival & departure):
20,654 +0.7 196,336 +0.2 Cargo in
tonnes

(air cargo and
trucking): 26,974 +10.8 226,589 +7.7

Key Indicators of the Consolidated Interim Financial Statement
Indicators as of September 30, 2014

Income Statement

in EUR million Q1-3/2014 Q1-3/2013 Change in %

Revenue 476.8 470.3 1.4
Other operating
income 11.2 16.5 -32.5
Operating income 488.0 486.8 0.2

Consumables and
services used -28.2 -34.7 -18.6
Personnel expenses -188.2 -185.4 1.6
Other operating
expenses -70.8 -75.3 -6.0
Earnings before

interest, taxes,
depreciation and
amortisation

(EBITDA) 200.8 191.5 4.8
Depreciation and
amortisation -95.0 -92.0 3.2
Impairments 0.0 5.1 -100.0
Earnings before

interest and taxes (EBIT) 105.8
94.4 12.1 Income from investments excl.

companies at equity 0.1 2.3 -94.1
Interest income 1.1 1.4 -21.4
Interest expense -18.4 -19.8 -6.9
Other financial
results 0.1 0.0 n.a.
Financial results

excl. companies at equity -17.1
-16.0 6.7 Result from companies accounted for using
the

equity method 8.8 5.2 69.2
Financial results -8.3 -10.8 -23.2

Earnings before
taxes (EBT) 97.5 83.6 16.7

Income taxes -22.6 -19.2 17.6
Net profit for the
period 74.9 64.3 16.4

Thereof
attributable to:
Equity holders of
the parent 75.4 64.3 17.2
Non-Controlling
interests -0.5 0.0 n.a.

Earnings per share
(in EUR, basic =
diluted) 3.59 3.06 17.2

Balance sheet Indicators
in EUR million 30.9.2014 31.12.2013 Change in %

ASSETS:
Non-current assets 1,819.3 1,857.6 -2.1
Current assets 86.7 96.3 -10.0

EQUITY AND
LIABILITIES:
Equity 947.4 905.9 4.6
Non-current
liabilities 718.1 748.2 -4.0
Current liabilities 240.5 299.8 -19.8

Balance sheet total 1,906.0 1,953.9 -2.5

Net debt 519.9 633.4 -17.9
Gearing (in %) 54.9 69.9 n.a.

Cash flow Statement

in EUR million Q1-3/2014 Q1-3/2013
Change in %

Cash flow from operating activities 186.8
171.3 9.0 Cash flow from investing

activities -47.5 -59.0 -19.5
Cash flow financing
activities -140.0 -144.9 -3.4

Free cash flow 139.3 112.3 24.0

CAPEX 54.1 55.2 -2.0

The report by Flughafen Wien AG of the first nine months of 2014,
from January 1 to September 30, 2014, is available to the general
public at the company's offices at 1300 Flughafen Wien and at Bank
Austria, 1010 Vienna, Schottengasse 6-8. It is also available on the
Internet at http://viennaairport.com/en/
company/investor_relations/publications_and_reports/quarterly_reports

The Management Board of Flughafen Wien AG

November 18, 2014

Further inquiry note:
Investor Relations:
Mag. Judit Helenyi (+43-1)7007-23126; j.helenyi@viennaairport.com
Mario Santi (+43-1)7007-22826; m.santi@viennaairport.com

end of announcement euro adhoc
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company: Flughafen Wien AG
Postfach 1
A-1300 Wien-Flughafen
phone: +43 1 7007 - 22826
FAX: +43 1 7007 - 23806
mail: investor-relations@viennaairport.com
WWW: http://viennaairport.com/unternehmen/investor_relations
sector: Transport
ISIN: AT0000911805
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English