EANS-News: Flughafen Wien Group Maintains Upward Trend: Passenger Growth and Strong Earnings Improvement in the First Nine Months of 2016

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quarterly report

Flughafen Wien Group Maintains Upward Trend: Passenger Growth and
Strong Earnings Improvement in the First Nine Months of 2016

- REVENUE increase to EUR 545.4 million (+10.2%), EBITDA rise to EUR
306.5 million (+13.1% or EUR 254.7 million clean i.e. adjusted for
upward revaluation of stake in Malta Airport), EBIT of EUR 208.7
million (clean: + 25.7% or EUR 156.9 million)

- NET PROFIT FOR THE PERIOD* up considerably to EUR 150.6 million
(clean rise of 17.1% to EUR 98.8 million)

- NET DEBT further reduced to EUR 370.8 million (down EUR 95.2
million from the end of 2015) - 2016 target already achieved

- Increase in the free cash flow to EUR 206.8 million (+48.7% from
EUR 139.1 million in Q1-3/2015)

- Positive guidance confirmed for 2016: increase in revenue to EUR
725 million, EBITDA to EUR 310 million and the net profit for the
period before non- controlling interests clean i.e. adjusted for
Malta revaluation to EUR 115 million

- Traffic guidance for 2016 for the Vienna Airport site also
confirmed: passenger growth at the upper end of the projected range
between 0% and 2%

- October 2016: +6.5% passenger increase, +4.8% rise in cargo volume
at Vienna Airport

* Profit for the period attributable to the parent company

"The Flughafen Wien Group is continuing its upward trend. All
relevant financial performance indicators could be significantly
improved in three economically strong quarters, featuring increases
in revenue, EBITDA and the net profit for the period. Thanks to the
consistent reduction of net debt, the 2016 target below the EUR 400
million mark has already been reached. The outlook is positive, and
we expect to achieve our financial objectives for the entire year
2016. The Vienna Airport site is thriving, and the development of the
Airport City is contributing greatly to this. Twelve companies have
already decided to locate their operations at the flight hub,
creating about 600 additional jobs", explains Günther Ofner, Member
of the Management Board of Flughafen Wien AG.

"In spite of crisis-related challenges, 2016 has been a record year
for some individual destinations. Following the month of July, the
strongest in terms of passenger volume (2,431,583 passengers), and
the busiest day of the year in September (89,361 passengers), the
17.7 million passengers handled by Vienna Airport in the first nine
months of 2016 comprises a new passenger record in the airport's
history. The month of October, which showed a 6.5% rise in the number
of passengers, also developed very well, and we expect total
passenger volume in 2016 to be at the upper end of the projected
range between 0% and 2%. There are already new developments in the
flight offering for 2017, with the addition of Los Angeles, the
Seychelles and other destinations", states Julian Jäger, Member of
the Management Board of Flughafen Wien AG.

Traffic development in Q1-3/2016: Flughafen Wien Group handles 21.9
million passengers

Flughafen Wien Group including its foreign strategic investments in
Malta Airport and Košice Airport handled 21.9 million passengers in
the period January to September 2016, representing a 2.2% increase in
passenger volume compared to the previous year.

Vienna Airport: 1.1% passenger growth in the first nine months of
2016

Vienna Airport reported a new passenger record in the airport's
history, handling a total of 17,677,012 travellers from January to
September 2016, a rise of 1.1% from the prior-year period. The number
of local passengers was up 2.9% in the first nine months of 2016,
whereas the number of transfer passengers fell by 3.4%. Passenger
volume to Western Europe climbed by 2.0%, in contrast to the 2.2%
drop in the number of passengers flying to Eastern European
destinations as a consequence of the economic situation in Russia and
capacity reductions by the airlines. Far Eastern destinations showed
1.3% growth in passenger volume, and the number of passengers to the
Middle East rose by 4.1%. The total number of passengers flying to
North America was up 3.2%. In contrast, passenger volume to Africa
decreased by 19.0% due to the politically unstable situation in North
African regions.

The number of flight movements fell 0.9% in the period January to
September 2016 to 171,502 starts and landings. The average seat
occupancy (seat load factor) in the first nine months of 2016
equalled 73.6%, down from the comparable level of 74.7% in Q1-3/2015.
In contrast, cargo volume (air cargo and trucking) increased by 5.0%
in the same period to 208,830 tonnes.

Good traffic results and business development at Malta and Košice
Airports

The foreign strategic investments of the Flughafen Wien Group in
Malta and Košice Airports continued to develop well. Malta Airport
reported growth of 7.5% to reach a volume of 3,894,040 passengers in
the first nine months of 2016. The most important markets for Malta
Airport were Great Britain, Italy and Germany. Košice Airport handled
a total of 346,563 passengers in the same period, comprising a rise
of 5.5% in a year-on-year comparison.

Significant improvement of financial performance indicators in
Q1-3/2016

Revenue of the Flughafen Wien Group in the first nine months of 2016
rose 10.2% to EUR 545.4 million. In addition to the positive
passenger development and higher income in the Handling Segment, the
increase in revenue is mainly attributable to the full consolidation
of Malta Airport as of the second quarter of 2016. With the
conclusion of the transaction in which Flughafen Wien AG increased
its shareholding in Malta Airport and the formal closing on March 30,
2016, the stake was subject to a revaluation and fully consolidated
in the consolidated financial statements of the Flughafen Wien Group
starting at the end of the first quarter of 2016.

Increase of 17.1% in clean net profit for the period* in Q1-3/2016

EBITDA improved to EUR 306.5 million (+36.1%), whereas EBIT was up to
EUR 208.7 million (+67.2%) and the net profit for the period after
non-controlling interests rose 78.5% to EUR 150.6 million. Adjusted
for the one-off effect relating to the upward valuation of the stake
in Malta Airport, clean EBITDA totalled EUR 254.7 million (+13.1% vs.
the adjusted Q1-3/2015 of EUR 225.2 million), and clean EBIT amounted
to EUR 156.9 million (+25.7% vs. the adjusted Q1-3/2015 of EUR 124.8
million). Adjusted for this one-off effect, the clean net profit of
the period of the parent company in Q1-3/2016 improved to EUR 98.8
million (+17.1% vs. Q1-3/2015 of EUR 84.4 million). Net debt was
reduced once again to EUR 370.8 million. The free cash flow rose to
EUR 206.8 million (up 48.7% from EUR 139.1 million in Q1-3/2015).

* Profit for the period attributable to the parent company

Revenue and earnings development in the segments

Revenue of the Airport Segment climbed 3.1% in Q1-3/2016 from the
prior-year period to EUR 281.5 million. Segment EBIT improved by
34.4% to EUR 70.8 million (Q1-3/2015: EUR 52.7 million). The Handling
Segment showed a 2.6% increase in revenue to EUR 116.6 million, and
segment EBIT was up 5.2% to EUR 12.4 million (Q1-3/2015: EUR 11.8
million.). This includes the security services provided by VIAS as
well as the handling services of Vienna Aircraft Handling (VAH). The
Retail & Properties Segment reported a revenue decrease of 5.3% in
the first nine months of 2016 to EUR 91.7 million. This decline is
mainly due to the lower rental income relating to a special effect of
a finance lease agreement in conjunction with the acquisition of
Hermione, as well as the restrained development of parking and retail
revenue. EBIT of the Retail and Properties Segment amounted to EUR
45.7 million (-2.9% from EUR 47.1 million in Q1-3/2015). The
development of revenue in the Other Segments was stable, dropping
slightly by 0.1% to EUR 11.7 million (Q1-3/2015: EUR 11.7 million).
Segment EBIT showed a disproportionately high increase to EUR 58.0
million as a result of the revaluation of the stake held in Malta
Airport. With the closing of the transaction on March 30, 2016, the
strategic investment in Malta Airport now belongs to the group of
companies which are fully consolidated in the consolidated financial
statements of the Flughafen Wien Group. For this reason, these
business results are reported as the new Malta Segment as of the
second quarter of 2016. Revenue of the Malta Segment amounted to EUR
43.9 million in the second and third quarters of 2016, and the
segment's EBIT totalled EUR 21.8 million.

Investments

Of the total investments (excluding business acquisitions) amounting
to EUR 69.0 million in the first nine months of 2016, EUR 23.9
million related to investments in the Runway System 11/29 (runway
modernisation), EUR 8.0 million was for investments in connection
with the 3rd Runway and EUR 2.4 million involved the renovation of an
operations building. Total investments in the year 2016 are expected
to be about EUR 95 million (excluding the business acquisition in
Malta Airport). The following values were added to the consolidated
balance sheet as of March 30, 2016 on a provisional basis from the
acquisition of Group companies in connection with Malta Airport: EUR
61.3 million for goodwill, EUR 0.9 million for intangible assets and
EUR 363.8 million for property, plant and equipment and investment
property.

Traffic development in October 2016:

Flughafen Wien Group reports passenger volume of 2.7 million (+7.2%),
accumulated passenger growth of 2.8% in the period January to October
2016

In October 2016, Flughafen Wien AG including its strategic foreign
investments in Malta and Kosice Airports handled a total of 2.7
million passengers, comprising an increase of 7.2% from October 2015.
The accumulated passenger volume for the Flughafen Wien Group rose
2.8% to 24.6 million in the period January to October 2016.

Vienna Airport in October 2016: 6.5% increase in number of
passengers, 4.8% rise in cargo volume

The number of passengers handled by Vienna Airport in the month of
October 2016 climbed 6.5% from the previous year to 2,166,810
passengers. The number of local passengers climbed by 7.5% and the
number of transfer passengers increased by 4.2%. The number of flight
movements at Vienna Airport increased by 1.7% in October 2016. Vienna
Airport reported a growth in cargo volume of 4.8% compared to October
2015.

The number of passengers at Vienna Airport flying to destinations in
Western Europe was up 8.3% and passenger traffic to Eastern European
rose by 6.4%. Passenger volume to the Far East climbed 1.1% in
October 2016 and the number of passengers travelling to destinations
in the Middle East rose by the 9.8%. Passenger volume to North
America climbed 6.2% and passenger growth to Africa was 3.2%.

The number of passengers handled by Malta Airport rose 10.4% in
October 2016, and passenger volume at Košice Airport was up 6.1%.

Presentation of traffic results

Following the increase of the stake held by Flughafen Wien AG in
Malta Airport at the end of March 2016, the strategic investment is
fully consolidated in the interim consolidated financial statements
of the Flughafen Wien Group beginning at the end of the first quarter
of 2016. For this reason, the entire traffic results for Flughafen
Wien AG and its foreign strategic investments have been included in
the monthly reports since April 2016. The traffic results for Vienna
Airport correspond to the comparable values of the monthly
announcements of traffic results up to and including the month of
March 2016.

Results in detail: Traffic development in October 2016:

_____________________________________________________________________
_________ | | |
|January-October| |

|______________|_October_2016__|__Change_in_%__|_____2016______|__Change_in_%__|
|Vienna_Airport_(VIE)__________________________________________________________|
|Passengers____|______2,166,810|___________+6.5|_____19,843,778|___________+1.7|

|Local | | | |
| |passengers____|______1,545,460|___________+7.5|_____14,398,502|___
________+3.4| |Transfer | | |
| | |passengers____|________612,500|___________+4.2|___
___5,362,546|___________-2.6|

|Flight | | | | |
|movements | | | | |
|(arrivals and | | | | |

|departures)___|_________20,349|___________+1.7|________191,851|_____
______-0.6| |Cargo in tons | | |
| | |(air cargo and| | |
| |

|trucking)_____|_________27,029|___________+4.8|________235,833|___________+4.9|
|Malta_Airport_(MLA,_fully_consolidated)_______________________________________|
|Passengers____|________512,739|__________+10.4|______4,406,779|___________+7.8|

|Local | | | |
| |passengers____|________511,713|__________+10.8|______4,398,379|___
________+8.0| |Transfer | | |
| | |passengers____|__________1,026|__________-63.7|___
_______8,400|__________-43.8|

|Flight | | | | |
|movements | | | | |
|(arrivals and | | | | |

|departures)___|__________3,466|___________+3.2|_________30,951|_____
______+2.5| |Cargo in tons | | |
| | |(air cargo and| | |
| |

|trucking)_____|__________1,363|___________-1.2|_________11,495|___________-3.8|
|Kosice_Airport_(KSC,_consolidated_at_equity)__________________________________|
|Passengers____|_________31,437|___________+6.1|________378,000|___________+5.6|

|Local | | | |
| |passengers____|_________31,437|___________+6.1|________378,000|___
________+5.6| |Transfer | | |
| | |passengers____|______________-|______________-|___
___________-|______________-|

|Flight | | | | |
|movements | | | | |
|(arrivals and | | | | |

|departures)___|____________653|__________-19.6|__________8,120|_____
_____+12.4| |Cargo in tons | | |
| | |(air cargo and| | |
| |

|trucking)_____|______________5|__________-78.8|_____________80|__________-59.7|
|_Vienna_Airport_and_strategic_investments_(VIE,_MLA,_KSC)_____________________|
|Passengers____|______2,710,986|___________+7.2|_____24,628,557|___________+2.8|

|Local | | | |
| |passengers____|______2,088,610|___________+8.3|_____19,174,881|___
________+4.4| |Transfer | | |
| | |passengers____|________613,526|___________+3.9|___
___5,370,946|___________-2.7|

|Flight | | | | |
|movements | | | | |
|(arrivals and | | | | |

|departures)___|_________24,468|___________+1.2|________230,922|_____
______+0.2| |Cargo in tons | | |
| | |(air cargo and| | |
| | |trucking)_____|_________28,397|___________+4.4|___
_____247,407|___________+4.4|

Consolidated Interim Financial Statements as of 30 September 2016

______________________________________________________________________________
|in_EUR_million____|__________Q1-3/2016|_________Q1-3/2015*|________Change_in_%|
|Revenue___________|______________545.4|______________495.1|______________+10.2|

|Other operating | | |
| |income____________|________________9.0|________________7.0|_______
_______+29.7| |Other operating | |
| | |income____________|______________554.4|_______
_______502.1|______________+10.4| |__________________|_______________
____|___________________|___________________| |Consumables and |
| | | |services_used_____|_______
_______-24.4|______________-25.5|_______________-4.3| |Personnel_expe
nses|_____________-198.4|_____________-191.1|_______________+3.8|
|Other operating | | |
| |expenses__________|______________-80.5|______________-66.9|_______
_______+20.2|

|Proportional share| | | |
|of income from | | | |
|companies recorded| | | |
|at_equity_________|________________3.5|________________6.7|______________-47.9|
|Revaluation of | | | |
|companies recorded| | | |
|at equity due to | | | |
|company | | | |
|acquisitions______|_______________51.8|__________________-|_______________n.a.|
|Earnings before | | | |
|interest, taxes, | | | |
|depreciation and | | | |
|amortisation | | | |

|(EBITDA)__________|______________306.5|______________225.2|_________
_____+36.1| |Scheduled | |
| | |depreciation and | |
| | |amortisation______|_____________-101.7|_______
______-100.4|_______________+1.4| |Reversal of |
| | | |impairment________|_______
_________3.9|__________________-|_______________n.a.| |Earnings
before | | |
| |interest and taxes| | |
| |(EBIT)____________|______________208.7|______________124.8|_______
_______+67.2| |__________________|___________________|_______________
____|___________________|

|Income from | | | |
|investments, | | | |
|excluding | | | |
|investments | | | |
|recorded_at_equity|________________0.7|________________0.3|_____________+151.1|
|Interest_income___|________________2.5|________________1.5|______________+71.7|
|Interest_expense__|______________-16.6|______________-16.8|_______________-1.5|
|Other financial | | | |
|result____________|__________________-|_______________-0.1|_____________-100.0|
|Financial_result__|______________-13.4|______________-15.2|______________-11.9|
|__________________|___________________|___________________|___________________|
|Earnings before | | | |
|taxes_(EBT)_______|______________195.3|______________109.6|______________+78.2|
|__________________|___________________|___________________|___________________|
|Income_taxes______|______________-37.2|______________-25.3|______________+47.1|

|Net profit for the| | |
| |period____________|______________158.1|_______________84.4|_______
_______+87.5| |__________________|___________________|_______________
____|___________________| |Thereof |
| |attributable_to:__|_______________________________________________
____________| |Equity holders of | |
| | |the_parent________|______________150.6|_______
________84.4|______________+78.5| |Non-controlling |
| | | |interests_________|_______
_________7.5|_______________-0.0|_______________n.a.| |______________
____|___________________|___________________|___________________|
|Earnings per share| | |
| |(in EUR, basic = | | |
| |diluted)__________|_______________1.79|_______________1.01|_______
_______+78.5|

* adjusted for at-equity results

Balance Sheet Indicators

______________________________________________________________________________
|in_EUR_million____|___________30.9.016|_________31.12.2015|________Change_in_%|
|ASSETS:___________|___________________|___________________|___________________|
|Non-current_assets|____________2,079.3|____________1,748.6|______________+18.9|
|Current_assets____|______________170.9|______________161.1|_______________+6.1|
|__________________|___________________|___________________|___________________|
|LIABILITIES:______|___________________|___________________|___________________|
|Equity____________|____________1,254.2|____________1,020.0|______________+23.0|
|Non-current | | | |
|liabilities_______|______________702.3|______________579.1|______________+21.3|
|Current | | | |
|liabilities_______|______________293.8|______________310.6|_______________-5.4|
|__________________|___________________|___________________|___________________|
|Total equity and | | | |
|liabilities_______|____________2,250.2|____________1,909.7|______________+17.8|
|__________________|___________________|___________________|___________________|
|Net_debt__________|______________370.8|______________466.0|______________-20.4|
|Gearing_(in%)_____|_______________29.6|_______________45.7|____________-16.1p%|

Cash Flow Statement

______________________________________________________________________________
|in_EUR_million____|__________Q1-3/2016|__________Q1-3/2015|________Change_in_%|
|Net cash flow from| | | |
|operating | | | |
|activities________|______________209.8|______________186.6|______________+12.4|
| investing | | | |
|activities________|_______________-2.9|______________-47.5|______________-93.9|
| financing | | | |
|activities________|_____________-139.3|______________-78.2|______________+78.1|
|__________________|___________________|___________________|___________________|
|Free_cash_flow____|______________206.8|______________139.1|______________+48.7|
|__________________|___________________|___________________|___________________|
|CAPEX*____________|_______________69.0|_______________45.0|______________+53.3|

* Excluding financial assets and business acquisitions

The report by Flughafen Wien AG for the first six months of 2016,
from January 1 to September 30, 2016, 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

Vienna Airport, November 15, 2016

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: AT00000VIE62
indexes: ATX Prime
stockmarkets: official market: Wien
language: English

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