Vienna-Schwechat Airport had around 10,4 million passengers last year, significantly fewer than before the corona pandemic. Financially, however, one got away with the proverbial “black eye”.
Vienna Airport, including its foreign subsidiaries Malta Airport and Kosice Airport, recorded a total of 13,1 million passengers in 2021, a passenger drop of 66,8 percent compared to the pre-crisis year 2019. Vienna Airport also recorded a massive drop in passengers in 2021 and counted 10.405.523 .2021 passengers in 67,1, still 2019 percent fewer travelers compared to pre-crisis levels (XNUMX).
For the current year 2022, the Executive Board expects around 21 million passengers across the group. Of these, around 17 million travelers are said to be in Vienna-Schwechat. While from today's perspective the first three to six months will still be weak, a significant increase in passengers is expected from the summer and in the second half of the year.
"Despite the corona crisis, Flughafen Wien AG was able to close 2021 positively and, in contrast to most other airports, was clearly in the black thanks to a tough austerity program, short-time work and the recent increase in passenger numbers. 2022 promises a strong upswing and more passengers. I would like to thank all employees for their great commitment during this difficult time of crisis, despite the salary reduction. What is now important is the further dismantling of travel restrictions and an end to all entry checks at the airport. Instead, checks should only be carried out before departure in the future. We are deeply concerned by the current events in Ukraine and I welcome the West's determined response and sanctions. As in 2015, we are ready at any time to participate in the reception and care of refugees. The current flight cancellations affect around 4% of the passenger volume, indirect effects cannot yet be estimated. Despite the uncertainty caused by the crisis, climate protection is still our focus: Austria's largest photovoltaic system at the airport will soon go into operation in order to make airport operations CO2023-neutral from 2," says Günther Ofner, CEO of Flughafen Wien AG.
Terminal 2 and City Airport Train will start on March 29, 2022
From today's perspective, the redesigned Terminal 29 will go into operation on March 2022, 2 and offer passengers a completely new travel experience: In addition to the new central security checkpoint and the new shopping and dining options, one highlight is the new airport lounge on around 2.400 m² overlooking the airport apron. The City Airport Train will also resume operations on March 29, 2022 and will offer travelers the usual fast and comfortable connection directly to Vienna's city center, as well as free WiFi on board.
"On March 29, 2022, the redesigned Terminal 2 will go back into operation. Passengers can look forward to a completely new travel experience in a modern ambience with a lounge measuring around 2.400 m², a central security checkpoint and an additional baggage claim station. The trains of the City Airport Train will also run regularly again from this day on," says Julian Jäger, CEO of Flughafen Wien AG. “At Easter, around 165 and in summer up to 190 destinations can be reached directly from Vienna, which is almost the same as before the crisis. It is still difficult to assess how the autumn and the fourth quarter will develop, as this mainly depends on the further development of the COVID-19 pandemic. The current events in Ukraine are very tragic, especially for those affected, who have to experience unbelievable suffering here, and I hope that the acts of war will end soon. The crisis is also noticeable in international aviation, there are currently no flights between Russia, Ukraine and Vienna. Nevertheless, due to the overall good traffic development and the strong summer flight schedule, from today's perspective we expect around 17 million passengers at the Vienna location in 2022 as a whole - that would be 70 percent more than in the previous year".
Terminal 1A, on the other hand, will remain closed. Although the number of passengers is on the upswing, they are not yet at the level to be able to reactivate Terminal 1A. "If there is a future need, the pier can be put back into operation in a very short time," said VIE board member Julian Jäger in the online press conference on the balance sheet results.
Sales increased by around 2020 percent compared to 27,4
Revenues in the Airport segment increased by 2021% year-on-year to €27,4 million in 169,5, segment EBIT improved to minus €14,6 million. The Handling & Security Services segment recorded a Growth of 9,7% to € 94,4 million, the segment EBIT improved to minus € 6,6 million. This also includes the security services of VIAS and the handling services of Vienna Aircraft Handling (VAH) and Vienna Passenger Handling Services (VPHS) included. In the Retail & Properties segment, sales increased by 2021% to € 16,9 million in 82,4. The segment EBIT amounted to € 30,5 million. The sales of the Malta segment increased by 2021% to € in 47,3 47,4 million, the segment EBIT amounted to € 11,0 million. Revenues in the "Other segments" segment increased by 2021% to € 11,8 million in 13,3. The segment EBIT was minus € 1,1 million
For 2022, the Management Board expects a positive Ebitda of around 172 million euros. The annual result is forecast at around 20 million euros. Net debt is expected to drop to around 50 million euros. Investments of around 84 million euros are planned.
The VIE numbers at a glance:
Consolidated income statement
In million € | 2021 | 2020 | change in % |
Sales | 407,0 | 333,7 | 22,0 |
Other company income | 17,1 | 7,5 | 128,0 |
Operating performance | 424,1 | 341,2 | 24,3 |
Expenses for material and purchased services | -29,8 | -29,3 | 1,4 |
Personnel expenses | -193,1 | -202,9 | -4,8 |
Other operating expenses | -47,6 | -52,1 | -8,7 |
Impairments / write-ups on accounts receivable | -0,2 | -1,6 | -90,2 |
Pro rata results for the period at equity companies | 0,2 | -1,2 | did |
Earnings before interest, taxes, depreciation and amortization (EBITDA) | 153,7 | 54,1 | 184,1 |
Scheduled depreciation | -134,1 | -132,5 | 1,2 |
impairments | -0,4 | -8,0 | -95,5 |
Earnings before interest and taxes (EBIT) | 19,2 | -86,5 | did |
Income from investments excluding at-equity companies | 0,5 | 0,5 | -8,9 |
Interest income | 2,0 | 2,2 | -11,2 |
Interest expense | -13,1 | -15,7 | -16,5 |
Other financial result | 0,2 | -1,5 | did |
Financial result | -10,4 | -14,4 | 27,9 |
Earnings before income taxes (EBT) | 8,8 | -100,9 | did |
Income taxes | -2,7 | 25,2 | did |
Profit or loss for the period | 6,1 | -75,7 | did |
This includes: | |||
Shareholder of the parent company | 3,2 | -72,8 | did |
Non-controlling interests | 2,9 | -3,0 | did |
Earnings per share (in €, diluted = undiluted) | 0,04 | -0,87 | did |
Balance sheet ratios
In million € | 31.12.2021 | 31.12.2020 | change in % |
ASSETS: | |||
Long-term wealth | 1.761,3 | 1.882,6 | -6,4 |
Short-term assets | 308,9 | 290,7 | 6,3 |
LIABILITIES: | |||
Equity | 1.313,9 | 1.305,5 | 0,6 |
Long term debt | 502,0 | 535,2 | -6,2 |
Short term debt | 254,2 | 332,6 | -23,6 |
total assets | 2.070,1 | 2.173,3 | -4,7 |
Net debt | 150,4 | 201,9 | -25,5 |
Gearing (in%) | 11,5 | 15,5 | did |
Cash flow statement
In million € | 2021 | 2020 | change in % |
Cash generated from operations | 105,8 | -23,0 | did |
from investing activities | -38,8 | 22,5 | did |
from financing activities | -116,4 | 88,8 | did |
Free cash flow | 66,9 | -0,5 | did |
CAPEX1 | 51,6 | 79,9 | -35,5 |