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AUSTRIA. Vienna Airport operator Flughafen Wien Group has reported a +7.6% increase in net profit in the first half of 2014, to €44.0 million, despite a challenging trading environment. Total revenue declined by -0.1% to €304.7 million while EBITDA grew by +5.0% to €126.5 million.
The airport’s Retail & Properties Segment increased revenue slightly, up by +1.1% to €61.3 million. Retail and F&B revenue grew by just €0.4 million, with the company citing the weakness of the Russian Rouble and Turkish Lira against the Euro as affecting retail and food & beverage spend from “above average consumption oriented passenger groups”.
The partial closure and redesign of retail and food & beverage areas also affected revenue, the airport said. But the opening of several new stores – including Victoria’s Secret and an enlarged Heinemann Duty Free store – and a new F&B agreement with DO & CO for the Pier West area marked the continuation of Vienna’s new service strategy, said Board Member Julian Jäger.
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(L-r) Heinemann Duty Free Vienna Retail Manager Constantin Wiesmann, Gebr Heinemann Executive Director Raoul Spanger, Flughafen Wien Board Member Julian Jäger and Senior Vice President Center Management Adil Raihani mark the opening of Heinemann’s new store in June |
“Modernisation work in [the Pier West] terminal area is in full swing and should be completed by the end of the year,” Jäger added.
Parking (+€0.9 million) and advertising (+€4.0 million) revenues both increased. Overall, Retail & Properties EBIT reached €31.78 million (+4.0%).
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Passenger traffic in the first six months of the year grew by +2.9% to 10.5 million. Local passenger traffic increased by +4.5%, while transfer traffic declined slightly by -1.1% – attributed to a -2.7% drop in passenger traffic to Eastern Europe caused mainly by the Ukraine crisis.
There was a rise in the number of passengers travelling to Western Europe and North America, by +3.9% and +25.2% respectively. Passenger traffic to the Middle East was up +5.2% while volumes to Asian destinations grew by +10.4%.
The group said it remains optimistic about prospects for the full year. Passenger traffic is expected to rise between +1% and +3%, and total revenue should climb to over €630 million. EBITDA is anticipated to surpass €240 million and net profit will be above €75 million, the company said.
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Victoria’s Secret opened its first store at Vienna Airport on 27 June |
