AUSTRIA. Flughafen Wien (Vienna Airport) Group has issued an upbeat forecast for 2022, with continued recovery expected across key financial indicators and passenger traffic.
Announcing full-year results for 2021 today, the company said it expects revenue of around €560 million, a positive EBITDA of at least €172 million and a positive consolidated net profit of at least €20 million in the financial year ahead. This compares to 2021 revenue of €407 million, EBITDA of €153.7 million and a net profit of €6.1 million.
The group is forecasting about 17 million passengers at Vienna Airport and 21 million group-wide (including Malta and Kosice airports), which is around 54% of 2019 levels. 2021 figures, previously reported, showed that 10.4 million passengers passed through Vienna Airport last year, down by -67.1% on 2019. The three group airports combined served 13.1 million travellers, down by -66.8% on 2019.
In the short term, the Ukraine crisis has “increased uncertainty”, the airport said in a statement. All flights between Russia, Ukraine and Vienna (around 41 per week to the end of February) are currently cancelled, which directly affects about 4% of passenger volumes.
The Retail & Properties Segment reported a rise in revenue of +16.9% in 2021 to €82.4 million. Within this, centre management and hospitality revenue increased by +33.2% year-on-year to €34.1 million, with car parking rising +19.3% to €21 million. EBIT within this division amounted to €30.5 million.
Looking ahead, Vienna Airport greeted the planned opening of more Austrian dining outlets in 2022, including Wolfgang Puck, Bieder & Maier, Veganista/The LaLa and Trzesniewski.
Redesigned Terminal 2
Highlights of the period ahead include the opening of the redesigned Terminal 2 on 29 March, which Vienna Airport said would represent “a completely new travel experience”.
It will feature new shops and restaurants, a centralised security checkpoint and a 2,400sq m lounge with views of the airport apron. The City Airport Train will also resume operations on 29 March.
Vienna Airport Member of the Management Board Günther Ofner said: “Flughafen Wien AG concluded the year 2021 with positive business results in spite of the coronavirus crisis and was clearly above the break-even point in contrast to many other airports. This was due to stringent cost-saving measures, the short-time working scheme and most recently thanks to rising passenger volumes.
“We are led to expect a strong upswing and more passengers in 2022. I would like to thank all employees for their great commitment in this tough crisis period and in spite of their salary cut. Now it is important to further reduce travel restrictions and end the blanket entry checks at the airport. Instead, in the future passengers should only be checked before departure.
“We are currently concerned about the current events in the Ukraine. I welcome the decisive response of the West and the sanctions which were adopted. We are prepared, similar to 2015, to participate in welcoming and taking care of refugees. The current flight cancellations involve about 4% of passenger volumes, but the indirect impacts are not yet foreseeable. In spite of the crisis-related uncertainty, we continue to focus on climate protection. Austria’s largest photovoltaic facility will soon come on stream and help enable CO2 neutral operations starting in 2023.”
Member of the Management Board Julian Jäger said that “despite uncertainties, a strong summer season is ahead of us”.
He added: “Numerous airlines and flight connections will return, and the Summer flight schedule is promising. Passengers will be able to reach about 165 destinations directly from Vienna Airport at Easter and up to 190 destinations in the Summer season of 2022, which is close to the pre-crisis level. However, it is difficult to predict how business in the autumn and the fourth quarter will actually turn out to be. This mainly depends on the further development of the COVID-19 pandemic.”
