AUSTRIA. Flughafen Wien AG’s (Vienna Airport) Retail and Properties revenue performance outstripped passenger traffic growth during the first half year.
The airport company, which controls Vienna, Malta (96%) and Košice (Slovakia, 66%) airports, posted an +11.2% year-on-year income growth in its Retail & Properties division to €93.7 million (US$104.1 million), with notable gains in food & beverage and duty-free.
The group highlighted a strong food & beverage performance, driven by expanded space and new restaurants at flagship Vienna International Airport.
The second half will be buoyed by the expanded Vienna International Airport Terminal 2 Plaza duty-free offering (run by Gebr. Heinemann), which opened at the end of July.
Center Management & Hospitality income grew by +12.9%, while parking and rental fees rose by +9.4% and +9.9%, respectively.
The positive performance was partly driven by a +7.9% year-on-year increase in passenger traffic to 14.4 million at Vienna International Airport. Malta International Airport posted an +18.4% rise in passenger volumes to 4.1 million while traffic at Košice International increased +9.5% to 0.3 million.
EBIT from the segment rose +12.2% to €40.3 million (US$44.8 million) and EBITDA jumped +10% to €50.3 million (US$55.9).
Overall, the group’s first-half revenue reached €488.4 million (US$543 million), +14.1% higher than the same period last year.
EBITDA hit €204.9 million (U$S227.8 million), up +15.5%, while EBIT increased +23.2% to €138.7 million (US$154.2 million).
Group net profit rose sharply, up +31.1% to €108.4 million (US$120.5 million).
Vienna Airport AG Joint CEO and CFO Dr. Günther Ofner said: “In 2024, Vienna Airport is also making heavy, counter-cyclical investments of more than €200 million. Work on the Southern Expansion terminal project is in full swing, and construction of a new hotel will already begin in September.”
The airport company remains optimistic for this year, projecting total revenue to surpass €1 billion (US$1.11 billion) by the end of 2024, with EBITDA set to exceed €400 million (US$ 444.7 million) and group net profit for the year before non-controlling interests of at least €220 million (US$244.6 million).
Fellow Joint CEO and COO Julian Jäger added: “We are flying from record to record: The first half-year already developed very well, with passenger growth of +7.9% in Vienna and +10.1% in the Flughafen Wien Group, but summer passenger traffic is really taking off.”
The upward trend continued in the busy travel month of July with passenger numbers at Vienna Airport hitting a record high of 3.24 million (+5.7%), +5.1% higher than the July 2019 level – the first time pre-pandemic levels have been exceeded.
On average, the airport served 107,000 passengers each day last month, with 26 July marking a record high of 115,989 travellers in a single day.
Jäger continued: “For this reason, we are very optimistic with respect to the entire year 2024, and expect more than 39 million passengers in the Flughafen Wien Group and in excess of 30 million at Vienna Airport.
“With the new Southern Expansion terminal project, we are now taking the next leap in quality into the top league of international airports. On around 70,000sq m, we are creating more lounge, dining and shopping areas for our travellers, as well as new lounges and additional security checkpoints. Construction work is in full swing and we look forward to putting the Southern Expansion into operation in 2027.” ✈
