AUSTRIA. Vienna Airport Group posted an encouraging recovery in revenue and profits for the first nine months, as travel demand has risen sharply.

Group revenue leapt by +85.1% year-on-year to €508 million, EBITDA more than doubled to €256 million and net profit reached €109.3 million compared to a loss of €100,000 in the January-September period a year ago.

Vienna Airport nine-month performance by division; click to enlarge

The Retail & Properties Segment reported a +77% rise in revenue to €98.2 million in the first three quarters. This was driven by higher revenue from centre management and hospitality, which more than doubled by +130.1% to €45.5 million and by parking revenue, which also rose sharply from €14.6 million last year to €31.7 million.

Retail & Properties revenue in the first nine months; click to enlarge

The financial figures were boosted by a +163.6% surge in passenger traffic group-wide to 22.3 million, with Vienna Airport up +156.5% to 17.4 million. Encouragingly, this continued into October, with Vienna Airport serving 2.4 million passengers or 86% of pre-pandemic levels.

Management Board Member Günther Ofner said: “The renewed desire to travel continued once again in the third quarter of 2022. Revenue and net profit rose considerably, and the company is almost debt-free before it begins with new and large-scale investments. This will enable us to further invest in climate protection, and construction work has already commenced on doubling our solar power production on an area covering about 45 hectares in the future, the largest such facility in Austria. Starting in January of 2023, Vienna Airport will operate in a CO₂ neutral manner, making it one of Europe’s first green airports.”

Management Board Member Julian Jäger said: “The autumn season is also proceeding well following a strong summer featuring passenger volumes at close to 90% of the pre-crisis level. I am also optimistic concerning the winter season. Numerous airlines are expanding their destination offering in the 2022/23 winter flight schedule and long-haul flight service is also bouncing back thanks to new or additional flight connections to Beijing, Taipei, Seoul, Addis Ababa and other travel destinations.”

For the full year, the group is now forecasting around 29 million passengers in total and about 23 million at Vienna Airport. This should lead to net profit for the year of around €115 million.

Key financials for the group; click to enlarge

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