Vienna Airport Reports Strong Growth in the First Half of 2024
Flughafen Wien AG, the operator of the Vienna International Airport, presented impressive results for the first half of 2024. The company recorded significant growth in all key areas, including passenger numbers, revenue, and profit, thus continuing its successful growth course.
Flughafen Wien AG in Schwechat experienced a 10.1% year-on-year increase in passengers, revenue, and profit in the first half of 2024, with 18.7 million passengers. / Picture: © Wikimedia Commons / Stanislav Doronenko / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)
With 18.7 million passengers handled across the entire Flughafen Wien Group, an increase of 10.1% was achieved compared to the previous year. There was significant growth at the Vienna-Schwechat site in particular, which gives the company an optimistic outlook for 2024 as a whole.
Growth in numbers
The financial figures underpin this success: the Group's revenue rose by 14.1% to EUR 488.4 million, a sign of the company's positive development. Even more impressive is the increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which grew by 15.5% to 204.9 million euros. The operating result (EBIT) also grew strongly, rising 23.2% to 138.7 million euros. The profit for the period reached a record level of 108.4 million euros, which corresponds to an increase of 31.1%. These impressive figures are primarily due to a strong operating performance and positive financial results resulting from the company's successful debt reduction and high-interest income.
The upward trend also continued in July 2024. With 4.4 million passengers in the Group and 3.3 million passengers at the Vienna-Schwechat site, a new record was reached, exceeding the level before the COVID-19 pandemic. 26 July 2024 went down in the airport's history as the day with the most passengers, when 115,989 travelers were handled. These figures illustrate not only the return to strong travel volumes but also the growing importance of Vienna Airport as a major transport hub in Europe.
The positive development is also reflected in cargo handling, which rose by 17.3% to 141,118 tons at Vienna Airport Schwechat. Flughafen Wien AG's international investments also recorded strong growth: Malta Airport recorded an increase of 18.4% to 4.1 million passengers in the first half of 2024, while Kosice Airport also delivered positive results with a growth of 9.4% to 269,365 passengers.
The management of Flughafen Wien AG is optimistic for the remaining months of 2024. The Vienna-Schwechat site is expected to record more than 30 million passengers for the full year, while more than 39 million passengers are forecast for the entire Flughafen Wien Group. This would represent another milestone in the history of the company and further strengthen Vienna Airport's position as one of the leading European airports.
From a financial perspective, Flughafen Wien AG is forecasting revenue of more than one billion euros, EBITDA of more than 400 million euros, and a profit for the period of more than 220 million euros for the year 2024. These ambitious targets reflect the company's confidence in its market position and the strong demand for air travel. The current forecast is based on the assumption that there will be no further geopolitical tensions or massive traffic restrictions that could impact the business.
New projects on their way
In addition to its operating successes, Flughafen Wien AG is also pressing ahead with its investment projects. Construction work on the expansion of the South Terminal is in full swing. This expansion, which is scheduled for completion by 2027, will offer passengers around 70,000 square meters of additional lounge, catering, and shopping space, new lounges, and expanded security checks. This project is part of the company's long-term strategy to lead Vienna Airport into the top league of international airports.
In addition, the construction of a new hotel directly at the airport will begin in September to further improve the offer for travelers. An e-fast charging station for electric vehicles with a capacity of 350 KW will be put into operation at the airport at the end of August and can be used in favorable conditions. This station is partly powered by solar energy from the company's photovoltaic system, which underlines the sustainability strategy of Flughafen Wien AG.
Overall, Flughafen Wien AG is in a strong position to profit from the ongoing recovery of the aviation industry. With its ambitious expansion plans and continuous investments in infrastructure, the company is well-equipped to play a leading role in European air traffic in the coming years. The impressive results for the first half of 2024 lay the foundation for a promising future in which Vienna Airport will continue to expand its importance as an international transportation hub.