euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial
Statements
Fundamental Restructuring of Austrian Airlines Group to
be continued (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Result Trend and Balance Sheet for 3rd Quarter (1-9/2003 incl.)
During the first nine months of 2003, a period characterised by numerous geopolitical crises and a lasting intensification in competitive pressure, the Austrian Airlines Group used effective management to achieve a result from operating activities (EBIT) of EUR minus 7.5m. The profit before tax was EUR -19.0m, compared to EUR 35.6m in the third quarter of last year. For the full year, the result from operating activities (EBIT) is forecast to break even. Due in particular to the effects of the crises in the early months of the year, the passenger volume of the Austrian Airlines Group for January-September 2003 fell by 5.9 % to 6,441,304 passengers carried.
Vagn Soerensen, Chief Executive Officer of the Austrian Airlines Group, made the following statement concerning the result for the Third Quarter 2003: "Having been able to implement massive countermeasures to meet and partially absorb the negative effects of the first half-year, we returned to our offensive course in the early summer. Based on the redesigned market presence, an extensive product and offer offensive has been launched, which will be followed by a geographical offensive in Central and Eastern Europe. The fundamental restructuring of the Austrian Airlines Group has to be continued if we are to look confidently forward to a successful future. If Austria wishes to continue to have an independent airline with a traffic system designed to suit the needs of the Austrian domestic market, then we must not flinch from making decisions over complex issues in the course of that restructuring!"
Third Quarter Result: an Overview
~
1-9/2003 1-9/2002 +/- %
Revenue EURm 1,505.1 1,673.5 -10.1
EBITDAR adjusted 1 EURm 186.9 290.3 -35.6
EBITDAR EURm 271.9 377.6 -28.0
EBIT adjusted 2 EURm -23.4 47.3 -
EBIT EURm -7.5 61.8 -
Profit before tax adjusted 2 EURm -37.4 13.2 -
Profit before tax EURm -19.0 35.6 -
Cash flows from operating activities EURm 211.4 428.2 -50.6
Passengers carried 6,441,304 6,843,740 -5.9
Passenger load factor
(scheduled services) % 70.4 71.5 -1.1P.
~1 Adjusted for profits from the disposal of assets and for exchange rate valuations at the reporting date 2 Adjusted for profits from the disposal of assets, exchange rate valuations at the reporting date and revaluation of aircraft
end of announcement euro adhoc 06.11.2003
Further inquiry note:
Konzernkommunikation:
Johannes Davoras
Johann Jurceka
Tel.: 051755-1231
Investor Relations
Karl Knezourek
Tel.: 051766 - 3328
Branche: Air Transport
ISIN: AT0000620158
WKN: 062015
Index: ATX, ATX Prime, WBI
Börsen: Wiener Börse AG / official dealing