EANS-Adhoc: Flughafen Wien AG Insider (Ad-Hoc) Information of Flughafen Wien
AG: Financial Market Authority Ruling on the Consolidation of Stake Held by
Flughafen Wien AG in Malta International Airport and MMLC
--------------------------------------------------------------------------------
Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is solely responsible for the content of this announcement.
--------------------------------------------------------------------------------
Financial Figures/Balance Sheet/Accounting and Audits/FMA Ruling
30.12.2016
Due to the ruling made by the Financial Market Authority (FMA), against which
Flughafen Wien AG (FWAG) is considering legal action, the stake held by FWAG in
Malta International Airport and Malta Mediterranean Link Consortium Limited
(MMLC) should have already been fully consolidated at an earlier point in time,
namely back in 2006. In contrast, this shareholding was consolidated at equity
in the consolidated financial statements of FWAG up until March 30, 2016.
According to the FMA, this means, amongst other consequences, that the
preliminary upward revaluation totalling EUR 51.8 million regarding the shares
already held before the additional acquisition of shares from SNC-Lavalin Group
Inc. as at the first quarter of 2016 should not have been recognised in profit
or loss in the quarterly results of 2016. The FMA contends that the acquisition
of additional shares in MMLC as at March 30, 2016 comprises a transaction with
non-controlling shareholders which is to be recognised directly in equity and
not in profit or loss. For the time being, the current assessment of any
additional effects of the transaction could result in a slight improvement of
revenue reported by FWAG in 2016 as well as the net profit for the period
adjusted for the revaluation effect. On the basis of the adjustment, a revenue
increase and improvement of the Group results (before non-controlling interests)
is also to be assumed for 2015. The detailed effects on previous consolidated
financial statements and the consolidated financial statements for 2016 of FWAG
will be evident once the consolidated financial statements of FWAG for the 2016
financial year are presented.
Further inquiry note:
Flughafen Wien AG
Investor Relations
+43 1 7007-22826
investor-relations@viennaairport.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Flughafen Wien AG
Postfach 1
A-1300 Wien-Flughafen
phone: +43 1 7007 - 22826
FAX: +43 1 7007 - 23806
mail: investor-relations@viennaairport.com
WWW: http://viennaairport.com/unternehmen/investor_relations
sector: Transport
ISIN: AT00000VIE62
indexes: ATX Prime
stockmarkets: official market: Wien
language: English