euro adhoc: Austrian Airlines AG
quarterly or semiannual financial statement /
Significant improvement in Result in first Half-year
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
24.07.2007
Restructuring measures in implementation, Airbus A330 fleet valuation complete, Focus East strategy continuing according to plan
Financial Result of the Austrian Airlines Group for 1st Half-year 2007
The Chief Executive Officer of the Austrian Airlines Group, Alfred Ötsch, made the following statement today to mark the release of the Group's half-year results: 'The operating result (EBIT) improved significantly in the first half-
year compared to the same period in 2006, rising from EUR -41.0m to EUR -2.9m, a positive upward trend. We have decided upon and implemented a number of important new directions. These include cancelling unprofitable long-haul
destinations, putting in place the associated staffing measures and completing the valuation of our Airbus A330 fleet. Both our quality offensive and Focus East strategy have been consistently expanded. The significant improvements in our EBIT in the first half-year and second quarter show that we are on the right course. Despite this, the financial year 2007 should be seen as a
transitional year, when the positive effects of the cancellation of unprofitable destinations have still to fully impact the operating result and it has not yet been possible to reduce the total remaining costs. We are progressing according to plan, and striving to generate a profit that will justify our paying a dividend by 2009.´
Overview of Financial Result for 1st Half-year of 2007
|Key figures | |1-6 / 2007 |+/- % |4-6 / 2007 |+/- % |Revenue |EURm |1,204.1 |-1.5 |642.6 |-4.9 |EBITDAR1 |EURm |172.4 |24.3 |104.5 |10.8 |EBITDAR1 adjusted2 |EURm |164.6 |29.7 |104.9 |18.9 |Result from operating activities (EBIT) |EURm |-2.9 |- |16.1 |76.9 |Result from operating activities (EBIT) adjusted2 |EURm |-10.7 |77.6 |16.5 |- |Net result for the period |EURm |-8.6 |85.9 |7.7 |- |Cash flow from operating activities |EURm |191.5 |-1.8 |122.5 |-16.3 |Net Gearing |% |130.2 |- |130.2 |- |Earnings per share |EUR |-0.09 |95.1 |0.09 |- |CVA |EURm |-70.1 |33.7 |-12.1 |55.0 |Passengers carried (total) | |5,083,936 |1.9 |2,837,952 |-1.1 |Passenger load factor (scheduled service) |% |74.1 |1.9 P. |74.1 |2.2 P. |Employees (end of period) | |8,027 |-7.6 |- |-
1 Result from operating activities (EBIT) before associates, before depreciation and rentals 2 Adjusted by the result from the disposal of assets, other costs of the transfer of aircraft, foreign currency valuations at the reporting date and impairment of the value of aircraft
end of announcement euro adhoc 24.07.2007 07:29:08
Further inquiry note:
Konzernkommunikation:
Livia Dandrea-Böhm
Tel.: 051766-1231
Investor Relations
Dr. Prisca Havranek-Kosicek
Tel.: 051766 - 3311
Branche: Air Transport
ISIN: AT0000620158
WKN: 875224
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official market