Flughafen Wien AG Shows Resilient Q3 Performance Amid Challenges

Flughafen Wien AG, evaluated by NuWays AG, reported solid Q3 results matching expectations. A 2.9% year-on-year increase in group passenger numbers, boosted by higher airport charges, led to a 5.6% rise in Q3 sales, totaling €321 million. The Airport segment showed robust growth, increasing by 7.5% to €159 million.

EBITDA remained strong at €166 million, slightly exceeding forecasts, despite wage inflation driving personnel costs up by 11%. The firm's net income was aligned with this growth at €90.9 million.

The company confirmed its FY'25 guidance, projecting sales of approximately €1.08 billion and EBITDA around €440 million. Looking ahead to 2026, reductions from low-cost carriers and resumed airport charge tariffs may impact performance, prompting cost-saving initiatives.

October traffic data indicated a positive trend. However, shares are deemed adequately priced, sustaining a HOLD rating with a target price of €58.00.