Vienna airport first half net profits rise 14.3%

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Vienna International airport operator Flughafen Wien has recorded a 14.3% year-over-year increase in first half net profits to €49.5 million ($61.5 million).

Revenues for the six months to 30 June rose by 4.7% to €294 million, while earnings before interest and taxes (EBIT) grew 4% to €68.7 million.

Passenger numbers during the period rose 7.9% to 10.4 million, while passenger load factors grew by 3.5 percentage points to 69.7%.

Cargo turnover declined 8% to 131,000t, while flight movements decreased 0.3% to 120,000.

Looking ahead, Günther Ofner, chief financial officer at Flughafen Wien, says: "It is, however, clear that results for the second six months will be negatively influenced by the start of operations in Check-in 3 through increased depreciation and amortisation, higher interest expense and additional operating expenses.

"In spite of this, our estimates for an increase in revenue and EBITDA in 2012 are still well protected. We have therefore raised our estimate for net profit from €55 million to at least €60 million."