SkyEurope Holding

euro adhoc: SkyEurope Holding
Financial Figures/Balance Sheet
SkyEurope meets analyst expectations in FY2005

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 30.11.2005 • Revenues up 114% • Encouraging result in Q4 - a positive EBIT* • Further growth towards the critical mass • Up to 32 new B737-700 Next Generation aircraft ordered SkyEurope Holding AG is publishing its preliminary FY2005 (12 months ended 30 September 2005) consolidated results at investor meetings in London today. Revenue increased by 114% to EUR 112.7m from EUR 52.6m in the prior 12 months, mainly due to the increase of the number of passengers carried to 1.7 million from 0.7 million in the 12 months period before (+132%). The average number of aircraft in fleet rose to thirteen from nine. Implementation of the company’s ambitious growth program resulted in an adjusted consolidated net loss of EUR 26.8m (adjusted for exceptional one-time effects of EUR 1.8m after taxes arising from phase-out of the Embraer fleet), on track with the analyst expectations at the time of public listing. The company raised EUR 60m of new equity in its Initial Public Offering in September 2005, strengthening its balance sheet and creating the financial platform for the order of 16 new Boeing 737-700 Next Generation aircraft with the purchase rights for additional 16 aircraft of the same type. "The expansion of our fleet will enable us to accelerate our growth while at the same time improve our efficiency and drive our unit cost further down," says Christian Mandl, the CEO and one of the company’s founders. Most of the financial year’s losses accumulated already in the course of the first three quarters and the management is encouraged by the positive development in the fourth quarter. After adding a significant seat capacity to the fleet in June, the company reached consolidated EBIT and net income (adjusted for one-time effects) of EUR 1.8m and EUR 0.7m, respectively, in the fourth quarter (i.e. in the seasonally strong months of July, August, and September), in spite of the strongly adverse fuel price developments in that period. Straight at the beginning of the reporting period a new base was opened in Krakow. 18 new routes were added to the network in the course of the FY2005. As from December 2005, SkyEurope will start flying also to Bulgaria and Romania in line with its strategy to enter and develop new Eastern European markets. Due to the seasonal effects, results in the first half of FY2006 are expected to remain behind those of the fourth quarter of the FY2005. In the FY2006, SkyEurope is going to continue to implement its strategy of a robust growth by adding approximately 50% to its seat capacity. However, about 80% of the capacity increase will be conservatively allocated to strengthening the company’s position on its existing markets and routes, while just 20% is planned to be devoted to new markets. The company has already implemented the necessary infrastructure, thus ensuring that a critical mass required for profitability may be achieved in FY2006. FY2007 is expected to be the first year of consistent profitability, assuming the current market environment conditions. This release contains unaudited financial information. SkyEurope Holding AG will publish its audited FY2005 financial statements on 9 January 2006. Financial highlights EUR m FY2005 FY2004 +/- % Q 4/FY2005 Revenue 112.7 52.6 114% 48.6 EBITDAR (10.8) (3.0) 257% 8.6 EBIT (33.5) (13.5) 149% (0.4) Adjusted EBIT* (31.4) (13.5) 133% 1.8 Consolidated net income/loss (28.6) (10.1) 184% (1.1) Adjusted consolidated net income/loss* (26.8) (10.1) 166% 0.7 *) Adjusted for one-time effects related to the phase-out of Embraer aircraft SkyEurope Holding AG, the Vienna based holding company of SkyEurope Airlines a.s. ("SkyEurope"), is listed on the Vienna and Warsaw stock exchanges since 27 September 2005. SkyEurope was founded on 6 September 2001 by Christian Mandl and Alain Skowronek. With bases in Bratislava, Budapest, Krakow and Warsaw, SkyEurope is the largest low cost low fare airline in Central & Eastern Europe. SkyEurope offers a network of 64 routes to 38 destinations in 19 European countries, and operates a fleet of 15 aircraft. In 2005 SkyEurope announced an order of up to 32 Boeing Next-Generation 737-700 aircraft. In the 12 months ended 30 October 2005, SkyEurope carried close to 1.8 million passengers. end of announcement euro adhoc 30.11.2005 08:34:14 -------------------------------------------------------------------------------- ots Originaltext: SkyEurope Holding Im Internet recherchierbar: Further inquiry note: SkyEurope Holding AG Mag. Erhard Schmidt, CFO Tel.:+421 2 4850 1180 Branche: Air Transport ISIN: AT0000497003 WKN: A0F5WU Index: WBI Börsen: Wiener Börse AG / official market

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