Austrian Airlines

euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial Statements
Continued Climb based on Expansion Offensive Expansion and Marketing Offensives Produce 15 % Traffic Growth EBIT Improved/Costs Reduced Further/Revenue Trend on Schedule R

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A courageous strategy of expanding services into Central and Eastern Europe (Focus East) and long-haul routes to Asia, combined with a range of efficient marketing offensives, produced a 15 % increase in passenger volume in the first half-year of 2004 and a rise in the passenger load factor on scheduled services to 71.2 %. Austrian made further cost reductions by cutting its unit costs once again, significantly increasing its result compared to the same period in 2003 and compensating in part for the reduction in yields on European medium-haul traffic.

Compared to last year, the adjusted EBIT was improved significantly, rising from EUR -52.5m to EUR -8.5m. The EBIT improved by EUR 4.4m to EUR -18.9m. Profit before tax was EUR -27.5m, after EUR -28.6m in the comparable period in 2003 (adjusted: EUR -18.3m, compared to EUR -60.0m the previous year).

Indicators for 1st half-year of 2004/2003 - a comparison

~
Result indicators                                  1-6 / 2004 1-6 / 2003  +/- %
Revenue                                      EURm        1,047.8        941.3        11.3
EBITDAR adjusted                        EURm          128.8         85.1        51.4
EBITDAR                                      EURm          105.9        183.4      -42.3
EBIT adjusted ²                         EURm            -8.5        -52.5        83.8
EBIT                                          EURm          -18.9        -23.3        18.9
Profit before tax adjusted ²    EURm          -18.3        -60.0        69.5
Profit before tax                      EURm          -27.5        -28.6         3.8
Cash flow from operating          EURm          146.1        149.0        -1.9
activities
Passengers carried                                4,417,130  3,846,193      14.8
Passenger load factor                  %              71.2         65.9         5.3P.
(scheduled services)
~

1 Adjusted for profits from the disposal of assets and for exchange rate valuations at the reporting date. 2 Adjusted for profits from the disposal of assets, other disposal costs of aircraft, exchange rate valuations at the reporting date and revaluations of aircraft.

end of announcement            euro adhoc 05.08.2004
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Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051766-1231

Investor Relations Karl Knezourek Tel.: 051766 - 3328

Branche: Air Transport
ISIN:      AT0000620158
WKN:        062015
Index:    ATX, ATX Prime, WBI
Börsen:  Wiener Börse AG / official dealing



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