Austrian Airlines

euro adhoc: Austrian Airlines AG
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Progress in turnaround despite tough background conditions

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- 28.02.2005 Specialisation offensive produces 10.9 % traffic growth/ EBIT improved/ Unit costs and net gearing reduced/Productivity and equity ratio increased Result of the Austrian Airlines Group for the financial year 2004 A dedicated strategy of specialisation in services to Central and Eastern Europe (the ‘Focus East’ programme) and to the Asia/Pacific region, coupled with the respective global marketing offensives, produced an increase in passenger volume of 10.9 % in 2004 and a rise in the passenger load factor on scheduled services to 72.2 %. By consistently focusing attention on cost savings measures including a further reduction in unit costs of 6.6 %, the company succeeded in achieving an adjusted EBIT in line with its - due to the enormous increase in kerosene prices and the overcapacity that dogged the European aviation sector in the final quarter of last year - revised forecast of November 2004. Compared to the previous year, the adjusted EBIT increased slightly, from EUR 4.2m to EUR 10.5m. The EBIT improved by EUR 16.1m to reach EUR 79.4m. Profit before tax totalled EUR 53.4m, up from EUR 25.7m the previous year (adjusted figure EUR - 20.8m, following EUR -22.4m the preceding year). ~ Key Figures Unit 2004 2003 + / - +/- % Operating revenue EURm 2,363.5 2,242.7 120.8 5.4 Operating expenses EURm -2,284.1 -2,179.4 -104.7 -4.8 Revenue EURm 2,224.7 2,040.1 184.6 9.0 EBITDAR EURm 319.6 420.8 -101.2 -24.1 EBITDAR adjusted 1 EURm 298.4 298.0 0.4 0.1 EBIT EURm 79.4 63.3 16.1 25.4 EBIT adjusted 2 EURm 10.5 4.2 6.3 - Profit before tax EURm 53.4 25.7 27.7 - Profit before tax adjusted 2 EURm -20.8 -22.4 1.6 - Profit after tax EURm 40.9 46.0 -5.1 -11.1 Profit after tax adjusted 3 EURm -32.4 -2.1 -30.3 - Cash flows from operating activities EURm 148.2 345.2 -197.0 -57.1 Net profit for the year EURm 40.2 45.8 -5.6 -12.2 Financial result EURm -26.0 -37.6 11.6 30.9 Interest-bearing liabilities EURm 1,816.7 1,936.0 -119.3 -6.2 Net gearing % 197.3 217.0 - - Equity ratio % 18.2 17.0 - - Passengers carried (scheduled and charter services) Passengers 9,404,947 8,479,417 925,530 10.9 Passenger load factor (scheduled) % 72.2 71.3 - 0.9 P Cargo Tons 144,883 125,291 19,592 15.6 ~ 1 Adjusted to account for profit/loss on the disposal of assets, other transfer costs of aircraft and foreign currency valuations at the reporting date. 2 Adjusted to account for profit/loss on the disposal of assets, other transfer costs of aircraft and foreign currency valuations at the reporting date and revaluation of aircraft. 3 Adjusted to account for profit/loss on the disposal of assets, other transfer costs of aircraft, foreign currency valuations at the reporting date, revaluation of aircraft and the effect of changes in corporation tax. end of announcement euro adhoc 28.02.2005 07:24:44 --------------------------------------------------------------------- Further inquiry note: Konzernkommunikation: Johannes Davoras Johann Jurceka Tel.: 051766-1231 Investor Relations Dr. Prisca Havranek-Kosicek Tel.: 051766 - 3642 Branche: Air Transport ISIN: AT0000620158 WKN: 062015 Index: WBI, ATX Prime, ATX Börsen: Wiener Börse AG / official dealing

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