Austrian Airlines

euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial Statements / Reduction in result due to difficult operating environment Half-year result of the Austrian Airlines Group (January to June 2005)

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25.07.2005

The first half-year of 2005 was marked by very high fuel prices (peaks of over US$ 600/ton), overcapacity in the market and a weak load factor, especially in the first quarter. Despite increases in passenger volume and stabilisation in the load factor, which the company was even able to raise above last year’s figure at the end of the second quarter, these factors combined to produce a clear reduction in the result overall.

Compared to the same period last year, the adjusted EBIT fell from EUR -8.5m to EUR -63.5m. The EBIT, meanwhile, slid from EUR -18.9m to EUR -93.3m. Result before tax was EUR -106.6m, against EUR -27.5m the previous year (adjusted: down from EUR -18.3m last year to EUR - 83.3m in 2005).

Vagn Soerensen, Chief Executive Officer of Austrian Airlines, commented as follows on the half-year result for 2005: ‘At the beginning of the year, we slowed down our planned growth and adjusted flight capacity where necessary. At the same time, we launched an extensive sales offensive and increased the competitiveness of our Vienna hub by supporting transfer charges.  As a result, we succeeded in increasing passenger figures and stabilising our load factor in the second quarter, although it was not possible to compensate the negative environmental factors with such measures. The winter period, when demand tends to be lower due to seasonal factors in any case, is expected to produce a highly volatile demand trend, which we will proactively counter through targeted capacity adjustments and tight cost management. Due to the challenging operating environment - fuel prices and overcapacity in particular - we expect to see a negative adjusted EBIT for 2005 as a whole.’

Financial Result, 1st Half-Year 2005

@@start.t2@@Key Figures                              Unit            1-6/2005         1-6/2004        +/- %
Revenue                                    EURm              1,077.5          1,047.8         2.8
Operating revenue                    EURm              1,082.0          1,067.9         1.3
Operating expenses                  EURm            -1,175.3         -1,086.8        -8.1
EBITDAR                                    EURm                  47.7              105.9      -55.0
EBITDAR adjusted 1                  EURm                  77.6              134.5      -42.3
EBIT                                         EURm                 -93.3              -18.9            -
EBIT adjusted 2                        EURm                 -63.5                -8.5            -
Financial result                      EURm                 -13.3                -8.6      -54.7
Result before tax                    EURm                -106.6              -27.5            -
Result before tax
adjusted 2                                EURm                 -83.3              -18.3            -
Result after tax                      EURm                 -79.9              -40.5            -
Result after tax
adjusted 2                                EURm                 -56.6              -31.3            -
Cash flows from operating
activities                                EURm                 146.0              146.1        -0.1
Net loss for the
reporting period                      EURm                 -79.1              -41.0            -
Passengers carried
scheduled and charter
services)                                                  4,499,094        4,418,915         1.8
Passenger load factor
(scheduled services)                    %                  69.8                71.1        -1.3 P.
Cargo                                        Tons                72,509            70,332         3.1@@end@@

1 Adjusted for profits/losses from the disposal of assets, other disposal costs of aircraft ( 2005: EUR 0.0m, 2004: EUR 5.7m)  and for exchange rate valuations at the reporting date.  2 Adjusted for profits/losses from the disposal of assets, other disposal costs of aircraft, exchange rate valuations at the reporting date and revaluations of aircraft.

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ots Originaltext: Austrian Airlines AG
Im Internet recherchierbar: http://www.presseportal.de

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
Börsen:    Wiener Börse AG



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