Austrian Airlines

euro adhoc: Austrian Airlines AG
Financial Figures/Balance Sheet
Kerosene price level and weak demand in first quarter produce slump in result despite record traffic result and focus east growth

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 28.02.2006 Financial Result of the Austrian Airlines Group for Financial Year 2005 Summing up the annual balance sheet, Austrian Chief Executive Officer Vagn Soerensen made the following statement: ‘By incorporating new destinations into the route network and increasing our existing frequency volume, we have again been able to build strongly on our ‘Focus East’ specialisation in 2005. The main reasons for the slump in the result in 2005 were the high additional cost of kerosene, the weak demand for transfer traffic in the first quarter triggered by the doubling in the security charge, and continuing overcapacity in the European aviation industry. Due to our offensive marketing and sales measures and the huge effort made by employees throughout the Austrian Airlines Group, however, we maintained record load factors from May 2005 onwards, which produced a record traffic result of more than 10.1 million passengers carried for the year as a whole. The ‘Turnaround in the Turnaround Programme’, which was introduced in 2005 and includes numerous individual measures designed to improve our cost and revenue position, should produce a positive effect on the result amounting to around EUR 100m from 2007. We expect to be able to balance our result (EBIT adjusted) for 2006. Although this will undoubtedly be a challenge, it remains entirely feasible if we continue to dedicate all our energies to achieving this objective.’ Summary of Annual Result 2005 Important note: due to a change made in accordance with IAS 16, the application of which was made compulsory in balance sheet reporting in 2005, the financial indicators for 2004 have had to be adjusted retrospectively. The new regulation requires that a component approach now be used in the evaluation and depreciation of aircraft, and that essential aircraft overhauls be capitalised. Until now, aircraft have been capitalised as a uniform asset and depreciated, with provision being made for essential overhauls in the balance sheet through the creation of provisions until the time of the next maintenance. Key figures 2005 2004 1 +/- +/- % adjusted Revenue EURm 2,392.9 2,224.7 168.2 7.6 Operating revenue2 EURm 2,485.8 2,357.9 127.9 5.4 Operating expenses EURm -2,585.8 -2,283.5 -302.3 -13.2 EBITDAR EURm 303.5 404.1 -100.6 -24.9 EBITDAR adjusted 3 EURm 319.4 386.7 -67.3 -17.4 EBIT 4 EURm -100.0 74.4 -174.4 - EBIT adjusted 4 5 EURm -52.0 9.3 -61.3 - Financial result EURm -29.6 -26.0 -3.6 -13.8 Profit/loss before tax EURm -129.6 48.4 -178.0 - Profit/loss before tax adjusted 5 EURm -94.9 -22.1 -72.8 - Profit/loss from business divisions carried forward EURm -131.3 43.9 -175.2 - Profit/loss from business divisions carried forward adjusted 6 EURm -96.6 -26.6 -70.0 - Net profit/loss for the year EURm -129.1 43.9 -173.0 - Net cash flows from operating activities EURm 259.8 210.4 49.4 23.5 Net gearing % 186.2 181.3 - - Equity ratio % 17.7 20.8 - - Total passengers carried Passengers 10,119,773 9,404,947 714,826 7.6 Passenger load factor (scheduled services) % 73.8 72.1 1.7 P - Air freight Tons 160,992 149,694 11,298 7.5 Footnotes - Legend of Table: 1 The adjustments made to the annual figures for 2004 are shown in detail on pp. 68-69 of the Annual Report. The figures for 2004 have also been adjusted to account for the new system of classification used in the report period. 2 Operating revenue: the sum of revenue, changes in inventories, profit/loss from disposal of assets and other revenue. 3 Adjusted to account for profit/loss on the disposal of assets, other costs of the transfer of aircraft and foreign currency valuations at the reporting date. 4 Before incorporation of associated companies. 5 Adjusted to account for profit/loss on the disposal of assets, other costs of the transfer of aircraft, foreign currency valuations at the reporting date and recovery/impairment of the value of aircraft. 6 Adjusted to account for profit/loss on the disposal of assets, other costs of the transfer of aircraft, foreign currency valuations at the reporting date, recovery/impairment of the value of aircraft and the effect of changes in the rate of corporation tax in 2004. end of announcement euro adhoc 28.02.2006 07:28:50 -------------------------------------------------------------------------------- ots Originaltext: Austrian Airlines AG Im Internet recherchierbar: 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: 875224 Index: WBI, ATX Prime, ATX Börsen: Wiener Börse AG / official dealing

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