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Austrian Airlines

euro adhoc: Austrian Airlines AG
Quarterly or Semiannual Financial Statements
Austrian Airlines Group continues to accelerate away from competition (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Recent traffic and service offensives produce growth in traffic of
over 10 %, high load factor and income trends and EBIT in line with
forecasts
Results of the Austrian Airlines Group for 1st Quarter of 2004
By pressing on with its mix of broad-based traffic offensives,
innovative marketing campaigns and unswerving cost management, the
Austrian Airlines Group today published results for the first quarter
of 2004 that are the envy of the aviation industry. The company
produced a striking improvement in passenger volume of 10.8 %, a huge
rise in revenue passenger kilometers of 19 % and a clear increase in
load factor on scheduled services to 70.6 % to improve its overall
result for the first three months of the year in line with earlier
forecasts.
Compared to the first quarter of the previous year, the company
succeeded in improving its adjusted EBIT by EUR 23.1m to EUR -27.8m
(the EBIT rose by EUR 6.9m to EUR -40.8m). The adjusted profit before
tax was EUR -34.9m, compared to EUR -58.3m for the comparison period
the previous year  (profit before tax was up from -53.3m in 2003 to
EUR -47.6m this year).
In his analysis of the results, the Group’s Chief Executive Officer,
Vagn Soerensen, noted: "We continue to implement our strategy of
compensating for declining yields by increasing load factors and
driving costs down further. According to the trend emerging in our
traffic and results, we are well on course to achieve this objective.
With the necessary structural optimisations of the past twelve months
now behind us, we are now free to devote our full attention to the
current expansionary offensive - the Focus East programme - which has
been designed to extend our market leadership in services from and to
Central and Eastern Europe, and to build up our network in the
Asia/Pacific region. Motivation is high throughout the company, and
our offensive is already beginning to bring real results. The
Austrian Airlines Group is now firing on all cylinders, and beginning
to pull away from the competition!"
Comparison of Quarter 1 financial indicators, 2004/2003
~
EURm                                    2004      2003    +/-  %
Revenue                                471.0     448.0    + 5.1
EBITDAR                                 16.3      63.0    -74.1
EBITDAR adjusted 1                      42.4      17.7      -
EBIT                                   -40.8     -47.7    +14.5
EBIT adjusted 2                        -27.8     -50.9    +45.4
Profit before tax                      -47.6     -53.3    +10.7
Profit before tax adjusted 2           -34.9     -58.3    +40.1
Cash flows from operating activities    61.0      46.7      -
Passengers carried (scheduled and    1,931,838 1,742,845  +10.8
charter services)
Passenger load factor (scheduled        70.6      64.7    + 5.9 P.
services) in %
~
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, exchange rate
valuations at the reporting date and revaluations of aircraft.
end of announcement        euro adhoc 06.05.2004

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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