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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

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  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

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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