Flughafen Wien (FLU) Q1 2026 earnings summary

Executive summary

• Revenue increased by 6.1% year-over-year to €239.6 million, with EBITDA up 8.2% to €87.9 million and group net profit up 5.3% to €42.0 million, driven by robust passenger growth and non-aviation performance, especially in Malta and Košice.

• Efficiency improvements and cost-saving measures, including a new collective agreement with a 2.4% salary rise, contributed to a 0.7pp increase in EBITDA margin to 36.7%.

• Major investments are underway, such as Terminal 3 Southern Expansion and Office Park 4, with €85.8 million in Q1 CapEx and €1.5 billion planned by 2030.

• Guidance for 2026 remains unchanged for both passenger numbers and financials, despite uncertainties from geopolitical tensions and fuel prices.

• April saw a notable decline in Vienna Airport passenger numbers due to geopolitical tensions and low-cost carrier reductions.

Financial highlights

• Revenue: €239.6 million (+6.1% YoY); EBITDA: €87.9 million (+8.2% YoY); EBIT: €54.4 million (+11.6% YoY).

• Group net profit: €42.0 million (+5.3% YoY); net profit attributable to parent: €37.2 million (+4.3% YoY).

• EBITDA margin: 36.7% (+0.7pp YoY); EBIT margin: 22.7% (+1.1pp YoY).

• CapEx reached €85.8 million in Q1 (+28.7% YoY), mainly for terminal expansion and office park projects.

• Net liquidity at €407.1 million; equity ratio at 72.5%.

Outlook and guidance

• 2026 guidance: Revenue ~€1,050 million, EBITDA ~€415 million, group net profit after minorities ~€185 million, CAPEX ~€330 million.

• Passenger forecast for 2026: Vienna Airport ~30 million, Group ~41.5 million.

• Guidance assumes no further geopolitical disruptions or major traffic restrictions.

• Ongoing dynamic growth expected in Malta and Košice; Vienna faces uncertainty due to reduced low-cost carrier capacity and geopolitical risks.