Annual Report 2001 - Flughafen Wien

___We have also recognised the increasing strategic importance of our non-aviation segment.
In 2001 we spent a total of € 10.4 million on the development of new rental space, and further
investments will follow in the coming years. By 2004 we intend to build an office park with
total space of 26,000 sq.m. and a total investment value of € 45 million. We have made the
planned € 210 million expansion of the Skylink Terminal more flexible up to 2006 in order to
better reflect the development of traffic.
___Recently, the Austrian Federal Railways acquired a 49.9% holding in our City Air Terminal
(CAT GmbH). Starting on 14 December 2003 CAT will operate an airport express, which will
connect passengers with the “Wien-Mitte” transit centre in approximately 15 minutes. As
announced last year, this is not only an excellent connection for our passengers but also an
additional source of income for our Company.
___After the successful participation of our employees through a private foundation in 2000,
we also continued work in the past year to make our compensation system more modern and
flexible. New models will lead to a reduction in personnel expenses over the long-term and
include the introduction of part-time jobs for older employees, settlement payments for pensions
and future restructuring of the workforce. The cost has already been reflected in an
appropriate provision.
___From the present point of view, we must assume that traffic will decline during the 2002
Business Year. We forecast a decline of 4% in the number of passengers, 3% in flight movements,
and 5% in maximum take-off weight (MTOW). Beginning in the third quarter of 2002,
we do however, expect an increase in the number of passengers. Long-term growth forecasts
for the aviation industry remain intact and predict growth rates of 5 to 6% per year.
___With a dividend yield of 6.3% (price at year-end), we are one of the top income stocks in
the ATX. In keeping with our corporate governance philosophy, we consider it our responsibility
to earn distributable profits on a lasting basis. For shareholders, our goal is a pay-outratio
equal to 60% of annual net profit.
___We would like to express our thanks to our business partners for the trust they have placed
in us and to all our employees, managers, and members of the Works’ Council for their dedication
and efforts both in the past and the future.
Yours sincerely,
The Management Board
Herbert Kaufmann
Member of the Board
and Speaker
22 Statement
Gerhard Schmid
Member of the Board
Kurt Waniek
Member of the Board
Annual Report 2001