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Erste Bank: The sun rises in the East... The dynamic expansion of Erste Bank into the countries of Central and Eastern Europe is a real success story. 1997 was a trend-setting year for Erste Bank. The company's initial public offering paved the way for its eastward expansion. An important step along the way was the acquisition of a majority stake in Ceska Sporitelna. Investing in the leading retail bank in the Czech Republic was considered too risky by most of Erste Bank's competitors and financial experts. However, with the benefit of hindsight, it was the correct strategic move. The bank returned to profitability sooner than expected, which formed the basis for the dynamic growth over the following years in Central and Eastern Europe. The logical consequence of the acquisition of Ceska Sporitelna was to enter the Slovakian market. Erste Bank acquired a controlling interest in Slovenska Sporitelna at the beginning of 2001, with its previous experience in the Czech Republic proving a valuable asset and resulting in the rapid integration of its new addition. The takeover of Hungarian Postabank followed in December 2003; it was swiftly merged with Erste Bank Hungary (acquired in 1997, previously Mezöbank). Erste Bank Croatia, formed in 2000 by the merger of three smaller banks was subsequently merged with Rijecka banka, acquired in the first quarter of 2002. The dynamic expansion of Erste Bank reached its preliminary peak in 2005. Solid foundations for the future were laid with acquisitions in Serbia and especially Romania. The Romanian market promises above-average growth rates over the coming years, and Erste Bank is well positioned to take advantage of this through its stake in Banca Comerciala Romana (BCR). As a result of its latest acquisitions, Erste Bank operates in markets that are at different stages of development. Emerging markets, as Romania and Serbia, should deliver growth over the next 5 to 20 years. The track record of Erste Bank is impressive. Strong growth in regional coverage as well as transaction volumes were accompanied by excellent operating results. Following the acquisitions in 2005, Erste Bank is now active in an economic region that is home to over 70 million people. Erste Bank has about 15 million customers in the region, and commands a market share of over 20%. All the key financial indicators have risen sharply since 1997 for Erste Bank. Total assets increased from 50 billion Euro to 153 billion Euro in 2005, a more than threefold increase. Operating results increased by an impressive factor or five, to 1.65 billion Euro. Return on equity (ROE) rose from 10% to 19% over the same period. As a result of its dynamic expansion into Central PROMOTION and Eastern Europe, Erste Bank employed about 36,000 staff at the end of 2005. Including BCR this number will leap to 48,000. In comparison, the bank only employed 9,356 staff at the end of 1997. Erste Bank now has a network of 2,700 branches as opposed to 461 eight years ago. Erste Bank der oesterreichischne Sparkassen AG Graben 21, A-1010 Wien, Tel: +43 (0)5 0100 50100, investor.relations@erstebank.at www.erstebank.com 64 LOCATIONAUSTRIA 02/2006
Rising Numbers at Vienna Airport Flughafen Wien AG is one of the few listed airport operators in Europe. 40 percent of the company's capital stock is held by the public sector, with stakes owned in equal parts by the Province of Lower <strong>Austria</strong> and the City of Vienna. Following a decision at the annual general meeting in 2000, 10 percent of company stock was transferred to a employee foundation, with employees consequently participating in the company's success. The remaining 50 percent of shares are free float. Fulghafen Wien AG is the developer, constructor and sole operator of Vienna International Airport, as well as a provider of all associated services. As one of the leading hubs to the prospering destinations in Central and Eastern Europe, we are prepared for above average growth in the near future. Our expansion strategy is also driven by increasing demand for flights to and from destinations in the Far and Middle East, as well as by the thriving low cost carrier sector. OVERVIEW OF THE 2005 FISCAL YEAR Flughafen Wien AG again posted good results in 2005, resulting in a further increase on the good results achieved in 2004. Revenue over the fiscal year totaled 410.3 million Euro (+3.0 percent). Annual profit rose 3.6 percent to 64.3 million Euro. Increasing traffic was the driving factor behind these developments. Passenger numbers increased by 7.3 percent to 15.9 million passengers. Low cost carriers are becoming an increasingly important force; the proportion of passengers carried by low cost carriers rose by 11.1 percent in 2005 to 12.4 percent. Traffic to Eastern Europe developed positively (+9.9 percent), as did traffic to the Far East (+12.9 percent), the Near and Middle East (+34.0 percent). The number of transfers also rose. Vienna International Airport's important role as a hub was thus strengthened even further. Increasing the number of purely cargo flights also resulted in corresponding increases in the turnover of goods; 234,677 tonnes of freight mean an increase of 12 percent. 2006 Forecast The management of Flughafen Wien AG forecast that positive economic developments in <strong>Austria</strong> and the EU will also have a positive impact on VIENNA INTERNATIONAL AIRPORT - FIGURES Vienna International Airport Skeleton construction work on the Skylink terminal will be complete in just a few months. The subterranean train station for long-distance trains has already been nearly tiled completely. An increase in passenger numbers of 7.3 percent is only part of the story. The good business results achieved by Flughafen Wien AG in 2005 mean a further increase over the previous years. traffic at the airport. Additional stimulation is also expected from the continuing boom in the new EU member states situated within the airport's catchment area. Passenger numbers are predicted to rise by around 6 percent, flight numbers by 2 percent, and maximum take-off weight by 3 percent, provided the current economic stability continues. Thanks to a multi-tiered and flexible expansion strategy, long-term expansion projects can be implemented independent of the development of passenger numbers. Between 2006 and 2010, investments in airport and other non-aviation projects of 533 million Euro are planned, 208 million of which are earmarked for the timely continuation of expansion works in 2006. The main investment focus for 2006 is on the VIE-Skylink project, with a total volume of investment of 121 million, on the baggage sorting equipment with 11 million Euro, on phase 2 of the Office Park with 21 million Euro and on the apron with 26 million Euro. Population in catchment area approx. 14 mio. Total Area (in km 2) approx. 10 Companies m Standort rund 200 Airlines 1) 69 carriers Destinations 1) 176 carriers Staff Flughafen Wien group 3,581 Staff airport approx. 14,000 Passengers 15,859,050 Pieces of Baggage Handling 14,168,786 1) as of 31.12.2005 Cargo (incl trucking) 234,677 t Check-in counters 124 Parking positions maximum 80 of which docking positions 20 Rentable cargo space (in m 2) 30,206 Rentable office space (in m 2) 70,688 Retail space (in m 2) 5,977 Space for gastronomy (in m 2) 3,451 Indoor parking spaces excl. long-term 4,800 Outdoor parking spaces excl. long-term 4,200 Long-term parking spaces approx. 6,000 Further information: ● www.viennaairport.com under "Information for Shareholders" ● Online financial report: http://vie2005de.genesto.com/ ● Subscribe to our financial reports and newsletter - send an e-mail to investor-relations@viennaairport.com 02/2006 LOCATIONAUSTRIA 65
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The Magazine for Business Location
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LOCATION STYRIA 04 Innovative locat
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excellent research infrastructure a
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JOANNEUM RESEARCH is a key player i
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Succeed through Quality Green Austr
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PROMOTION The water-artist city Gm
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