Flughafen Wien AG 2025: Good business development and revenue increase of 7.2% - Net earnings of € 210.1 million impacted by derecognition of assets – Dividend of € 1.65 at the prior-year level

Flughafen Wien AG Business Results for 2025: Good business development and revenue increase of 7.2% - Net earnings of € 210.1 million (2024: € 239.5 million) impacted by derecognition of assets related to the 3^rd runway project – Nevertheless, dividend proposal of € 1.65/share at the prior-year level

 

• Financial performance indicators for 2025: Revenue up 7.2% to € 1,128.9 million; one-off effect from the derecognition of assets relating to the 3^rd runway project equalling € 55.9 million led to a reduced EBITDA of € 412.4 million (-6.8%) and EBIT of € 279.5 million (-8.7%)
  – Good business development cut the negative impact of the derecognition in half

 

• Attractive dividend proposal of € 1.65/share at the prior-year level

 

• Airport expansion in Vienna and Malta is moving ahead – Record investments of about € 330 million planned for 2026

 

• Financial outlook for 2026: Stable net earnings of € 210 million despite the fee reductions and the expected slight decline in passenger traffic

 

• Passenger outlook 2026: Approx. 41.5 million passengers expected in the Flughafen Wien Group and about 30 million at Vienna Airport

 

“The good business development enables the biggest investment drive in the company’s history”

“2025 was an economically strong year for us featuring a 7.2% revenue increase. As the result of the one-off derecognition of assets in connection with the terminated 3^rd runway project, the Group net profit fell slightly from the previous year to € 210.1 million and EBITDA declined similarly to € 412.4 million. However, the improved business development could offset half of the negative impact. All segments and international strategic investments made positive earnings contribution. In this regard, the strong upward trend in Malta is particularly gratifying. The airport expansion in Vienna and Malta is in full swing. Following investments of € 281.3 million in 2025, we will invest a record amount of approx. € 330 million in the year 2026 – in Vienna, this is being fully financed from our funds. Despite the fee reductions and a difficult business environment, we expect a stable earnings development of about
€ 210 million in 2026. The aviation sector is generating significant growth across the globe, whereas Europe is pulling the regulatory “handbrake” i.e., burdening the sector with false and discriminatory regulations which inhibit growth. There is an urgent need to correct the current hostile approach of the EU Commission which has such an adverse effect on air traffic. Austria can also provide support by enabling quicker procedures and approval processes and enacting a significant reduction of the air transport levy,” states Günther Ofner, Joint CEO and CFO of the Vienna Airport operating company Flughafen Wien AG.

 

“Record passenger traffic in 2025 – Target for 2035: 40 million passengers at Vienna Airport”

“2025 saw a new all-time high in passenger volume at Vienna Airport, namely 32.6 million passengers. The outlook for 2026 is more cautious but still at a high level of about 30 million passengers. Our target for the year 2035 is 40 million passengers at Vienna Airport. We are already preparing for this today by making extensive investments in quality and the infrastructure.  All security checkpoints will be equipped with CT scanners until summer of 2026, and we are improving the quality of people’s stay by means of expanded service offerings such as new children’s areas and much more. The new Terminal 3 Southern Expansion building will be put into operation in the second quarter of 2027. Passengers will experience a shopping and restaurant offering as well as new and spacious lounges, a large and centralized security checkpoint and other amenities spanning 70,000 m². Afterwards work will commence on enlarging Pier North to include additional gates and parking positions for wide-body aircraft, which will be concluded by 2031,” states Julian Jäger, Joint CEO and COO of Flughafen Wien AG.

 

Dividend proposal: € 1.65 per share

The Management Board will propose a dividend of € 1.65/share (2024: € 1.65/share) for the year 2025 to the Annual General Meeting. All employees working for Flughafen Wien AG will also profit via the employee foundation, which holds 10% of the company’s shares. The payout ratio therefore stands at approximately 75%, and the dividend yield for 2025 is approximately 3%.

 

Business results in 2025: Revenue increase to € 1,128.9 million and Group net profit of € 210.1 million

The Flughafen Wien Group generated total revenue of € 1,128.9 million in the financial year 2025, comprising a rise of 7.2% from the previous year. Revenue growth was particularly driven by passenger growth as well as the non-aviation business. EBITDA fell by 6.8% from the prior-year level to € 412.4 million and EBIT declined by 8.7% to € 279.5 million. The Group net profit before non-controlling interests in the full year 2025 equalled € 210.1 million, comprising a drop of 12.3%. The cash flow from operating activities amounted to € 333.3 million (-24.9%).

 

Good revenue development of all segments

Revenue of the Airport Segment climbed from the prior-year level to € 536.5 million, which is primarily related to the good traffic development and fee adjustments. Segment EBIT equalled € 96.0 million. The increased revenue of the Handling and Security Services Segment, which rose to € 198.0 million, was driven by the record volume of air cargo. EBIT of the segment reached € 8.7 million. The Retail & Properties Segment reported a rise in revenue to € 215.0 million in 2025. This improvement can be mainly attributed to the higher shopping, hospitality, lounge and parking income related to passenger growth. EBIT of this segment improved to € 97.2 million. Revenue of the Malta Segment was up to
€ 157.0 million as a result of the strong increase in passenger volume, whereas the segment’s EBIT rose to € 75.4 million.

 

Capital expenditure

A total of € 281.3 million was invested in intangible assets and property, plant, and equipment as well as investment property in the year 2025 (2024: € 189.8 million). The largest investment project at Vienna Airport entailed expenditures of € 127.4 million for the Terminal 3 Southern Expansion building. 

 

Increased capital expenditure to about € 330 million in 2026

Despite the challenging business environment, Vienna Airport is investing heavily in the further development of the flight hub and will increase its total capital expenditure to approx. € 330 million in 2026. The biggest single investment project is the Terminal 3 Southern Expansion building. Other key investments include construction of the Office Park 4 NEXT as well as modernization measures, for example security checkpoints equipped with new CT scanners.

 

Passenger development forecast for 2026: About 41.5 million passengers expected in the Flughafen Wien Group and approx. 30 million at Vienna Airport

Flughafen Wien AG expects approx. 30 million passengers at Vienna Airport and about 41.5 million travellers in the Flughafen Wien Group (incl. Malta and Kosice airports) for the entire year 2026.

 

Financial guidance for 2026

The Flughafen Wien Group anticipates total revenue of about € 1,050 million for the entire 2026 financial year, as well as EBITDA of approx. € 415 million, a Group net profit for the year before non-controlling interests of about € 210 million and approx. € 185 million after non-controlling interests. Capital expenditure is expected to equal about € 330 million.

 

The current passenger and financial guidance is based on the assumption that there will not be any additional adverse geopolitical effects or massive restrictions on flight traffic.

 

The AirportCity is booming – 5 new aerospace companies will expand the Space Hub – new Office Park 4 NEXT will increase capacity

The AirportCity is continuing on its growth path. On balance, 20 new companies located their business operations at the Vienna flight hub in 2025. This will be followed by five new space-tech companies joining the aerospace cluster “VIE Space Hub” in 2026. The airport is expanding capacities for business location projects and jobs with the new Office Park 4 NEXT, featuring 17,000 m² of additional office and conference space in the heart of the AirportCity and scheduled to come on stream in 2028. Moreover, the third hotel at Vienna Airport, also the largest hotel in Lower Austria with 510 rooms, will open shortly. Vienna Airport is the largest employer in Eastern Austria, with more than 23,500 employees in more than 250 companies.

 

Construction of the Terminal 3 Southern Expansion building is in full swing – Vienna Airport ranks among the best in Europe for quality

Vienna Airport is continuously winning awards for its service quality. It was recently given the ASQ Award by the renowned aviation association ACI for the “Best Airport at departures 25-40 million passengers/Europe” as well as the Skytrax award as having the “Best Airport Staff Europe” for the fifth time. Furthermore, Vienna is also ranked third in punctuality for European flight hubs with more than 25 million passengers. In the future, Vienna Airport will also continue to attach major importance to quality and capacity. The new Terminal 3 Southern Expansion building will be put into operation in 2027, and construction work is already in full swing. New comfortable leisure and lounge areas, new bus gates and numerous new shopping and restaurant offerings will be created over 70,000 m². Furthermore, the Pier North will be expanded to encompass additional gates, and all security checkpoints will be equipped shortly with state-of-the-art CT scanners.

 

 

Disclaimer

All statements made in this press release that refer to future developments of Flughafen Wien AG/Flughafen Wien Group are based on current assumptions and forecasts of the management. If the premises for these forecasts do not occur or risks indicated in the risk report arise, actual results may vary from these estimates. Despite the utmost care, all forward-looking statements are therefore made without guarantee and Flughafen Wien AG/Flughafen Wien Group assumes no obligation to update these forward-looking statements or to adapt them to future events or developments.

 

 

Consolidated Income Statement

 

in € million 2025 2024 Revenue 1,128.9 1,052.7 Other operating income 15.0 13.9 Operating income 1,144.0 1,066.6       Expenses for consumables and purchased services -56.5 -55.7 Personnel expenses -419.5 -386.1 Other operating expenses -254.8 -190.1 Reversals of impairment/impairment on receivables -0.7 5.5 Pro rata results of companies recorded at equity -0.0 2.0 Earnings before interest, taxes, depreciation and amortisation (EBITDA)  
412.4 442.3       Depreciation and amortisation -132.9 -135.8 Impairments 0.0 -0.4 Earnings before interest and taxes (EBIT) 279.5 306.1       Income from investments, excluding companies recorded at equity 0.9 0.8 Interest income 13.4 17.2 Interest expense -4.3 -2.8 Other financial result 1.2 0.4 Financial result 11.1 15.5       Earnings before taxes (EBT) 290.6 321.7       Income taxes -80.6 -82.2 Net profit for the period 210.1 239.5       Thereof attributable to:     Equity holders of the parent 185.0 216.3 Non-controlling interests 25.1 23.3       Earnings per share
(in €, basic = diluted) 2.21 2.58

  

 

Balance Sheet Indicators

 

in € million 2025 2024 ASSETS:     Non-current assets 1,819.9 1,717.7 Current assets 593.7 682.7       EQUITY & LIABILITIES:     Equity 1,726.9 1,667.2 Non-current liabilities 312.7 320.2 Current assets 374.0 413.0       Total assets 2,413.6 2,400.4       Net liquidity 413.8 511.6

 

Cash Flow Statement

 

in € million 2025 2024 Net cash flow from operating activities 333.3 443.7                 Investing activities -174.0 -329.4                 Financing activities -151.6 -124.0       Free Cash Flow 159.3 114.2       CAPEX¹ 281.3 189.8

 

1. Excluding financial assets

 

The Annual Report and Financial Report of Flughafen Wien AG for 2025 from January 1 December 31, will be available to the general public on the Internet at

http://viennaairport.com/en/company/investor_relations/publications_and_reports.

 

Vienna Airport, 2nd of March 2026      The Management Board

  

Contact: Corporate Communications of Flughafen Wien AG 

 

Press Office      
Peter Kleemann, Company Spokesman
Tel.: (+43-1-) 7007-23000
E-Mail: p.kleemann@viennaairport.com   

Investor Relations
Bernd Maurer
Tel.: (+43-1-) 7007-23126
E-Mail: b.maurer@viennaairport.com

Website: www.viennaairport.com