2009 press briefing on annual results

16.04.10 14:19
Almost 21 million passengers travelled via Schoenefeld and Tegel in 2009 / EBITDA in 2009 almost twice that of 2005 / BBI funding secured
2009 was yet another successful year for Berlin Airports, who managed to keep passenger figures at a stable high, despite the global financial crisis. Almost 21 million people flew to and from Berlin last year, just two per cent less than in the previous record year of 2008 yet much better than the average of all commercial airports in Germany (down 4.6 per cent in 2009) for the seventh time in a row. This has helped Berlin Airports establish itself in recent years as Germany’s third-largest airport location with an increased market share of 11.6 per cent.

“We are focused on the goal: to make the German capital region of Berlin and Brandenburg one of the top ten regions in European aviation thanks to BBI and establish BBI as a new East-West hub at the heart of the continent”, said Dr. Rainer Schwarz, CEO of Berlin Airports, at the company’s press briefing on the annual results on Friday in Berlin. “We are expecting traffic figures to increase in 2010 and for the first time hope to welcome more than 22 million passengers to Berlin this year. With the opening of BBI in 2011, we aim to continue to grow and establish Berlin as the third pillar of the air traffic location Germany.”

Key financial figures in 2009: EBITDA up despite a drop in passenger figures and revenue

In view of the global financial crisis, 2009 was a difficult year for the aviation industry. Given the negative economic environment, revenues were down 3.3 per cent on the previous year to €243.9 million. Berlin Airports still managed to achieve its financial goals, however, increasing EBITDA (earnings before interest, taxes, depreciation and amortisation) by 14.4 per cent to €91.2 million. “Our cost-cutting programme Herkules played a key role in the company’s good financial performance”, said Schwarz: “Herkules was our ongoing response to the crisis. This cost-cutting programme helped us to save €15 million in material costs in the short term and thus achieve our 2009 earnings target.”

Five-year review: increasing passenger figures, positive profitability trend, reduced risks

As of 2005, Berlin Airports has had to generate internal funding for the new BBI Airport. “Since then, we have not only managed to continuously increase passenger figures, but also make the company more profitable, i.e. ready for BBI”, said Schwarz. Passenger figures have risen by 22.3 per cent and revenues have increased by 16.3 per cent since 2005. EBITDA almost doubled between 2005 and 2009 from €48 million to €91.2 million (up 90.1 per cent). “Our economic efforts over the past five years have paid off: we were able to generate almost €336 million of the €440 million of internal funding for the new airport”, Schwarz reported. “In securing total funding for the airport in 2009 in the form of a €2.4 billion loan for BBI – the biggest European infrastructure financing operation in 2009 – we have placed the project on a solid footing.”

Berlin Airports has also managed to minimise the financial risks for the company considerably over the years, in particular by closing Tempelhof Airport and selling the ground handling service provider Globeground Berlin.

Schwarz adds: “The figures for the past five years show that Berlin Airports has evolved from an airport administration in the traditional sense to a modern infrastructure service provider.”

Outlook 2010

Construction work on the new Capital Airport BBI continues to run at full speed in 2010. The topping-out ceremony for the main building, the passenger terminal, is already scheduled for 7 May 2010. Subsequently, interior work will begin on the terminal, concrete work will continue on the aprons and taxiways, and the first buildings, e.g. power stations and data processing centres, will go into operation as early as winter 2010/2011. “This year will see the BBI come to life”, said Manfred Körtgen, Managing Director of Operations/BBI at Berlin Airports. “BBI is becoming a reality – the terminal topping-out ceremony in May is a key milestone on the way to realising the new airport.”
Hannes Stefan Hönemann

Hannes Stefan Hönemann Head of Corporate

+49 30 6091-70100

Daniel Tolksdorf

Daniel Tolksdorf Spokesperson

+49 30 6091-70100

Kathrin Westhölter

Kathrin Westhölter Spokesperson

+49 30 6091-70100