Original-Research: Flughafen Wien AG (von NuWays AG): HOLD
Source: EQSClassification of
Company
ISIN: AT00000VIE62
Reason for the research: Update
Recommendation: HOLD
from:
Target price:
Last rating change:
Analyst:
Strong Q2 passenger numbers, still on HOLD; chg. est & PT
Topic: FWAG released better than expected June traffic results that marked new records.
Strong June traffic results: Group passenger numbers rose by 8.4% yoy to
3.97m (eNuW: 3.84m). While
Q2 and YTD well above prior year: Q2 passenger numbers rose by 8% (YTD: +10%), despite rising ticket prices and geopolitical uncertainties, highlighting the unbroken demand for air travel.
Q2 results to come in strong: The 8% increase in Q2 passengers coupled with the 9.7% increase inairport charges (c. 40% of group sales) indicate a strong top-line growth for Q2'24e, which we expect to come in at € 275m (eNuW, +11% yoy).
Busy summer in full swing: On
Continued airline expansions at
Highest service quality maintained: While Vienna held its position as the
most punctual
Consequently, we remain at our HOLD recommendation for now, but also highly appreciate the strong operating performance.
You can download the research here:
http://www.more-ir.de/d/30203.pdf
For additional information visit our website
www.nuways-ag.com/research.
Contact for questions
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148
-------------------transmitted by EQS Group AG.-------------------
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.