21st Austria weekly - Vienna Airport, OMV (04/03/2021)

Vienna Airport (Flughafen Wien): Covid-19 pandemic negatively impacted Flughafen Wien AG’s business results in 2020. Revenue decreased by 61.1% to Euro 333.7 mn, EBITDA by 85.9 % to Euro 54.1 mn. The Flughafen Wien Group plans to be profitable again in 2021. Sufficient liquidity has been secured to cope with all predictable crisis scenarios. From today’s perspective, the Flughafen Wien Group expects revenue of Euro 430 mn, a positive EBITDA of Euro 150 mn and a slightly positive consolidated net profit of Euro 4 mn in the 2021 financial year. “The airport operating company Flughafen Wien AG registered a painful decline in revenue and earnings and recorded the first loss-making year in the company’s history with earnings at minus € 75.7 million. Up until now, short time work has enabled us to avoid layoffs. Due to the fact that the coronavirus crisis will continue to accompany us for a while, it is absolutely necessary to extend short time work until the end of 2022 for sectors which have been particularly hard hit by high revenue losses. This is the only way to prevent a massive wave of job cuts. A key factor in finding our way out of the crisis is the international recognition of test and vaccination certificates. Whoever has been vaccinated, is immune or shows negative test results should be allowed to travel. Here speed is imperative because planning for the 2021 vacation season is already well underway. One-third of all Austrians would like to vacation abroad and fly to their destinations this year, and it’s not justifiable to forbid vaccinated or immunised people from travelling on a permanent basis”,Günther Ofner, Member of the Management Board of Flughafen Wien AG, commented.
Flughafen Wien: weekly performance: -1.28%

OMV: OMV, the integrated, international oil, gas and chemicals company headquartered in Vienna, plans to build a pilot plant at its Schwechat Refinery which will produce second-generation biofuels from 2023 using a patented process developed inhouse. The plant involves advanced biofuels that are not in competition with foodstuffs. A typical refining process will see the waste-based substance glycerin turned into bio-alcohol, which when added to gasoline reduces its CO2 footprint. “After more than five years of research, we are now investing in a ‘Glycerin2Propanol’ pilot plant and thereby contribute to the further development of advanced biofuels. The new plant will be part of the existing value chain in the Schwechat Refinery and is an additional building block in OMV’s sustainable business model”, said Thomas Gangl, OMV Chief Downstream Operations Officer. Construction is set to start in the second quarter of 2021. The ‘Glycerin2Propanol’ pilot plant should be operational in 2023.
OMV: weekly performance: 7.88%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (04/03/2021)

Christian Drastil: Wiener Börse Plausch

Wiener Börse Party #636: Marcel Hirscher läutet wieder die Opening Bell und ich denke dabei an Palfinger und Raiffeisen

Bildnachweis

1. OMV: Weitere Petrochemie-Investitionen in die Raffinerie Burghausen; Credit: OMV

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