Flughafen Wien Falls on Skylink Terminal, Slovakia Charges

Flughafen Wien AG (FLU), the operator of Vienna International Airport, fell the most in more than three months after saying nine-month profit declined because of writedowns on a new terminal and its Slovak airport.

Net income fell to 20 million euros ($27 million) from 72.2 million euros a year earlier, Flughafen said in a statement today. Net income was 43.3 million euros in the first six months of the year, implying Flughafen made a third-quarter loss, according to Bloomberg calculations. The company will report full results as scheduled Nov. 24, it said.

The company said that “deficient performance by contractors and unjustified increases in cost” at its new Skylink terminal in Vienna led to impairment charges of 29 million euros.

Traffic growth at the Kosice, Slovakia terminal “will fall substantially below earlier expectations,” Flughafen said. It wrote down the value of that investment by 21 million euros.

The shares fell as much as 4.8 percent, the most since Aug. 9, and traded down 3.1 percent at 30.54 euros at 10:48 a.m. in Vienna.

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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