Hello to everyone in the call. Vienna International Airport respective CFO and Co-CEO, Mr. Günther Ofner will present half year 2026 results and will later on be available for Q&A. We excuse today COO Julian Jäger, so call is done by Mr. Ofner, as I said, usual presentation and Q&A afterwards. Please go ahead. Yeah. Good afternoon to anybody. We can present to you today the results for the first six months of 2026. The year kept us rather busy because we saw challenging market conditions. On the one hand, we had a decrease in our tariffs of 4.5% in passenger tariffs and 2.1% in landing tariffs. We saw the move of Wizz Air from Vienna to Bratislava and the closure of their base in Vienna, and also Ryanair decreased seat capacity. On top of that, the conflict in the Middle East also substantially negatively influenced passenger numbers. The volume to the region was down roughly 45% in the first half of 2026. We see now a recovery, but it is still at roughly - 30, so not at the previous levels. Putting all that together, it resulted in passenger decrease in Vienna and what we not expected in that amount, all that was outweighed by a dynamic growth in Malta and also in Košice. Malta grew with 15.6%, and Košice above 40%+. In Košice is the reason that a public service obligation was awarded from the Republic of Slovakia to Wizz Air to serve the destination Košice to Bratislava. Putting all together, we saw a slight increase in turnover and a slight increase in total passenger numbers for the group. Resulting from that, we can slightly improve our passenger and financial guidance, so our passenger guidance can now be raised to approximately 42.5 from before 41.5, and a plus of 500,000 to 30.5 million passengers in Vienna. We also can slightly improve our financial guidance with a revenue of around EUR 1.80 million, EBITDA of around EUR 425, and net profit before non-controlling interest of around EUR 220 million, and net profit attributable to equity holders of the parent of around EUR 190 million. The difference from EUR 220 to EUR 190 outlines the growing impact of Malta for our group results. If we look at the figures in detail, you see that revenue is more or less flat with 0.9%. EBITDA is up 7.3, EBIT is up 9.1. Financial results are still positive, but decreasing. That is due to lower interest rates and also to lower volume, as we will see later. The group net profit ends up with 123.2. It is a plus of 7%, and after non-controlling interests to 108.3 + 5.4%. The reasons for the higher profitability are, on the one hand, cost management and cost reductions. If we go into the detail, for example, one major position is maintenance, and we have not reduced the level of maintenance. The expenses are more or less around the figures of last year. But we had provisions for some of the projects who could be used this year. Higher investments also include more own personal used for these investments. Also there, we see a positive effect for overall results. January, February had a very severe winter. Also revenues from de-icing contributed positively. But more than half of the positive effect comes from the results in Malta. If we look at the operating expenses, you see depreciation and amortization is slightly up, and this is a trend we will see also in the coming years, both in Vienna and in Malta, and it is the result of our investments there. Other operating expenses are strongly lower with 13.8% to EUR 74.6, and very important personal expenses are only up with 1.2% due to the fact that we reduced staff throughout the year, roughly 200 headcounts. The reduced maintenance expenses, as I already outlined, are connected with provisions we could use from last year, and there are cost reductions and cost improvements all over the board, and all our departments and daughter companies were part of our cost savings program. Cash flow is slightly lower than last year. Also, free cash flow, CapEx is up to EUR 150.8. Net liquidity is strongly reduced due to the fact that we paid out dividends and we are also paying for the investment. The dividend payment has also slightly reduced our equity, but the equity ratio still is at 72.4%. If we look at our airport city development, it is really going very well, especially our Space Hub. We have in total five new companies who settle on the airport, and the cooperation between the European Space Agency, ESA Phi-Lab, and the companies here is very productive. This autumn, the first Austrian satellite will be launched, and it was assembled here in Vienna, and three more will follow next year, and the companies have very strong growth expectations for the coming years. As Austrian Airlines will move out of our Office Park 2 and settle down on the new Office Park 4 next, we will have plenty of room for the further development of these companies. The new hotel has already started operation end of June. It is now owned by Leonardo Hotels, and that is a very professional hotel operator, and I think we will see good development also there. The regulatory environment still is very difficult, and it is homemade and it is Europe-made, partly both. The problem with the ticket tax is an internal problem of Austria. Only nine countries within the European Union charge a ticket tax. Austria is among the most expensive ones, and for a low-cost carrier, that is a very substantial burden. Bratislava is just 55 km from Vienna, and there the tax is zero. We need a substantial reduction of this tax, and the first announcement of the double budget is that roughly EUR 30 million per year for 2027 and 2028 are now reserved, and we hope that there will be the possibility to even increase this sum so that the competitiveness of our airport can be strengthened again. On the other hand, we see very burdensome legislation on the European level, and if we compare the development of the aviation sector in Europe to other regions, we see that Europe is losing ground all over the board. There is an urgent need to reform the hostile EU regulations against the growth of aviation. Financial guidance I already mentioned. Putting again all together, revenue approximately EUR 1.80 million, EBITDA EUR 425 million, group net profit EUR 220 million, after minorities EUR 190 million, CapEx EUR 330 million. On the basis of these developments, let me continue with traffic development for our group. The growth in the first half of 2026 was 1.9% due to 15.6% in Malta and 33.5% + in Košice, which totals to 1 million something in passenger numbers and plus, and we saw - 3.2% in Vienna. If we look at July figures, you see the growth in Malta is more or less the same with 14.7%. Košice is growing less with 16.9%. We could outweigh the negative effects in Vienna through the growth in Malta and Košice. If we look at Vienna in detail, we had 14.3 million passengers, and the decrease in July was 4.7%. For the rest of the year, it will be somewhere around - 5% for Vienna. Local passenger, 3.9%. Transfer passenger, - 2%. Flight movements, - 4.6%. Cargo was more or less even. What was very positive is that the seat load factor increased by 1.7 points, and what should be stressed is that Austrian Airlines, our home carrier, had a very robust growth of 6.1% to 6.9 million passengers, and the seat load factor there was up 3.1%. They had offset partly what Ryanair reduced in Vienna. Unfortunately, the high fuel costs put their results into the negative territory. If we look at the market share, we see that Austrian Airlines gained market share, and Ryanair still is the second-largest carrier, but has lost market share. Then you see Eurowings, Turkish Airlines, and the rest of smaller airlines. Lufthansa Group has increased its overall percentage of total passenger volumes to 52%, and it was a shift in favor of network carriers. Low-cost traffic down by 18%. If you look at the regional development, we see plus in Western Europe and North America, and also Africa. A strong plus for the Far East. A reduction by 45% for Middle East, and - 12% for Eastern Europe, where we also saw a decline. What is very important from our perspective is that in respect of operational performance, Austrian Airlines is best in class within Lufthansa, and in regard of punctuality, we are really still among the best in Europe. That has been a little bit also supported by the fact that we have this summer, relatively few thunderstorms, which normally disturb summer operations to a certain degree. But the partnership between our home carrier and the system partners here in Vienna is very productive and enables these developments. We have been awarded Best European Airport 2026 from 25 million to 40 million passengers by ASQ, and our Vienna lounge was named Best Airport Lounge Europe for the third year in a row by Priority Pass. I hope you have sooner or later the possibility to pass by and use it. Despite the overall turbulences, we had several new airlines or new frequencies, airBaltic, China Eastern Airlines, Air Corsica, Royal Jordanian Airlines, SalamAir, Animawings. We are serving right now roughly 200 destinations from Vienna and 21 long-haul destinations to North America and the Far East. We hope that the aspiration of Austrian Airlines to grow, especially long-haul, will be supported by Lufthansa. Three new Dreamliners already arrived. Two more should come in the coming month. Altogether, as already mentioned, a slight improvement of traffic forecast by one million, and we are quite sure that we can reach these figures if not a new hot war breaks out in the Middle East. If we look at the segments, clearly airport segments suffered from lower passenger volume and reduced fees. The termination of winter incentive was partially offsetting this unfavorable development, and we had a very successful implementation of the Entry/Exit System. Unlike in many other airports, we have no problems, and waiting times are within reasonable frame. This is a very positive fact to be mentioned. Handling and security services have profited from the de-icing income in the winter month. Before, I think end of July, a new license was issued for a handling agent in Vienna, which will replace Airline Assistance Switzerland from October this year. Retail and properties developed well, especially income for advertising and also food and beverage outlets, the lounges. Lower results we saw in parking because they are closely related to local passenger numbers. We had gains from cost efficiency program, and therefore overall profitability of the airport Retail & Properties segment improved on the EBITDA margin with 3.6% to 52. Malta, I already mentioned, the growth in the airport is more or less related and closely connected with the growth of hotel capacities, and therefore, I think it's well-secured and grounded. Hand in hand with these passenger numbers going up, also the investment program in Malta is accelerated. There is an investment of roughly EUR 300 million for especially terminal buildings, for office park, hotel, and infrastructure that should be realized in the coming years and should contribute to the further positive development of Malta. If you look at the figures, you see EBITDA is up EUR 8.1 million, 17.9%. EBIT is up EUR 6 million, 16.3%, and revenue up EUR 10.6 million, 14.8%. Our south extension is the biggest investment and project we are working on right now. It's in budget, it's in time, and we are optimistic that the time schedule will work so that we can open it in the second quarter of 2027. It will substantially improve the situation here in regard of shopping, of security control, of restaurants, and I hope people will feel very fine in this new environment. That's from my side, and please come forward with your question. Yes. Open Q&A session now. Please raise your virtual hand as we all are used to. Vladimira was the first one this afternoon. Vladimira, please go ahead. Yes. Hello, good afternoon. Congratulations. Hi. Very nice set of numbers. Definitely better than- Thank you. expected in the first half, and I would have just a few questions. First one would be related to these new funds you mentioned, that the Austrian government is making available EUR 30 million per annum in two years' budget, so in total, EUR 60 million. What kind of benefits do you see for Vienna International Airport? If you could be a little bit more specific in which areas you will be benefiting. Next question is related to the winter flight schedule. Of course, this is practically around the corner. So far, we have got really not much information, but for example, Austrian Airlines mentioned that streamlining of winter flight schedule is unavoidable. What do you think it could be impact on you in this case? Or if you have maybe a little bit more information, both related to Austrian Airlines as the most important carrier in Vienna, but maybe some other airlines as well, what to expect from winter schedule. Then one rather technical question related to the segment performance. We have seen in segments that in handling, you had some benefits from de-icing. Without de-icing, of course, assuming until the end of the year, do you still expect that the segment will be in black territory on the EBIT level for the full year? What is the outlook? Thank you. Yeah. Starting with your last question, yes, I think we should be in positive territory throughout the year. It will depend a little bit on the winter schedule, flight schedule, but let's hope things are expanding somehow and we will not see a real war again in Middle East, because this would, in any case, negatively affect traffic also here in Vienna. Winter flight schedule, we have no detailed visibility so far. What we heard is that especially Lufthansa, and Austrian is a part of Lufthansa, has reacted to higher fuel prices with a very severe cost savings program, and some destinations might be canceled. Some have already been announced, like Graz Airport, which was served by Austrian to Vienna and which will not be served in the winter schedule. Yeah, I think a full year, there are 60,000 passengers, Graz to Vienna and back. It's hurting, but it's not a decisive thing. The allocation of funds from the government should be used to reduce the ticket tax, and I hope that they can find more money because it's one of the few possibilities where you can steer growth more or less immediately through public measures. If you put together all effects, the growth we could expect by, for example, halving the ticket tax would bring finally at least the same income for the state, or even more, than keeping it as it is now. So there would be additional shops, additional restaurant, hotels, and all that stuff for additional passengers. So I think it would be a very wise move to allocate some additional funds for this measure to steer growth, at least in the aviation and tourism sector. Thank you very much. Just to clarify this, you are talking about existing funds allocation of the EUR 60 million or hopefully additional funds? No, this is already passed. Already passed. Okay. Yes. Thank you. Thank you. Thank you, Vladimira. Elias, let's continue. Yes. I hope you can hear me. Thanks for taking my questions. I've got a few left. I'll take them one by one. My first one is on your new traffic guidance for 2026. I'm just wondering because, for Vienna, passenger volumes declined by just 3% in the first half, including second quarter, around 7%. Your current guidance for 30.5 million passengers would imply a quite significant decline of around 9% in the second half, which would seem quite unlikely from today's perspective, I guess. Just considering Middle East headwinds are somewhat moderating in terms of the latest traffic developments we've seen. My question is, does the new guidance still include a margin of safety here? Or what sort of adverse scenarios have you baked into the current traffic guidance for Vienna? It includes a little bit of caution because we have no real visibility about Middle East developments. As discussed before, we could see some destinations canceled by Austrian Airlines in the winter schedule. Okay. That is clear. I guess just sticking with the traffic development, I know we have the Wizz Air and Ryanair capacity cuts that are still weighing on traffic developments. If I recall correctly, at the beginning of the year, you mentioned that you would be able to have set around a quarter to one third of that headwind of around 3 million passengers. That shortfall from Wizz Air and Ryanair. I am just wondering, given Austrian Airlines expanding capacity and other airlines adding new routes, whether you still expect to have set around one third of that, or what the current share of these low-cost carrier capacity cuts? It is more. It is a little bit more now. Okay. Due to the growth of Austrian, it is definitely above initial expectations that they could grow by more than 6%. It will very much depend on the further development of the fuel prices. If fuel prices would go down, I think this would help to keep some of the current destinations. If fuel prices stay up high, I think this would trigger maybe some capacity reductions from airline side. Okay, great. More than the third that you were previously hoping to have set. I guess, I do not know, maybe around 40% would be a good guess right now? Yeah square that. Okay. I guess two final quick ones from my side. One would be on the cost trends. How should we expect material and personal costs to evolve over the remainder of the year? With material costs largely flat in the first half, personal costs slightly up. Just wondering whether you sort of expect a similar development in the second half. Yeah personal costs should be up a little bit more because the new collective agreement with 2.4% + started May 1st. So the full effect will be included in the second half. Okay, but on the material side, pretty much Material side should stay stable. Okay, and final one, just on the Austrian air travel tax. I am just wondering if there is anything you can share in terms of conversations you have had with airlines. How material is the risk that you see further capacity cuts further down the line, just given the stark contrast, Bratislava zero aviation tax versus very high at the amount of EUR 12. I am just wondering if there is any color you can share in terms of conversations with airlines, what you are hearing. For the low-cost carriers it is a very substantial burden. Given their flexibility to place airplanes here or there, I would not rule out that they move to further cuts if nothing happens. The first signal that at least a reduction of EUR 30 million is underway might bring some relief. It is not enough, definitely not. The volume has at least to be more than doubled to have an immediate positive effect. It is more than nothing. Given the overall problems in regard of the budget, I think it is already a good signal. Okay, great. Perfect. That is all from my side. Thank you. Thank you, Elias. Simon, you previously raised your hand, now you put it down. Have all questions you wanted to ask been answered, or was it accidentally? Good afternoon. No, all questions have been answered already. Thank you. Okay. Thank you. Okay. You are fine. Any other questions to be asked? Any other topics to be tackled? Something we did not touch? That seems all fine. Then thank you, as every quarterly result, for your interest in the company, for dialing in, for asking your questions. We are out on a couple of road shows in the next weeks. It is next week, Kepler Cheuvreux Virtual Transportation Conference, then it is Baader Investment Conference and NuWays in September. Anyone taking part in these conferences, I am happy to reach out in person. Otherwise, I am always here for you for any questions you might have, and wish you a good afternoon and rest of the day. Okay. Thank you. All the best. Bye-bye. Thanks very much. Thank you. Bye. Bye, have a good afternoon.