Sales Process Flughafen Zweibruecken GmbH

Sales Process Flughafen Zweibruecken GmbH
We open up perspectives
Company Profile
Zweibruecken/Munich, August 2014
1. Overview Zweibruecken airport
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
Page 2
Zweibruecken airport as integral part of a regional economic concept
Company overview and business development
Business areas
 Development & airport operations
 Locating aviation-related business
 Development air community
State
RhinelandPalatinate
Ownership structure
ZEF*
50%
50%
Managing directors
 Werner Bosslet
 Ruediger Franke
 Zweibruecken airport is located in central Europe and covers a 200 km catchment area with 15 million inhabitants. Through selected and attractive travel
destinations passenger numbers have currently been increased significantly
 Since its official opening in 1994 Zweibruecken airport has been an attractive cargo site and can be approached by all major cargo aircrafts 24 hours per
day
 The airport complies with aerodrom reference code 4E and offers a runway according to strength classification PCN 75 F/A/W/T
 With 63 employees Zweibruecken airport 2013 generated a total output of about EUR 6.6 m (LFY EUR 5.1 m) and a gross profit of EUR 4.1 m (LFY EUR
2.5 m) **
Flughafen Zweibruecken GmbH
Local Companies
Airlines
Resident airlines and companies
Historical development
Maintenance companies
Aircraft financing
Air Cargo
ProJet Business Charter & Flight School
1992: Founding
1991: Exit
ZEF*
US-Armed froces
1994: First landing
of a civil aircraft
2007: Start
TUIfly
2006:
Infrastructural
partner World
1999: First landing of a Cup 2006
cargo plane
1999: Opening
of terminal
* Zweckverband Entwicklungsgebiet Flugplatz Zweibruecken  carried by regional public authorities and integrated communities;
** Preliminary financial statement 2013 and certified financial statements 2012
© perspektiv GmbH 2014
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Current infrastructure Zweibruecken airport
General infrastructure
Airport infrastructure
 Location: Zweibruecken, Germany, in Western
Palatinate, near French border between
Saarbruecken and Kaiserslautern
 Runaway:
 Length: 2950 Meter / 9587 feet
 Width: 45 Meter / 150 feet
 Strength: PCN 75 F/A/W/T
 Airport site with 174 ha and an additional
310 ha / 769 acres reserved for development
 ILS-Cat 1; ILS-Cat 2 planned
 Population of 15 million people within
200 kilometer radius, including major
German cities Frankfurt, Wiesbaden, Mainz, Trier, Saarbruecken and
Mannheim, French cities Strasbourg and Metz as well as Luxembourg
 Excellent highway and rail system running North-South and East-West
bound. Major highways are A5, A6, A61 and A63, Railways quickly
connect to Kaiserslautern, Paris (TGV), Saarbruecken, Stuttgart,
Frankfurt
 Equipped to handle all aircraft types up to cat. 4E
 No slot restrictions; up to 6 (possibly 10)commercial flights possible at
night (22:00–6:00)
 Passenger terminal opened in April 1999; terminal capable of
processing 500 passengers per hour
 3000 qm cargo terminal with several storage facilities to facilitate up to
25.000 tons cargo a year
 Direct truck access to ramp for loading and unloading if necessary; fast
turn around times
 Customs / immigrations available at airport currently on request
Zweibruecken airport is well equipped for cargo and passenger operations
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
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Strong competitive situation through geographical-driven challenge
Aircraft movements 2009–2013*
Passenger & Cargo development 2009–2013*
Number of aircraft movements
Number of passengers
338,219
20,846
15,945
14,744
13,230
11,851
Cargo development in to
264,274
223,265
395.1
125
85.6
2009
2010
2011
2012
2013
2009
40
2010
Destinations per August 2014
Turkey
Istanbul; Antalya; Ankara
Greece
Rhodes; Heraklion
Canary islands
Tenerife; Fuerteventura; Gran Canaria
Mallorca
Palma
Bulgaria
Burgas
Tunisia
Enfindha; Djerba
Flughafen Zweibruecken GmbH
242,886
2011
2012
220,737
82
2013
Local competitors
Airport Saarbruecken
 32 Kilometers
Airport Karlsruhe BadenBaden
105 Kilometers
Airport FrankfurtHahn
 127 Kilometers
Airport Stuttgart
 180 Kilometers
Airport Frankfurt-Main
 182 Kilometer
© perspektiv GmbH 2014
5
FrankfurtMain
3
FrankfurtHahn
4
Stuttgart
1
Saarbruecken
2
Karlsruhe /
Baden Baden
* Preliminary financial statement 2013 and certified financial statements 2009–12
Page 5
Key Financials – Income statement
Earnings situation 2010 – 2013*
2010
2011
2012
Total output
Gross profit
EBITDA
3,540
1,015
-3,330
4,407
1,708
-2,576
5,062
2,511
-2,192
6,649
4,066
-551
EBIT
-4,619
-4,338
-4,131
-2,561
in % of total output
-130%
-98%
-82%
-39%
53
56
63
67
EUR k
Number of employees
6,649
-39%
2013
3,540
2,089
2,036
2,542
302
236
264
2,801
2010
227
264
Fees for air traffic
controllers
442
377
418
623
618
618
500
2010
2011
2012
2013
Flughafen Zweibruecken GmbH
∑
Others
Commissions
74
146
264
312
245
355
363
349
Lease & license
agreements
533
Schedule of charges
367
2011
2012
Total output
2013
EBIT margin
Other operating income split 2010 – 2013*
547
56
146
264
260
298
-98%
-130%
Revenues split 2010 – 2013*
∑
5,062
-82%
4,407
1,451
2,371
2,521
3,848
240
119
32
260
42
390
255
44
409
Security charges
743
Handling charges
2010
© perspektiv GmbH 2014
564
1,115
2011
269
121
130
2,183
Others
Calculation mineral
oil tax
Irregular income
806
Grants
1,195
1,274
Special item
investment grants
2012
2013
* Preliminary financial statement 2013 and certified financial statements 2012
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Key Financials – Balance sheet
Development of the financial situation 2012 – 2013*
EUR k
2012
2013
delta
2013/2012
28,875
27,594
-4.4%
Assets
A. Fixed assets
I. Intagible assets
II. Tangible assets
1) Properties, equiv. rights and buildings
2012
delta
2013/2012
2013
Liabilities
8
8
-3.3%
28,867
27,587
-4.4%
22,227
20,936
-5.8%
2) Machinery and equipment
3,663
3,398
-7.2%
3) Other equipment, PPE
1,651
1,439
-12.9%
4) Advanced payments & assets under constr.
1,325
1,814
36.9%
B. Current assets
EUR k
A. Equity
128
Subscribed capital
B. Special item for investment grants
C. Provisions
Other Provisions
D. Liabilities
128
0.0%
128
128
0.0%
18,430
17,193
-6.7%
251
282
12.3%
251
282
12.3%
12,064
10,647
-11.7%
1,992
638
-68.0%
I. Liabilities to financial institutions
3,899
3,642
-6.6%
I. Inventories
102
78
-23.8%
II. Trade payables
1,028
451
-56.2%
II. Receivables and other assets
993
408
-58.9%
III. Liabilities to shareholders
6,936
6,399
-7.8%
1) Trade receivables
712
326
-54.2%
IV. Liabilities to state Rheinland-Pfalz
2) Receivables from state Rheinland-Pfalz
109
36
-67.3%
V. Other liabilities
3) Other assets
172
46
-73.0%
898
152
-83.0%
9
18
111.0%
30,876
28,251
-8.5%
III. Cash on hand and bank deposits
C. Prepaid expenses
Sum Assets
E. Deferred income
Sum Liabilities
Status 31.12.2012
Inflow
Outflow
EUR k
EUR k
EUR k
EUR k
Liquidation
Status 31.12.2013
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
EUR k
EUR k
76
0
-100.0%
125
156
24.8%
2
1
-55.1%
30,876
28,251
-8.5%
18,430
36
0
18,467
1,274
17,193
* Preliminary financial statement 2013 and certified financial statements 2012
Page 7
2. Overview sales process
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
Page 8
Invitation for submitting an “Expression of Interest”
Intention to sell
Flughafen Zweibruecken GmbH (“selling party“) is the ownership and operating entity of the assets of airport Zweibruecken.
On July 25, 2014 district court of Zweibruecken passed a ruling to open a preliminary insolvency procedure over the assets of Flughafen Zweibruecken
GmbH. Dr. Jan Marcus Plathner, attorney-at-law at Brinkmann & Partner, has been appointed as preliminary insolvency administrator. Currently the
business operations of airport Zweibruecken are continued fully operating.
The assets of Flughafen Zweibruecken GmbH are to be sold to one or several investors in the course of an open, transparent and unconditional tender
procedure. Investors have the option to purchase all assets, units to be defined or single assets. The most economically advantageous tender(s) will be
accepted. The sole decisive criteria for the selection of the successful bidder or successful bidders will be the submission of the best economical offer taking
into account transaction security.
The transaction is to be conducted through one ore several asset deals. Thus the assets will be transferred to one or several new legal entities. Financial
and third party liabilities are planned to remain with the insolvent company. The take-over of assets in the framework of an asset deal aims to enable a new
start free of financial burdens for potential investors.
Submission date
All interested parties with the purpose of acquiring assets of Flughafen Zweibruecken are invited to submit an “Expression of Interest”. The “Expression of
Interest” for participating in the sales process is to be addressed in text form at the latest by
September 22, 2014, 18:00 CEST
solely to the contact partner mentioned below:
perspektiv GmbH
Jonas Eckhardt
Director
Prinzregentenstraße 78
D-81675 Munich
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
Fon: +49 89 41 07 34 0
Fax: +49 89 41 07 34 10
Email: [email protected]
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Invitation for submitting an “Expression of Interest”
Requirements to the “Expression of Interest”
Expressions of Interest must be in English or German. They have to contain the following information:
 Name
 Address
 Contact details and contact person
Expressions of Interest for third parties (e.g. in case of agents, consultants or brokers) are permitted, if suitable power of representation is presented in text
form and corresponding interested party is disclosed.
Remarks to the investor process
Currently the European Union is reviewing the legality of state aid amounts granted. A potential liability born by the purchaser or purchasers for state aid
recovery is aimed to be avoided through the implementation of open, transparent and unconditional bidding proceedings according to EU Commission's
requirements / European courts.
Submission of a correct Expression of Interest as well as completion of provided non-disclosure agreement (“NDA“) are prerequisites for participating in the
further selling process. Subsequent information regarding the transaction object and the sales process will be provided for interested parties.
The submission of a delayed expression of interest does not lead to an exclusion from the process. However no modification of the selling process or
deadlines will take place and potential disadvantages due to the delay will solely be borne by the interested party. Costs incurring on interested parties are
to be borne by the corresponding interested party even if the selling process would be terminated.
The sole decisive criteria for the selection of the successful bidder or successful bidders will be the submission of the best economical offer taking into
account transaction security.
The selling parties reserve the right to change the sales process in accordance with the principle of “equal treatment” at any time and without stating
reasons.
Flughafen Zweibruecken GmbH
© perspektiv GmbH 2014
Page 10

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