Fraport Group achieves positive financial performance
Frankfurt, November 6, 2014 (STAT):- In the first three quarters of the 2014 business year, Fraport AG’s adjusted Group revenue increased by 2.3 percent to €1.79 billion compared to the same period in 2013. Group EBITDA (earnings before interest, tax, depreciation and amortization) grew by 6.4 percent to €621.3 million year-on-year, while the Group result rose by 1.7 percent to €219.6 million. Operating cash flow markedly improved by 10.1 percent to €408.9 million. Likewise, free cash flow soared to €204.4 million in the first nine months of 2014, up from €41.3 million in the same period last year.
The Fraport Group achieved positive financial performance thanks to traffic growth in the first three quarters of 2014. Frankfurt Airport (FRA), the Fraport Group’s home base, recorded a 3.2 percent rise in passenger figures, despite several strike days that led to almost 3,700 flight cancellations and affected over 430,000 passengers. FRA posted new monthly passenger records every month from May to September 2014. A new historic daily record was achieved on the last Friday in September 2014, when Frankfurt Airport served some 214,000 passengers in a single day. Cargo (airfreight and airmail) throughput also increased, rising by 2.1 percent to some 1.6 million metric tons. While aircraft movements remained stable at 357,016 takeoffs and landings (down 0.1 percent), maximum takeoff weights (MTOWs) rose by 2.2 percent to almost 21.9 million metric tons – due to airlines deploying larger aircraft types.
Traffic figures continued to grow not only at FRA but also at airports in the Group’s international portfolio. Fraport AG (which is listed on the German MDAX index) has expanded its portfolio twice this year by acquiring U.S.-based Airmall Group – which markets retail space at North American airports – and by winning the bid for a majority stake in Aerodrom Ljubljana, the operating company that runs Ljubljana Airport (LJU) in Slovenia.
Commenting on the positive result, Fraport AG’s executive board chairman Dr. Stefan Schulte said: “Our latest financial figures show that we are on track to meet our full-year outlook for 2014. As our international portfolio is truly contributing to the company’s financial success, we are delighted that Fraport could gain two new international investments this year.”