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FRAPORT: Revenue and earnings increase – Outlook confirmed

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The Fraport Group has successfully started off the new business year, achieving higher revenue and earnings in the first three months of 2019.

Supported by solid passenger growth at Frankfurt Airport and almost all of Fraport’s airports worldwide, Group revenue rose by 17.9 percent to EUR803.8 million. Adjusted for revenue in connection with capital expenditure for expansion projects at Fraport’s Group companies worldwide (according to IFRIC 12), revenue grew by 5.3percent to EUR678.5 million. At Frankfurt Airport (FRA), traffic growth led to higher revenue, particularly from ground handling services, as well as security services and infrastructure charges.


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Moreover, the retail and parking businesses had a positive impact on revenue. In Fraport’s international portfolio, major contributions came, in particular, from the Lima (Peru) and the Fraport USA Group companies. In the U.S. market, Fraport recently took over management of retail areas at New York-JFK’s Terminal 5 (April 2018) and at Nashville International Airport (February 2019).

The operating result or Group EBITDA (earnings before interest, taxes, depreciation and amortization) advanced by 14.8 percent to EUR200.6 million in the reporting period. This amount includes a EUR10.9 million positive effect, resulting from the application of IFRS 16 (effective January 1, 2019). The positive effect is offset by additional amortization and depreciation in the amount of EUR10.4 million and a EUR2.8 million increase in interest. Establishing new rules for the accounting of leases, the IFRS 16 standard specifically affects lease contracts between the Fraport USA Group company and respective concession lessors. Thus, Group EBIT climbed by 4.6 percent to EUR86.1 million. Supported by a better interest result, the financial result improved from minus EUR56.1 million in Q1 2018 to minus EUR49.6 million in the first quarter of 2019.

Correspondingly, Group EBT soared by 39.3 percent to EUR36.5 million, while the Group result (net profit) jumped 42.9 percent to EUR28.0 million.

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Commenting on the Group’s positive business performance in the first quarter of 2019, Fraport AG’s executive board chairman, Dr. Stefan Schulte, said: “We had a robust start to the new business year, supported once more by the ever growing contributions to revenue and earnings from our Group airports worldwide. In Frankfurt, we successfully managed the first stress test of 2019 during the busy

Easter travel period. Together with our partners, we will continue striving to accommodate the high demand of our customers in the best possible way. To achieve this goal, we will further optimize andstreamline processes and improve infrastructure utilization, as well as vigorously moving our expansion projects forward.”

Operating cash flow jumped noticeably by 60.2 percent to EUR129.0 million in the first three months of 2019, reflecting the positive operational performance across the Group’s airports. When adjusting for the changes in net current assets included in the statement of cash flows, operating cash flow improved by EUR12.6 million or 9.1  percent. Despite increased operating cash flow, free cash flow dropped strongly to minus EUR245.9 million in the first quarter of 2019, due to higher capital expenditure both at Frankfurt Airport and in the international business (Q1 2018:  minus EUR66.9 million).

FRA welcomed almost 14.8 million passengers from January to March 2019, up 2.5 percent year-on-year. FRA achieved this increase despite the fact that traffic in March 2018 received an additionally boost from the earlier timing of the Easter school holidays. This year, in comparison, the Easter break fell during April. Fraport’s Groupairports worldwide largely reported positive traffic performance, although the different timing of the Easter holidays impacted some Group airports serving tourist destinations.

Following the end of the first quarter of this year, the Executive Board maintains its forecasts for fiscal year 2019.

You can find our Interim Release Q1 2019 (http://ots.de/HFMbNo) on the Fraport AG website.

MEDIA CONTACT: Torben Beckmann, Fraport AG, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail:  t.beckmann@fraport.de , Facebook:  www.facebook.com/FrankfurtAirport

New Visitor Experience: 90-minute Frankfurt airport tour with focus on Terminal 3 construction project

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The future Terminal 3 at Frankfurt Airport is one of the largest privately-funded construction projects under way in Europe. Currently, the site comprises a huge excavated hole where the foundations for the central terminal building with its underground facilities are being laid. Fraport’s visitor service team has responded to enormous public interest in the project by launching an airport tour that focuses on Terminal 3. The highpoint of the 90-minute bus ride around Frankfurt Airport’s apron is a stop at a platform providing an excellent view of the construction site.

The Terminal 3 excursion also showcases other fascinating aspects of apron and airfield activities. For example, participants experience takeoffs and landings from close-up at the Center and South Runways. A guide is present throughout, relating fascinating facts and figures, including insights into the construction project. Terminal 3 is scheduled to open in 2023. It will include three new piers, with capacity for more than 20 million passengers annually, and will be setting new standards in terms of its architectural design.

Due to safety regulations, participants in the Terminal 3 tour must be at least 16 years of age. The price per person is 15 euros. The tour can be booked for individuals or groups. An ideal addition is a visit to the viewing platform in Terminal 2. The platform is open all year round.

More information on other tours and the Visitors’ Terrace can be found at www.FRA-tours.com .

MEDIA CONTACT: Fraport AG, Angelika Heinbuch, Spokesperson, Press Office, Corp. Communications, 60547 Frankfurt, Germany, Telephone: +49 69 690-28417, E-mail: a.heinbuch@fraport.de ,  Internet: www.fraport.com , Facebook: www.facebook.com/FrankfurtAirport

Frankfurt Airport lays cornerstone for future Terminal 3

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From the left: Dr. Stefan Schulte (CEO Fraport AG), Karlheinz Weimar (Supervisory Board Chairman, Fraport AG), Dr. Thomas Schäfer (Hesse Finance Minister), Uwe Becker (Mayor of Frankfurt and member of Fraport AG’s Supervisory Board), Matias Wenzel (responsible construction site manager) and Prof. Christoph Mäckler (architect).

Fraport AG laid the cornerstone for Frankfurt Airport’s new Terminal 3, one of Europe’s largest privately financed infrastructure projects. Numerous guests and construction workers attended the ceremony, which marked the start of above-ground construction. To remind future generations of this milestone, a group of participants filled and bricked in a time capsule. They included Dr. Thomas Schäfer, Minister of Finance of the German state of Hesse, and architect Prof. Christoph Mäckler, as well as Fraport AG’s executive board chairman, Dr. Stefan Schulte, and its supervisory board chairman, Karlheinz Weimar. During periods of peak activity, up to 5,000 construction workers a day and around 75 tower cranes will be deployed at the Terminal 3 construction site.

During the ceremony, Fraport CEO Schulte stated: “We are building the future with Terminal 3―for Frankfurt Airport, the entire Rhine-Main region and far beyond. By employing state-of-the-art technology and intelligent processes to create an outstanding passenger experience, we are meeting the promise inherent in our slogan, ‘Gute Reise! We make it happen’. With the new terminal, we are adding sufficient capacity for about 21 million more travelers annually by the year 2023. Frankfurt is already an international leader in terms of connectivity. No other aviation hub in the world offers more destinations to business or leisure travelers than Frankfurt Airport. And Terminal 3 will further strengthen Germany’s most important gateway to the world.”

Finance Minister Schäfer said: “Today we aren’t just laying the cornerstone for a new airport building. We are also establishing the basis for more jobs, more opportunities, and greater economic vitality. The construction of Terminal 3 is an important step for strengthening the airport’s competitiveness and therefore also that of the state of Hesse as a center of economic activity. Over the next few years, Fraport AG will invest up to four billion euros in the project. This has the potential to create many new jobs while increasing the importance of Frankfurt Airport as Germany’s largest place of employment. But even though the airport is the powerhouse of Hesse’s economy, this doesn’t mean that it has free rein. The state government will continue to insist that the aviation industry uphold its strong commitment to reducing noise and environmental burdens.”

Terminal 3’s Pier G, with capacity for up to five million passengers, will be completed by 2021 in the southern part of Frankfurt Airport. This modern facility will later be integrated into Terminal 3’s premium product. The plans call for the main terminal building, along with Piers H and J, to be completed in 2023. As a result, the airport will then be able to handle up to 21 million more passengers than now. There will be an option to later add a Pier K, thus increasing the new terminal’s total capacity to 25 million air travelers.

Fraport supervisory board chairman Weimar added: “Frankfurt Airport is a premium air traffic hub. This is obvious from the growing number of travelers wishing to fly from and via Frankfurt. In view of the buoyant growth in passenger volumes, it is high time to enlarge our capacity. So it’s good news that one pier can be completed ahead of the rest. Pier G will begin operating and providing additional capacity as early as 2021. This leaves no doubt that we were right to opt for an architectural design that could be flexibly adjusted as required.”

Architect Christoph Mäckler explained the terminal’s design as follows: “What passengers want before and after flying is, more than anything else, rest and relaxation. This was an essential leitmotif for designing Terminal 3, alongside maximizing the technical and functional flexibility of the building complex. The light-flooded interior spaces feature high-quality materials in warm natural hues to evoke a pleasant ambiance that invites passengers to relax and stay a while. In this respect, the new terminal will be the first of a new generation worldwide.”

Fraport Ausbau Süd GmbH, a wholly-owned subsidiary of Fraport AG, is responsible for managing, supervising and monitoring the construction project. The approved budget amounts to between 3.5 and four billion euros, Fraport’s largest single investment at Frankfurt Airport. Some 500 individual contracts are being awarded for a wide variety of tasks, which is benefitting a large number of small and midsized construction companies, including in the Frankfurt region.

MEDIA CONTACT: Fraport AG, Angelika Heinbuch, Spokesperson, Press Office, Corp. Communications, 60547 Frankfurt, Germany, Telephone: +49 69 690-28417, E-mail: a.heinbuch@fraport.de ,  Internet: www.fraport.com , Facebook: www.facebook.com/FrankfurtAirport

“Best Worscht in Town” brings a currywurst buffet to Frankfurt Airport

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rankfurt Airport is about to gain yet another culinary highlight: “Best Worscht in Town”, a German fast food chain that has achieved cult status, is opening its first airport restaurant. From humble beginnings as a family-run sausage stand that opened in Frankfurt in 1970, it has blossomed into an international franchise.

The menu embraces a wide variety of currywurst specialties for every taste. For the unitiated: currywurst, allegedly invented in Berlin after WW II, has traditionally consisted of steamed and then fried sausage that is typically cut into bite-sized chunks, smoothered with curry-flavored ketchup, and then sprinkled with even more curry powder.

“Best Worscht in Town” has gone a step further, however, to create a veritable currywurst El Dorado that not only meets the expectations of those who love the classic variety with pork or beef sausage, but also features delicious nonmeat versions for vegans and fans of organic products. Those who love spicy foods are also fully catered to: patrons can use a “Spiciness Meter” to choose any level from A for mild to F for eye-poppingly intense (“not for softies!” warns the menu).

The staff, dubbed “Worscht Dealers”, are more than willing to make recommendations to guests wishing to experiment. The many kinds of currywurst are served with French fries or freshly baked German-style sourdough bread. Chocolate milk, a traditional remedy for alleviating hot chili overdoses, is also available.

The “Best Worscht in Town” outlet is located in Terminal 1 in the Airport City Mall in Concourse A, one level above the regional train station at Frankfurt Airport. It will be open between 9 a.m. and 10 p.m.

Around 70 restaurants serve passengers and visitors daily at Frankfurt Airport. More information on the wide range of services available there can be found on the airport’swebsite, in its Service Shop, and on its Twitter, Facebook, Instagram and YouTube social media pages.

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Fraport Traffic Figures March and First Quarter of 2019: Growth Trend Continues

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Fraport

Passenger traffic rises at Frankfurt Airport – Fraport’s Group
airports worldwide largely report positive performance
In the first three months of 2019, Frankfurt Airport (FRA) served
almost 14.8 million passengers – an increase of 2.5 percent
year-on-year. Aircraft movements rose by 3.0 percent to 116,581
takeoffs and landings. Accumulated maximum takeoff weights (MTOWs)
climbed by 2.9 percent to some 7.3 million metric tons. Only cargo
throughput (airfreight + airmail) declined by 2.3 percent to a total
of 527,151 metric tons, reflecting the worldwide economic slowdown.
In March 2019, Frankfurt Airport recorded year-on-year traffic growth
of 1.4 percent to about 5.6 million passengers. This increase was
achieved despite the fact that, in March last year, traffic was
additionally boosted by the earlier timing of the Easter school
holidays, falling in April this year. Aircraft movements climbed by
2.1 percent to 42,056 takeoffs and landings, while accumulated MTOWs
grew by 2.8 percent to about 2.6 million metric tons. Cargo
throughput remained almost level compared to March 2018, rising by
0.2 percent to 202,452 metric tons.
Across the Group, the airports in Fraport’s international portfolio
largely performed well in the first quarter of 2019, even though the
different timing of the Easter holidays had an impact on some
airports serving tourist destinations. Ljubljana Airport (LJU) in
Slovenia closed the January-to-March period with an increase of 4.0
percent to 342,636 passengers (March 2019: up 3.0 percent to 133,641
passengers). In Brazil, the two airports of Fortaleza (FOR) and Porto
Alegre (POA), combined, welcomed some 3.9 million passengers, posting
a gain of 11.9 percent (March 2019: up 8.3 percent to approximately
1.2 million passengers).
Fraport’s 14 Greek regional airports served some 1.9 million
passengers overall in the first quarter of the year – an increase of
8.2 percent (March 2019: up 1.1 percent to a total of 713,045
passengers). The busiest airports in Fraport’s Greek portfolio
included Thessaloniki (SKG) with around 1.2 million passengers (up
20.3 percent), Chania (CHQ) on the island of Crete with 153,225
passengers (down 0.4 percent), and Rhodes (RHO) with 151,493
passengers (down 18.1 percent).
Lima Airport (LIM) in Peru advanced by 3.7 percent to some 5.5
million passengers (March 2019: up 2.2 percent to about 1.8 million
passengers). Combined traffic at the two airports of Varna (VAR) and
Burgas (BOJ) on the Bulgarian Black Sea coast slipped by 5.8 percent
to 203,606 passengers (March 2019: down 9.9 percent to 74,102
passengers). Antalya Airport (AYT) in Turkey posted a 5.8 percent
gain to more than 2.7 million passengers (March 2019: down 0.1
percent to nearly 1.1 million passengers). St. Petersburg’s Pulkovo
Airport (LED) in Russia grew by 14.7 percent to about 3.6 million
passengers (March 2019: up 16.3 percent to approximately 1.3 million
passengers). Almost 11.3 million passengers passed through Xi’an
Airport (XIY) in China in the first three months of the year,
representing an increase of 8.0 percent (March 2019: up 3.7 percent
to nearly 3.8 million passengers).

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