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Fraport Traffic Figures: Frankfurt Airport Reports Ongoing Growth

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Most of Fraport’s Group airports worldwide show a positive trend Frankfurt Airport (FRA) welcomed more than 6.9 million passengers inAugust 2019, an increase of 1.7 percent year-on-year. With 46,395 takeoffs and landings, FRA’s aircraft movements remained at the same level as in August 2018. Accumulated maximum takeoff weights (MTOWs) slightly expanded by 0.5 percent to nearly 2.9 million metric tons. Cargo throughput (airfreight + airmail), in contrast, shrank by 5.2 percent to 173,122 metric tons – reflecting the decline in global trade.

The majority of airports in Fraport’s international portfolio showed a positive trend in the reporting month. Ljubljana Airport (LJU) in Slovenia grew by 4.5 percent to 211,431 passengers. Fraport’s two Brazilian airports in Fortaleza (FOR) and Porto Alegre (POA), combined, registered a 3.8 percent dip in traffic to nearly 1.3 million passengers. This decrease can still be attributed to the bankruptcy of domestic carrier Avianca Brasil and to the country’s ongoing economic slowdown.

At Peru’s Lima Airport (LIM), traffic advanced by 6.6 percent to some 2.2 million passengers. Overall traffic at Fraport’s 14 Greek airports increased slightly by 1.1 percent to around 5.5 million passengers. The Bulgarian airports of Varna (VAR) and Burgas (BOJ) continued to be affected by the consolidation of flight offerings, which resulted in traffic dropping by 9.0 percent to about 1.3  million passengers, overall.

Antalya Airport (AYT) on the Turkish Riviera maintained its growth path, with traffic soaring by 13.7 percent to nearly 5.6 million passengers. Traffic also advanced in St. Petersburg (LED), Russia, rising by 5.8 percent to over 2.2 million passengers. Xi’an Airport (XIY) in China posted a 5.9 percent gain to about 4.4 million passengers.

MEDIA CONTACT: Fraport AG, Dana Selin Kröll, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail: [email protected]  

Italian Exhibition Group: Board of Directors approves half-yearly financial report

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The Board of Directors of Italian Exhibition Group S.p.A (IEG), a company listed last June on the Milan Stock Exchange organized and managed by Borsa Italiana S.p.A., approved, on today’s date, the half-yearly financial report as at June 30, 2019.

Main consolidated results in the first half of 2019

The total revenues of the IEG Group amounted to € 99,932 thousand, growth of 29.3% over the € 77,309 thousand in the same period of the previous year. This result augments the significant growth already recorded at the end of 2018 (+ 22% over the previous year) and confirms IEG’s ability in development and integration projects.

EBITDA1 , following the application of IFRS 16, which generated a positive effect of approximately € 1.9 million, and EBIT reached € 26,575 thousand and € 17,691 thousand respectively, growth compared to the 2018 values, which did not reflect the effects of IFRS 16, which stood at € 17,039 and € 11,801 thousand respectively.

Without taking account of the effects of the aforementioned accounting standard, EBITDA1 and EBIT therefore recorded increases of + 44.8% and + 49.6% compared to the same period in the previous year, also confirming the further strengthening in the ability to manage operating costs and stabilise the efficiencies already achieved in the second part of the previous year.

The Group’s net result, albeit feeling the effects of the higher financial management expenses due to the application of IFRS 16 amounting to € 330 thousand and other expenses connected to the figurative payables from put options, stood at € 10,679 thousand, growth of 40.2% compared to € 7,618 thousand in the first half of 2018.

As at June 30th, 2019, the net cash financial situation, therefore without taking into account the higher payables of roughly € 32 million as a result of IFRS 16, financial payables for any future put options of € 15.8 million and derivative financial instruments for € 5.9 million, totalled € 66.5 million compared to € 66.9 million as at June 30th, 2018 and € 49.2 million as at December 31st, 2018. The latter increase is due primarily to the changes in Net Working Capital resulting from the seasonal cycle (around € 4.6 million), investments (€ 5.7 million) and the distribution of ordinary dividends which took place in May (€ 5.6 million).

The consolidated shareholders’ equity as at June 30th, 2019 came to approximately € 105.2 million, compared to € 102.5 million as at December 31st, 2018.

Results by business segment in the first half of 2019

The significant growth in revenues in the period derives from the positive results achieved by each business line and the increase of roughly € 22.6 million compared to the same period of the previous year is due to both the purely organic growth (up € 7.4 million equal to + 9.6%) and the change in the scope of consolidation. The latter takes account, for an amount of around € 15.2 million, of the revenues resulting from the acquisitions of stand fitting activities carried out last year (FB international in the US in March and Prostand – Colorcom in Italy in September 2018) and the arithmetic sum (with balance close to zero) of multiyear events or held in a different half from that of the previous year.

In particular, the Group’s “core business”, comprised of the direct organisation of trade show events, accounted for 53.7% of total revenues during the half, and recorded an increase of 6.6% compared to the previous year. This increase is attributable to the main leading products in the “Food & Beverage” and “Jewellery & Fashion” categories. The seasonal nature of the trade show calendar has a negligible impact and relates, in particular, to the Koinè event (biennial event in odd years) in February 2019.

The Convention Events business line, which accounts for 7.6% of total Group revenues, recorded an increase of 26% (up € 1.6 million) compared to the first half of 2018, thanks to the holding of larger conventions in terms of the number of participants, convention areas used and additional services required.

Revenues from related services, such as stand fitting activities, catering and cleaning, account for 35.2% of the Group’s total revenues and essentially doubled compared to the first half of the previous year (+97.8%). The growth in the revenues from catering services, driven by the development of trade show events organised and the management of new activities, was augmented by the higher revenues recorded in the event preparation services segment as a result of the already mentioned acquisitions.

Business outlook

The results achieved by IEG in the first half, although it should be noted that trade show and convention event activities are highly seasonal in nature, with the subsequent difficulty in comparing the various quarters of the year with one another, confirm the success of the organisational and management decisions made by the Company and allow the management to confirm the planned consolidation and growth objectives.

The Corporate Officer responsible for drafting the company’s accounting documents, Roberto Bondioli, hereby declares, pursuant to paragraph 2 of art. 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, the books and the accounting records.

The Half-yearly Financial Report as at June 30th, 2019, approved on today’s date by the Board of Directors of Italian Exhibition Group S.p.A., will be made available, together with the Independent Auditors’ Report, on the Company’s website www.iegexpo.it in the Investor Relations Section, as well as in the company’s registered office and on the authorised storage system 1INFO Storage available at the address www.1info.it managed by 1INFO – Computershare S.p.A. – Via Lorenzo Mascheroni 19, 20145 Milan.

The results of the first half of 2019 will be illustrated in a conference call with the Financial Community set for today at 17.30 (CET). The presentation will be available in the Investor Relations section of the website www.iegexpo.it from 17.15.

FOCUS ON ITALIAN EXHIBITION GROUP SPA

Italian Exhibition Group (IEG), listed on the Milan Stock Exchange organized and managed by Borsa Italiana S.p.A., is the Italian leader in the organization of trade expos and one of the main players in Europe in the expo and conference sector, with its venues in Rimini and Vicenza. The IEG Group stands out for the organization of events in five categories: Food & Beverage; Jewellery & Fashion; Tourism, Hospitality & Lifestyle; Wellness, Sports and Leisure; Green & Technology. In recent years, IEG has launched an important process of foreign expansion, also by means of joint ventures inked with local players (e.g. in the United States, Arab Emirates and China). IEG ended the 2018 financial year with a total consolidated turnover of 159.7 million euros, an EBITDA of 30.8 million and a net consolidated profit of 10.8 million euros. In 2018, IEG held an overall total of 53 exhibitions organized or hosted and 181 conferences events in its Rimini and Vicenza expo and conference venues.

MEDIA CONTACT: ITALIAN EXHIBITION GROUP S.P.A. Investor Relator Roberto Bondioli |[email protected] | +39 0541 744642 Press Contact Elisabetta Vitali |Head of media relations & corporate communication | [email protected] | +39 0541 744228

Sargassum Clean-up Costs Caribbean US$120 Million – Bartlett

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The unprecedented levels of sargassum seaweed that washed up on Caribbean beaches in 2018 resulted in estimated clean-up costs of US$120 million, according to Minister of Tourism and Co-Chair of the Global Tourism Resilience and Crisis Management Centre (GTRCM), Hon. Edmund Bartlett.

In addition to costly removal, tourism stakeholders have become increasingly concerned about the seaweed’s unsightly appearance, visitor complaints and the possibility of reputational damage, the Tourism Minister noted.

“As active stakeholders in the sector we understand the inestimable value of tourism to stable and prosperous Caribbean economies.  Tourism remains the single most important catalyst of sustained economic livelihoods in the region,” Minister Bartlett said in opening remarks at the GTRCM Roundtable on Sargassum today (July 26) at the University of the West Indies’ Region Headquarters, Mona.

The Caribbean is the most tourism-dependent region of the world, where it is the main economic sector in 16 out of 18 Caribbean states and supports close to 3 million jobs.

Noting forecasts of a 12% growth in tourist arrivals to the region for 2019, Minister Bartlett said, “Despite these promising indicators and its (tourism’s) historical resilience, we remain well aware that the tourism sector is very fragile and prone to disruptive elements.  The last ten years have witnessed an evolution of the threats facing the sector.  These threats have become more unpredictable and more devastating in their impact and certainly more difficult to manage.”

Sargassum is one such threat.  Accordingly, the GTRCM saw an urgent need to facilitate the coming together of regional tourism and environmental stakeholders to share ideas, best practices and possible solutions to the adverse effects sargassum in having on national and regional economies.

Sargassum Clean-up Costs Caribbean US$120 Million – Bartlett
Professor Lloyd Waller (left), Executive Director, Global Tourism Resilience and Crisis Management Centre (GTRCM); Professor Mona Webber, Director, Centre for Marine Sciences and Discovery Bay Marine Laboratory; and Minister of Tourism and GTRCM Co-Chair, Hon. Edmund Bartlett (right) discuss the sargassum threat to Caribbean tourism during the GTRCM Roundtable on Sargassum at the University of the West Indies Region Headquarters, Mona.

Since 2011, thick mats of seaweed have increased in density to generate an 8850-kilometer-long belt (weighing 20 million metric tons) known as the Great Atlantic Sargassum Belt that extends from West Africa to the Caribbean Sea and Gulf of Mexico. Scientists believe this algal explosion in the Atlantic Ocean and Caribbean Sea could signify a new normal. 

The sargassum phenomenon is believed to be driven by a combination of man-made and natural factors, including climate change and increased sea surface temperature; change in regional winds and ocean current patterns; and an increased supply of nutrients from rivers, sewage and nitrogen-based fertilizers.

In the open seas, sargassum provides critical habitats for marine and bird life.  However, when it inundates beaches it rots and smells, becoming an environmental and economic nuisance.  Tourism on Mexico’s Caribbean Coast dropped an estimated 35% in 2018 due to sargassum washing up on the 480-kilometer-long stretch of otherwise pristine beaches.

Minister Bartlett told local and overseas participants at the GTRCM Roundtable that a strong regional response at both the political and technical level is urgently required to address this rapidly evolving sargassum problem.

“The effective countering of this threat will require the different nations’ governments coming together to conduct research, mitigate contributing factors, identify global best practices in adaptation strategies and develop a comprehensive scientific initiative to establish the most efficient ways to collect the sargassum in the open sea without harming the ecosystem,” said the Tourism Minister.

Presentations were made by Andres Bisono Leon and Luke Grey, Massachusetts Institute of Technology (MIT) Precision Engineering Research Group; Professor Mona Webber, Director, Centre for Marine Sciences and Discovery Bay Marine Laboratory; and Marion Sutton, Oceanographer and Project Manager, Collecte Localisation Satellites, France.

MEDIA CONTACT:

Corporate Communications Division

Ministry of Tourism

64 Knutsford Boulevard

Kingston 5

Tel: 920-4926-30

Asia Pacific Tourism: 700 million international arrivals in 2018 and growing

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Asia Pacific destinations collectively received almost 700 million international visitor arrivals (IVAs) in 2018, an increase of 7.7% over the 2017 figure, according to PATA’s Annual Tourism Monitor 2019 Early Edition released today.

This report is the latest in a series that dates back to 1951 and, in this edition, covers 47 destinations across the Asia Pacific region. The data contained within this publication provides useful, practical data on traveller structure and movements and is an essential input into strategic, development and marketing plans for all suppliers to this significant contributor to the tourism economies of the Asia Pacific region.

Rising from an arrivals volume of just almost 562 million in 2014, the annual growth of visitors into and across the Asia Pacific region has increased consistently each year, peaking in 2018 at 699.6 million international arrivals.

The distribution of these arrivals has been relatively constant over the past five years, although marginally favoring Asia, largely at the expense of the Americas.

Within each of those destination regions there are differences across both individual destinations and at the sub-regional level. Between 2014 and 2018 for example, Southeast Asia gained 1.34 points of share in terms of IVAs into and across Asia Pacific, while North America lost 1.55 points of share.

There are several main indicators of particular interest at this level, particularly the top five destinations by volume of visitor arrivals in 2018. Clearly China was the number one destination for visitor arrivals, with close to 161 million in 2018. That alone represents 22.6% of the total visitor volume into and across Asia Pacific, in that year.

The remaining four destinations in this top five list cover North and Central America as well as Northeast and West Asia. Collectively, these top five destinations accounted for 54.8% of the total visitor arrivals into and across Asia Pacific in 2018.

A second destination indicator considers the top five destinations that received the most additional volume added to their respective inbound counts between 2017 and 2018.

This particular list is remarkably similar to the previous one, except that Mexico has been replaced by Macao, China. In total, 12 destinations of the 47 covered in this report had annual increases in excess of one million IVAs apiece between 2017 and 2018.

This top five group received a total of over 30 million additional arrivals between 2017 and 2018, which was just over 59% of the total net arrivals for Asia Pacific over this period.

A third indicator looks at the longer-term growth of Asia Pacific destinations, in particular, the top five destinations that showed the strongest percentage growth in arrivals between 2017 and 2018.

While the volume of arrivals varies greatly for most of these destinations, they are of particular interest given that annual growth is often a precursor to some significant tourism opportunities presenting themselves. Turkey in this regard, shows clearly how it is rebounding from the recent contractions in visitor arrivals, appearing in the top five lists by volume and annual growth rate.

So too with Nepal, which has been on a strong growth track for a number of consecutive years now and which received more than one million foreign arrivals in a single year for the first time ever, in 2018. Similarly, with Papua New Guinea which has rebounded strongly since 2016, growing its annual growth rate strongly since then.

Over the longer term – between 2014 and 2018 – it is interesting to see the top five destinations that received the most additional IVA volume added to their inbound counts over that period. China tops the list with over 34.2 million additional arrivals added to its inbound count, followed by Japan with a gain of close to 17.8 million IVAs over that period and then Thailand with almost 13.5 million additional IVAs.

Mexico and Vietnam close out that top five list with period increases of 12.1 million IVAs and more than 7.6 million.

In similar fashion, it is interesting to see which Asia Pacific destinations had the strongest average annual growth rates (AAGRs) between 2014 and 2018, as this metric can often (but not always) indicate a more continuous growth rate over time. It is obvious that Japan and Vietnam in particular have been expanding their foreign arrivals counts with some strength, given the AAGRS of almost 24% and 18% respectively. This is supported by the fact that both of those destinations also appear in the top five list of the increase in absolute numbers of arrivals between 2014 and 2018.

Interestingly, Nicaragua appears to have been performing well against this metric between 2014 and 2018, however that now seems to be all but unraveling, given the political issues being faced there at the moment.

In addition, and based on these top five AAGR results, Indonesia is certainly a destination to keep watching, as is Cyprus in West Asia.

PATA CEO Dr. Mario Hardy pointed out that, “across Asia Pacific, calendar year 2018 continued to demonstrate volatility in markets and destinations, some caused by external factors, including politics, but others by changes in consumer wants, needs and basic preferences.”

“While growth out of many traditional markets begins to waver or stagnate, at least into some destinations, newly emerging markets appear and offer opportunities for those agile enough to not only recognize them but also to be able to change their marketing and promotional efforts at a moment’s notice and capture those fleeting”, he added.

Dr Hardy concluded that, “everything continues to change, morph and evolve, but now it is happening at speeds unthought of just a decade ago. As an important global industry sector, we need to change even faster and get ahead of that curve, if we are to remain viable and significant into the future. To do that efficiently, like all industry sectors, we need faster and better information upon which to act, leveraged by technology. It is no longer ‘business as usual”.

Media Contact:

PATA Paul Pruangkarn
Director – Communications & External Affairs
+66 (02) 658-2000 | [email protected] | Bangkok, Thailand

Passenger volume climbs at Frankfurt and most of the Group airports

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Frankfurt Airport (FRA) welcomed more than six million passengers in
April 2019, a gain of 5.1 percent year-on-year. This noticeable
increase can also be attributed to the Easter traffic, which occurred
completely in April 2019 due to the later Easter holidays this year
(compared to 2018). FRA posted a 3.3 percent increase in total
passenger during the first four months of 2019.

Aircraft movements in April 2019 climbed slightly by 1.8 percent to
43,683 takeoffs and landings. Accumulated maximum takeoff weights
(MTOWs) rose by 1.6 percent to about 2.7 million metric tons. In
contrast, cargo throughput (airfreight + airmail) fell by 6.0 percent
to 178,342 metric tons – due to weaker global trade and the later
occurrence of the Easter holidays.

Most of the Group airports in Fraport’s international portfolio
recorded growth in April 2019. Traffic at Slovenia’s Ljubljana
Airport (LJU) remained almost unchanged, increasing by 0.1 percent to
157,992 passengers. With combined traffic of about 1.2 million
passengers, Fraport’s Brazilian airports in Fortaleza (FOR) and Porto
Alegre (POA) saw traffic climb by 12.1 percent.

The 14 Greek regional airports achieved a 7.2 percent jump in traffic
to a total of 1.4 million passengers. The busiest airports included:
Thessaloniki (SKG) with 523,498 passengers (up 0.3 percent), Rhodes
(RHO) with 228,921 passengers (up 16.3 percent); and Chania (CHQ)
with 168,911 passengers (down 12.9 percent).

Serving 1.8 million passengers, Peru’s Lima Airport (LIM) advanced by
7.3 percent in the reporting month. Bulgaria’s Burgas (BOJ) and Varna
(VAR) airports reported a 14.6 percent drop in traffic to 106,205
passengers. At the gateway to the Turkish Riviera, Antalya Airport
(AYT) received 2.2 million passengers, representing growth of 16.0
percent. Russia’s Pulkovo Airport in St. Petersburg’s (LED) grew by
6.0 percent to about 1.4 million passengers. Traffic at Xi’an
Airport (XIY) in central China reached 3.8 million passengers, up 4.0
percent.

MEDIA CONTACT: Torben Beckmann, Fraport AG, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail:  [email protected] , Facebook:  www.facebook.com/FrankfurtAirport