Fraport AG Reports Strong Traffic and Financial ResultsBy Fraport Ag, PRNE
Thursday, March 10, 2011
Annual Results for 2010 Announced/ Capacity Expansion and Service Enhancement Key Topics for 2011
FRANKFURT, Germany, March 11, 2011 - The traffic and financial results for 2010, which
Fraport AG - the owner and manager of Frankfurt Airport - announced on
Friday, clearly reflect the recent growth momentum. At Frankfurt Airport
(FRA), both passenger figures and cargo volume have increased significantly.
With 2.23 million metric tons, Frankfurt Airport handled more cargo than ever
before. This corresponds to an increase of 21.5 percent.
Passenger figures, too, showed a noticeable increase of 4.1
percent despite the volcanic ash cloud, airline industrial action and two
major disruptions caused by unexpectedly severe winter weather at the
beginning and the end of the year. Frankfurt Airport welcomed a total of more
than 53 million passengers. Fraport's five majority-owned airports (including
FRA) handled a total of 88.6 million passengers, a year-on-year increase of
"The financial result for 2010 has been the best in the
company's history," underlined Fraport AG's executive board chairman Dr.
Stefan Schulte on Friday at the company's annual press conference for the
fiscal year 2010. "The operating result (EBITDA - earnings before interest,
tax, depreciation and amortization) noticeably jumped to about EUR711
million, surpassing even the 2008 record of around EUR601 million. Fraport
AG's Group profit reached approximately EUR272 million, outpacing the 2007
record figure of around EUR228 million by almost 19 percent," stressed Dr.
The positive development results - as Dr. Schulte explained
-from last year's surprisingly strong recovery of the global economy and from
the excellent performance of the Group's investment airports around the
world. "We withstood the financial and economic crisis of the past few years,
we have done our homework and - thanks to our capacity expansion projects -
we are now fully on track," said Dr. Schulte underlining Fraport AG's strong
2010 performance. The new Runway Northwest, for example, will be completed
within budget and on time for the winter timetable 2011/12.
The expanded capacity resulting from the new runway will allow
for a gradual increase in aircraft movements. Eight additional aircraft
movements per hour are scheduled for the winter timetable 2011/12. The
corresponding slots will be allocated by the German Airport Coordinator
according to international rules
and regulations. The Pier A-Plus terminal extension project,
which is scheduled to be completed by July 2012, will increase Terminal 1's
capacity by six million passengers per year. The new Pier A-Plus will also
increase FRA's retail space by a third, adding some 12,000 square meters
airside for new shops and restaurants.
"Operational growth at Frankfurt Airport also has a positive
effect on the number of employees," Dr. Schulte further explained. The
company is currently recruiting 2,000 new employees for operative positions,
such as for ground handling services or at the security checks, as well as
business managers, engineers, planners and technical experts to be employed
in the airport's future infrastructure development projects.
The volume of orders placed by Fraport AG in 2010 reached more
than EUR940 million. Thus, Fraport AG once again contributed significantly to
secure jobs and to fill the order books of companies located mainly in the
Frankfurt/Rhine-Main region. The volume of orders placed with local companies
amounted to more than EUR605 million and accounted for 64 percent of all
orders. Considering the fact that 90 percent of these orders had a value of
less than EUR10,000, it becomes obvious - as Dr. Schulte pointed out - that
small and medium-sized enterprises in particular benefited from this
development at FRA.
Dr. Schulte made special mention of Fraport AG's external business, which
today accounts for 20 percent of the Group's revenue and for about 34 percent
of its EBITDA. "Our investment airports in Lima and Antalya have been showing
double-digit growth rates for several years now. Lima is our showcase for
South America, where we will also make a bid if, for example, airports in
Brazil become privatized," said Dr. Schulte. With 8.4 million passengers
handled in 2010, St. Petersburg's Pulkovo Airport - which Fraport AG has been
managing since last year - also registered year-on-year passenger growth of
more than 24 percent.
Also the "Great to Have You Here" program, which was launched
at Frankfurt Airport last year to enhance passenger service, is progressing
well. Since the middle of last year, the number of security checkpoints has
been raised by 25 percent. The measure has proved successful, as the average
waiting time at FRA's security checkpoints has been reduced to less than 10
minutes. To enhance the passengers' travel experience at FRA, additional and
more comfortable resting and waiting areas have been created. Passenger
information has also been improved by installing more user-friendly
information kiosks and by deploying additional service assistants.
Key measures to be implemented this year include: free
E-shuttle carts to shorten the travelling distances between the gates,
shuttle services between Concourses A and C for transfer passengers with a
time-critical connecting flight, newly designed and fully illuminated
signage, the redevelopment of Terminal 1's forecourt as well as more
playgrounds for children. The airport's de-icing capacity will also be
increased and Winter Services will be equipped with two additional fleets of
snow removal vehicles.
"2011 will be a pivotal year for the development of Frankfurt
Airport," explained Dr. Schulte. "On the one hand, we are celebrating the
airport's 75th anniversary. Flight operations at the current Frankfurt
airport location date back to 1936. On the other hand, FRA's capacity
expansion will mark a new chapter in the growth of the airport. Thus, the
year 2011 will be a vital link between the past and the future."
For 2011, Schulte expects passenger traffic at FRA to grow by
four to seven percent. Revenue is expected to increase to more than EUR2.3
billion, while EBITDA could rise by 10 to 15 percent. Because of the Group's
good performance in 2010, Fraport AG's executive and supervisory boards will
recommend to the annual general meeting (AGM) on June 1, 2011, that the
dividend be raised by EUR0.10 to EUR1.25 per share.
Print-quality photos of Frankfurt Airport and Fraport AG are
available free for downloading via the Internet at www.fraport.com
(Menu: select Press Center > then Photo Service). For TV news and information
broadcasting purposes only, we also offer free footage material for
downloading via fraport.cms-gomex.com.
For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide Robert A. Payne, B.A.A. - Senior Mgr. International Press & PR International Spokesman, Press Office (Dept. UKM-PS), Corporate Communications, 60547 Frankfurt am Main, Germany Tel.: +49-69-690-78547; E-mail: email@example.com; mailto:firstname.lastname@example.org;
For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide, Robert A. Payne, B.A.A. - Senior Mgr. International Press & PR, International Spokesman, Press Office (Dept. UKM-PS), Corporate Communications, 60547 Frankfurt am Main, Germany, Tel.: +49-69-690-78547; E-mail: r.payne at fraport.de. mailto:r.payne at fraport.de
Tags: Frankfurt, Fraport AG, Germany, March 11