Fraport Interim Report - Nine Months 2010: Satisfying Business Development During January to SeptemberBy Fraport Ag, PRNE
Wednesday, November 3, 2010
Fraport Emerges Steadily From the Crisis and Expects Continuing Growth - Full-year 2010 Forecast Increases
FRANKFURT, Germany, November 4, 2010 - Fraport AG has left the economic crisis well behind and
continues to record increasing traffic volumes. In the first nine months of
2010 the company's Frankfurt Airport (FRA) home base welcomed some 40 million
passengers, despite extraordinary disruptions to airport operations caused by
strong winter weather, the pilot strike and the multi-day volcanic ash
crisis. Thus, FRA reported a four percent jump in passenger traffic from
January-to-September 2010 compared to the same period last year.
Nearly 69 million passengers - an increase of 8.8 percent
year-on-year - used the Fraport Group's majority-owned airports of Antalya
(AYT), Burgas (BOJ), Frankfurt (FRA), Lima (LIM), and Varna (VAR) in the
first nine months of 2010. The majority of the Group's passenger growth came
from AYT (up 18.6 percent) and LIM (up 15.5 percent).
Fraport's financial figures also reflect this traffic
increase. In the first three quarters of 2010, Fraport's revenue rose by
approximately 8.5 percent to EUR1.64 billion. Operating results or EBITDA
(earnings before interest, tax, depreciation and amortization) surged by more
than 24 percent to about EUR567 million and net profit rose by well over
one-quarter to about EUR162 million. The strong third quarter contributed
significantly to this positive development. Frankfurt Airport achieved its
best quarterly traffic results ever: with the passenger volume rising by 8.2
percent to 15.6 million and maximum takeoff weights (MTOWs) increasing by 6.3
percent to 7.6 million metric tons during July to September 2010. The EBITDA
margin reached 42 percent. Despite slightly higher depreciation, Group profit
climbed by about EUR50 million to EUR109.6 million - an increase of about 76
Presenting the 2010 nine-month traffic and financial results,
Fraport executive board chairman Dr. Stefan Schulte explained that the
company's external business - particularly, the strong growth at Lima and
Antalya airports - accounted for approximately two-thirds of the EBITDA
Overall, Schulte expressed satisfaction with Fraport's
business development this year to date: "During the first three quarters of
this year we have already exceeded the operating result and net profit of the
entire 2009 financial year. Because of the ongoing positive business
development, we have raised our full-year 2010 forecast. We now expect FRA's
passenger traffic to grow by well over four percent and Fraport's operating
result to hit about EUR700 million - versus about EUR570 million in 2009 -
and, as announced after the first half, we expect net profit to reach some
EUR152 million, despite the high investment volume compared to last year's
This forecast is supported by the continuing strong
development in air traffic. For example, preliminary figures for the
just-completed month of October 2010 indicate that FRA's passenger figures
rose by 8.5 percent. Cumulative figures for the January-to-October 2010
period show that FRA's passenger volume climbed by 4.4 percent year-on-year.
For the new Frankfurt Airport Winter Timetable 2010/2011, airlines have
increased their demand for slots (takeoff and landing rights) by 3.9 percent
- whereby the number of seats being offered for the winter schedule has
climbed by 6.4 percent.
In conclusion, Schulte gave an optimistic outlook regarding
further capacity expansion at FRA. Currently, the airlines are not only using
every available slot in the schedule for new connections but they are also
deploying larger aircraft. "Frankfurt Airport's new Runway Northwest will be
inaugurated at the end of October 2011. This capacity expansion will secure
our future competitiveness and will offer the airlines new growth
opportunities at Frankfurt Airport," stressed Schulte.
To meet the corresponding challenges, Frankfurt Airport is
moving full-speed ahead to handle the expected growth in traffic volumes with
the usual precision. Thus, the number of security control stations in the
terminals will be expanded by about 25 percent to almost 80 stations. "We
will also be offering more jobs. On the basis of current plans, we expect at
least 600 new jobs to be added at FRA in the coming year," said Schulte.
Note to Editors:
Fraport AG's interim report for the first nine months of 2010
(first three quarters) is available via www.fraport.com (see Investor
Relations section of our Web site), along with other related information.
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, Federal Republic of Germany Tel.: +49-69-690-78547; Fax: +49-69-690-55071; E-mail: email@example.com; Internet: www.fraport.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, Federal Republic of Germany, Tel.: +49-69-690-78547; Fax: +49-69-690-55071; E-mail: r.payne at fraport.de .
Tags: Frankfurt, Fraport AG, Germany, November 4