Fraport AG

Fraport Interim Report - Nine Months 2013: Fraport AG Presents Financial Results for the First Three Quarters of the Year

Frankfurt (ots) - Revenue and EBITDA Both Rise by 5 Percent - Group Result Declines as Expected - Traffic and Financial Outlook for 2013 Remains Unchanged

Fraport AG, the owner and manager of Frankfurt Airport (FRA), achieved revenue of about EUR1.95 billion during the first three quarters of 2013 - an increase of EUR 95.2 million or 5.1 percent year-on-year. The Group's operational result (EBITDA - earnings before interest, tax, depreciation and amortization) increased by EUR 32.7 million or 4.9 percent to EUR 706.2 million. As expected, the Group result declined by EUR25.6 million or 10.6 percent to EUR 216 million. This was largely due to the non-recurrence of the previous year's gains in connection with the disposal of financial assets as part of the Group's asset management and associated currency effects. Correspondingly, basic earnings per share also dropped by EUR0.30 or 12.0 percent to EUR 2.19. In contrast, free cash flow - triggered by a low investment volume and a positive operational performance - soared significantly by EUR 148.4 million to EUR 72.1 million, up from minus EUR 76.3 million during the same period last year.

Commenting on the Group's nine-month results, Fraport AG executive board chairman Dr. Stefan Schulte said: "Business performance in the first three quarters of 2013 was in line with our outlook, reflecting only moderate economic growth and a business environment lacking momentum and showing no clear signs of recovery, particularly in the euro zone."

Because of a strong summer season, FRA's passenger figures rose slightly by 0.2 percent to 44.2 million during for the first nine months of 2013. Thus, this helped FRA to overcome the leap-year effect (one day less in 2013) and a reduction in the number of flights offered by some airlines, which caused a one percent slide in passenger traffic during the first half of 2013. FRA's cargo volume in the first nine months of 2013 grew by 0.7 percent to about 1.57 million metric tons year-on-year.

The main growth drivers for the Fraport Group's majority-owned airports were Lima Airport (LIM) in Peru and Antalya Airport (AYT) in Turkey - which saw passenger traffic surge by 12.2 percent and 6.6 percent respectively. Across the Group, the total number of passengers climbed by 3.6 percent to almost 81 million. Combined, the Fraport Group's majority-owned airports recorded a 0.8 percent rise in cargo throughput to more than 1.75 million metric tons from January to September 2013. The positive performance of the Group's majority-owned airports also benefited Fraport's External Activities & Services business segment, which achieved a 16.5 percent or EUR 65.8 million revenue gain to EUR 464 million for the first three quarters of 2013.

At Fraport AG's Aviation business segment, revenue improved by EUR 13.3 million or 2.1 percent in the first nine months of 2013 to EUR 641.7 million year-on-year. With only a moderate rise in passenger figures, growth in this segment can be mainly attributed to the 2.9 percent increase on average in aviation charges at Frankfurt Airport. Despite FRA's lower accumulated maximum takeoff weights (MTOWs), revenue at Fraport's Ground Handling business segment edged forward by 0.7 percent or EUR 3.5 million to EUR 496.5 million due to price effects for infrastructure charges.

Revenue at Fraport's Retail and Real Estate business segment grew by 3.8 percent or EUR12.6 million to EUR 347.2 million - with the "net retail revenue per passenger" key performance indicator climbing by 10.3 percent to EUR3.44. In particular, the new Pier A-Plus had a positive effect on revenue growth in this segment. Moreover, the new pier also contributed to further increasing FRA's punctuality rate and overall service quality. Underlining the benefits of the new pier which opened at Terminal 1 just over a year ago, Schulte said: "Pier A-Plus represents a quantum leap for the passenger experience at Frankfurt Airport. Boasting an energy-efficient building design and high standards of passenger comfort, Pier A-Plus has been very well accepted by our customers."

In September 2013, Fraport submitted a request for a building permit for the future Terminal 3 project to be built on the southern side of Frankfurt Airport. Thus, the airport company is continuing to invest in FRA's infrastructure and is creating the prerequisites for FRA to serve the forecast traffic growth over the long-term.

For the FRA Winter Timetable 2013/14, Fraport expects a rise in the total number of seats offered per week, despite fewer flight frequencies, because airlines are deploying larger aircraft with expanded passenger capacity.

Schulte further stated that Fraport AG's executive board is maintaining its traffic and financial outlook for the full year 2013. Passenger figures at Frankfurt Airport are expected to remain almost unchanged from the previous year's level. The operational result before interest, tax, depreciation and amortization (EBITDA) is expected to reach between EUR 870 million and EUR 890 million, while the Group result is projected to remain below the level of 2012.

The Fraport Group Interim Report for January 1 to September 30, 2013, is available for viewing and downloading via the following link:

For Further Information, Please Contact:

Fraport AG Frankfurt Airport Services Worldwide
Robert A. Payne, B.A.A. - International Spokesman and Head of
International Press & External
Activities Team, Press Office (UKM-PS), Corporate Communications,
60547 Frankfurt, Germany;
Tel.: +49 69.690.78547;

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