Welcome!

News Feed Item

Fiscal Year 2013 / Fraport Successfully Meets Expectations in a Difficult Business Environment

FRANKFURT, Germany, March 7, 2014 /PRNewswire/ --

Growth in Passenger Traffic, Revenue and Operating Profit - Dividend of €1.25 to Be Recommended Again - CEO Schulte Provides Positive Outlook for 2014

Despite a difficult business environment, the Fraport Group successfully met its targets in the 2013 business year - thanks to higher-than-expected growth in passenger traffic at Frankfurt Airport and positive development of its key financial figures.  Revenue climbed by 4.9 percent to €2.56 billion, while the Group's operating profit (EBITDA - earnings before interest, tax, depreciation and amortization) rose to some €880 million, up 3.7 percent.  In line with the forecast set out at the beginning of fiscal year 2013, the Group result declined by some €16 million year-on-year to approximately €236 million.  This was due, among other things, to the non-recurrence of high one-off gains from the Group's financial asset management achieved in fiscal year 2012.

A dividend of €1.25 per share will again be recommended at the upcoming Fraport AGM (Annual General Meeting) in late May. This would represent a dividend payout ratio of about 52 percent of the Group result attributable to shareholders.

At the Fraport Group's Frankfurt Airport (FRA) home base, passenger figures rose by almost 1 percent (+0.9 percent) to more than 58 million.  Cargo traffic at FRA also developed positively, rising by 1.4 percent to almost 2.1 million metric tons. Overall, Fraport's majority-owned Group airports welcomed more than 103 million passengers in 2013 - an increase of 4.1 percent.

Commenting on the Group's business performance in 2013, Fraport AG executive board chairman Dr. Stefan Schulte said: "Despite difficult framework conditions, our company performed well during the 2013 business year.  After a difficult start with declining passenger traffic at Frankfurt Airport, the favorable summer season and positive booking numbers during the last months of the year provided the necessary momentum to obtain a positive overall result.  Our international Group airports also performed strongly again in 2013.  In this segment, we paved the way in 2013 for future organic growth by opening new terminals in St. Petersburg, Russia, as well as in Varna and Burgas on the Bulgarian Black Sea coast.  All three airports are now provided with the necessary capacity to accommodate the expected traffic growth."

In the Aviation business segment, passenger growth and higher revenue from airport charges resulted in a continuous increase in the segment's revenue to approximately €845 million, up 2.6 percent.  Segment EBITDA grew by 1.7 percent to about €205 million.

Fraport's Retail & Real Estate business segment scored a 3.6 percent increase in revenue to €469 million, with EBITDA rising by 4.6 percent to some €351 million.  The key performance indicator "net retail revenue per passenger" improved from €3.32 to €3.60.

Revenue in the Ground Handling business segment edged up by 1.1 percent to just over €656 million. The segment's EBITDA also grew by 1.1 percent, to some €38 million.

The External Activities & Services business segment continued to contribute positively to the Group's overall result - reflecting the ongoing growth trend particularly at Fraport's Group airports in Lima, Peru, and Antalya, Turkey. Revenue in this segment jumped 14.4 percent to €591 million, while the segment's EBITDA increased by 4.4 percent to some €286 million.

Confirming the company's outlook for the current year, Fraport CEO Schulte said: "The air transport industry in Europe continues to operate in a highly competitive environment, and we expect 2014 to be another challenging year also for Fraport.  Nevertheless, we are positive about the outlook for our company in the current business year.  We expect passenger figures to rise by two to three percent at our Frankfurt Airport home base and the dynamic trend to continue also at our other Group airports."

Due to a change in accounting standards effective January 1, 2014, it is no longer permitted to recognize interests in joint ventures using proportionate consolidation.  This change will particularly affect Fraport's interest in Antalya Airport.  From 2014, Antalya Airport's net profit will be recognized in the financial result within Fraport's consolidated income statement.  This will have an impact on the Group's reported financial figures for fiscal year 2014.

Based on the traffic outlook, Fraport expects Group revenue to rise to up to about €2.45 billion in 2014 - an increase compared to 2013, when a value of approximately €2.38 billion was achieved, if adjusted to the new accounting standards for comparison purposes.  The Group EBITDA is expected to reach a level between approximately €780 million and some €800 million in 2014 (adjusted value for 2013: around €733 million), while the Group EBIT is forecast to reach up to approximately €500 million (adjusted value for 2013: €439 million).

Thus, the EBITDA and EBIT outlook for 2014 exceeds the value reached in 2013 (if adjusted for comparison purposes) by around €40 million to €60 million. Revenue is forecast to rise by approximately €70 million on the adjusted 2013 value.  The Group result is not affected by the new accounting standards and is expected to see a slight increase compared to fiscal year 2013.

For Further Information, Please Contact:

Fraport AG Frankfurt Airport Services Worldwide
Robert A. Payne - International Spokesman; Head of International Press & External Activities Team, Press Office (UKM-PS), Corporate Communications, 60547 Frankfurt, Germany; Tel.: +49-69-690-78547; E-mail: [email protected]; Internet: http://www.fraport.com;  

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...