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
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...