Fraport reports successful performance in 2014 driven by traffic growth

During the Annual General Meeting (AGM), Fraport AG’s executive board chairman (CEO), Dr. Stefan Schulte, informed the Group’s shareholders about the key financial figures and air traffic developments in fiscal 2014. The previous year saw worldwide rising demand for mobility, driven primarily by growing markets in Asia. Passenger figures in Europe also increased by more than 5%. “Frankfurt Airport also benefited from this positive momentum – achieving a new passenger record of nearly 60 million passengers last year, despite a high number of strike-related flight cancellations. With cargo volumes reaching 2.1 million metric tons, Frankfurt could maintain its position as the most important air cargo hub in Europe,” stated Schulte. Fraport AG’s positive financial performance in 2014 was mainly driven by passenger growth. While the Group’s underlying revenue increased by more than 3% to €2.38bn, the operating result or EBITDA (earnings before interest, tax, depreciation and amortization) improved by almost 8% to more than €790m. The increase in EBITDA can be attributed to lower expenses for Winter Services as well as energy and supply services at FRA, overall efficient cost management, and the positive performance of the Group’s international business. The Group result advanced about 7% to almost €252m. Fraport’s free cash flow grew by more than €210m to €247m.