Fraport achieves positive result despite challenging business environment

The Fraport Group closed fiscal year 2015 successfully with a 2.5% rise in passenger traffic – serving 61 million at its Frankfurt Airport (FRA) home base – as well as a significant increase in its key financial figures. Group revenue climbed 8.4% year-on-year to €2.58bn (adjusted for IFRIC 12). The Group’s operating profit (EBITDA) increased by 7.4% to €848.8m, while EBIT climbed by 7.8% to €520.5m. The Group result advanced significantly by 18.0% to €297m. Operating cash flow also climbed by 28.8% to €652.2m, while free cash flow soared even higher by 59.5% to €393.6m. After an increase in the dividend for fiscal year 2014, a dividend proposal at the previous year’s level of €1.35 per share will be made to the Annual General Meeting this year. This corresponds to a dividend payout ratio of 45.1% of the Group result attributable to shareholders.
The positive business performance was mainly due to passenger growth at Frankfurt Airport, combined with considerably higher retail and parking revenues. Net retail income per passenger was up €0.19 or 5.5% year-on-year, rising to €3.62 in 2015. Also Fraport AG’s global activities outside Frankfurt largely contributed to the noticeable increase in the Group’s financial result. This was attributable to the first-time full consolidation of the two new Group subsidiaries, AMU Holding (U.S.A.) and Aerodrom Ljubljana (Slovenia), which had been acquired during the year 2014, as well as the ongoing excellent performance of the Group’s Lima Airport subsidiary (Peru), which was additionally boosted by the relative weakness of the euro against the U.S. dollar. The ground-breaking ceremony for the future Terminal 3 at Frankfurt Airport and the signing of the concession contracts for the operation of 14 regional airports in Greece represented significant events in the past year.