Annual General Meeting 2013 Fraport's Fiscal Year 2012 Met Expectations in a Challenging Environment
FRANKFURT, Germany, May 31, 2013 /PRNewswire/ --
Dividend Proposed to Remain at €1.25 per Share / Fraport CEO Schulte: "New Pier A-Plus Is Milestone for Enhancing the Passenger Experience and Making Transfers Easier"
Speaking at Fraport AG's 12th Annual General Meeting (AGM) on Friday, May 31, in Frankfurt-Höchst, Fraport AG executive board chairman Dr. Stefan Schulte reported that fiscal year 2012 met expectations despite challenging times for the air transportation industry. "The ongoing European debt crisis, along with business and consumer uncertainty, influenced air travel demand. This caused airlines to reduce services from their flight schedules. Nevertheless, Frankfurt Airport (FRA) maintained its position in terms of growing passenger numbers compared to other European airports. Also on the financial side, we met the expectations forecast in 2012," stressed Schulte.
Fraport's majority-owned airports served almost 100 million passengers in 2012, an increase of 2.9 percent or 2.8 million passengers year-on-year. At Fraport's Frankfurt home base, passenger numbers grew by 1.1 million to 57.5 million (up 1.9
percent). Schulte also presented positive financial results for 2012. Fraport's revenue rose by three percent to €2.4 billion, while EBITDA (earnings before interest, tax, depreciation and amortization) climbed by six percent to €850.7 million.
As expected, Fraport's Group result of €251.6 million (up 0.3 percent) reached the same level as in 2011 - due to large investments at FRA and the resulting depreciation and financing costs. Schulte explained: "We are implementing a comprehensive program for expanding the capacity of Frankfurt Airport. The new Runway Northwest and A-Plus terminal expansion, as well as our future Terminal 3 project, are initiatives that are preparing FRA to meet the expected growth in air traffic."
Hence, Schulte reiterated the expectations of the Fraport executive board: The traffic volume at Germany's biggest airport will continue to climb in the medium term. "From time to time, aviation has experienced temporary traffic downturns. But history also shows that these consolidation phases are followed by a resurgent stronger industry. All forecasts indicate that the worldwide demand for mobility in the air transportation industry will continue to grow." Regarding construction of Terminal 3, Schulte added: "We will provide new passenger facilities when our customers need them - which will probably start around 2020. Thus, we are planning to commence construction of Terminal 3 in 2015."
Fraport's CEO emphasized the inauguration of FRA's new A-Plus terminal expansion, calling it a milestone for enhancing the passenger experience and making transfers easer. The Frankfurt Airport company invested some €700 million for the new pier and its corresponding aircraft apron area. Opened in October 2012, Pier A-Plus has been well received by passengers and the airlines. Overall passenger satisfaction at FRA has increased steadily since 2010, which Schulte says can also be attributed to Fraport's "Great to Have You Here!" quality service program.
Skytrax, the renowned market research institute, recently honored Frankfurt Airport with its "World's Most Improved Airport" award. On behalf of the entire executive board, Schulte thanked all Fraport employees for their dedication and excellence, which made it possible for FRA to receive this prestigious Skytrax award.
In his AGM presentation, Schulte also talked about measures being taken to reduce noise emissions around Frankfurt Airport. In 2012, the Alliance for More Noise Abatement - founded by major aviation partners at FRA along with the Hessian State government - launched a series of outstanding measures which are unprecedented in Europe. To date, 10 out of 19 of the Alliance's active noise abatement measures have already been implemented, so that people living close to Frankfurt Airport are less affected by aircraft noise. "Our goal is to achieve a
reasonable balance between the economic requirements of our region and the quality of life for residents. Therefore, we regard our commitment to noise abatement as an ongoing responsibility, which we will continue working on intensively," stressed Schulte.
For the 2013 business year, Fraport anticipates passenger traffic at FRA to remain at about the same level as last year. For the Group's other majority-owned airports outside of Frankfurt, Fraport expects passenger growth to continue. Fraport forecasts Group EBITDA to be between €870 million and €890 million and the Group result to be below the previous year's level.
Fraport AG's executive and supervisory boards will recommend to the shareholders a dividend of €1.25 per share once again for fiscal year 2012.
For Further Information, Please Contact:
Fraport AG Frankfurt Airport Services Worldwide
Robert A. Payne, B.A.A. - International Spokesman and Head of International Press/PR & 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
SOURCE Fraport AG
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