Fraport Group Interim Report – To start with Half 2021: Visitors Rebounds Significantly

Passenger numbers soaring all through summer months vacation period – Expenditures decreased significantly – Fraport achieves optimistic Group end result many thanks to a person-off outcomes

FRANKFURT, Germany, Aug. 3, 2021 /PRNewswire/ — FRA/gk-rap –The enterprise general performance of the Fraport world wide airport enterprise continued to be impacted by the Covid-19 pandemic during the to start with six months of 2021. Adhering to a weak very first quarter, site visitors figures markedly picked up once more in the second quarter of 2021 throughout all of the Group’s airports throughout the world. For the very first time because the outbreak of the coronavirus pandemic, Fraport again obtained a favourable Group consequence (net income) in the reporting period of time – supported by mounting demand from customers and diminished costs, as effectively as a pandemic payment payment from the authorities.

Fraport AG’s CEO, Dr. Stefan Schulte, claimed: “The pandemic payment from the German and Condition of Hesse governments strengthens our equity foundation. This permits us to proceed our investments in local weather security and infrastructure advancement projects. At the similar time, we have lowered our expenditures considerably. For that reason, our running result is now back in the black all over again. Also thanks to our wide and assorted international airport portfolio the Fraport Team is perfectly positioned to profit from the expected recovery in air journey.”

Passenger targeted traffic rebounds noticeably

In June 2021, passenger figures at Fraport’s Frankfurt Airport (FRA) house base rebounded significantly – mounting by pretty much 200 per cent calendar year-on-yr to about 1.8 million travelers. Preliminary figures show that this pattern ongoing in July, with targeted traffic growing by some 116 % to about 2.8 million travellers. FRA’s passenger site visitors on peak times now reaches about 50 p.c of the amount registered during the pre-pandemic record 12 months of 2019.

Referring to the consequences of targeted traffic expansion and surges on airport operations, CEO Schulte described: “The sharp raise in targeted traffic is triggering operational worries for Frankfurt Airport, simply because traffic is seriously concentrated through numerous peak moments of the day. In addition, the existing anti-Covid steps require noticeably extra time and assets for terminal processes and plane ground-handling functions. Working carefully with our partners, we are continually boosting processes, though adapting our capacities to fluctuations in demand.”

In spite of the optimistic pattern viewed in the final number of weeks, FRA continue to registered an total targeted visitors drop of 46.6 % calendar year-on-year to approximately 6.5 million travellers for the total January-to-June 2021 interval. This is thanks to the actuality that, for the duration of the very same 6-month period of time past year, the Covid-19 pandemic only began to have a strong unfavorable influence on traffic from mid-March 2020 onward. Compared to the file figures obtained in the to start with 50 % of pre-pandemic 2019, FRA even registered an 80.7 p.c fall in website traffic in 1st-50 % 2021. In contrast, Frankfurt Airport’s cargo throughput (airfreight + airmail) grew by 27.3 percent yr-on-yr to just about 1.2 million metric tons from January to June 2021 (up 9. percent in comparison to the identical period of time in 2019). At Fraport’s Team airports worldwide, visitors also grew noticeably yet again in June 2021, but over-all traffic for the initially half remained nicely below the preceding year’s stage.

Earnings decreases a little – Positive one-off results from government payment payments

Reflecting the in general traffic enhancement, Fraport’s Group profits lessened by 10.9 % to €810.9 million in the initial fifty percent of 2021. Changing for income from building relating to capacitive funds expenditure at Fraport’s subsidiaries around the world (dependent on IFRIC 12), Group earnings dropped by 8.9 p.c to €722.8 million. Fraport’s “other money” was positively afflicted by the settlement of the German and State of Hesse governments to grant Fraport compensation for retaining FRA’s operational readiness for the duration of the initially coronavirus lockdown in 2020. The full payment total of €159.8 million experienced a corresponding optimistic result on Team EBITDA. Fraport expects to receive the payment in the next fifty percent of 2021. This cash influx will then have a optimistic influence on the Group’s liquidity and web fiscal credit card debt.

Also the Greek parliament authorised payment to Fraport (below the concession arrangement) for the operational losses incurred in 2020 at the Group’s 14 Greek airports thanks to the pandemic. Specifically, the Greek State agreed to waive the preset concession fees for Fraport, primarily based on the amount of money of passenger visitors obtained. Moreover, Fraport was granted a temporary suspension of the payment of the variable concession cost. For the very first fifty percent of 2021, this translated into a beneficial influence of €69.7 million on Fraport’s other functioning cash flow and Group EBITDA.

In addition, an settlement reached in the 1st quarter 2021 concerning Fraport and the German Federal Law enforcement (Bundespolizei) on the remuneration of aviation safety services – furnished by Fraport in the earlier – generated revenue of €57.8 million, which positively impacted Group EBITDA by the very same quantity.

Functioning charges substantially minimized – Favourable Group outcome achieved

In watch of not long ago rising site visitors volumes, Fraport markedly reduced limited-time function for operational personnel at Frankfurt Airport (launched beneath Germany’s Kurzarbeit method in response to the pandemic). Airport infrastructure temporarily unused due to the pandemic has mainly been taken back into procedure – which include FRA’s Terminal 2. Despite these current actions, Fraport was even now capable to cut down total operating bills in Frankfurt via demanding value management by about 18 per cent in the very first half of 2021. At Fraport’s absolutely-consolidated Team firms worldwide, running expenses were being decreased by about 17 p.c in the reporting time period.

Supported by the just one-off outcomes from payment payments, Team EBITDA reached €335.3 million, exceeding final year’s 1st-50 percent EBITDA of €22.6 million by €312.7 million. Excluding these unique one-off consequences, the Group nevertheless accomplished a good operating result in the 1st 50 % of 2021.

Team EBIT arrived at €116.1 million in the reporting time period, up from minus €210.2 million in the 1st 50 % of 2020. The economical end result of minus €96.2 million remained pretty much level with the similar 1st 50 percent period of time past calendar year (H1/2020: minus €98.7 million). Even though the money outcome benefited from a substantial beneficial contribution of €35 million from at-Equity consolidated businesses, this could not offset the €37 million rise in curiosity expenses ensuing from increased financial liabilities.

Team EBT enhanced to €19.9 million in the initially half of 2021 (H1/2020: minus €308.9 million). The Group outcome or net profit greater to €15.4 million (H1/2020: minus €231.4 million).


With the summary of the initial half of 2021, Fraport’s govt board still expects passenger traffic at Frankfurt Airport to range from significantly less than 20 million to 25 million for the complete-yr 2021. In line with the preceding outlook, the Group airports in Fraport’s international portfolio are envisioned to see even more dynamic visitors recovery than Frankfurt. Team earnings is also still envisioned to achieve about €2 billion in 2021.

The pandemic payment payment of all over €160 million just lately granted by the German and State of Hesse governments was not provided in the prior outlook. Including this effect, the executive board now expects Team EBITDA for the whole calendar year to assortment between close to €460 million to €610 million (revised upward from amongst about €300 million to €450 million, as forecast in Fraport’s the 2020 Once-a-year Report). The payment will also have a constructive effect on Group EBIT, which was earlier envisioned to be somewhat detrimental but is now forecast to arrive at beneficial territory. Earlier forecast to be detrimental, the Team result (web financial gain) is now expected to be in the vary from marginally unfavorable to slightly optimistic.

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Fraport AG

Torben Beckmann
Corporate Communications
E-mail: [email protected]
Phone: +49 69 690-70553
60547 Frankfurt, Germany

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