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Preliminary Figures - Subject to Supervisory Board Approval: Fraport Fiscal Year 2009: Fraport AG Holds Steady Course for the Future Despite Economic Crisis

Dépèche transmise le 3 mars 2010 par PRNewswire

FRANKFURT, Germany, March 3, 2010 /PRNewswire/ -- "The best thing about last year's financial results is our outlook for 2010," said Fraport AG executive board chairman Dr. Stefan Schulte as he opened today's annual press conference for fiscal year 2009 and the outlook for 2010. "Meanwhile, we are optimistic that we have risen from the trough of decline following the extremely high traffic fall at the beginning of 2009, which gradually improved quarter by quarter," said Schulte.

According to Fraport's CEO, the first 21 days of February 2010 were still characterized by the growth momentum of the past weeks and particularly January 2010. However, the Lufthansa pilot strike at the end of last month noticeably depressed Frankfurt Airport's (FRA) February traffic statistics. Despite the tough winter weather, passenger traffic in January 2010 grew by 3.5 percent year-on-year. The growth in intercontinental flights was particularly noteworthy because this segment increased its share of total flights by 9 percent to 46 percent compared to January 2009. This segment also recorded noticeable over-proportional growth of up to 15 percent on Asian routes, reflecting stronger economic activity particularly in the Far East.

FRA's airfreight throughput jumped in January 2010 by 32.2 percent year-on-year to 157,637 metric tons - some 1,600 metric tons more than in the previous January record month of 2008. "We are doubly pleased by this bullish growth in airfreight, which is always an early indicator of economic performance: as a clear signal for the German economy as well as the world economy, and as a sign of the unchanging international division of labor," stressed Schulte. The growth trend in airfreight is expected to continue in February 2010.

Schulte considers the growth in traffic to be confirmation of the company's strategy during the past year to move ahead with Frankfurt Airport's future-oriented investment program despite the crisis. "Construction of the new Runway Northwest is on schedule and it will be inaugurated by the start of the 2011/12 Winter Timetable. Thus, the airlines - which have increasingly been demanding more takeoff and landing slots at Frankfurt - will finally be able to set a course for future growth," explained Fraport's CEO.

The difficult crisis year is reflected in the 2009 traffic figures. FRA welcomed approximately 51 million passengers last year, down 4.7 percent compared to 2008. Airfreight throughput declined by 10.1 percent year-on-year to more than 1.8 million metric tons. Airmail tonnage shrank by 11.3 percent to 80,174 metric tons. FRA registered a 4.7 percent decrease in aircraft movements to 463,111 takeoffs and landings in 2009. Maximum takeoff weights (MTOWs) weakened by 4.2 percent to 27,186,902 metric tons.

Fraport AG's Group revenue fell by 6.1 percent last year to some EUR1.97 billion. EBITDA (earnings before interest, tax, depreciation and amortization) declined by 8 percent and EBIT (earnings before interest and tax) by 19.2 percent to EUR290.4 million. Group profit reached EUR157.3 million, a decline of 20.1 percent. Correspondingly, basic earnings per share dropped by 20.8 percent to EUR1.64.

"But 2009 was also a year for setting a fundamental and positive course for the company's future," Schulte pointed out. Thus, a solution for the deficit problem at Fraport's ground handling services division has been found, which is vital for maintaining smooth functioning operational processes at this vital Group segment. "Our Pact for the Future agreement provides both staff and the company with new perspectives, and we can maintain our integrated business model well into the future," said Schulte. Fraport expects to achieve annual savings of up to EUR42 million over the span of the agreement to 2018.

No less important is the agreement with the airlines and airline associations over airport charges at FRA. The airlines and the airport operator will have planning security at the modernized and soon-to-be expanded FRA. With the current investment volume of some EUR1 billion per year, Fraport has about EUR100 million in additional expenditures annually for interest and depreciation alone. These expenditures must first be earned - through expected traffic growth and additional airport charges, as well as increasing proceeds from retail.

The fundamental agreement between the German Ministry of the Interior, Deutsche Lufthansa AG and Fraport AG for aviation security control takes into account increasing competitive challenges. The aviation security services market will be opened up incrementally during the coming years - thus in a socially acceptable manner for the approximately 2,700 employees of Fraport AG and FraSec. To maintain smooth-functioning operations while meeting growing security demands, Schulte called for the introduction of body scanners for passenger screening at FRA. "Experience at other airports shows that security issues, the protection of individual privacy, and operational needs can be harmonized with this new technology.

Schulte also described the company's Fitnesss@Fraport2011 internal program as another milestone. This corporate reorganization will realize productivity gains of more than 10 percent through simplified structures and new interfaces between business units and central units.

For the current year, Fraport is expecting a one to two percent increase in passenger figures at Frankfurt. EBITDA is forecast to reach at least EUR600 million, whereby the improvement in results will come mainly from the company's international business. Group profit is expected to weaken due to higher depreciation costs and higher financial expenditures. "Competition among the global hubs will certainly intensify, but we are confident that we can improve are good position - including via Frankfurt Airport's capacity expansion," stressed Schulte.

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For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide Robert A. Payne, B.A.A. - Senior Manager International Press Press Office (Dept. UKM-PS), Corporate Communications 60547 Frankfurt am Main, Germany Tel.: +49-69-690-78547; Fax: +49-69-690-60548; E-mail: [email protected]; Internet: http://www.fraport.com

CONTACT: For Further Information, Please Contact: Fraport AG FrankfurtAirport Services Worldwide, Robert A. Payne, B.A.A. - Senior ManagerInternational Press, Press Office (Dept. UKM-PS), Corporate Communications,60547 Frankfurt am Main, Germany, Tel.: +49-69-690-78547; Fax:+49-69-690-60548; E-mail: