Fraport (FRA) investor relations material

Executive summary

• Terminal 3 at Frankfurt Airport was inaugurated in April 2026, with all airlines moving from Terminal 2 by June 2026, now under renovation.

• Group revenue rose 4% year-over-year to €2,069.1 million, with EBITDA up 3.8% to €582.3 million, but Group result dropped 47.7% to €51.6 million due to higher depreciation and interest expenses.

• Frankfurt Airport passenger numbers reached 28.9 million, slightly below last year due to strikes and Middle East conflict, while international airports, especially Greece, Brazil, and Lima, saw robust growth.

• Free cash flow was negative at -€367.9 million, impacted by higher working capital, tax, and interest payments.

• International assets performed in line with or above plans, with Greece, Brazil, and Ljubljana outperforming, while Antalya and Lima underperformed.

Financial highlights

• Revenue: €2,069.1 million (+4.0% year-over-year); adjusted revenue: €1,981.0 million (+4.5%).

• EBITDA: €582.3 million (+3.8%); EBIT: €263.5 million (-14.0%).

• Group result: €51.6 million (-47.7%); EPS: €0.55 (-46.6%).

• Net financial debt: €8,691.8 million (+€501.3 million from Dec 2025); gearing ratio: 167.6%.

• Free cash flow: -€367.9 million (prior year: -€324.8 million).

Outlook and guidance

• Passenger volumes at Frankfurt expected to remain at 2025 levels for full-year 2026 due to strikes, geopolitical tensions, and high jet fuel prices.

• International sites forecasted to continue positive trends; Group financial situation expected to remain stable.

• EBITDA guidance up to €1.5 billion, but actual expected below this due to Frankfurt traffic; group result expected between €300–400 million.

• Net debt/EBITDA expected to improve, with a target of around 5x by 2027.

• Dividend payout of €100 million for this year is confirmed; future payouts will be discussed with stakeholders.