Frankfurt airport sees 2009 traffic drop
The difficult crisis year is reflected in the 2009 traffic figures of Fraport AG. 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 €1.97 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 €290.4 million. Group profit reached €157.3 million, a decline of 20.1 percent. Correspondingly, basic earnings per share dropped by 20.8 percent to €1.64.
"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.
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 €600 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.