Fraport Presentation FY2012 Preliminary Figures
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Transcript of Fraport Presentation FY2012 Preliminary Figures
Analyst Presentation Preliminary Figures FY 2012 Frankfurt, March 12, 2013 Dr Stefan Schulte, CEO Dr Matthias Zieschang, CFO
This document has been prepared by Fraport solely for use in this presentation. The information contained in this document has not been independently verified. No representation or warranty – whether express or implied – is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained therein. Neither the company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither this document nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This document contains forward-looking statements that are based on current estimates and assumptions made by the management of Fraport to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results – including the financial condition and profitability of Fraport – to differ materially from or be more negative than those expressed or implied by such forward-looking statements. This also applies to the forward looking estimates and forecasts derived from third-party studies. Consequently, neither the Company nor its management can give any assurance regarding the future accuracy of the opinions set forth in this document or the actual occurrence of the predicted developments. By accepting this document, you agree with the foregoing.
Slide 2
Disclaimer
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 3
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
250.8 251.6
2371.2 2442.0
Financial Highlights Fraport Group Results FY 2012
Slide 4
+3.0% +0.3% +6.0%
• Increase of airport charges and traffic growth Aviation
• Weak performance due to reduced Cargo volume and MTOW Ground Handling
• New marketplace up and running Retail
• Lima outstanding, Antalya above 2011 despite flat passengers External
in € mil.
Preliminary Figures FY 2012
850.7
Revenue EBITDA Net Profit
Analyst Presentation FY Preliminary 2012
2011 2012 2011 2012 2011 2012
802.3 850.7
Financial Highlights Fraport Segment Results FY 2012
Slide 5 Preliminary Figures FY 2012
Analyst Presentation FY Preliminary 2012
in € mil.
Revenue: EBITDA : EBIT:
External A&S
+20 +19 +16
Retail & RE
+8 +29 +19
GH
-6 -11 -16
Aviation
+49 +12 -19
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 6
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Outlook 2012 Guidance fulfilled!
Slide 7
*Proposal to AGM Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
• Less than plus 4%, mainly because of strike impact Passengers at FRA
• Not above €2.5 bn., due to lower than expected revenue from long-term construction activities w/o EBITDA effect Revenue
• Increase minimum 5% EBITDA
• Above previous year EBIT
• About previous year’s level Net Profit
• € 1.25 per share* Dividend
Outlook 2013 Traffic on 2012 Level, but operational Growth
Slide 8
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
*Proposal to AGM
• About previous year‘s level Passengers at FRA
• Growth up to 5% Revenue
• € 870 - 890 mil. EBITDA
• At upper range of EBITDA growth: up to a maximum of~ €520 million • At lower range of EBITDA growth: About previous year‘s level EBIT
• Decrease Net Profit
• € 1.25 per share* Dividend
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 9
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 10
Traffic Insight Traffic Figures Majorities
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
in ‘000 Share FY 2011 FY 2012 JAN 2013 FEB 2013
Frankfurt 100% 56,436 57,520 3,877 3,605 ∆ in % 6.5 1.9 -4.9 +0.2
Lima 70.01% 11,796 13,324 1,186 1,156 ∆ in % 14.7 13.0 13.1 11.6
Antalya 51% 24,964 24,954 565 627 ∆ in % 12.7 0.0 -4.9 3.1
Varna 60% 1,182 1,221 17 16 ∆ in % -3.7 3.4 -- >100
Burgas 60% 2,253 2,381 11 9 ∆ in % 19.0 5.6 -45.8 -49.2
Group 96,631 99,401 5,657 5,415 ∆ in % 9.1 2.9 -1.5 2.9
Slide 11
Analyst Presentation FY Preliminary 2012
Traffic Insight Dynamic Intercont Traffic vs. Weakness in EU in 2012
North America
Latin America
Africa
Far East
Middle East
W-Europe
Traffic Share in Frankfurt (PAX) 12M 12 %-Change 12M 12 vs. 12M 11
Intercontinental
E-Europe Domestic
Continental
42% 11% 8%
2% -4% 3% 14%
1%
11%
2%
4%
10%
5%
7%
5%
5%
61%
1%
39%
4%
Frankfurt Airport
Preliminary Figures FY 2012
Analyst Presentation FY Preliminary 2012
Traffic Insight Small Growth among all European Competitors
Preliminary Figures FY 2012
Jan-
Dec
11
56.2
93.1
08
Jan-
Dez
11
69.3
91.4
48
Jan-
Dec
11
49.6
80.2
83
Jan-
Dec
11
60.9
14.8
35
Jan-
Dec
11
37.6
34.2
14 Jan-Dec 12
57.274.099
Jan-Dec 12 69.984.868
Jan-Dec 12 50.975.592
Jan-Dec 12 61.490.272
Jan-Dec 12 38.217.181
2,0
2,5
3,0
3,5
4,0
4,5
5,0
5,5
6,0
6,5
7,0
2012 2011
Frankfurt Munich Paris-CDG Amsterdam London-LHR
Passengers in mil.
Source: Fraport AG, Rapid Data Exchange
1.9% 0.9% 2.6% 0.9% 1.5%
FY result
Slide 13
Traffic Insight Movements at German Airports in Summer
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
-1.4 -2.6
-1.7 -1.4
-4.8
-6.3
-4.7 -5.6
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
Cost savings measures of major German Airlines also show effect in summer schedule 2013
Change of Movement in % - summer schedule 2013 vs 2012
FRA MUC Berlin DUS HAM CGN STR HAJ
Source: FHKD/Sabre beginning of March 2013
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 14
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 15
Business Topics FRA Pier A-Plus Operations
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Pier A-Plus opened in October 2012 Utilization today: Mostly intercont until midday (see picture),
Schengen focus until late afternoon, again focus intercont until stop of operations
Satisfying passenger development during winter, full potential will be visible in summer schedule
Retail Performance in Q4 2012: Growing to €3.95/ Passenger (+~11.5% q on q)
Target 2013: In the direction of €4/ Passenger
Slide 16
Business Topics FRA Terminal 3 Timeframe
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Decision on timing of Terminal 3 is strictly driven by demanded capacity
We expect sustainable growth in FRA making additional capacity from Terminal 3 necessary
Focus on planning, optimization of construction stages including more flexibility in the different steps
Construction of apron areas and additional parking positions on Terminal 3 area will proceed in 2013
In depth-planning ensures budget and time control Bid invitation and construction will be flexible in timing in a
range of 5-7 years to meet demand as exactly as possible
Slide 17
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Business Topics FRA Ground Handling Legislation
The EU-regulation still contains following details (among other things): Obligation of a legal separation of ground handling services for
airport operators Additional license for a third party ground handling
service-provider (today 2 licenses obligatory) Unlimited self-handling for airlines
Rejection of the proposal by the European Parliament and return to the Transport Committee
If agreement is achieved, EU-regulation comes into force around 2015/2016
FRA could have an additional 3rd handling company after that Fraport market share in FRA’s Ground Handling in 2012 at 87% Main customer Lufthansa has a handling contract running until 2018
Slide 18
Business Topics FRA “Great to have you here!“
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
28%
2% 70%
22%
1%
77%
19%
1%
80%
2010 2011 2012
1= very good 6 = very poor
1&2
3&4
5&6
Share of votes
Growing share of satisfied passengers since start of program: 80% Satisfied Passengers
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 19
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 20
Business Topics External Lima: Outstanding Development
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
PAX Actual (MM) Outstanding growth over a decade
Strong traffic growth in Lima since start of concession in 2001 (11% CAGR of Total Passengers)
13.3 million passengers FY 2012 Ongoing strong development on
international and domestic routes projected for the future
Airport reaching capacity limit
Passengers actual (MM)
0.0
15.0
Slide 21
Business Topics External Lima: Scheduled Expansion Measures
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Short term measures: - Apron expansion - Additional bus gates - New check-in counters - Remodeling of security - Remodeling customs control
New midfield terminal scheduled within next four years
New terminal to be developed modular to provide flexibility to serve future traffic requirements
New runway approx. 2020
330
625
935660
Slide 22
Business Topics External Antalya: Competitive Position drives Growth
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Ant
alya
Pal
ma
de M
allo
rca
Mal
aga
Gra
n C
anar
ia
Sha
rm e
l She
ikh
Ham
mam
et
Pap
hos
Cor
fu
San
torin
i
2,225
1,325
90 110 105
1,445
160
1,065
125 70 75 110
1,245
60
1816
86554
2211100
-5-7-8-9-9
-16
Flor
ence
Dub
rovn
ik
Mar
bella
Is
tanb
ul
Vien
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Por
tuga
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iza
Spa
in
Cyp
rus
Pal
ma
de M
allo
rca
Sha
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ikh
Gre
ece
Phu
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Mar
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Bal
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Can
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Alic
ante
Cai
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Ben
idom
Ant
alya
Accommodation Cost for a Week of Holiday in €*
Change in average hotel room price - H1 2012 vs H1 2011 in %**
Source: Tatilsepeti.com ** Source: The hotel price index
Cost range +/-
Slide 23
Business Topics External Antalya: Background for Future Growth
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
*Source: WTTC **Source: Company Information
Increasing Hotel Infrastructure**
868888
797
673643625
412385351295262235
2007 2008 2009 2010 2011 2012
Number of hotels Bedplace Capacity (in ’000)
2012-22 CAGR – Investment upside in Tourism Infrastructure*
62% 63% 59% 59% 58% 58%
3.5%
4.9%
5.8%
Portugal Greece
3.4%
Spain Tunesia Turkey Egypt
3.1%
2.0%
% Average occupancy rate
Travel & Tourism investment 2011: TRY23.9bn (€~10
bn) = 8.6% of total investment
Slide 24
Business Topics External New BOT Project Istanbul
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Modular airport construction (BOT) in four defined phases from passenger capacity of 70 million to 150 million
Concession length: Construction time phase 1 (42 months) + 25 years concession
Exclusive airport on European side of Istanbul Public bid on May 3rd, 2013 Decision criteria:
nominal concession payment for 25 years
Lead investor has to hold min 51% of consortium
Agenda
Financial Highlights FY2012 Outlook Traffic Insight Business Topics FRA Business Topics External Financials in Detail FY2012
Slide 25
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Profit & Loss 2012 Revenue and EBITDA up, Group Result on 2011 Level
Seite 26
€ mil. FY 12 FY 11 %
Revenue 2,442.0 2,371.2 +3.0
EBITDA 850.7 802.3 +6.0
EBIT 498.0 496.6 +0.3
EBT 366.1 347.3 +5.4
Group result 251.6 250.8 +0.3
EPS in € 2.59 2.62 -1.1
Employees 20,963 20,595 +1.8
2.195 2.371 2.442
711 802 851
272 251 252
Revenue EBITDA
2012 2010/2011 Volume & Price effects main driver for Revenue growth in FRA External Airports, mainly Lima, with growing share Positive Retail effects due to new A-Plus Group result on previous year‘s level
Net Profit
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
In € mil.
Financial Result Interest Result down, other Financial Result up!
1) Capitalized interests acc. to IAS 23: 2011: q1: €17.3 mil., q2: €18.4 mil., q3: €20.3 mil., q4: €6.3 mil. 2012: q1: €7.6 mil., q2: €8.0 mil., q3: €7.6 mil., q4: €4.2 mil.
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Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
-200
-175
-150
-125
-100
-75
-50
-25
0
-149.3
+16.9 +30.0 -131.9
+0.2 -35.0
Interest rate effects Less capitalized Interest1 plus higher debt
-132.4
+5.3
Derivatives & Currency
Derivatives / Others & Currency
€ mil.
Adjust- ments
Financial result
adjusted
Interest income
Other financial
result
Financial result 2012
Interest expenses
Result from
associates
Financial result 2011
Segment Aviation Volume & Price Effects, one-off Burden in Opex
Slide 28
€ mil. FY12 FY11 %
Revenue 823.4 774.9 +6.3
Staff costs 278.9 263.9 +5.7
EBITDA 199.9 187.8 +6.4
EBITDA margin 24.3% 24.2% +0.1PP
EBIT 77.6 96.1 -19.3
Employees 6,298 6,088 +3.4
694 775 823
132 188 200
56 96 78
Revenue EBITDA EBIT
Revenue: Driven by Aviation charges (volume & price) Opex burdened by provision for regional fund of €10.5 mil. (Q2/2012) EBITDA: +6.4% at €199.9 mil. D&A up due to Runway and Pier A-Plus EBIT down
2012 2010/2011
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
In € mil.
Segment Retail & Real Estate
Strong Performance in Retail Business
Slide 29
€ mil. FY12 FY11 %
Revenue 452.9 444.7 +1.8
Staff costs 46.6 42.6 +9.4
EBITDA 333.9 305.3 +9.4
EBITDA margin 73.7% 68.7% +5.0PP
EBIT 251.5 232.1 +8.4
Employees 629 596 +5.5
Solid increase in earnings from A-Plus Decrease in revenue due to less Mönchhof property sales (FY12: €16.4 mil. vs. FY11: €27.9 mil.) EBITDA: +9.4% at €333.9 mil., 2011 affected by CASA provision Margin back in 70’s EBIT also with strong performance
403 445 453
295 305 334
228 232 252
Revenue EBITDA EBIT
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011 In € mil.
Segment Retail & Real Estate
Pier A-Plus shows Effect!
Slide 30
€ mil. FY12 FY11 %
Real Estate 175.2 168.3 +4.1
Parking 73.5 74.8 -1.7
Others1 24.4 33.7 -27.6
Retail 179.8 167.9 +7.1
-Shopping 114.1 103.0 +10.8
-Services2 48.7 46.2 +5.4
-Advertising 27.9 29.5 -5.4
Retail per passenger +4.7% at €3.32 Key driver for increase: Duty free and fashion turnover Good F&B development in “Services” Less advertising (mainly gate bridges) Parking down due to The Squaire
3.07 2.97 2.74 3.36 3.32 3.02 2.87
3.54 3.40 3.10 2.95
3.95
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
1) 2012 includes property sales on Mönchhof site of €16.4 mil. / 2011 property sales of €27.9 mil. 2) Revenue according to old segment structure, differences due to IT services
FY10 €3.02
FY11 €3.17
FY12 €3.32
Net retail revenue per passenger from 2010 on in €
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Segment Ground Handling Weak Revenue, EBITDA & EBIT
Slide 31
€ mil. FY12 FY11 %
Revenue 649.3 655.5 -0.9
Staff costs 403.3 390.8 +3.2
EBITDA 43.6 54.5 -20.0
EBITDA margin 6.7% 8.3% -1.6PP
EBIT 4.7 20.3 -76.8
Employees 8,924 8,899 +0.3
Revenue down, due to less Cargo and MTOW Release of about €10 mil. provision (Q2/2012) Higher staff cost from pay-rise EBITDA, margin and EBIT down
659 656 649
44 55 44 11 20 5
Revenue EBITDA EBIT
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011 In € mil.
Segment External Activities & Services
Main Driver for Increase: Lima
Slide 32
€ mil. FY12 FY11 %
Revenue 516.4 496.1 +4.1
Staff costs 219.0 209.0 +4.8
EBITDA 273.3 254.7 +7.3
EBITDA margin 52.9% 51.3% +1.6PP
EBIT 164.2 148.1 +10.9
Employees 5,112 5,012 +2.0
Adjusted for IFRIC 12 revenue up: +€24.0 mil. (+5.2%) (IFRIC 12 effect on revenue: - €3.7 mil.) Revenue increases from Lima, AYT & Twin Star Revenue decreasing effect from disposal of Fraport Austria EBITDA & EBIT up, main driver: Lima
439 496 516
240 255 273
136 148 164
Revenue EBITDA EBIT
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011 In € mil.
Slide 33
1) Percent change based on unrounded figures
mil. FY12 FY11 %
Passengers1 25.0 25.0 0.0
Revenue 301.1 293.9 +2.4
EBITDA 259.6 254.2 +2.1
EBITDA margin 86.2% 86.5% -0.3PP
EBIT 161.7 158.0 +2.3
Employees 478 470 +1.7
Figures before consolidation
Despite flat passenger development, due to MENA crisis, revenue increased Strong summer season and domestic demand – lower international traffic Good retail performance increases Revenue, EBITDA and EBIT
Majority Holdings in External Activities Antalya
267 294 301 217
254 260
123 158 162
Revenue EBITDA EBIT
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011 In € mil.
Slide 34
1) Figures refer to IFRS accounting, not local GAAP 2) Percent change based on unrounded figures
mil. FY12 FY11 %
Passengers2 13.3 11.8 +13.0
Revenue 191.3 159.3 +20.1
EBITDA 65.5 53.2 +23.1
EBITDA margin 34.2% 33.4% +0.8PP
EBIT 52.5 42.7 +23.0
Employees 588 541 +8.7
135 159 191
49 53 66 38 43 53
Revenue EBITDA EBIT
Ongoing strong development on international and domestic routes Passengers, revenue, EBITDA and EBIT with double digit growth Additional positive US-$ effect IFRIC 12 effect on revenue: 2012: +€11.3 mil./ 2011: +€13.3 mil.
Majority Holdings in External Activities Lima1
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011 In € mil.
Majority Holdings in External Activities Varna & Burgas
Slide 35
1) Percent change based on unrounded figures
mil. FY12 FY11 %
Passengers1 3.6 3.4 +4.9
Revenue 63.3 62.8 +0.8
EBITDA 25.9 23.8 +8.8
EBITDA margin 40.9% 37.9% +3.0PP
EBIT 18.8 17.2 +9.3
Employees 1,094 1,067 +2.5
Solid summer season Adjusted by IFRIC 12 revenue up +€2.2 mil. EBITDA and EBIT in line with passenger development up IFRIC 12 effect on revenue: 2012: +€17.4 mil./ 2011: +€19.1 mil.
40 63 63
21 24 26 14 17 19
Revenue EBITDA EBIT
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
2012 2010/2011
Cash Flow Taxes & Interest affects OCF, less Capex helps FCF
Slide 36
Analyst Presentation FY Preliminary 2012
238.3
553.0
-162.4
13.3
352.7
-51.3 -5.4
-598.6 -89.4
-22.0 -200
-100
0
100
200
300
400
500
600
700
800
€ mil.
Preliminary Figures FY 2012
Non-controlling
interest D&A Others PPE
Invest- ment
property
Free cash flow
Operating cash flow
Intangible assets
Profit after Minorities
Airport operating projects
Slide 37
-291 -350 -162
2.384
1.607 1.663
4.408 4.254 4.598
FCF Liquidity Gross debt
2.024
2.647 2.935
2.603 2.706 2.794
Net debt Equity Gearing
78% 98%
105%
2012 FCF at minus €162.4 mil. Group liquidity at €1.66 bn. Gross debt at €4.60 bn. Net debt at €2.94 bn. Gearing ratio at 105%
Outlook 2013 FRA capex about €450 mil. External capex about €100 mil. to 150 mil. FCF still negative Gearing ratio about 110%
2
1) Liquidity 2011 adjusted. Deferred interest income deducted. Correspondingly, net debt 2011 adjusted 2) Equity less non-controlling interests and profit earmarked for distribution
2012 2010/2011
Financial Position, Gearing & Outlook Improving FCF, Gearing at 105%
Preliminary Figures FY 2012
Analyst Presentation FY Preliminary 2012
1
1
Thank you for your Attention! www.meet-ir.com
Slide 39
Consolidated Income Statement FY2012
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 40
Consolidated Statement of Cash Flows FY2012
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 41
Consolidated Statement of Financial Position FY2012
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Revenue Split FY2012
Slide 42
€ million 2011 2012 Delta Aviation Airport fees 634.7 673.6 6.1% Security services 92.0 98.3 6.8% Other revenue 48.2 51.5 6.8% 774.9 823.4 6.3% Retail & Real Estate Real estate 168.3 175.2 4.1% Retail 167.9 179.8 7.1% Parking 74.8 73.5 -1.7% Other revenue 33.7 24.4 -27.6% 444.7 452.9 1.8% Ground Handling Ground handling services 406.1 393.3 -3.2% Infrastructure fees 246.7 256.0 3.8% Other revenue 2.7 0.0 -100.0% 655.5 649.3 -0.9% External Activities & Services Antalya 147.0 150.5 2.4% Twin Star 62.8 63.3 0.8% Lima 159.3 191.3 20.1% Others 127.0 111.3 -12.4% 496.1 516.4 4.1% Group revenue 2,371.2 2,442.0 3.0%
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Slide 43
Majority Holdings in External Activities AYT: Passengers despite Arab Spring in `11 on PY Level
Analyst Presentation FY Preliminary 2012
Jan Feb Mar Apr Mai Jun Jul Aug Sep Oct Nov Dec
2010 2011 2012
YTD2012 vs 2011: +-0%
Preliminary Figures FY 2012
Slide 44
Borrower Fraport AG Amount EUR 150 mil. (demand-driven
increase possible) Final amount EUR 300 mil. Maturities 8,10 and/or 18 years Interest (1) Floating
(2) Fixed Reference Euro mid swap (ICAP) / 6-m
Euribor Repayment bullet, at par Status Senior, unsecured Issue Price 100% Use of proceeds General corporate purposes Documentation SSD-Documentation / NSV-
Documentation (incl. pari passu, negative pledge, MAC)
Law Law German law ECB eligible ECB eligible Yes
(DES000000071321) Arrangers Helaba und UniCredit Paying agent Helaba
Key Terms Pricing
Maturities 8 years 10 years 18 years
Reoffer spread (Margin over ref. rate)
100-120 Bp 120-140 Bp 4% fixed coupon
Volume & Pricing – Fixed Tranches Volume (€ mil.)
54.5 72.5 108
Final margin 100 Bp 120 Bp - Mid Swap 1.424 % 1.698 % - Kupon 2.42 % 2.90% 4.00 %
Volume & Pricing – Variable Tranches Volume (€ mil.)
52.0 13.0 -
Final margin 100 Bp 120 Bp -
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Financial Position €300 mil. Promissory Note Loan issued December 2012
0
1000
2000
3000
4000
5000
12 2012 12 2012 2013 2014 2015 2016 2017 2018 2019 2020
Financial Position Maturity Profile & Cash Position as of Dec. 31, 2012
Other financial liabilities
Promissory notes “Schuldscheindarlehen” of €1,215 mil.
Loans of Infrastructure Banks of €1,230 mil.
Liquidity
€ mil. Fraport debt conditions on average
~ 4% interest rate
~ 7 years maturity
Bond of € 800 mil. & Private Placement of €150 mil.
Slide 45
157.8 284.9 509.8 502.5 416.0
583.4
1,173.4
235.3
734.5
4,597.6
1,663,1
2021++
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Total redemption/ year
Special & Extraordinary Effects FY2012 FY2012
Segment Aviation Creation of regional fund provision, Q2/2012 EBITDA: -€10.5 mil.
Segment Retail & Real Estate Property sales Mönchhof area Revenue: €16.4 mil.
Segment Ground Handling Release of provision, Q2/2012 EBITDA: €9.9 mil.
Segment External Activities & Services Disposal Fraport Austria Revenue: €15.3 mil. EBITDA: €1.5 mil. EBIT: €1.0 mil.
Financial Result Market valuation of derivatives & currency
fluctuations: +€2.7 mil.
FY2011
Segment Aviation One-off D&A on properties EBIT: -€6.8 mil.
Segment Retail & Real Estate Property sales Mönchhof area Revenue: €27.9 mil. Creation of CASA provsion, Q4/2011 EBITDA: -€14.4 mil. One-off D&A on properties, Q4/2011 EBIT: -€6.0 mil.
Financial Result Market valuation of derivatives & currency
fluctuations: -€16.9 mil.
Slide 46
Analyst Presentation FY Preliminary 2012
Preliminary Figures FY 2012
Investor Relations Team Contact Details Fraport AG Frankfurt Airport Services Worldwide 60547 Frankfurt am Main www.meet-ir.com +49 69 690 – 74842
Stefan J. Rüter Head of Finance & Investor Relations
+49 69 690-74840 [email protected]
Svenja Knust Investor Relations Assistant +49 69 690-74842
Marc Poeschmann Manager Investor Relations
+49 69 690-74845 [email protected]
Florian Fuchs Manager Investor Relations & Financial Reporting
+49 69 690-74844 [email protected]
Tanja Nagel Financial Reporting
+49 69 690-74846 [email protected]
Analyst Presentation FY Preliminary 2012