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 years 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 years 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 years 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 FRAs Ground Handling in 2012 at 87% Main customer Lufthansa has a handling contract running until 2018

  • Slide 18

    Business Top