Fraport AG · XETR:FRA
Fraport — Q1 2002 Earnings Presentation
15 slides from Fraport's earnings presentation, May 28, 2002
Slide 1: Fraport AG Results 1st Quarter 2002 Conference Call
Fraport AG Frankfurt Airport Services Worldwide Results 1st Quarter 2002 Conference Call May 28, 2002 0
Slide 2: Key Highlights
Key Highlights • First-time full consolidation of ICTS Europe Holdings B.V. – the European market leader in air traffic security services • Continued recovery in passenger volumes after September 11 • Revenue growth by 14.4 % up to € 401.7m • Increase in net income by 166.2 % up to € 18.1m • Rise of
Slide 3: Traffic Figures at Frankfurt Airport
Traffic Figures at Frankfurt Airport Q1 Q1 Q1 ∆ Q1 2000 2001 2002 01/02 PAX (m) 10.4 11.0 10.5 (4.4)% Air Freight (t 000) 358.8 380.7 353.0 (7.3)% Mail (t 000) 34.8 36.0 35.5 (1.4)% ATMs (000) 108.0 109.6 106.9 (2.4)% PAX/PAX-ATM 106 110 107 (2.5)% MTOW (t 000) 5,757.9 6,127.8 5,707.4 (6.9)% Seat Lo
Slide 4: 2002 PAX Numbers at Frankfurt-Hahn
2002 PAX Numbers at Frankfurt-Hahn PAX ∆ 2002 01/02 January 29,615 17.3% February 56,138 79.2% March 109,681 226.3% April 122,661 216.2% Source: Fraport AG
Slide 5: Capacity Expansion Process on Time
Core Business Growth Capacity Expansion Process on Time Planning Approval Construction Operation ü 1997: Start of ü Official start • 2004: Completion • 2006: New runway discussions of regional of approval goes into operation ü 1998-2000: planning proce- process • 2007-2013: New Mediation dure on • S
Slide 6: Retail
Retail • Retail Revenues up by 10.4 % • Retail income per passenger increased strongly from € 1.27 to € 1.48
Slide 7: Profit & Loss Statement
Profit & Loss Statement 1st Quarter 1st Quarter €m Growth 2001 2002 Revenues 351.2 401.7 14.4 % Total Revenues (1) 385.7 417.4 8.2 % Staff costs 172.3 202.9 17.8 % Cost of materials 64.3 55.1 (14.3 %) Other operating expenses 61.0 57.3 (6.1 %) EBITDA (2) 90.8 100.2 10.4 % EBITDA margin (3) 25.9 24.9
Slide 8: Significant Revenue Growth
Significant Revenue Growth Revenues (€ m) • Revenue Growth + 14.4% • First-time full 400 consolidation of 350 401.7 ICTS Europe 300 351.2 • Tariff increase for 250 regulated airport 200 and infrastructure fees 150 100 50 0 1st Quarter 2001 1st Quarter 2002
Slide 9: Increase in EBITDA
Increase in EBITDA EBITDA (€ m) + 10.4% • Increase in EBITDA 100 • Revenue growth 80 • Reduction in non-staff costs 60 100.2 90.8 40 • Structural decrease of EBITDA margin 20 • due to the first-time full consolidation of ICTS Europe 0 1st Quarter 2001 1st Quarter 2002
Slide 10: Rise in EBIT and Net Income
Rise in EBIT and Net Income EBIT Net Income and EPS €m in % 11.8 €m € 11.6 12 25 50 0.20 20 0.2 0,2 40 8 15 0.11 30 47.3 18.1 40.6 10 0.1 0,1 20 4 5 10 6.8 0 0 0 0 1st Quarter 2001 1st Quarter 2002 1st Quarter 2001 1st Quarter 2002 EBIT EBIT margin Net Income Earnings per share (IAS)
Slide 11: Balance Sheet
Balance Sheet €m 31.12.01 31.03.02 Growth Fixed assets 3,222.8 3,290.5 2.1 % Current assets 407.7 449.1 10.2 % Total assets 3,672.0 3,781.1 3.0 % Equity 1,964.3 1,985.2 1.1 % Debt (1) 970.1 1,043.8 7.6 % Equity & liabilities 3,672.0 3,781.1 3.0 % Capital employed 2,865.2 2,975.4 3.9 % Net debt (2) 8
Slide 12: Segments - External Revenues
Segments - External Revenues Others 3% Others 3% Ground- Handling Aviation Ground- Aviation 28% 45% Handling 37% Non-aviation 34% Non-aviation 24% 26% Q1 2001 : € 385.7 m Q1 2002 : € 417.4 m • Aviation First-time full consolidation of ICTS Europe • Ground Handling Decline in air traffic volume • Non
Slide 13: Aviation Charges at FRA
Aviation Charges at FRA • Fee Cap / Fee Floor: Fraport has signed the Fee Cap / Fee Floor agreement with the airlines on April 30 2002. • Financing of the Passive Noise Abatement Program: Fraport intends to collect the following charges for financing the passive noise abatement program as of 1st Nov
Slide 14: Manila
Manila • Ongoing negotiations • Total exposure of US$ 374.9m unchanged • Construction progress is on schedule • Commencing operations in November 2002
Slide 15: Outlook
Outlook