Fraport AG · XETR:FRA

Fraport — Q1 2004 Earnings Presentation

28 slides from Fraport's earnings presentation, May 2004

  1. Slide 1: Fraport Q1 2004 Presentation

    Fraport AG Frankfurt Airport Services Worldwide Fraport Q1 2004 Presentation Dr. Wilhelm Bender, CEO Dr. Stefan Schulte, CFO Slide 2 Disclaimer This document has been prepared by Fraport solely for use in the roadshow presentation. The information contained in this document has not been independentl

  2. Slide 2: Integrated Business Model and Segment Split

    Slide 3 Agenda Strategy ƒ Traffic Development and Opportunities ƒ Far East ƒ Eastern Europe ƒ Frankfurt-Hahn ƒ Update Retail, Expansion Program ƒ Financials Q1 2004 Presentation Slide 4 Traffic Development Update Retail, Expansion Program Financials Integrated Business Model and Segment Split • Runw

  3. Slide 3: Group Traffic Figures

    Slide 5 Agenda Strategy ƒ Traffic Development and Opportunities ƒ Far East ƒ Eastern Europe ƒ Frankfurt-Hahn ƒ Update Retail, Expansion Program ƒ Financials Q1 2004 Presentation Slide 6 Traffic Development Update Retail, Expansion Program Financials Group Traffic Figures Passengers Q1 2004 Jan 2004

  4. Slide 4: Growth Opportunities for Frankfurt are to the East

    Slide 7 Traffic Development Update Retail, Expansion Program Financials Growth Opportunities for Frankfurt are to the East Europe & Domestic 63% North America 15% Far East Middle East 11% 3% Central America 2% Africa 4% South America 1% Australia 1% - No competitor east of Frankfurt Growth markets a

  5. Slide 5: Traffic Exposure Eastern Europe

    Slide 9 Traffic Development Update Retail, Expansion Program Financials Traffic Exposure Eastern Europe Weekly Capacity Frankfurt Munich Vienna Seats: 62,400 32,000 38,172 Connections: 491 409 482 Destinations: 43 33 40 – Summer Flight Schedule with 16.6% more connections to Eastern Europe – Traffic

  6. Slide 6: Frankfurt-Hahn: Traffic Development and P&L Figures

    Slide 11 Traffic Development Update Retail, Expansion Program Financials Frankfurt-Hahn: Traffic Development Q1 2003 Q1 2004 ∆% Passengers in ‘000 465 579 24.5 % – Air Polonia started Freight in ‘000 tons 6.4 14.7 129.7 % operations in April 2004 with service to Warsaw Movements in ‘000 6.7 7.2 8.6

  7. Slide 7: Frankfurt-Hahn: Retail & Properties and Shareholders

    Slide 13 Traffic Development Update Retail, Expansion Program Financials Frankfurt-Hahn: Retail & Properties Q1 2003 Q1 2004 ∆% Parking lots 757 6,658 780 % – All parking lots charged Parking revenues in T€ 214 942 341 % – Max. capacity of parking lots used in April 2004 Commercial space in sqm 1,35

  8. Slide 8: Major Retail Projects in Frankfurt

    Slide 15 Agenda Strategy ƒ Traffic Development and Opportunities ƒ Far East ƒ Eastern Europe ƒ Frankfurt-Hahn ƒ Update Retail, Expansion Program ƒ Financials Q1 2004 Presentation Slide 16 Traffic Development Update Retail, Expansion Program Financials Major Retail Projects in Frankfurt Frankfurt, Te

  9. Slide 9: A380 Maintenance Hangar Procedures; Zoning Procedure for Runway and Terminal

    Slide 17 Traffic Development Update Retail, Expansion Program Financials Procedures for Lufthansa’s A380 Maintenance Hangar Planning Approval Construction Operation 9 January 2003: - H2 2004: - 2007: Submission of Zoning decision Readiness for zoning application operation - Start of 9 May 2003: cons

  10. Slide 10: Zoning Procedure for Runway and Terminal (2)

    Slide 19 Traffic Development Update Retail, Expansion Program Financials Zoning Procedure for Runway and Terminal (2) Step in Procedure Comments Final report District president hands over to Ministry of Economics. Enforceable zoning Hessian Ministry of Economics approves decision expansion with imme

  11. Slide 11: Highlights Q1 2004

    Slide 21 Agenda Financials Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Q1 2004 Presentation Slide 22 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Highlights Q1 2004 Aviation – Passenger traffic: +9.8 % in Gro

  12. Slide 12: Profit & Loss Statement (1)

    Slide 23 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Highlights Q1 2004 Other accounting effects: – Dividend payout from Antalya in Q1 2003 (€ 8.5 mil. – next regular dividend will be paid in Q4 2004) – Currency effects: € -6.1 mil. (incl. non-operating

  13. Slide 13: Special EBITDA Effects; Staff Costs Increase

    Slide 25 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Special EBITDA Effects – Not Affecting FY 2004 Change in Revenues from noise abatement fees, Revenue effect from modified compared to previous year‘s quarter accounting method of noise 9 abatement fees

  14. Slide 14: Non-Staff Costs and Key Factors Affecting EBITDA

    Slide 27 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Non-Staff Costs Affected by Maintenance Measures Non-Staff Costs in € mil. – Cost of materials up by 9.4 % +6.7 116.6 due to maintenance measures, 109.9 e.g. reconstruction of north runway and upgradin

  15. Slide 15: WM 2005 Achievements; Profit & Loss Statement (2)

    Slide 29 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement WM 2005: € 49 mil. Achieved in Q1 2004 150 in € mil. 100 65 49 42 37 as of 10 11 Q1 2002 2003 2004 2005 2006 Planned Achieved Q1 2004 Presentation Slide 30 Profit & Loss Statement Segment Results Subsi

  16. Slide 16: Interest Result and Selected P&L Items

    Slide 31 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Interest Result Interest Result in € mil. Interest Result down by € 2.2 mil. – Interest income influenced by 6.6 3.9 unrealized foreign currency effects on non-Euro denominated deposits -5.6 -7.8 -11.7

  17. Slide 17: Comparison of Old and New Segments

    Slide 33 Agenda Financials Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Q1 2004 Presentation Slide 34 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Comparison of Old and New Segments Revenues in € mil. Q1 2003

  18. Slide 18: Comparison of Old and New Segments; Aviation Revenues

    Slide 35 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Comparison of Old and New Segments EBITDA in € mil. / Q1 2003 Assets as of Dec-31, 2003 (new EBITDA definition) (Intangibles + Property, plant and equipment) 93,9 1.972 Old 10,5 365 -0,5 99 140 Aviati

  19. Slide 19: Aviation – Revenue Increase Reduced by Special Effects

    Slide 37 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Aviation – Revenue Increase Reduced by Special Effects in € mil. Q1 2003 Q1 2004 ∆% Rise in: - Aviation fees and Revenues 131.4 136.4 3.8 % - Revenues EBITDA 22.7 21.2 -6.6 % from security services Seg

  20. Slide 20: Retail & Properties – Contribution to Group EBITDA Amounts to 72%

    Slide 39 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Retail & Properties – Contribution to Group EBITDA Amounts to 72% in € mil. Q1 2003 Q1 2004 ∆% Revenues 90.3 88.2 -2.3 % Decrease in revenues: EBITDA 76.5 71.5 -6.5 % – Lower rents for utility services

  21. Slide 21: Retail Revenues per PAX Slightly Down Because of Strong Euro

    Slide 41 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Retail Revenues per PAX Slightly Down Because of Strong Euro Revenues per Passenger Development €/USD in 2003 in € mil. € 2.38 per € 2.22 per PAX PAX 25.1 25.0 4.2 3.8 + 16.4 % 120 20 4.5 5.2 110 16.4

  22. Slide 22: Ground Handling – Rise in Revenues and Results

    Slide 43 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement Ground Handling – Rise in Revenues and Results in € mil. Q1 2003 Q1 2004 ∆ % Increased revenues despite loss of market Revenues 139.5 143.7 3.0 % share: EBITDA -0.6 5.3 – Rise in air traffic volume Seg

  23. Slide 23: External Activities – Increase in Revenues Mainly Due to ICTS Europe

    Slide 45 Profit & Loss Statement Segment Results Subsidiaries BalanceSheet and Cash Flow Statement External Activities – Increase in Revenues Mainly Due to ICTS Europe in € mil. Q1 2003 Q1 2004 ∆% Rise of revenues: Revenues 68.2 77.9 14.2 % – Higher revenues of ICTS Europe EBITDA 1.2 1.5 25.0 % – In

  24. Slide 24: ICTS Europe and Lima Airport

    Slide 47 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement ICTS Europe in € mil. Q1 2003 Q1 2004 ∆ % – Significant increase of Revenues(1) 54.7 66.7 21.9 % revenues due to new contracts in France, EBITDA(1) 3.7 3.8 2.7 % Spain & The Netherlands EBITDA margin

  25. Slide 25: Antalya Airport and Frankfurt-Hahn Airport

    Slide 49 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Antalya Airport in € mil. Q1 2003 Q1 2004 ∆% Passengers in mil. 0.7 1.0 34.0 % – Traffic in Q1 2004 +34.0% Movements in ‘000 5.7 6.7 16.5 % – Revenue performance affected by weak US$ against Revenues

  26. Slide 26: Balance Sheet

    Slide 51 Agenda Financials Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Q1 2004 Presentation Slide 52 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Balance Sheet in € mil. 31.12.03 31.03.04 ∆% Fixed assets 2,6

  27. Slide 27: Cash Flow and Unchanged Positive Outlook for 2004

    Slide 53 Profit & Loss Statement Segment Results Subsidiaries Balance Sheet and Cash Flow Statement Cash flow from operating activities and Free cash flow improved in € mil. (+68.3) (-177.0) (in brackets: Q1 2003) +1.1 (+130.6) +73.1 -43.6 - 29.2 (+607.0) (+585.1) 29.5 +610.8 +612.2 Free cash flow C

  28. Slide 28: Thank you for your attention!

    Thank you for your attention!

Fraport — Q1 2004 Earnings Presentation on 6ix