Fraport Ag Frankfurt Akt (FPRUF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, ladies and gentlemen, to our pre-recorded nine-month analyst presentation. Matthias and I are looking back at a very eventful and, at the same time, very successful nine-month period. One of the key highlights, certainly, was the regulatory approval of our major construction site, Terminal 3 in Frankfurt. I am on slide number three. So, completely approved. we are officially at least ready to start. It fills me and the entire Fraport team with pride that Frankfurt Airport is now ready for future growth. I will come back on the remaining steps until the opening of the terminal in a minute. But let's focus on the other key areas of the past period first. In combination with the progress in Frankfurt, we also completed and opened the first phase of the new Lima terminal in June and added new terminal capacities in Antalya in April. Besides the CapEx projects, we are also pleased with the last summer season. Frankfurt Airport showed a solid growth rate of around 3%, while our passengers and airline customers at the same time perceived better operational quality compared to the previous year. During the summer season, key international group airports also achieved record levels in Q3 and on a year-to-year base. As a result of the operational growth, we recorded an all-time high EBITDA in the third quarter and received record inflows. Consequently, free cash flow was the highest ever achieved by our company in the third quarter. despite continued outflows for Terminal 3 and the new Lima Terminal in the amount of around €150 million. Having said this, we are well on track to deliver on all our financial targets set for fiscal year 2025. Taking now a look at our key financial highlights for the third quarter on slide number 4, while Headline revenues of 1.35 billion...