Annual General Meeting-Fraport: The annual financial statements meet expectations: Proposed stable dividend 1.25 euros per share
The passenger service and the required expansion of the main focus of airport infrastructure – The airport is an important infrastructure facility and largest local employer in Germany
During the 13th Annual General Meeting of Fraport AG in Frankfurt-Höchst in Jahrhunderthalle, and CEO Dr. Stefan Schulte reported to shareholders the results of last financial year. In Frankfurt, moderate growth in passenger figures (up 0.9%) and cargo volume is reached (to 1.4%). “Compared with Germany and Europe as a whole, this puts us in a decent position, while real growth is currently occurring in other regions of the world,” Schulte said. In air transport, the nations in the Middle East and Far East showed more growth last year, with growth of 10 and 7% in passenger numbers respectively. Thanks to investment in airports and Lima in Peru, Saint Petersburg in Russia, Xi’an in China , Antalya in Turkey and Varna and Burgas in Bulgaria , the Fraport group participated in the good performance of the markets for international growth. To equip these airports for future growth, Fraport has invested in new terminals in St. Petersburg, Varna and Burgas. Airport Lima recently elected by the renowned consultancy Skytrax as the best airport in South America for the sixth consecutive time. For the fourth time, employees have been recognized as the best airport in South America staff.
Financial performance in 2013 met expectations: Adjusted income rose by 3.4%, mainly due to the increase in airport charges, increased revenues from retail and property of international companies. Group operating profit (EBITDA) grew at a rate somewhat higher as income, 3.7%, thanks to strong cost management. By contrast, the consolidated income fell 6.3%, as expected. This was due to a particularly high non-recurring income in financial asset management last year. However, cash flow was developed successfully, becoming positive again after many years of high investments in airport infrastructure. The dividend proposal of the executive and supervisory board is again 1.25 euros per share, which would maintain the dividend at a stable level since 2010.
Passenger service is still a priority. The “Great to have you here!” has long been a recognized benchmark of service quality “made by Fraport,” Schulte said, adding said. “Success proves that we are right 80% of our customers in Frankfurt positive comments on the quality of our airport and the friendliness of our staff and are satisfied with the service we provide. ” For example, last year highlighted Skytrax Frankfurt Airport between all airports in the world as the most progressive in terms of passenger comfort. Follow this direction is the explicit goal of the company. For this, Fraport also intends to deploy new technology consistently to meet the requirements of the passengers of mobile information. A good step in this direction was recently made ??with the relaunch of the Frankfurt Airport application.
In addition to hosting international passengers, Schulte said the airport also has another role to play as the most important and largest local employer infrastructure in Germany. The increase in traffic is directly linked to an increase in the number of airport employees. The major axis of air traffic in Germany provides employment for some 78,000 people in 500 firms and companies from the airport. Along with the supplier and service providers promoting the value chain, the airport says about 116,000 jobs, according to a new study. This represents 2.9% of all employees in Hesse, Schulte said, explaining the importance of the airport to the labor market in a wide area. Its importance to the German economy and its international trade relations are also immense. No other airport in Europe has a variety of routes and destinations that can be reached from Frankfurt . “German jobs depend in a great measure of export industries, and these in turn are based on good connections with the rest of the world. These are specific competitive advantages that ensure our prosperity here in Germany.” It is therefore important to continue to develop the airport infrastructure, as required:
First, allow more companies to base their operations in the city’s international airport and second, to address the problem of capacity expansion terminal bottlenecks before they arise, said Schulte.
In all decisions taken Fraport, one eye always gets on the regional responsibility of the company:
“Together with our partners in air transport will continue to take all operationally realistic for active and passive protection against noise opportunities,” said Schulte confirming the commitment to the airport neighboring communities.
For the current year, Fraport expects passenger growth of 2 to 3% in Frankfurt , while the position as the largest freight airport in Europe will continue. Because an amended accounting regulation, to January 1, 2014, the Group is not able to include joint ventures proportionately consolidated accounts, which for Fraport has a particular impact on investment in Antalya Airport. From now on, your earnings will be reported in the financial result of the Group, which will lead to a change in the figures reported in the current financial year. Compared to pro forma figures for 2013 retroactively adjusted figures, Fraport expects an increase in all key financial figures in 2014 consolidated revenues increase to 2,450 million euros (2013 pro forma: EUR 2.378 million).. Group EBITDA is expected somewhere between 780 and 800 million (pro forma 2013: 733 million euros), while the group EBIT increase to approximately EUR 500 million (pro forma 2013: 439 million euros ). The result of the Group is not affected by the new accounting standards and is expected to see a slight increase compared to fiscal 2013. Consequently, the proposed dividend will be at least at the level of the previous year.
For more information, contact:
Fraport AG Frankfurt Airport Services Worldwide Robert A. Payne – International Spokesman; Head of International Press and External Activities Team, Press Office (UKM-PS), Corporate Communications, 60547 Frankfurt, Germany; Tel: +49-69-690-78547; E-mail: r.payne @ fraport.de ; Internet: http://www.fraport.com
SOURCE Fraport AG