Q1 2025 Fraport Frankfurt Airport Services Worldwide AG Earnings Call Transcript
Key Points
- Passenger numbers showed a positive trend in April, with a 4.8% year-on-year increase at Frankfurt Airport.
- Lima Airport outperformed other airports in Q1 due to capacity additions by airlines, with further growth expected.
- The terminal expansion at Antalya Airport was successfully inaugurated, enhancing its capacity to handle up to 65 million passengers.
- The new wage agreement provides stability with a duration of 27 months, effective from January 1, 2025.
- Retail spend per passenger increased, with advertising revenues growing by more than EUR1 million compared to last year.
- Total revenues were down by around 2% in Q1 2025, with a negative group result of minus EUR26 million.
- The financial result was negatively impacted by lower traffic numbers in Antalya and exchange rate-driven deferred tax effects.
- Operational cash flow decreased to EUR12 million in Q1 due to higher interest payments and concession fees.
- Net debt increased to more than EUR8.6 billion, reaching the peak for the year.
- The new labor agreement is expected to cost EUR40 million to EUR50 million this year for Frankfurt operations.
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Welcome ladies and gentlemen to our Q1 2025 analyst presentation. I am happy to guide you through the presentation this Tuesday morning already for the first time. Later today at 2:00 PM clock we have our conference call as usual to answer all your questions.
On my first slide for today, I would like to start with the traffic performance at our group airports in the first quarter of fiscal year 2025 and the recent development in April.
On slide number 3, you see our reported passenger numbers for January to March as the white bars and the April traffic performance displayed as blue bars. The gray and green numbers in the bar above the graph show you that we had a mixed start to the year within our portfolio. However, when looking at the recent numbers, we see a positive trend for nearly all group airports.
But let us look at the airports one by one, starting with Frankfurt. The slight reduction in passengers of 0
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