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Fraport Annual General Meeting 2022: Shareholders Approve All Agenda Items

Written by Dmytro Makarov

Some 1,000 participants followed the live-stream AGM

At Fraport AG’s ordinary Annual General Meeting (AGM), which was held today (May 24) in a virtual-only format again, shareholders approved all agenda items.

Shareholders ratified the actions of the company’s executive and supervisory boards for fiscal year 2021 (ending Dec 31), by 99.58 percent and 94.27 percent, respectively. In addition, 84.78 percent of shareholders newly elected Dr. Bastian Bergerhoff – the City of Frankfurt’s treasurer and department head for finance, investments and personnel – to Fraport’s supervisory board.

Some 1,000 participants followed this year’s AGM via live stream – representing 76.19 percent of Fraport AG’s capital stock. Michael Boddenberg, who chairs Fraport’s supervisory board and also serves as the State of Hesse finance minister, officially opened the AGM at 10:00 a.m. CEST and concluded the proceedings at 2:07 p.m.

Fraport AG’s regular Annual General Meeting (AGM) for shareholders began at 10:00 a.m. CEST on May 24, as scheduled. Due to the coronavirus pandemic, this year’s AGM is again being held via a virtual-only format. A total of 50 questions were submitted in advance by the company’s shareholders. These questions will be answered during the AGM by Fraport AG’s supervisory board chairman, Michael Boddenberg (who also serves as the State of Hesse finance minister), and the Fraport executive board. Shareholders or their authorized representatives can exercise their rights via Fraport’s AGM online portal.

In his speech to the AGM, Fraport AG’s CEO, Dr. Stefan Schulte, highlighted the achievements of the past business year, while taking an optimistic view overall of the next few months: “The year 2021 has shown that we have bottomed out and are now climbing back up step-by-step in terms of traffic volumes. At Frankfurt we are getting ready for a busy summer. We expect to attain between 70 and 75 percent of the pre-crisis traffic level. Now that restrictions on intercontinental destinations are gradually falling away, we are starting to observe a revival of business travel. This year, however, tourism will be the main driver at Frankfurt again. Also at the Group’s airports outside Germany, we once again expect passenger volumes to rebound dynamically. Currently, the war in Ukraine and associated sanctions on passenger and cargo flows have only had a small impact on Frankfurt and our other Group airports.”

CEO Schulte also expects the Group’s key financial figures to be clearly positive for the current 2022 business year, driven by an ongoing recovery in passenger demand: “The Group result or net profit is expected to range between about 50 million euros and 150 million euros. This will depend on how Russia’s aggression ultimately impacts our figures.”

Because of continuing effects of the Covid-19 pandemic and the still challenging operating environment, Fraport will not pay a dividend again. Instead, Fraport will use the profits gained to further stabilize the company. The AGM agenda, a transcript of the CEO’s speech, and further information are available on Fraport’s website.

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Dmytro Makarov

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