Fraport Group: Revenue and net profit up significantly in nine months of 2021

Thus, EBITDA clearly reached positive territory again, climbing to €623.9 million in the reporting period (9M/2020: minus €227.7 million). When adjusting the previous year’s 9M-EBITDA by the negative one-off effect resulting from personnel measures – and also adjusting this year’s 9M-EBITDA by the positive one-off effects mentioned above – the Group EBITDA still increased by €239.2 million to €291.0 million in the reporting period (9M/2020: €51.8 million on an adjusted basis). 

Including the one-off effects, Fraport clearly recorded a positive Group EBIT of €292.2 million in the first nine months of 2021 (9M/2020: minus €571.0 million). Group EBT improved to €152.6 million (9M/2020: minus €716.9 million). Fraport achieved a Group result (net profit) of €118.0 million in the reporting period, up from minus €537.2 million in 9M/2020.

Passenger traffic rebounds noticeably

Frankfurt Airport (FRA), Fraport’s home-base hub, welcomed a total of about 15.8 million passengers from January-to-September 2021. This represented a 2.2 percent decrease compared to the same period in 2020, as the Covid-19 pandemic only began to have a strong negative impact on traffic from mid-March onwards. When compared to the 2019 pre-crisis year, passenger numbers dropped by 70.8 percent in the first nine months of 2021. However, passenger traffic rebounded noticeably during the 9M/2021 reporting period, reaching around 45 percent of the pre-crisis level between June and September. Preliminary figures indicate that this trend also continued in October 2021, with passenger numbers soaring by 218 percent year-on-year to 3.4 million travelers (representing 53 percent of the level recorded in October 2019). The ongoing recovery was largely driven by holiday travel during the fall break in Germany. 

FRA’s cargo throughput (comprising airfreight and airmail) advanced by 24.3 percent year-on-year to 1.7 million metric tons in the first nine months of 2021. Thus, cargo traffic gained 8.6 percent compared to the same period in 2019. 

Across the Group, the airports in Fraport’s international portfolio also recorded a noticeable recovery in passenger traffic in the first nine months of 2021, versus the same period last year. In comparison to pre-crisis levels, Fraport’s Group airports worldwide still registered lower passenger figures. However, some Group airports serving high-demand tourist destinations – such as the Greek airports or Antalya Airport on the Turkish Riviera – saw traffic rebound to over 50 percent of pre-crisis levels. During the summer holiday season, these gateways even reached nearly 80 percent of the respective passenger volume recorded in 2019 – while exceeding more than 90 percent of pre-crisis levels according to the preliminary October 2021 figures.