Analyst Presentation Q May 7, 2015 Dr Matthias Zieschang, CFO

Transcription

1 Analyst Presentation Q May 7, 2015 Dr Matthias Zieschang, CFO

2 Slide 2 Disclaimer This document has been prepared by Fraport solely for use in this presentation. The information contained in this document has not been independently verified. No representation or warranty whether express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained therein. Neither the company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither this document nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This document contains forwardlooking statements that are based on current estimates and assumptions made by the management of Fraport to the best of its knowledge. Such forwardlooking statements are subject to risks and uncertainties, the nonoccurrence or occurrence of which could cause the actual results including the financial condition and profitability of Fraport to differ materially from or be more negative than those expressed or implied by such forwardlooking statements. This also applies to the forward looking estimates and forecasts derived from thirdparty studies. Consequently, neither the company nor its management can give any assurance regarding the future accuracy of the opinions set forth in this document or the actual occurrence of the predicted developments. By accepting this document, you agree with the foregoing.

3 Slide 3 Agenda News on T3 Traffic Insight Q1 Financials Outlook 2015

4 Slide 4 News on T3 Decision to construct taken by Supervisory Board Floor space ca. 90,000 sqm Equivalent to 19 Football fields Height of Terminal inside 20m, outside 33m above ground level Length Pier H: 400m Length Pier J: 600m 24 gate positions at the building 4 CheckinAreas with 100 counters 18 Security control lanes for O&D 11 Security control lanes for transfer 10 luggage conveyor belts

5 Slide 5 News on T3 Apron Infrastructure already under Construction Market Place Security CheckIn Train Parking T3 apron area: Constructed: 780,000 sqm To be built: 555,000 sqm

6 Slide 6 News on T3 Road and Train Access

7 Slide 7 News on T3 Main Hall

8 Slide 8 News on T3 Timeframe Excavation work Start of structural work Technical & operational tests Inauguration

9 Slide 9 Agenda News on T3 Traffic Insight Q1 Financials Outlook 2015

10 Slide 10 Traffic Insight Frankfurt Airport March 2015 % Q % FY 2014 Passengers* in `000 4, , ,566 Movements 37, , ,026 MTOW in `000 tons 2, , ,958 Cargo** in `000 tons ,132 90% 85% 80% Seat load factor Q Q Passenger per movement +6.6 Pax 75% 70% 65% 60% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Passenger guidance FY2015: 23% upside * Source ACI, commercial traffic only ** Freight & Mail

11 Slide 11 Traffic Insight Traffic Shares at FRA March 2015 Western Europe Domestic Eastern Europe 40% 12% 8% +2% +2% +1% North America 12% Frankfurt Airport Far East 13% +1% +5% Middle East 6% +7% Latin America 5% +3% Africa 4% +4% Traffic Share Delta absolute vs. previous year in % Continental 60% +2% Intercontinental 40% +4%

12 Slide 12 Traffic Insight Group Traffic Figures (above 10% stake) IATA Code Airport Share March 2015 previous year YTD 2015 previous year FY 2014 CAGR FRA Frankfurt, Germany 100% 4, % 12, % 59, % LJU Ljubljana, Slovenia 100% % % 1, % LIM Lima, Peru 70% 1, % 4, % 15, % BOJ Burgas, Bulgaria 60% % % 2, % VAR Varna, Bulgaria 60% % % 1, % AYT Antalya, Turkey 51% 1, % 2, % 27, % LED St. Petersburg, Russia 35.5% % 2, % 14, % HAJ Hanover, Germany 30% % % 5, % XIY Xi an, China 24.5% 2, % 7, % 29, %

13 Slide 13 Agenda News on T3 Traffic Insight Q1 Financials Outlook 2015

14 Slide 14 Group P&L Q Topline Growth translates into Bottomline mil. Q1 15 Q1 14 % Revenue excl. IFRIC EBITDA EBIT EBT Group result EPS in % 25% EBITDA margin +0.7PP 26.6% 25.9% EBIT margin +0.7PP 12.5% 11.8% Comments Traffic, prices, and retail drove revenue in Frankfurt Positive effects from new Group companies Airmall and Ljubljana Lima with positive US$ effect EBITDA and EBIT sharply up, despite additional opex Negative financial result impact from market valuation of CHF loan Good performance of Group result EPS at % Q Q Q Q Percent change based on unrounded figures

15 Slide 15 Group P&L Q External Activities key Driver for lift in Group EBITDA + 19 mil. mil EBITDA Q Likeforlike revenue ex. IFRIC 12 Revenue Airmall & Ljubljana IFRIC 12 revenue Other revenue Cost of materials ex. IFRIC 12 IFRIC 12 cost of materials Staff cost Other opex EBITDA Q Segment share in Group EBITDA Q Segment share in Group EBITDA Q Ground Handling: negative External Activities & Services 17.9% Aviation 22.1% 60.0% Retail & Real Estate External Activities & Services 21.8% Ground Handling: negative 20.0% 58.2% Aviation Retail & Real Estate Due to commercial rounding slight discrepancies may occur when summing up.

16 Slide 16 Group P&L Q Positive EBITDA led to increase in Group result mil. + 5 mil Group result Q EBITDA D&A Financial result Taxes Group result Q EPS Q EPS Q mil Q1 15 Q1 14 % Interest income Interest expenses Split of financial result At equity result Other result 9 3 Financial result Comments Lower interest rate led to lower income and expenses Split of at equity result: Antalya due to seasonal business at 13m No Pulkovo effect despite positive interim result due to cumulated losses Xi an result flat Negative other financial result due to market valuation of CHF loan Due to commercial rounding slight discrepancies may occur when summing up.

17 Slide 17 Group Asset & Financial Situation Q1 FCF improves Asset & Financial Situation FCF 1 2 Liquidity Gross debt Net debt Equity Gearing mil. 4,238 4,192 2,987 3,013 3,341 3,286 95% 97% ,251 1,180 March 31, 2015 Dec. 31, 2014 Increase in FCF from operating cash flow Capex at previous year level Q1 DVD inflow as planned below 2014 level Liquidity in line with FCF up Growing gross debt also due to accrued interest expenses FCF led to decline in net debt Net debt below 3 bn. Equity exceeded 3.3 bn. Gearing ratio at ~95% Outlook 2015: FRA capex: slightly above 2014 level Ongoing strong positive FCF 1) FCF predividend payout; figures correspond to Q1 figures 2) Net debt divided by equity less noncontrolling interests and profit earmarked for distribution

18 Slide 18 Group Cash Flow Statement Capex Split & DVD inflows mil. Operating cash flow Intangible assets PPE Airport operating projects Investment property DVDs from investments Free cash flow Cash Flow Q Cash Flow Q Sound OCF improvement from operational performance and change in working capital Stable q1 capex despite T3 preparations Less DVDs from AYT received Strong FCF improvement driven by OCF Due to commercial rounding slight discrepancies may occur when summing up.

19 Slide 19 Segment Aviation Revenue Increase offset by Cost Inflation mil. Q1 15 Q1 14 % Revenue Airport charges Security serv. Other EBITDA EBIT Employees 5,976 6, Comments Revenue increase due to FRA traffic & price increase as of Jan. 1, 2015 Slight increase in security revenue from price & volume More staff costs and cost of materials led to flat Q1 result 20% EBITDA margin 0.7PP 15.3% 16.0% EBIT margin 0.7PP Revenue split Q Other 4.9% Security services 13.3% 10% 0% 0.1% 0.8% Q Q Q Q Security charges 4.4% Parking charges 5.9% Landing charges 7.3% Noise charges 11.0% 53.2% Passenger charges Percent change based on unrounded figures

20 Slide 20 Segment Retail & Real Estate Strong Increase from Retail Business mil. Q1 15 Q1 14 % Revenue Retail Real Estate Parking Other EBITDA EBIT Employees Comments All revenue streams with positive Q1 performance Key driver for Q1 result: Retail Revenue growth directly transferred into EBITDA and EBIT, which showed a sharp increase 90% 60% 30% 0% EBITDA margin +1.2PP 78.6% 77.4% EBIT margin +2.1PP 60.2% 58.1% Q Q Q Q Revenue split Q Other 1.1% Parking 16.8% Real Estate 41.2% 40.9% Retail Percent change based on unrounded figures

21 Slide 21 Segment Retail & Real Estate Spend per Pax at Alltime Q1 High Retail revenue per Passenger Q1 12: 3.40 Q1 13: 3.74 Q1 14: 3.69 Q1 15: mil. Shopping Services Advertis. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q

22 Slide 22 % Segment Retail & Real Estate Strong Rebounce in Retail Destination Development Passengers in Q Volume change in % China Japan Russia Korea Brazil vs. Q1 14 USA Germany Turkey Canada India Destination Development Retail Revenue/Passenger in Q12015 % Revenue/ passenger change in % China Japan Russia Korea Brazil vs. Q1 14 USA Germany Turkey Canada India

23 Slide 23 Segment Ground Handling Slight improved Financials, Bottomline still in the Red mil. Q1 15 Q1 14 % Revenue Ground Handl. Infrastructure EBITDA 0 3 EBIT Employees 9,505 9, Comments Price & volume led to growth in infrastructure revenue Ground Handling revenue showed slight increase from MTOW Despite higher staff cost EBITDA with slight gain over PY EBIT still negative 10% EBITDA margin PP EBIT margin PP Revenue split Q % 0% % % % % Q Q Q Q Central Infrastructure 42.9% Ground Handling 57.1% Percent change based on unrounded figures

24 Slide 24 Segment External Activities & Services Growth from Lima and new Operations mil. Q1 15 Q1 14 % Revenue excl. IFRIC EBITDA EBIT Employees 4,550 4, Comments Ongoing growth in Lima supported by US$ effect Firsttime Q1 consolidation of Airmall and Ljubljana (figures displayed on next slide) Off season in Varna & Burgas Solid increase in EBITDA and EBIT EBITDA margin 1.7PP EBIT margin 0.7PP Revenue split Q % 20% 31.1% 32.8% 12.1% 12.8% Others Twin Star 1.8% 20.3% Ljubljana 6.3% 59.1% Lima 0% Q Q Q Q Airmall 12.5% Percent change based on unrounded figures

25 Slide 25 External Activities Fully consolidated Investments 1 Airmall 2 Ljubljana 2 Lima Twin Star mil. Q1 15 Q1 14 % Q1 15 Q1 14 % Q1 15 Q1 14 % Q1 15 Q1 14 % Revenue ex IFRIC EBITDA margin adjusted % % % 38.2% % 38.4% EBIT margin adjusted 1 4.5% % 30.8% % 30.9% Result Passengers in mil ) Figures refer to IFRS accounting, not local GAAP, percent changes based on unrounded figures. 2) Airmall and Ljubljana since inclusion in Fraport Group.

26 Slide 26 External Activities At Equity consolidated Investments Antalya Pulkovo Hanover Xi An mil. Q1 15 Q1 14 % Q1 15 Q1 14 % Q1 15 Q1 14 % Q1 15 Q1 14 % Revenue ex IFRIC EBITDA margin adjusted % % % 44.0% % 19.1% > % 3 8.7% % % 40.1 EBIT margin adjusted % 21.1% % % 68.1 Result Passengers in mil Except for Xi an all figures refer to IFRS accounting, percent changes based on unrounded figures.

27 Slide 27 Agenda News on T3 Traffic Insight Q1 Financials Outlook 2015

28 Slide 28 Outlook 2015 Unchanged Outlook! Strike risk could impact traffic and financial outlook Outlook 2014 Result Outlook 2015 Passengers FRA growth between 2% and 3% +2.6% growth between 2% and 3% Revenue revenue growth up to ~ 2.45 bn. 2.4 bn. revenue between ~ 2.55 and ~ 2.6 bn. EBITDA between ~ 780 and ~ 800 mil. 790 mil. between ~ 820 and ~ 840 mil. EBIT growth up to ~ 500 mil. 483 mil. between ~ 500 and ~ 520 mil. Group Result* slightly above mil. between ~ 265 and ~ 285 mil. Dividend proposal at least stable 1.35 stable *Group Result before minorities

29 Thank you for your Attention!

30 Slide 30 Group P&L Q1 2015

31 Slide 31 Group Cash Flow Statement Q1 2015

32 Slide 32 Group Financial Position as at March 31, 2015

33 Slide 33 Special & Extraordinary Effects Q mil. Q1 15 Q1 14 Group financial result Market valuation of derivatives & F/X fluctuations Segment External Activities IFRIC 12 revenue Airmall revenue 13.4 Airmall EBITDA 2.7 Airmall EBIT 0.6 Ljubljana revenue 6.8 Ljubljana EBITDA 1.7 Ljubljana EBIT 0.8

34 Slide 34 Financial Position Maturity Profile & Cash Position as of March 31, 2015 mil. Fraport debt conditions on average ~ 3.6 % interest rate ~ 5.0 years maturity

35 Investor Relations Team Contact Details Fraport AG Frankfurt Airport Services Worldwide Frankfurt am Main Stefan J. Rüter Head of Finance & Investor Relations Svenja Ebeling Investor Relations Assistant Marc Poeschmann Manager Investor Relations Florian Fuchs Manager Investor Relations & Financial Reporting Tanja Nagel Manager Investor Relations & Financial Reporting