UBS Global Transport, Travel & Leisure Conference 2015

Transcription

1 UBS Stefan J. Rueter Head of Finance & IR Marc Poeschmann Investor Relations

2 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 forward-looking statements that are based on current estimates and assumptions made by the management of Fraport to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence 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 forward-looking statements. This also applies to the forward looking estimates and forecasts derived from third-party 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 3 Agenda - Traffic Insight - Details on T3-6M2015 & Outlook 2015

4 4 Traffic Insight Frankfurt Airport Aug 2015 % YTD 2015 % FY 2014 Passengers in `000 6, , ,566 Movements 42, , ,026 MTOW in `000 tons 2, , ,958 Cargo in `000 tons , ,132 90% 85% 80% Seat load factor YTD 2015 YTD 2014 Passenger per movement +5.4 Pax 75% 70% 65% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Passenger guidance FY2015: 2-3% upside Passenger figures according to ACI, commercial traffic only; cargo includes air freight and air mail

5 5 Traffic Insight Frankfurt Airport Passenger Flows YTD 2015 Western Europe Domestic Eastern Europe North America 42% +4% 11% +6% 9% +5% 13% +2% Latin America 4% +2% Frankfurt Airport Africa 4% +4% Middle East 5% +7% Far East 11% +7% Continental Intercontinental Traffic Share YTD vs. previous year 63% +5% 37% +5%

6 6 Traffic Insight Group Passenger Development (stakes above 10%) IATA Code Airport Share Aug 2015 previous year YTD 2015 previous year FY 2014 CAGR FRA Frankfurt, Germany 100% 6, % 41, % 59, % LJU Ljubljana, Slovenia 100% % % 1, % LIM Lima, Peru 70% 1, % 11, % 15, % BOJ Burgas, Bulgaria 60% % 1, % 2, % VAR Varna, Bulgaria 60% % 1, % 1, % AYT Antalya, Turkey 51% 4, % 19, % 27, % LED St. Petersburg, Russia 35.5% 1, % 9, % 14, % HAJ Hanover, Germany 30% % 3, % 5, % XIY Xi an, China 24.5% 3, % 21, % 29, %

7 7 Traffic Insight Accumulated Group Passenger Development since 2009 (stakes above 10%) in % Russia, China & Peru booming since 2009 FRA with 17% doing well LED +111% XIY +91% LIM +78% AYT +50% BUL +35% FRA +17% HAJ +6%

8 8 Agenda - Traffic Insight - Details on T3-6M2015 & Outlook 2015

9 9 Details on T3 Traffic Forecast of Passengers FRA until 2030 Passengers per year in mil. 90,0 Forecast Intraplan Capacity restriction 85,0 Forecast MKmetric > 80 80,0 75,0 > 70 > 75 > 75 > 80 70,0 65,0 60,0 55,0 68 mil. Passengers per year (temporary overload) 64 mil. Passengers per year (dedicated capacity) 58 > 60 > 60 > 65 > 65 > 70 Pier A-Plus (2012) Hall C and CD-Pier (2007) 50,0 Capacity T1+T2 45, Year

10 10 Details on T3 Decision to construct T3 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 Check-in-Areas with 100 counters 18 Security control lanes for O&D 11 Security control lanes for transfer 10 luggage conveyor belts Capex budget bn. in total

11 11 Details on T3 Apron Infrastructure already under Construction Market Place Security Check-In Train Parking T3 apron area: Constructed: 780,000 sqm To be built: 555,000 sqm

12 12 Details on T3 Road and Train Access

13 13 Details on T3 Main Hall Impression

14 14 Agenda - Traffic Insight - Details on T3-6M2015 & Outlook 2015

15 15 6M2015 & Outlook 2015 Top-line Growth translates into Bottom-line P&L in mil. 6M 15 6M 14 % Revenue 1,242 1, excl. IFRIC 12 1,235 1, EBITDA EBIT EBT Group result EPS in Comments Growing revenue in all segments Good performance in EBITDA & EBIT, despite lower other income and higher opex Financial result improvement, despite negative effect from CHF loan valuation Group result and EPS with double-digit growth Revenue by segment in mil. EBITDA by segment in mil. 1, , Revenue 6M 2014 Aviation Retail & Real Estate Ground Handling External Activities & Services Revenue 6M 2015 EBITDA 6M 2014 Aviation Retail & Real Estate Ground Handling External Activities & Services EBITDA 6M 2015 Due to commercial rounding slight discrepancies may occur when summing up, percent changes based on unrounded figures

16 16 6M2015 & Outlook 2015: Group Asset & Financial Situation Higher OCF and lower Capex improved FCF by 76% Operating cash flow Intangible assets PPE Airport operating projects Investment property DVDs from investments Free cash flow mil M M 2014 YTD development OCF due to improved earnings 71 mil. up Lower FRA capex supported FCF Other spending on 2014 level FCF of 190 mil. clearly exceeded DVD payout of 125 mil Outlook Capex will maximum be slightly above 2014 level FCF expected to exceed 10% of net debt Including DVD payout, FCF will lead to deleverage at high single digit percentage point level subject to Greek airport deal Due to commercial rounding slight discrepancies may occur when summing up

17 17 6M2015 & Outlook 2015: Retail & Real Estate Spend per Pax 6% above Previous Year All Time High Retail revenue per Passenger 6M 12: M 13: M 14: M 15: ,40 3,10 2,95 3,95 3,74 3,42 3,24 4,11 3,95 3,93 3,69 3,22 3,41 3,04 FY 12: 3.32 FY 13: 3.60 FY 14: 3.43 mil. Shopping Services Advertis. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q

18 18 6M2015 & Outlook 2015: Retail & Real Estate Development of Core Spending Destinations Volume Development % Change in % 2 China Japan Russia Korea Brazil vs. 6M 14 USA Germany Turkey Canada India -14 Retail Revenue per Passenger % Change in % 9 China Japan Russia Korea Brazil vs. 6M 14 USA Germany Turkey Canada India -8-20

19 19 6M2015 & Outlook 2015 Unchanged 2015 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. Group result slightly above mil. between ~ 500 and ~ 520 mil. between ~ 265 and ~ 285 mil. Dividend proposal at least stable 1.35 stable Group result before minorities

20 20 Appendix IR Contact 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

21 21 Thank you for your Attention!