April 6, Roadshow Luxembourg. Tanja Nagel / IR Florian Fuchs / IR

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Transcription:

April 6, 2018 Roadshow Luxembourg Tanja Nagel / IR Florian Fuchs / IR

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. 2

Agenda - Financial Highlights - Traffic Performances - Business Update - 2018 Outlook - Detailed Financials 3

Financial Highlights Solid underlying Growth mil. Revenue EBITDA Group result before minorities 2,935 2,586 1,054 1,003 400 853 1 296 1 360 FY 2016 FY 2016 FY 2016 Strong Group-wide traffic performances support earnings growth Sharp increase in revenue also due to first-time contribution of Fraport Greece Key driver for EBITDA performance: International Activities Strong increase in underlying Group result also due to Antalya EPS Outlook at EUR fulfilled. 3.57, Underlying 2016: EUR EBITDA 4.07 at ~ 851 mil. & Group result at ~ 293 mil. Stable dividend of EUR 1.50 per Share, pay out of: 42% 1 w/o Manila payments, St. Petersburg book gain, staff-related provision, FraSec and Airmall write-downs 4

Agenda - Financial Highlights - Traffic Performances - Business Update - 2018 Outlook - Detailed Financials 5

Traffic Performances Passenger Momentum remains robust Airport operations Fraport Share FEB 2018 D previous year YTD 2018 D previous year FY 2017 D previous year Frankfurt 100% 4,365 +8.5% 8,914 +8.0% 64,500 +6.1% Brasil 100% 1,054 +6.1 2,355 +3.0% 13,939 +4.4% Ljubljana 100% 99 +10.2% 200 +11.3% 1,683 +19.8% Greek regionals 73.4% 517-8.8% 1,067-6.9% 27,583 +10.3% Lima 70.01% 1,708 +9.6% 3,539 +9.6% 20,607 +9.3% Twin Star 60% 61 +62.2% 134 +74.1% 4,953 +8.4% Antalya 51% 694 +15.5% 1,494 +17.0% 26,346 +38.5% Hanover 30% 318 +11.1% 639 +9.0% 5,870 +8.5% St. Petersburg 25% 954 +6.3% 2,033 +8.1% 16,125 +21.6% Xi an 24.5% 3,497 +8.9% 6,805 +4.4% 41,856 +13.1% 6

Agenda - Financial Highlights - Traffic Performances - Business Update - 2018 Outlook - Detailed Financials 7

Business Update Greece Good first operational year Passenger growth recorded among all 14 airports Combined volumes up >10% Operational quick wins implemented Main construction works now starting: Half of the airports to be ready in 2019: Zakynthos, Kavala and Chania (before Summer), Kefalonia, Aktio, Samos and Skiathos (post Summer) Airports to be completed in 2020: Mytilini, Kos, Rhodes and Santorini Final round of airports to be ready for summer 2021: Thessaloniki, Corfu and Mykonos New Thessaloniki Terminal New Kavala Terminal 8

Business Update Brazil Smooth operational transfer of POA and FOR airports on Jan. 2 nd, 2018 Highly motivated staff Main construction works awarded to EPC company Currently: implementation of quick-wins and start of construction work 9

Business Update Frankfurt Summer Season 1 Movements to grow around 9%, main driver: Europe +11%, Intercont: slight growth between 2 and 3% 2 Seat capacities to grow between 7 and 8%, main driver also here: 3Strongest Europe, Intercont with slight growth growth by Lufthansa & Ryanair (Europe). Intercont: Lufthansa & Condor New Summer Schedule as of March 26, 2018 10

Business Update Terminal 3 Special excavation works progress as planned Building application for Pier G filed Tender for people mover system concluded Tendering of Piers H & J underway 11

Agenda - Financial Highlights - Traffic Performances - Business Update - 2018 Outlook - Detailed Financials 12

2018 Outlook Ongoing Operational and Financial Growth 2017 Results 2018 Outlook Passengers FRA 64.5 mil. Between ~67 mil. and ~68.5 mil. Revenue excl. IFRIC 12 2.89 bn Up to ~ 3.1 bn EBITDA EBIT Group result before minorities 1,003 mil. 643 mil. 360 mil. Between ~ 1,080 mil. and ~ 1,110 mil. Between ~ 690 mil. and ~ 720 mil. Between ~ 400 mil. and ~ 430 mil. Dividend proposal 1.50 / share Increase 13

Agenda - Financial Highlights - Traffic Performances - Business Update - 2018 Outlook - Detailed Financials 14

Detailed Financials Group Results 15 P&L in mil. FY 17 FY 16 % Revenue 2,935 2,586 +13.5 -excl. IFRIC 12 2,893 2,566 +12.7 Total revenue 3,010 2,954 +1.9 EBITDA 1,003 1,054-4.8 D&A 360 360 0.0 EBIT 643 694-7.3 Interest result -158-107 - At equity result 31-4 >100 Other financial result -10-1 - Financial result -137-112 - EBT 506 581-13.0 Taxes on income -146-181 -19.2 Group result before minorities 360 400-10.1 Minority result 30 25 +18.5 Group result after minorities 330 375-12.0 EPS in, basic 3.57 4.07-12.3 Segment share in Group revenue FY 2016 21% 35% 28% 32% 19% 18% 25% 22% Aviation GH Retail & RE Int. Activities Segment share in Group EBITDA FY 2016* 24% 27% 4% 32% 25% 5% 45% 38% Aviation GH Retail & RE Int. Activities *Adjusted for Manila and St. Petersburg one-offs

Detailed Financials EBITDA Bridge Main Effects 1 Specials: -199m Manila - 40m St. Petersb. + 38m Restructuring EBITDA: -201m FRA: EBITDA: +28m +63m Revenue -18m Wages - 7m Restructuring - 6m Land sale cost - 4m Other Intl : +117m Greece + 9m Lima + 1m Ljubljana + 1m USA - 12m Brazil - 1m Twin Star + 7m Other EBITDA: +122m in mil. 1,054-201 +117 +10-12 7 1,003 853 +24 +5 +5 +17 +12-18 -7-6 -4 EBITDA FY 2016 Special effects 2016 EBITDA adjusted Av. charges Retail Parking Real GH FRA FRA Land Other Greece Other Wages sale intl cost Activties Estate & land sales Staff Restruct. Provision Brazil start up Other EBITDA 16 1 w/o consideration of Security services Due to commercial rounding slight discrepancies may occur when summing up

Detailed Financials Group Result Bridge Main Effects Interest result: -49m Greece, of which -32m Interest on loans -17m Non-cash interest on cap. concession obligation - 2m Other EBT: -51m Associated investments: + 32m Antalya + 3m Other EBT: +35m Other financial result: -10m Lima Bond buy-back + 1m Other EBT: -9m in mil. 1,003-360 643-112 -51 +35-9 506-146 360 EBITDA D&A EBIT Financial result 2016 Interest result Associated companies Other financial result EBT 2017 Taxes Group result 17 Due to commercial rounding slight discrepancies may occur when summing up

Detailed Financials Cash Flow & Net Debt in mil. +1,234 Effects lowering net debt Effects increasing net debt +242-75 3,512 2,356-791 +103 +77 +19 +202-3 +148 2,111 Free Cash Flow: 393m Net debt FY 2016 OCF Capex T3 Greece Capex 1 Capex Lima Other Capex Dividends from associated companies Dividends paid Net debt before acquisitions Greece upfront payment Brazil initial payments Misc.: Greece consolidation, F/X & other effects Net debt Comments mil. FY 17 FY 16 % 18 Strong increase in OCF mainly due to Greece Free Cash Flow reaching all-time high, despite increase in Capex Greece & Brazil upfront payments reflected in higher indebtedness and Gearing ratio Group equity above 4.0 bn., +5% Equity ratio at 34%; FY 2016: 41% Operating cash flow 791 583 +35.6 Capex² 401 306 +31.0 Free cash flow³ 393 302 +30.3 Net debt 3,512 2,356 +49.1 Equity 4,029 3,841 +4.9 Gearing ratio 94% 65% +29PP 1 = Including prepayment to EPC company 2 = Capex in airport operating projects, other intangible assets, PPE, investment property, and at equity investments. No consideration of one-time payments for acquisitions. 3 = Operating cash flow Capex + Dividends from at equity investments

Detailed Financials Aviation in mil. Increasing effects Decreasing effects 218 +24 +14 +5-3 -3-5 250-118 132 EBITDA FY 2016 Aviation charges* Security services Other revenue Other income Staff cost Other opex EBITDA D&A EBIT Comments P&L in mil. FY 17 FY 16 % Higher airport charges due to prices & traffic growth Security services up due to volumes & Berlin contract Increase in staff cost from security business (~ 8m), remaining staff cost down due to lower number of employees & less provisions for staff restructuring created (2017: ~ 2m vs. 2016: ~ 9m) Price effect on parent company wages: ~ 4m Good translation of revenue into EBITDA growth Revenue 954 910 +4.8 - Airport charges* 780 756 +3.2 - Security services 127 113 +13.2 - Other revenue 47 42 +11.0 EBITDA 250 218 +14.5 EBIT 132 70 +87.1 Employees 5,881 6,048-2.8 19 *Aviation charges including reimbursements to airlines based on growth incentives Due to commercial rounding slight discrepancies may occur when summing up, percent changes based on unrounded figures

Detailed Financials Retail & Real Estate in mil. Increasing effects Decreasing effects 368 +5 +2 +6 +15-3 -1-14 378-84 294 EBITDA FY 2016 Retail Real Estate Parking Other revenue Other income Staff cost Other opex EBITDA D&A EBIT 20 Comments P&L in mil. FY 17 FY 16 % Retail revenue up due to higher passenger volumes Average Retail revenue per passenger 3.4% down at 3.37 due to F/X & high continental passenger growth More parking revenue due to volumes & prices Higher other revenue / opex from land sales More opex also from invest. that were not capitalized Price effect on parent company wages: ~ 1m Solid EBITDA & EBIT performances Revenue 522 494 +5.6 - Retail 206 201 +2.7 - Real Estate 194 192 +1.2 - Parking 87 81 +6.5 - Other revenue 35 20 +73.6 EBITDA 378 368 +2.6 EBIT 294 284 +3.6 Employees 651 645 +0.9 Due to commercial rounding slight discrepancies may occur when summing up, percent changes based on unrounded figures

Detailed Financials Ground Handling in mil. Increasing effects Decreasing effects 35 +6 +8-3 +4 +4 51-39 -3 12 EBITDA FY 2016 Infrastructure charges GH revenue Other revenue Other income Staff cost Other opex EBITDA D&A EBIT Comments P&L in mil. FY 17 FY 16 % Slight increase in revenue due to volume growth Staff cost down due to lower number of employees and less provisions for staff restructuring created (2017: ~ 3m vs. 2016: ~ 19m). Price effect on parent company wages: ~ 7m Slight improvement in non-staff costs EBITDA & EBIT up Revenue 642 630 +1.8 - Ground Handling 324 316 +2.6 - Infrastructure 305 299 +1.9 - Other revenue 13 16-14.6 EBITDA 51 35 +48.1 EBIT 12-6 - Employees 8,600 8,649-0.6 21 Due to commercial rounding slight discrepancies may occur when summing up, percent changes based on unrounded figures

Detailed Financials International Activities & Services EBITDA in mil. Increasing effects Decreasing effects 434 +9-1 +1 +1 +117-239 +3 325-119 206 EBITDA FY 2016 Lima Twin Star Ljubljana USA Greece Manila & Other EBITDA D&A EBIT St. Petersburg 2016 effects Comments P&L in mil. FY 17 FY 16 % First-time contribution of Fraport Greece Strong Lima performance, despite negative H2 F/X Revenue 817 552 +48.1 - excl. IFRIC 12 775 532 +45.8 22 EBITDA & EBIT down, due to absence of ~ 239m Manila & St. Petersburg one-offs Start up cost for Fraport Brasil: ~ 12m Price effect on parent company wages: ~ 6m, compensated by less provisions for staff restructuring created (2017: ~ 2m vs. 2016: ~ 8m). EBITDA 325 434-25.1 EBIT 206 345-40.4 Employees 5,541 4,980 +11.3 Due to commercial rounding slight discrepancies may occur when summing up, percent changes based on unrounded figures

Thank you for your Attention! Please consider the Environment before printing IR Contact T: +49 69 690-74844 F: +49 69 690-74843 M: investor.relations@fraport.de www.meet-ir.com Postal Frankfurt Airport Services Worldwide 60547 Frankfurt am Main Germany 23

Appendix 2M 2018 Frankfurt Passenger Split North America D 11% +2% Western Europe D Latin America D 5% -1% 41% +13% Domestic D Africa 12% +5% Frankfurt Airport 5% D +11% Eastern Europe D 8% +15% Middle East D 6% +2% Far East D 12% +4% 90 85 Average seat load factors 2M 73.3% 73.8% 80 2018 75 2017 70 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Continental D 61% +11% Intercontinental D 39% +3% 24

Appendix Frankfurt Retail Revenue per Passenger Including Heinemann JV Retail revenue per Passenger Top 5 Spenders FY 17: 3.47 3.86 3.38 3.11 3.67 3.87 3.62 3.76 3.42 3.57 3.17 3.28 3.02 FY 16: 3.49 FY 17: 3.37 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Retail revenue streams China Russia S.Korea Vietnam Japan 8 10 8 9-7 -2-11 Top 5 Volumes -1 0-10 Left columns = % change in volumes vs. FY 2016 Right columns = % change in spending per destination vs. FY 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Shopping 27.6 30.8 33.4 31.0 28.2 31.6 31.9 31.4 US Germany Turkey UAE India Services Advertising 12.7 14.1 15.3 14.2 6.6 8.8 8.6 9.4 13.0 14.6 15.9 15.0 8.2 9.0 9.3 9.3 2 4 3 6 10 DTF-JV 1.4 1.6 1.7 1.6-4 -12-3 -6-8 Left columns = % change in volumes vs. FY 2016 Right columns = % change in spending per destination vs. FY 2016 25 Source: sales/revenue data of Gebr. Heinemann by destinations.

Appendix Performance of Major Airport Investments Fully consolidated Group companies Share in % Revenue in mil 1) EBITDA in mil. EBIT in mil. Result in mil. 2017 2016 Δ % 2017 2016 Δ % 2017 2016 Δ % 2017 2016 Δ % Fraport USA 100 61.8 62.9 1.7 13.0 12.0 +8.3 1.6 3.4 3.9 0.6 Fraport Slovenija 100 41.7 36.0 +15.8 15.6 14.5 +7.6 5.9 4.4 +34.1 5.3 2.0 > 100 Fraport Greece 2) 73.4 234.9 117.4 84.9 13.5 Lima 70.01 325.6 305.7 +6.5 120.0 110.8 +8.3 103.4 92.8 +11.4 54.4 53.5 +1.7 Twin Star 60 67.5 63.8 +5.8 39.6 40.8 2.9 28.0 29.2 4.1 20.8 21.3 2.3 Group companies accounted for using the equity method Share in % Revenue in mil 1) EBITDA in mil. EBIT in mil. Result in mil. 2017 2016 Δ % 2017 2016 Δ % 2017 2016 Δ % 2017 2016 Δ % Antalya 3) 51/50 260.2 180.9 +43.8 222.6 141.1 +57.8 114.1 32.5 > 100 31.4 32.2 Hannover 30 156.5 147.6 +6.0 26.3 28.9 9.0 6.1 8.8 30.7 2.3 2.8 17.9 Pulkovo/Thalita 25 258.2 194.0 +33.1 147.4 105.7 +39.5 107.3 71.4 +50.3 29.9 0.8 Xi an 4) 24.5 231.2 213.4 +8.3 90.3 97.1 7.0 41.6 45.6 8.8 37.3 30.4 +22.7 Figures refer to IFRS accounting, not local GAAP, percent changes based on unrounded figures 1 Revenue adjusted by IFRIC 12: Lima 2017: 306.9m (2016: 285.7m), Fraport Greece 2017: 211.8m 2 Take-over of operations as of April 11, 2017 3 Share of voting rights: 51%, Dividend share: 50%. 4 Figures according to the separate financial statement. 26

Appendix Group Maturity Profile & Cash Position as at YE 2017 mil. 5,000 4,500 4,531 Fraport debt conditions on average ~ 3.2% interest rate 4,000 3,500 3,000 Book values 2,500 2,000 Nominal values of debt repayment 1,500 1,000 500 0 1,019 Liquidity Gross debt 544 1,128 183 421 413 65 149 183 271 1,169 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027++ 27