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IR Presentation
Dr. Matthias Zieschang
6M 2020 Results I 7M 2020 Traffic
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 orimplied – is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information oropinions contained therein. Neither the company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (innegligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with thisdocument.
This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither this document nor any part ofit 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 ofFraport to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence oroccurrence of which could cause the actual results – including the financial condition and profitability of Fraport – to differ materially fromor be more negative than those expressed or implied by such forward-looking statements. This also applies to the forward lookingestimates and forecasts derived from third-party studies. Consequently, neither the company nor its management can give any assuranceregarding 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.
IR Presentation I 6M 2020 Results I 7M 2020 Traffic2
4
3
2
1 I 6M 2020 Results
2 I Business Update
3 I Outlook
4 I Appendix
7941
Financials massively impacted by lower Traffic
IR Presentation I 6M 2020 Results I 7M 2020 Traffic4
Group EBITDA Group result after minorities€ mil.
Negative traffic performance, predominantly starting in March, leads to lower Group revenue of -48% (excl. IFRIC 12)
EBITDA also being impacted by negative traffic, down 96%
Financial Result down due to negative result from at equity consolidated investments
Group result negative at EUR -211mn
Negative EPS of EUR -2.29
Group revenue
1,783
911
6M 2020 Results
1Revenue excluding IFRIC 12
1,5141
6M 2019 6M 2020
512
23
6M 2019 6M 2020
157
-211
6M 2019 6M 2020
Segment Overview – P&L
IR Presentation I 6M 2020 Results I 7M 2020 Traffic5
Aviation 6M 2020 6M 2019 %
Revenue 251.6 494.7 -49.4
- Aviation charges1 176.5 389.4 -54.7
- Security services 58.8 80.6 -27.0
- Other revenue 16.3 24.7 -34.0
EBITDA -76.5 121.9 >-100
EBIT -148.7 43.4 >-100
Retail & Real Estate 6M 2020 6M 2019 %
Revenue 157.5 241.3 -34.7
- Retail 48.1 104.3 -53.9
- Real Estate 79.8 82.7 -3.5
- Parking 26.4 50.0 -47.2
- Other revenue 3.2 4.3 -25.6
EBITDA 123.8 196.5 -37.0
EBIT 77.5 152.0 -49.0
Ground Handling 6M 2020 6M 2019 %
Revenue 182.1 345.2 -47.2
- Ground Handling 98.0 174.4 -43.8
- Infrastructure 72.9 157.4 -53.7
- Other revenue 11.2 13.4 -16.4
EBITDA -60.3 23.6 >-100
EBIT -81.6 0.1 >-100
Int‘ Activities & Services 6M 2020 6M 2019 %
Revenue 319.4 701.8 -54.5
Revenue excl. IFRIC 12 202.3 432.7 -53.2
EBITDA 35.6 169.5 -79.0
EBIT -57.4 83.6 >-100
6M 2020 Results
1Aviation charges incl. reimbursements to airlines based on growth incentives.
Due to commercial rounding discrepancies may occur when summing up, % changes based on unrounded figures
Q2 2020 Group Opex Reduction:
Staff cost c.-36% I
Non-staff cost excl. IFRIC 12 c.-43%
IR Presentation I 6M 2020 Results I 7M 2020 Traffic6
Performance of Major Airport Investments
Figures refer to IFRS accounting, not local GAAP, percent changes based on unrounded figures
1) Revenue adjusted by IFRIC 12: Fortaleza + Porto Alegre 6M 2020: €23.5mn (6M 2019: €43.5mn); Q2 2020: €2.2mn (Q2 2019: €20.5mn); Lima 6M 2020: €83.0mn (6M 2019: €168.7mn);
Q2 2020: €8.3mn (Q2 2019: €86.9mn); Fraport Greece 6M 2020: €27.9mn (6M 2019: €103.1mn); Q2 2020: €6.8mn (Q2 2019: €80.5mn); Antalya 6M 2020: €25.3mn (6M 2019: €136.4mn);
Q2 2020: €3.7mn (Q2 2019: €112.5mn) 2) Sum of the Group companies Fortaleza and Porto Alegre.3) Fraport Regional Airports of Greece A and Fraport Regional Airports of Greece B are collectively referred to as “Fraport Greece”4) Share of voting rights: 51%, dividend share: 50 %
in € million
Share in
% Revenue1) EBITDA EBIT Result
6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ %
Fraport USA 100 21.8 38.6 –43.5 8.8 24.6 –64.2 –13.8 2.7 – –17.1 –1.7 –
Fraport Slovenija 100 9.4 22.6 –58.4 0.1 8.5 –98.8 –6.1 3.3 – –5.6 2.6 –
Fortaleza +
Porto Alegre2) 100 55.4 162.8 –66.0 4.8 17.8 –73.0 –4.4 11.7 – –8.6 4.9 –
Lima 80.01 117.7 215.4 –45.4 29.7 65.4 –54.6 22.2 58.2 –61.9 11.7 40.5 –71.1
Fraport Greece3) 73.4 78.4 206.2 –62.0 –15.0 46.8 – –41.1 23.1 – –67.4 –19.2 –
Twin Star 60 4.5 18.2 –75.3 –3.3 7.6 – –9.1 1.6 – –10.9 –0.3 –
in € million
Share in
% Revenue1) EBITDA EBIT Result
6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ % 6M 2020 6M 2019 Δ %
Antalya 51/504) 25.3 138.0 –81.7 9.7 112.8 –91.4 –47.0 57.6 – –68.9 27.2 –
Thalita/Northern Capital
Gateway 25 57.6 132.3 –56.5 13.4 75.9 –82.3 –3.6 58.5 – –60.8 6.4 –
Xi'an 24.5 67.0 130.7 –48.7 3.0 58.0 –94.8 –20.8 34.0 – –18.8 30.4 –
6M 2020 Results
IR Presentation I 6M 2020 Results I 7M 2020 Traffic7
Capex figures including down payments to EPC companies
1 = Capex in airport op. projects, other intangible assets, PPE, investment property, and at equity
investments. No consideration of one-time payments for acquisitions
2 = OCF – IFRS 16 – Capex + Dividends from at equity investments
3 = Year-end 2019 figures
in € mil.
-97-44
-6
FRA
T3
Greece
capex
Brazil
capex
Other Net debt
June 30, 2020
-68
Free Cash Flow 6M 2020: € -653 mil.
4,147
Other
capex
mostly FRA
Lima
capex
Fixed
concession
payments
-214
Comments
› Notable decrease in OCF due to operational performance driven by the
impacts of the Coronavirus-pandemic
› Negative free cash flow due to ongoing capex programs, esp. Terminal 3
in Frankfurt as well as investments in international assets
› Net debt exceeds EUR 4.7bn, Gearing exceeds 115%
€ mil. 6M 2020 6M 2019 %
Operating cash flow -97 368 >-100
OCF before work. cap. changes -25 407 >-100
Capex1 541 707 -23.5
Free cash flow 2 -653 -306 >-100
Net debt 4,765 4,1473 +14.9
Equity 4,294 4,6233 -7.1
Gearing ratio 115.2 93.33 +21.9PP
FCF negative due to Capex and COVID-19 Impacts on OCF
-17 +35
IFRS
16OCFNet debt
YE 2019
-17
-30
-161
IAS 23
borrowing
cost
4,765
6M 2020 Results
+1
Divs from
at equity
companies
1.156
1.569
550 -653
-179
1.275
580
793
1.373
1.244Of which:
Frankfurt EUR 500 mn
Brazil EUR 80 mn
Of which:
Frankfurt EUR 1.003 mn
Lima EUR 109 mn
Brazil EUR 43 mn
Greece EUR 173 mn
Other EUR 241 mn
8
Repayments
and revaluation
6M 2020
Cash Position
Dec. 31, 2019
FCF
6M 2020
Cash Position
June 30, 2020
Group
Liquidity
€ mn
Financing Activities boost Liquidity to just under €3bn
Secured
Credit Lines
Total
2,149
1,706
IR Presentation I 6M 2020 Results I 7M 2020 Traffic
1,569
Bond
placement
in July*
Secured Cash
Position incl.
July finance
2,942
Additional
Financing
6M 2020
6M 2020 Results
* Bond nominal value € 800 mn, € 793 mn incl. disagio and fees
1.570
6,334
193454 391 534 386 505 434 631 487 553 443832 28
4033 40 50
62 67 76 6498
8 9 1011 12 12
163
0
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
5.000
5.500
6.000
6.500
Liquidity asof Jun 30,
2020
FinancialLiabilities
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030++
9
Maturity Profile & Cash Position as at June 30, 2020
* incl. RCF of €77mn
IR Presentation I 6M 2020 Results I 7M 2020 Traffic
€ mil.
€ 1.09 bn Greece debtAverage debt condition
~ 2.1 % interest rate
€ 240 mn Brasil debt
€5.00 bn Fraport AG debt
*
2,149
1,569
6M 2020 Results
1 I 6M 2020 Results
2 I Business Update
3 I Outlook
4 I Appendix
IR Presentation I 6M 2020 Results I 7M 2020 Traffic11
Business Update
COVID-19 Market Environment
International ActivitiesFrankfurt
- Lima: Airport was temporarily closed (mid March-July 14th),
domestic travel started again on July 15th
- Ljubljana: Airport was temporarily closed (mid March-
May 11th), quarantine requirements in place
- Fraport Brasil: International traffic still basically stopped, domestic
flights ramping up slowly
- Fraport Greece: Opened up for international flights again in July
- Twin Star: Opened up for international flights again end of June
- Fraport USA: Quarantine requirements heavily impact demand
- Antalya: Airport was temporarily closed (beginning of April-June
1st ), Turkey still designated as risk area for key German market
- St. Petersburg: International traffic stopped (expected at least till
September)
- Xi’An: Ongoing recovery since March
- Delhi: Limited domestic flight plan in place since end of May
- Since 21 June 2020, entry restrictions for Germany have been
removed for travelers from EU and Schengen countries, States
associated with Schengen and the UK
- Since 02 July 2020, unrestricted travel to Germany is possible from
Australia, Georgia, Canada, New Zealand, Thailand, Tunisia and
Uruguay
- A travel warning is still in place for all other countries until the
end of August for the time being. Exceptions for individual
countries may be made before this date
- Travelers entering from regions designated as risk areas are still
required to go into quarantine if they do not have an up-to-date
negative coronavirus test; tests may become mandatory
- Travelers already have the possibility to be tested at Frankfurt
Airport since end of June
Update as of
August 4th, 2020
IR Presentation I 6M 2020 Results I 7M 2020 Traffic12
Business Update
COVID-19 turns Traffic clearly negative
Airport operationsFraport
Share
JUL
2020
D
previous
year
YTD
2020
D
previous
year
FY
2019
D
previous
year
FY
2018
D
previous
year
Frankfurt 100% 1,318k -81.0% 13,495k -66.7% 70,556k +1.5% 69,510k +7.8%
Brazil 100% 222k -84.2% 3,933k -55.5% 15,517k +3.9% 14,915k +7.0%
Ljubljana 100% 21k -89.9% 218k -79.6% 1,721k -5.0% 1,812k +7.7%
Lima 80.01% 69k -96.7% 5,103k -62.0% 23,579k +6.6% 22,118k +7.3%
Greek regionals 73.4% 1,327k -75.1% 3,092k -81.0% 30,153k +0.9% 29,877k +8.9%
Bulgaria 60% 226k -81.9% 479k -82.2% 4,970k -10.7% 5,558k +12.2%
Antalya 51% 596k -89.0% 3,070k -83.5% 35,483k +10.0% 32,269k +22.5%
St. Petersburg 25% 1,124k -49.1% 5,273k -51.9% 19,581k +8.1% 18,122k +12.4%
Xi‘an 24.5% 3,204k -25.4% 14,671k -46.1% 47,221k +5.7% 44,653k +6.7%
7 Assets with Passenger Growth in 2019following strong 2018 Performances
All Assets negative due to COVID-19
FRA July
Continental ~-75%
Intercontinental ~-92%
IR Presentation I 6M 2020 Results I 7M 2020 Traffic13
Business Update
Frankfurt Recent Developments
70,7%
32,5%
0,0%
20,0%
40,0%
60,0%
80,0%
100,0%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31
Seat Load Factor
Continental Intercontinental
29%
21%0%
20%
40%
60%
80%
100%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31
Supply (Seats)*
Continental Intercontinental * compared to 2019
0
50
100
150
200
Summer 2019 Summer 2020
Lufthansa Destinations
Continental Intercontinental
~75% restored*
~50% restored*
CW CW
0
40.000
80.000
120.000
160.000
200.000
240.000
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31
Average PAX/day
2020 2019
CW
-78.6%
* Less frequencies than in 2019
Lufthansa has doubled its Train to Flight
Offering in Germany
• Lufthansa with Deutsche Bahn, is connecting
16 German cities and the city of Basel with
Frankfurt Airport by train
• Lufthansa passengers arriving or departing in
Frankfurt can use their boarding pass to travel
to or from Frankfurt Airport on the train
• Recently, Hanover, Leipzig, and Basel have
been added to the network and the offering
has been doubled
• In total, 123 Deutsche Bahn rail services per
day have a Lufthansa flight number, all going
via Frankfurt Airport
IR Presentation I 6M 2020 Results I 7M 2020 Traffic14
Business Update
Lufthansa strengthens its position in Frankfurt
Lufthansa and Fraport to found strategic joint
venture „FRA Alliance“
• Lufthansa and Fraport join forces to develop
Frankfurt Airport Terminal 1 together
• The aim is to further improve the strategic and
operational cooperation between Fraport and
Lufthansa
• Close cooperation in the fields of operational
procedures, increasing effiency and
infrastructure development
• No assets will be brought into the joint
venture by the two partners
IR Presentation I 6M 2020 Results I 7M 2020 Traffic15
Business Update
Traffic Trends in International Airport Portfolio
in thousand passengers
Lima St. Petersburg
Antalya
KW 31
(27.-02.)
KW 28
(06.-12.)
KW 29
(13.-19.)
232,0
KW 30
(20.-26.)
71,8142,3
82,3
301,888,8
379,493,5
Int. PAX
Dom. PAX
(-71%)
(-53%)
(-64%)
(-51%)
(-86%)
(-61%)
(-78%)
(-56%)
(-100%)(-84%)
(-100%)(-83%)
(-100%)(-94%)
(-100%)(-93%)
(-100%)(-80%)
(-100%)(-82%)
(-100%)(-84%)
(-100%)(-83%)
0,0
0,0
26,6
KW 28
(06.-12.)
KW 29
(13.-19.)23,0
KW 30
(20.-26.)
0,0
18,3
KW 31
(27.-02.)
0,014,7
0,0
0,0
0,024,8
27,3
26,90,0
28,4
FOR Int.
FOR Dom.
POA Int.
POA Dom.
60,5
KW 28
(06.-12.)
KW 29
(13.-19.)
KW 30
(20.-26.)
KW 31
(27.-02.)
42,2
66,5
53,2
Varna & Burgas
KW 30
(20.-26.)
KW 28
(06.-12.)
KW 29
(13.-19.)
4,6
6,1KW 31
(27.-02.)
5,4
5,5
Ljubljana
(-78%)
(-85%)
(-82%)
(-77%)
(-87%)
(-90%)
(-89%)
(-88%)
52,4
KW 30
(20.-26.)
75,9
KW 28
(06.-12.)
KW 29
(13.-19.) 58,7
44,7
KW 31
(27.-02.)
105,2
63,8
136,4
68,9
Int. PAX
Dom. PAX
2,0
1,0
1,0
2,0
221,0
254,0
272,0
294,0
KW 29
(13.-19.)
KW 28
(06.-12.)
KW 30
(20.-26.)
KW 31
(27.-02.)
Int. PAX
Dom. PAX
(-99%)
(-0%)
(-99%)
(-29%)
(-99%)
(-12%)
(-99%)
(-5%)
629,0
692,3
758,0
764,0
KW 28
(06.-12.)
KW 29
(13.-19.)
KW 27
(29.-05.)
KW 30
(20.-26.)
Xi’an (-33%)
(-28%)
(-21%)
(-23%)
(-87%)
(-55%)
(-96%)
(-65%)
(-93%)
(-62%)
(-90%)
(-59%)
18,8
27,6
30,2
0,00,0KW 28
(06.-12.)
KW 29
(13.-19.)
KW 30
(20.-26.)
0,0
0,0
KW 31
(27.-02.)
0,0
Int. PAX
Dom. PAX
(-100%)
(-100%)
(-100%)
(-93%)
(-100%)
(-90%)
(-100%)
(-90%)
Brazil
Greece
IR Presentation I 6M 2020 Results I 7M 2020 Traffic16
Business Update
Cash Preservation
1 I Opex Reduction
I Short term
2 I Capex Reduction
I Mid term
2 I Capex Reduction
I Short term I Mid term
IR Presentation I 6M 2020 Results I 7M 2020 Traffic17
Business Update
Opex Reduction
1 I Short term
I Short time work
I Infrastructure adaption
I All non-staff items
I Significant Reduction of Personnel
I Infrastructure adaption
I All non-staff items
2 I Mid term
IR Presentation I 6M 2020 Results I 7M 2020 Traffic18
Business Update
Capex Reduction
1 I Short term 2 I Mid term
Frankfurt Other Capex sustainably lowered to:
€~200-250mn p. a.
= €~1bn Savings over next 7Y
T3 Inauguration delayed to 24/25
Capex profile stretched
Lima Terminal Construction under review
USD1+bn Program
Brazil & Greece Completion of major Programs
Maintenance levels
of ~20-30mn p.a. thereafter
2 I Business Update
3 I Outlook
1 I 6M 2020 Results
4 I Appendix
IR Presentation I 6M 2020 Results I 7M 2020 Traffic20
2019 Results Corona impact
Passengers FRA 70.6 mil.Down in high double digit
percentage range
Revenue excl. IFRIC 12 € 3.26 bn Clear negative development
EBITDA € 1,180 mil. Very clear negative development
EBIT € 705 mil. Expected to be negative
Group result before minorities € 454 mil. Expected to be clearly negative
Dividend proposal € 2.00 / share € 0.00 / share
Outlook
Clearly negative due to CoronaDuration and magnitude of
Coronavirus impact not
yet fully assessible
2 I Business Update
3 I Outlook
1 I 6M 2020 Results
4 I Appendix
IR Presentation I 6M 2020 Results I 7M 2020 Traffic22
Group P+LAppendix
€ million 6M 2020 6M 2019 Q2 2020 Q2 2019
Revenue 910.6 1,783.0 249.5 979.2
Change in work-in-process 1.0 0.2 0.8 0.0
Other internal work capitalized 18.5 18.2 8.9 9.4
Other operating income 25.0 23.3 13.9 5.8
Total revenue 955.1 1,824.7 273.1 994.4
Cost of materials –366.3 –612.3 –144.0 –324.1
Personnel expenses –497.2 –618.5 –204.6 –318.4
Other operating expenses –69.0 –82.4 –31.0 –41.0
EBITDA 22.6 511.5 –106.5 310.9
Depreciation and amortization –232.8 –232.4 –116.0 –117.9
EBIT/Operating result –210.2 279.1 –222.5 193.0
Interest income 14.5 20.1 7.3 11.2
Interest expenses –86.0 –105.1 –38.1 –55.2
Result from companies accounted for using the equity method –45.9 16.1 –25.3 26.9
Other financial result 18.7 4.6 17.3 2.4
Financial result –98.7 –64.3 –38.8 –14.7
EBT/Result from ordinary operations –308.9 214.8 –261.3 178.3
Taxes on income 77.5 –49.9 65.6 –41.4
Group result –231.4 164.9 –195.7 136.9
thereof profit attributable to non-controlling interests –20.1 7.7 –13.4 10.2
thereof profit attributable to shareholders of Fraport AG –211.3 157.2 –182.3 126.7
Earnings per €10 share in €
basic -2.29 1.70 -1.97 1.37
diluted -2.28 1.70 -1.97 1.37
IR Presentation I 6M 2020 Results I 7M 2020 Traffic23
Group Cash FlowAppendix
€ million 6M 2020 6M 2019 Q2 2020 Q2 2019
Result attributable to shareholders of Fraport AG –211.3 157.2 –182.3 126.7
Result attributable to non-controlling interests –20.1 7.7 –13.4 10.2
Adjustments for
Taxes on income –77.5 49.9 –65.6 41.4
Depreciation and amortization 232.8 232.4 116.0 117.9
Interest result 71.5 85.0 30.8 44.0
Gains/losses from disposal of non-current assets –0.5 0.2 –0.6 0.2
Others –30.8 –18.9 –25.7 –3.4
Changes in the measurement of companies accounted for
using the
equity method 45.9 –16.1 25.3 –26.9
Changes in inventories –0.1 0.8 –1.1 0.3
Changes in receivables and financial assets 38.1 –40.0 –7.9 –44.2
Changes in liabilities –36.5 32.3 –33.7 47.1
Changes in provisions –72.9 –32.9 –30.9 –21.3
Operating activities –61.4 457.6 –189.1 292.0
Financial activities
Interest paid –32.5 –32.6 –26.0 –27.7
Interest received 11.9 8.8 2.4 4.6
Paid taxes on income –14.6 –66.3 24.0 –30.4
Cash flow used in/from operating activities –96.6 367.5 –188.7 238.5
€ million 6M 2020 6M 2019 Q2 2020 Q2 2019
Investments in airport operating projects –156.9 –378.2 –59.2 –200.0
Capital expenditure for other intangible assets –5.8 –9.1 –2.7 –6.9
Capital expenditure for PPE –357.9 –318.4 –195.4 –96.7
Capital expenditure for "Investment property" –18.9 –0.7 –9.2 –0.6
Investments in companies acc. for using the equity method –1.2 –0.6 0.0 –0.6
Sale of consolidated subsidiaries 0.0 4.5 0.0 0.0
Divs from companies accounted for using the equity method 1.4 56.6 1.4 18.4
Proceeds from disposal of non-current assets 0.4 1.7 0.0 1.2
Cash flow used in investing activities excluding
investments in cash deposits and securities –538.9 –644.2 –265.1 –285.2
Financial investments in securities and promissory note loans –253.0 –80.5 –245.1 –0.7
Proceeds from disposal of securities & promissory note loans 144.6 98.8 120.7 55.3
Increase/decrease of time deposits with term of 3+ months –425.2 –20.6 –335.1 0.2
Cash flow used in investing activities –1,072.5 –646.5 –724.6 –230.4
Dividends paid to shareholders of Fraport AG 0.0 –184.8 0.0 –184.8
Dividends paid to non-controlling interests –0.6 –1.1 –0.6 –1.1
Transactions with non-controlling interests 0.0 –40.3 0.0 –40.3
Cash inflow from long-term financial liabilities 1,454.3 790.8 926.1 201.4
Repayment of long-term financial liabilities –58.8 –211.3 –2.1 –89.6
Changes in current financial liabilities –329.4 –102.8 –240.3 33.9
Cash flow from financing activities 1,065.5 250.5 683.1 –80.5
Changes in restricted cash and cash equivalents 17.4 30.1 17.1 –5.2
Change in cash and cash equivalents –86.2 1.6 –213.1 –77.6
Cash and cash equivalents as at January 1 and April 1 543.5 598.2 659.7 682.8
F/X translation effects on cash and cash equivalents –19.2 4.1 –8.5 –1.3
Cash and cash equivalents as at June 30 438.1 603.9 438.1 603.9
IR Presentation I 6M 2020 Results I 7M 2020 Traffic24
Group Financial PositionAppendix
Assets
€ million June 30, 2020 Dec. 31, 2019
Non-current assets
Goodwill 19.3 19.3
Investments in airport operating projects 3,216.2 3,284.1
Other intangible assets 125.0 131.1
Property, plant and equipment 7,045.0 6,837.9
Investment property 113.0 93.3
Investments in companies accounted for using the
equity method 178.2 242.2
Other financial assets 442.7 503.0
Other receivables and financial assets 202.3 193.7
Deferred tax assets 151.3 78.6
11,493.0 11,383.2
Current assets
Inventories 23.7 23.6
Trade accounts receivable 126.7 203.1
Other receivables and financial assets 387.8 203.3
Income tax receivables 20.9 25.2
Cash and cash equivalents 1,091.3 788.9
1,650.4 1,244.1
Total 13,143.4 12,627.3
Liabilities and equity
€ million June 30, 2020 Dec. 31, 2019
Shareholders’ equity
Issued capital 923.9 923.9
Capital reserve 598.5 598.5
Revenue reserves 2,612.7 2,920.7
Equity attributable to shareholders of Fraport AG 4,135.1 4,443.1
Non-controlling interests 159.1 180.1
4,294.2 4,623.2
Non-current liabilities
Financial liabilities 6,044.2 4,746.8
Trade accounts payable 40.9 41.4
Other liabilities 1,215.6 1,279.4
Deferred tax liabilities 211.4 212.7
Provisions for pensions and similar obligations 39.0 40.2
Provisions for income taxes 86.7 69.7
Other provisions 139.3 158.7
7,777.1 6,548.9
Current liabilities
Financial liabilities 289.6 556.5
Trade accounts payable 297.8 297.3
Other liabilities 317.9 347.0
Provisions for income taxes 28.2 59.7
Other provisions 138.6 194.7
1,072.1 1,455.2
Total 13,143.4 12,627.3
IR Presentation I 6M 2020 Results I 7M 2020 Traffic25
EBITDA
6M 2019
Aviation
charges1
Other
income
Staff
cost
Other
opexEBITDA
6M 2020
122 -213
-8
-77
-22 +27+16
Security
services
Other
revenue
in € mil.
+1
Aviation
EBITDA € -199mil.
Appendix
1Aviation charges incl. reimbursements to airlines based on 2019 growth incentives.
IR Presentation I 6M 2020 Results I 7M 2020 Traffic26
EBITDA
6M 2019Retail Other
income
Staff
cost
Other
opex
EBITDA
6M 2020
197 -56
-24
124
-3
+9
Real
Estate
Other
revenue
-3
Parking
-1 +5
in € mil.
Retail & Real Estate
EBITDA € -73mil.
Appendix
IR Presentation I 6M 2020 Results I 7M 2020 Traffic27
in € mil.
-85
-2
+63
EBITDA
6M 2019
Other
income
Staff
cost
Other
opexEBITDA
6M 2020
GH
revenue
Other
revenue
Infrastructure
charges
-60
-7624
Ground Handling
EBITDA €-84mil.
+2
Appendix
+14
IR Presentation I 6M 2020 Results I 7M 2020 Traffic28
USA
-1
EBITDA
6M 2019
Brasil LimaGreece Other
-13
-11
-36
36
Twin Star Slovenija EBITDA
6M 2020USA
-62
-8
-16 +12
EBITDA
in € mil.
International Activities & Services
EBITDA € -134mil.
Appendix
170
IR Presentation I 6M 2020 Results I 7M 2020 Traffic29
Western Europe
43%
-67%D
Domestic
11%
-67%D
Eastern Europe
9%
-68%DNorth America
12%
-70%DFar East
10%
-69%DMiddle East
6%
-63%DAfrica
5%
-61%DLatin America
5%
-52%D
Frankfurt Airport
Continental
63%
-67%D
Intercontinental
37%
-66%D
7M 20 Frankfurt Passenger SplitAppendix
IR Presentation I 6M 2020 Results I 7M 2020 Traffic30
Appendix
FY 2019 Frankfurt Passenger Split
Western Europe
44%
+1%D
Domestic
11%
-3%D
Eastern Europe
9%
+3%DNorth America
13%
+4%DFar East
10%
+1%DMiddle East
5%
+2%DAfrica
5%
+9%DLatin America
3%
+4%D
Frankfurt Airport
Continental
64%
+0.4%D
Intercontinental
36%
+3.4%D
IR Presentation I 6M 2020 Results I 7M 2020 Traffic31
Business Update
COVID-19 Infection RatesN
ew
in
fect
ion
sp
er
100,0
00 in
hab
itan
ts(r
ollin
g14-d
ays
avera
ge)
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23.03.202009.03.2020 06.04.2020 20.04.2020 01.06.202004.05.2020 15.06.202018.05.2020 29.06.2020 13.07.2020 27.07.2020
Source: ECDC – European Centre for Disease Prevention and Control
USA
India
Brazil
Bulgaria
China
Germany
Greece
Peru
Russia
Slovenja
Turkey
IR Presentation I 6M 2020 Results I 7M 2020 Traffic32
Appendix
Dates
6M 9M
2020 Financial Calendar
3M AGM
Mar 13, 2020 May 6, 2020 Aug 4, 2020 Nov 4, 2020May 26, 2020
FY
2020 Traffic Calendar
Oct 13, 2020 Nov 12, 2020 Jan 18, 2021Dec 11, 2020
3M 4M 5M 6M
Apr 12, 2019 Jul 13, 2020Jun 15, 2020
Sep 11, 2020
7M
Aug 13, 2020
8M 9M 10M 11M 12M
May 14, 2020
2020 Traffic Calendar
Apr 15, 2020
IR Presentation I 6M 2020 Results I 7M 2020 Traffic33
IR Contact
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