기록 financial result achieved due to 마닐라 compensation payment – Airports in Fraport’s international portfolio report mixed results
Fraport AG는 성공적인 2016 년 사업 연도 (31 월 XNUMX 일 종료)를 되돌아 봅니다. 이는 항공 산업의 까다로운 프레임 워크 조건과 그룹 프랑크푸르트 공항 본거지의 트래픽이 약간 감소 함에도 불구하고 기록적인 재무 결과를 달성 한 것으로 표시됩니다.
Group revenue declined by 0.5 percent year-on-year to €2.59 billion. Adjusting for changes in the scope of consolidation due to the sale of shares in Fraport Cargo Services (FCS) and the disposal of the Air-Transport IT Services subsidiary, Group revenue would have risen by €46.2 million or 1.8 percent. This resulting increase in revenue (on an adjusted basis) was stimulated in particular by the ongoing growth at the Group’s airports in Lima (Peru) and Varna and Burgas (Bulgaria), as well as at the Fraport USA subsidiary, and by revenue gained from property sales.
The Group’s operating profit or EBITDA (earnings before interest, taxes, depreciation, and amortization) advanced by 24.2 percent, reaching a new record high of €1.05 billion. This strong growth was supported by the compensation payment received for the Manila terminal project, which boosted EBITDA by €198.8 million. Fraport’s successful sale of a 10.5 percent share in Thalita Trading Ltd., the owner of the operating company of Pulkovo Airport in St. Petersburg (Russia), contributed another €40.1 million to EBITDA. Adjusting for these effects and the creation of provisions for a personnel-restructuring program, the Group’s EBITDA would have remained on the previous year’s level of about €853 million. Although this adjusted EBITDA was curbed by previous year’s weaker traffic performance and a slowdown in FRA’s retail business, reflecting lower spending by passengers, the Group’s external business also had a compensating positive effect on EBITDA.
The Group result (net profit) increased by 34.8 percent to €400.3 million. Without the aforementioned effects and unscheduled depreciation and amortization, Fraport’s Group result would only have reached about €296 million. In contrast, operating cash flow declined by 10.6 percent to €583.2 million. Likewise, free cash flow contracted by 23.3 percent to €301.7 million, also due to ongoing construction of Frankfurt Airport’s future Terminal 3.
Traffic at the company’s Frankfurt Airport (FRA) home-base slightly declined by 0.4 percent to approximately 61 million passengers in 2016. This was, in particular, a result of the relatively weak spring and summer months characterized by markedly restrained travel bookings in the wake of geopolitical uncertainties. In the last quarter of 2016, traffic figures noticeably rebounded, even reaching a new December monthly record. Cargo tonnage expanded by 1.8 percent to some 2.1 million metric tons, helped by the economic recovery in summer 2016.
Fraport’s international portfolio of airports displayed mixed results in 2016. The strong 30.9 percent decline in traffic at Antalya Airport (AYT) in Turkey – which was impacted by the country’s geopolitical and security situation – could be largely offset by the traffic performance of Group airports at other locations. Strong growth was recorded in particular at Lima Airport (LIM) in Peru (up 10.1 percent), Burgas Airport (BOJ) and Varna Airport (VAR) on the Bulgarian Black Sea coast (up 22.0 percent and 20.8 percent, respectively), and Xi’an Airport (XIY) in China (up 12.2 percent).
On the basis of the Group’s positive financial performance, a dividend of €1.50 per share will be recommended to the 2017 Annual General Meeting. This corresponds to an increase of €0.15 or 11.1 percent per share and to a payout ratio of 36.9 percent of the Group result attributable to shareholders.
Commenting on Fraport AG’s business performance in 2016, executive board chairman Dr. Stefan Schulte stated: “Despite the challenges of the 2016 business year, we have achieved our best annual result ever. The sale of the 10.5 percent share in our Pulkovo Airport subsidiary in St. Petersburg has demonstrated that we are able to develop international airport concessions even amid difficult market environments. We will therefore continue to consistently pursue our strategy of operating a broadly diversified international portfolio.”
Fraport는 2017 년 비즈니스 연도에 프랑크푸르트 공항의 트래픽이 2 ~ 4 % 증가 할 것으로 예상합니다. 수익은 프랑크푸르트 공항과 Fraport의 국제 그룹 공항 모두에서 긍정적 인 트래픽 증가로 인해 최대 약 2.9 억 유로까지 눈에 띄게 증가 할 것으로 예상됩니다. 또한 그리스에서의 그룹 활동의 통합이 예상되는 수익 증가에 기여할 것입니다. 그룹의 영업 이익 (또는 EBITDA)은 약 980 억 1,020 천만 ~ 610 만 유로 수준에이를 것으로 예상되며, EBIT는 약 650 억 310 천만 ~ 350 억 XNUMX 천만 유로에이를 것으로 예상됩니다. 그룹 결과는 XNUMX 억 XNUMX 천만 ~ XNUMX 억 XNUMX 천만 유로에이를 것으로 예상됩니다.
2017 년 그룹의 사업 전망과 관련하여 Schulte CEO는 다음과 같이 말했습니다.“우리는 현재 사업 연도에 대해 낙관적이며 프랑크푸르트 공항의 트래픽이 저비용 세그먼트와 기존 허브 트래픽 모두에서 증가 할 것으로 예상합니다. 동시에 우리는 국제 비즈니스를 전략적으로 계속 발전시킬 것입니다. 그리스 14 개 공항의 운영을 인수함으로써 우리는 더 큰 성장 잠재력을 발휘할 것입니다.”
In view of the expected long-term traffic growth at Frankfurt Airport, construction of the new Terminal 3 is being pushed forward as scheduled, with the first construction phase expected to be completed by 2023. The focus of Fraport’s international business is currently on the take-over of operations at the 14 Greek airports, which is expected to take place in the next few weeks.
Fraport의 네 가지 사업 부문 개요 :
비행:
Revenue in the Aviation business segment declined by 1.8 percent to €910.2 million in business year 2016. This was largely due to the slight drop in passenger traffic at Frankfurt Airport, the loss of the tender to perform security services in Concourse B, and lower revenue from the re-allocation of infrastructure costs. The creation of provisions for a personnel-restructuring program, higher wages in business year 2016 due to collective agreements, as well as higher non-staff costs let the segment’s EBITDA decline by 8.3 percent to €217.9 million. Depreciation and amortization increased significantly year-on-year, particularly due to the full unscheduled depreciation and amortization of the goodwill in the FraSec GmbH subsidiary in the amount of €22.4 million, as a result of the company’s lower long-term earnings forecast compared to previous years. Correspondingly, the segment’s EBIT significantly dropped by 39.5 percent to €70.4 million.
소매 및 부동산 :
소매 및 부동산 부문의 매출은 소매 하위 부문의 둔화에도 불구하고 1.2 년 사업 연도에 493.9 % 증가한 2016 억 3.49 만 유로를 기록했습니다. 수익 실적은 프랑크푸르트화물 서비스 (FCS) 자회사의 주식 매각과 관련된 통합 범위 변경으로 인해 토지 매각 및 임대 수입 표시 변경으로 인해 긍정적 인 영향을 받았습니다. 승객 당 순 소매 수익은 € 2015 (3.62 : € 368)였습니다. 이러한 감소는 중국, 러시아 및 일본 승객의 평균 지출 감소와 유로화에 대한 다양한 통화의 가치 하락으로 인한 영향 때문입니다. 2.9 억 283.6 만 유로를 기록한이 부문의 EBITDA는 인건비 증가의 결과로 전년도에 비해 3.9 % 감소했습니다. 특히 인력 수요 증가, 단체 협약에 따른 임금 상승, 인력 구조 조정 프로그램 마련 등이 원인이었다. 감가 상각과 상각이 거의 평평 해지자 부문의 EBIT는 XNUMX 억 XNUMX 만 유로 (XNUMX % 감소)에 도달했습니다.
지상 처리 :
In the 2016 business year, revenue in the Ground Handling business segment markedly decreased by 6.3 percent to €630.4 million compared to the previous year. This was due, in particular, to the sale of shares in the Fraport Cargo Services (FCS) subsidiary and slightly declining passenger traffic at Frankfurt Airport. Adjusted for the effects from the sale of shares in FCS, segment revenue saw underlying growth of 1.8 percent. Reasons for this adjusted increase included a change in the presentation of personnel expenses as a result of changes in the scope of consolidation related to the sale of shares in the FCS subsidiary, as well as slightly higher revenue from infrastructure charges. The creation of provisions for a personnel-restructuring program and rising wages due to collective agreements led to a 25.2 percent decline in the segment’s EBITDA to €34.7 million. Contracting by €11.5 million to minus €5.5 million, the segment’s EBIT reached negative territory due to the provisions for the personnel-restructuring program.
외부 활동 및 서비스 :
Revenue in the External Activities & Services business segment increased by 8.1 percent to €551.7 million in business year 2016, supported in particular by the Group companies in Lima, Peru (up €27.8 million), Twin Star, Bulgaria (up €9.9 million) and Fraport USA Inc. (up €3.2 million). In addition, the compensation payment from the Manila terminal project and revenue gained from the sale of shares in Thalita Trading Ltd. had a markedly positive impact on the segment’s revenue. Due to these effects, also the segment’s EBITDA more than doubled, reaching €433.5 million (2015: €186.1 million). The segment’s EBIT showed similar growth, rising by €242.1 million to €345.2 million.
