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Presentation
Roadshow Brazil
February 2014
Stefan J. Rüter
Head of Finance & Investor Relations
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 forward-looking 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 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 forwardlooking 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.
Slide 3
Agenda

Fraport at a Glance

Traffic Insight

Business Development


FRA

External
BACKUP: Financials in Detail
Roadshow Brazil February 2014
Slide 4
Fraport at a Glance
Segment Split of Revenue and EBITDA FY 2012
Group EBITDA
€ 850.7 mil.
Aviation
Group Revenue
€ 2.44 bn.
18%
34%
Retail & Real Estate
39%
24%
5%
Ground Handling
32%
EBITDA
27%
Revenue
Roadshow Brazil February 2014
21%
External Activities
& Services
Slide 5
Fraport at a Glance
Group Portfolio 2012
Dr. Stefan
Schulte
Chief Executive
Officer
Anke Giesen
Executive
Director Ground
Handling
Michael Müller
Executive
Director Labor
Relations
Revenue
EBITDA
EBIT
Aviation
•
•
•
Runway and
terminal operations
Expansion
Security
Revenue
EBITDA
EBIT
Employees2
€ 823.4 mil.
€ 199.9 mil.
€ 77.6 mil.
6,298
Roadshow Brazil February 2014
€ 2,442.0 mil.
€ 850.7 mil.
€ 498.0 mil.
Retail & Real Estate
•
•
•
Retail management
Property management
Parking management
Revenue
EBITDA
EBIT
Employees2
€ 452.9 mil.
€ 333.9 mil.
€ 251.5 mil.
629
Peter Schmitz
Executive
Director
Operations
Dr. Matthias
Zieschang
CFO1
Group result
EPS
Employees2
External Activities &
Services
Ground Handling
•
•
•
•
Ramp services
Passenger services
Baggage handling
Cargo services
Revenue
EBITDA
EBIT
Employees2
€ 649.3 mil.
€ 43.6 mil.
€ 4.7 mil.
8,924
€ 251.6 mil.
€ 2.59
20,963
•
•
•
•
Global investments and
management
Facility management
IT
Central Infrastructure
Management
Revenue
EBITDA
EBIT
Employees2
€ 516.4 mil.
€ 273.3 mil.
€ 164.2 mil.
5,112
1) Executive Director Controlling & Finance
2) Average number of employees excluding apprentices and employees on leave
Slide 6
Fraport at a Glance
Expansion at FRA- Construction Areas
1
5
3
4
2
8
6
7
9
Others
Expansion /FRA North
1 Mönchhof Areal
4 Pier A+ (FRA North)
7 CD – Link (FRA North)
2 Ticona
5 The Squaire
8 A380 Maintenance Hangar
3 Runway North-West (Expansion)
6 Gateway Gardens
9 Terminal 3 (Expansion)
Roadshow Brazil February 2014
Slide 7
Fraport at a Glance
The new Runway North-West
• New Runway North-West for landing only inaugurated in October 2011
• Length 2800m, ILS-catergory IIIb landings possible
• Capacity increase of about 50% possible – highest runway capacity in EU
• Punctuality increased to more than 80%
Roadshow Brazil February 2014
Slide 8
Fraport at a Glance
Terminal 3





Application for construction permit filed
Construction of apron positions proceeding
Positions already in service mostly used for large aircraft with long
parking hours (e.g. South African, Cathay, etc.)
Timeline: Construction start planned for 2015 – inauguration 2021
Total cost at ~ €2.4 bn including planning cost & risk
Future Terminal 3 Area
Roadshow Brazil February 2014
Slide 9
Fraport at a Glance
The new Pier A-Plus
• Inauguration in October 2012
• Length of 790 m for up to 6 million passenger capacity
• 27 new gates including 5 busgates
• 7 contact positions (4 suitable for A380/ 747-8)
• Around 12,000 sqm new Retail space
Roadshow Brazil February 2014
Slide 10
Fraport at a Glance
M&A Portfolio
Hanover
Frankfurt
St. Petersburg
Varna & Burgas
Antalya
Antalya
FRANKFURT
Cairo
Jeddah
Riyadh
Delhi
Xi‘an
Dakar
Lima
Majority Stakes
Roadshow Brazil February 2014
Minority Stakes
Management Contracts
Slide 11
Agenda

Fraport at a Glance

Traffic Insight

Business Development


FRA

External
BACKUP: Financials in Detail
Roadshow Brazil February 2014
Slide 12
Traffic Insight
Frankfurt Airport
Dec 2013
Passengers*
in `000
Movements
∆%
FY 2013
∆%
FY 2012
4,095
+2.9
58,037
+0.9
57,520
34,769
+1.0
472,692
-2.0
482,242
MTOW
in `000 tons
2,161
+1.1
28,416
-1.7
28,913
Cargo**
in `000 tons
176
+2.6
2,095
+1.4
2,066
Seat load factor
90%
85%
2013
Passenger per movement
2012
+1.8
%
Dec 2012
80%
75%
115
70%
120
125
130
Passenger guidance FY2013:
about previous year‘s level
65%
60%
Dec 2013
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Roadshow Brazil February 2014
* Source ACI, commercial traffic only
** Freight & Mail
Slide 13
Traffic Insight
Traffic Shares at FRA 12M 2013 vs. 12M 2012
Western Europe
Domestic
Eastern Europe
42%
11%
8%
∆
+1%
∆
+1%
∆
+5%
Far East
North America
Frankfurt Airport
14%
∆
12%
∆
+2%
+2%
Middle East
5%
∆
-1%
Africa
Latin America
4%
∆
4%
∆
-4%
+3%
Traffic Share
∆ vs. previous year
Roadshow Brazil February 2014
∆
Continental
Intercontinental
61%
39%
+2%
∆
+1%
Slide 14
Traffic Insight
Group Traffic Figures
in ‘000
Share
Dec 2013
FY 2013
FY 2012
FY 2011
Frankfurt
100%
4,095
58,037
57,520
56,436
2.9
0.9
1.9
6.5
1,254
14,913
13,324
11,796
9.3
11.9
13.0
14.7
602
26,716
24,954
24,964
7.5
7.1
0.0
12.7
21
1,319
1,221
1,182
13.8
8.0
3.4
-3.7
9
2,481
2,381
2,253
-31.7
4.2
5.6
19.0
5,981
103,466
99,401
96,631
4.6
4.1
2.9
9.1
∆ in %
Lima
70.01%
∆ in %
Antalya
51%
∆ in %
Varna
60%
∆ in %
Burgas
60%
∆ in %
Group
∆ in %
Roadshow Brazil February 2014
Slide 15
Traffic Insight
Winter Schedule 2013/2014





Winter schedule with a seat upside of 2.2%
Now 170 Seats in average per aircraft (+2.5%)
Seat growth comes mostly from new larger aircraft types and fleet mix
optimization of the Lufthansa network
Stable movement development - no additional new carriers
Low cost stays over winter with Vueling on Barcelona destination
- now >20k weekly seats to/from BCN (upside: +52% vs. last year)
Roadshow Brazil February 2014
Slide 16
Agenda

Fraport at a Glance

Traffic Insight

Business Development


FRA

External
BACKUP: Financials in Detail
Roadshow Brazil February 2014
Slide 17
Business Development
A-Plus – One Year Operations




New retail offering with positive impact on sales
Retail with an upside of ~10% in 2013 in sales per passenger
In 9M2013 we achieved 3.44€/passenger (+10.3%)
4€/passenger remains mid term target
Net retail revenue per passenger from 2011 on in €
9M 11
€3.05
3.54
3.40
Q4
Q1
2.87
Q3
9M 12
€3.12
9M 13
€3.44
3.95
3.10
2.95
Q2
Q3
Roadshow Brazil February 2014
Q4
3.74
Q1
3.42
3.24
Q2
Q3
Slide 18
Business Development
Ground Handling Cost Competition




Since 2009 new contractual level in Ground Handling in place
Salary of new hired staff ~30% below old salary level / on market level
Still substantial number of staff in old contract
Safeguarding future GH position through further optimizing staff mix
in €‘000
60
Average Ramp service salary
Market level
50
Employees
in ‘000
3
2,5
40
2
30
1,5
20
1
10
0,5
0
0
Old contract
Fraport AG
New contract APS low cost
Fraport AG
subsidiary
Roadshow Brazil February 2014
Ramp service workforce
Old contract
Fraport AG
New contract APS low cost
Fraport AG
subsidiary
Slide 19
Agenda

Fraport at a Glance

Traffic Insight

Business Development


FRA

External
BACKUP: Financials in Detail
Roadshow Brazil February 2014
Slide 20
Business Development External Activities
Pulkovo: Terminal inaugurated





Opening of main building in December 2013
Designed capacity at ~17 million passengers
State-of-the-art retail area of >13,500 sqm
14 Gates and 47 apron positions
Passenger development:
FY 2012: 11.2 mil. (+16.0% yoy) FY 2013: 12.9 mil. (+15.2% yoy)
Roadshow Brazil February 2014
Slide 21
Business Development External Activities
Bulgaria: Varna & Burgas Terminal Openings





New Varna Terminal already opened in August 2013
Varna capacity increased to ~2 million passengers p.a.
New Burgas Terminal opened in December 2013
Burgas capacity increased to ~3 million passengers p.a.
~10% of new Burgas Terminal space is dedicated Retail area
Roadshow Brazil February 2014
Slide 22
Business Development External Activities
Antalya: Retail Measures show Effect




New Open Gate Concept with customized retail facilities in all
International Terminals
Centralized security lanes and implementation of „Walk-through“shop concept with very low capex
Result: 45 minutes additional dwell-time and prevents early
boarding
Retail/Passenger: €4.30 (2010)
€4.77 (2012)
+11%
Roadshow Brazil February 2014
Slide 23
Business Development
M&A: Résumé 2nd round Brazilian Airport Concession
Rio (GIG)
Consortiums
Belo Horizonte
(CNF)
Odebrecht (60%) / Changi (40%)
19,019
Carioca (75%) / ADP (12,5%) / Schiphol (12,5%)
14,500
Fraport (42,5%) / Ecorod. (42,5%) / Inv. (14,99%)
13,113
CCR (75%), Zürich (24%), München (1%)
10,350
1,820
Queiroz Galvão (50%), Ferrovial (50%)
6,566
1,800
Minimum Bids
4,828
1,096
36% - 294%
22% - 66%
Agio spread
1,335
Auction rules
• Interesting and transparent approach
with
−
Two airports tendered
simultaneously
−
Bidders only allowed to win one
Best three offers for each airport
−
and any offer within 10% of best
offer participating in the live auction
Roadshow Brazil February 2014
Live Auction, 22 Nov 2013
Slide 24
Business Development
M&A: Résumé 2nd round Brazilian Airport Concession
Summary view
Privatization process
 Well thought through concession framework (e.g. transition plan, technical requirements)
 Well prepared “vendor’s due diligence”
 Well defined scope (ATC out of scope)
 Mostly full risk assumption of ANAC for issues within the control of SAC e.g.,
 Guaranteed runway capacity
 Swift federal permits
Operator requirement
 Requirement of 25% equity participation of airport operator in SPV
 Higher threshold for participation than in first privatization round (25% equity1, GIG: 22
MM Pax, CNF: 12 MM Pax)
Tender criteria
 High transparency due to award on price only
 No technical proposal (quality of future operation not evaluated) – but operator
requirement > 22 MM Pax insures experienced operators with reputation at risk
Roadshow Brazil February 2014
1) Equity participation on level of concession company
Slide 25
Business Development
M&A: Overview of past privatization processes
Process
Operator
requirem.*
Prequalification
Technical
Proposal
Barcelona/Madrid (canc.)
+++
+
+++1
San Juan
+
+++
+++1**
Delhi/Mumbai
+++
+++
+++
Budapest
+++
++
+++1
Prestina
++
+
+
St. Petersburg
++
++
+++1
Lima
++
++
+++
Sydney
++
++
+++1
Antalya (terminal only)
+++
-
+
Madinah
++
++
+++1
Burgas/Varna
++
++
+++
-
+
ASGA/Natal 2011
(-/+)***
GRU/BSB/VCP 2012
+
-
-
GIG/CNF 2013
+++
-
-
Roadshow Brazil February 2014
+
++
+++
+++1
Caption
none
Weak techn. criteria
Medium techn. criteria
Strong criteria (pass/fail)
Award on fin. and technical
criteria (sum of points)
• Brazilian processes
one of very few
examples of “only
price matters”
• Usually processes try
to evaluate operator’s
experience and
financial & technical
capabilities as well as
technical proposal
Learning curve
*
in comparison to airport’s size and expected growth
** technical + financial proposal basis for shortlisting
*** minimal requirement could be met by subcontracted
operator
Thank you for your Attention!
www.meet-ir.com
Slide 27
Agenda

Fraport at a Glance

Traffic Insight

Business Development


FRA

External
BACKUP: Financials in Detail
Roadshow Brazil February 2014
Slide 28
Financials 9M 2013 & Outlook 2013
Fraport Group Figures
9M 2013
9M 2012
yoy
Revenue
€ mil
1,949.4
1,854.2
+5.1%
EBITDA
€ mil
706.2
673.5
+4.9%
EBIT
€ mil
446.2
430.0
+3.8%
Group Result*
€ mil
216.0
241.6
-10.6%
Free Cash Flow
€ mil
72.1
-76.3
---%
•
•
•
•
Group Traffic Figures in 9M up, small upside in FRA
Revenue increase by 5.1% - adjusted by IFRIC12: 3.2%
Group-EBITDA +4.9% mainly due to Aviation / Retail / External Activities
Net Profit decrease by 10.6% due to extraordinary performance
in asset management in 9M2012
• Free Cash Flow positive
Roadshow Brazil February 2014
** before minorities
Slide 29
Financials 9M 2013 & Outlook 2013
Financial Result
€ mil.
Financial
result
9M 2012
Adjustments
Financial
result
adjusted
Interest
income
Interest
expenses
Result
from
associates
Other
financial
result
Financial
result
9M 2013
-21.3
-128.5
10
-10
-30
-50
-70
-90
-87.2
+3.9
-4.5
-91.7
-2.3
-110
-17.1
-130
-150
Derivatives & currency
Roadshow Brazil February 2014
Miscellaneous
Less capitalized
interest expenses 1
1) Capitalized
Mainly f/x effects
Mainly disposal of
assets In PY
interests acc. to IAS 23: 2012: q1: €7.6 mil., q2: €8.0 mil., q3: €7.6 mil., q4: €4.2 mil.
2013: q1: €4.5 mil., q2: € 4.8 mil., q3: € 4.2 mil.
Slide 30
Financials 9M 2013 & Outlook 2013
Cash Flow 9M 2013
€ mil.
Group
result
500
D&A
260.0 243.5
Operating
cash flow
Intangible
assets
PPE
Airport
operating
projects
462.6 458.5
-13.4 -26.6
400
Investment
property
Free cash
flow
Cash flow 9M 2013
-5.7 -4.3
Cash flow 9M 2012
300
200
Others
216.0
241.6
-267.4
100
0
-100
-200
Roadshow Brazil February 2014
-95.4
72.1
-22.0
-433.9
-77.6
-19.0
-76.3
Slide 31
Financials 9M 2013 & Outlook 2013
Financial Position, Gearing & Outlook
9M 2011/2012
1)
9M 2013
In € mil.
4.363 4.354 4.518
1.846
-76
-264
+72
FCF
2.517
1.517 1.535
2.837 2.983
Liquidity
Gross debt
3.026
2.783 2.916
90%
Net debt
Roadshow Brazil February 2014
Equity 2)
97% 99%
Gearing
9M 2013
FCF at €72.1 mil. (Q3: +€129.3 mil.)
Group liquidity at €1.54 bn.
Gross debt at €4.52 bn.
Net debt at €2.98 bn.
Gearing ratio at 99%
Outlook 2013
FRA capex below €450 mil.
External capex at the lower end of the
€100 mil. to €150 mil. range
Positive FCF possible
Gearing ratio < 110%
1) Personnel
expenses 2012 adjusted in line with IAS 19
2) Equity less non-controlling interests
Slide 32
Financials 9M 2013 & Outlook 2013
Unchanged Outlook
Passengers at FRA
• About previous year‘s level
Revenue
• Growth up to 5%
EBITDA
• € 870 - 890 mil.
EBIT
• At upper range of EBITDA growth:
• At lower range of EBITDA growth:
Group Result*
• Decrease
Dividend
• € 1.25 per share
(proposal to AGM)
Roadshow Brazil February 2014
up to a maximum of~ €520 million
About previous year‘s level
* before minorities
Slide 33
Profit & Loss 9M 2013
Revenue, EBITDA & EBIT up, Group Result down
€ mil.
9M 13
9M 12
Revenue
1,949.4
1,854.2
+5.1
-Excl. IFRIC 12
1,897.5
1,837.8
+3.2
EBITDA
706.2
673.5
+4.9
EBIT
446.2
430.0
+3.8
EBT
317.7
342.8
-7.3
Group result
216.0
241.6
-10.6
2.19
2.49
-12.0
21,110
20,979
+0.6
EPS in € (basic)
9M 2011/2012
1)
9M 2013
In € mil.
%
 Main
1.949
1.791 1.854
646
674
706
226
Revenue
Employees
1)
EBITDA
Roadshow Brazil February 2014
242
216
Group result
revenue drivers: External
Activities, Aviation charges and Retail
 Diluting effects result from property
sales on Mönchhof area
 EBITDA ~5% up at €706 mil.
 Decrease of Group result due to
declined financial result
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 34
Segment Aviation
Slight Revenue Increase, EBITDA and EBIT up
€ mil.
9M 13
9M 12
Revenue
641.7
628.4
+2.1
Staff costs
208.9
207.9
+0.5
EBITDA
178.0
165.2
+7.7
27.7%
26.3%
+1.4 PP
91.8
83.0
+10.6
6,232
6,271
-0.6
EBITDA margin
EBIT
Employees
9M 2011/2012
577
628
1)
9M 2013
In € mil.
642
150
Revenue
165
178
EBITDA
Roadshow Brazil February 2014
84
83
EBIT
92
1)
%
Revenue mainly up due to higher
average Aviation charges
Opex burden from A-Plus and winter
services
EBITDA also up due to one-off effect of a
€10.5 mil. provision created in Q2/2012
D&A up due to A-Plus
EBIT nonetheless up
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 35
Segment Retail & Real Estate
Overall solid Performance
€ mil.
9M 13
9M 12
Revenue
347.2
334.6
+3.8
35.7
34.8
+2.6
264.9
253.3
+4.6
76.3%
75.7%
+0.6PP
203.8
199.0
+2.4
649
626
+3.7
Staff costs
EBITDA
EBITDA margin
EBIT
Employees
9M 2011/2012
341
335
1)
9M 2013
In € mil.
347
250
253
265
200
Revenue
EBITDA
Roadshow Brazil February 2014
199
204
1)
%
Stable increase in earnings from A-Plus
Diluting revenue and earnings effect
from Mönchhof property sales2)
Solid increase in EBITDA
D&A up due to A-Plus
EBIT up
EBIT
2) 2012
1) Personnel expenses 2012 adjusted in line with IAS 19
includes property sales on Mönchhof site of €16.5 mil. / 2013: €7.8 mil.
Slide 36
Segment Retail & Real Estate
Retail Spend +10% due to A-Plus
€ mil.
9M 13
9M 12
%
Real Estate
135.2
125.9
+7.4
Parking
56.6
55.8
+1.4
Others1
10.7
23.2
-53.9
144.8
129.7
+11.6
-Shopping
90.8
83.6
+8.6
-Services2
38.1
36.1
+5.5
-Advertising
23.1
18.3
+26.2
Retail
Net retail revenue per passenger from 2011 on in €
9M 11
€3.05
3.54
3.40
Q4
Q1
2.87
Q3
9M 12
€3.12
9M 13
€3.44
3.95
3.10
2.95
Q2
Q3
Roadshow Brazil February 2014
Q4
3.74
Q1
3.42
3.24
Q2
Q3
Due to inauguration of Pier A-Plus
Retail per passenger:+10.3% at €3.44
Key driver for increase: Shopping
and Advertising revenue
Real Estate revenue also up due to
A-Plus
Stable Parking business
1) 2012
includes property sales on Mönchhof site of €16.5 mil. / 2013: €7.8 mil.
according to old segment structure, differences due to IT services
2) Revenue
Slide 37
Segment Ground Handling
Revenue slightly up, Nonetheless EBIT negative!
€ mil.
9M 13
9M 12
Revenue
496.5
493.0
+0.7
Staff costs
302.5
304.2
-0.6
30.1
35.2
-14.5
6.1%
7.1%
-1.0PP
-0.3
8.8
-
8,986
8,865
+1.4
EBITDA
EBITDA margin
EBIT
Employees
9M 2011/2012
498
493
1)
9M 2013
In € mil.
497
42
Revenue
35
EBITDA
Roadshow Brazil February 2014
30
16
9
0
1)
%
Despite less MTOW, revenue up due to
winter services and price effects
Higher opex from winter services
Disproportionate decrease in EBITDA
due to release of provision in Q2 2012
D&A up = EBIT negative
EBIT
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 38
Segment External Activities & Services
Strong Performance driven by Majority Holdings
€ mil.
9M 13
9M 12
Revenue
464.0
398.2
+16.5
-Excl. IFRIC12
412.1
381.8
+7.9
Staff costs
167.1
164.8
+1.4
EBITDA
233.2
219.8
+6.1
50.3%
55.2%
-4.9PP
EBIT
150.9
139.2
+8.4
Employees
5,243
5,217
+0.5
EBITDA margin
9M 2011/2012
1)
9M 2013
In € mil.
464
376
398
205
220
233
126
Revenue
EBITDA
Roadshow Brazil February 2014
139
EBIT
151
1)
%
Strong passenger increase in Lima,
Antalya, Varna & Burgas drives revenue
Adjusted by IFRIC 12:
revenue ~8% up at €412 mil.
Solid increase also in EBITDA & EBIT
Adjusted EBITDA margin at 56.6%
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 39
Majority Holdings in External Activities
Antalya
Figures before consolidation
mil.
9M 13
9M 12
%
22.1
20.7
+6.6
Revenue
263.6
248.4
+6.1
-Excl. IFRIC12
263.6
248.4
+6.1
EBITDA
231.1
219.6
+5.2
87.7%
88.4%
-0.7PP
157.3
146.1
+7.7
481
479
+0.4
Passengers1
EBITDA margin
EBIT
9M 2011/2012
242
248
9M 2013
264
214
220
In € mil.
231
141
Revenue
EBITDA
Roadshow Brazil February 2014
146
EBIT
157
Employees
Good summer season driven by
international and domestic demand
Additional benefit from crisis in MENA
region
Good Retail trend on top of passenger
performance
Solid EBITDA and EBIT increase
1) Percent
change based on unrounded figures
Slide 40
Majority Holdings in External Activities
Lima1
mil.
9M 13
9M 12
%
11.1
9.8
+12.2
Revenue
154.5
140.6
+9.9
-Excl. IFRIC12
144.8
133.0
+8.9
53.9
49.6
+8.7
34.9%
35.3%
-0.4PP
EBIT
43.7
40.0
+9.3
Employees
553
585
-5.5
Passengers2
EBITDA
EBITDA margin
9M 2011/2012
141
9M 2013
In € mil.
155
111
50
40
Revenue
EBITDA
Roadshow Brazil February 2014
54
32
40
EBIT
44
Ongoing strong development on
international and domestic routes
Revenue, EBITDA and EBIT in line with
strong passenger performance
Adjusted EBITDA margin at 37.2%
Negative US-$ effect
1)
Figures refer to IFRS accounting, not local GAAP
2) Percent change based on unrounded figures
Slide 41
Majority Holdings in External Activities
Varna & Burgas
mil.
9M 13
9M 12
%
3.7
3.5
+5.5
Revenue
89.2
52.5
+69.9
-Excl. IFRIC12
47.0
43.7
+7.6
EBITDA
30.1
27.6
+9.1
EBITDA margin
33.7
52.6
-18.9PP
EBIT
24.5
22.3
+9.9
1.176
1.219
-3.5
Passengers1
9M 2011/2012
9M 2013
In € mil.
89
51
53
28
26
Revenue
EBITDA
Roadshow Brazil February 2014
30
21
22
EBIT
25
Employees
Summer season at Black Sea coast with
solid passenger growth
Increase in passenger numbers driven
by demand from Russian travelers
Strong IFRIC 12 effect of +€33.4 mil.,
due to the new Terminals at both sites
Adjusted EBITDA margin at 64.0%
1) Percent
change based on unrounded figures
Slide 42
Consolidated Income Statement1
9M 2013
Roadshow Brazil February 2014
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 43
Consolidated Statement of Cash Flows1
9M 2013
Roadshow Brazil February 2014
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 44
Consolidated Statement of Financial Position1
9M 2013
Roadshow Brazil February 2014
1) Personnel
expenses 2012 adjusted in line with IAS 19
Slide 45
Revenue Split
9M 2013
Roadshow Brazil February 2014
Slide 46
Financial Position
Maturity Profile & Cash Position as of September 30, 2013
€ mil.
Fraport debt conditions on average
5000
4,517,8
4000
~
4 % interest rate
~
6 years maturity
Loans of Infrastructure Banks of € 1,110 mil.
Bond of € 800 mil. & Private Placement of € 150 mil.
3000
Promissory notes “Schuldscheindarlehen” of € 1,265 mil.
Other financial liabilities
Liquidity
2000
1,535,2
1,173.7
1000
0
36.8
09 2013 09 2013 2013
Roadshow Brazil February 2014
289.9
2014
509.6
2015
501.8
2016
412.8
2017
557,6
235.2
2018
2019
2020
411,4
323,8
19,6
2021
2022
2023++
Slide 47
Majority Holdings in External Activities
AYT Consolidation Change as of Jan. 1, 2014
€ mil
FY2012
Antalya share
Restated 2012
Revenue
2,442
151
2,291
EBITDA
851
130
721
D&A
353
54
299
EBIT
498
76
422
Financial result
-132
-46
-63
-174
-45
-129
thereof Interest
-29
thereof accrued Interest
thereof result from joint
ventures
Group result
€ mil
Net debt
Roadshow Brazil February 2014
23
252
23
252
Dec. 31, 2012
Antalya share
Restated 2012
2,935
130
2,805
Slide 48
Special & Extraordinary Effects
9M 2013
9M 2013
9M 2012
Segment Retail & Real Estate
Property sales Mönchhof area
 Revenue: €7.8 mil.
Segment Aviation
Creation of provision for regional fund, Q2/2012
 EBITDA: ~€10.5 mil.
Financial Result
 Market valuation of derivatives & currency
fluctuations: +€6.2 mil.
Segment Retail & Real Estate
Property sales Mönchhof area
 Revenue: €16.5 mil.
Segment Ground Handling
Release of provision, Q2/2012
 EBITDA: €9.9 mil.
Financial Result
 Market valuation of derivatives & currency fluctuations:
+€4.5 mil.
Roadshow Brazil February 2014
Slide 49
Investor Relations
Team Contact Details
Fraport AG
Frankfurt Airport Services Worldwide
60547 Frankfurt am Main
www.meet-ir.com
+49 69 690 – 74842
[email protected]
Stefan J. Rüter
Head of Finance
& Investor Relations
+49 69 690-74840
[email protected]
Svenja Ebeling
Investor Relations Assistant
+49 69 690-74842
[email protected]
Marc Poeschmann
Manager Investor Relations
+49 69 690-74845
[email protected]
Florian Fuchs
Manager Investor Relations
& Financial Reporting
+49 69 690-74844
[email protected]
Roadshow Brazil February 2014
Tanja Nagel
Manager Investor Relations
& Financial Reporting
+49 69 690-74846
[email protected]

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