Q3 2024 Fraport Frankfurt Airport Services Worldwide AG Earnings Call Transcript
Key Points
- Fraport AG (FPRUF) reported a revenue growth of over 10% in Q3 2024, with contributions equally from international operations and Frankfurt.
- The company's EBITDA increased by about 10% year-to-date, aligning with full-year expectations.
- International operations, particularly in Greece and Lima, showed strong performance, contributing significantly to the group's financial results.
- The Terminal 3 project at Frankfurt Airport is progressing well, with approvals in place and expected operational readiness by 2026.
- Fraport AG (FPRUF) is seeing positive developments in its international portfolio, with Lima and Antalya airports preparing for new infrastructure openings.
- Passenger recovery at Frankfurt Airport is lagging behind other European hubs, with geopolitical issues and aircraft shortages impacting growth.
- The German aviation tax increase is creating a competitive disadvantage for Frankfurt Airport compared to other European airports.
- The ground handling segment continues to face financial challenges, with a negative EBITDA expected for the full year.
- High wage inflation and increased operational costs are impacting the company's financial performance.
- The temporary closure of Porto Alegre Airport has negatively affected the group's financial results, though compensations are expected.
Ladies and gentlemen, welcome to the interim report Q3, 9 months, 2024 conference call and live webcast. I'm Moritz, the chorus call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question and answer session. You can register for questions at any time by pressing star and one on your telephone. We for operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast at this time. It's my pleasure to hand over to Christoph Nanke. Please go ahead, sir.
Thank you.
Moritz and welcome also from my side. And thanks to everybody who has dialed in at this special day I have with me in the room, our CEO Stefan Schulte and our CFO Matthias Zieschang. They will start the presentation right now.
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