23FY PRESENTATION

Dr. Stefan Schulte, CEO Dr. Matthias Zieschang, CFO

March 2024

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

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2

23 FY Presentation, March 2024

Fraport AG

BUSINESS REVIEW

Frankfurt Close to 60mn PAX

Mid Point of 2023 Outlook Achieved

Intl' Airports PAX at 98% of 2019

Mid Term Guidance Fulfilled1

EBITDA above 2019

Mid Term Guidance Exceeded1

Further Steps to Decarbonize

On Our Way to Become CO2 Free by 2045

New Corporate Strategy Revealed

Financial Targets For 2030 Provided

3

23 FY Presentation, March 2024

1 Mid Term Guidance Released in 3Q 2021 Presentation

Fraport AG

FINANCIAL HIGHLIGHTS

€mn

Revenue1 Increase

3,260

▪ Frankfurt: EUR 2.27bn

+1% vs. '19

▪ Intl. Activities: EUR 1.21bn

+19% vs. '19

+7%

2,863

3,485

2019 2022 2023

€mn

EBITDA above 2019

1,180

▪ Frankfurt: EUR 644mn

- 12% vs. '19

▪ Intl. Activities: EUR 560mn

+25% vs. '19

+2%

1,030

1,204

2019

Group Result

€mn

454

▪ Group Result: EUR 431mn

-5% vs. '19

▪ EPS: EUR 4.26

-7% vs. '19

2022

-5%

167

2023

431

2019 2022 2023

4

23 FY Presentation, March 2024

1 Revenue excl. IFRIC 12

Fraport AG

TRAFFIC REVIEW

Frankfurt Close to 60mn PAX

  • PAX Recovery Accelerates over the Course of 2023 with 4Q23 being c.91%
  • China Recovery at c.47% on FY basis with Nov/Dec. being c.78%

Intl' Airports reach 2019

  • Greece with strong Summer Traffic and Season Extension
  • Ljubljana impacted by Absence of Flag Carrier
  • Twin Star impacted by Proximity to Russia/Ukraine
  • Antalya tops 2019 despite Absence of c.4mn Russian PAX
  • Lima with growing Momentum in 2023
  • Brazil impacted by Market Consolidation, predominantely in Fortaleza

23FY Passenger Recovery vs. 2019

Frankfurt

84%

Intl' Airports

98%

Greece

112%

Ljubljana

74%

Twin Star

74%

Antalya

101%

Lima

90%

Brazil

84%

Group

92%

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23 FY Presentation, March 2024

Fraport AG

2024 BUSINESS UPDATE

Frankfurt Summer Schedule

just under 90% of 2019 Seat Capacities Expected

Frankfurt Terminal 3

Parking House Opened, Commercial Areas Awarding Underway

Frankfurt PV Plant

2.8km of Solar Power For Frankfurt by End 2024

Lima Terminal

Opening Date Set For December 18th, 2024

Antalya

Construction 70+% Completed; Opening Q1 2025

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23 FY Presentation, March 2024

Fraport AG

NEW CORPORATE STRATEGY

FRAPORT.2030

3 TOP PRIORITIES

MOST IMPORTANT LEVER

2030 TARGETS

GROWTH &

SUSTAINABILITY

EFFICIENCY &

€ 2Bn.

INNOVATION

Cooperation

EMPLOYER OF

€ 1Bn.

CHOICE

FASCINATE

CUSTOMERS

EBITDA

FREE CASH FLOW

7

Fraport AG

2024 FY OUTLOOK

Frankfurt PAX

Between c.61mn and c.65mn Passengers

EBITDA

Between EUR c.1.26bn and c.1.36bn

Group Result

Between EUR c.435mn and c.530mn

Net Debt / EBITDA

Comparable to YE '23 Value of ~6.4

Dividend

Financial Targets

No Dividend For 24FY Expected

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23 FY Presentation, March 2024

Fraport AG

02

DETAILED FINANCIALS

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23 FY Presentation, March 2024

Fraport AG

CASH FLOW

STRONG OCF, FCF IMPACTED BY EXPANSION CAPEX OF EUR~1.05BN

EUR mn

-330

-43

-71

-45

+57

+2

7,713

7,059

+863

-593

-20

-460

-14

Free Cash Flow FY23: € -656mn

Net debt

OCF

Brazil

Greece

Lima

FRA

Other

Fixed

IAS 23

IFRS

capex

concession

borrowing

16

YE 2022

capex

capex

capex

T3

mostly FRA

payments

cost

Divs from

Other

Net debt

at equity

Dec 31, 2023

companies

Comments

    • OCF on its Way to Recover to Pre-COVID Level, being clearly above FY22
    • Frankfurt and Lima Expansion Continue to Impact FCF Development
    • Net Debt at EUR c.7.7bn, in line with Guidance
    • Net Debt / EBITDA shows Improvement to 6.4x
  2. = Capex in airport op. projects, other intangible assets, PPE, investment property, and at equity investments. No consideration of one-time payments for acquisitions / equity injections to acquire
  3. = OCF - IFRS 16 - Capex + Dividends from at equity investments
  4. = EUR -366mn excluding Equity Injection for Ramp-up of new Antalya Airport Concession

€ mil.

FY23

FY22

%

Operating cash flow

863

787

+9.6

Capex1

1,532

1,154

+32.8

Free cash flow 2,3

-656

-366 /-741

-

Net debt

7,713

7,059

+9.3

Net debt / EBITDA

6.4

6.9

-0.5x

Equity

4,592

4,132

+11.1

Gearing ratio

179

181

-2PP

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23 FY Presentation, March 2024

Fraport AG

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Fraport AG published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 06:26:02 UTC.