Days before the airport operator’s annual general meeting on May 24, his boss is talking about the development of business in the coming years.
The Frankfurt airport operator Fraport may already be able to return to operating earnings before interest, taxes, depreciation and amortization (Ebitda) in 2023, as in the pre-Corona times.
Above all, the foreign participations will contribute to this, as Fraport boss Stefan Schulte said in his speech published on Tuesday at the upcoming Annual General Meeting (May 24).
According to Fraport, the airports in Greece or Brazil, for example, are recovering faster than the complex Frankfurt hub with their numerous domestic and tourist flights. They should already reach the passenger numbers of 2019 again next year with lower costs. Fraport assumes that for Frankfurt in 2025 at the earliest. Schulte said: “For the operating result Ebitda this means: We expect to reach the level of 2019 here in the group as early as 2023/24.”
Millions in profits expected
In the current fiscal year, the MDax group continues to expect an Ebitda between 760 and 880 million euros. Depending on the course of the Russian war of aggression in Ukraine, the bottom line is said to be a profit of between 50 and 150 million euros.
According to Schulte, Fraport cannot sell the minority stake in St. Petersburg-Pulkovo Airport, which has been dormant since the beginning of the war, for contractual reasons until 2025 at the earliest. After two value adjustments of almost 58 million euros, the commitment is currently still on the books with a residual value of 111 million euros. Fraport has no influence on airport operations or on the question of whether military flights can take place there, Schulte assured again.