Fraport Group, a leading German airport operator, has disclosed that its profit attributable to shareholders for the 2023 fiscal year rose to 393.2 million euros, a significant increase from the 132.4 million euros reported the previous year. This growth is reflected in the company's earnings per share which increased from 1.43 euros to 4.26 euros.
The operating result also known as Group EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the company saw a 16.9% increase from the previous year, hitting 1.20 billion euros.
In terms of revenue, the fiscal year 2023 witnessed a 25.2% increase, taking the total to 4.00 billion euros. This was a surge from the previous year's 3.19 billion euros. When adjusted for revenues arising from construction and expansion measures at Fraport's various international subsidiaries, the revenue experienced a 21.7% increase, amounting to 3.49 billion euros.
Fraport CEO, Stefan Schulte, stated that the company aims to achieve further financial records by 2030. These targets include an EBITDA of 2 billion euros and a free cash flow of 1 billion euros, achievable through strategic pursuits in three key areas and leveraging the company's diversified international portfolios.
Fraport served about 59.4 million passengers at its Frankfurt Airport (FRA) in 2023, a growth of 21.3% from the figures recorded in 2022.
For the 2024 fiscal year, the company forecasts passenger volumes in Frankfurt to grow to a range between 61 million and 65 million. The Group's EBITDA is predicted to be around 1.260 billion euros and 1.360 billion euros, and the Group's results are estimated to float in the region between 435 million euros and 530 million euros.
Lastly, Fraport stated its plan to not propose a dividend payment for the 2024 Annual General Meeting. Instead, profits designated for distribution from the 2023 fiscal year will be allocated to revenue reserves, as endorsed by the Executive Board and the Supervisory Board.
