GERMANY. Frankfurt Airport posted a +9% year-on-year increase in Q2 retail revenue to €48 million, doubling the +4.5% rise in passenger numbers (+7% in H1, equivalent to about 86% of pre-pandemic levels).
Average retail revenue per passenger (see breakdown in chart below) reached €3.10 in Q2, up +3% year-on-year, matching the 2019 pre-pandemic level. Shopping and services revenue per passenger, however, eased -2.3% to €2.62.
For the first-half year, average retail revenue per passenger rose +2.2% to €3.21 with shopping and services revenue per passenger down -1.1% to €2.69.
Fraport Airport parking revenues for the quarter grew by +5% year-on-year to €27 million.
The positive retail performance was revealed as Fraport Group, operator of the leading German airport and several foreign gateways, reported a +13% year-on-year rise in income to €2,038.8 million for the first half. EBITDA increased +17.8% to €567.1 million.
Group Retail & Real Estate revenue rose +6.8% (+€16.1 million) to €251.5 million, driven by higher retail and parking revenue (+€8.6 million and +€3.1 million, respectively). Net retail revenue per passenger increased +2.23% to €3.21.
Fraport’s operating result or EBITDA (earnings before interest, taxes, depreciation, and amortization) reached €567.1 million, up +17.8% year-on-year in H1.
The Group result, or net profit, surging by nearly +90% year-on-year to €160.8 million.
Fraport noted the Group’s revenue was boosted by its international business. Major contributions came from Fraport USA (up €33 million), after the subsidiary took over centre management operations at Washington D.C.’s Dulles and Ronald Reagan airports at the start of the year.
Most of Fraport’s Group airports outside Germany recorded ongoing passenger growth during the first half.
Fraport CEO Dr. Stefan Schulte commented: “In the second quarter of 2024, we successfully continued our positive financial performance from the beginning of the year. Passenger numbers in Frankfurt grew by about +4.5% in the April to June period. However, compared with the +10.4% increase seen in the first quarter, the positive trend in Frankfurt has slowed down during the second quarter.
“Our international business continues to be the main growth driver for our company. Fraport’s 14 Greek airports achieved new passenger records in the first half – as did our Group airports in Antalya and Lima.” ✈
