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The opening of Frankfurt’s Pier A-Plus has helped lift revenue per passenger |
GERMANY. The key indicator of net retail revenue per passenger climbed sharply at Frankfurt Airport in 2012, as Fraport Group’s Retail & Real Estate arm helped the company turn in a healthy set of annual results.
Net retail revenue per passenger rose +4.7% from €3.17 in 2011 to €3.32 in 2012 (following a +5% increase from 2010 to 2011). It benefited from investment in new facilities, most recently an additional 12,000sq m of commercial space at Frankfurt, opened in Pier A-Plus last October.
“The Retail and Real Estate business segment contributed to the positive development of the company’s financial figures,” said Fraport today.
Retail alone climbed by +7.1% in revenue to €179.8 million. Within this, shopping revenues climbed +10.8% to €114.1 million, driven by a strong performance from duty free and fashion. Advertising revenues slipped by -5.4% to €27.9 million.
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Shopping out-performed the rest of the Retail segment |
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Net retail revenue per passenger has grown sharply in the past two years |
Fraport Group revenue climbed by €70.8 million to €2.44 billion, while Group EBITDA (earnings before interest, tax, depreciation and amortization) rose by €48.4 million to €850.7 (up +6%).
Passenger traffic climbed by +2.9% to 99.4 million passengers at Fraport’s five majority-owned airports. At its Frankfurt Airport home base, the number of passengers grew by 1.1 million to 57.5 million in 2012, up +1.9% year-on-year.
With increased depreciation and financing costs from new projects, the group result before minority interest only increased slightly (+0.3%) to €251.6 million in 2012.
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Fraport posted solid increases in revenue and EBITDA in 2012 |
Fraport AG Executive Board Chairman Dr. Stefan Schulte said: “Overall, our company developed well during the 2012 business year, and we met expectations. Compared to many other German and European airports, Frankfurt Airport performed well in a difficult environment – and gained more than one million passengers.
“Thanks to the investments Fraport has made at Frankfurt, we have built a strong foundation for the future. This provides us with the necessary growth reserves and secures our connectivity, reliability and high service level for increasing our competitiveness.”
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Traffic growth was driven by destinations beyond Europe |
Schulte noted that the European air transport industry “is currently marked by economic and structural challenges”. He said: “The macro-economic environment will also remain challenging in 2013. The sector-specific burdens resulting from the planned European Emissions Trading System (ETS) and the German air transportation tax have a dampening effect on aviation demand. This, in turn, leads to airlines reducing their flight offerings. However, we essentially expect stable passenger figures at Frankfurt Airport during the current business year.”
In 2013, Fraport expects Frankfurt passenger volume to be at about the same level as in 2012, revenue to increase by up to +5%, and EBITDA to reach about €870 million to €890 million. The Group result is expected to be lower than for the previous year, due to the continuing rise in depreciation and financing costs.
February traffic figures
Fraport also revealed February traffic figures today, with Frankfurt Airport passenger numbers up marginally (+0.2%) to 3.6 million compared to February 2012.
Traffic at Lima Airport continued to grow strongly, rising by +11.6% year-on-year to 1.15 million. At Antalya, numbers climbed by +3.1% to 627,411.
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How Fraport Group traffic performed airport by airport in February |
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