Airport operator Fraport says it has significantly increased its revenue and key operating figures for both the third quarter and the first nine months of 2022 (Jan-Sept), driven by a resurgence in passenger traffic.
The company has benefited from a strong resurgence in the demand for air travel and its expectations of the fourth quarter ‘also remain optimistic’.
The positive traffic development was also reflected in the performance of the Retail & Real Estate segment which registered revenue of €313.5 million (+€81.7 million) and was attributable in particular to higher retail revenue (+€49.1 million).
Net retail revenue per passenger was €3.00 (9M 2021: €3.74).
For 2022 as a whole, Fraport is aiming for a result at the upper end of its forecasts. Likewise, passenger volumes in Frankfurt are expected to reach the upper range of predictions, between about 45 and 50 million.
“Over the past nine months, demand has surged dynamically,” confirmed CEO Stefan Schulte of Fraport AG.
“Following a modest start early in the year due to the braking effect of the Omicron variant of the coronavirus, the volume accelerated significantly from March into the fall.
“This brisk growth is being driven by strong demand from leisure travellers. The airports of Fraport’s international portfolio that are located in popular holiday regions are benefiting to an especially great extent from this trend.
“Our Greek airports have performed particularly well, even exceeding the volumes of pre-crisis 2019 during the first nine months of the year.
“In the third quarter we also significantly boosted the Group’s net profit, which had still been negative in the first half of the year as a result of the complete write-off of our investment in Russia.”
Click graph below to enlarge.
The first nine months of 2022 saw a significant gain in Group revenue, which rose by 57.6% year-on-year to €2.137 billion.
“In view of the positive trend during the first nine months of 2022 and the stable outlook for the fourth quarter, Fraport expects to reach the upper range of the forecast, as adjusted in the interim report on the first half,” stated the airport operator.
For Frankfurt, Fraport still anticipates a total passenger volume of between about 45 and 50 million. Revenue is expected to slightly exceed €3 billion for 2022 as a whole.
Earlier this year, Nina Kristin Gür, Vice President, Retail Key Account Management for Fraport AG, told TRBusiness in an exclusive video interivew, that the rebound in passenger traffic and business trips in particular has exceeded Frankfurt Airport’s expectations, which is pushing retailers and F&B operators into overdrive.