In This Article:
Release Date: May 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Passenger numbers showed a positive trend in April, with a 4.8% year-on-year increase at Frankfurt Airport.
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Lima Airport outperformed other airports in Q1 due to capacity additions by airlines, with further growth expected.
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The terminal expansion at Antalya Airport was successfully inaugurated, enhancing its capacity to handle up to 65 million passengers.
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The new wage agreement provides stability with a duration of 27 months, effective from January 1, 2025.
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Retail spend per passenger increased, with advertising revenues growing by more than EUR1 million compared to last year.
Negative Points
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Total revenues were down by around 2% in Q1 2025, with a negative group result of minus EUR26 million.
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The financial result was negatively impacted by lower traffic numbers in Antalya and exchange rate-driven deferred tax effects.
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Operational cash flow decreased to EUR12 million in Q1 due to higher interest payments and concession fees.
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Net debt increased to more than EUR8.6 billion, reaching the peak for the year.
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The new labor agreement is expected to cost EUR40 million to EUR50 million this year for Frankfurt operations.
Q & A Highlights
Q: Can you provide more details on the traffic performance at Frankfurt Airport and the factors affecting it? A: The slight reduction in passengers of 0.9% in Q1 was mainly due to the timing of the Easter holidays, which started in April this year, and capacity constraints from Lufthansa. However, April saw a 4.8% increase in traffic, aligning with our expectations. We anticipate further growth over the summer season, targeting up to 64 million passengers in 2025. - Matthias Zieschang, CFO
Q: What is the status of the major expansion programs at your international airports? A: The terminal expansion at Antalya Airport was inaugurated on April 12, 2025, allowing it to handle up to 65 million passengers. The new terminal at Lima Airport is set to open on June 1, 2025, with a soft opening scheduled for this week. Terminal 3 in Frankfurt is progressing well and is expected to open in 2025. - Matthias Zieschang, CFO
Q: How is the new wage agreement expected to impact your financials? A: The new wage agreement, effective January 1, 2025, includes a two-stage wage increase and other benefits, costing approximately EUR40 million to EUR50 million this year for Frankfurt operations. This agreement provides stability until March 2027. - Matthias Zieschang, CFO