Annual Report 2022
The airport brand you trust

Letter from the CEO

Dear Shareholders, we look back on 2022 as a turbulent and difficult year. The coronavirus pandemic became less threatening throughout the course of the year and passenger numbers in Frankfurt and internationally have fortunately recovered strongly…

Dr. Stefan Schulte, CEO
Financial and Non-financial performance indicators
    • €1,029.8



      Increase by €272.8 million due to the positive traffic development at all sites.

    • €166.6


      Group result

      Clearly positive, despite write-off of loan receivables in connection with the activities at St. Petersburg Airport.

    • €–741.0


      Free Cash Flow

      Slightly improved but due to continuing expansion measures still negative.

    • 19,211

      Number of employees

      Headcount increase primarily in the operational areas in Frankfurt (+1,430).

    • 155,449

      m. t. CO2

      CO2 emissions

      Slight decrease (–6.5%) mainly due to the use of renewable electricity and the conversion of the vehicle fleet to electromobility.

    • 48,918,482

      Passengers at FRA

      Passenger volumes only around 30% below pre-crisis levels.

  • Financial performance indicators
    in € mn 2022 2021 Change in %
    Revenue 3,194.4 2,143.3 +49.0
    Revenue adjusted for IFRIC 12 2,863.3 1,901.6 +50.6
    EBITDA 1,029.8 757.0 +36.0
    Group result 166.6 91.8 +81.5
    Earnings per share (basic) (€) 1.43 0.90 +58.9
    Dividend per share 0.00 1) 0.00
    Free cash flow –741.0 –772.3 +4.1
    Total assets 17,607.6 16.240.0 +8.4
    Shareholders’ equity ratio (%) 22.2 23.1
    Group liquidity 3,866.9 3,564.3 +8.5
    Net financial debt 7,058.7 6,369.7 +10.8
    Net financial debt to EBITDA 6.9 8.4 –17.9
    EBITDA margin (%) 32.2 35.3
    ROFRA (%) 6.0 3.4
    Gearing ratio (%) 180.6 169.7

    1) No dividend proposed.


    Non-financial performance indicators
    in € mn 2022 2021 Change in %
    Number of employees as of December 31 19,211 17,781 +1,430
    Average number of employees 18,850 18,419 +431
    Global satisfaction of passengers (Group) in % 80 1)
    Employee satisfaction (Group) 4.76 1)
    Women in management positions (1st level, Germany) in % 23.1 2)
    Women in management positions (2nd level, Germany) in % 31.6 2)
    Sickness rate (Germany) in % 8.7 6,7 +2.0 PP
    CO2 emissions (Group) (Scope 1 und 2) in m. t. 155,449 166,208 3) –10,759

    1) Due to the impact of the coronavirus pandemic, this statistic was not collected in 2021.
    2) Until 2021, the figure was reported combined for the first and second level below the Executive Board.

    3) Due to subsequent verifications 2021 number changed.

The year of 2022
1st Quarter
  • Beginning upward trend in passenger traffic
  • Geopolitical uncertainties as a result of the Russian invasion into Ukraine
Fraport sells stake in Xi'an Airport

Fraport sold its entire 24.5 percent stake for a price of RMB 1.11 billion to Chang'an Huitong Co., Ltd. This marked the end of 14 years of involvement in the airport, during which the airport was successfully transformed from a medium-sized regional airport with about ten million passengers to one of the largest airports in China with more than 40 million passengers.

Fraport and TAV pay upfront fee for the new operating concession at Antalya Airport

The joint venture between Fraport AG and TAV Airports Holding paid Türkiye’s state airports authority (DHMI) the required upfront fee of €1,81 billion for the new 25-year concession to operate Antalya Airport.

Fraport halts its business in St. Petersburg

After the Russian invasion into Ukraine Fraport is suspending its business activities at the minority shareholding that operates Pulkovo Airport. In the course of the year the loan of €163.3 million made to Thalita Trading Ltd. was completely written off.

2nd Quarter
  • Passenger numbers rise further
  • June traffic at Frankfurt marked new record since the outbreak of the of the Coronavirus pandemic
Milestone in the takeover and management of aviation security controls at Frankfurt Airport: Future security service provider selected

FraSec Luftsicherheit GmbH, I-SEC Deutsche Aviation Security SE & Co. KG and Securitas Aviation Service GmbH & Co. KG won the tender to carry out passenger security controls at Frankfurt Airport on behalf of Fraport AG from January 1, 2023.

Summer peak in Frankfurt

In order to manage the summer peak, Fraport implemented numerous measures together with partners. The focus was on recruiting and training personnel for operations. In addition, Fraport and the airlines tried to shift the high volume of traffic to times of day with less traffic.

3rd Quarter
  • High demand for vacation destinations in the summer months
  • Stable and organized operation in Frankfurt over summer months achieved together with process partners
Photovoltaic share continues to grow

In order to increase the proportion of green electricity Fraport installed a photovoltaic system at the Runway West at Frankfurt Airport with 20 PV panels and an output of 8.4 kilowatts. Perspectively, Fraport would like to expand this three-row along the entire Runway West. In the final stage of expansion, the system is to extend over a length of 2,600 meters parallel to the runway and then gene-rate a peak output of up to 13 megawatts.

Terminal 3: New Sky Line presented

Once the new Terminal 3 starts operating in 2026, the new Sky Line train will complement the existing transportation system at Frankfurt Airport and connect the new Terminal 3 with the existing terminals. The first train of the new Sky Line railroad was unveiled in November 2022. When the new railroad goes into operation, up to 4,000 people per hour and direction will travel to and from Terminal 3.

Fraport and Lufthansa establish joint venture "FraAlliance"

With "FraAlliance” in view of Frankfurt Airport, both groups want to cooperate even more intensively on strategic issues and in operational areas in the future. In particular, they want to further develop their long-standing cooperation with regard to improving services in Terminal 1 at Frankfurt Airport. The aim is to increase pro-duct and service quality at Frankfurt Airport.

4th Quarter
  • Traffic volume at FRA reaches for the full year just under 49 million and thus only about 30% behind the pre-crisis level
  • International airports partly above pre-crisis level
Change in the Executive Board

Julia Kranenberg joins the Executive Board team of Fraport AG as the new Executive Director Labor Relations. Ms. Kranenberg suc-ceeds Michael Müller, whose contract expired for reasons of age on September 30, 2022. "I am very much looking forward to contributing my strength, experience and energy to lead Fraport into a positive and successful future."

LAP Signs USD 1,25 Million Financing Agreement for Lima Airport Expansion

The financing is intended for the i nfrastructure and expansion measures at the Jorge Chávez International Airport in Lima, Peru's capital city. The construction measures for the airside expansion, such as a second runway and a new tower have already been completed. The new passenger terminal is scheduled to go into operation at the beginning of 2025.