General Statement by the Executive Board

In the past fiscal year, most of the Group airports recorded an increase in passenger numbers compared to the previous year. Accordingly, Group revenue amounted to €4,427.0 million, an increase of €426.5 million over the previous year (+10.7%). Adjusted for contract revenue from construction and expansion services based on the application of IFRIC 12, revenue increased by €407.0 million to €3,892.1 million (+11.7%).

The main components of other operating income were compensation for the negative economic effects of the coronavirus pandemic from the Greek government at the Group company Fraport Greece (€28.0 million) and compensation at the Group site in Brazil (€24.3 million).

Operating expenses (personnel expenses and cost of materials as well as other operating expenses) increased by €368.1 million to €3,274.1 million. Adjusted for expenses related to the application of IFRIC 12, operating expenses stood at €2,739.2 million (+€348.6 million). Group EBITDA was €97.8 million higher than in the previous year at €1,301.8 million thanks to the positive operating development. The financial result improved to –€87.8 million (previous year: –€148.9 million) and resulted in a Group result of €501.9 million (previous year: €430.5 million).

As a result of the increase in operating result, cash flow from operating activities increased to €1,179.1 million (previous year: €863.2 million). Free cash flow decreased mainly as a result of the progress of the expansion programs to –€674.7 million (previous year: –€656.4 million). Group liquidity declined by €104.7 million to €3,936.6 million.

Given the macroeconomic developments, the Executive Board continues to assess the traffic development and, in turn, financial development in the reporting period as positive.