Notes to the Consolidated Statement of Cash Flows

43 Notes to the Consolidated Statement of Cash Flows

Cash Flow from Operating Activities

In the 2024 fiscal year, a cash flow from operating activities (operating cash flow) of €1,179.1 million was generated (2023: €863.2 million). The increase of €315.9 million compared to the previous year was primarily due to the improved operating result, positive effects from changes in working capital, and an increased net balance of interest income and interest payments.

Cash Flow used in Investing Activities

Cash flow used in investing activities without investments in cash deposits and securities amounted to €1,760.5 million in the past fiscal year, an increase of €277.9 million year-on-year. The increase was primarily the result of higher capital expenditure in airport operating projects, particularly in Lima, as well as increased cash outflows for expansion measures at the Frankfurt site. Considering capital expenditure in and revenue from securities and promissory note loans as well as capital expenditure in relation to time deposits, the overall cash flow used in investing activities was €1,513.6 million (2023: €1,818.9 million).

Cash Flow from Financing Activities

Compared to the previous year, cash flow from financing activities decreased by €305.5 million to €489.9 million. Cash inflows from long-term financial liabilities were particularly affected by the bond issue in the second quarter of 2024. By contrast, the redemption of the existing bond had a considerable impact on the repayment of the long-term financial liabilities. Other significant cash inflows related to project financing at the Group company in Lima.

Under changes in short-term financial liabilities and other financing activities, payments for leasing obligations amounted to €43.4 million (2023: €45.2 million). The capital increases “Non-controlling interests” relate to capital contributions to the company Lima.

Taking into account exchange rate fluctuations and other changes, the Fraport Group reported cash and cash equivalents based on the consolidated statement of cash flows of €950.5 million as at December 31, 2024 (2023: €796.5 million). In the reporting year, financial resources held for specific payment obligations were no longer shown separately in the statement of cash flows as “restricted cash” in accordance with IFRS IC, IFRIC Update April 2022 (for further details, see note 30). The previous year’s figures have been adjusted accordingly.

The following overviews show the composition of cash and cash equivalents and non-cash changes to the liabilities from financing activities. With regard to the development of the leasing liabilities, see note 20.