Fraport AG (FPRUF) Q4 2024 Earnings Call Transcript

2025-03-18 19:39:04 ET

Fraport AG (FPRUF)

Q4 2024 Earnings Conference Call

March 18, 2025, 8:00 AM ET

Company Participants

Christoph Nanke - Senior Vice President, Head of Finance and Investor Relations

Stefan Schulte - Chairman and Chief Executive Officer

Matthias Zieschang - Chief Financial Officer

Conference Call Participants

Ruxandra Haradau-Doser - HSBC

Cristian Nedelcu - UBS

Elodie Rall - JPMorgan

Carlos Caburrasi - Kepler Cheuvreux

Andrew Lobbenberg - Barclays

Dario Maglione - BNP Paribas Exane

Christian Cohrs - Warburg Research

Marcin Wojtal - Bank of America

Jose Arroyas - Santander

Graham Hunt - Jefferies

Nicolas Mora - Morgan Stanley

Presentation

Operator

Ladies and gentlemen, welcome to the publication Full Year Figures 2024 and Annual Report 2024 Conference Call and Live Webcast. I'm Moritz, the Chorus Call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question-and-answer session. [Operator Instructions]

At this time, it's my pleasure to hand over to Christoph Nanke, SVP, Head of Finance at IR. Please go ahead, sir.

Christoph Nanke

Thank you, Moritz, and warm welcome from my side. I have with me in the room Stefan Schulte, our CEO and Matthias Zieschang, our CFO. I know you have a lot of questions, but before that, we start with the presentation right now.

Please go ahead, Stefan.

Stefan Schulte

Yes. Christoph, thanks very much. Good afternoon, ladies and gentlemen, and a warm welcome also from my side. Let me start my presentation today with a positive message. Despite a challenging environment, we achieved our financial and operational targets in the past fiscal year. So, we achieved an EBITDA in the middle of our guidance range and a net result in the upper area of the expectations.

Moreover, despite heavy investments, we achieved a stable leverage ratio, which is still quite, there is no question, but at least as expected. What have been the main challenges that we are facing? Firstly, our main customer in Frankfurt, Lufthansa, is still waiting for its new wide body aircrafts, currently more than 40 long-haul planes are induced which were already meant to be replaced by new modern aircrafts focusing on last year only Lufthansa expected the delivery of 15 new Boeing 787.

As of today, none of these planes are flying Frankfurt or have been even delivered. Additionally, the maintenance of the Pratt & Whitney engine exposed shortfall aircraft reduced our Frankfurt capacity by about 3% to 4% last year and probably likewise this year. But there are some positive signals that the 787, 10 to 15 could achieve could come to Frankfurt somewhere in the second half of this year....

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