Fraport AGM 2024: Executive and Supervisory Boards Report to the Shareholders

Annual General Meeting held as a live in-person event at Frankfurt Airport today

The 23rd regular Annual General Meeting (AGM) of Fraport AG will take place in the Conference Center of the Sheraton Hotel at Frankfurt Airport today (May 28). For the first time after the pandemic, this year’s AGM will be held as a live in-person event.

Fraport CEO Dr. Stefan Schulte will present the highlights of the past 2023 business year to the shareholders at the event. His full (German-language) speech will also be published in written form with the beginning of the AGM at 10:00 a.m. Schulte says: “We are looking back on a challenging, yet positive financial year 2023. Some of the airports in our international portfolio even achieved new traffic records again. Likewise, the expansion projects underway at some of our Group airports worldwide have made great progress during 2023. The EBITDA generated by our global airport network exceeded the 2019 level by 25 percent, while in Frankfurt this figure remained 12 percent below the pre-pandemic level. This fact alone underscores the great importance Fraport’s international business has gained for our overall performance. As part of our international activities, we share our know-how with airports located in growth markets around the globe. This strategy is now increasingly paying off for the Fraport Group as a whole.” This is particularly true given that Germany’s aviation market is experiencing the lowest recovery rates among all European countries, due to high location-related costs. CEO Schulte explains: “The proportion of levies and fees imposed by regulators in Germany has increased to over 30 percent of all location-specific costs incurred by airlines. After civil aviation taxes were raised again as of May 1 this year, the overall share of regulatory costs has now more than doubled in comparison with 2019. This is particularly counterproductive in light of our

commitment to decarbonization. All of us in the aviation industry are pursuing net-zero operations but we also need the necessary financial background to do so.”

Because Fraport can benefit from its broad international portfolio, CEO Schulte remains optimistic for the current 2024 fiscal year: “We are most likely to leave the pandemic fully behind us, specifically as far as our Group result is concerned. While in 2019 Fraport’s net profit still amounted to €454 million, we expect this key performance indicator for 2024 to reach a range between €435 million and €530 million.”

The AGM agenda, a transcript of the CEO speech in German, and further information are available on Fraport’s website. Our website also provides online access to reproduction-quality images for the media

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