Fraport AG concluded the first quarter of fiscal year 2026 with a positive operating result. Despite the impact of the conflict in the Middle East and numerous strike days in the spring, operating profit (EBITDA) rose by 10,4 percent to €196 million.
This increase was primarily driven by robust passenger growth at almost all locations, as well as price adjustments to airport fees in Frankfurt. While traffic to the Middle East declined due to the war, the airport operator was able to compensate for this through increased demand on routes to the Far East.
Although revenues, adjusted for construction and expansion projects, climbed to over €853 million, the group recorded a net loss of €33,1 million. This decline of €6,7 million compared to the previous year resulted from increased depreciation and higher interest expenses. This is primarily due to completed major projects in the international portfolio, particularly the substantial capacity expansions at the Lima, Peru, and Antalya, Turkey, sites. While these investments are impacting the group's earnings in the short term, they lay the foundation for the operator's long-term growth strategy.
Internationally, the Latin American holdings and the airports in Eastern Europe proved to be the main drivers of growth. Particularly noteworthy were the double-digit growth rates in Brazil and Slovenia, which were partly boosted by the early Easter holidays. Overall, the Fraport Group handled approximately 28,6 million passengers in the first quarter. In Frankfurt itself, despite weather-related disruptions and strikes in February and March, passenger numbers rose by 2,3 percent to 12,7 million. Operational stability was further strengthened by the German government's assurance that the supply of kerosene to Germany would remain secure despite global instability.
For the remainder of fiscal year 2026, the Executive Board, led by Dr. Stefan Schulte, is maintaining its forecast. The Group expects passenger volume of up to 195 million and is targeting EBITDA of up to €1,5 billion. While the operating business is benefiting from the continued high demand for travel, the final Group result is expected to remain below the previous year's level due to financing costs for global expansion projects. The strategic focus is now on the efficient use of the new infrastructure to further increase profitability in the coming quarters.