Fraport has released results for the third quarter of 2025 (Q3), with the Group reporting passenger levels returning to pre-pandemic levels for the first time.
The Group has reported an increase on all key financial figures over the course of the past nine months; with revenue (adjusted for contract income from construction and fit-out work related to the application of the international financial guidelines IFRIC 12) having risen by 7.8% to 3.2 billion EUR, as well as a rise in free cash flow by 366 million EUR to 48 million EUR – the first positive result in a nine-month period.
Net income has risen to 442 million EUR (an increase of 1.7%), with passenger traffic having increased by 4.6% to have accommodated roughly 144 million passengers – a return to passenger levels from before 2019.
The Group’s Greek, Lima and Antalya airports have seen passenger numbers rise by 21.3%, 8.1% and 6.8% respectively, whilst Frankfurt still slightly behind pre-2019 levels at 87.8% of figures from that time.
Dr. Stefan Schulte, CEO of Fraport AG, said:Supported by positive traffic growth, we are well on track financially. However, excessively high state-regulated operating costs in Germany continue to hamper passenger growth. This makes it all the more important that we opened comprehensive capacity expansions this year at our particularly promising international hubs in Antalya and Lima.
The completion of these investment projects has a direct positive impact on free cash flow, which rose to a new record high in the third quarter. For the full year, we are approaching break-even for this key performance indicator.
Fraport has reported revenue growth (according to IFRIC 12) of 7.8% to 3.2 billion EUR at the Frankfurt location as a result of higher revenues received from airport charges (plus 56.5 million EUR), ground handling services (plus 52.7 million EUR) and infrastructure charges (plus 27.8 million EUR), all driven by traffic volumes and prices.
The main drivers of adjusted revenue growth outside of Frankfurt, Fraport Greece (plus 26.0 million EUR) and Fraport Brasil (plus 18.7 million EUR) both grew due to positive traffic deelopments, whilst an unscheduled premium refund related to the company’s pension scheme reduced personnel expenses by approximately 50 million EUR during the quarter, with the EBITDA increasing by 9.8% to roughly 1.2 billion EUR.
Overall, net income after the nine months increased by 1.7% at 442 million EUR, with basic earnings per share rising to 4.30 EUR (an increase from 4.11 EUR in 2024).
The full report and results are available at Fraport’s website, here.
