Fraport has announced FY21 results which were better than our expectations, the difference arising from higher cost savings and governmental compensations, but it has provided a conservative outlook for FY22. Due to the ongoing expansion projects that cannot be entirely delayed, capex is expected to remain at an elevated level of ~€1.1bn until 2024 (up to the termination of Frankfurt T3’s construction work). The group has not proposed any dividend for FY20.


Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Guidance for 2022 too cautious
Fraport has announced FY21 results which were better than our expectations, the difference arising from higher cost savings and governmental compensations, but it has provided a conservative outlook for FY22. Due to the ongoing expansion projects that cannot be entirely delayed, capex is expected to remain at an elevated level of ~€1.1bn until 2024 (up to the termination of Frankfurt T3’s construction work). The group has not proposed any dividend for FY20.