Nine-Month Results: Robust Performance Driven by Strong International Business  

Group passenger volumes exceed pre-pandemic levels for the first time – Growth driven by international portfolio – Financial indicators improve – International business accounts for 54 percent of EBITDA in Q3 – FY 2026 outlook confirmed – Very strong operational performance in Frankfurt

The Fraport Group has improved key operating indicators over the first nine months of the 2026 fiscal year (ending September 30). Revenue grew by 3.8 percent, while the operating result or EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 2.0 percent. Fraport's operations outside Germany made the largest contribution to growth, with their share of EBITDA increasing significantly. Free cash flow nearly doubled year-on-year, reaching €93 million. However, the Group result declined as expected, mainly due to accounting effects resulting from completed expansion projects.

Fraport CEO Dr. Stefan Schulte: “The broad portfolio of the Fraport Group has proven its value. We’ve achieved a solid result at the Group level, despite a difficult market environment due to the geopolitical situation in the Middle East and steep increases in jet fuel prices. Our international business has been a particular driver. Fraport’s Greek airports, which were already performing strongly, have improved even further. In addition, our airports in Ljubljana, Slovenia, and in Brazil have experienced strong growth and are now only slightly below pre-pandemic levels. By contrast, passenger numbers in Frankfurt have stagnated. Growth in Frankfurt continues to be restrained by excessively high regulatory costs and a reduction in flight offerings, particularly following the shutdown of CityLine. In view of the strength of our international business outside Germany, we are maintaining our financial outlook for the full year.”

Group passenger numbers exceed 2019 levels for first time
In the first nine months of 2026, total passenger numbers for the Group exceeded pre-pandemic levels for the first time, driven by growth in Fraport’s international portfolio. Passenger numbers at Fraport airports increased by 1.7 percent year-on-year to around 146 million overall. New records were set by the Greek airports (up 5.1 percent) and Lima (LIM) in Peru, with volumes at the South American hub advancing by 2.8 percent. Significant increases were also seen at the Fraport airports in the Slovenian capital, Ljubljana (up 15.7 percent), as well as in Brazil (up 9.1 percent) and Bulgaria (up 6.1 percent). Passenger traffic in Frankfurt remained flat, declining by 0.2 percent year-on-year to 47.5 million. At the same time, Frankfurt Airport delivered a very good operational performance. This benefited punctuality in particular, which improved by about six percentage points year-on-year during the busy summer travel period. Overall punctuality levels at FRA were around 74 percent, outperforming other major European aviation hubs in Amsterdam, Paris, and Madrid.    

More details on Fraport’s traffic figures can be found here.

Financial indicators improve amid difficult market environment
Strong growth in Fraport's international portfolio was also the main driver behind the rise in the Group’s key financial indicators. Group revenue increased by €125.7 million, or 3.8 percent year-on-year, to €3,466.0 million during the first nine months.   Adjusting for revenues resulting from construction and expansion measures at Fraport’s international subsidiaries (in line with IFRIC 12), Group revenue improved by 4.7 percent to €3,350.1 million. The largest revenue increases, adjusted for IFRIC 12, came from the Fraport Greece (up €39.3 million) and the Lima (up €33.9 million) subsidiaries.  

Despite a one-off effect in the previous year which reduced expenses by €50 million, Group EBITDA increased by 2.0 percent to €1,178 million – a new record high. The EBITDA share attributable to Fraport’s international business rose significantly, from 43 percent to 48 percent during the reporting period. When considering the third quarter on its own, the international share even rose to 54 percent (Q3/2025: 47 percent).

The Group result (or net profit) was €314.5 million, down 28.8 percent year-on-year. The decline was primarily due to increased interest expenses, as well as higher depreciation and amortization resulting from completed expansion projects in Lima and Frankfurt. Undiluted earnings per share fell to €2.95 (9M/2025: €4.30). Free cash flow surged by 93.4 percent to around €93 million, reflecting positive operating performance and lower capital expenditure following the completion of major expansion projects.

Outlook for the full 2026 fiscal year confirmed
Based on the performance in the first nine months of 2026, the Fraport Executive Board is maintaining its forecast for the Group's asset, financial, and earnings position for the current fiscal year. Passenger growth at the Group level is expected to continue, while FRA is forecast to perform at around 2025 levels.  

Group EBITDA is still expected to increase year-on-year to up to €1.5 billion (2025: €1.44 billion). The forecast for the Group result is also unchanged, with the figure projected to decline to between €300 million and €400 million (2025: €468.1 million).

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