Fraport marks ‘cautious start’ to fiscal year as Q1 2025 net profit turns negative

The airport company posted a -16.5% year-on-year decline in operating result during the first three months of the year, despite a +6.3% revenue growth.

May 13, 2025 - 11:10

Fraport marks ‘cautious start’ to fiscal year as Q1 2025 net profit turns negative

GERMANY. In what the company described as the weakest quarter of the year for passenger numbers, Fraport posted a negative net profit of -€26.4 million in Q1 2025, down -308% year-on-year.

Despite revenue growth, operating result or EBITDA stood at €177.5 million, down -16.5% compared to the same period the previous year, when EBITDA was largely driven by non-recurring positive effects.

**Fraport anticipates sustained growth for the year, with expansions at Lima and Antalya airports driving further progress {Images: Fraport}**

The fiscal year opened with a “cautious start”, seeing the company achieve +6.3% revenue growth compared to Q1 2024 to reach €811.3 million.

The result reflects adjustments for income from construction and expansion projects (in line with IFRIC 12).

Fraport CEO Dr Stefan Schulte said: “As expected, the operating and financial performance in the first three months of the current business year was weaker than in 2024. The same period in 2024 benefitted from positive non-recurring effects such as compensation for the effects of the coronavirus pandemic, the extra leap day in February, and the fact that the Easter travel period began in March.

“In 2025, Easter fell in the second quarter. Furthermore, growth drivers were lacking in the German market after yet another increase in regulatory costs at the start of 2025. Nevertheless, we expect our business to continue to show positive growth for the full year, in line with the current outlook.

“Successfully completed expansions to Fraport’s airports in Lima and Antalya will be particularly helpful for stimulating growth.”

Weaker performance in Q1

**Group financials at a glance; click to enlarge**

Fraport Group posted a -2.4% drop in Q1 revenue to €868.5 million (before excluding IFRIC 12-related income), while other operating income plunged -82% year-on-year to €6.1 million compared to the same quarter in 2024.

Q1 performance was notably driven by €28 million in COVID-19 compensation at Fraport Greece.

Fraport’s personnel expenses rose +16% year-on-year to €323.4 million in the three-month period, mainly due to wage hikes under collective wage agreements and an increase in staffing at Frankfurt Airport, a contributing factor in the -16.5% decline in operating result.

**Antalya Airport’s recently opened terminal – developed under the Fraport AG and TAV Airports Holding joint venture – offers an enhanced retail environment**

Outlook for the 2025 fiscal year

Looking forward, Fraport’s executive board noted Q1 passenger volumes tracking steadily, consistent with full-year projections. The airport company forecasts 64 million passengers for the year, with group EBITDA set for slight growth.

The group result is still expected to fall within the projected range, from stable to slightly lower.