Fraport Returns to Positive Free Cash Flow in 2025 as Revenue and EBITDA Grow

Fraport Group reported a strong financial recovery in 2025, returning to positive free cash flow for the first time since 2018 as revenue and operating performance improved across its global airport portfolio.

 

The airport operator posted revenue of €4.2 billion for the year, an increase of 8.2 percent compared to 2024, driven by higher passenger numbers, pricing effects and increased demand for ground handling services. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 10.4 percent to €1.44 billion.

Free cash flow reached €24.4 million, marking a significant turnaround from a negative €674.7 million in 2024. The improvement was supported by strong operating performance and the completion of major investment projects across the group’s network.

Despite the operational gains, net profit declined by 6.7 percent to €468.1 million. The decrease was attributed to higher depreciation, increased financing costs linked to expansion projects such as the new terminal in Lima, and the absence of a one-off gain recorded in 2024.

Passenger traffic across Fraport’s global portfolio exceeded pre-pandemic levels for the first time. The group handled 184 million passengers in 2025, slightly above 2019 levels. Growth was particularly strong at airports in Greece, Antalya and Lima, while Frankfurt Airport remained below pre-pandemic volumes, with traffic still 10 percent lower than in 2019.

Cargo volumes at Frankfurt also increased, rising by 1.1 percent to around 2.1 million tonnes, maintaining the airport’s position as Europe’s leading cargo hub.

Looking ahead, Fraport is preparing for the opening of Terminal 3 at Frankfurt Airport on 23 April 2026. The new facility, built at a cost of approximately €4 billion, will add capacity for up to 19 million passengers annually and is expected to improve operational efficiency and passenger experience.

The company is also advancing its sustainability strategy. From July 2026, all electricity consumed at Frankfurt Airport will come from renewable sources, marking a key milestone in Fraport’s goal of achieving net zero emissions across its fully owned airports by 2045.

For 2026, Fraport expects passenger traffic across the group to grow to between 188 million and 195 million. EBITDA is projected to rise further to around €1.5 billion, although net profit is expected to decline in the short term due to higher depreciation and financing costs linked to recent investments.

Fraport has proposed a dividend of €1.00 per share for the 2025 fiscal year, reflecting improved financial stability and confidence in future performance.