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					           Roadshow USA/Kanada


           March 2010
           Marc Poeschmann
           Manager Investor Relations




Slide 2




          Disclaimer

          This document has been prepared by Fraport solely for use in this presentation.

          The information contained i thi d
          Th i f       ti       t i d in this document h
                                                      t has not b
                                                              t been i d
                                                                      independently verified. N representation or
                                                                              d tl     ifi d No           t ti
          warranty – whether express or implied – is made as to, and no reliance should be placed on, the fairness,
          accuracy, completeness or correctness of the information or opinions contained therein. Neither the
          company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in
          negligence or otherwise) for any loss arising from any use of this document or its content or otherwise
          arising in connection with this document.

          This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither
          this document nor any part of it shall form the basis of, or be relied upon in connection with, any contract or
          commitment whatsoever.

          This document contains forward-looking statements that are based on current estimates and assumptions
          made by the management of Fraport to the best of its knowledge. Such forward-looking statements are
          subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results
            including the financial condition and profitability of F
          – i l di th fi        i l    diti      d   fit bilit f Fraport – t diff materially f
                                                                       t to differ   t i ll from or b more negative
                                                                                                    be            ti
          than those expressed or implied by such forward-looking statements. This also applies to the forwardlooking
          estimates and forecasts derived from third-party studies. Consequently, neither the Company nor its
          management can give any assurance regarding the future accuracy of the opinions set forth in this
          document or the actual occurrence of the predicted developments.

          By accepting this document, you agree with the foregoing.




          Roadshow USA/Kanada March 2010
                              Slide 3




                                        Agenda


                                            Fraport at a Glance
                                            Latest Traffic Development
                                            2009 – Milestone Year
                                            Opportunities & Challenges 2010
                                            Outlook




                                        Roadshow USA/Kanada March 2010




                                        Fraport at a Glance
                                        Segment Split of Revenue and EBITDA FY 2009
                                         Aviation                                                                          Retail & Real Estate
                                                                                                             18.4%
              gures FY 2009




                                                                         34.7%
                                                                                         Aviation
                                                                                          20.9%

                                                                                                      Retail &
                                                                                                     Real Estate
                                                                                                       50.6%
                                                                                                                        15.4%
                                                                                      External
                                                                                     Activities &
                                                                                      Services                                  External Activities
Preliminary Fig




                                                                                       25.6%
                                                                                       25 6%        EBITDA                         & Services

                                                                                 31.5%

                                         Ground Handling                                      Revenue


                                         Group EBITDA € 552.9 mil.                                                 Group Revenue € 1.97 bn.

                                        Roadshow USA/Kanada March 2010
Slide 5




          Fraport at a Glance
          Fraport manages a Variety of Airports**

                                                                                                                   Management
                      Hubs                          Regional Airports                  Tourist Airports
                                                                                                                    Contracts
               Frankfurt Main                             Xi’an Airport                    Antalya Airport          Cairo Airport
                Share: 100%                              Share: 24.5%                      Share: 50.0%*)           Duration: 6Y
               53.5 mil. Pass.                           11.9 mil. Pass.                   9.1 mil. Pass.          12.6 mil. Pass.

                Lima Airport                            Hanover Airport                    Burgas Airport          Riyadh Airport
               Share: 70.01%                            Share: 30.0%                       Share: 60.0%             Duration: 6Y
               8.3 mil. Pass.                           5.6 mil. Pass.                     1.9 mil. Pass.          11.8 mil. Pass.

             New Delhi Airport                      St. Petersburg Airp.                   Varna Airport           Jeddah Airport
              Share: 10.0%                             Share: 35.5%                        Share: 60.0%             Duration: 6Y
              23.8 mil. Pass.                          7.1 mil. Pass.                      1.5 mil. Pass.          17.6 mil. Pass.

                                                                                                                    Dakar Airport
                                                                                                                    Duration: 25Y

     *   Equity Share 50% / Voting rights 51%; proportionate consolidation
         Increase of equity share from 34% to 50% in January 2009
     ** 2008 Passenger Figures; Jeddah 2007
     *** Final contract until end of April 2010
          Roadshow USA/Kanada March 2010




Slide 6




          2009 – Milestone Year
          External Activities Portfolio strengthened

                                                                             Varna &
                                                                             Burgas
                                                                                           Saint Petersburg*
                                                                       Frankfurt

                                                                                                                Xi‘an

                                                      Hanover                                  Riyadh

                                                                Antalya



               Lima                                                                Cairo                Delhi
                                                                Dakar                        Jeddah




          Roadshow USA/Kanada March 2010                                                                                *final contracts due until end of April 2010
Slide 7




          Agenda


              Fraport at a Glance
              Latest Traffic Development
              2009 – Milestone Year
              Opportunities & Challenges 2010
              Outlook




          Roadshow USA/Kanada March 2010




Slide 8




          Latest Traffic Development
          Traffic Figures Group January 2010
           in ‘000                         Fraport Share              FY 2008                  YTD 2009                    Jan 2010
           Frankfurt                       100%                        53,467                     50,933                      3,672
                        ∆ in %                                             -1.3                       -4.7                        3.5

           Lima                            70.01%                       8,289                      8,787                         818
                        ∆ in %                                            10.4                        6.1                       10.7

           Antalya      */**               51%                          9,071                      11,013                       513
                        ∆ in %                                             8.5                        5.2                      26.6**

           Varna                           60%                          1,450                      1.220                         17
                        ∆ in %                                             -2.9                      -15.6                      -13.7

           Burgas                          60%                          1,937                      1,705                          5
                        ∆ in %                                             -0.6                      -12.0                      19.6

           Group                                                      74,214***                    73,657                      5,026
                        ∆ in %                                             1.0                        -2.6                       6.6
                                                    * Equity Share 50% / Voting rights 51%; proportionate consolidation;           Increase of
                                                    equity share from 34% to 50% in Jan 2009
                                                    ** Monthly Basis 2009 adjusted due to takeover of 2nd int. Terminal in AYT in Sep 2009
          Roadshow USA/Kanada March 2010            *** Hahn adjusted in 2008
 Slide 9




           Latest Traffic Development
           Traffic Split Frankfurt Airport January 2010
                                                                        W-Europe Domestic E-Europe
                                                                                  35%                 12%                7%
                      North America                                                -2%                 -1%               1%                                    Far East
                                    15%                                                                                                                            15%
                                                                                          Frankfurt Airport
                                    7%                                                                                                                             14%


                                                                                                                                                6%
                                                                                                        6%
                                                                                                                                             +15%
                                                           4%                                           5%
                                                                                                                                        Middle East
                                                           1%                                        Africa
                                               Latin America
                                                                                                                                 Continental                        Intercontinental

                                                                                                                                           54%                                   46%
                             Traffic Share FRA(PAX) 01M 10
                             %-Change 01M 10 vs. 01M 09                                                                                    -1%                                    9%

            Roadshow USA/Kanada March 2010




Slide 10




           Latest Traffic Development
           Upward Trend in FRA
           Passengers                                                                                        Air Freight
                                                                                                                                                                                       +32%
           35%                                                                                               35%

           30%                                                                                               30%

           25%                                                                                               25%

           20%                                                                                               20%

           15%                                                                      +3.5%                    15%

           10%                                                                                               10%

            5%                                                                                                5%

            0%                                                                                                0%

           -5%                                                                                               -5%

           -10%                                                                                              -10%

           -15%                                                                                              -15%
                                    -13%
           -20%                                                                                              -20%

           -25%                                                                                              -25%

           -30%                                                                                              -30%
                                                                                                                                      -26%
                  Jan 08   Apr 08   Jul 08   Okt 08   Jan 09   Apr 09   Jul 09   Okt 09   Jan 10   Apr 10           Jan 08     Apr 08 Jul 08 Okt 08   Jan 09   Apr 09 Jul 09 Okt 09 Jan 10   Apr 10
                                                                                                                             Frankfurt Airport                      German Airports
                                                                                                                             Airports worldwide                     European Airports




           Roadshow USA/Kanada March 2010                                                                                       Source : ACI, ACI Rapid Data Exchange, ACI Pax Flash/FreightFlash, Fraport
Slide 11




           Latest Traffic Development
           Traffic Figures in Europe Full Year 2009


      %

             0

            -1
                                                                                         -0,8
            -2                                                                    -1,5
            -3

            -4

            -5                                                              47
                                                                           -4,7
                                                             -5,1    49
                                                                    -4,9
            -6                                     -5,4

            -7

            -8
                                                          Passengers at European Hubs:
                    -8,4          -8,3      -8,1            12M 2009 vs. 12M 2008
            -9




           Roadshow USA/Kanada March 2010




Slide 12




           Agenda


                 Fraport at a Glance
                 Latest Traffic Development
                 2009 – Milestone Year
                 Opportunities & Challenges 2010
                 Outlook




           Roadshow USA/Kanada March 2010
Slide 13




           2009 – Milestone Year
           Course for future Development set
               Start of expansion in Frankfurt following court approval
               Financing of investment program completed
               Group portfolio strengthened
                          Loss-making Hahn airport sold
                          Increase of shareholding in Antalya
                          Public Private Partnership signed with Saint Petersburg
               Ground Handling labor contract agreed with workers’ council
               Future of airport security agreed on
               Increase of Aviation Fees until 2015 agreed
               Financial Guidance exceeded
           Roadshow USA/Kanada March 2010




Slide 14




           2009 – Milestone Year
           Investment Plans of around € 4.5 bn € 2010-2015
                             1
                                                       3                                 5
                                                                                                                 6


                                                                                 4
                                                                                                 7
                               2




                                                             8                       9



               Expansion

               FRA North

           1 Mönchhof Site                             4   Pier A+ (FRA North)           7   CD – Link (FRA North)

           2 Ticona                                    5 Airrail Center                  8 A380 Maintenance Hangar

           3   The new North-West Runway (Expansion)   6   Gateway Gardens               9   Terminal 3 (Expansion)
           Roadshow USA/Kanada March 2010
Slide 15




           2009 – Milestone Year
           Passenger Scenario at FRA



                                                                                                                                         Growth
                                                                                                                                         corridor




           Roadshow USA/Kanada March 2010




Slide 16




           2009 – Milestone Year
           Long Term Airport Charges Agreement 2010-2015
           • Contract with the airlines signed
                                                          130                                                                               %
                                                                                                                                        +2.9%
             i D        b
             in December 2009 / F b February                                                                                           Jan 2015
             2010 with significant fee                                   Airport charges                                                +2.9%
             increase to finance Fraport                                    level in %                                                 Jan 2014
                                                          120
             investments                                                                                                                +2.9%
                                                                                                                                       Jan 2013
           • Aviation revenue affected:
             527.1 million € (FY2009)                                                                                                   +2.9%
                                                                                                                                       Jan 2012
           • Traffic orientation in the contract          110
                                                                                                                                        +2.5%
                   More passengers than                                                                                                Oct 2011
                   planned, airlines kick-back                                                                                          +3.0%
                   for following year*                    100                                                                          Apr 2011

                   Less passengers than                                                                                                 +3.0%
                                                                                                                                       Oct 2010
                   planned, airport kick-in
                   charges in following year*               90                                                                           +4.0%
                                                                                                                                        Jul 2010
                                                                2009                    +~25%                        2015
           Roadshow USA/Kanada March 2010   * 1/3 of the plan deviation in the years 2012-2015 will be taken as a bonus /malus in the following year
                              Slide 17




                                         2009 – Milestone Year
                                         Capex financing 100% secured
                                                                                                                                                                                                 Source of
                                   € mil.                                                                                                                                                        funds
                                                                                                                                                                                                       Debt of Subsidiaries, ~ € 385 mil.*
                                               Placement of 2 Promissory Notes/
                                   1.088
                                               Schuldscheindarlehen
                                                  2009: € 368 mil.
              gures FY 2009




                                                          5Y Bullet, Spread 210 BP
                                                          8Y Bullet, Spread 250 BP
                                                        10Y Bullet, Spread 270 BP
                                                  2008: € 720 mil.                                                                                                                            1.088     € 4,245.8 mil.




                                                                                                                   Total Investment 2007 – 2015: ~€ 7 bn.
                                                           7Y Bullet, Spread 65 BP                                                                           100%                                       Financial Debt as
                                                           9Y Bullet, Spread 72BP                                                                           Secured!                                    of Dec. 31, 2009
                                                                                                                                                                                              980
                                               Loans of Infrastructure Banks (EIB+LTH),
                                    980        € 980 mil.
Preliminary Fig




                                                                                                                                       7
                                                  4 tranches                                                                                                                                  950**
                                                  Final tranche drawn Dec. 23, 2009
                                                  Margins significantly below average of market                                                                                               € mil.
                                                  Average maturity: ~ 8 years




                                                                                                                                                                     Op. Cash Flow: € 3 bn.
                                    800        Corporate Bond**
                                                  10Y Bullet, Spread 180 BP
                                                                                                                                                                                                                                   *) most part:
                                                                                                                                                                                                                       ~€ 20 Mio. Fraport Immo
                                    150        Private Placement**                                                                                                                                                            ~€ 110 Mio. LAP
                                                  20 Y Bullet, Spread 200 BP                                                                                                                                                  ~€ 255 Mio. AYT

                                                                                                                                                                                                                       **) Proceeds partly used as
                                                                                                                                                                                                                     cash reserve and repayment
                                          Roadshow USA/Kanada March 2010                                                                                                                                            of short term loans (opt. CoC)




                              Slide 18




                                         2009 – Milestone Year
                                         Good Debt Conditions and balanced Maturity*
                              € mil.

                                    4,500
                                                         4,245.8                                                Fraport debt conditions on average
                                    4,000
                                                                                                                  ~ 4 % interest rate
              gures FY 2009




                                    3,500                                                                         ~ 8.7 years maturity
                                                         Tr2 LTH
                                    3,000
                                                         Tr2 EIB
                                               2,601.3                     Bond of € 800 mil. & Private Placement of € 150 mil.
                                                         Tr1 LTH
                                    2,500
                                                         Tr1 EIB           Loans of Infrastructure Banks (EIB+LTH) of € 980 mil.

                                    2,000                                  Promissory note “Schuldscheindarlehen” of € 368 mil.
Preliminary Fig




                                                                           Promissory note “Schuldscheindarlehen” of € 720 mil.
                                                                           P   i        t “S h ld h i d l h ” f             il
                                    1,500
                                                                           Other financial liabilities                                                                                                 1,215.5
                                    1,000
                                                                           Cash & Cash equivalents
                                                                                                                  499.6                                     478.3   475.5                      568.4
                                         500                                                             444.
                                                                                                 155.9    1
                                                                    58.6    52.5                                                                                                                                  213.3
                                                                                       32.7
                                           0
                                               FY2009 FY2009       2010    2011       2012        2013   2014     2015                                       2016   2017                        2018    2019      2020++


                                                                                                                                                                                                             *) as per Dec. 31, 2009

                                          Roadshow USA/Kanada March 2010
Slide 19




           2009 – Milestone Year
           Public Private Partnership: Saint Petersburg
           • Signing of Public Private Partnership on 30 October, 2009;
                t t t t til April 30,
             contract start until A il 30 2010
           • Concession length of 30 Years
           • Fixed concession fee will be 11.5%
           • Fraport- Investment will be maximum €150 mil.
           • Investment Program in a range of €1.4bn until 2013 for the consortium
           • Contract contains developing, modernizing and operating the airport in
             Russia's second largest metropolis
           • Pulkovo Airport had 7.1 million passengers in 2008 - continuous increase




                                                                 35.5%
                                                                                     57.5%


                                                                   7.0%


           Roadshow USA/Kanada March 2010




Slide 20




           2009 – Milestone Year
           Profitability Improvement Ground Handling

            • Fraport keeps its integrated business
              model
            • Cutback of corporate benefits like e.g.:
                • Employee stock plan reduced
                • Extra shift pay reduced
                • Patronage rewards frozen
                • Reduced benefit payments


                  Sustainable i    from 2015
                  S t i bl savings f
            • Contract savings in Ground Handling:
                    ~ € 24 mil. p.a.*
            • Additional savings in administration
                    ~ € 18 mil. p.a.**

                                                                          * Depending on future labor tariff agreements
           Roadshow USA/Kanada March 2010                                ** Only Ground Handling allocation
Slide 21




           2009 – Milestone Year
           Additional Savings Ground Handling Contract*


                                                               Total Contract Savings
                         Cutback of corporate
                         benefits for all Fraport
                              employees
                                                                 Ground Handling
                                                                 Overhead Part
                                                                                                               € 42
                                                                 Ground Handling                               mil.
                                                                 Savings




           Roadshow USA/Kanada March 2010           * Savings through cost freeze depending on future labor tariff agreements




Slide 22




           Agenda


               Fraport at a Glance
               Latest Traffic Development
               2009 – Milestone Year
               Opportunities & Challenges 2010
               Outlook




           Roadshow USA/Kanada March 2010
Slide 23




           Opportunities & Challenges 2010


                     Opportunities                     Challenges

           • Positive Traffic development    • New Ground Handling contract
                                               with Lufthansa
           • Long term fee agreement
             achieved                        • Traffic upside - but still on lower
                                               level than before crisis
           • Lufthansa dominant player in
             Airline consolidation process   • Impact of Lufthansa strike
           • A380 starts operation in FRA
                          p                  • Beauty contest in Aviation
                                               Security
           • New runway on schedule
                                             • General economic situation in
           • Ongoing external/portfolio        Europe and the US
             growth
                                             • EU directive on regulation
           • Fitness@fraport.de


           Roadshow USA/Kanada March 2010




Slide 24




           Agenda


               Fraport at a Glance
               Latest Traffic Development
               2009 – Milestone Year
               Opportunities & Challenges 2010
               Outlook




           Roadshow USA/Kanada March 2010
Slide 25




           Outlook FY 2010


           Passengers                       • Increase at FRA between 1% and 2%


                                            • Increase due to traffic recovery, airport fees,
           Revenue                            Antalya & positive impact of IFRIC12
                                              accounting


           EBITDA                           • EBITDA should be at least €600 mil.



           Net Profit                       • Decrease – mainly due to higher D&A, lower
                                              financial result and special tax effect in 2009



           Dividend                         • Stable absolute amount expected (€ 1.15 per
                                              share)

           Roadshow USA/Kanada March 2010




                  Thank you for your Attention!
                        Online Publication of
                        ua epo t a c 5, 0 0
                     Annual Report March 25, 2010




           Roadshow USA/Kanada March 2010
                                                          www.meet-ir.com
                              Slide 27




                                                 Back up




                                          Roadshow USA/Kanada March 2010




                              Slide 28




                                          Group P&L Statement*
                                          Revenue and Earnings affected by Economic Crisis
                                     € mil.                             FY2008               FY2009                     %
                                                                                                                                       Revenue adjusted by:
                                         Revenue                       2,101.6                1,972.6                -6.1%
                                                                                                                      6.1%
                                                                                                                                         €106.4 il
                                                                                                                                       - €106 4 mil. ICTS & H h (2008)
                                                                                                                                                            Hahn
                                         Revenue adjusted              1,995.2                1,957.5                -1.9%
                                         EBITDA                          600.7                     552.9              -8.0%
                                                                                                                                       - € 15.1 mil. AYT (2009)
              gures FY 2009




                                         EBITDA adjusted                 581.8                     536.0              -7.9%            Negative effect on revenue from decline
                                         EBIT                            359.2                     290.4             -19.2%            in traffic of € 55 mil. (FRA only)
                                         EBT                             297.4                     201.2             -32.3%
                                         Net profit                      196.9                     157.3             -20.1%            Positive effects on revenue from
                                         EPS in €                          2.07                     1.64             -20.8%            external business and low margin
                                                                                                                                       businesses at FRA (FraCareS/Energy Air)
                                                Revenue                       EBITDA                              Net profit
                                                                      28.6%    Margin      28.0%           9.4%      Margin     8.0%   Cost management kept expenses on
                                                                                                                                              level
                                                                                                                                       stable level, despite payrate burden
Preliminary Fig




                                                   -6.1%

                                                    -1.9%                         -8.0%
                                                                                                                                       Tax free Manila payment of € 41.9 mil.
                                         2,101.6            1,972.6
                                                                                  -7.9%
                                                                                                                      -20.1%           in 2008 in net profit
                                                                       600.7              552.9
                                                                                                             196.9
                                                                                                                               157.3

                                                                                                                                                                     Reported

                                         FY2008             FY2009    FY2008            FY2009              FY2008            FY2009
                                                                                                                                                                      Adjusted

                                                                                                                                                                               * including special-/ one off effects,
                                          Roadshow USA/Kanada March 2010                                                                   Figures for FY2008 adjusted to IAS 23: capitalization of borrowing costs
                              Slide 29




                                                         Group P&L Statement
                                                         Negative Traffic Impact on Revenue and EBITDA
                                                                FY 2008               FY 2008                                                                                                                                FY 2009                     FY 2009
                                                        2400    reported              adjusted                                                                                                                               reported                    adjusted
                                                                            -106.4
                                                                            -106 4                 -55.0
                                                                                                    55 0                                                                       +35.8
                                                                                                                                                                               +35 8
                                                        2100                                                              +14.9                  -0.6                                                    -17.7                              -15.1
                               Revenue




                                                                                                                                                                                   Major other
                                                                                                                                                                                      airports
                                                        1800




                                                                                                                                                                                                          Others
                                                                           ICTS                                       Additional                                                                                                           Antalya




                                                                                                                                                      Price effects FRA2
                                                                2,101.6
                                                        1500               & Hahn 1,995.2                             Business                                                                                               1,972.6                      1,957.5
              gures FY 2009




                                                                                                    Traffic Impact
                                                                                                                      in FRA1 –
                                                        1200
                                                                                                                       almost
                                                         900                                                          neutral on
                                                         600                                                           EBITDA
                                                         300                                        FRA
                                                           0

                                   In € mil.                                                                                                                                -37.7
                                                                                                                                                                             -45.8
                                                        700
Preliminary Fig




                                                                           18 9
                                                                          -18.9                 -55.0
                                                        600                                                          -19.7                                                 +20.7
                                                                                                                                                                                          +28.6                    -2.9                       -16.9
                                                                                                                                      -0.6
                                 EBITDA




                                                        500




                                                                                                                                                                                                                   Others3
                                                                600.7



                                                                                                                                                                                                Crisis
                                                                                                                                                                                            Prevention
                                                                                                   FRA
                                                                                                 Traffic
                                                                                                Impact




                                                                          ICTS,
                                                                                                                      Labour Tariff




                                                                                     581.8
                                                                                                                                      Price effects
                                                                                                                                              FRA2


                                                                                                                                                                                                                                 552.9
                                                                                                                                                                   airports
                                                                                                                                                                      Major
                                                                                                                                                                      other                                                                                  536.0




                                                                                                                                                                                                                                               Antalya
                                                                                                                                                                                                                                               Hahn &
                                                        400
                                                                          Hahn &
                                                        300               DB settle-
                                                        200               ment
                                                        100
                                                          0
                                                         6M 20082008        FY adjusted
                                                             FY reported6M 2008 2008                                                                                                                                          FY 2009                     FY 2009
                                                                                                                                                                               see next slide
                                                               reported              adjusted                                                                                                                                 reported                    adjusted
                                                                                                                                                                                                                                1   FraCareS & Energy Air with marginal impact on EBITDA
                                                                                                                                                                                                                                      2Consists   of Airport, Ground Handling & Security fees
                                                         Roadshow USA/Kanada March 2010                                                                                                                            3Including   among others € 5.6 mil. special EBITDA impact from Hahn




                              Slide 30




                                                         Group P&L Statement
                                                         Crisis Prevention: Target Exceeded!*
                                € mil.
                                                         30

                                                         25                                                                                                                                                        -10.0                               -28.6
              gures FY 2009




                                                                                                                                                      -0.9
                                         Cost savings




                                                         20

                                                         15                                       -4.2

                                                         10             -13.5

                                                          5

                                                          0
Preliminary Fig




                                                                 Reduced staff            Reduced non-staff Reduced staff                                                                            Reduced costs                                  Total
                                                                   amount in                  costs in        amount in                                                                               for external                                 savings
                                                                parent company            Ground Handling Ground Handling                                                                                 staff                                     2009
                                                                                                            subsidiaries**


                                                                                   Target Full Year 2009
                                                               => Ground Handling & staff related cost savings of at least €20 mil.

                                                                                                                                                                                                                                       * Excl. costs from new subsidiaries FraCareS & FPS
                                                         Roadshow USA/Kanada March 2010                                                                                                                                                                                       ** APS & FCS
                              Slide 31




                                         Segment Aviation
                                         Declining Results due to lower Traffic Volume
                                                      Revenue                             EBITDA                                   EBIT
                                                                                  22.7%
                                                                                  22 7%      Margin      16.9%
                                                                                                         16 9%          13.0%
                                                                                                                        13 0%      Margin      5.9%
                                                                                                                                               5 9%
              gures FY 2009




                                                         -3.9%

                                                 711,8            683,7                     -28.3%

                                                                                    161,4                                          -56.6%

                                                                                                       115,8
                                                                                                                           92,5

                                                                                                                                             40,1
Preliminary Fig




                                               FY 2008           FY 2009           FY 2008            FY 2009            FY 2008            FY 2009

                                         Negative impact from decline in      Decline driven by negative revenue   Negative Impact from lower
                                         traffic volume: ~ € -35.0 mil.       development                          EBITDA

                                                                              Higher costs from payrate            Higher D&A through capex
                                         Compensating effect from fee
                                                                              agreement ,winter services &
                                         increase (2.3%): € 11.4 mil.
                                                                              energy supply

                                                                              Less costs from investments that
                                                                              can not be capitalized

                                         Roadshow USA/Kanada March 2010




                              Slide 32




                                         Segment Retail & Real Estate
                                         Stable Business and high Margins despite Crisis
                                                      Revenue                             EBITDA                                   EBIT
                                                                                  77.3%
                                                                                  77 3%      Margin      77.1%
                                                                                                         77 1%          61 6%
                                                                                                                        61.6%      Margin      61 1%
                                                                                                                                               61.1%
              gures FY 2009




                                                                                             -2.4%
                                                         -2.1%

                                                 370,7
                                                                                             +1.2%
                                                                  362,9                                                            -2.8%
                                                                                    286,7              279,9                       +1.6%

                                                                                                                           228,2             221,7
Preliminary Fig




                                               FY 2008           FY 2009           FY 2008            FY 2009            FY 2008            FY 2009

                                         Less property sales in 2009          Special effect of DB settlement in   Decrease on reported level
                                         (€ -8.4 mil.)                        2008 (€ 10 mil.)

                                         Additional revenue from              Slight increase on adjusted level
                                         Energy Air (€ +4.9 mil.) & Parking   due to less costs for investments    Increase on adjusted level
                                                                              that can not be capitalized
                                         Decline in retail revenue due to
                                         lower PAX amount                                                                             Reported
                                                                                                                                       Adjusted
                                         Roadshow USA/Kanada March 2010
                              Slide 33




                                         Segment Retail & Real Estate
                                         Retail per PAX – Slight increase despite Crisis
                                         Retail & Real Estate Revenue FY 2008                                    Retail & Real Estate Revenue FY 2009
                                         € mil                                                                                                                                 € mil
              gures FY 2009




                                                      370.7                                          -2.1%                                                   362.9
                                         Others           18,1                                                                                                10,4         Others

                                         Parking          57,7                                                          € 2.86 / PAX                          62,2        Parking
                                                                                                    +0.7%
                                                                           € 2.84 / PAX

                                         Real
                                                      150,4
                                                         ,                                          -4.0%                                                                   Real
Preliminary Fig




                                         Estate                                                                                                               152,9
                                                                                                                                                              152 9
                                                                                                                                                                           Estate
                                                                                 151.6 *                                 145.5 *

                                                                                  26,8            Advertising             24,7
                                                                                  39,5             Services               37,8
                                          Retail
                                                      144,5                                                                                                   137,4         Retail
                                                                                  85,3             Shopping               83,0



                                         Roadshow USA/Kanada March 2010                                           * Revenue according to old/comparable segment structure, difference due to IT services




                              Slide 34




                                         Segment Ground Handling
                                         Impacted by Pricing, Traffic, Labor Costs
                                                      Revenue                                      EBITDA                                                  EBIT
                                                                                           8.1%
                                                                                           8 1%      Margin      2 5%
                                                                                                                 2.5%                          2.9%
                                                                                                                                               2 9%        Margin        -%



                                                           -3.4%
              gures FY 2009




                                                  642,7            620,8                            -69.9%

                                                                                            52,1

                                                                                                                                                  18,8

                                                                                                               15,7                                                   -38,5
Preliminary Fig




                                                 FY 2008         FY 2009                   FY 2008            FY 2009                          FY 2008              FY 2009


                                         Negative impact from decline in           Decline mainly driven by revenue                   € 20 mil. Impairment on Ground
                                         traffic volume: ~ € -20 mil.              impact                                             services in 2009

                                         Additional negative effect from           Additional costs from payrate                      D&A additionally up due to new
                                         lower prices in Ground Handling           agreement (€+9.3 mil.) offset by                   investments
                                         contract                                  crisis prevention measures
                                         Higher revenue from services for          Creation of provisions for partial
                                         people with restricted mobility           retirement increased costs
                                                                                   by € 14 mil.                                                                 Reported
                                         (€+10.0 mil.) without P&L effect
                                                                                                                                                                 Adjusted
                                         Roadshow USA/Kanada March 2010
                              Slide 35




                                         Segment External Activities & Services
                                         Growth Drivers: Lima and Antalya
                                                                                                                                         19.7
                                                      Revenue                                   EBITDA                                              EBIT
                                                                                       26 7%
                                                                                       26.7%     Margin     46 4%
                                                                                                            46.4%                      5 2%
                                                                                                                                       5.2%        Margin         22 0%
                                                                                                                                                                  22.0%
                                                         -18.9%
              gures FY 2009




                                                         +8.3%
                                                                                                 +40.8%
                                                 376,4                                                                                            >100%
                                                                                                 +31.7%
                                                                  305,2
                                                                                                                                                  +28.8%
                                                                                                          141,5
                                                                                                                                                                67,1
                                                                                         100,5


                                                                                                                                          19,7
Preliminary Fig




                                               FY 2008            FY 2009               FY 2008           FY 2009                      FY 2008               FY 2009

                                         Portfolio improvement                   Deconsolidation of ICTS and Hahn             € 22.9 mil. Hahn depreciation
                                         shows effect                            improves margins                             in 2008

                                         Consolidation of Antalya increased      Decreasing costs in IT and facility          Slight increase in D&A due to Lima
                                         from 34% to 50%                         management                                   and Antalya

                                         Positive development of                 Sale of Hahn with a positive effect
                                         Lima continues                          on EBITDA in 2009                                                       Reported
                                                                                                                                                          Adjusted
                                         Roadshow USA/Kanada March 2010




                              Slide 36




                                         Segment External Activities & Services
                                         Business Development in Majority Holdings
                                         Figures before consolidation

                                         Antalya           mil.               FY2008      FY2009             Δ%
                                                                  *                                                      Increase i PAX numbers d t t k
                                                                                                                         I         in           b    due to take
                                                           PAX                   9.1            11.0        20.9         over of 2nd int. Terminal on Sept. 23,
                                                           Revenue              79.3            94.4        19.0         2009
              gures FY 2009




                                                           EBITDA               57.9            69.3        19.7         Increase in dividend stake and
                                                           EBIT                 22.3            17.0        -23.8        consolidation from 34% to 50% as of
                                                                                                                         January, 2009
                                         Lima              mil.               FY2008      FY2009             Δ%
                                                                                                                         Positive traffic development:
                                                           PAX                   8.3              8.8         6.0
                                                                                                                         +6.0% in PAX
                                                           Revenue**            93.2           109.9        17.9         Higher Retail and Real Estate revenue
Preliminary Fig




                                                           EBITDA**             24.3
                                                                                24 3             30.4
                                                                                                 30 4       25.1
                                                                                                            25 1         due to Terminal extension
                                                           EBIT**               18.2             22.0       20.9         Positive US-$ impact

                                         Twin Star         mil.               FY2008           FY2009        Δ%
                                                                                                                         Less revenue due to lower
                                                           PAX                    3.4              2.9     -14.7         traffic volume
                                                           Revenue               40.6             35.4     -12.8         Cost management could offset
                                                           EBITDA                13.9             13.3       -4.3        bulk part of traffic effect
                                                           EBIT                  10.0              8.8     -12.0         Terminal construction on track
                                                                                                                       * Figures refer to operating company, FY figure Antalya airport at 18.7 mil.
                                         Roadshow USA/Kanada March 2010                                                                       ** Figures refer to IFRS accounting, not local GAAP
                              Slide 37




                                         Group Balance Sheet
                                         Net Financial Debt & Gearing Ratio
                               € mil.                                                                                         Increase in financial liabilities from
                                                     6,578.4*                   8,657.0
                                                                                                                                2.24 bn.      4.25 bn. 2009,
                                                                                                                              € 2 24 bn to € 4 25 bn in 2009
                                                                                                                              mainly due to:
                                                                                                                                   € 980 mil. EIB + LTH tranches
              gures FY 2009




                                                                                                      Financial
                                                                                       4,245.8 liabilities                         € 800 mil. Bond
                                                                          6,055.7                                                  € 368 mil. Promissory Note/
                                                            2,240.8                                                                Schuldscheindarlehen
                                  Other
                                  Assets       5,229.0*                                                                            € 150 mil. Private Placement
                                                                                                      Other                   Increase in liquidity from €1.35 bn.
                                                            1,769.4*                   1,828.3 liabilities                    to € 2.6 bn. due to higher debt
                                                                                                                              position
Preliminary Fig




                                                             165.8                      140.5
                                                                                        67.3% Shareholders’ Net debt increase to € 1.6 bn.**
                                                                                              Equity less
                                                       37.1%                                    minority
                               Liquidity:
                                                                                                                              Gearing up to 67.3%
                                                                                                interests &
                               Cash & Cash 1,349.4 2,402.4*               2,601.3 2,442.4
                                                                                                proposed                      Main cash outflow:
                               equivalents                                                      dividend
                               incl. short-                                                                                       Capex at FRA: ~€ 725 mil.
                               term realizableDec. 31, 2008                 Dec. 31, 2009
                               financial                Gearing                                                                   Ticona payment: ~€ 320 mil.
                               Assets
                                                         Minority interests & proposed dividend
                                                                                  * Figure s for 2008 adjusted due to IAS 23: capitalization of borrowing costs
                                         Roadshow USA/Kanada March 2010          ** Net debt = Financial Liabilities-Liquidity (Cash & Cash equivalents incl. short-term realizable financial Assets)




                                         Profit & Loss Statement / Cash Flow Statement*
              gures FY 2009
Preliminary Fig




                                         Roadshow USA/Kanada March 2010
                              Balance Sheet*
              gures FY 2009
Preliminary Fig




                                                                            Gearing           37.1 %         67.3%

                              Roadshow USA/Kanada March 2010




                              Quarterly Segment Results*
              gures FY 2009
Preliminary Fig




                              Roadshow USA/Kanada March 2010   * According to IAS 23, D&A and EBIT 2008 have been adjusted
                                         Special Effects & Adjustments on Group Level*

                                         FY2008                                                   FY2009

                                         Segment: Retail & Real Estate
                                           g                                                      Segment: Ground Handling
                                          Settlement DB Station&Service AG, q2/2008:               Impairment Ground Handling, q4/2009
                                          Other revenue of: - € 10.0 mil.                          D&A of:     € 20.0 mil.
                                          EBITDA of:        - € 10.0 mil.                          EBIT of:    € 20.0 mil
              gures FY 2009




                                         Segment: External Activities & Services                  Segment: External Activities & Services
                                          Sale of ICTS, effective: April 1, 2008:                  Loss compensation for Frankfurt-Hahn, q1/2009
                                          Revenue of: - € 67.3 mil.                                Other revenue of: - € 5.6 mil.
                                          EBITDA of: - € 0.1 mil.                                  EBITDA of:        - € 5.6 mil.
                                          EBIT of:    - € 0.7 mil.                                 Increase of Antalya consolidation (from 34% to 50%),
                                          Sale of Hahn, effective: Feb 28, 2009                    FY/2009
                                          Revenue of: - € 39.1 mil. (March 2008 onwards)           Revenue of: - € 15.1 mil.
                                          EBITDA of: - € 9.0 mil. (March 2008 onwards)             EBITDA of: - € 11.3 mil.
Preliminary Fig




                                          EBIT of:    - € 0 8 mil (March 2008 onwards)
                                                           0.8 mil.                                EBIT of:         2.9 mil.
                                                                                                               - € 2 9 mil
                                          Write down Hahn, q4/2008
                                          D&A of:       € 22.9 mil.                               Effects within the Financial Result
                                          EBIT of:      € 22.9 mil.                                Write down Airrail KG, q3/2009:
                                                                                                   Write down on financial assets: € 7.2 mil.
                                         Effects within the Financial Result                       Provision for future credit commitment Airrail KG, q4/2009
                                          Manila Payment, q3/2008:                                 Other financial result: € 8.0 mil.
                                          Other financial result of: + € 41.9 mil.
                                                                                                  Effects within the Tax Result
                                          Hanover impairment, q4/2008:
                                                                                                   Less taxes due to tax auditing, q4/2009:
                                          Result at equity: - € 16.6 mil.
                                                                                                   Taxes on income: - € 20.5 mil.

                                         Roadshow USA/Kanada March 2010                                                  *Due to internal cost allocation, figures can deviate on segment level




                              Slide 42




                                         IR Contact


                                         Fraport AG
                                         F kf Airport Services Worldwide
                                         Frankfurt Ai     S i       W ld id
                                         60547 Frankfurt am Main
                                         Phone +49 69 690 - 74842
                                         Fax      +49 69 690 - 74843
                                         Email    investor.relations@fraport.de




                                         Stefan J. Rüter, Head of                    Aysegül Bahar-Top, Manager IR      Marc Poeschmann, Manager IR
                                         Finance and Investor Relations              Phone: +49 69 690-74844            Phone: +49 69 690-74845
                                         Phone +49 69 690-74840                      a.bahar-top@fraport.de             m.poeschmann@fraport.de
                                         s.rueter@fraport.de
                                         Roadshow USA/Kanada March 2010

				
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