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					                                 London Roadshow

                                 March 11-12, 2009
                                 Dr. Matthias Zieschang
 Preliminary Figures FY 2008




                                 CFO




                               Slide 2




                                 Disclaimer
Preliminary Figures FY 2008




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

                                 The information contained in this document has not been independently verified. No representation or
                                 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 Fraport – to differ materially from or be more negative
                                 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.




                                  Fraport London Roadshow March 2009
                              Slide 3




                                Agenda
Preliminary Figures FY 2008




                                        Group Highlights 2008
                                        Latest News Expansion Program
                                        Traffic Development
                                        Outlook 2009
                                        Financials




                                 Fraport London Roadshow March 2009




                              Slide 4




                                Group Highlights 2008
Preliminary Figures FY 2008




                                        Q1 2008
                                        ICTS sold to Deutsche Beteiligungs AG – effective April 1, 2008
                                        Inauguration of Hall C and C/D Pier – additional capacity of 4 mil. Pax -
                                        state-of-the-art lounge areas - 4 additional wide-body gates, 3 of them
                                        A380 gates




                                        Q2 2008
                                        German federal government decides to pay € 41.9 mil. guarantee
                                        payment as compensation for our terminal project in Manila
                                        New management contracts for the two Saudi-Arabian airports
                                        Riyadh and Jeddah




                                 Fraport London Roadshow March 2009
                              Slide 5




                                Group Highlights 2008
Preliminary Figures FY 2008




                                        Q3 2008
                                        Public Presentation and foundation of the Chinese-German Joint –
                                        Venture Xi’an Xianyang International Airport – Fraport‘s stake is 24.5%
                                        Strikes of our major customer Lufthansa impacts traffic at FRA

                                        Q4 2008
                                        Opening of the largest Duty-Free marketplace of FRA in Terminal 2
                                        Start of construction of the new A-West Pier next to Terminal 1 –
                                        additional terminal capacity for 6 million passengers – inauguration 2012
                                        Fraport finalizes additional credit loans with a volume of
                                        approximately € 1 bn.
                                        By yearend 2008 ~70% of credit line required from the credit market
                                        for expansion/ FRA North until 2015 are secured
                                        Raise of airport charges by around 2% approved by regulator and
                                        executed by January 1, 2009


                                 Fraport London Roadshow March 2009




                              Slide 6




                                Group Highlights 2008
                                Reliability of Fraport Announcements in 2008
Preliminary Figures FY 2008




                                        What we announced….                 what we delivered!

                                        Time schedule expansion             Start of clearing forest as announced
                                        start in 2009                       since 2006

                                        Outlook 2008                        Stable outlook since first communication

                                        Frankfurt-Hahn                      Break-even achievable with Airport
                                                                            Development Fee
                                                                            Alternative negotiations - Exit strategy
                                                                            executed

                                        Financial strategy                  ~70% of credit for all required financing
                                                                            at FRA were secured by yearend 2008

                                        Aviation fees                       Fee increase announced in Nov 2008
                                                                            against market expectation
                                 Fraport London Roadshow March 2009
                                                                            New fees implemented on Jan 1, 2009
                              Slide 7




                                 Group Highlights 2008
                                 Financials *
Preliminary Figures FY 2008




                                                                                Revenue decline due to ICTS sale and Airrail effect
                              € mil.    2,329.0*            2,101.6
                                                   -9.8%
                                                                                EBITDA growth despite recent traffic decline
                                                                                Retail Revenue/Passenger growing to 2.84 €/Pax (+5.6 %)
                                                   +3.8%

                                        2,025.6                       580.5*                    600.7*
                                                                                  + 3.5%

                                                                                   +0.5%
                                                                                                                                          Adjusted
                                                                      587.7**                    590.7                                    Reported

                                                                                                                              213.7*                   180.2*
                                                                                                                                          -15.7%




                                        FY 2007             FY 2008   FY 2007                 FY 2008                        FY 2007                   FY 2008

                                               Revenue                          EBITDA                                        Net profit (before Minorities)
                                 Fraport London Roadshow March 2009    * including special - /one off effects   ** EBITDA 2007 adjusted € 594.2 mil.   including ICTS effect € 587.7 mil.




                              Slide 8




                                 Agenda
Preliminary Figures FY 2008




                                        Group Highlights 2008
                                        Latest News Expansion Program
                                        Traffic Development
                                        Outlook 2009
                                        Financials




                                 Fraport London Roadshow March 2009
                               Slide 9




                                 Expansion Program
                                 Construction started
Preliminary Figures FY 2008




                                         (Interim) Court Decision with immediate effect to start construction was
                                         given in January 2009 in fast track procedure
                                         Start of clearing the forest on January 20, 2009
                                         Until end of February 2009 around 50% of the forest needed for the
                                         new runway was cleared – the entire forest area expected to be
                                         cleared until end of 2009
                                         Construction of bridges over the Autobahn will start in summer –
                                         17 months construction time
                                         Main court case will deal with all complaints in summer 2009
                                         An appeal at German Federal Administrative Court may be possible
                                         New runway will be inaugurated in winter schedule 2011




                                  Fraport London Roadshow March 2009




                              Slide 10




                                 Expansion Program
                                 Construction started
Preliminary Figures FY 2008




                                                                                  approx. 200 ha affected area (approx.
                                                                                  3,600 m x 530 m)
                                                                                  approx. 2,1 Mio. m³ soil movements;
                                                                                  approx. 440.000 m² of paved areas
                                                                                  2 bridges for taxiways und 2 bridges for
                                                                                  perimeter road
                                                                                  approx. 600 m tunnel “Okrifteler
                                                                                  Straße“(and approx. 450 m hutch road)
                                                                                  and replacement of the Okrifteler Straße
                                                                                  2 transformator stations and a station for
                                                                                  fire brigade
                                                                                  more than 700 inspection chambers,
                                                                                  2 storage reservoirs, 8 filter reservoirs,
                                                                                  2 infiltration ditches
                                                                                  approx. 100 km of cables (electricity and
                                                                                  communication)
                                                                                  approx. 60 km of drainage channels
                                  Fraport London Roadshow March 2009
                              Slide 11




                                  Agenda
Preliminary Figures FY 2008




                                         Group Highlights 2008
                                         Latest News Expansion Program
                                         Traffic Development
                                         Outlook 2009
                                         Financials




                                  Fraport London Roadshow March 2009




                              Slide 12




                                  Traffic Development
                                  New Summer Schedule 2009 FRA (preliminary)
Preliminary Figures FY 2008




                                                                         W-Europe /
                                                                                        E-Europe
                                                                         Domestic
                                                                           - 5%           - 1%
                                          North America                                                             Far East
                                            - 5%                                                                       +/-0%
                                                                                             Middle East
                                                                                  Africa       +14%
                                                                                    - 2%
                                                                Latin America
                                                                  - 2%

                              Movements
                              compared to                                       Intercontinental
                              summer
                                                                                      -1%
                              schedule 2008                                                                Source: Fraport based on Airport
                                                                                                           Coordination Germany as of March 03,
                                  Fraport London Roadshow March 2009                                       2009 preliminary figures
                              Slide 13




                                 Traffic Development
                                 Movements at European Airports in SS 09* / **
Preliminary Figures FY 2008




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                                  0
                                                                   -1.2
                                  -5                                             -2.9       -3.3
                                                                                                            -4.8
                                                                                                                      -5.6    -5.7
                                -10                                                                                                      -7.8
                                                                                                                                                   -8.7
                                                                                                                                                             -11.2
                                                                                                                                                                           -12.2
                                -15
                                                                              Movements compared to
                                                                             previous summer schedule
                                -20


                                -25                                                                                                                  * Summer schedule preliminary
                                                                                                                                                     ** Source: OAG February 2009
                                                                                                                                                     *** Fraport based on Airport Coordination
                                                                                                                                                         Germany as of March 03, 2009 preliminary
                                                                                                                                                         figures
                                  Fraport London Roadshow March 2009




                              Slide 14




                                 Traffic Development
                                 Highlights Summer Schedule 2009
Preliminary Figures FY 2008




                                                                                                            Destination Bahrain
                                                                                                            Increase of 4 flights per week to 11

                                                                                                             Destination Muscat
                                                                                                             Introduction of 6 flights per week*

                                                                                                             Destination Mahe/London
                                                                                                             Introduction of 2 flights per week

                                                                                                             Destination Shanghai
                                                                                                             Introduction of 6 CARGO flights per week**

                                                                                                             Destination India/USA
                                                                                                             Increase of 14 flights per week to 28 –
                                                                                                             plus optional 7 flights
                                                                                                                                                             * Starting September 2009
                                  Fraport London Roadshow March 2009                                                                                        ** After delivery of new B-777F aircraft
                              Slide 15




                                 Agenda
Preliminary Figures FY 2008




                                         Group Highlights 2008
                                         Latest News Expansion Program
                                         Traffic Development
                                         Outlook 2009
                                         Financials




                                  Fraport London Roadshow March 2009




                              Slide 16




                                 Outlook FY 2009
Preliminary Figures FY 2008




                                     Passenger volume in FRA:
                                     Decline – growth again for 2010 expected
                                     Passenger volume Fraport Group:
                                     Decline – External Activities’ airports should support positively
                                     Group revenue:
                                     Decrease mainly due to traffic, sale of ICTS and Frankfurt-Hahn
                                     EBITDA:
                                     EBITDA decrease
                                     Group net profit:
                                     Group Net Profit decrease
                                     Dividend:
                                     Stable absolute amount expected


                                  Fraport London Roadshow March 2009
                              Slide 17




                                 Agenda
Preliminary Figures FY 2008




                                         …
                                         Financials
                                                 Group P&L and Segment Results
                                                 Majority Holdings in External Activities
                                                 Balance Sheet & Refinancing Activities




                                  Fraport London Roadshow March 2009




                              Slide 18




                                 Profit & Loss Statement*) - Revenue increased on
                                 adjusted Level - EBITDA on record level
Preliminary Figures FY 2008




                                     € mil.                                       FY 2007               FY 2008               Δ%               • Revenue positively affected by full
                                     Revenue                                       2,329.0              2,101.6               -9.8
                                                                                                                                                 consolidation of Lima, increasing
                                     Revenue adjusted                              2,025.6              2,101.6               +3.8
                                                                                                                                                 Retail revenue and higher income
                                     EBITDA                                          580.5                600.7               +3.5
                                                                                                                                                 from services
                                     EBITDA adjusted                                 587.7                590.7               +0.5
                                                                                                                                               • Revenue adjustments 2007:
                                     EBIT                                            335.4                360.7               +7.5
                                     Net profit***                                   213.7                180.2              -15.7
                                                                                                                                                 € -245.8 mil. ICTS,
                                     EPS                                              2.28                 1.89              -17.1
                                                                                                                                                 € - 57.6 mil. Airrail Center
                                         Revenue
                                                                                                                                               • Operating expenses on adjusted
                                              -9.8%
                                                                                                                                                 level up due to full consolidation of
                                                                                                                                                 Lima & new payrate agreement
                                  2,329.0*) +3.8%
                                                      2,101.6
                                                                                                                                               • Financial result impacted by higher
                                                                            EBITDA                                                               interest expenses due to FRA-North /
                                   2,025.6
                                                                                  +3.5%
                                                                                                                                                 Expansion, Ticona and Antalya
                                                                                  +0.5%    600.7*)
                                                                                                            Net profit***                        investments
                                                                       580.5*)
                                                                       587.7**)
                                                                                           590.7                    -15.7%                     • Exit-Strategy for Frankfurt-Hahn
                                                                                                           213.7
                                                                                                                              180.2
                                                                                                                                                 executed

                                                                                                                                                                   Reported

                                   FY 2007            FY 2008         FY 2007             FY 2008         FY 2007            FY 2008                               Adjusted
                                   * including special - /one off effects       ** EBITDA 2007 adjusted € 594.2 mil.          including ICTS effect € 587.7 mil.
                                  Fraport London Roadshow March 2009            *** before minorities
                                Slide 19




                                    Aviation
                                    Affected by Capacity Constraints & Staff Costs
Preliminary Figures FY 2008




                                                   Revenue                                               EBITDA                                       EBIT
                                                         +/- 0%                                  20.0% Margin 17.9%                           6.4% Margin 8.3%

                                          698.7                         698.4


                                                                                                          -10.5%

                                                                                                 139.6                                               +29.5%
                                                                                                                    124.9
                                                                                                                                             44.8               58.0
                                       FY 2007                        FY 2008                   FY 2007            FY 2008                 FY 2007             FY 2008

                                     • Decrease in revenue from                                • Increasing staff costs due               • Impairment of FraSec in
                                       airport fees due to reduced                               to security services                       2007 amount to
                                       traffic                                                 • Other revenue positively                   € 20.0 mil.
                                     • Increase in revenue from                                  impacted by capitalized                  • Less D&A due to
                                       security services                                         internal work                              expiration of useful lives
                                                                                               • € 7.6 mil. burden through                  in 2007
                                                                                                 payrate agreement on
                                                                                                 permanent staff



                                     Fraport London Roadshow March 2009




                                Slide 20




                                     Retail & Properties*)
                                     Stable growth in Retail and Real Estate
Preliminary Figures FY 2008




                                                    Revenue                                              EBITDA                                       EBIT
                              Airrail Center                                                                                                51.9% Margin 66.0%
                                                         -8.0%
                                                                                                 70.6% Margin 84.9%
                              Effect:                                           Airrail loan
                              € 57.6 mil. 471.4                                      +          77.2% Margin adj. 82.6%
                                                                                Release of
                                                                                Provision                 +10.5%
                                                                                                                    367.9 Settlement DB               +16.9%
                                                         +4.8%                                   333.0
                                         413.8                          433.5                                       357.9                                       285.9
                                                                                                 319.4    +12.1%                             244.6


                                      FY 2007                         FY 2008                   FY 2007            FY 2008                 FY 2007             FY 2008

                                    • Airrail Center effect of                             • Increasing costs for energy                  • EBITDA growth
                                      €57.6 mil. in 2007                                     supply services                              • Less D&A due to
                                    • Growth in Retail and Real                            • Positive effect from DB                        expiration of useful lives
                                      Estate business                                        settlement in 2008, €10.0                      in 2007
                                    • Stable H2 Retail revenue                               mil.
                                      despite downturn in                                  • Positive effects from release
                                      passenger numbers                                      of provisions and Airrail loan
                                                                                             in 2007, € 13.6 mil.
                                                                                                                                                    Reported
                                                                                           • € 5.4 mil. burden through
                                                                                             payrate agreement on                                   Adjusted
                                      *) including special - /one off effects
                                                                                             permanent staff
                                     Fraport London Roadshow March 2009
                              Slide 21




                                 Retail & Properties
                                 Retail per PAX – Growth despite economic Situation
Preliminary Figures FY 2008




                                               Retail & Properties Revenue                                             Retail & Properties Revenue
                                                         FY 2007 *)                                                              FY 2008 *)
                                                                                                         +5.6%
                                          € mil.
                                                                                      2.69 €                             2.84 €
                                                                                      / PAX                              / PAX


                                                                                      + € 19.7 mil.
                                                                                                         +4.8%
                                                        471.4*)
                                                           57.6                          + € 5.8 mil.                                   433.5
                                  Airrail Center                                                         +4.0%
                                                                                                                                          61.8
                                                                                                                                          61.7
                                                          413.8                                                                                      Others
                                                                                       145.8                             151.6
                                         Others             56.1
                                                           56.0                                                                           57.7
                                                                                                                                          57.7
                                                                                                        Advertising                                  Parking
                                                                                        25.6                              26.8
                                         Parking            58.4
                                                            58.4
                                                                                                         Services
                                                                                        35.1                              39.5            151.6
                                                                                                                                         151.6       Retail
                                          Retail          145.8
                                                           145.8

                                                                                        85.1            Shopping          85.3
                                    Real Estate
                                                          153.6                                                                          162.4
                                                                                                                                          162.5      Real Estate
                                     w/o Airrail           153.6
                                                                                       Retail                             Retail

                                                       Segment                                                                         Segment
                                            *) including special - /one off effects

                                  Fraport London Roadshow March 2009




                              Slide 22




                                  Ground Handling
                                  Stable Development in FY 2008
Preliminary Figures FY 2008




                                             Revenue                                                     EBITDA                                   EBIT
                                                                                                  6.0% Margin 8.1%                      2.0% Margin 3.0%
                                                   +3.6%



                                                                                                           +39.0%
                                      620.5                      642.7
                                                                                                                                                  +50.8

                                                                                                                       52.0
                                                                                                 37.4                                                         19.0
                                                                                                                                       12.6
                                   FY 2007                     FY 2008                          FY 2007               FY 2008         FY 2007             FY 2008

                                 • Positive effect from                                     • Positive revenue impact               • Increase in EBITDA
                                   implementation of                                        • Burden of € 18.3 mil. due to          • Negatively effected by
                                   automized baggage system                                   partial retirement provisions           higher D&A due to
                                 • Higher income from new                                     in 2007                                 depreciation of new
                                   subsidiary ‘FraCareS’                                    • Higher staff costs from                 Ground Handling
                                                                                              ‘FraCareS’                              equipment
                                                                                            • Additional € 16.0 mil. burden
                                                                                              on permanent staff costs
                                                                                              due to pay-rate agreement


                                  Fraport London Roadshow March 2009
                                Slide 23




                                       External Activities*)
                                       Solid Development due to Consolidation of Lima
Preliminary Figures FY 2008




                                                      Revenue                                                    EBITDA                                               EBIT
                                                                                                         13.1% Margin 17.1%                                   6.2% Margin n.a
                                            538.4          -39.3%
                                                                                                        16.8% Margin adj. 17.1%
                                            248.1                                                                                                                                        Adjusted by
                                                           +12.6%                                                  -20.7%                                                                   Hahn
                              ICTS                                                       ICTS effect                                                                                     depreciation
                              effect                                                     & Antalya        70.5
                                                                           327.0         provision                             55.9
                                           290.3                                                          21.6                                                        <-100%
                                                                                                          48.9     +14.3%
                                                                                                                                                              33.4                20.7
                                                                                                                                                                                            -2.2
                                         FY 2007                        FY 2008                         FY 2007             FY 2008                        FY 2007              FY 2008

                                       • Deconsol. ICTS April 1, 2008,                                 • ICTS effect on segment-                           • Depreciation Hahn of
                                         segment revenue: €-248.1 mil.                                   EBITDA: € 8.0 mil.                                  € 22.9 mil.
                                       • Full consol. Lima Aug., 1                                     • ICTS sale shows dilution of                       • Impact from EBITDA
                                         2007, revenue: + € 53.6 mil.                                    EBITDA margin                                       decrease 2008 due to
                                       • Only proportionate                                            • Positive effect in 2007                             positive EBITDA-
                                         consolidation of Antalya                                        (release Antalya provision in                       effects in 2007
                                         revenue: € -25,3 mil.                                           € 13.6 mil.)
                                         (new consol.: 34%;                                            • Lima: +€ 15.1 mil.
                                         old consol.: 100%)                                                                                                          Reported

                                                                                                                                                                     Adjusted
                                        *) including special - /one off effects

                                       Fraport London Roadshow March 2009




                                Slide 24




                                       External Activities
                                       Business Development in Majority Holdings
Preliminary Figures FY 2008




                                       Figures before consolidation

                                       Antalya /
                                       Proportionate consolidation, ´34 % Fraport share *)
                                       € mil.       FY 2007 FY 2008          Δ%     • Strong traffic increase
                                       Revenue          64.8       79.3     22.4    • First full year accounting of new concession incl.
                                                                                      domestic terminal operated by Fraport
                                       EBITDA           26.1       57.9    >100
                                                                                    • Change in consolidation due to new concession
                                       EBIT              1.7       22.3    >100       as of Sept. 2007, new consolidation 34 %
                                                                                    • 3rd Terminal will join concession in Sept 2009


                                        Lima /
                                        Full consolidation, 70.01 % Fraport share                                       • First time full consolidation for full year
                                        € mil.                           FY 2007          FY 2008            Δ%         • Strong positive traffic development
                                        Revenue                                   88.5         93.2          5.3        • Negative US-$ impact in Revenue and EBITDA
                                        EBITDA                                    23.2         24.3          4.7        • Sale of 29.99% shares effective as of June 1,
                                                                                                                          2008
                                        EBIT                                      16.3         18.2         11.7
                                       *) Until September 13, 2007 expired concession with 100 % equity share (Terminal 1 only);
                                           since September 14, 2007 new concession incl. Domestic Terminal with 51 % voting rights and 34 % equity share



                                       Fraport London Roadshow March 2009
                               Slide 25




                                   External Activities
                                   Business Development in Majority Holdings
Preliminary Figures FY 2008




                                    Figures before consolidation

                                     Twin Star /
                                     Full consolidation, 60 % Fraport share
                                     € mil.                  FY 2007       FY 2008        Δ%        • Traffic slightly under previous year level
                                     Revenue                       41.3       40.6       -1.7       • Positive EBITDA development due to good
                                                                                                      cost management and increasing Retail
                                     EBITDA                        12.9       13.9        7.8
                                                                                                      income
                                     EBIT                          10.1       10.0       -1.0       • Terminal construction on track

                                     Frankfurt Hahn /
                                     Full consolidation, 65 % Fraport share
                                     € mil.         FY 2007 FY 2008        Δ%                       • Despite decrease in passenger numbers
                                     Revenue                       41.3       45.4        9.9         revenue up due to higher cargo volume
                                                                                                      (+10.9 %)
                                     EBITDA                          0.6        0.9     50.0
                                                                                                    • EBITDA only slightly positive due to pay-
                                     EBIT                         -10.0       -10.5          -        rate agreement
                                     Transfer of                  -15.8       -18.1          -      • EBIT constantly negative
                                     losses
                                                                         Sold!!
                                                                    as of 01.01.2009
                                    Fraport London Roadshow March 2009




                               Slide 26




                                   Fraport Group
                                   Net Financial Debt & Gearing ratio
Preliminary Figures FY 2008




                                                                                 6,494.1
                               € mil.                                                                           • Issuance of promissory note
                                                 5,704.7
                                               1,310.0                                                            (Schuldscheindarlehen) amounting
                                                                                                 Financial        to € 720 mil. in Q2 2008
                                                                                       2,240.8 liabilities
                                                          1,198.4                                               • Gearing increased due to financing
                                                                                                                  activities
                                                                                                                • Gearing will be about 140% at the
                                                                            5,110.5                               peak of the expansion cycle
                                  Other                                                1,743.3 Other
                                         4,787.5          2,013.0
                                  Assets                                                         liabilities
                                                                                                                • Net Debt:
                                                                                                                    Financial liabilities (Short-term & long-term)
                                                            138.3                       165.8                     - Cash & Cash equivalents incl. short-term
                                                                                                                    realizable financial Assets:
                                                                                       2,344.2 Shareholders’        € 2,240.8 mil. - € 1,383.6 mil. = € 857.2 mil.
                                                                                                 Equity less
                                                         2,355.0                        36.6% minority          • Gearing ratio:
                                                                            1,383.6.             interests &       Net Debt / Shareholders’ Equity (less
                              Cash & Cash             11.9%                                      proposed          minority interest & proposed dividend)
                              equivalents
                                              917.2                                              dividend          € 857.2 mil. / € 2,344.2 mil. = 36.6%
                              incl. short-
                              term realizable    FY 2007                      FY 2008
                              financial                 Gearing
                              Assets
                                                        Minority interests & proposed dividend

                                    Fraport London Roadshow March 2009
                                Slide 27




                                       Fraport Group: Most Part of Need for Debt
                                       secured already - under good Conditions
Preliminary Figures FY 2008




                              € mil.                                                                                                              Application                                                                       Source
                                           Successful Placement of                                                                                 of funds                                                                         of funds
                                                                                                                                                                                                                                                   Debt of Subsidiaries, ~ € 400 Mio.*)
                                   720
                                           “Schuldscheindarlehen”
                                            • Two tranches:
                                                 - 7 years, 65 basis points                                                                                                                                                                    € 2,240.8 mil.
                                                   above six-month-                                                                                                                                                                            Financial Debt as of
                                                   EURIBOR                                                                                                                                                                                     Dec 31, 2008
                                                 - 9 years, 72 basis points                                                            FRA                                                                                            720 „Schuldscheindarlehen“
                                                   above six-month-                                                                    North:




                                                                                                                                                           Total Investment 2007 – 2015: € 7 bn.
                                                                                                                                                                                                     70%
                                                   EURIBOR                                                                             € 3 bn.
                                                                                                                                                                                                   secured                                     Credit commitment:
                                                                                                                                                                                                   already                             980 EIB + LTH, inflow 2009
                                           Credit Commitment of 2
                                   980 Infrastructures Banks, EIB and
                                                                                                                                                                                                                                    ~1.200 Debt still to finance
                                           LTH: € 980 mil.
                                            • Payments in 4 tranches
                                            • Margin significantly below                                                                                                                                                             € mil.




                                                                                                                                                                                                           Op. Cash Flow: € 3 bn.
                                              average of market
                                            • Average maturity: ~ 8 years     Expansion:
                                            • Closing: Dec 19, 2008           € 4 bn.
                                            • First Tranche: January 15, 2009                                                                                                                                                                               *) most part:
                                                                                                                                                                                                                                                            ~€ 123 Mio. Hahn
                                                                                                                                                                                                                                                            ~€ 22 Mio. Fraport Immo
                                                                                                                                                                                                                                                            ~€ 107 Mio. LAP
                                                                                                                                                                                                                                                            ~€ 155 Mio. AYT

                                       Fraport London Roadshow March 2009




                                Slide 28




                                       Fraport Financial Liabilities: Excellent Conditions
                                       Maturity Profile mid- and longterm, as of Dec 31, 2008
Preliminary Figures FY 2008




                                € mil.

                                                                                                                                                   Fraport debt conditions on average
                              3,000
                                3000

                                                                                                                                                      • ~ 4% interest rate
                              2,500
                                2500
                                                                                                                                                      • ~ 6 years maturity
                                                             Financial debt as of Dec 31, 2008 *)




                              2,000
                                2000



                              1,500
                                1500                                                                Credit Commitment (EIB+LTH), 980 mil. €
                                                                                                    promissory note “Schuldscheindarlehen” of € 720 mil.

                                1000
                              1,000                                                                 Other financial liabilities
                                                                                                    Cash & Cash equivalents
                                                                                                                                                                                                                                       552.7
                                                                                                                                                                                          491.7    465.5
                               500
                                500                                                                                                                                                                        375.1
                                                                                                                                     147.7       179.2                                                                                            178.7
                                                                     88.1                                    48.3                                                                                                                                             64.7
                                                                                                    49.0                  22.8
                                  0
                                  0
                                         2007      2008      2009                                   2010
                                                                                                    2010     2011
                                                                                                              2011        2012
                                                                                                                          2012        2013
                                                                                                                                       2013         2014
                                                                                                                                                    2014         2015         2016
                                                                                                                                                                              2016         2017
                                                                                                                                                                                            2017        2018
                                                                                                                                                                                                         2018      2019
                                                                                                                                                                                                                   2019      2020++
                                                                                                                                                                                                                              2020++
                                                                                                             *) includes short-term liabilities of € mil. 434.3 as well as financial liabilities of Flughafen Frankfurt-Hahn GmbH
                                                                                                             of € 123.3 mil. Hahn deconsolidated as of Feb. 28, 2009
                                       Fraport London Roadshow March 2009
                                       Thank you for your Attention!
                                      Publication of online Version of
                                            our Annual Report:
                                              March 26, 2009




                                                                       www.meet-ir.com




                              Slide 30
Preliminary Figures FY 2008




                                         Back up




                                  Fraport London Roadshow March 2009
                              Slide 31




                                  Quarterly Segment Results
                                € million                                                        2007                                                                         2008
Preliminary Figures FY 2008




                                                                      Q1       Q2                Q3           Q4            FY                   Q1                 Q2                 Q3                 Q4            FY
                                Aviation
                                Revenue                                159.6    179.8              190.4           168.9       698.7                 161.7              181.5              190.3           164.9         698.4
                                Staff costs                             61.4     62.9               59.5            72.6       256.4                  63.0               67.1               64.1            65.4         259.6
                                EBITDA                                  28.5     40.7               57.6            12.8       139.6                  24.5               38.5               49.2            12.7         124.9
                                Depreciation and amortization           16.8     17.6               20.3            40.1        94.8                  15.4               17.3               15.7            18.5          66.9
                                EBIT                                    11.7     23.1               37.3           -27.3        44.8                   9.1               21.2               33.5            -5.8          58.0

                                Retail & Properties
                                Revenue                                155.3    101.1               99.4           115.6       471.4                 102.8              112.8              105.2           112.7         433.5
                                Staff costs                             40.1     41.4               38.6            50.6       170.7                  38.7               37.9               37.4            39.2         153.2
                                EBITDA                                  82.5     91.4               87.1            72.0       333.0                  86.5              101.9               99.4            80.1         367.9
                                Depreciation and amortization           20.9     22.4               23.0            22.1        88.4                  20.2               20.5               17.5            23.8          82.0
                                EBIT                                    61.6     69.0               64.1            49.9       244.6                  66.3               81.4               81.9            56.3         285.9


                                Ground Handling
                                Revenue                                145.7    156.0              163.7           155.1       620.5                 150.5              160.5              172.7                159      642.7
                                Staff costs                             86.2     92.9               87.1           104.4       370.6                  96.1               95.3               91.5                95.8     378.7
                                EBITDA                                   7.7     12.0               23.0            -5.3        37.4                   3.1               17.1               25.6                 6.2      52.0
                                Depreciation and amortization            5.5      5.8                6.7             6.8        24.8                   7.2                7.5                9.8                 8.5      33.0
                                EBIT                                     2.2      6.2               16.3           -12.1        12.6                  -4.1                9.6               15.8                -2.3      19.0

                                External Activities
                                Revenue                                100.6    126.3              176.7           134.8       538.4                 113.2                  61.5                87.1            65.2     327.0
                                Staff costs                             75.8     88.8               93.5            87.5       345.6                  77.6                  19.4                18.3            18.8     134.1
                                EBITDA                                  -4.6     14.8               49.6            10.7        70.5                   1.3                  12.5                32.9             9.2      55.9
                                Depreciation and amortization            7.8      7.4                9.9            12.0        37.1                   9.1                   8.5                 8.1            32.4      58.1
                                EBIT                                   -12.4      7.4               39.7            -1.3        33.4                  -7.8                   4.0                24.8           -23.2      -2.2

                                Group

                                Revenue                                561.2    563.2              630.2           574.4    2,329.0                  528.2              516.3              555.3           501.8        2,101.6
                                Staff costs                            263.5    286.0              278.7           315.1    1,143.3                  275.4              219.7              211.3           219.2          925.6
                                EBITDA                                 114.1    158.9              217.3            90.2      580.5                  115.4              170.0              207.1           108.2          600.7
                                Depreciation and amortization           51.0     53.2               59.9            81.0      245.1                   51.9               53.8               51.1            83.2          240.0
                                EBIT                                    63.1    105.7              157.4             9.2      335.4                   63.5              116.2              156.0             25           360.7



                                   Fraport London Roadshow March 2009




                              Slide 32




                                  Profit & Loss Statement & Cash Flow Statement
                                                                                    2007                   2008                                                                                                 2007                2008
Preliminary Figures FY 2008




                                                                                                                             Profit attributable to equity holders of Fraport AG                               208.7               173.0
                                                                                                                             Profit attributable to minority interests                                           5.0                 7.2
                                Revenue                                             2,329.0                 2,101.6          Adjustments for:
                                                                                                                                  Taxes on income                                                               83.9                93.1
                                Change in work-in-process                                  0.5                    0.4             Depreciation                                                                 245.1               240.0
                                                                                                                                  Interest results                                                              46.5                96.6
                                Other internal work capitalized                        24.6                   33.8                Income from investments                                                       -5.3                -0.1
                                                                                                                                  Gains/losses from disposal of non-current assets                              11.4                35.1
                                Other operating income                                 71.7                   66.1                Other                                                                          8.1                -8.2
                                                                                                                             Changes in investments accounted for using the equity method                       -2.5                15.1
                                Total revenue                                       2,425.8                 2,201.9          Changes in inventories                                                             -5.7                -6.8
                                                                                                                             Changes in receivables and other financial assets                                  36.8                20.1
                                Cost of materials                                    -461.4                  -471.1          Changes in provisions                                                             -12.2               -15.5
                                                                                                                             Changes in liabilities                                                             38.1               -45.9
                                Personnel expenses                                  -1,143.3                 -925.6               (w/o financial liabilities and provisions)
                                                                                                                             Changes in/reclassification of assets/liabilities                                  -33.8                   -
                                Other operating expenses                             -240.6                  -204.5          held for sale
                                                                                                                             Operational activities                                                            624.1               603.7
                                EBITDA                                                580.5                  600.7           Financial activities
                                                                                                                             Interest paid                                                                      -63.5               -91.7
                                Depreciation and amortization                        -245.1                  -240.0          Interest received                                                                   30.2                47.7
                                                                                                                             Dividends received                                                                   5.3                 0.1
                                EBIT / Operating profit                               335.4                  360.7           Taxes on income paid                                                              -117.5               -91.8
                                                                                                                           Cash flow from operating activities                                                 478.6               468.0
                                Interest income                                        30.2                   49.2
                                                                                                                             Capital expenditures for other intangible assets                                    -8.0                -6.2
                                                                                                                             Investments in airport operator projects                                          -134.3               -90.6
                                Interest expenses                                      -76.7                 -145.8
                                                                                                                             Capital expenditures for property, plant and equipment                            -583.8              -741.8
                                                                                                                             Capital expenditures for investments accounted for using the equity method             -               -45.6
                                Share of results from investments accounted                                                  Investment property                                                                 -1.1                -0.1
                                for using the equity method                                2.5                -15.1          Other financial investments (long term)                                                -               -95.7
                                                                                                                             Other financial investments (short term)                                               -               -80.1
                                Income from investments                                    5.3                    0.1        Advanced payments in future investments                                                -               -62.6
                                                                                                                             Acquisition of consolidated companies                                              -16.6                   -
                                Other financial results                                    0.9                24.2           Disposal of consolidated companies                                                     -                61.7
                                                                                                                             Proceeds from disposals of non-current assets                                       74.4                 2.7
                                Financial result                                       -37.8                  -87.4          Proceeds from disposals of other financial assets                                   28.9                87.1
                                                                                                                           Cash flow used in investing activities                                          -640.5                 -971.2
                                EBT / Result from ordinary operations                 297.6                  273.3           Dividends paid to shareholders of Fraport AG                                      -105.1              -105.2
                                                                                                                             Dividends paid to minority shareholders                                             -1.3                -1.1
                                Taxes on income                                        -83.9                  -93.1
                                                                                                                             Capital increase                                                                    11.8                13.0
                                                                                                                             Cash inflow from long term loans                                                   234.6               922.7
                                Group profit                                          213.7                  180.2           Repayment of long term loans                                                       -19.6              -146.7
                                                                                                                             Changes in short term liabilities                                                   59.5               274.9
                                Profit attributable to minority interests                  5.0                    7.2      Cash flow from financing activities                                                 179.9               957.6
                                Profit attributable to equity holders of                                                     Consolidation effects on cash and cash equivalents                                  7.8                 38.4
                                                                                                                             Restricted cash                                                                   -28.4                -34.2
                                Fraport AG                                            208.7                  173.0         Change in cash and cash equivalents                                                  -2.6                458.6
                                                                                                                           Cash and cash equivalents on January 1                                              617.6                622.9
                                Earnings per €10-share in Euro
                                                                                                                             Foreign currency translation effect on cash and cash equivalents                   -7.0                 10.7
                                basic                                                  2.28                   1.89         Restricted cash previous year                                                        14.9                 28.4
                                diluted                                                2.26                   1.87         Cash and cash equivalents on Dec. 31                                                622.9              1,120.6


                                   Fraport London Roadshow March 2009
                              Slide 33




                                   Balance Sheet
                               Assets                                         12/31/2007     12/31/2008   Liabilities and equity                              12/31/2007     12/31/2008
Preliminary Figures FY 2008




                               € million                                                                  € million
                               Non-current assets                                                         Shareholders' equity
                               Goodwill                                             22.7           22.7   Issued capital                                           914.6          916.1
                               Other intangible assets                              43.9           33.3   Capital reserves                                         565.2          573.1
                               Investments in airport operator projects            570.3          597.6   Revenue reserves                                         875.2          855.0
                               Property, plant and equipment                     3,569.3        3,886.3   Group retained earnings                                  105.3          105.6
                                                                                                          Issued capital and reserve attributable to equity
                               Investment property                                    10.1          9.0   holders of Fraport AG                                  2,460.3        2,449.8
                               Investments accounted for using the equity
                               method                                               37.1           72.4   Minority interests, presented within equity               33.0           60.2
                               Other financial assets                              252.2          205.4                                                          2,493.3        2,510.0
                               Other receivables and other assets                   58.5           42.4   Non-current liabilities
                               Income tax receivable                                33.5           26.6   Financial liabilities                                    830.6        1,685.3
                               Deferred tax assets                                   7.2           30.4   Trade accounts payable                                   365.6          192.9
                                                                                 4,604.8        4,926.1   Other liabilities                                        451.7          514.8
                               Current assets                                                             Deferred tax liabilities                                  89.6           97.4
                               Inventories                                          38.6           45.4   Provisions for pensions and similar obligations           19.4           19.0
                               Trade accounts receivable                           154.6          154.9   Provisions for income taxes                              163.0          170.0
                               Other receivables and other assets                   76.6          205.1   Other provisions and accruals                            136.2          101.0
                               Income tax receivable                                13.2            7.8                                                          2,056.1        2,780.4
                               Cash and cash equivalents                           651.3        1,154.8   Current liabilities
                                                                                   934.3        1,568.0   Financial liabilities                                    367.8          555.5
                               Non-current assets held for sale                    165.6              0   Trade accounts payable                                   441.5          393.8
                                                                                 1,099.9        1,568.0   Other liabilities                                         75.7           63.6
                                                                                                          Provisions for income taxes                               14.2            1.9
                                                                                                          Other provisions and accruals                            185.3          188.9
                                                                                                                                                                 1,084.5        1,203.7
                                                                                                          Liabilities in connection with assets held for
                                                                                                          sale                                                      70.8            0.0
                                                                                                                                                                 1,155.3        1,203.7
                                                                                 5,704.7        6,494.1                                                          5,704.7        6,494.1

                                                                            Gearing                                   11.9 %       36.6%


                                    Fraport London Roadshow March 2009




                              Slide 34




                                   Special EBITDA Effects & Adjustments of Group
Preliminary Figures FY 2008




                                    FY 2007                                                                    FY 2008

                                    • 40.9 mil. € provisions for partial retirement & compensation             Retail & Properties:
                                      Q4 2007
                                                                                                               • Settlement with Deutsche Bahn Station & Service AG
                                                                                                                 of € 10.0 mil.
                                    Retail & Properties:

                                    • Finance Lease Airrail center Revenue &
                                      Non-staff costs of € 57.6 mil.
                                    • Extraordinary redemption Airrail loan of € 2.1 mil.
                                    • Release of Provisions: € 11.5 mil.

                                    External Activities:

                                    • Sale of ICTS:
                                      Revenue of: € 245.8 mil.
                                      EBITDA of: € 6.5 mil.
                                      D&A of:     € 2.0 mil.
                                                                                                                               2007                                   2008
                                    • Release of provision from our expired concession in                      EBITDA:                     580.5           EBITDA:              600.7
                                      Antalya €13.6 mil.                                                       - Retail & Properties        13.6           - Retail & Properties 10.0
                                                                                                               - External Activities        20.1
                                                                                                               +Provision for partial
                                                                                                               Retirement                    40.9
                                                                                                               EBITDA adjusted:             587.7          EBITDA adjusted:     590.7

                                    Fraport London Roadshow March 2009

				
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