FRAPORT GROUP REPORTS 15% RISE IN REVENUES DURING Q1

The Fraport Group today announced that its revenues soared by 15% to Ђ681.7 million in the first quarter of 2018.

It notes that the improved performance follows "strong passenger growth" at Frankfurt Airport and other gateways across its global airport network.

According to Fraport, major revenue contributions came from Fraport Greece (Ђ44.3 million) and Fraport Brasil (Ђ30.8 million), the latter following the start of Fraport's concession at Fortaleza (FOR) and Porto Alegre (POA) on January 2. 

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At Frankfurt Airport, higher income from airport charges, security services and parking contributed to the Group's revenue growth.

Fraport AG's executive board chairman, Dr Stefan Schulte, said: "The upward trend from the previous year has continued unabated, both at our international group companies and at Frankfurt Airport. 

"At our Frankfurt home base, we are working at full speed to meet future growth which is being spurred mainly by the positive development of network airlines. 

"Therefore, we are pushing forward with the construction of our new Terminal 3 and will be realising Pier G earlier than scheduled. 

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"At the same time, we are continuing to invest in the infrastructure and processes of our two existing terminals."

Group EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 27.2% to Ђ174.7 million, with the group companies in Fortaleza and Porto Alegre contributing Ђ9.2 million. 

Despite higher depreciation and amortisation in the amount of Ђ10.2 million – mainly in connection with Fraport Greece – Group EBIT reached Ђ82.3 million (+49.4 %). 

The negative financial result continued to decline noticeably, from minus Ђ29.2 million to minus Ђ56.1 million. 

It says that this was largely attributable to higher interest expenses both at Fraport Greece (+Ђ18.2 million) and the group companies in Fortaleza and Porto Alegre (+Ђ3.1 million). 

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Correspondingly, group EBT expanded only slightly by 1.2% to Ђ26.2 million. 

The Group result (net profit) rose by 4.3% to Ђ19.6 million, stimulated by slightly lower taxes on income.

Jumping by 10% to 14.4 million passengers, traffic at Frankfurt Airport continued to gain momentum during the first quarter of 2018. 

Most of the Fraport Group's international airports also reported significant and partly double-digit growth rates. 

In particular, Antalya Airport (AYT) in Turkey continued to rebound strongly compared to the first quarter of 2017. 

Only the Greek regional airports registered a slight decline in accumulated passenger numbers (–2.1%), due mainly to the runway closure at high-traffic Thessaloniki Airport (SKG) for renovation and extension works.

Following completion of the first quarter, Fraport AG's executive board is maintaining its forecasts for the group's asset, financial, and earnings position for the entire 2018 business year.