Strong results for Fraport in the first nine months of 2018

posted on 8th November 2018 by Justin Burns
Strong results for Fraport in the first nine months of 2018

Fraport has reported it closed the first nine months of 2018 ending September 30 with a significant 14.3 per cent increase in revenue to €2.55 billion.

In the first three quarter of the year in the ground handling sector, revenue improved by 5.4 per cent to €508.8 million. This was mainly attributable to increased proceeds from ground services.

Due to strong traffic growth, personnel expenses rose significantly. Correspondingly, segment EBITDA (earnings before interest, taxes, depreciation and amortization) shrank by 13.9 per cent to €32.8 million, while segment EBIT markedly contracted by €7.9 million to €0.6 million.

At the Group’s Frankfurt Airport (FRA) home base, strong traffic led to higher proceeds from airport charges and security services, as well as increased parking revenue.

Nearly 53 million passengers were served (up 8.4 per cent) as FRA achieved a new record traffic high in the first nine months of 2018.

Buoyed by strong passenger growth, airports in Fraport’s international portfolio also contributed positively to the Group’s increased revenue. In particular, major revenue contributions came from the Group companies in Brazil (up €66.1 million) and Greece (up €49.8 million).

The operating result or Group EBITDA improved correspondingly by nine per cent to €880.4 million while Group net profit jumped 10.4 per cent year-on-year to €377.8 million.

Fraport’s executive board chairman, Dr. Stefan Schulte said: “During the first nine months of 2018, our Group has continued on its growth path. In particular, the airports in our international portfolio have made major and ever increasing contributions to our positive performance.

“Expansion projects launched in Greece, Brazil, Lima, and at other Group airports will ensure that this growth trend continues well into the future.”