Fraport Group posts strong revenue growth in the first three months of 2018
May 09, 2018: The Fraport Group saw revenue increase by 15.0 percent to EUR681.7 million during the first quarter of the year.
The factors that contributed to the revenue growth were strong passenger growth at Frankfurt Airport (FRA) and most of the airports in Fraport's international portfolio. Major revenue contributions came from Fraport Greece (EUR44.3 million) and Fraport Brasil (EUR30.8 million) - following the startup of Fraport's operations at Fortaleza (FOR) and Porto Alegre (POA) on January 2.
At FRA, 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 realizing Pier G earlier than scheduled. At the same time, we are continuing to invest in the infrastructure and processes of our two existing terminals."
Informing of Group EBITDA, the airport operator said, “Group EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 27.2 percent to EUR174.7 million, with the Group companies in Fortaleza and Porto Alegre contributing EUR9.2 million.”
“Despite higher depreciation and amortization in the amount of EUR10.2 million - mainly in connection with Fraport Greece – Group EBIT reached EUR82.3 million (up 49.4 percent).”
The Group net profit rose by 4.3 percent to EUR19.6 million, stimulated by slightly lower taxes on income.
Frankfurt Airport as well most of the Group’s international airports reported significant and partly double-digit growth rates in terms of traffic. 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 (down 2.1 percent), due mainly to the runway closure at high-traffic Thessaloniki Airport (SKG) for renovation and extension works.