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Fraport continues on growth path

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Staff Writer |
Europe   Free cash flow contracted to €82.2 million

Fraport closed the first nine months of fiscal 2018 ending September 30 with a significant 14.3 percent increase in group revenue to €2.55 billion.

Adjusting for revenue recognized in connection with expenses for expansion projects at Fraport’s Group companies worldwide according to the IFRIC 12 accounting standard revenue grew by 7.2 percent to €2.36 billion.

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.

With almost 53 million passengers served (up 8.4 percent), FRA achieved a new record 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) – both figures adjusted by IFRIC 12.

The operating result or Group EBITDA (earnings before interest, taxes, depreciation and amortization) improved correspondingly by 9.0 percent to €880.4 million. Group EBIT rose by 7.4 percent to €580.3 million.

The group result (net profit) jumped by 10.4 percent year-on-year to €377.8 million. Free cash flow contracted from €388.0 million in the previous year to €82.2 million in the reporting period. Factors contributing to this included higher capital expenditure at FRA and the international Group companies, as well as changes in net current assets.

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