FRANKFURT, Germany, November 7, 2018 / PRNewswire / –
All airports from Fraport Group they show traffic growth – Group income and results increase more – Full-year forecast confirmed 2018
FRA / gk-rap – Fraport AG closed the first nine months of fiscal 2018 (ending on September 30) with a substantial increase of 14.3% in group income, up to 2,550 million euros. Recognized income adjustments in relation to expenditures for expansion projects in Fraport Group companies worldwide (according to accounting standards 12 IFRIC) indicate that revenues increased by 7.2% to reach 2,360 million euros.
At the airport's main base Frankfurt (FRA), extraordinary traffic has resulted in better benefits from airport fees and security services, in addition to increasing parking revenues. With nearly 53 million passengers serviced (up 8.4%), FRA has reached a new record in the first nine months of 2018. Guided by exceptional passenger growth, Fraport's international airport portfolio also contributes in a positive way to increase group income. In particular, the main contributions from revenues came from group companies located in Brazil (growth of 66.1 million euros) and Greece (growth of 49.8 million euros) – both adjusted figures by IFRIC 12.
Group operating results or EBITDA (earnings before interest, taxes, depreciation and amortization) increase simultaneously by 9% to reach 880.4 million euros. The group's EBIT figure increased by 7.4%, reaching 580.3 million euros. Group results (net income) increased 10.4% in form from year to year to reach 377.8 million euros. Free cash flow contracted, up from 388 million euros in the previous year to 82.2 million euros in the period shown. Factors contributing to this include higher capital expenditures in FRA and international group companies, in addition to changes in current net assets.
President of the executive board of Fraport AG, doctor Stefan SchulteHe explained: "In the first nine months of 2018, our group has continued with its growth path, in particular, the airports in our international portfolio have achieved outstanding and growing contributions to our positive performance. In Greece, Brazil, Five and other airports in the group will ensure that this growth trend continues in the future. "
Refer to the global flight center of the Airport group FrankfurtCEO Schulte said: "This year's extraordinary growth has been a challenge for the entire aviation industry, including our airport from the main base Frankfurt. All partners involved work hard to restore and improve the timeliness and reliability of air traffic. In Frankfurt, we have employed more personnel to achieve this goal. Finally, this measure has a negative impact on our financial performance. At the same time, we are achieving superior growth as we move forward in our infrastructure expansion – with ongoing construction work for Pier G and Terminal 3. "
The Fraport AG executive board confirms the estimates for the current business year 2018. Revenue, EBITDA and group results (net income) are expected to reach the top level estimated margin of the Fraport annual report 2017. Additional revenues obtained from the sale of Fraport shares at Flughafen Hannover-Langenhagen GmbH, Fraport expects to exceed this margin. Divestment will have a positive impact of around 77 million euros on the group results. Given the extraordinary passenger growth that is taking place at Frankfurt, the Fraport AG executive board revised the traffic forecast for FRA upwards when publishing mid-2018 interim reports, up to more than 69 million passengers for the full business year 2018.
General conditions of the four Fraport business segments:
Aviación: Revenues from the aviation business segment increased 5.9% to 763.5 million euros in the first nine months of 2018. Revenue growth at the airport Frankfurt that was mainly because the higher profits came from airport fees, reaching an increase in passenger traffic. The EBITDA rate for the segment increased 15% to 231.5 million euros, despite higher employee spending. The EBIT figure for the segment grew by 11.7%, reaching 127 million euros due to higher depreciation and amortization, after renewing a line of useful assets as part of this modernization.
Retail and real estate: With 367.6 million euros, revenue in the retail and real estate business segment fell 6.7% in form from year to year. The far smaller benefits of land sales than last year were the main reasons for the fall. In addition, lower profits in the retail business also have an impact on segment revenues in the first nine months. Net retail revenue per passenger fell 10.6% of its value from year to year € 2.96. On the other hand, the parking business generates higher income. The EBITDA for the segment increased by 0.6% to reach 290 million euros, while the EBIT segment fell 0.9% to 223.6 million euros.
Land management: In the first three quarters of 2018, revenues in the land management business segment increased by 5.4% to reach 508.8 million euros. This is mainly due to increased benefits from land services. Due to the tremendous traffic growth, employee expenses have increased significantly. Accordingly, the EBITDA for the segment fell by 13.9% to 32.8 million euros, while the EBIT figure for this segment contracted sharply from 7.9 million euros to 0.6 million euros. euro
International activities and services: Revenue in international activities and the service business segment grew 43.8% to reach 907.5 million euros in the first nine months of 2018. Adjusted according to IFRIC 12, this segment achieved 19% growth. , 2% of its revenue reached 724.5 million euros. The main contribution came mainly from group companies in Brazil located in Indonesia Fortaleza and Porto Alegre (growth of 66.1 million euros) and Greek Fraport (growth of 49.8 million euros). Despite an increase in personnel costs and material costs, the EBITDA figure for the segment grew 16.4% to reach 326.1 million euros. The EBIT segment increased by 19.1% to reach 229.1 million euros.
Temporary publications for the full third and 9 months of 2018 are available on the Fraport AG website.
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Phone: + 49-69-690-70553
E-mail: [email protected]
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