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Frankfurt Airport pax to gain just 1-2% in 2010, Fraport dips following 2Q2010 results

12-May-2010

In Europe, shares in Germany’s Fraport dipped 0.8% yesterday, as the airport operator stated it expects passenger traffic at Frankfurt Airport to increase by 1-2% for FY2010, depite the negative affect of the volcanic ash shutdowns. Fraport Group EBITDA is projected to be at approximately EUR635 million for the year.

Fraport reported a 12.4% increase in EBITDA to EUR115.8 million for the three months ended 31-Mar-2010, as disclosed in its 2Q2010 financial report released yesterday. Aviation EBITDA was 6.3% higher at EUR13.5 million. During the period, revenue increase 4.3% to EUR476.1 million overall, while aviation revenue closed just 0.7% higher at EUR155.9 million.

Passenger traffic and cargo volumes rose at Frankfurt Airport in 2Q2010, up 3.9% and 31.5%, respectively, to 11.3 million passengers and 535,305 tonnes.

For Apr-2010, Frankfurt Airport was affected by the volcanic ash shutdowns, reporting a 16.9% drop in passenger numbers to 3.5 million, on a 16.0% reduction in aircraft movements. Cargo volumes, however, surged 21.2% year-on-year in the month to 169,463 tonnes.

Shares in other European airport operators were mixed yesterday – Zurich and Ferrovial were up (+1.2% and +0.4%, respectively), TAV Airports closed flat, Aeroporto di Venezia dipped (-1.1%) and Copenhagen led the way down (-4.0%).

The full financial and traffic report for Fraport is featured in today’s edition of Airport Business Daily. Subscribe today for the latest financial/traffic reports and strategic news updates from airports worldwide.

Selected airports daily share price movements (% change): 11-May-2010


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