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Fraport shares marginally increase on first half earnings. World airport traffic slips 1.8% in 2009

6-Aug-2010

Fraport (+0.3%) shares marginally increased after posting a revenue increase of 5.5% in its financial/traffic highlights for the six months ended 30-Jun-2010:

  • Revenue: EUR1,015 million, +5.5% year-on-year;
    • Aviation: EUR324.5 million, -1.7%;
    • Retail & real estate: EUR186.0 million, +4.3%;
    • Ground handling: EUR319.2 million, +6.9%;
  • EBITDA: EUR304.6 million, +15.8%;
    • Aviation: EUR57.2 million, +11.5%;
    • Retail & real estate: EUR144.9 million, +3.0%;
    • Ground handling: EUR14.1 million, +95.8%;
  • Net profit: EUR52.0 million, -21.9%;
  • Total assets: EUR9,079 million, +2.4%;
  • Operating cash flow: EUR125.0 million, -21.2%;
  • Capital expenditure: EUR509.6 million, -28.1%;
  • Passenger numbers: 38.6 million, +7.1%;
  • Cargo volume: 1.2 million ton, +30.0%;
  • Aircraft movements: 349,893, +4.2%;
  • FY2010 forecast:
    • Passenger traffic:
    • EBITDA: EUR620 million to EUR680 million.

The German airport operator went to state “in view of business developments up to now and the positive forecast for the second half of 2010, Fraport AG now anticipates that segment revenue, EBITDA and EBIT will increase in the Aviation and Ground Handling segments. The Retail & Real Estate segment should also continue the positive development of the current fiscal year. Segment revenue as well as EBITDA are therefore expected to rise compared to fiscal year 2009. The segment EBIT should fall slightly below figures in 2009 due to continuing negative effects from depreciation and amortization.”

See related CAPA profile: Financial results

World airport traffic slips 1.8% in 2009

Airports Council International (ACI) released on Thursday (05-Aug-2010) its 2009 World Airport Traffic Report. According to ACI, passenger numbers worldwide fell 1.8% year-on-year to 4.8 billion in 2009. Details include:

  • Passenger numbers: 4.8 billion, -1.8% year-on-year;
  • Cargo volume: -7.9%;
    • Africa: -9.1%;
    • Asia Pacific: -4.3%;
    • Europe: -10.9%;
    • Latin America: -11.4%;
    • Middle East: +4.3%;
    • North America: -11.1%.

See related CAPA profile: Traffic and capacity

Other European airport operators that gained yesterday included Copenhagen (+2%) and Zurich (+1.3%). Meanwhile, Aeroporto di Firenze (-3%) and Aeroporto di Venezia (-0.8%) lost ground.

Selected airports daily share price movements (% change): 05-Aug-2010


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