Fraport expects 'pivotal' 2011; Indian airport operators shares slip

Germany’s Fraport reported revenue rose 9.2% in 2010, as passenger numbers at its airport rose 8.9% and cargo traffic rose 22.6%. Traffic at its key Frankfurt Airport rose 4.1% and cargo was up 20.2%. The airport company's EBTIDA was up a 25% to EUR711 million, and net profit up 78% to EUR271.5 million. The company forecast a mild decline in 2011 profits, with passenger traffic growth of 4-7%. Shares in Fraport were down 0.9% on Friday, as most airport companies traded lower.

Fraport FY2011 forecast:

  • Revenue: EUR2300 million;
  • EBITDA: +10% to +15%;
  • Net profit: Minor decline year-on-year;
  • Dividend: EUR1.25 per share;
  • Passenger numbers: +4% to +7%.

Shares in Indian airport operators GVK Infrastructure and GMR Infrastructure fell on Friday, losing 3.6% and 2.4% respectively. Trading more strongly was Turkish airports operator TAV, which has seen its shares recover more than 10% over the past five days.

Selected ABD daily share price movements (% change): 11-Mar-2011