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 reported a 9.2% increase in revenue in 2010, driven by a rise in passenger numbers and cargo traffic.
- Frankfurt Airport, a key airport for Fraport, experienced a 4.1% growth in traffic and a 20.2% increase in cargo.
- Fraport's EBITDA increased by 25% to EUR711 million, and net profit rose by 78% to EUR271.5 million.
- Fraport forecasts a mild decline in profits for 2011, with passenger traffic growth expected to be between 4% and 7%.
- Shares in Fraport declined by 0.9% on Friday, while shares in Indian airport operators GVK Infrastructure and GMR Infrastructure fell by 3.6% and 2.4% respectively.
- Turkish airports operator TAV experienced a strong recovery in its shares, with a more than 10% increase over the past five days.
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
