Fraport shares marginally increase on first half earnings. World airport traffic slips 1.8% in 2009
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:
- Fraport reports a 5.5% increase in revenue for the first half of 2010, driven by growth in retail & real estate and ground handling segments.
- Despite the revenue growth, Fraport's net profit declined by 21.9% during the same period.
- Passenger numbers at Fraport increased by 7.1% in the first half of 2010, while cargo volume grew by 30.0%.
- Fraport forecasts a positive outlook for the second half of 2010, expecting revenue and EBITDA to increase in the aviation and ground handling segments.
- The Airports Council International (ACI) reports a 1.8% decline in global passenger numbers in 2009, with Europe experiencing the largest decrease at 5.4%.
- Cargo volume also declined globally by 7.9% in 2009, with Europe and North America being the most affected regions.
- 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:
- Frankfurt: +3% to +4%;
- EBITDA: EUR620 million to EUR680 million.
- Passenger traffic:
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;
- Africa: 150.6 million, -0.6%;
- Asia Pacific: 1.2 billion, +4.9%;
- Europe: 1.4 billion, -5.4%;
- Latin America: 368.7 million, +1.5%;
- Middle East: 183.5 million, +7.7%;
- North America: 1.5 billion, -5.2%.
- 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
