Fraport guarded about full year earnings, but some signs that merit optimism

The three months ending 30-Jun-09 saw another series of negative figures for Fraport as the recession bit. EBITDA fell by 14.2% and net profit by 33.5%. However, that is a slight improvement on the sixth month data. The largest fall was in aviation income EBITDA (-36.6%) and ground handling (-62.9%) The company will be glad to hear that Germany, along with France, is technically out of recession having recorded 0.3% growth in the quarter ending Jun-2009. But Fraport is a multinational company exposed to the performance of economies worldwide.

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