9-Mar-2012 4:04 PM

Fraport reduces pax growth guidance for Frankfurt Airport, declares dividend for 2011

Germany’s Fraport reduced (08-Mar-2012) its guidance for passenger growth at Frankfurt International Airport to under 4% in 2012 following a series of strike actions in Feb-2012 in connection with the wage conflict between airport and the GdF union.  The company also warned that the "guidance might be influenced negatively by further strike action". Fraport had previously expected passenger numbers at Frankfurt to grow at the lower end of a 4-7% range. Frankfurt International Airport reported a new annual passenger record in 2011, with a year-on-year growth rate of 6.5%. Fraport AG executive board chairman Dr. Stefan Schulte also said EBITDA is forecast to increase by at least 5% in 2012. In 2011, EBITDA increased by approximately 13% to EUR802.3 million. Due to the “strong” financial results in 2011, Fraport AG’s executive and supervisory boards will recommend to the AGM on 11-May-2012 that the dividend be maintained at EUR1.25 per share. [more - original PR]

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