Fraport reports 'solid' results in 2Q2016, downgrades traffic forecast but maintains financial

Fraport Group revenue down 2% - financial highlights:

• Three months ended 30-Jun-2016:
• • Revenue: EUR652.3 million, -2.1% year-on-year;
  • • Aviation: EUR231.7 million, -4.9%;
    • Retail and real estate: EUR127.2 million, +6.3%;
    • Ground handling: EUR162.5 million, -8.9%;
    • External activities and services: EUR130.9 million, +5.2%;
  • EBITDA: EUR232.8 million, +0.4%;
  • • Aviation: EUR66.0 million, -7.9%;
    • Retail and real estate: EUR102.1 million, +7.7%;
    • Ground handling: EUR15.8 million, +24.4%;
    • External activities and services: EUR48.9 million, -7.2%;
  • Net profit: EUR84.6 million, -8.4%;
• Six months ended 30-Jun-2016:
• • Revenue: EUR1225 million, -1.4%;
  • • Aviation: EUR431.7 million, -2.8%;
    • Retail and real estate: EUR239.9 million, +2.9%;
    • Ground handling: EUR308.9 million, -7.2%;
    • External activities and services: EUR244.3 million, +5.4%;
  • EBITDA: EUR378.4 million, -1.7%;
  • • Aviation: EUR95.7 million, -6.5%;
    • Retail and real estate: EUR182.3 million, -0.9%;
    • Ground handling: EUR17.7 million, +40.5%;
    • External activities and services: EUR82.7 million, -3.9%;
  • Net profit: EUR99.7 million, -3.2%;
  • Total assets: EUR8810 million;
  • Cash and cash equivalents: EUR423.7 million;
  • Total liabilities: EUR5316 million. [more - original PR]

Fraport Group: "Also taking into account the expected positive effects resulting from the sale of a partial stake in St. Petersburg, we are maintaining our outlook for the Group's asset, financial, and earnings position for the 2016 business year, despite the challenging environment," Stefan Schulte, Chairman. Source: Company statement, 04-Aug-2016.