Fraport earns more in the summer than ever before
The return of the desire to travel after the corona crisis has given Frankfurt Airport operator Fraport the most lucrative quarter in its history this summer. In the third quarter, operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose by around 14 percent year-on-year to 478 million euros, as the MDax-listed company announced in Frankfurt on Tuesday. Fraport thus not only performed better than expected by analysts, but also exceeded the result from the summer of 2019 before the coronavirus crisis. At around 236 million euros, the bottom line for shareholders was more than twice as much profit as in the third quarter of 2022.
For the current year, Fraport CEO Stefan Schulte continues to expect around 60 to 63.5 million passengers in Frankfurt - and thus around 85 to 90 percent of the level from the record year 2019. In the first nine months, the figure was 82 percent and in October around 88 percent. By contrast, passenger volumes at Fraport-managed international airports already exceeded the pre-coronavirus level in the third quarter. The 14 Greek regional airports and Antalya in Turkey stood out in particular.
The increase in air traffic due to post-pandemic travel demand significantly contributed to Fraport's record-breaking EBITDA of 478 million euros in the third quarter, surpassing both the 2019 earnings and analyst expectations. As a result, quarterly figures show a 14% year-on-year rise in operating earnings for Fraport.
Source: www.dpa.com
