CORRECTION – Fraport AG: Fraport Interim Report – First Half 2012: Fraport Increases Revenue and Operating Result in the First Half of the Year
FRANKFURT, Germany, August 8, 2012 /PRNewswire/ –
In the news release, “Fraport Interim Report – First Half 2012: Fraport Increases Revenue and Operating Result in the First Half of the Year” issued on 8 Aug 2012 05:00 GMT, by Fraport AG over PR Newswire, we are advised by a representative of the company that there are text translation corrections in the first two paragraphs.
Complete, corrected release follows:
During the first half of 2012, the Fraport Group’s revenue increased by 2.5 percent to
about EUR1.154 billion. Operating result (EBITDA: earnings before interest, taxes,
depreciation and amortization) rose by two percent to EUR365.7 million. Higher
depreciations and amortization as well as a decline in the financial result – mainly due
to the inauguration of Frankfurt Airport’s new Runway Northwest and the continuing high
investments for the new Pier A-Plus at Terminal 1 – led to a 17.4 percent decline in the
Group result to EUR86.9 million.
Future-oriented capacity expansion of Fraport’s home base airport resulted in an
increasing number of passengers at Frankfurt Airport (FRA): up 3.4 percent to 27.4 million
in the first half of 2012. Despite strikes in February and March – which led to a
cancellation of a total of 2,150 flights – FRA still achieved a new passenger traffic
record for the first six months of the year. Fraport’s foreign airports contributed
positively to the Group’s performance. Group-wide, the fully and partially consolidated
airports (Frankfurt, Antalya, Lima, Burgas, Varna) served 44.2 million passengers in the
first half of the year, up 2.8 percent.
In contrast to passenger traffic, Fraport’s cargo volume dropped. The weakness of the
global economy and the European debt-crisis affected the movement of goods at the Fraport
home base — where airfreight tonnage fell (minus 9.9 percent) as well as Group-wide
(minus 9.0 percent). The night-time flight curfew, implemented at the end of October 2011,
also strengthened the decline.
Looking at Fraport’s individual business segments, revenue for the Aviation segment
grew by EUR29.9 million – benefitting from current growth in passenger traffic as well as
from the increase in airport charges at Frankfurt Airport. However, the Retail and Real
Estate segment dropped by EUR4.2 million due to lower revenue from sales of property sites
at the Monchhof Logistics Park. Revenue for the Ground Handling segment declined by EUR8.2
million, primarily because of the continued drop in cargo business as well as lower MTOWs
(accumulated Maximum Takeoff Weight). The External Activities and Services segment, which
essentially comprises activities of Group companies outside of FRA, posted a EUR10.5
million gain in revenue – mainly because of the positive traffic development at Lima
Fraport AG’s executive board chairman Dr. Stefan Schulte reconfirmed the Group’s
forecast for the current year: “During this difficult period in the air transportation
industry our figures have been developing as planned and we are sticking to our goals for
2012.” At the company’s annual general meeting in May of this year, Schulte stated that
passenger growth at Frankfurt Airport is forecast to be less than four percent for 2012.
Revenue is expected to exceed EUR2.5 billion and EBITDA. is expected to climb by at least
five percent. The Group result will remain at about the same level as in 2011. Schulte
also expressed optimism about infrastructure development: “Frankfurt Airport’s new runway
creates the necessary capacity for the expected long-term growth in global air traffic.
The Pier A-Plus, which will be inaugurated on schedule on October 10, will represent a
quantum leap in quality and service for our passengers at Frankfurt Airport.” FRA’s total
terminal capacity will expand with the new Pier A-Plus, which will offer docking positions
for seven wide-body jets and serve up to six million passengers per year.
Fraport’s interim report for the first half of 2012 can be downloaded from the
Investor Relations section of the http://www.fraport.com Web site (from 7 a.m. CET on
Wednesday, August 8, 2012).
For Further Information, Please Contact:
Fraport AG Frankfurt Airport Services Worldwide
Robert A. Payne, B.A.A. – International Spokesman and Head of International Press/PR &
External Activities Team, Press Office (UKM-PS), Corporate Communications, 60547
Frankfurt, Germany; Tel.: +49(0)69-690-78547; E-mail: email@example.com; Internet:
SOURCE Fraport AG