Fraport Group Interim Release - First Quarter 2018: New Business Year Starts Off Successfully

Frankfurt (ots) -

Fraport's international business sees strong revenue growth -
Earnings increase significantly

The Fraport Group saw revenue and earnings figures increase
significantly during the first quarter of business year 2018 (ending
March 31). Supported by strong passenger growth at Frankfurt Airport
(FRA) and most of the airports in Fraport's international portfolio,
Group revenue advanced by 15.0 percent to EUR681.7 million. Major
revenue contributions came from Fraport Greece (EUR44.3 million) and
Fraport Brasil (EUR30.8 million) - following the startup of Fraport's
operations at Fortaleza (FOR) and Porto Alegre (POA) on January 2.
At FRA, higher income from airport charges, security services and
parking contributed to the Group's revenue growth.

Fraport AG's executive board chairman, Dr. Stefan Schulte, said:
"The upward trend from the previous year has continued unabated, both
at our international Group companies and at Frankfurt Airport. At
our Frankfurt home base, we are working at full speed to meet future
growth which is being spurred mainly by the positive development of
network airlines. Therefore, we are pushing forward with the
construction of our new Terminal 3 and will be realizing Pier G
earlier than scheduled. At the same time, we are continuing to
invest in the infrastructure and processes of our two existing
terminals."

Group EBITDA (earnings before interest, taxes, depreciation, and
amortization) increased by 27.2 percent to EUR174.7 million, with the
Group companies in Fortaleza and Porto Alegre contributing EUR9.2
million. Despite higher depreciation and amortization in the amount
of EUR10.2 million - mainly in connection with Fraport Greece - Group
EBIT reached EUR82.3 million (up 49.4 percent). The negative
financial result continued to decline noticeably, from minus EUR29.2
million to minus EUR56.1 million. This was largely attributable to
higher interest expenses both at Fraport Greece (up EUR18.2 million)
and the Group companies in Fortaleza and Porto Alegre (up EUR3.1
million). Correspondingly, Group EBT expanded only slightly by 1.2
percent to EUR26.2 million. The Group result (net profit) rose by 4.3
percent to EUR19.6 million, stimulated by slightly lower taxes on
income.

Operating cash flow noticeably slipped by 36.1 percent to EUR80.5
million in the first three months of 2018, attributable to reporting
date-related changes in working capital. With minus EUR66.9 million,
free cash flow clearly fell into negative territory, as a result of
higher investments at FRA and the Group companies in Fortaleza and
Porto Alegre, as well as Fraport Greece (Q1 2017: EUR54.0 million).

Jumping by 10.0 percent to 14.4 million passengers, traffic at
Frankfurt Airport continued to gain momentum during the first quarter
of 2018. Most of the Fraport Group's international airports also
reported significant and partly double-digit growth rates. In
particular, Antalya Airport (AYT) in Turkey continued to rebound
strongly compared to the first quarter of 2017. Only the Greek
regional airports registered a slight decline in accumulated
passenger numbers (down 2.1 percent), due mainly to the runway
closure at high-traffic Thessaloniki Airport (SKG) for renovation and
extension works.

Following completion of the first quarter, Fraport AG's executive
board is maintaining its forecasts for the Group's asset, financial,
and earnings position for the entire 2018 business year.

The complete Q1 Interim Release
https://www.fraport.com/en/our-company/investors.html can be viewed
on Fraport AG's website
(https://www.fraport.com/en/our-company/investors.html).

For further information about Fraport AG please click here:
http://ots.de/7L590

Contact:
Fraport AG
Torben Beckmann
Corporate Communications
Media Relations
60547 Frankfurt, Germany

E-mail: t.beckmann@fraport.de

Facebook: www.facebook.com/FrankfurtAirport

Original-Content von: Fraport AG, übermittelt durch news aktuell