Frankfurt airport making sluggish post-pandemic recovery [Yahoo! Finance]
FRAPORT AG UNSP/ADR (FPRUY)
NASDAQ:AMEX Investor Relations:
fraport.com/content/fraport/en/our-company/investors.html
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Source: Yahoo! Finance
Fraport expects the number of passengers using the country's largest airport to be in the range of 61 million for 2024. For the important summer quarter, passenger numbers were only 1.8% higher than in the previous year and 13% below the 2019 level - the year before the pandemic. Regarding the company's annual operating earnings before interest, taxes, depreciation and amortization (EBITDA), chief executive Stefan Schulte said he is aiming for the middle of the previously announced range of €1.26-1.36 billion ($1.37-1.48 billion). Fraport reported a generated revenue of €1.35 billion for the third quarter, 11% more than for the same quarter in the previous year. The company's EBITDA increased by just 1% compared to the same quarter in the previous year, to almost €484 million. Profit attributable to Fraport shareholders was almost €230 million in the third quarter, a decline of around 2.5% compared to the previous year.
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