Fraport: forecasts raised on solid interim results
(CercleFinance.com) - On Tuesday the German airport operator Fraport announced a 21.
8% increase in its underlying profit for H1, which beat analysts' estimates.
EBITDA rose to 408.3 million euros in H1, on revenues that increased 66.3% to 1,348.5 million euros.
In its press release, the operator of Frankfurt airport said that it had benefited from the recovery in air traffic, with almost 21 million passengers having passed through its platform during the first six months: although still 38% below H1 2019, i.e. before the pandemic, it is up 220% year-on-year.
For 2022, Fraport now expects to welcome between 45 and 50 million passengers at its Frankfurt hub, compared to a previous forecast of 39 to 46 million.
Regarding profitability, the group expects to generate Ebitda at the top of a 850 to 970 million euro range this year, vs. 760 to 880 million euros forecast previously.
Following these optimistic comments, Fraport's shares rose 1.5% in Frankfurt, outperforming a German stock market that was down 0.5%.
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