Fraport: shares fall despite slight profit beat
(CercleFinance.com) - German airport operator Fraport posted better-than-expected quarterly operating profit on Wednesday, although its shares fell 1.
3%.
Over the first nine months of the year, the group's EBITDA rose by 7.7% to 948.2 million euros, 1% ahead of the consensus.
From January to September, Fraport's revenue increased by 12% to 2.85 billion euros, as passenger traffic at its Frankfurt hub advanced by 2.3% to about 54.2 million.
Fraport maintained its full-year traffic outlook, but said that passenger growth was expected to reach the lower end of the forecast range of about 2% to 3% at its Frankfurt airport.
The group also maintained its forecast for group EBITDA, which it still expects to be between approximately 1.16 billion euros and 1.19 billion euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
3%.
Over the first nine months of the year, the group's EBITDA rose by 7.7% to 948.2 million euros, 1% ahead of the consensus.
From January to September, Fraport's revenue increased by 12% to 2.85 billion euros, as passenger traffic at its Frankfurt hub advanced by 2.3% to about 54.2 million.
Fraport maintained its full-year traffic outlook, but said that passenger growth was expected to reach the lower end of the forecast range of about 2% to 3% at its Frankfurt airport.
The group also maintained its forecast for group EBITDA, which it still expects to be between approximately 1.16 billion euros and 1.19 billion euros.
Copyright (c) 2019 CercleFinance.com. All rights reserved.