Fraport: first-half results 'significantly' higher.

(CercleFinance.com) - Fraport's results improved significantly in the first six months of 2017, the German company said on Thursday.


Group revenue rose by 10.7% year-on-year, reaching almost 1.4 billion euros in the first-half, thanks to passenger growth, higher revenue from property sales, and increased retail revenue.

Fraport said earnings before interest, tax, depreciation and amortisation (EBITDA) was up 11% at 420 million euros, while net profit reached 136.9 million euros, up 37%.

The company said that its Frankfurt airport served some 30 million passengers in the first half of 2017, posting a new historic record and up 4.5% relative to the previous year.

As a result, Fraport has slightly increased its traffic outlook for Frankfurt Airport for 2017, with passenger figures expected to increase by approximately 5%.

Despite this, Fraport's financial outlook remains unchanged, which has resulted in the shares falling 2.9% to 83.8 euros.

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