Greece regional airports make Fraport’s ‘cash tills ring’
The Frankfurt airport operator reported strong growth in earnings last week, exceeding analysts’ expectations. Fraport’s Greece operations were particularly profitable for the Group.
Fraport’s revenue in the third quarter rose by 19 percent year-on-year to € 873 millionthe company announced on Thursday.
The regional airports in Greece made a significant contribution to these figures.
Fraport Greece, which has been included in the group since April, recorded a 13.7 increase in revenues to 2.2 billion euros to the end of September.
The 14 regional airports made 106 million euros in earnings before interest, taxes, depreciation and amortization (ebitda) -about one-eighth of the Group’s global Ebitda of 808 million euros.
Fraport is involved in the operation of almost a dozen airports worldwide, including the Turkish tourist airport of Antalya and Lima in Peru.
International business now contributes 40 percent to earnings.
But the airport operator is also satisfied with the growth at its home base in Frankfurt. Fraport expects five percent more passengers this year.
The higher number of passengers brought Fraport higher revenues from retail at the airport.
In addition, the fee increase for the airlines in January drove up the revenue.
Handlesblatt – Apokoronas News