Mixed first quarter fortunes for Frankfurt

Frankfurt airport operator Fraport said it had mixed financial results in a challenging business environment in its interim report for the first quarter of 2016.
With passenger traffic still growing – up 3.3% year-on-year, Fraport achieved higher revenue from airport and infrastructure charges as well as from aircraft handling, but this was offset by a decline in net retail revenue per passenger.
First quarter traffic figures, published in mid-April, showed that cargo (airfreight and airmail) volumes decreased 1% to 506,434 tonnes during the first three months of 2016, reflecting the slowdown in global trade.
Outside Frankfurt, the Group’s airports in Ljubljana (Slovenia), Varna and Burgas (Bulgaria), Xi’an (China), Hanover (Germany), and Lima (Peru) recorded strong traffic growth, but there were declines at Antalya (Turkey) and St. Petersburg (Russia).
Adjusted group revenue rose by €14.7 million (up 2.6%) to €572.5 million in the first quarter of 2016.
However, operating result or EBITDA (earnings before interest, tax, depreciation and amortization) declined by 4.9% to €145.6m, due to higher expenditure resulting from, among other things, collective wage agreements and non-capitalisable investments.
In contrast, the Group’s financial result improved from minus €56.4m to -€42.5 million, due to lower interest expenses and lower losses related to currency exchange rates. This led to an overall result, up €4.5 million (or 42.5%) to €15.1 million year-on-year.

Share this story

Related Topics

Latest cargo airport news

WFS wins Air France KLM Martinair Cargo contract at Brussels Airport

By Rachelle Harry

Worldwide Flight Services (WFS) has been awarded a five-year contract with Air France KLM Martinair Cargo at Brussels Airport. WFS…

Read More

Share this story

Rickenbacker’s cargo traffic breaks records in June

Ohio’s Rickenbacker International Airport achieved a record-breaking June with all-time highs for both international freighter arrivals and offloaded international tonnages….

Read More

Share this story

Record quarterly cargo volumes at Anchorage

By Damian Brett

Ted Stevens Anchorage International Airport (ANC) handled record volumes of cargo in the second quarter of the year as a…

Read More

Share this story