Fraport reports mixed results
06 / 08 / 2008
IN the first six months of fiscal year 2008, the Fraport Group registered sales revenue of €1,044.5 million, 7.1 per cent below last year’s first half, which benefited from special effects. Adjusted for these effects, sales revenue jumped by 5.8 per cent. At the same time, EBITDA (earnings before interest, taxes, depreciation and amortisation) in the first two quarters of 2008 rose by 4.5 per cent to €285.4 million; the adjusted EBITDA advanced by 2.4 per cent.
Group profit in the first half of 2008 reached €93 million, 9.5 per cent short of the previous year’s level due to higher interest expenses. In the reporting period the group’s cargo (airfreight + airmail) throughput, surged 6.1 per cent year-on-year to 1,250,146 metric tons.
The lower sales revenue was due to a loss of €79.6 million in revenue because of Fraport’s sale of its ICTS Europe security subsidiary on 1 April, 2008, and to revenue of €57.6 million received last year in connection with the Airrail Center finance lease.