Strong 2017 for the Fraport Group

posted on 16th March 2018 by Jordan Newton
Strong 2017 for the Fraport Group

Revenue at the Fraport Group rose by almost 13.5 per cent to €2.93 billion in the 2017 fiscal year driven by the performance of its Greek airports which boosted revenue by €234.9 million.

The airport operator’s EBITDA increased by approximately 18 per cent or about €150 million. The Group result (consolidated earnings) fell by 10.1 per cent to €360 million.

In the annual report, Fraport reported that Frankfurt Airport (pictured above) remained Europe’s s busiest cargo gateway handling 2.2 million tonnes in 2017 and rise of 3.3 per cent on 2016.

The company explained there was “dynamic growth” in transatlantic volumes at Frankfurt last year, after the decline in tonnage seen in 2016.

The company’s other gateways include Peru’s Lima Airport, which saw a drop in volumes of 1.4 per cent to 283,702 tonnes in 2017 while volumes at Xi’an Airport in China were up 11.2 per cent to 259,883 tonnes.

Fraport’s ground handling services division saw a slight 1.8 per cent gain in revenue (€8.1 million) to €641.9 million in 2017. This is due mainly to increased revenue from ground services thanks to traffic growth at Frankfurt Airport.

The company is predicting its overall revenue to reach €3.1 billion in the fiscal year 2018 and cargo volumes at Frankfurt to rise by around one per cent over 2017.

Fraport executive board chairman, Stefan Schulte said: “In Frankfurt, the strategic decisions that we have taken are allowing us to benefit from considerable market growth once again, and we can look back on a very strong year indeed.

“Internationally, we achieved important milestones with the operational takeover of 14 Greek airports and the acquisition of two concessions in Brazil. With these developments, we are securing the Fraport Group’s long-term growth prospects, while diversifying our portfolio with a broader and stronger foundation for the future.”