In the first six months of the 2017 business year (January to June), Fraport AG´s Group revenue advanced to almost EUR 1.4 billion, an increase of EUR 130.6 million or 10.7 percent year-on-year, the company said.
Reasons for this positive performance included strong passenger growth and higher revenue gained from property sales, as well as increased retail revenue achieved at the Group´s home base Frankfurt Airport. Beyond Frankfurt, revenue growth was driven, in particular, by the Group´s Fraport Greece subsidiary, which commenced operations on April 11, 2017, and Fraport´s Lima Airport subsidiary.
The increase in operating expenses resulted, in particular, from the rise in personnel expenses at Fraport AG; higher concession payments (traffic-related) at the Lima subsidiary; increased expenses paid in connection with higher revenue from property sales in the Retail & Real Estate business segment; and the takeover of operations at the Greek regional airports.
The Group´s EBITDA and EBIT both increased markedly by 11.0 percent to EUR 420 million and by 12.2 percent to EUR 240.7 million, respectively. Also the improved financial result led to a significant surge in the Group´s EBT, growing by EUR 44.5 million or 30.5 percent to EUR 190.3 million.
With payments for taxes on income amounting to EUR 53.4 million (in 6M/2016: EUR 46.1 million), the Group result (net profit) reached EUR 136.9 million – an increase of EUR 37.2 million. Reflecting the positive operational performance across the Group, free cash flow expanded by 32.7 percent, from EUR 149.3 million to EUR 198.1 million in the first six months of 2017.
Frankfurt Airport (FRA) served some 30 million passengers in the first half of 2017, thus posting a new historic record and exceeding the previous year´s level by a noticeable 4.5 percent. Cargo throughput (airfreight + airmail) climbed by 5.3 percent year-on-year, to nearly 1.1 million metric tons. Hence, cargo traffic continued its growth trend from the second half of 2016, in tandem with economic growth.
Passenger numbers also increased across the Fraport Group´s international portfolio of airports. Ljubljana Airport (LJU) in Slovenia´s capital welcomed some 723,000 passengers in the first six months of 2017, an increase of 20.8 percent compared to the same period last year.
The 14 Greek regional airports welcomed more than 9.6 million passengers, up 11.9 percent. Lima Airport (LIM) in Peru continued to record noticeable traffic growth of 8.4 percent to almost 9.7 million passengers. T
he airports of Varna (VAR) and Burgas (BOJ) on the Bulgarian Black Sea coast saw combined traffic grow by 9.4 percent year-on-year to some 1.3 million passengers. Antalya Airport (AYT) in Turkey registered traffic growth of 29.4 percent to about 9.5 million passengers.
Almost 7.1 million passengers passed through Pulkovo Airport (LED) in St. Petersburg, Russia, representing a gain of 25.4 percent. Hanover Airport (HAJ) in northern Germany received some 2.6 million passengers in the first half of 2017, up 4.9 percent. Xi´an Airport (XIY) in China continued to achieve dynamic growth, with traffic rising by 14.4 percent to about 20.1 million passengers.