Fraport Group Interim Release - First Quarter 2019: New Business Year Starts Off Successfully (FOTO)

Frankfurt (ots) -

Revenue and earnings increase - Outlook confirmed

The Fraport Group has successfully started off the new business
year, achieving higher revenue and earnings in the first three months
of 2019. Supported by solid passenger growth at Frankfurt Airport and
almost all of Fraport's airports worldwide, Group revenue rose by
17.9 percent to EUR803.8 million. Adjusted for revenue in connection
with capital expenditure for expansion projects at Fraport's Group
companies worldwide (according to IFRIC 12), revenue grew by 5.3
percent to EUR678.5 million. At Frankfurt Airport (FRA), traffic
growth led to higher revenue, particularly from ground handling
services, as well as security services and infrastructure charges.
Moreover, the retail and parking businesses had a positive impact on
revenue. In Fraport's international portfolio, major contributions
came, in particular, from the Lima (Peru) and the Fraport USA Group
companies. In the U.S. market, Fraport recently took over management
of retail areas at New York-JFK's Terminal 5 (April 2018) and at
Nashville International Airport (February 2019).

The operating result or Group EBITDA (earnings before interest,
taxes, depreciation and amortization) advanced by 14.8 percent to
EUR200.6 million in the reporting period. This amount includes a
EUR10.9 million positive effect, resulting from the application of
IFRS 16 (effective January 1, 2019). The positive effect is offset by
additional amortization and depreciation in the amount of EUR10.4
million and a EUR2.8 million increase in interest. Establishing new
rules for the accounting of leases, the IFRS 16 standard specifically
affects lease contracts between the Fraport USA Group company and
respective concession lessors. Thus, Group EBIT climbed by 4.6
percent to EUR86.1 million. Supported by a better interest result,
the financial result improved from minus EUR56.1 million in Q1 2018
to minus EUR49.6 million in the first quarter of 2019.
Correspondingly, Group EBT soared by 39.3 percent to EUR36.5 million,
while the Group result (net profit) jumped 42.9 percent to EUR28.0
million.

Commenting on the Group's positive business performance in the
first quarter of 2019, Fraport AG's executive board chairman, Dr.
Stefan Schulte, said: "We had a robust start to the new business
year, supported once more by the ever growing contributions to
revenue and earnings from our Group airports worldwide. In Frankfurt,
we successfully managed the first stress test of 2019 during the busy
Easter travel period. Together with our partners, we will continue
striving to accommodate the high demand of our customers in the best
possible way. To achieve this goal, we will further optimize and
streamline processes and improve infrastructure utilization, as well
as vigorously moving our expansion projects forward."

Operating cash flow jumped noticeably by 60.2 percent to EUR129.0
million in the first three months of 2019, reflecting the positive
operational performance across the Group's airports. When adjusting
for the changes in net current assets included in the statement of
cash flows, operating cash flow improved by EUR12.6 million or 9.1
percent. Despite increased operating cash flow, free cash flow
dropped strongly to minus EUR245.9 million in the first quarter of
2019, due to higher capital expenditure both at Frankfurt Airport and
in the international business (Q1 2018: minus EUR66.9 million).

FRA welcomed almost 14.8 million passengers from January to March
2019, up 2.5 percent year-on-year. FRA achieved this increase despite
the fact that traffic in March 2018 received an additionally boost
from the earlier timing of the Easter school holidays. This year, in
comparison, the Easter break fell during April. Fraport's Group
airports worldwide largely reported positive traffic performance,
although the different timing of the Easter holidays impacted some
Group airports serving tourist destinations.

Following the end of the first quarter of this year, the Executive
Board maintains its forecasts for fiscal year 2019.

You can find our Interim Release Q1 2019 (http://ots.de/HFMbNo) on
the Fraport AG website.

In tandem with the company's first quarter 2019 interim financial
report, Fraport AG today also issued its latest Sustainability Report
and a GRI report for the full 2018 business year. Both reports
provide an insight into Fraport's activities and progress regarding
responsible corporate governance. The reports can be downloaded in
PDF format at www.fraport.com/responsibility. A print version of
Fraport AG's Sustainability Report is also available and can be
ordered by sending an email to verantwortung@fraport.de.

For further information about Fraport AG please click here:
http://ots.de/7L590

Contact:
Fraport AG
Torben Beckmann
Corporate Communications
Media Relations
60547 Frankfurt, Germany

E-mail: t.beckmann@fraport.de
Facebook: www.facebook.com/FrankfurtAirport

Original-Content von: Fraport AG, übermittelt durch news aktuell