BERLIN (dpa-AFX) - Fraport AG (FRA.DE, 0O1R.L, FPRUF.PK), the operator of Germany's Frankfurt Airport or FRA, reported Tuesday that its fiscal 2018 net profit group result climbed 40 percent from last year to 505.7 million euros. This includes earnings gained from the sale of Fraport's stake in Hanover Airport, which contributed 75.9 million euros.
The operating result -Group EBITDA- grew 12.5 percent from last year to over 1.1 billion euros.
In the 2018 fiscal year, revenue climbed 18.5 percent to nearly 3.5 billion euros, supported by strong passenger growth at its Frankfurt Airport home base and its Group airports worldwide.
After adjusting for revenue related to capital expenditure for expansion measures at the international Group companies, revenue rose 7.8 percent to over 3.1 billion euros.
About two-thirds of this increase can be attributed to Fraport's international portfolio - with the airports in Brazil and Greece, in particular, making a significant contribution.
Serving some 69.5 million passengers, FRA achieved a new passenger record in 2018 and growth of 7.8 percent compared to 2017.
Given the positive business development, the Executive Board and Supervisory Board will propose to the Annual General Meeting that the dividend be raised to 2.00 euros per share for the 2018 fiscal year from last year's 1.50 euros per share.
Looking ahead for fiscal 2019, Fraport is forecasting sustained growth at all of the Group airports. At Frankfurt Airport, passenger volume is expected to rise between around two and roughly three percent.
The company expects to post annual Group result -net profit- of around 420 million euros and about 460 million euros. Fraport expects Group EBIT to be in the range of about 685 million euros and around 725 million euros.
Group EBITDA is expected to reach a range of around 1.160 billion euros and approximately 1.195 billion euros, despite the non-recurring revenue from the sale of Fraport's stake in Hanover Airport.
Fraport expects consolidated revenue to increase slightly up to around 3.2 billion euros, adjusted for IFRIC 12.
The dividend per share is expected to remain stable at the higher level of 2 euros for the 2019 fiscal year.
Copyright RTT News/dpa-AFX
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