BERLIN (dpa-AFX) - Fraport (FRA.DE, 0O1R.L, FPRUF.PK), the owner and operator of Germany's Frankfurt Airport, reported Wednesday that its first-quarter Group net profit increased 42.9 percent to 28.0 million euros from 19.6 million euros in the year-ago period.
Group EBT increased by 39.3 percent to 36.5 million euros from 26.2 million euros a year ago. Group EBIT for the quarter reached 86.1 million euros, up 4.6 percent from last year.
Group EBITDA, a key earnings metric, climbed 14.8 percent from the year-ago period to 200.6 million euros. This includes a positive effect of 10.9 million euros resulting from the application of IFRS 16. This was offset by additional write-offs of 10.4 million euros and an increase of 2.8 million euros in interest expenses.
Supported by solid passenger growth in Frankfurt Airport or FRA and almost all international locations, Group revenue for the quarter advanced 17.9 percent to 803.8 million euros from 681.7 million euros last year.
Adjusted for revenue related to expansion investments in the international Group companies according to IFRIC 12, sales for the quarter increased by 5.3 percent to 678.5 million euros.
Frankfurt Airport counted almost 14.8 million passengers in the first quarter. This corresponds to an increase of 2.5 per cent - despite the later Easter holidays than in the previous year.
Looking ahead, the company said its management board is affirming its forecast for fiscal 2019.
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