BERLIN (dpa-AFX) - Fraport AG said it has proposed to the Annual General Meeting to carry forward net profits of the financial year 2019 entirely into revenue reserves, citing the recent developments of the coronavirus pandemic.
Since the proposed appropriation of net profits of 2 euros per Fraport share, the intensity of the spread of the coronavirus, as well as related travel restrictions and restrictions on public life, have significantly increased.
The changed framework conditions have a clearly more negative impact on the business, revenue and earnings situation of Fraport AG and its Group companies than initially expected.
Fraport said it could not make statement regarding the dividend for the financial year 2020, due to the unforeseeable market development.
Fraport will publish its first quarter results on May 6, 2020.
Copyright RTT News/dpa-AFX
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