BERLIN (dpa-AFX) - German airport operator Fraport (FRA.DE, 0O1R.L, FPRUF.PK) reported Tuesday that its first-quarter Group result net loss was 118.2 million euros, wider than prior year's loss of 77.5 million euros, due to one-off effects. Loss per share was 1.17 euros, wider than loss of 0.70 euro a year ago..
Fraport said its business performance continued to be affected by the coronavirus pandemic, as well as the initial impact on aviation from Russia's invasion of Ukraine.
Group EBIT, however, improved to negative 41.3 million euros from last year's negative 70.2 million euros. Operating result or EBITDA climbed 75.9 percent to 70.7 million euros from prior year's 40.2 million euros.
Fraport's Group revenue climbed 40.2 percent to 539.6 million euros from last year's 385 million euros in 2021, driven by the rebound in passenger demand. Adjusted revenue grew 37.6 percent from last year to 474.4 million euros.
Fraport's home-base hub Frankfurt Airport or FRA served a total of 7.3 million passengers in the first quarter, an increase of more than 100 percent from last year.
Most of the Fraport Group airports outside Germany gained more than 100 percent in traffic.
Further, Fraport maintained its outlook for the current 2022 business year. The Group result (net profit) is expected to be clearly in positive territory, ranging between about 50 million euros and 150 million euros.
Group EBITDA is forecast to range between about 760 million euros and 880 million euros. Group revenue is projected to reach some 3 billion euros in fiscal year 2022.
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