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Fraport revenues decline by US$19m for first half of 2016

German airport operator Fraport has reported revenues of more than €1.2bn (US$1.3bn) for the first half of 2016, a 1.4% decline year-on-year, which the company has attributed to a fall in passenger numbers and ongoing geopolitical tensions.

Although the figure represents a €17.1m (US$19m) decline when compared with the same period last year, the company claims that its sale of 51% of shares in Frankfurt Cargo Services (FCS) and the full sale of Air-Transport IT Services in 2015, both formerly wholly owned subsidiaries, must be taken into account.

Adjusting for these changes, group revenue in the first half of 2016 advanced by €19.2m (US$21.4m), up 1.6%. Revenue was positively impacted by higher revenue from the sales of land, among other factors. Outside of Frankfurt, the group’s subsidiaries, Lima Airport Partners, Twin Star and AMU Holdings, also contributed to revenue growth. Among other things, declining passenger volumes at Frankfurt Airport contributed to negative effects on revenue.

Dr Stefan Schulte, executive board chairman, Fraport, said, “With air traffic being negatively impacted by geopolitical circumstances, several of our group airports experienced significant traffic declines.

“Taking into account the expected positive effects resulting from the sale of a partial stake in Pulkovo International Airport in St Petersburg, Russia, we are maintaining our outlook for the group’s asset, financial, and earnings position for the 2016 business year, despite the challenging environment.”

August 4, 2016


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