Fraport AG (FPRUF.PK,FRA.DE), the owner and operator of Germany's Frankfurt Airport or FRA, Tuesday said EBITDA, a key earnings performance metric, increased six percent in 2012 as revenues grew by higher passenger traffic at FRA. For February, the firm posted a 0.2 percent rise in passengers at FRA home base. However, the Group expects its result in 2013 to be lower than the previous year, due to continuing rise in depreciation and financing costs.
According to the company, its retail and real estate business segment contributed to the positive development in the year, particularly due to growth in net retail revenue per passenger at FRA.
The company sees the macro-economic environment to remain challenging in 2013. However, the firm essentially expects stable passenger figures at Frankfurt Airport during the current business year.
For 2013, Fraport expects FRA's passenger volume to be at about the same level as in 2012. Revenues are expected to increase by up to five per cent, and EBITDA to reach about 870 million euros to 890 million euros.
Executive board chairman Stefan Schulte stated, "Overall, our company developed well during the 2012 business year, and we met expectations. Compared to many other German and European airports, Frankfurt Airport performed well in a difficult environment - and gained more than one million passengers."
Earnings before interest, tax, depreciation and amortization or EBITDA, increased 6 percent to 850.7 million euros. Group result before minority interest increased 0.3 percent to 251.6 million euros.
Annual revenues climbed by 70.8 million euros to 2.44 billion euros.
During the year, passenger traffic in Fraport's five majority-owned airports grew 2.9 percent to 99.4 million passengers. At its Frankfurt Airport home base, number of passengers improved 1.9 percent year-over-year to 57.5 million.
Along with the FRA home airport, Fraport has a majority shareholding of at least 50 percent in four international airports comprising Antalya in Turkey, Lima in Peru, Burgas and Varna in Bulgaria.
For the month of February, Fraport reported a 0.2 percent rise in passengers at FRA to 3.6 million. Overall, Fraport's five majority-owned airports served about 5.4 million passengers, up 2.9 percent year-on-year.
FRA's cargo traffic fell 3 per cent in the reporting month to 156,258 metric tons. Aircraft movements declined 2.1 percent to 33,656 takeoffs and landings.
The company plans to recommend a dividend of 1.25 euros per share at its Annual General Meeting on May 31.
On Frankfurt's Xetra, Fraport shares closed Monday's trading at 45.04 euros, down 0.27 percent.
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