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Fraport Group 9-month Profit Up 9.4%; Affirms FY19 Outlook - Quick Facts

Fraport Group (FRA.DE,0O1R.L,FPRUF.PK), the owner and operator of Germany's Frankfurt Airport, on Wednesday reported that its group result or net profit for the first nine months of fiscal 2019 rose 9.4 percent to 413.5 million euros from 377.8 million euros in the prior-year period. Earnings per share increased to 4.10 euros from 3.73 euros a year ago.

Operating result, or Group EBITDA for the nine months increased 7.7 percent year-on-year to 948.2 million euros.

Group EBIT rose by 2.6 percent from the year-ago period to 595.3 million euros.

Group revenue for the nine-month period grew 12.0 percent to 2.85 billion euros from 2.55 billion euros in the year-ago period.

Adjusted for the proceeds from expansion investments in the international participating airports in accordance with IFRIC 12 accounting standard, revenue grew 5.2 percent to 2.49 billion euros.

Frankfurt Airport closed the first nine months of the year with stable passenger growth of 2.3 percent to around 54.2 million passengers. However, the company noted that growth momentum has slowed significantly over the course of the year.

Looking ahead, Fraport confirmed its financial outlook for fiscal 2019. The company continues to expect full-year Group EBITDA to be between about 1.160 billion euros and about 1.195 billion euros, the group EBIT between about 685 million euros and about 725 million euros, and the consolidated result between about 420 million euros and about 460 million euros.

The Fraport Executive Board continues to adhere to its passenger traffic forecast in Frankfurt. Given the supply reductions in the Winter timetable, the company expects the increase in passenger volume to be more likely at the lower end of the range between about two to three percent.

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