logo
Plus   Neg
Share
Email

Fraport Proposes To Carry Forward 2019 Profits Into Revenue Reserves

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Zoom Video Communications (ZM) gained 4% on extended session Tuesday after the video conferencing software company reported a first-quarter results that trumped Wall Street estimates and issued a outlook for the second and full year 2021 that is expected to beat current expectations. First-quarter... The National Retail Federation Chief Economist Jack Kleinhenz said it was too early to say how quickly or smoothly the U.S. economy would stage a recovery following the "sizable disruptions" due to the coronavirus pandemic. However, he noted that the reopening of businesses and the resumption of economic activity is a significant step forward. Following the recall of type 2 diabetes medication Metformin Hydrochloride Extended-Release (ER) by Apotex last week, the U.S. Food and Drug Administration or FDA has recommended more pharmaceutical companies, who are manufacturers of the drug formulation, to recall their products.
Follow RTT