Fraport AG (FPRUF.PK, 0O1R.L, FRA.DE), the owner and operator of Germany's Frankfurt Airport or FRA, reported a plunge in first-quarter 2013 profit attributable to shareholders to 5.1 million euros, from last year's 15.0 million euros, with earnings per 10 euros share falling to 0.06 euros, from 0.16 euros a year before.
However, Group revenue totaled 550.2 million euros in the recent quarter, a 2.3 percent increase year-on-year, mainly due to Frankfurt Airport's growth in revenue from airport charges and from gains in the retail business, spurred by the inauguration of the new Pier A-Plus in October 2012. Quarterly total revenue advanced to 567.8 million euros, from 552.2 million euros, as adjusted, in the 2012 first quarter.
Looking ahead, the firm expects passenger figures at Frankfurt Airport to remain at about the same level as in the 2012 fiscal year, whereas for the major Group companies outside Frankfurt, the growth in passenger figures is likely to continue. For 2013, the Group EBITDA is expected to range between 870 million euros and 890 million euros, while the Group result is anticipated to decline. Fraport added that its 2013 forecast for traffic figures and earnings remains unchanged.
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