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Fraport in the black

March 12, 2013

The operator of Germany's biggest airport, Fraport, has reported slightly rising profit for 2012. But the biggest driver were not landing and take-off fees, but income generated from a wider network of stores.

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A Lufthansa airplane is de-iced at the Fraport airport in Frankfurt REUTERS/Lisi Niesner (GERMANY - Tags: TRANSPORT)
Image: Reuters

The Frankfurt airport operator said Tuesday its 2012 net profit edged up by 0.3 percent to 251.6 million euros ($327.7 million). Earnings before interest and tax rose by 6 percent to total 850.7 million euros.

Fraport reported its customer store business remained the company's cash cow last year, not least of all thanks to an expansion of shopping space at Frankfurt airport itself. Operational earnings in that segment soared by 9 percent last year to 334 million euros, with the company not securing rental revenues, but also a fixed share from sales.

By contrast, collected fess for landing and take-off operations only amounted to 200 million euros last year, a 6-percent improvement over 2011 levels.

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Stable dividend

Fraport announced satisfactory business concerning its operations abroad. The company owns a stake in Peru's Lima airport, a hub in Antalya, Turkey and two airports in Bulgaria.

All in all, the firm managed to increase its revenues by 3 percent to 2.44 billion euros, prompting it to once again to suggest a dividend of 1.25 euros per M-DAX share for 2012.

Fraport admitted passenger numbers had been disappointing at the beginning of the current year. It said it figures were likely to stagnate on a full-year basis. It expected some 57 million customers this year at Frankfurt airport, Germany's biggest aviation hub.

hg/mz (Reuters, dpa)