Fraport Stock Up On Growth In FY24 Results, Positive EBITDA Outlook

RTTNews | 12時33分前
Fraport Stock Up On Growth In FY24 Results, Positive EBITDA Outlook

(RTTNews) - Shares of Fraport AG were gaining around 2 percent in German trading after the airport operator reported Tuesday higher profit in its fiscal 2024 as revenues were benefited by increased traffic volumes and prices at Frankfurt Airport and across its international network of airports.

Looking ahead, for fiscal 2025, Fraport projects Group profit at previous year's level or slightly below, while EBITDA is expected to grow at moderate single-digit percentage. The company expects to see only moderate traffic growth in FRA this year due to the continued delays in delivery from aircraft manufacturers, which are particularly affecting its main customer, Lufthansa.

Fraport CEO Stefan Schulte said, "Despite headwinds, we've achieved a solid result. .. In addition to bottlenecks in the delivery of new aircraft, excessively high regulatory costs continue to be a major factor. If no political action is taken, costs imposed by regulators will further increase in 2025, with airlines facing an additional €1.2 billion burden. On the positive side, our international subsidiary airports largely presented a better performance, with many of them achieving dynamic growth rates."

For the 2025 fiscal year, Fraport expects Group result to reflect the non-recurrence of a one-off effect from 2024, when the sale of a minority stake in Pulkovo Airport contributed more than 40 million euros to the result. Passenger numbers in Frankfurt would reach up to 64 million.

By 2030, the company projects EBITDA to reach 2 billion euros, and Group-wide passenger numbers at fully consolidated sites to reach 187 million.

In Frankfurt, construction of Terminal 3 is continuing, with commissioning planned for after Easter 2026.

Further, the Supervisory Board and the Executive Board have again decided not to propose a dividend to the 2025 Annual General Meeting due to the continuing high level of Group debt. Instead, the company would allocate the profit earmarked for distribution to revenue reserves.

In fiscal 2024, Group result climbed 16.6 percent to 501.9 million euros from last year's 430.5 million euros. Basic earnings per share grew 14.6 percent to 4.88 euros from prior year's 4.26 euros.

EBITDA, a key earnings metric, grew 8.1 percent to 1.30 billion euros from 1.20 billion euros a year ago.

Revenue increased 10.7 percent to 4.43 billion euros from last year's 4 billion euros. Revenue adjusted for IFRIC 12 was 3.89 billion euros, up 11.7 percent from the previous year.

Despite challenges, the group-wide traffic growth was driven especially by developments at the locations in Lima, Greece, Antalya, and also Frankfurt Airport or FRA, the firm noted.

The Group-wide passenger numbers at fully consolidated sites rose by 2.9 percent year on year to 136.4 million.

Fraport welcomed around 61.6 million passengers at its FRA home-base airport in 2024, an increase of 3.7 percent compared to 2023. In Frankfurt, leisure traffic continued to dominate, while demand for business travel also continued to rise.

Cargo volumes in Frankfurt, comprising airfreight and airmail, rose 6.2 year-on-year in 2024 to around 2.1 million metric tons.

Across the Group, most of Fraport's subsidiary airports also experienced growth in 2024. Overall, passenger numbers at Fraport's Group airports outside Germany exceeded the levels seen in pre-pandemic 2019 by 1.3 percent.

In Germany, on the XETRA, Fraport shares were trading at 57.10 euros, up 1.7 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

read more
Fraport Stock Up On H1 Profit, Upbeat FY23 Earnings View

Fraport Stock Up On H1 Profit, Upbeat FY23 Earnings View

Shares of Fraport Group were gaining around 8 percent in the morning trading in Germany after the airport operator reported Tuesday a profit in its first half, compared to last year's loss, with strong passenger demand. The company further said it now expects to meet the upper half of its earnings projection range for fiscal 2023.
RTTNews | 588日前
Japan Rate Decision Due On Wednesday

Japan Rate Decision Due On Wednesday

The Bank of Japan will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, headlining a busy day for Asia-Pacific economic activity. The BoJ is widely expected to keep its benchmark lending rate unchanged at 0.50 percent.
RTTNews | 4時28分前
Dollar Stays Weak Ahead Of Fed Policy

Dollar Stays Weak Ahead Of Fed Policy

The U.S. dollar turned in a weak performance against most of its major counterparts on Tuesday as traders tracked the developments on the geopolitical front, digested a slew of economic data, and looked ahead to monetary policy meetings of major central banks, including the Federal Reserve.
RTTNews | 5時14分前
TSX Ends Moderately Lower After CPI Data

TSX Ends Moderately Lower After CPI Data

The Canadian market ended modestly lower on Tuesday as hot inflation data, and growth worries due to Trump's tariffs weighed on sentiment. Also, investors stayed cautious ahead of the Federal Reserve's monetary policy announcement, due on Wednesday.
RTTNews | 5時42分前
Canadian Market Remains Weak After Hot Inflation Data

Canadian Market Remains Weak After Hot Inflation Data

Despite coming off the day's lows, the Canadian market continues to languish in negative territory Tuesday afternoon and looks set to end the session on a weak note. Hot inflation data, and worries about tariffs and economic outlook weigh on sentiment.
RTTNews | 7時29分前