For the first six months (January to June) of fiscal year 2014, Fraport’s Retail and Retail Estate segment reported a decline of 4.4% to €218.7m with contributing factors including lower revenue from land sales as well as energy supply services and utilities.

 

Net retail revenue per passenger also saw a decline from €3.56 to €3.42 during the first half of 2014. “In particular, this drop can be attributed to fluctuations in exchange rates and passenger traffic, especially for some destinations having high retail purchasing patterns,” says Fraport.

 

Nevertheless, segment EBITDA remained at a stable level of €172.3m (up 0.1%) due to declining costs for energy supply and utilities in the reporting period. Segment EBIT dropped by €1.3m to €131.1m.

 

Fraport’s adjusted revenue was flat (+1%) reaching €1.12 billion, but the airports operator achieved double-digit gains in both Group EBITDA (up by 10% to €354.2m) and Group result (up by 11.7%to €91.7m).

 

In the second quarter of 2014, Fraport AG’s revenue rose by 1% to €600.1m compared to the adjusted figures for the second quarter of 2013. The Frankfurt-based airport company recorded a noticeable increase in Group EBITDA (earnings before interest, tax, depreciation and amortization) of 9.6% to €219.7m, as well as a 10.4% jump in the Group result to €85.7m.

 

This positive financial development parallels the growing traffic volumes. Welcoming some 27.8, passengers, FRA registered growth of 2.4% year-on-year as well as a new half-year passenger record – despite a number of strike days that affected the airport from February to April 2014.

 

Fraport AG’s executive board Chairman, Dr. Stefan Schulte, explained: “Fraport’s good financial performance in the first half of 2014 can be attributed to ongoing passenger growth both in Frankfurt and at our international airports – and also because of lower capital expenditures. The ongoing growth in demand for air traffic worldwide opens up development opportunities for Fraport domestically and internationally – whereby the timely creation of the required capacities at each airport is vital.”