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Fraport Fiscal Year 2008: Record EBITDA Despite...
Fraport Fiscal Year 2008: Record EBITDA Despite....
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n \n\n\n\nFRANKFURT, Germany, March 5 /PRNewswire/ --\n\n - Adjusted Revenue Increases - Annual Result Dips - 2009 Outlook is \nCautious\n\n\n\n- Preliminary Figures - Subject to Supervisory Board Approval\n\n In fiscal year 2008 the Fraport airport company again achieved\ngrowth in revenue, which increased by 3.8 percent after adjusting for special\neffects. In absolute terms, revenue declined by 9.8 percent to EUR2.1\nbillion. This loss in revenue versus 2007 was due to the sale of Fraport's\nICTS Europe security subsidiary on April 1, 2008, and to revenue received in\n2007 from finance leasing of the Airrail Center Frankfurt project. The Group\noperating result - EBITDA (earnings before interest, tax, depreciation and\namortization) - reached the new record figure of EUR600.7 million, up 3.5\npercent compared to the record year of 2007. As announced, the 2008 net\nprofit of EUR180.2 million was below the previous year's figure of EUR213.7\nmillion. Fraport's executive board is recommending an unchanged dividend\npayment of EUR1.15 per share.\n\n\n\n Fraport executive board chairman Dr. Wilhelm Bender said that\nthe strong downturn in the global economy led to declines in passenger and\nairfreight traffic at the Group's Frankfurt Airport (FRA) home-base in 2008.\nWith nearly 53.5 million passengers, Frankfurt Airport registered 1.3 percent\nfewer passengers than in the record year of 2007 - although the particularly\nattractive intercontinental passenger segment still reported light growth.\nCargo throughput (airfreight and airmail) dropped by 2.7 percent to 2.1\nmillion metric tons.\n\n\n\n At the Group level, traffic development for 2008 was more\npositive than in Frankfurt. Peru's Lima Airport saw passenger traffic jump by\n10.4 percent to 8.3 million and airfreight volume climb by 6.1 percent to\nalmost 240,000 metric tons. Antalya Airport on the Turkish Riviera recorded\n9.1 million passengers, up 8.5 percent year-on-year. In total, Fraport's\nmajority-owned airports welcomed about 78.2 million passengers and handled\nnearly 2.5 million metric tons of cargo (airfreight and airmail).\n\n\n\n Even in times of crisis, air transportation maintains its\nleading role for the global mobility of people and goods and continues to be\na prerequisite for the economic prosperity of \"Export Nation Germany\",\nstressed Bender. Moreov...