Business
Fraport Interim Report - January to September 2...
Fraport Interim Report - January to September 2....
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n \n\n\n\nFRANKFURT, Germany, November 6 /PRNewswire/ --\n\n- More Passengers and Airfreight - EBITDA Growth Despite Revenue Decline\n\n In the first three quarters of fiscal year 2008 all key\ntraffic and financial indicators of the Fraport Group continued to improve.\nFrankfurt Airport (FRA) welcomed 0.1 percent more passengers, while\nGroup-wide Fraport recorded 1.9 percent passenger growth. Airfreight tonnage\nrose by 1.2 percent at FRA and climbed by 2.9 percent for the Fraport Group's\nairports combined. With EUR 1.6 billion, sales revenue fell 8.8 percent short\nof the previous year's level. However, adjusted for the extraordinary effects\nin the first nine months of 2007, Group revenue jumped by 4.4 percent.\nUnadjusted, EBITDA (earnings before interest, taxes, depreciation and\namortization) increased by 0.4 percent to EUR492.5 million; the adjusted\nEBITDA grew by 1.8 percent. Group profit advanced by 0.6 percent year-on-year\nto EUR 220 million.\n\n\n\n Fraport AG's executive board chairman Dr. Wilhelm Bender said\nthat after the satisfying rates of increase in the first half of 2008, \"the\neconomic development with its downward business trend\" as well as the global\nfinancial crisis have affected world air traffic and thus Fraport's operating\nbusiness.\n\n\n\n At Frankfurt Airport, Fraport recorded 41.1 million passengers\nfrom January through September 2008, up 0.1 percent year-on-year. Airfreight\nthroughput increased by 1.2 percent to 1.56 million metric tons, and aircraft\nmovements dropped by 0.7 percent to approximately 368,000 takeoffs and\nlandings. At Fraport's majority-owned airports, the number of passengers\nclimbed by 1.9 percent to 61 million, while cargo (airfreight and airmail)\nrose by 2.9 percent to 1.9 million metric tons.\n\n\n\n In particular, accumulated maximum takeoff weights (MTOWs)\ndeveloped positively at Frankfurt Airport, increasing by 1.3 percent over the\ncomparable January-to-September 2007 period to 21.5 million metric tons.\nBecause MTOWs are an indicator of aircraft size, \"this means that the share\nof the lucrative intercontinental traffic at FRA has increased further\"\nexplained Bender. About 70 percent of all intercontinental flights to Germany\nland at Frankfurt. Bender called this a positive development, because \"most\nlong-haul passengers have strong purchasing power an...