Higher turnover for Fraport Greece; passenger numbers also foreseen as rising

Friday, 10 August 2018 11:35
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Fraport Greece's parent company foresees passenger increases at the 14 regional airports that the former manages around the east Mediterranean country, with the increased numbers expected in the high single-digit territory.

Fraport AG's published results this week for H1 2018 show higher turnover for the entire group by 13 percent, compared with the same period last year, reaching 1.532 billion euros.

The report included a specific reference to its Greek subsidiary, citing its "substantive contribution" to the group's higher turnover.

Fraport Greece's turnover in the first half of 2018 reached 141.7 million euros, up by 83.5 million euros compared to the same period of 2017. Nevertheless, the figure is incomplete, given that Fraport Greece assumed the management of the 14 airports in April 2017, with the facilities still managed by the Greek state in the first quarter of 2017.

Operational  expenditures for Fraport Greece reached 101.1  million euros in H1 2018, while EBITDA stood at 41.3 million euros.

On the down side, Fraport Greece still showed a loss of 20.7 million euros in end results, a development Fraport executives in Germany have predicted in the first years of their subsidiary's operation in the Greek market, due to the concession payment and major overhauls at all 14 of the airports.

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