BERLIN (dpa-AFX) - German airport operator Fraport Group (FPRUF.PK) reported that its third quarter net profit climbed to 272.0 million euros from 151.2 million euros in the prior year.
Group EBITDA improved to 478.1 million euros in the third quarter from 420.3 million euros in the previous year.
Group revenue for the third quarter grew by 17.0 percent to 1.08 billion euros from last year's 925.6 million euros, reflecting the rebound in passenger traffic during the summer months.
In the first nine months of 2023, passenger traffic at Frankfurt Airport (FRA) increased by 23.9 percent year-on-year to around 44.5 million travelers.
For the full year 2023, passenger numbers in Frankfurt are still expected to reach the middle half of the projected range of between at least 80 percent and up to 90 percent of pre-Covid levels seen in 2019, when some 70.6 million passengers traveled via FRA.
Fraport confirmed fiscal year 2023 financial guidance. Group EBITDA is projected to reach the upper half of the forecast range of between 1.04 billion euros and 1.20 billion euros. The Group result is expected in the upper half of the projected range of between some 300 million euros and 420 million euros.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
