Fraport FY24 Results Climb; Sees Flat Or Weak Group Profit, Higher EBITDA In FY25

(RTTNews) - German airport operator Fraport Group (FRA.DE, 0O1R.L, FPRUF.PK) reported Tuesday higher profit in its fiscal 2024, driven by increased revenues.

Further, the Supervisory Board and the Executive Board have again decided not to propose a dividend to the 2025 Annual General Meeting due to the continuing high level of Group debt. Instead, the company would allocate the profit earmarked for distribution to revenue reserves.

Looking ahead, for fiscal 2025, Fraport projects Group Profit at previous year's level or slightly below, while EBITDA is expected to grow at moderate single-digit percentage.

The company expects to see only moderate traffic growth in Frankfurt this year due to the continued delays in delivery from aircraft manufacturers, which are particularly affecting its main customer, Lufthansa.

By 2030, the company projects EBITDA to reach 2 billion euros, and Group-wide passenger numbers at fully consolidated sites to reach 187 million.

In fiscal 2024, Group result climbed 16.6 percent to 501.9 million euros from last year's 430.5 million euros. Basic earnings per share grew 14.6 percent to 4.88 euros from prior year's 4.26 euros.

EBITDA, a key earnings metric, grew 8.1 percent to 1.30 billion euros from 1.20 billion euros a year ago.

Revenue increased 10.7 percent to 4.43 billion euros from last year's 4 billion euros. Revenue adjusted for IFRIC 12 was 3.89 billion euros, up 11.7 percent from the previous year.

Despite challenges, the group-wide traffic growth was driven especially by developments at the locations in Lima, Greece, Antalya, and also Frankfurt Airport or FRA, the firm noted.

The Group-wide passenger numbers at fully consolidated sites rose by 2.9 percent year on year to 136.4 million.

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