Fraport delivered what we had expected. Revenue increased marginally by 1.4% to €735m in Q3 but was still down by 0.4% to €1.96bn after 9M. 9M EBIT and net earnings were down by 3.2% to €430m and 11% to €217m. The two profit numbers are both €1m lower than expected whereas revenue is €10m higher. Management’s full-year profit range guidance (which includes the net €200m gain for the Manila project and €35m for the reduction of the stake in St Pete
03 Nov 2016
9M numbers as expected, but tough times might come
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9M numbers as expected, but tough times might come
Fraport AG (FRA:WBO) | 0 0 0.7% | Mkt Cap: 8,167m
- Published:
03 Nov 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Fraport delivered what we had expected. Revenue increased marginally by 1.4% to €735m in Q3 but was still down by 0.4% to €1.96bn after 9M. 9M EBIT and net earnings were down by 3.2% to €430m and 11% to €217m. The two profit numbers are both €1m lower than expected whereas revenue is €10m higher. Management’s full-year profit range guidance (which includes the net €200m gain for the Manila project and €35m for the reduction of the stake in St Pete