Fraport forecasts growth, expands international presence

Today, airport operator Fraport AG hosted its annual meeting, in which it reflected on the 2017 year, its current expansion projects, and its forecasted growth for 2018.

The group’s largest property, Frankfurt International Airport (FRA), is undergoing the construction of a third terminal, which is currently awaiting a permit from the city of Frankfurt. The company, however,  said the project is on track to be completed ahead of schedule.

Fraport also commented that its increase in 2017 revenue is partially attributable to its new presence in Greece and Brazil at Fortaleza (FOR) and Porto Alegre (POA) airports, which brought in €44.3 million and €30.8 million, respectively.

While Fraport’s earnings before interest, depreciation, taxes and amortization (EBIDTA) were down by about 4 percent in 2017, due to additional costs incurred over the year, the company projects that the figure is expected to increase from just over €1 billion to somewhere between €1.08 and €1.11 billion by the end of 2018, according to the group’s statement.