Fraport Group has a strong start to the 2024 financial year

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The Fraport Group has successfully started the 2024 financial year. In the first quarter (ending March 31), all key financial metrics posted double-digit growth rates. The main driver of this positive trend was the continued passenger growth at many airports in Fraport's global network.

Group sales rose by 16,3 percent to 890,2 million euros in the reporting period. The operating result (EBITDA) increased by 34,3 percent to 212,6 million euros. Even in the quarter with the lowest business volume, the group result (net profit) increased to 12,7 million euros in the 1st quarter of 2024 (compared to a loss of 32,6 million euros in the 1st quarter of 2023).

CEO of Fraport AG, Dr. Stefan Schulte, explained that Frankfurt Airport was affected by strikes on several days in the first quarter of 2024. Despite these adverse circumstances, the new financial year got off to a good start, primarily thanks to the growth at the group airports outside Germany.

In the first quarter, passenger numbers at Frankfurt Airport rose by 10,4 percent compared to the previous year to 12,5 million passengers. Positive outliers included Antalya Airport on the Turkish Riviera, the 14 Greek airports and Lima Airport in Peru, whose passenger numbers were well above pre-crisis levels in 2019.

The forecasts for the 2024 financial year remain optimistic despite the challenges in the first quarter. Fraport expects passenger numbers at Frankfurt Airport to be between 61 million and 65 million. The group's EBITDA is expected to be between approximately 1.260 million euros and 1.360 million euros, while net profit is forecast to be between approximately 435 million euros and 530 million euros.

Frankfurt am Main Airport (Photo: Jan Gruber).
Frankfurt am Main Airport (Photo: Jan Gruber).