The airport operator Fraport has to pull out the red pencil. Because of the effects of the pandemic, the group will have to accept a significant loss.

With a decline in sales by more than half, the previous year resulted in a net loss of 690 million euros, as the company Fraport announced on Tuesday. The deficit exceeded the forecasts of analysts, who had expected an average of just under 590 million euros. The number of passengers in Frankfurt fell by 73,4 percent to 18,8 million travelers compared to the previous year.

For the current year, the listed operating company of Frankfurt Airport expects a slight improvement in results - operationally and on balance, however, a loss is still expected. The shareholders will have to forego any profit distributions for 2021 as well. CEO Stefan Schulte nevertheless sees Frapport AG on the right path, also in view of the efficiency measures taken. “We will emerge stronger from this historic crisis,” said the manager. 

In the current year, Fraport is expecting a passenger volume of less than 20 to 25 million after 18,8 million in the previous year. Group sales are expected to reach 2 billion euros. Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be between 300 and 450 million euros, EBIT is expected to be “slightly negative”, and consolidated earnings are expected to be “negative”.