Fraport: top end of full-year guidance range now expected

(CercleFinance.com) - Fraport maintained its outlook for 2018 after the German airport operator closed the first six months of the year with a 13% rise in revenue to 1.
53 billion euros.

EBITDA increased by 9.8% year-on-year to 461.3 million euros, a figure that was 2% below the consensus.

The group said the performance was dampened by traffic-related higher personnel costs for ground handling and security services staff at its Frankfurt airport.

Following the expected sale of Fraport's stake in Hanover Airport, Fraport said it expected the divestiture to contribute some 25 million euros to EBITDA.

Excluding the effects from the divestiture of Hanover, Fraport maintained its outlook for key financial figures and expects them to reach the upper levels of the margin forecast provided at the beginning of the year.

The Fraport share was down 5.3% at 79.2 euros after this publication.

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