On Tuesday, airport operator Fraport reported a 34% increase in first-quarter operating income before non-recurring items, in line with analysts' expectations.

The German group reported earnings before interest, taxes, depreciation and amortization (Ebitda) of 212.6 million euros for the period from January to March.

'This figure includes 28 million euros in non-recurring items, which means that this result is in line with the consensus target of 188 million euros', said analysts at Stifel.

Quarterly sales rose by 16.3% to 890.2 million euros, on the back of a 10.4% increase in passenger traffic to 12.5 million at Frankfurt airport.

Fraport - which expects to welcome a total of 61 to 65 million passengers to Frankfurt this year - still says it expects annual Ebitda of between €1.26 and €1.36 billion.

Following this unsurprising publication, Fraport shares were down 0.8% on Tuesday on the Frankfurt Stock Exchange.

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