Germany's Fraport 9M revenue rises on international business growth

Overview

• Germany airport operator's nine-month revenue grew 3.8% yr/yr, driven by international business

• Net profit fell nearly 29% yr/yr, mainly due to higher interest and depreciation

• Group passenger numbers exceeded pre-pandemic levels, rising 1.7% yr/yr

Outlook

• Fraport maintains full-year 2026 financial outlook

• Fraport sees 2026 Group EBITDA up to EUR 1.5 bln

• Company expects 2026 Group result to fall to EUR 300 mln-EUR 400 mln

Result Drivers

• INTERNATIONAL BUSINESS - Co said operations outside Germany drove revenue and EBITDA growth, with international business accounting for more than half of Q3 EBITDA

• STRONG INTERNATIONAL AIRPORT PERFORMANCE - Passenger traffic at Greek, Ljubljana, Brazil, Bulgaria and Lima airports rose, setting new records or significant increases

• FRANKFURT CHALLENGES - Co said passenger numbers in Frankfurt stagnated due to high regulatory costs and fewer flights after CityLine shutdown

Company press release: Full Story

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the airport operators & services peer group is "buy"

• Wall Street's median 12-month price target for Fraport AG is €75.50, about 14.3% above its November 3 closing price of €66.05

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)