Fraport achieves first quarter profit despite ‘crisis’

Fraport achieved a profit of EUR22.3 million in 1Q09 on sales of EUR452 million, a reduction of 14.4% year-on-year and with 7% less passengers and 23% less cargo than in the comparable period of 2008. Frankfurt International saw a revenue loss of EUR22.5 million but the Fraport Group now expects to be in the black also for the full year 2009 even though traffic will fall by 6-8%. [963 words]

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This report contains the following subheadings:

• Retail Revenue Exceeds EUR3 per Passenger
• Forecast for 2009 is Cautious
• CEO Bender expresses ‘confidence for the time after the crisis’

This report contains the following charts and tables:

• Fraport EBITDA margin growth vs EBIT margin growth: 1Q2008 to 1Q2009
• Frankfurt Airport passenger numbers growth vs cargo volume growth: May-2008 to Apr-2009