Airport operator, Fraport AG said on Wednesday its 1,479 shareholders will receive €1.15 per share and see a sustainable recovery trend by 2010 despite revenue decline and difficulties in the current worldwide economic crisis.
Its fiscal 2008 revenue declined by 9.8 percent to €2.1 billion from €2.3 billion a year earlier. Its EBITDA reached a new record level, up 3.5 percent year-on-year to €600.7 million from €580.5 million and group profits fell 15.7 percent to €180.2 million from €213.7 million in 2007.
Recently, the company posted its fiscal 2009 first quarter profit down of 25.4 percent to €22.3 million from €29.9 million a year ago. Revenue fell of 14.4 percent to €452.0 million compared with €528.2 million is the same period a year earlier.
However, in long terms, following the current economic slump, the global aviation industry will return to its long-term growth path and 2009 outlook will remain profitable, even though it expects sales to drop year-on-year due to lower traffic figures and the sale of its ICTS Europe security unit and Frankfurt-Hahn Airport.
Every time, the air transportation industry has reemerged strongly on its globally oriented long-term growth path, said Executive board chairman Prof. Dr. Wilhelm Bender No one doubts that globalization and internationalization of the division of labor will further intensify in the coming years.
That's why the world economy needs an efficient global air transportation industry that links the numerous growth centers of the world together, he said.
Its executive board and supervisory board both received a 99.98 percent vote from shareholders during the Eight Annual General Meeting.
Share of Fraport rose €0.70 or 2.44% at €29.40 in the afternoon trading.