Fraport posts 4.7% retail revenue increase

Lorna Strickland

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The group vows to develop its shopping portfolio as retail revenue grows despite a drop in income per passenger

German airport group Fraport has posted a 4.7% retail revenue increase for the third quarter. The revenue was driven by rental income from airport shops and real estate as well as parking fees. Overall revenue for the third quarter stands at Eu95.3m ($120.6m) while earnings before interest and tax dropped 15% to Eu47.7m ($60.4m).

Retail income per passenger fell eight cents ($0.1) to Eu2.11 ($2.7) due to the weaker dollar and the fact that some shops were closed temporarily during construction work. Fraport said more stringent security requirements for flights to the US and UK had left passengers with less time to shop.

A Fraport spokesperson said: "We intend to continue expanding and improving our retail portfolio systematically. Our long-term earnings growth will therefore be generated mainly in the retail and properties segment. We are currently working intensively on finding new ways to shorten the time taken to complete the checks''.