Retail boosts Fraport results in 2007

Nicole Mezzasalma

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The airport group’s retail revenue was up by 7.9% compared with 2006, according to its preliminary results

German airport group Fraport has announced its preliminary results for 2007. Overall revenue grew 8.6% to €2.33bn ($3.54bn) compared with the previous year while EBITDA rose slightly (up 0.4%) to reach €580.5m ($884.1m). The company’s Retail & Properties division recorded a rise of 22.4% in revenue to €471.4m ($718m)—revenue from retail alone was up by 7.9% to €145.8m ($222.1m), €85.1m ($129.5m) of which was spent on airport shopping. According to Fraport, “retail and parking developed positively” in 2007, with average passenger spend increasing 5.1% to €2.69 ($4.09).

Fraport executive board chairman Wilhelm Bender highlighted the zoning approval for the expansion of Frankfurt airport, announced in December, as a milestone in the company’s plans to increase the airport’s capacity and competitiveness in the long term. Bender also said the airport authority will continue to look for “attractive new opportunities” around the world, particularly in India and China. Fraport is already present in the Indian capital of Delhi and in Xi’an in central China.