OREANDA-NEWS. In the first quarter of 2015, Fraport AG recorded noticeable growth in Group revenue, rising by 10.8 percent to EUR 575.9 million. Factors contributing to this result included growth in traffic and fees, higher proceeds from the retail business, consolidation of two new Group subsidiaries, as well as currency effects. The Group's underlying revenue increased by 10.6 percent to EUR 572.3 million, while the operating result or EBITDA (earnings before interest, tax, depreciation and amortization) improved by EUR 18.6 million or 13.8 percent to EUR 153.1 million. The Group result advanced EUR 4.6 million year-on-year to EUR 10.6 million.

At its Frankfurt Airport (FRA) home base, Fraport AG recorded a rise in passenger figures in the first three months of 2015. Despite a number of strike and weather-related flight cancellations, passenger traffic at FRA grew by 2.7 percent to more than 12.5 million passengers. The cargo (airfreight + airmail) tonnage dropped by 2.4 percent year-on-year to around 500,000 metric tons. Passenger and cargo traffic at the Group's airports outside Frankfurt also largely improved.

In addition to rising passenger traffic at its international airports, Fraport's external business contributed to revenue growth due mainly to the first-time consolidation of two new Group subsidiaries - AMU Holdings Inc. (Airmall) and Aerodrom Ljubljana - which were acquired in the second half of 2014. A currency effect resulting from the conversion of revenues gained at the Lima Airport subsidiary, from U.S. dollars into the Group's standard currency (euros), also had a positive effect. With cash outflow for investments remaining almost level, Fraport's free cash flow improved by EUR 34.1 million to EUR 65.2 million.

Commenting on the company's growth in the first three months of 2015, Fraport AG's executive board chairman Dr. Stefan Schulte said: "Our positive first quarter results were supported by ongoing growth in the retail segment and by strong performance from our international business. For the full year, we continue to expect passenger traffic to increase. At Frankfurt Airport, this will lead to higher revenue particularly in the Aviation and the Retail & Real Estate business segments. These figures provide confirmation of our outlook for the entire 2015 business year."