Fraport Executive Board Wants to Raise 2010 Dividend to 1.25 EurosBy Fraport Ag, PRNE
Monday, January 24, 2011
Results Improve Noticeably - Release of Provisions
FRANKFURT, Germany, January 25, 2011 - Fraport AG's executive board will recommend to the supervisory
board that the 2010 dividend be raised from EUR1.15 to EUR1.25 for the annual
general meeting (AGM) on June 1, 2011. Thus, this reflects the overall
positive development, which was already evidenced in the company's published
third quarter figures. After tax profit will improve for full year 2010,
increasing to about EUR270 million from EUR152.0 million in 2009.
The increase in after tax result includes EUR80 million
received from the release of provisions - in connection with an audit for
1999 to 2002. Fraport received the corresponding tax assessment today. The
tax treatment of the Group's Manila engagement was an essential part of the
As the executive board announced, the release of provisions
adds to the overall picture of strengthening profitability for the current
business year. For example, traffic volumes at Frankfurt Airport (FRA) have
recovered noticeably. If flight operations had not been reduced due to severe
winter weather, the pilot strike, and the shutdown of European airspace
during the multi-day ash cloud crisis, then FRA would have recorded well over
54 million passengers in 2010 - corresponding to an increase
of more than six percent - and a new record figure would have been reached.
With 2.23 million metric tons, FRA already registered its highest airfreight
throughput last year.
During the next few years, Fraport's executive board expects
ongoing air traffic growth at the company's Frankfurt Airport home base.
Despite the frosty December period, construction of the new Runway Northwest
is fully on schedule for inauguration this October at the beginning of the
Winter Timetable 2011/2012. Thus, FRA's future competitiveness and economic
prosperity of the Frankfurt/Rhine-Main region will be secured sustainably. At
the same, the Group's external business is enjoying a steady upsurge. Fraport
AG's international investments now account for 20 percent of total revenue
but generate some 30 percent of the company's EBITDA (earnings before
interest, tax, depreciation and amortization).
"All of this is proof positive that Fraport AG is well on
track and excellently positioned to master the challenges ahead," stated
Fraport executive board chairman Dr. Stefan Schulte.
The dividend increase has to be approved by Fraport's
supervisory board and later by the AGM on June 1, 2011. Preliminary figures
for the 2010 financial year will be presented on March 11, 2011.
Note to Editors:
Further information about the Fraport Share and other financial aspects
of Fraport AG can be found under the "Investor Relations" section of the
company's Web site: www.fraport.com.
Print-quality photos of Frankfurt Airport and Fraport AG are
available free for downloading via the Internet at www.fraport.com (Menu:
select Press Center > then Photo Service). For TV news and information
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For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide Robert A. Payne, B.A.A. - Senior Mgr. International Press & PR International Spokesman, Press Office (Dept. UKM-PS), Corporate Communications, 60547 Frankfurt am Main, Germany Tel.: +49-69-690-78547; Fax: +49-69-690-55071; E-mail: firstname.lastname@example.org; Internet: www.fraport.com
For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide, Robert A. Payne, B.A.A. - Senior Mgr. International Press & PR, International Spokesman, Press Office (Dept. UKM-PS), Corporate Communications, 60547 Frankfurt am Main, Germany, Tel.: +49-69-690-78547; Fax: +49-69-690-55071; E-mail: r.payne at fraport.de
Tags: Frankfurt, Fraport AG, Germany, January 25