FPRUF - Fraport AG's Group EBITDA turns positive in Q3

Fraport AG (FPRUF): Q3 Net profit of -€305.8M.Group EBITDA of €29.2M.For FY2020, Frankfurt Airport's passenger decline expected to exceed 70%; Group revenue is expected to drop by up to 60% Y/Y; Group EBITDA to decline sharply.CEO Schulte: "We currently expect Frankfurt Airport's passenger traffic in 2021 to reach only 35 to 45 percent of the 2019 level, in particular due to the anticipated very weak first quarter 2021. Even in 2023/24, passenger figures will probably still only reach 80 to 90 percent of pre-crisis levels. This means we have a very long journey ahead of us. However, we are confident that the recently launched countermeasures will enable Fraport to be successfully realigned on its long term path of sustainable growth, once again."Press Release

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Fraport AG's Group EBITDA turns positive in Q3