Fraport Reports Greater Profits Off its German Airports

FRANKFURT, Germany_German airport operator Fraport AG said Wednesday it saw a slight increase in first-quarter sales and net profits despite a fall in passenger numbers.

Sales rose 1.4 percent to €487.4 million (US$618.85 million) in the first quarter, compared with €480.9 million over the same three months a year ago. Net profit rose 0.4 percent to €27.5 million (US$34.92 million) from €27.4 million in the first quarter of 2005, Fraport said.

Earnings before interest, taxes, depreciation and amortization rose 2.2 percent to €109.5 million (US$139.03 million) from €107.1 million over the same period last year, Fraport said.

Fraport runs six airports including Frankfurt international, continental Europe's busiest.

The company said overall it saw 14.6 million total passengers in the first quarter, down 6.8 percent from 15.7 million the year before. It attributed the decline largely to weather effects at Frankfurt.