German airport operator Fraport's 9-month profit drops nearly 30% on higher costs (updated)

Deutsche Lufthansa AG

Wed 07:01

Adds graphic, free cash flow details and share move
Nov 4 (Reuters) - German airport operator Fraport FRAG.DE reported a nearly 30% year-on-year fall in nine-month net profit on Wednesday, driven by higher interest expenses and increased depreciation and amortization from completed expansion projects in Lima and Frankfurt. 
The company, which operates Germany's busiest airport in Frankfurt, has been grappling with recurring strikes at main carrier Lufthansa LHAG.DE, soaring jet fuel prices and capacity reductions linked to the US-Iran war.
Fraport posted a net profit of €314.5 million ($353.18 million) for the January-September period, compared to €442 million in 2025
However, free cash flow in the third quarter rose by around 25% year-on-year to €461 million
Growth at its international airports partly offset flat passenger traffic at Frankfurt Airport, where volumes fell 0.2% in the first nine months
"In view of the strength of our international business outside Germany, we are maintaining our financial outlook for the full year," CEO Stefan Schulte said in a statement
The operator confirmed its full-year core earnings forecast of up to €1.5 billion and held expectations for net profit at between €300 million and €400 million
Shares, which have lost around 20% of their value since end-February, were flat at 0832 GMT. 
($1 = 0.8905 euros)

 (Reporting by Aleksandra Kret and Danny Callaghan; Editing by Rashmi Aich and Janane Venkatraman)
 ((Aleksandra.Kret@thomsonreuters.com))