Fraport shares down 7%, analyst flags high leverage worries, GS cut

Fraport Frankfurt Airport Services Worldwide AG

18/11/2025 13:40

** Fraport's FRAG.DE shares are down around 7% and on track for their worst day since March 2023, with an analyst pointing to leverage risks

** Mwb research analyst Oliver Wojahn points to concerns about Fraport's high financial leverage, magnifying the impact of economic fluctuations to which Fraport is highly exposed

** Furthermore, he says the fall in shares was exacerbated by a Goldman Sachs downgrade

** GS cuts its rating on Fraport to "neutral" from "buy," citing concerns of higher than expected capital spending and lower free cash flow

** The broker says it is concerned about a willingness to begin Terminal 2 renovations sooner than needed

** GS also points to an above average share performance versus peers in the European transport and infrastructure sector

** Fraport shares are the worst performer of the German midcap .MDAXI index

 (Reporting by Simon Ferdinand Eibach and Stefanie Geiger)

 ((Simonferdinand.eibach@thomsonreuters.com))