Fraport : FY 2021 results likely above estimates but few good surprises expected for 2022
>FY 2021 results should beat guidance - We are adjusting our 2021 estimates to factor in the reported traffic figures (-64.8% in Frankfurt vs 2019 of which -44.2% in December) as well as exceptional items communicated by the group (Covid compensation in Brazil of BRL 181.5m, i.e. € 26m). Over Q4, we therefore forecast sales growth of 74% vs Q4 2020, albeit still 27% below the 2019 level. Thanks to the cost-cutting measures in place, the Q4 EBITDA margin returned to 25...Fraport AG Frankfurt Airport Services Worldwide is an airport operator. Co. is divided into four segments: aviation, which includes airside and terminal management as well as corporate safety and security at the Frankfurt site; retail and real estate, which consists of retailing activities, parking facility and real estate management at Frankfurt Airport; ground handling, which comprises services dealing with passengers, aircraft and cargo; and external activities and services, which comprises Co.'s companies outside the Frankfurt site and auxiliary services in Frankfurt, including information technology and facility management in particular.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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