Fraport : Mixed 2023, short and medium-term guidance in line with our estimates
>High quality EBITDA despite being a touch below at Frankfurt - Fraport’s Q4 2023 results, once adjusted for one-offs, were slightly below our estimates, but mainly driven by a weaker performance at the real estate division and by slightly higher opex at the ground handling division: revenues at Frankfurt airport were € 583m vs € 590m estimated by ODDO BHF (€ 587m consensus), while EBITDA was 7% or € 11m below our numbers (-13% vs consensus). The positive note came f...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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