Fraport : Q1 results below our estimates due to lower retail
>Lower retail spend per pax, impacted by refurbishment, weighs on the results; international strong - Fraport’s Q1 2023 results were slightly below our estimates once adjusted for one-offs: EBITDA 3% or € 4m below our numbers. The better performance in International activities was offset by a miss in the retail activities, with revenue per passenger decreasing by 6% y-o-y (due to a temporary store refurbishment) and higher opex in the ground handling division. Moreove...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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