Adjusted operating result (EBITDA) remains slightly positive, backed by cost-saving measures – Company realigned to be leaner and more agile – CEO Schulte: "We're seeing the light at the end of the tunnel" – Long-term growth perspectives remain intact
FRANKFURT, Germany, March 16, 2021 /PRNewswire/ -- During fiscal year 2020 (ended Dec 31), the Covid-19 pandemic severely impacted financial performance of the Fraport airport company. Because of sharply falling passenger traffic, both at Frankfurt Airport and across the Group's airports worldwide, Group revenue declined by more than half in the reporting period. The Group result (net profit) dropped into negative territory for the first time in 20 years, reaching minus €690.4 million – despite extensive cost-saving measures.