Fraport AG Frankfurt Airport Services Worldwide

  • WKN: 577330
  • ISIN: DE0005773303
  • Land: Germany

Nachricht vom 06.08.2018 | 14:33

Fraport AG Frankfurt Airport Services Worldwide: Disposal of Flughafen Hannover-Langenhagen GmbH shares

Fraport AG Frankfurt Airport Services Worldwide / Key word(s): Investment/Forecast
Fraport AG Frankfurt Airport Services Worldwide: Disposal of Flughafen Hannover-Langenhagen GmbH shares

06-Aug-2018 / 14:33 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Frankfurt, August 06, 2018, 1.59 PM CEST

Release of an ad hoc announcement according to Section 17 MAR

Today, August 06, 2018, Fraport AG Frankfurt Airport Services Worldwide (Fraport AG) signed an agreement to sell its shares in Flughafen Hannover-Langenhagen GmbH (FHLG) to iCON Flughafen GmbH (iCON) - a member of the iCON Infrastructure Group. According to this, Fraport AG will sell its entire 30 percent share for a price of 109.2 million Euros to iCON. FHLG is the operating company of Hanover Airport. Fraport AG acquired its shares in FHLG in two steps in 1998 and 2003.

The closing of the transaction is still dependent on the contractually agreed pre-emption rights held by the co-shareholders: the City of Hanover and the Hannoversche Beteiligungsgesellschaft mbH - a wholly-owned company belonging to the State of Lower Saxony.

Fraport AG currently expects the transaction to be concluded during the next two months.

Based on the current book value and the expectation that both co-shareholders will not exercise their pre-emption rights, Fraport AG expects the transaction to contribute about 85 million Euros to the Group EBT. From this amount approximately 25 million Euros will impact the Group EBITDA and EBIT of the current fiscal year. The Group's financial result will be positively influenced by about 60 million Euros. After deduction of related income tax liabilities, the transaction will positively impact the Group result by about 77 million Euros.

As a result of the transaction, Fraport AG's executive board expects to exceed the guidance ranges  for the 2018 full year Group's EBITDA, EBIT, EBT and Group Result set at the beginning of year. The cash inflow from the completion of the transaction will reduce the Group's net debt.
 

Contact: Christoph Nanke, Head of Finance and Investor Relations, Phone +49 (0)69 690 74840, Fax: +49 (0)69 690 74843, E-Mail: c.nanke@fraport.de

Information regarding forward looking statements: This ad hoc announcement contains forward looking statements related to the business, financial performance, and results of Fraport Group. These statements are based on assumptions and projections, which are based on currently available information and estimates. They are subject to a number of risks and uncertainties. The actual performance, therefore, may differ materially from what has been expected.

Beyond disclosure requirements stipulated by law, Fraport does not undertake any obligation to update forward-looking statements.

Information regarding financial key figures: Information regarding the calculation of financial key figures can be found in the 2017 Fraport Annual Report. The Annual Report can be found under http://www.fraport.com/en/investor-relations/events-und-publications/publications.html


06-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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