Added to YB: 2024-08-12
Pitch date: 2024-08-11
FRA.DE [bullish]
Fraport AG
+52.02%
current return
Author Info
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Company Info
Fraport AG owns and operates airports in Germany, rest of Europe, Asia, and the United States. It primarily focuses on the operation of Frankfurt Main airport.
Market Cap
EUR 6.4B
Pitch Price
EUR 45.06
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.44
P/E
13.71
EV/Sales
3.48
Sector
Transportation Infrastructure
Category
value
Defensive Holding #1 - Fraport
Fraport AG (FRA.DE): Global airport operator at 45% discount to 2019. Strong revenue/EBITDA growth despite headwinds. Capex cycle ending, FCF to improve from 2025. Terminal expansions in Frankfurt/Lima to boost capacity. 10x EV/EBITDA, leverage 6.5x targeting 5x. Dividend reinstatement likely as goals met. H1 results: Revenue +12%, EBITDA +18%, Net +89% YoY.
Read full article (10 min)