German firms TUI, E.ON, Fraport post mixed figures | Business| Economy and finance news from a German perspective | DW | 11.08.2010
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German firms TUI, E.ON, Fraport post mixed figures

German tourism company TUI has reported losses in its latest figures, echoing the results of the country's largest energy provider, E.ON. However, German airport operator Fraport fared better.

Two planes with the TUI symbol on the tails

TUI posted a loss but remained optimistic

Several significant German companies released their latest figures on Wednesday with mixed results. Tourism group TUI posted a net loss and airport operator Fraport posted growth, while energy giant E.ON saw its earnings slip.

TUI, which also deals in shipping and logistics with its unit Hapag Lloyd, said it received a boost from a pick-up in global trade, but nonetheless recorded a fiscal year third-quarter loss of 36.3 million euros ($47.4 million).

The Hanover-based company laid the blame firmly at the feet of weak leisure earnings that it says are typical for the industry in the period from April to the end of June.

TUI officials were upbeat about the results, however, pointing to the scale of its losses over the same period last year when the firm posted a net loss of 456.8 million euros.

E.ON energized

Germany's largest power company, E.ON, also reported mixed quarterly results with first-half operating profit up 11 percent after jumps in gas and electricity sales, which rose 6.7 percent to 44.3 billion euros.

The Duesseldorf-based firm said however, that its first-half net income fell by 7 percent to 4.17 billion euros. It said higher interest expenses and taxes led to a net profit fall of 9 percent to 3.91 billion euros.

E.ON is among the major public utility companies in Europe and the world's largest investor-owned energy service provider.

Sky's the limit

Frankfurt airport by night

Frankfurt Airport saw record traffic in July

German transport company and airport operator Fraport fared much better than its corporate counterparts, continuing a strong recovery to post record figures for the month of July.

At Frankfurt Airport, Fraport's largest aviation hub, passenger numbers grew by 7.8 percent to its highest volume on record - nearly 5.3 million people - for the month. July 31 saw a record 183,663 passengers check in.

Across all its subsidiary airports, Fraport recorded growth of 11.7 percent, corresponding to 10.5 million air passengers.

Author: Darren Mara (AFP/AP/dpa)
Editor: Martin Kuebler

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