Fraport AG Becomes First German Company to Publish Quarterly Financial Reports in XBRL Format
14.11.2003, 15:56
Frankfurt/Main, Germany 14. 11. 2003 (PROTEXT/ots) - FraportAG Frankfurt Airport Services Worldwide is the first Germancompany to publish its quarterly financial reports in XBRLformat, (eXtensible Business Reporting Language). The publisheddata contains the balance sheet, items from the cash flowstatement, as well as selected key financial indicators. Thispublication project is the result of close cooperation betweenFraport and XBRL Deutschland e.V.
Fraport AGs quarterly report in XBRL format, as well as theunderlying taxonomy, can be downloaded from the companys Website at: www.fraport.de (see Investor Relations section, thenclick on the Download Center).
Other participants involved with Fraport AG in this projectincluded Datev eG, Deutsche Bundesbank, DVFA GmbH, PwC DeutscheRevision AG, PPA Gesellschaft für Finanzanalzse und BenchmarksmbH, and. S&N AG netbank solutions.
XBRL is a freely available electronic language for corporatefinancial reporting, i.e., for the exchange of information fromand about companies, especially financial year-end information.
The XBRL format provides a standard for creating,distributing and publishing (eg., via the Internet), evaluatingand comparing such information.
The advantages of issuing quarterly results in XBRL include:- Reducing time and costs involved in preparing information - Eliminating the need for additional data entry - Improvinganalytical quality; clearly described contents - Reducingthe rate of errors - Improving transparency for analysts - Achieving savings in printing costs - Achieving savingsin distribution costs - Simplifying multiplication
Furthermore, XBRL has gained a high level of acceptance andis widely supported by standards organizations, governmentauthorities, stock exchanges, etc. Thus, financial data can bepublished more timely and cost-effectively and, if required,quickly expanded in scope. In the future, previouslyunpublished data such as from the area of Value Reporting canbe tabulated and issued. Further information in German andEnglish about XBRL Deutschland e.V. can be found on theInternet at: www.xbrl.de.
ENDS For More Information, Please Contact: Fraport AGFrankfurt Airport Services Worldwide Attn: Robert A. PayneManager International Press 60547 Frankfurt am Main, GermanyTel.: +49 69 690 -78547 / Fax: +49 69 690 -60548 E-Mail:r.payne@fraport.de / Internet: www.fraport.com 1
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