Fraport AG Becomes First German Company to Publish Quarterly Financial Reports in XBRL Format
Frankfurt/Main, Germany (ots) - Fraport AG Frankfurt Airport Services Worldwide is the first German company to publish its quarterly financial reports in XBRL format, (eXtensible Business Reporting Language). The published data contains the balance sheet, items from the cash flow statement, as well as selected key financial indicators. This publication project is the result of close cooperation between Fraport and XBRL Deutschland e.V.
Fraport AG�'s quarterly report in XBRL format, as well as the underlying taxonomy, can be downloaded from the company�'s Web site at: www.fraport.de (see "Investor Relations" section, then click on the "Download Center"
Other participants involved with Fraport AG in this project included Datev eG, Deutsche Bundesbank, DVFA GmbH, PwC Deutsche Revision AG, PPA Gesellschaft für Finanzanalzse und Benchmarks mbH, and. S&N AG netbank solutions.
XBRL is a freely available electronic language for corporate financial reporting, i.e., for the exchange of information from and about companies, especially financial year-end information.
The XBRL format provides a standard for creating, distributing and publishing (eg., via the Internet), evaluating and 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
- Improving analytical quality; clearly described contents
- Reducing the rate of errors
- Improving transparency for analysts
- Achieving savings in printing costs
- Achieving savings in distribution costs
- Simplifying multiplication
Furthermore, XBRL has gained a high level of acceptance and is widely supported by standards organizations, government authorities, stock exchanges, etc. Thus, financial data can be published more timely and cost-effectively and, if required, quickly expanded in scope. In the future, previously unpublished data - such as from the area of Value Reporting - can be tabulated and issued. Further information in German and English about XBRL Deutschland e.V. can be found on the Internet at: www.xbrl.de.