Copenhagen Airport EBITDA up 10% in 1Q2012, pax growth expected

Denmark's Copenhagen Airport revenue up 7% - financial highlights for three months ended 31-Mar-2012:

• Revenue: DKK768.3 million (EUR103.3 million), +6.5% year-on-year;
  • Aeronautical: DKK414 million (EUR55.7 million), +7.4%;
  • Non-aeronautical: DKK349.0 million (EUR46.9 million), +5.4%;
  • Concession: DKK222.2 million (EUR29.9 million), +10.5%;
    • Rent: DKK46.7 million (EUR6.3 million), +5.0%;
    • Sales of services: DKK80.1 million (EUR10.8 million), -6.6%;
• EBITDA: DKK374.9 million (EUR50.4 million), +9.6%;
• Net profit: DKK143 million (EUR19.2 million), +22.2%;
• Capital expenditure: DKK166.0 million (EUR22.3 million), +18.4% when compared to capital expenditure in 2011;
• Total assets: DKK9177 million (EUR1234 million), +2.6% when compared to period ended 31-Dec-2011;
• Cash: DKK537.9 million (EUR72.4 million), +55.2% when compared to period ended 31-Dec-2011;
• Total liabilities: DKK6525 million (EUR877.7 million), +8.2% when compared to period ended 31-Dec-2011. [more - original PR]

*Based on the average conversion rate at EUR1 = DKK7.4343

Copenhagen Airport: "Based on the expected traffic program for 2012, the total number of passengers is expected to increase. Traffic, however, could be adversely impacted by the continuing economic uncertainty in the Eurozone and any closure of routes due to airline reductions. The increase in passenger numbers is expected to have a positive impact on total revenue. Overall, a higher total profit before tax, when excluding one-off items, is expected for 2012. Under the charges agreement, CPH must invest an average of DKK500 million annually, but expects to invest significantly more in 2012. CPH will also be investing in other commercial projects for the benefit of airlines and passengers." Source: Company statement. Source: 08-May-2012.