Copenhagen Airport EBITDA up 12% in 1H2012, maintains forecast

Denmark's Copenhagen Airport revenue up 6% - financial highlights for six months ended 30-Jun-2012:

• Revenue: DKK1683 million (EUR226.4 million), +6.0% year-on-year;
  • Aeronautical: DKK925.1 million (EUR124.4 million), +6.1%;
    • Passenger revenue: DKK424.9 million (EUR57.2 million), +8.6%;
    • Security: DKK211.5 million (EUR28.4 million), +7.6%;
    • Take-off revenue: DKK188.0 million (EUR25.3 million), -1.0%;
  • Non-aeronautical: DKK744.0 million (EUR100.1 million), +5.4%;
    • Concession: DKK476.9 million (EUR64.1 million), +9.5%;
• EBITDA: DKK899 million (EUR120.9 million), +11.8%;
• Net profit: DKK395 million (EUR53.1 million), +22.3%;
• Passenger numbers: 11.3 million, +4.2%;
• Total assets: DKK8984 million (EUR1208 million), +0.4% when compared to period ended 31-Dec-2011;
• Cash: DKK156.4 million (EUR21.0 million), -54.9% when compared to period ended 31-Dec-2011;
• Total liabilities: DKK6108 million (EUR821.5 million), +1.3% when compared to period ended 31-Dec-2011. [more - original PR]

*Based on the average conversion rate at EUR1 = DKK7.4345 for the period

Copenhagen Airport: "Based on the expected traffic programme 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 forecast is retained despite recent airline bankruptcies. The increase in passenger numbers is expected to have a positive impact on total revenue. Overall, profit before tax is expected to be higher than in 2011, when excluding one-off items." Source: Company statement, 14-Aug-2012.