CPH's continued growth creates economic development and growth in Denmark

Since this time last year, 40 new routes have opened of which 19 were to new destinations. According to a report by DAMVAD Analytics, the new passengers and routes have contributed to growth of around DKK 1.7 billion in Danish GDP. This growth in passenger numbers has led to the full-year profit outlook being upgraded.

Copenhagen Airport has had its busiest six months ever. A total of 13,704,859 passengers passed through the airport, an increase of 11.0% compared to the first six months of 2015.

In particular, international traffic grew strongly in the first half of the year; 11.2% more people travelled on long-haul intercontinental routes, while European traffic rose by 11.3%. Domestic traffic also grew solidly and was 7.0% above the level for the first six months of 2015.

"The significant growth shows the improved connectivity of Denmark not only for Danes but also for foreign tourists and business travellers. This is a key area of focus for CPH, and we're delighted that our strategy to improve Denmark's connectivity is bearing fruit," says Thomas Woldbye, CEO of Copenhagen Airports A/S.

"In recent years, we've been working hard to attract new routes to Copenhagen. New routes are opening up the world for Danes, but they're also very much helping to attract people from the rest of the world. Tourists and business travellers are helping to increase earnings in the tourist industry throughout Denmark and thus helping to create growth and new jobs in Denmark," says Thomas Woldbye.

Since this time last year, 40 new routes out of Copenhagen have opened - on the one hand, new routes to destinations such as Boston, Sofia, Skopje and Yekaterinburg, and, on the other hand, new airlines flying to existing destinations such as Rome, Madrid and Istanbul. There are also a large number of new summer routes.

More routes and departures mean more travellers coming to Denmark. Thomas Woldbye emphasises that an analysis by CPH shows that the number of international tourists travelling to Copenhagen increased by 27.2% in the first quarter of 2016 compared to 2015.

DKK 1.7 billion extra for the economy
DAMVAD Analytics has calculated that the growth in Copenhagen Airport from 2005 to 2015 has led to a significant contribution to the Danish economy, increasing gross domestic product (GDP) by around DKK 31 billion.

Alone in the past six months, growth at Copenhagen Airport has generated growth and jobs in the Danish economy valued at around DKK 1.7 billion.

"DKK 1.7 billion is a very significant extra contribution to Denmark's prosperity by Copenhagen Airport. This is why we're focused on getting even more routes and, consequently, more connectivity and growth, benefiting all of Denmark," says Thomas Woldbye.

The analysis of Copenhagen Airport's contribution to the economy was carried out earlier this year by DAMVAD Analytics, based on a comprehensive analysis of 125 European airports by InterVISTAS.

A solid half-year result

The big increase in the number of passengers also helped to ensure Copenhagen Airports A/S (CPH) a solid half-year result. Revenue grew by 10.1%, increasing at the same level as passenger growth, partly as a result of a flat development in charges in real terms. There has been heavy investment in the security area, but CPH has maintained its focus on efficiency improvements in other areas, reducing its costs per passenger by 3.9% compared to the same period last year. This has resulted in an increase in profit before tax excluding one-off items of 20.1%, or DKK 125.5 million, to DKK 750.3 million.

Given the significant growth at Copenhagen Airport, the full-year outlook for profit before tax excluding one-off items has been upgraded from DKK 1,450-1,550 million to DKK 1,550-1,650 million.

High level of capital expenditure maintained

The high level of growth and value creation means that CPH has maintained a very high level of capital expenditure, investing DKK 372.2 million in the first half of 2016. The investment has centred on expansion of capacity at the central security checkpoint (CSC), where CPH is investing more than DKK 250 million, renovation of the western landside apron, development of wide-body bus facilities, renovation of aircraft stands and various maintenance improvement measures.

"We're still investing at a very high level. Our strategy is to expand and develop the airport in line with the increase in passenger numbers. In the spring, we began a major expansion of our central security checkpoint at a cost of more than DKK 250 million, which will double the area and increase the number of security lanes when it is finished next year," says Thomas Woldbye.

Improved efficiency despite heightened security requirements

CPH maintains a strong focus on efficiency improvements, despite the fact that increased traffic and increasingly stringent regulations have entailed a significant rise in security-related staff costs. CPH has employed 92 staff in the past year, a third of which are new positions due to growth in passenger numbers.

In June 2016, Copenhagen Airport was named the most efficient in Europe for the 11th time in 13 years by the Air Transport Research Society (ATRS), an independent body of researchers and experts in airport operations. ATRS assessed productivity, costs, quality and efficiency at more than 200 airports worldwide.

"We're working hard every day to run an efficient airport that is attractive to passengers and airlines. Our goal is to make it easier for passengers to pass through the airport and, not least, to make it optimal for airlines to do business here at the airport. Both these aspects are largely a matter of using digital solutions, automating and utilising the large amounts of data," explains Thomas Woldbye.