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Copenhagen Airport EBITDA down 10% in 2011

2-Mar-2012 12:43 PM

Denmark’s Copenhagen Airport revenue up 3% - financial highlights for 12 months ended 31-Dec-2011:

  • Revenue: EUR409.4 million, +3.2% year-on-year;
    • Aeronautical: EUR246.9 million, +8.5%;
    • Concession: EUR110.5 million, +13.9%;
    • Rent: EUR28.9 million, -40.2%;
    • Sale of services and other: EUR23.1 million, -3.4%;
  • EBITDA: EUR238.8 million, -9.6%;
  • Net profit: EUR101.6 million, -16.8%;
  • Total assets: EUR1109 million, -4.5%;
  • Cash: EUR32.5 million, -71.0%;
  • Total liabilities: EUR595.3 million, +2.6%;
  • Passenger numbers: 22.7 million, +5.7%;
  • LCCs: +6.2%, LCCs had a 17.9% market share at the airport. [more – original PR]

*Based on the conversion rate at EUR1 = DKK7.43454

Copenhagen Airport: “The increase in passenger numbers is expected to have a positive impact on total revenue. Operating costs are expected to be higher than in 2011, primarily due to the expected increase in passenger numbers and cost inflation. Under the charge agreement, Copenhagen Airport must invest an average of DKK500 million annually, but expects to invest significant more in 2012. In addition, financial costs are expected to be lower in 2012 than in 2011. Overall, a higher total profit before tax, when excluding one-off items, is expected in 2012.” Source: Company statement, 01-Mar-2012.