Copenhagen Airport EBITDA up 3% in 1H2013; FY pax and EBITDA expected to be higher

Denmark's Copenhagen Airport revenue up 3% - financial highlights for six months ended 30-Jun-2013:

• Revenue: DKK1740 million (EUR233.3 million), +3.4%;
• • Aeronautical: DKK983.1 million (EUR131.8 million), +6.3%;
  • • Take-off: DKK192.7 million (EUR25.8 million), +2.5%;
    • Passenger: DKK455.6 million (EUR61.1 million), +7.2%;
    • Security: DKK227 million (EUR30.4 million), +7.3%;
    • Handling: EUR79.5 million (EUR10.7 million), +7.4%;
  • Non-aeronautical: DKK756.4 million (EUR101.4 million), +1.7%;
  • • Concession: DKK480.8 million (EUR64.5 million), +0.8%;
    • • Shopping centre: DKK313.3 million (EUR42.0 million), +0.9%;
      • Parking: DKK145.8 million (EUR19.6 million), +3.0%;
    • Rent: DKK91.3 million (EUR12.2 million), -4.0%;
    • • Rent from premises: DKK62.5 million (EUR8.4 million), -5.8%;
      • Rent from land: DKK24.8 million (EUR3.3 million), +1.1%;
• EBITDA: DKK922 million (EUR123.6 million), +2.6%;
• Net profit: DKK455 million (EUR61.0 million), +15.2%;
• Total assets: DKK9669 million (EUR1297 million);
• Cash: DKK216.4 million (EUR29.0 million);
• Total liabilities: DKK6817 million (EUR914.2 million). [more - original PR]

*Based on the average conversion rate at DKK1 = EUR7.4572

Copenhagen Airport: "With the anticipated traffic programme for the rest of 2013, we expect to see an increase in the total number of passengers. A positive full-year effect in 2013 is expected due to the many new routes opened in 2012. In addition, traffic in 2013 is expected to be favourably affected by the full-year effect of the routes restored after the bankruptcy of Cimber Sterling in 2012. Traffic in 2013 could, however, be adversely affected by continuing financial uncertainty in the Eurozone and by any closure of routes due to airline cutbacks. The increase in passenger numbers is expected to have a favourable impact on revenue. Overall, a slightly lower profit before tax is expected for 2013 compared to 2012, when excluding one-off items. Conversely, operating profit before depreciation is projected to be higher in 2013 than in 2012, when excluding one-off items." Source: Company statement, 13-Aug-2013.