Copenhagen Airport EBITDA up 50%, forecasts pax and profit growth before one-offs in 2013
Denmark's Copenhagen Airport revenue up 5% - financial highlights for 12 months ended 31-Dec-2012:
- Revenue: DKK3516 million (EUR472.3 million), +5.1% year-on-year;
- Aeronautical: DKK1932 million (EUR259.5 million), +5.2%;
- Take-off: DKK378.2 million (EUR50.8 million), -2.1%;
- Passenger: DKK898.9 million (EUR120.8 million), +7.4%;
- Security: DKK444.0 million (EUR59.7 million), +6.7%;
- Handling: DKK155.3 million (EUR20.9 million), +8.4%;
- Non-aeronautical: DKK1563 million (EUR210.0 million), +5.3%;
- Concession: DKK1020 million (EUR137.0 million), +8.1%;
- Shopping centre: DKK683.0 million (EUR91.8 million), +11.0%;
- Parking: DKK287.4 million (EUR38.6 million), +4.5%;
- Concession: DKK1020 million (EUR137.0 million), +8.1%;
- Rent: DKK189.8 million (EUR25.5 million), +4.5%;
- Sales of services: DKK353.1 million (EUR47.4 million), -1.6%;
- Aeronautical: DKK1932 million (EUR259.5 million), +5.2%;
- EBITDA: DKK2668 million (358.4 million), +50.3%;
- Net profit: DKK1615 million (EUR217.0 million), +114%;
- Passenger numbers: 23.3 million, +2.7%;
- Transfer: +7.3%;
- Total assets: DKK10,012 million (EUR1345 million), +11.9%;
- Cash: DKK832.8 million (EUR111.9 million), +140%;
- Total liabilities: DKK6410 million (EUR861.1 million), +6.3%. [more - original PR]
*Based on the average conversion rate at EUR1 - DKK7.4437
Copenhagen Airport: "With the anticipated traffic programme for 2013, we expect to see an increase in the total number of passengers. A positive full-year effect in 2013 is expected of 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, 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, 26-Feb-2013.