Copenhagen Airport EBITDA up 7% in 3Q2013; FY pax and EBITDA expected to be higher

Denmark's Copenhagen Airport revenue up 4% - financial highlights:

• Three months ended 30-Sep-2013:
• • Revenue: DKK1009 million (EUR135.3 million), +4.4% year-on-year;
  • Aeronautical: DKK591.6 million (EUR79.3 million), +9.0%;
  • Non-aeronautical: DKK417.2 million (EUR55.9 million), -0.7%;
  • EBITDA: DKK606 million (EUR81.3 million), +7.0%;
  • Net profit: DKK313 million (EUR42.0 million), +10.1%;
• Nine months ended 30-Sep-2013:
• • Revenue: DKK2750 million (EUR368.7 million), +3.8%;
  • • Aeronautical: DKK1575 million (EUR211.1 million), +7.3%;
    • • Take-off: DKK298.8 million (EUR40.1 million), +4.4%;
      • Passenger revenue: DKK740.7 million (EUR99.3 million), +8.2%;
      • Security: DKK365.4 million (EUR49.0 million), +8.1%;
      • Handling: DKK127.9 million (EUR17.1 million), +8.2%;
    • Non-aeronautical: DKK1174 million (EUR157.4 million), +0.8%;
    • • Concession: DKK758.1 million (EUR101.6 million), -0.3%;
      • • Shopping centre: DKK499.9 million (EUR67.0 million), -1.1%;
        • Parking: DKK221.9 million (EUR29.8 million), +2.4%;
      • Rent: DKK137.6 million (EUR18.4 million), -2.7%;
      • Sale of services: DKK277.9 million (EUR37.3 million), +6.1%;
  • EBITDA: DKK1528 million (EUR204.9 million), +4.3%;
  • Net profit: DKK768 million (EUR103.0 million), +12.9%;
  • Total assets: DKK9531 million (EUR1278 million);
  • Cash: DKK45.5 million (EUR6.1 million);
  • Total liabilities: DKK6814 million (EUR913.7 million). [more - original PR]

*Based on the average conversion rate at EUR1 = DKK7.458

Copenhagen Airport: "With the anticipated traffic programme for the rest of 2013, we still 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, including the full year effect of the routes restored after the bankruptcy of Cimber Sterling in 2012. Traffic in Q4 2013 could, however, still 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 favorable impact on revenue. Operating profit before depreciation is still projected to be higher in 2013 than in 2012, when excluding one-off items. Based on the successful refinancing which has been completed in Q3 2013, CPH revises the profit before tax outlook for 2013 to be in line with 2012, when excluding one-off items." Source: Company statement, 05-Nov-2013.