Copenhagen Airports revenue up 2.5% in 1Q2011

Copenhagen Airports reports (26-Apr-2011) the following consolidated financial highlights for the 3 months ended Mar-2011:

• Revenue*: EUR96.6 million, +2.5% year-on-year;
• EBITDA: EUR45.8 million, +3.2%;
• EBIT: EUR29.4 million, +0.5%;
• Profit before tax: EUR21.2 million, -7.5%;
• Net profit: EUR15.7 million, -9.3%;
• Total assets: EUR1240.4 million, +9.6%;
• Total liabilities: EUR871.9 million, +18.9%;
• Cash at end of the period: EUR129.2 million;
• Passenger numbers: 4.8 million, +4.3%. [more]

* Based on the conversion rate EUR1 = DKK7.46

Copenhagen Airports: "Based on the expected traffic programme for 2011, the total number of passengers is expected to continue to increase. Operating costs are expected to be higher, primarily due to the forecast growth in passenger numbers, cost inflation and depreciation as a result of the higher level of investments. Overall, profit before tax is expected to be on a level with 2010 when excluding one-off items," Source: Company statement, 26-Apr-2011.