Copenhagen Airport retail and food & beverage revenues increase +25% year-on-year in first nine months

DENMARK. Copenhagen Airport’s concession revenues from retail and food & beverage for January to September increased +25% year-on-year to DKK609 million (US$87.2 million). Total revenues for the  nine months rose +17% to DKK3,064 million (US$438.7 million).

The positive result was achieved from passenger numbers of 20.3 million, an increase of 3.9 million (+24%) on the same period of 2022. “Appetite for travel is expected to continue throughout the year,” Copenhagen Airports noted.

Key financials from Q3 and the first nine months of 2023 from Copenhagen Airport (click to enlarge)

Overall non-aeronautical revenues reached DKK1,405 million (US$201.2 million) in the first nine months, a +13% improvement on the same period of 2022. Q3 accounted for DKK526 million (US$75.3 million) of these revenues, up +5% against the equivalent quarter of 2022.

Aeronautical revenues amounted to DKK1,659 million (US$237.6 million), +20% compared with the first nine months of 2022.

Non-aeronautical revenue business performance for Q3 and first nine months of 2023 (above) and (below) a breakdown of concession revenues in the year-to-date. Click to enlarge.

EBITDA reached DKK1,370 million (US$237.55 million), an increase of +28% year-on-year.

Profit before tax amounted to DKK408 million (US$58.4 million), an improvement of DKK187 million (US$26.8 million) compared to the first nine months of 2022.

Click on the image to read our recent on-location report of a new development from Gebr. Heinemann in duty free at Copenhagen Airport

Total concession revenues in the first nine months were up +22% against the same period of 2022, with car parking contributing DKK276 million (US$39.5 million), a rise of +17% against the January-September 2022 period.

Revenue from Copenhagen Airport’s hotel operation increased +2% against the first nine months of 2022, to reach DKK84 million (US$12 million).

Based on current trajectories, Copenhagen Airport said it expects passenger levels at approximately 26.5 million for the full year 2023 (previous expectation: 26 million). ✈


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