Copenhagen Airports Q1 non-aeronautical revenues lag passenger growth but profits soar

DENMARK. Copenhagen Airports has posted a +9% increase in year-on-year non-aeronautical revenues to DKK482 million (US$75.43 million) and a +12% rise in total revenues to DKK1.2 billion (US$188 million) for its first quarter (January-March 2026).

Overall non-aeronautical revenues, including retail and food & beverage concessions income, lagged behind a +14% year-on-year growth in passenger numbers to 7 million at the group’s flagship Copenhagen Airport.

Strong long-term passenger growth at Copenhagen Airport is expected in the face of terminal improvements and expansion, confirmed by Copenhagen Airports Real Estate Director Peter Balling Teisen in a recent interview with The Moodie Davitt Report

Q1 concession revenue from the airport’s shopping centre rose +12% to DKK196 million (US$30.67 million) compared with the same period last year. Copenhagen Airports noted the improvement was primarily driven by the growth in passengers.

Parking revenue for the first three months was up +5% year-on-year to DKK5 million (US$780,000).

All figures courtesy of Copenhagen Airports; Graphics: Moodie Davitt Business Intelligence Unit; Click on the images to expand.

Total rent from concessions climbed +2% year-on-year to DKK52 million (US$8.14 million).

Non-aeronautical EBIT increased +11% measured against the same period last year to DKK263 million (US$41 million) .

The airport operator noted the increase was primarily driven by higher revenue resulting from increased activity levels, partly offset by higher staff costs.

Overall EBITDA amounted to DKK456 million (US$71.36 million), a DKK73 million (US$11.42 million) increase or +18% compared with the same period last year.

Copenhagen Airports said the increase in EBITDA, mainly due to increased revenue, was partly offset by a rise in operating costs resulting from the higher activity level, including 194 new full-time employees.

EBIT for the period was DKK237 million (US$37.09 million), an increase of +48% year-on-year.

Profit before tax soared +88.46% year-on-year to DKK196 million (US30.67 million), a year-on-year increase of DKK92 million (US$14.4 million).

In its outlook, Copenhagen Airports estimated total passenger numbers will be approximately 35.5 million for full-year 2026.

Correspondingly, it said, overall revenue is expected to grow around +7% and profit before tax for the full year is predicted to be between DKK1.75 billion (US$270 million) and DKK1.90 billion (US$300 million).

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