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DENMARK. An +11% increase in retail revenue contributed to overall revenue and profit growth at Copenhagen Kastrup Airport last year, the airport operator has revealed. Copenhagen Airports reported a +5.3% increase in non-aeronautical revenue (retail, parking and hotel) to DKK1,563 million (US$273.65 million).
Total revenue grew by +5.1% to DKK3,515.8 million (US$617.45 million), which the airport attributed mainly to the +2.7% increase in passenger numbers, “the full-year effect of the fully occupied shopping centre and an increased spend per passenger”. Excluding one-off items, profit after tax rose +11.3%. to DKK863.3 million (US$151.61 million).
Concession revenue grew +8.1%, driven by the increased shopping centre revenue. The airport also noted its continued efforts to bring an improved brand and shop mix to the airport, and the signing of its new five-year duty free concession with Gebr Heinemann. As reported, the new contract is effective from 1 March 2013.
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(L-R) Copenhagen Airports Vice President Sales and Marketing Carsten Nørland, Gebr Heinemann Executive Director Raoul Spanger, and Copenhagen Airports A/S CEO Thomas Woldbye signing the new concession in June 2012 |
New routes drive passenger growth
Passenger numbers at Copenhagen increased to 23.3 million in 2012, due to increased flight frequencies, bigger aircraft sizes and the addition of routes to 22 new destinations.
The number of locally departing international passengers rose by +3.4%, primarily driven by a new service to Shanghai and increased capacity on Middle East services to Dubai and Doha. Transfer traffic was up by +7.3% and intercontinental traffic grew by +10.2%.
A key factor in the increased profit was the sale of Copenhagen Airports’ 49% interest in NIAL Group, operator of Newcastle International Airport in the UK. The company also made several big investments throughout the year, including major changes to the check-in area of Terminal 2 and expanding Pier C arrivals capacity.
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Investment plan continues apace
Copenhagen Airports CEO Thomas Woldbye said: “The large-scale remodelling and expansion we started up in 2012 is to pave the way for continuing intercontinental growth. The investment is part of CPH’s World Class Hub strategy, which includes measures to increase the airport’s capacity to 30 million passengers per year.
“Also in 2012, we further accelerated our long-term planning to set the course for the future development of Copenhagen Airport to meet demands once we pass 30 million passengers annually.”
Looking to the future, the company said: “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.”
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