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Concession revenue grew in the first half, though the refurbishment of the Gebr Heinemann-operated Tax Free Shop held back growth in the period |
DENMARK. Non-aeronautical revenue at Copenhagen Airports climbed by +1.7% year-on-year in H1 2013, hitting DKK756.4 million (US$135 million), the company reported today.
Within this, concession revenue rose by +0.8% to DKK 480.8 million (US$86 million), with shopping revenue a key contributor, up +0.9% to DKK313.3 million (US$56 million).
“Of the latter, CEO Thomas Woldbye said: “Speciality shops, restaurants and bars performed very well as a result of our upgrades of the shop offering over the past few years, and at the beginning of the year we refurbished the six tax free shops to improve the passenger experience.”
Due to the extensive refurbishment and renovation by Gebr Heinemann, the tax free shop had a negative impact on revenue in the period (it opened in April).
The first half saw the opening of a Marc by Marc Jacobs store, H&M Kids, Eton, a new Joe and the Juice (and extension of the existing unit) and two new Lagkagehuset units.
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Parking revenue increased by +3%, driven by online promotions, higher average ticket value and an increase in the number of transactions on the Direct and Standard categories.
A total of 11,514,594 passengers travelled through Copenhagen Airport in the first six months of 2013, representing a rise of +2.2%. Group revenue increased by +3.4% and pre-tax profit rose by +1.9% to DKK544.2 million (US$97 million).
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Woldbye said: “The airlines’ strong summer programme is the driving force behind the growth in passenger numbers. Following a minor fall in passenger numbers in Q1, in which the performance was affected by 2012 being a leap year and by the timing of Easter, a particularly strong Q2 led to the improved performance. Most of the growth was generated by the low-cost airlines Norwegian, easyJet and Vueling. In addition it was encouraging to note that SAS’ new route to San Francisco was off to a flying start with good load factors.”
Copenhagen Airports said it expected to see an increase in passenger numbers in 2013, with traffic positively affected by the full-year impact of the routes restored after the bankruptcy of Cimber Sterling in 2012. But it added that traffic in 2013 “could be adversely affected by continuing financial uncertainty in the Eurozone and by any closure of routes due to airline cutbacks”.
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Passenger numbers are expected to grow once more in 2013 as the impact of the Cimber Sterling airline collapse recedes |
