Copenhagen Airport reports shopping revenue increase of +7.7% in 2015

DENMARK. Non-aeronautical revenue at Copenhagen Airport was up +4.9% to DKK1,697.4 million (US$247.4 million) in 2015.

Shopping revenue increased by+ 7.7% compared to 2014 to reach DKK759.9 million (US$110.7 million), driven by a strengthened tax free range, a larger tax free store in Pier B, and a “solid performance” by other stores and restaurants, the airport noted.

CEO Thomas Woldbye said the result confirmed “that our continuous development of the centre is meeting the many diverse expectations of our passengers”.

New brands added in 2015 included Gorm’s (restaurant), Aamanns (deli/takeaway), Murphy’s pub, Delicious by Nordic (delicacy store), three Capi units (electronics), an O’Learys bar in Terminal 2 landside, a DAY store (fashion) and an airport pharmacy.

The airport said revenue from the tax free stores also increased, partly due to a growth in passenger numbers and partly to investment in the stores. It said the shopping centre would be developed further in 2016.

Total revenue at the airport climbed DKK194.4 million (US$28.3 million) to DKK4,061.9 million (US$592 million), representing an increase of +5.0% over 2014.

Copenhagen Airports said a new traffic record of 26.6 million passengers in 2015 paved the way for the revenue growth as well as “high investment levels and solid earnings”. An annual record was set for the fifth year in a row, driven by growth on long-haul routes.

Woldbye commented: “Another record seemed unlikely in the first half of the year, but a strong second half saw us surge past 26 million passengers for the very first time.

“Passengers in the second half were also more satisfied with our service offering than ever before, leading to increased revenue from the airport’s shopping centre. We anticipate further growth in 2016 as we continue our expansion towards 40 million passengers a year.”

Copenhagen Airports invested DKK 1,148.4 million (US$167.4 million) in developing the airport in 2015, and Woldbye said he expected a similar figure this year.

The CEO said a key focus for 2016 would be to create a “unique” passenger experience. He commented: “Our ambition is to make passengers’ time at Copenhagen Airport the best part of the journey, so we strive constantly to ensure the best possible experience for all passengers.

“2015 saw us improving the central security check and adding new stores and restaurants that have been warmly welcomed by passengers.”

The airport said it expected profit before tax in 2016 to be between DKK 1,450.0 million (US$211.3 million) and DKK1,550.0 million (US$225.9 million) excluding one-off items. EBITDA excluding one-off items is expected to be up on 2015.

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