DENMARK. Copenhagen Airports has reported a 7.5% year-on-year revenue increase from its shopping centre in the first quarter of 2019, to DKK207.2 million (US$31.1 million).
The increase was attributed to passenger growth and the addition of restaurants and cafés as part of the completed Terminal 2 expansion. An improved shop and brand mix also had a positive impact.
Revenue growth was ahead of passenger growth of 1.2%, with traffic reaching 6.3 million.
Gebr Heinemann is the core duty free and travel retailer at Copenhagen Airport. The tax free shop experienced an increase in revenue, as it was under renovation in the first months of 2018.
The restaurant segment was boosted by ten new units added in connection with the expansion project. Speciality stores were also boosted by new additions.
Revenue from parking fell by 0.6% due to a decrease in local departing passengers. Other revenue grew 5%, mainly because of an increase in the number of car rentals.
Overall concession revenue was up 4.8% to DKK314.6 million (US$47.2 million), while non-aeronautical revenue increased 4.2% to DKK440.7 million (US$66.1 million).
Overall revenue fell by 4.1% due to a reduction in airport charges that came into force on 1 April 2018. Profit before tax was DKK256.2 million (US$38.4 million), a decrease of 18.9% compared to the same period in 2018. This was primarily attributed to the reduction in airport charges.
EBITDA, excluding one-off items, decreased by 11.3% to DK509 million (US$76.4 million). Reported EBITDA fell by 10.3% to DKK506.8 million (US$76.1 million).