INTERIM REPORT OF COPENHAGEN AIRPORTS A/S (CPH) FOR THE PERIOD 1 JANUARY – 31 MARCH 2017
The Board of Directors has today approved the interim report for the period 1 January – 31 March 2017.
Download the full report in PDF
Summary for the first Three months of 2017
In the first quarter of the year, 6,243,782 passengers passed through Copenhagen Airport, 2.3% more than in the same quarter of 2016. Growth was mainly driven by an increase in the number of international passengers, with 4.0% more passengers on long-haul intercontinental routes, but also an increase of 3.5% on domestic routes.
A major factor in the passenger growth in the first quarter was the continued increase in tourists visiting Denmark. More than 30% more tourists flew here during the first quarter, particularly young people on weekend trips, which is a growing segment. In recent years, CPH’s intercontinental route has been expanded with even more destinations outside Europe, and recently, in March, Norwegian opened its route from CPH to Oakland, San Francisco on the American west coast.
High investment level maintained
The major expansion of capacity in the central security checkpoint was initiated in 2016 and will be completed in 2017. Furthermore, at the start of the year, the airport launched two new major expansion projects: the start of a new Pier E especially for large aircraft on long intercontinental routes and expansion of the area of the airport after the central security checkpoint between Pier A and Pier B.
The projects are part of Expanding CPH, the airport’s DKK 20 billion investment plan to expand the airport to be able to accommodate 40 million passengers a year. In 2016, CPH invested approx. DKK 1.1 billion in the airport, and in March the Company announced that this level would increase by approx. 20% to DKK 1.3 billion per year as part of a targeted investment package. CPH is investing in expanding capacity by creating more space for aircraft and passengers, but also in making it more attractive for airlines to fly here. CPH has therefore increased the investment in optimisation initiatives to reduce the airlines’ costs of doing business at CPH.
Growth in non-aeronautical activities
The interim financial statements for the first quarter were affected positively by growth in non-aeronautical business, with the airport’s car parking and food & beverage outlets making a particularly positive contribution.
The airport has also entered into a new agreement with Nordic Choice Hotels, which as of 1 April took over the running of the hotel, now renamed Clarion Hotel Copenhagen Airport. Under this agreement, a new 500-room hotel is also being built as well as a large meeting and conference centre immediately adjacent to the Clarion hotel.