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Copenhagen Kastrup reports first-half commercial revenues increaseCopenhagen Kastrup reports first-half commercial revenues increase
Andrew Pentol
4-Aug-2008
An increase in shopping centre revenues and investment in the new Gebr Heinemann-operated duty-free shop has driven the increase
Copenhagen Kastrup airport has announced its interim results for the first six months of 2008, with commercial revenues increasing by 10.7% compared with the same period last year to DKr635.2 m ($133m). Commercial revenue in the second quarter rose by 14.2% to DKr340.2m ($71.2m). Overall revenue increased by 10.1% to DKr1.5m ($314,000).
Concession revenue rose 11.7% to DKr381.9m ($80m), which the airport attributed to investment in the new duty-free shop, operated by Gebr Heinemann under the Travel Retail Denmark fascia, which has helped increase sales per passenger as a result of improvements to the product range. New shops in the fourth quarter of 2007 and in the first half of 2008 also contributed to improved results. Shopping centre revenue increased by 17.1% to DKr250.3m ($52.3m), with passenger numbers rising 5.3% year on year to 10.8m.
An airport statement said: “The six months results in 2007 and 2008 were affected by the retail disruption related to refurbishments, but the impact in 2008 was significantly smaller than in 2007.”
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(20-Feb-2006) - Shopping centre revenues fell at Copenhagen airport last year, but traffic and other commercial revenues rose due to an increase in activities at the airport hotel, according to 2005 results
(2-Aug-2006) - Copenhagen Airports announces 12.4% rise in commercial revenues for first six months of the year
(19-Feb-2007) - Copenhagen Airports posts 12% increase in revenue in 2006
(3-Mar-2005) - The Danish group achieves solid profit growth in 2004, with concession revenues making a strong contribution
(22-Aug-2003) - An improvement in retail sales at Copenhagen Kastrup airport has offset a downturn in passenger numbers to help airport authority Copenhagen Airports achieve a 12% year-on-year profit increase for the first half of 2003.