Copenhagen Airport (CPH) shopping revenue down -1% in 2013

By Kevin Rozario |

Copenhagen Airport saw its shopping centre revenue in 2013 fall by -1% to DKK 675.9m ($124m) due to what the operator, Copenhagen Airports, calls “a minor downturn” as a result of the refurbishment of the duty- and tax-free shops in the first half of last year.

 

Excluding duty- and tax-free sales, revenue grew by +13.4%, driven by speciality shops, restaurants and bars following an upgrade of the shop offering. Additionally, a +7.7% increase in revenue from CPH’s hotel operation, and a +2.8% increase in parking revenue, helped to keep the non-aeronautical division in positive territory with revenue rising by +0.5% to DKK 1,570.7m ($288.5m) – see below.

 

Total revenue at Copenhagen Airports increased by +3.7% to DKK 3,644.5m ($669.4m) last year as a result of a big +7.2% increase in aeronautical business to DKK 2,070.9m ($380.4m).

 

RETAIL DEVELOPMENTS

At the end of 2012, CPH signed a five-year agreement with Gebr. Heinemann on the latter’s continued operation of the duty- and tax-free shops at Copenhagen Airport. The new agreement took effect on 1 March 2013, and the new duty- and tax-free shop was officially opened in April 2013.

 

In early 2013, CPH also opened a Marc by Marc Jacobs shop, the brand’s first independent store at any European airport. An H&M Kids also opened last year, plus an Eton shirt store in the Nytorv area. WHSmith launched its ‘World of Reading’ concept in Terminal 2 while Samsung opened a store in Terminal 3, the brand’s first flagship store in Denmark.

 

Copenhagen Airport’s claims that “the increased attractiveness of the shopping centre” meant there were no vacancies in the shopping centre throughout 2013.

 

RECORD NUMBERS

Last year, CPH set a passenger record for the third consecutive year with 24.1m travellers, up +3.1% and driven by more international passengers.

 

“In recent years, we have seen an increase in the number of international and intercontinental passengers we serve, which is in line with our strategic focus on strengthening our position as a northern European hub,” says Thomas Woldbye (left), CEO of Copenhagen Airports, the operator of CPH. “That is also the reason why, each year, we invest a significant amount in expanding the airport so it is ready to handle the growth we expect over the next few years.”

 

The percentage of international passengers increased from 91.7% to 92.1% of traffic, and intercontinental traffic (long haul) was up by +3.8%, accounting for 10.2% of traffic. Aeronautical revenue was up by +7.2% to DKK 2,070.9m ($380.4m) which was mainly due to the increase in passenger numbers and a higher share of locally departing international passengers.

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