Copenhagen Airport (CPH) reports that concession revenue from its shopping centre increased by 4.2% in the first three months of 2018 to reach DKK 192.8m ($30.6m). CPH’s total consolidated revenue in the first three months of 2018 rose by 1.7% to DKK 1,012.8m ($160.7m).

CPH says the rise in retail revenue can be attributed to an improved shop and brand mix as well as the additional units built in connection with the expansion of the security checkpoint. CPH says the growth was also attributable to a slight rise in departing passengers (+3.5%) in the first three months of this year.

As previously reported, twenty-four shops, restaurants and cafes will arrive at Copenhagen Airport’s (CPH) Terminal 2 shopping area in the summer as part of a significant expansion to its airside retail space.

CPH says traffic was positively affected by more passengers at Easter, which was in March this year, whereas it fell in April in 2017.

However, the number of transfer and transit passengers decreased by 8.2% with local departing passengers accounting for 81.2% of all departing passengers.

A rendering of T2’s retail and F&B layout to be constructed over the summer.

Sales made at CPH’s speciality stores were on par with last year despite ‘significant rebuilding work in connection with the expansion of Terminal 2’, said the company.

“The restaurant segment has been boosted by a new Lagkagehuset unit plus five new units added in connection with expansion of the security checkpoint,” it added.

“Tax free increased its revenue thanks to the increase in the number of departing passengers.”

Revenue from parking grew by 5.8% as a result of an amended price structure, introduced in 2017, which has helped to increase the average transaction value, a continuing stronger online and media presence, as well as growth in local departing passengers.

Revenue from rent from premises is at a higher level than in 2017, mainly due to new contracts.

In the first three months of 2018, CPH says its total number of passengers rose very slightly by 0.4% to 6.3m in Q1 2018. Local departing traffic to Europe was up 2.8%, traffic on long-haul routes was up 11.8% thanks to a number of new routes and local departing domestic traffic was down 3.3%.

“Based on the expected traffic programme for 2018, an increase in the total number of passengers is expected,” CPH said in its outlook for 2018.

“The increase in passenger numbers is expected to have a favourable impact on revenue, while growth is more than offset by the reduction in airport charges announced at the end of 2017.

“Operating costs are expected to be higher than in 2017, primarily due to the expected rise in passenger numbers, stricter regulatory requirements and cost inflation, although this will partly be offset by a continuing focus on operating cost efficiencies. Overall, depreciation charges and financing costs are expected to be higher than in 2017, primarily as a result of a significantly increased investment level.”