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Københavns Lufthavne A/S (KBHL.CO)

Copenhagen - Copenhagen Real-time price. Currency in DKK
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6,020.00-80.00 (-1.31%)
At close: 4:37PM CEST
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Previous close6,100.00
Open6,280.00
Bid6,020.00 x 0
Ask6,100.00 x 0
Day's range6,020.00 - 6,280.00
52-week range4,250.00 - 7,700.00
Volume94
Avg. volume129
Market cap47.245B
Beta (5Y monthly)0.51
PE ratio (TTM)N/A
EPS (TTM)-131.65
Earnings date09 Nov 2021
Forward dividend & yieldN/A (N/A)
Ex-dividend date03 Apr 2020
1y target est1,707.00
  • Globe Newswire

    INTERIM REPORT OF COPENHAGEN AIRPORTS A/S (CPH) FOR THE PERIOD 1 JANUARY – 30 JUNE 2021

    Stock Exchange Announcement Copenhagen, 11 August 2021 The Board of Directors has today approved the interim report for the period 1 January – 30 June 2021. SUMMARY OF THE FIRST HALF OF 2021 Serving just 1.4 million passengers in the first half of 2021, a mere fraction of the H1 2019 figure of 14.4 million, Copenhagen Airports incurred a loss before tax of DKK 851 million for the period. After winter and spring seasons with aviation travel heavily restricted and a loss of 90–95% of traffic, pros

  • Globe Newswire

    Interim report of Copenhagen Airports A/S (CPH) for the period 1 January – 31 March 2021

    Stock Exchange Announcement Copenhagen, 18 May 2021 The Board of Directors has today approved the interim report for the period 1 January – 31 March 2021. SUMMARY OF THE FIRST THREE MONTHS OF 2021 Only 430,000 passengers passed through Copenhagen Airport in the first three months of the year. This is equivalent to the number of passengers in just six ordinary days before the COVID-19 crisis. With air traffic remaining at an extremely low level, CPH reported a loss of DKK 436 million before tax in the first quarter. At DKK 189 million, revenue was down by 75.2% relative to the first quarter of 2020, in which January and February were normal months. Having executed a significant cost-cutting programme, CPH’s focus is now on the restart and the government’s reopening plan for the travel industry. CPH is thus still in the midst of the worst crisis in recent history. Operating at less than 10% of normal capacity, CPH is still relying on borrowed funds to keep the airport running from month to month. The necessary costs of maintaining operations far exceed CPH’s income. In the first quarter of the year, CPH had to draw down a further DKK 500 million on its credit facilities. This was necessary because CPH’s principal responsibility is to keep Denmark’s gateway to the world open even in times of very limited passenger traffic and, not least, for air cargo traffic. Cash funds available – investments on holdCPH is in the process of negotiating an extension of the DKK 6 billion credit facilities agreement entered into in May 2020 as well as an extension of the current loan covenant waiver agreement with existing lenders. The credit facilities agreement saw CPH through 2020, as CPH had to draw just under DKK 1.4 billion on our facilities. It is expected that a waiver extension of up to 18 months will be agreed on satisfactory terms. CPH has executed a significant cost-cutting programme for its operating costs, including job sharing and redundancies. As announced in the 2020 Annual Report, this has resulted in an annual saving of approximately DKK 500 million. Before the COVID-19 crisis struck, CPH invested some DKK 2 billion annually in developing the airport. As part of last year’s extensive measures to cut CPH’s cash outflows, the investment programme was reassessed and reduced by DKK 800 million in 2020. Many investments were put on hold. These adjustments continue in 2021, and investments previously planned for the period 2020-2022 will be reduced by a total of more than DKK 2 billion. The road to a healthy businessThe aviation industry is still on its knees, and as many as 10,000 jobs have been lost in and around Copenhagen Airport. The airlines’ programmes offer many options for travelling this summer, but everything depends on the vaccines, the future EU COVID status certificate, infection trends, airport restrictions and the new reopening plan for the entire industry. It is crucial that traffic and passengers begin to return soon if CPH is to stay competitive, remain able to invest in the airport’s green transition, facilitate access to Denmark, and also remain an attractive investment for its owners. It is not possible for CPH to save its way out of the crisis; the traffic needs to get moving again. Battle for the hubCPH’s ambition to be Northern Europe’s leading international aviation hub remains intact. However, competition for that position has intensified significantly during the COVID-19 crisis. CPH’s closest competitors, for example in Scandinavia and Germany, have received large sums in government support for development. That is not possible for CPH. CPH is very appreciative of the government support packages received, e.g. salary compensation. However, in comparison with our neighbouring countries, the Danish support packages are relatively limited, so CPH has had to draw on its own credit facilities. In 2020, CPH received a total of DKK 348 million in government compensation packages. Despite this, CPH reported a loss before tax for the year of DKK 828 million. SAS is by far the largest airline at Copenhagen Airport, accounting for about a third of the traffic. SAS has indicated that the company intends to consolidate its business at CPH. This is a key prerequisite for CPH to once again be able to offer a large international route network from Copenhagen. HIGHLIGHTS The number of passengers at Copenhagen Airport was 0.4 million in the first quarter of 2021, a 91.0% drop from the same period last year due to the effect of the COVID-19 pandemic. The number of locally departing passengers was 0.2 million (89.9% fewer than last year), while transfer and transit passengers numbered 28 thousand (94.1% fewer than last year).Revenue amounted to DKK 189.3 million (2020: DKK 764.3 million), a 75.2% decline from last year. EBITDA was similarly affected and amounted to a loss of DKK 152.9 million (2020: profit of DKK 313.0 million), down DKK 465.9 million from last year. EBIT was a loss of DKK 405.0 million (2020: profit of DKK 103.6 million), corresponding to a decrease of DKK 508.6 million. Net financing costs amounted to DKK 30.5 million, which was in line with the same period in 2020.Profit before tax fell by DKK 507.7 million to a loss of DKK 435.5 million (2020: profit of DKK 72.2 million).Capital investments were DKK 138.2 million in the first quarter of 2021 (2020: DKK 489.1 million). Investments included the expansion of Terminal 3, construction of a multi-storey car park, new baggage facilities, various IT systems, as well as miscellaneous improvement and maintenance work. OUTLOOK FOR 2021 Global aviation continues to face significant uncertainty from the ongoing COVID-19 pandemic as well as other factors such as economic uncertainty and climate change. The pandemic will continue to affect the number of flights and passengers in 2021, in terms of both leisure and business travel. Airlines have announced that they will continue to operate with reduced capacity and will scale their business based on demand. Due to the structural unpredictability that COVID-19 has created for air travel in Denmark and worldwide, and the significant uncertainty about how long the situation will last, it is currently not possible to make a reasonable assessment of the financial outlook for CPH. There is still significant uncertainty as to how and when travel restrictions will be lifted, and it is therefore not possible to provide an outlook for passenger numbers, revenue, pre-tax result and total investments. As a consequence, CPH will continuously assess and adjust the level of operating costs and investments, and will advise the market as and when a meaningful outlook can be provided. P.O. Box 74Lufthavnsboulevarden 62770 Kastrup, Denmark Contact: Rasmus LundCFO Tel.: +45 3231 3231E-mail: cphweb@cph.dkwww.cph.dkCVR no. 14 70 72 04 Attachment Q1 2021 Announcement to the Copenhagen Stock Exchange

  • Globe Newswire

    COURSE OF COPENHAGEN AIRPORTS A/S' ANNUAL GENERAL MEETING 2021

    Company Announcement Copenhagen, 26 April 2021 On Monday 26 April 2021 at 3 pm (CEST), the annual general meeting of Copenhagen Airports A/S was held with the following agenda: The report of the board of directors on the company's activities during the past yearProposal from the board of directors to prepare and submit annual reports in EnglishPresentation and adoption of the audited annual reportResolution to discharge the board of directors and the executive board from liabilityResolution on the appropriation of profit or loss as recorded in the adopted annual reportElection of members of the board of directors, including the chairman and the deputy chairmenPresentation of and advisory vote on the remuneration reportApproval of remuneration to the board of directors for the current yearAppointment of auditorProposals from the board of directors to amend the company's articles of association Proposal from the board of directors to adopt an authorization in the company's articles of association to conduct completely electronic general meetingsProposal from the board of directors to amend article 7.2 of the company's articles of association Proposals from the shareholdersAuthorisation to the chairman of the general meetingAny other business Re item 1 The general meeting acknowledged the report of the board of directors. Re item 2 The general meeting approved the proposal from the board of directors to prepare and submit annual reports in English. Re item 3 The general meeting adopted the 2020 annual report. Re item 4 The general meeting discharged the board of directors and the executive board from liability. Re item 5 The general meeting approved the proposal not to distribute dividends for 2020 and to carry forward the result of the year as recorded in the adopted annual report to the following financial year. Re item 6 Lars Nørby Johansen was re-elected as chairman of the board of directors, and David Mark Stanton was re-elected as deputy chairman of the board of directors. Janis Carol Kong and Charles Thomazi were re-elected as members of the board of directors. Martin Præstegaard was elected as new deputy chairman of the board of directors (together with David Mark Stanton). Lars Sandahl Sørensen was elected as new member of the board of directors replacing Ulrik Dan Weuder, who did not stand for re-election. Re item 7 The general meeting approved the company's remuneration report. Re item 8 The general meeting approved the proposed remuneration of the board of directors for the current financial year. Re item 9 The general meeting re-elected PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab as the company's auditor. Re item 10 The general meeting approved the proposal from the board of directors to amend the company's articles of association in accordance with agenda items 10a and 10b. Re item 11 The board of directors did not approve the submitted shareholder proposals. Re item 12 The general meeting authorised the chairman of the general meeting to register the resolutions with the Danish Business Authority. COPENHAGEN AIRPORTS A/S P.O. Box 74 Lufthavnsboulevarden 6 DK-2770 Kastrup Contact: Thomas Woldbye CEO Telephone: +45 32313231 E-mail: cphweb@cph.dk www.cph.dk CVR no. 14 70 72 04 Attachment EXEC - AGM 2021 - CPH Company Announcement - Course of AGM