Copenhagen Airports A/S Projects Strong Growth for 2024
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Positive Outlook for Copenhagen Airports A/S's Financial Performance
Copenhagen Airports A/S (CPH) has experienced an active summer, resulting in an optimistic outlook for the remainder of the year and notably, an enhanced financial forecast for 2024.
Revised Revenue Growth Estimates
As travel activity continues to rise, CPH expects a revenue growth of approximately 24% in 2024, up from 20% previously reported. This promising expansion is primarily attributed to increased passenger numbers, with CPH now estimating around 29.8 million passengers, an increase from the earlier expectation of 29.0 million.
Profit Before Tax Forecast
Based on the anticipated influx of passengers reaching 29.8 million, CPH foresees profit before tax in the range of DKK 1.25 billion to DKK 1.40 billion. This projection marks an increase from the earlier range of DKK 1.15 billion to DKK 1.35 billion, largely driven by the growth in passenger traffic, though it is partially countered by a growing share of transfer passengers.
Economic Factors and Their Impact
Despite these positive indicators, the broader economic landscape remains unpredictable, influenced by ongoing geopolitical events and macroeconomic conditions. Any adverse changes in these areas could adversely affect travel sentiment and, consequently, CPH's financial outlook.
Capital Investments and Future Projects
Looking toward the future, CPH anticipates capital investments, including capitalized interest, to be around DKK 1.4 billion, down from DKK 1.5 billion. A significant portion of this planned investment will finance the expansion of Terminal 3, which is expected to account for nearly half of the estimated investment for 2024. The remainder will be allocated to various initiatives focused on enhancing capacity, safety, security, and compliance.
No Dividend Distribution in 2024
Due to restrictions connected to financing agreements, CPH has announced that there will be no dividend payments in 2024.
Company Contact Information
For further inquiries, stakeholders can reach out to:
COPENHAGEN AIRPORTS A/S
P.O. Box 74
Lufthavnsboulevarden 6
DK-2770 Kastrup
Contact:
Rasmus Lund, CFO
Telephone: +45 3231 3231
Email: cphpresse@cph.dk
Website: www.cph.dk
CVR nr: 14 70 72 04
Frequently Asked Questions
What is the expected revenue growth for Copenhagen Airports A/S in 2024?
Copenhagen Airports A/S anticipates a revenue growth of about 24% in 2024.
How many passengers does CPH expect in 2024?
The airport expects approximately 29.8 million passengers in 2024.
What is the forecast profit before tax for CPH?
Profit before tax is projected to be between DKK 1.25 billion and DKK 1.40 billion.
Will there be a dividend payment in 2024?
No, there will be no dividend payment in 2024 due to financing agreement restrictions.
What major projects are planned for investment in 2024?
The expansion of Terminal 3 is a major focus, alongside improvements in capacity, safety, security, and compliance.
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