Brief: Copenhagen Airports FY Operating Result Swings To Loss Of DKK 714.7 Million

Copenhagen Airports A/S

26/03/2021 10:49

March 26 (Reuters) - Copenhagen Airports A/S  KBHL.CO :
    * REG-GROUP ANNUAL REPORT FOR 2020
    * REG-GROUP ANNUAL REPORT FOR 2020
    * DIVIDEND TO SHAREHOLDERS IN 2020 AND 2021 HAVE BEEN
SUSPENDED
BECAUSE OF FINANCIAL SITUATION AND CONDITIONS FOR RECEIVING
COMPENSATION FROM DANISH GOVERNMENT'S SUPPORT PACKAGES.
    * IT IS ESTIMATED THAT 10,000 JOBS HAVE BEEN LOST IN DANISH
AVIATION SECTOR
    * PANDEMIC WILL CONTINUE TO AFFECT NUMBER OF FLIGHTS AND
PASSENGERS IN 2021
    * OVERALL, CPH RECEIVED DKK 348 MILLION IN COMPENSATION
PACKAGES
DURING YEAR OF CORONAVIRUS.
    * GLOBAL AVIATION CONTINUES TO FACE SIGNIFICANT UNCERTAINTY
FROM
ONGOING COVID-19 PANDEMIC AS WELL AS OTHER FACTORS SUCH AS
ECONOMIC UNCERTAINTY AND CLIMATE CHANGE
    * AT END OF YEAR, THERE WERE 772 FEWER FULL-TIME POSITIONS
(FTES).
    * IN 2020 CPH REDUCED COST OF INVESTMENTS AND BUILDING
PROJECTS BY
AROUND DKK 800 MILLION.
    * THERE IS STILL SIGNIFICANT UNCERTAINTY AS TO HOW AND WHEN
TRAVEL
RESTRICTIONS WILL BE LIFTED, AND IT IS NOT THEREFORE POSSIBLE TO
GIVE AN OUTLOOK FOR PASSENGER NUMBERS, REVENUE, PRE-TAX RESULT
AND TOTAL INVESTMENTS.
    * CPH WILL CONTINUOUSLY ASSESS AND ADJUST LEVEL OF OPERATING
COSTS
AND INVESTMENTS AND WILL ADVISE MARKET AS AND WHEN A MEANINGFUL
OUTLOOK CAN BE PROVIDED.
    * FY REVENUE DKK 1.58 BILLION VERSUS DKK 4.3 BILLION YEAR
AGO
    * FY OPERATING LOSS DKK 714.7 MILLION VERSUS PROFIT  DKK
1.43
BILLION YEAR AGO
    * 2020 PASSENGER NUMBERS PLUMMETED FROM 30.3 MILLION TO 7.5
MILLION

Source text for Eikon:  ID:nGNE1VGwk1 
Further company coverage:  KBHL.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;  +48 587696600;))