Brief: Copenhagen Airports Q1 EBIT Excluding One-Off Items Down At DKK 110.8 Mln

Copenhagen Airports A/S

18/05/2020 11:01

May 18 (Reuters) - Copenhagen Airports A/S  KBHL.CO :
    * REG-COPENHAGEN AIRPORTS A/S INTERIM REPORT OF THE PERIOD 1
JANUARY – 31 MARCH 2020
    * Q1 REVENUE AMOUNTED TO DKK 764.3 MILLION (2019: DKK 971.8
MILLION), A 21.4% DECLINE FROM LAST YEAR, PRIMARILY DUE TO
CORONAVIRUS CRISIS.
    * Q1 EBIT, EXCLUDING ONE-OFF ITEMS, WAS DOWN BY 61.5% TO DKK
110.8
MILLION (2019: DKK 287.5 MILLION)
    * STANDSTILL IN MARCH WAS SO ABRUPT THAT CPH IS REPORTING
HISTORICALLY POOR QUARTERLY RESULTS DESPITE NEAR NORMAL
OPERATIONS IN JANUARY AND FEBRUARY.
    * WITH VIRTUALLY NO AIR TRAFFIC DURING MONTHS OF APRIL AND
MAY AND
EXTENSIVE UNCERTAINTY AS TO WHEN WORLD WILL REOPEN, CPH IS
UNABLE TO PROVIDE GUIDANCE FOR NEAR FUTURE
    * PASSENGER NUMBERS AT COPENHAGEN AIRPORT WAS 4.8 MILLION IN
FIRST
THREE MONTHS OF 2020, WHICH WAS 24.2% FEWER THAN IN SAME PERIOD
LAST YEAR DUE TO CORONAVIRUS CRISIS
    * 2020 WILL BE A CHALLENGING AND DIFFICULT YEAR FOR AVIATION
INDUSTRY
    * IN TERMS OF LIQUIDITY, CPH IS WELL PREPARED FOR COMING
PERIOD
    * WILL PUBLISH EXPECTATIONS FOR 2020 AND OTHER MATERIAL NEW
INFORMATION, WHEN SUFFICIENT CLARITY BECOMES AVAILABLE

Source text for Eikon:  ID:nGNEqYpw0 
Further company coverage:  KBHL.CO 

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