Kobenhavns Lufthavne A/s · OMXCOP:KBHL
Kobenhavns Lufthavne A/s — Copenhagen Airports — FY2001 Earnings Presentation
21 slides from Kobenhavns Lufthavne A/s's earnings presentation, 2002
Slide 1: Copenhagen Airports A/S Annual Presentation 2001
Copenhagen Airports A/S Annual Presentation 2001
Slide 2: Participants from Copenhagen Airports A/S
Participants from Copenhagen Airports A/S Niels Boserup President & CEO Kjeld Binger Executive Vice President Torben Thyregod Senior Vice President & CFO Flemming Petersen Vice President
Slide 3: Profit before tax by activity
Profit before tax by activity Group profit fell by DKK 99.8 million in 2001 Operating profit of the parent 650 company fell by DKK 43.5 DKK million Mexico million Newcastle 590,1 l revenues fell by DKK 600 85.0 million Hilton compared to expected income 550 l expenses as -43,5 Parent expected Openin
Slide 4: Financial statements
Financial statements DKK million 2001 2000 Change Total net revenue 1,996 1,871 +6.7% Operating costs 1,356 1,177 +15.2% Operating profit 640 694 -7.8% Net interest expenses 149 104 +43.6% and profit from associated companies Pre-tax profit 490 590 -16.9% Net profit 341 437 -22.0%
Slide 5: Net revenue
Net revenue 1,980 114.9 1,961.5 Net revenue in 2001 DKK million (207.0%) (6.5%) 1,960 increased by DKK 120.2 million compared to 2000. 1,940 Corresponds to an increase of 6.5% 1,920 1,900 Increase in sales of services due to the Group’s hotel 1,880 activities and increase in 5.3 (0.3%) consultancy f
Slide 6: Operating costs
Operating costs 1,400 Operating costs increased by DKK million 37.7 1,356.2 (+9.3%) (+15.2%) DKK 179.0 million in 2001 1,350 35.7 105.6 (+7.5%) Increase in external expenses (+35.7%) 1,300 primarily due to the Group’s hotel activities, research on potential international 1,250 investments and increa
Slide 7: Net interests and pre-tax profit from associated companies
Net interests and pre-tax profit from associated companies 180 Increase in net financial DKK million expenses due to financing of 160 71.9 149.3 Newcastle, the Hilton and 140 peninsula in Kastrup 120 Increase in income from long- 104.0 26.5 term financial assets due to 100 investments in Mexico and
Slide 8: Key ratios - operations
Key ratios - operations 2001 2000 Operating margin 32.6% 37.7% NOPAT margin 24.2% 28.2% Return on assets 9.8% 10.9%
Slide 9: Balance sheet
Balance sheet DKK million 2001 2000 Tangible fixed assets 6,174 6,170 Long-term financial assets 1,657 381 Current assets 482 407 Total assets 8,313 6,958 Shareholders’ equity 3,167 2,879 Provisions 751 675 Debt 3,956 2,870 Other liabilities 439 533 Total liabilities and equity 8,313 6,958 Increase
Slide 10: Capital and long-term financial investments
Capital and long-term financial investments 1,400 Most important capital DKK million Capital investments Long-term financial investments investments in 2001 include 1,193 the Hilton and the peninsula in 1,200 Kastrup 1,000 Most important long-term financial investment is 800 Newcastle International
Slide 11: Investment plan
Investment plan 10-year investment plan 2002-2011 Ongoing and planned investments Estimated total capital DKK million expenditures Share Capacity 2,800 53% Reinvestment 2,500 47% Total 5,300 100%
Slide 12: Key ratios - balance sheet
Key ratios - balance sheet 2001 2000 Return on equity 11.3% 16.2% Equity ratio 38.1% 41.4% Turnover rate of capital employed 0.30 0.33 ROCE (Return on capital employed) 7.4% 9.3% Gearing 0.80 0.46
Slide 13: Cash flow
Cash flow DKK million 2001 2000 Operations 863 930 Investments -1,697 -803 Finance 974 -104 Cash and cash equivalents at year end 181 41
Slide 14: Platform for international expansion
Platform for international expansion Implement know-how Secure direct influence on future operations by • acquiring equity stakes • controlling influence on business strategy and commercial issues • direct influence at Board level Focus on investments in existing airport infrastructure Seek partners
Slide 15: Nine airports in Mexico
Nine airports in Mexico · CPH owns, directly and indirectly, 6.3% of · Income from consultancy: DKK 7.9 million in the shares in ASUR 2001 · ASUR – a 100% privatised airport company · Balanced passenger mix listed on the NYSE and the Mexican Stock · Significant commercial upside due to the Exchange
Slide 16: Passengers Mexico
Passengers Mexico 11.2 million passengers in 2001 Overall decrease: 1.8% Passengers Share Change Domestic 4,606,200 41% -1.9% International 6,634,200 59% -1.7% Total 11,240,400 100% -1.8% Cancun 7.6 million passengers in 2001 Overall decrease: 1.4% Passengers Share Change Domestic 1,734,200 22.7% -0
Slide 17: Newcastle International Airport
Newcastle International Airport · CPH owns 49% of NIAL Holdings Plc. · Strong catchment area with little overlap in the · CPH’s share of the actual results according to North Eastern part of England the equity method: DKK 10.6 million in 2001 · Good basic infrastructure and sufficient · CPH has sign
Slide 18: Passengers Newcastle
Passengers Newcastle 3.5 million passengers in 2001 Overall increase: 6.9% Passengers Share Change International 656,224 18.9% +8.8% Domestic 1,035,826 29.9% +5.4% Charter & other 1,771,430 51.2% +7.0% Total 3,463,480 100% +6.9% Seasonal fluctuations, NIAL 2001 450 Arriving and departing passengers
Slide 19: Outlook for 2002
Outlook for 2002 Q1: Seasonal fluctuations in pre-tax profit Negative contribution from NIAL Financial expenses related to the acquisition 250 DKK miollion Decrease in traffic in Kastrup 200 150 Q2: Negative contribution from NIAL 100 Financial expenses, NIAL 50 Q3: 0 Same level as Q3-01 Q1 Q2 Q3 Q4
Slide 20: Forventninger til 2002
Forventninger til 2002 Q1: Sæsonudsving i resultat før skat Negativ resultatandel fra NIAL Finansielle udgifter relateret til investeringen 250 DKK millioner Fald i trafikken i Kastrup 200 150 Q2: Negativ resultatandel fra NIAL 100 Finansielle udgifter, NIAL 50 0 Q3: Samme niveau som Q3-01 Q1 Q2 Q3
Slide 21: Shareholder value scheme
Shareholder value scheme • Change in dividend policy (Payout ratio ³ 25%) • Incentive scheme for Management • Authorisation to let the company acquire own shares at a nominal value of up to 10% of the share capital