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Copenhagen Airports A/S

Copenhagen Airports A/S

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Copenhagen Airports A/S

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  1. Copenhagen Airports A/S Annual presentation 2003

  2. Copenhagen Airports A/S owns and operates the airports at Copenhagen and Roskilde in Denmark Copenhagen Airport is the largest airport in Scandinavia – 17.7 million passengers in 2003 The Scandinavian hub; the main hub for SAS and Star Alliance and the northern European hub for DHL 119 scheduled destinations: 10 domestic (incl, Greenland & Faroe Islands), 20 Other Nordic, 69 Other European, 20 Intercontinental) | Annual presentation 2003 | Copenhagen Airports A/S 2

  3. | Annual presentation 2003 | Ratios | Annual presentation 2003 |Ratios 3 3

  4. | Annual presentation 2003 | Segments 4 • Traffic • Operations and functions • Facilities for the movement of passengers • Revenues include traffic charges, take-off charges and aircraft parking charges • Commercial • Facilities and services provided to passengers (parking facilities, shops, restaurants, resting areas and lounges, the Hilton Copenhagen Airport) • Revenues earned from private operators and leasing of buildings, premises and land • International • Investments in foreign airports • Revenues earned from consultancy services

  5. Financial overview DKK million | Annual presentation 2003 | Financial overview 5

  6. Revenue breakdown DKK million | Annual presentation 2003 | Revenue breakdown 6

  7. Breakdown of operating costs DKK 1,000 | Annual presentation 2003 | Breakdown of operating costs 7

  8. Revenue by business area - Traffic DKK 1,000 | Annual presentation 2003 | Revenue by business area | Traffic 8

  9. | Annual presentation 2003 | Traffic 2003 | Monthly breakdown 2003 9 Monthly breakdown 2003 (total no. of pass.)

  10. Markets 2003 - Traffic DKK 1,000 | Annual presentation 2003 | Traffic 2003 | Markets 2003 10 • * Incl. Greenland and Faroe Islands

  11. | Annual presentation 2003 | Traffic 2003 | Top 10 markets 2003 11 Top 10 markets 2003

  12. | Annual presentation 2003 | Traffic 2003 | Aircraft movements 12 Aircraft movements Overall decrease: 3.0%

  13. Maximum take-off weight – total traffic Maximum take-off weight – all-cargo flights DKK 1,000 DKK 1,000 | Annual presentation 2003 | Traffic 2003 | Maximum take-off weight 13

  14. | Annual presentation 2003 | Traffic 2003| Airlines top 10 14 14 61 airlines 119 scheduled destinations

  15. 1.15 million low cost passengers in 2003 corresponding to 6.3% of total traffic (2002: 2.9%) 4 new low cost airlines in 2003: Iceland Express (February), Snowflake (March), Nordic Airlink (November) and V Bird (December) creating a net total of 11 new low cost services out of Copenhagen Airport easyJet Iceland Express Nordic Airlink Snowflake Sterling V Bird Virgin Express | Annual presentation 2003 | Traffic 2003 | Low cost traffic 15 15 Low cost airlines at Copenhagen Airport in 2003:

  16. Revenue by business area - Commercial DKK 1,000 | Annual presentation 2003 | Revenue by business area | Commercial 16

  17. Revenue by business area – Sale of Services DKK 1,000 | Annual presentation 2003 | Revenue by business area | Sale of Services 17

  18. | Annual presentation 2003 |Airport capacity 18 18 • Runways: 83 mixed movements/hour • Terminal: 25 million passengers • A “one terminal” concept has led to capacity optimisation and flexible capacity management (including flexible assignment of aircraft to gates) • If needed, Copenhagen Airports can increase capacity gradually without a need for drastic capacity extension

  19. Total investments 2003: DKK 230 mio. DKK 1,000 | Annual presentation 2003 | Investments 19

  20. | Annual presentation 2003 | Cashflow and payout ratio 1999-2003 20

  21. | Annual presentation 2003 |Platform for international expansion 21 21 • Active ownership • Transfer of know-how • Focus on investments in existing airport infrastructure • Secure a balanced risk/return profile • Secure direct influence on future operations by • Acquiring equity stakes • Controlling influence on business strategy and commercial issues • Direct influence at Board level

  22. | Annual presentation 2003 | TSA fee and profit from interests in associates before tax 22 22 Profit from interests in associates before tax

  23. | Annual presentation 2003 | Hainan Meilan Airport Company Ltd, 23 • Copenhagen Airports owns 20% of the shares in Hainan Meilan Airport Company Ltd. • Hainan Meilan Airport Company Ltd. is listed on the Main Board of the Hong Kong Stock Exchange • A strategic investment agreement, a shareholders’ agreement and a technical services agreement secure Copenhagen Airports management influence over Hainan Meilan Airport • Hainan Meilan Airport is located on Hainan in the southernmost part of China, which is known as the “Hawaii of China” due to its exotic beaches and tropical climate • 6.0 million passengers in 2003 corresponding to an increase of 7.7% despite the outbreak of SARS in the second quarter of the year • Achieved international airport status in 2003 opening up the possibility of international services • Prospects for improvements, e.g. in commercial operations and efficiency in future capex

  24. | Annual presentation 2003 | Traffic Hainan Meilan Airport 2003 24 24 6.0 million passengers in 2003 (+7.7%)

  25. | Annual presentation 2003 | Newcastle International Airport Ltd, 25 • Copenhagen Airports owns 49% of NIAL Holdings Plc. which owns 100% of the operating company Newcastle International Airport Ltd. • 15-year TSA agreement between NIAL and Copenhagen Airports covering consultancy services on a strategic and operational level as well as a performance related fee • Newcastle International Airport dominates the region as the main airport for the North East and has further consolidated that position in 2003 with a passenger growth of 15.3% corresponding to 3.9 million passengers • On top of a well-balanced passenger mix, NIAL introduced an easyJet low cost base operation • Major investments already in place • Re-focus on the commercial opportunities including remodelling of the terminal

  26. | Annual presentation 2003 |Traffic Newcastle Airport 2003 26 26 3.9 million passengers in 2003 (+15.3%)

  27. | Annual presentation 2003 |Newcastle International Airport 27 27

  28. | Annual presentation 2003 | ASUR 28 • Copenhagen Airports owns, directly and indirectly, 6.3% of the shares in Grupo Aeroportuario del Sureste, S.A. de C.V. (ASUR) • ASUR is a 100% privatised airport company listed on the NYSE and the Mexican Stock Exchange • ASUR has the right to operate and develop nine airports in the south-eastern part of Mexico during a 50-year concession period • Copenhagen Airports has a 25.5% share in ITA, which has a 15-year technical services agreement with ASUR • 12.2 million passengers in 2003 corresponding to an increase of 10.8% compared with 2002 • New master development programmes, investment plans and airport charges for 2004-2008 were approved by the Mexican authorities in 2003 • Strong growth potential in small and medium-sized regional airports with limited capex requirements • Further growth potential in the non-aeronautical business areas (duty-free, retail, F&B, etc.) • High EBITDA margin and strong cash flow

  29. | Annual presentation 2003 | Traffic nine Mexican airports 2003 29 12.2 million passengers in 2003 (+10.9%)

  30. | Annual presentation 2003 | Appendices 30 Appendices

  31. | Annual presentation 2003 | Appendices | Income statement and balance sheet 31

  32. | Annual presentation 2003 | Appendices | Airport charges index 2003 32 Based on total tariffs: terminal navigation charge, landing fee, parking charges and passenger charges. The higher rating, the more expensive. The benchmark comprises a total of 50 airports. Airport charges index 2003 Source: Transport Research Laboratory 2003

  33. | Annual presentation 2003 | Appendices | Runways 33

  34. | Annual presentation 2003 | Appendices | Denmark and the Oresund region 34

  35. | Annual presentation 2003 | Appendices |Copenhagen Airport facilities 2003 35 35 Shopping centre area - Airside: 6,462,1 sqm - Landside: 298,1 sqm - 9 duty-free stores - 38 specialty stores - 18 food and beverage outlets Total area - 11,8 sqkm

  36. | Annual presentation 2003 | Appendices |Financial calendar 2004 36 36

  37. Copenhagen Airports A/SP.O. Box 74Lufthavnsboulevarden 6DK-2770 KastrupTelephone: 0045 32 31 32 31Telefax: 0045 32 31 31 32CVR-no: 14 70 72 04Website: www.cph.dk Senior Vice President, CFOTorben ThyregodTelephone: 0045 32 31 22 31E-mail: torben.thyregod@cph.dk Vice President, Head of IRFlemming PetersenTelephone: 0045 32 31 22 12E-mail: f.petersen@cph.dk | Annual presentation 2003 | Appendices |Contacts 37 37