Kobenhavns Lufthavne: Wait For The Buy Offer From The Danish State

2025-04-08 14:59:13 ET

Summary

• Københavns Lufthavne A/S, aka Copenhagen Airport, has shown strong growth, with a 25% revenue increase and 53% EBITDA growth in 2024, driven by higher unit revenues and increased passenger traffic.
• The Danish State's acquisition of a 59.4% stake in Copenhagen Airport has led to a 60% stock price jump, with a potential 6% upside remaining.
• Despite the airport's capacity expansion plans and solid performance, the limited free float and modest upside do not justify a buy rating currently.
• Hold Copenhagen Airport stock to capitalize on the Danish State's expected offer for the remaining shares, pending the completion of the stake transfer.

Airport infrastructure is one of the areas that I cover. My coverage includes airports in Mexico, but also Europe, Asia, and Oceania. In this report, I am adding Københavns Lufthavne A/S ( CPNHF ), or Copenhagen Airport , to my coverage....

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