Københavns Lufthavne A/S develops, owns, and operates Roskilde Airport at Roskilde and Copenhagen Airport at Kastrup in Denmark.
Questionable track record with imperfect balance sheet.
Share Price & News
How has Københavns Lufthavne's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: KBHL has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: KBHL exceeded the Danish Infrastructure industry which returned -35.3% over the past year.
Return vs Market: KBHL underperformed the Danish Market which returned -0.6% over the past year.
Price Volatility Vs. Market
How volatile is Københavns Lufthavne's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall StWe Think Københavns Lufthavne (CPH:KBHL) Is Taking Some Risk With Its Debt
1 month ago | Simply Wall StDo Investors Have Good Reason To Be Wary Of Københavns Lufthavne A/S's (CPH:KBHL) 2.5% Dividend Yield?
2 months ago | Simply Wall StIs Københavns Lufthavne A/S's (CPH:KBHL) ROE Of 34% Impressive?
Is Københavns Lufthavne undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: KBHL (DKK4740) is trading above our estimate of fair value (DKK2.03)
Significantly Below Fair Value: KBHL is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: KBHL is poor value based on its PE Ratio (36.5x) compared to the Infrastructure industry average (11.1x).
PE vs Market: KBHL is poor value based on its PE Ratio (36.5x) compared to the Danish market (12x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate KBHL's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: KBHL is overvalued based on its PB Ratio (11.4x) compared to the XE Infrastructure industry average (1.1x).
How is Københavns Lufthavne forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Transportation industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Københavns Lufthavne has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Take a look at our analysis of KBHL’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
- Københavns Lufthavne competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Transportation industry.
How has Københavns Lufthavne performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: KBHL has high quality earnings.
Growing Profit Margin: KBHL's current net profit margins (23.5%) are lower than last year (24.9%).
Past Earnings Growth Analysis
Earnings Trend: KBHL's earnings have grown by 1.1% per year over the past 5 years.
Accelerating Growth: KBHL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: KBHL had negative earnings growth (-7.7%) over the past year, making it difficult to compare to the Infrastructure industry average (6.9%).
Return on Equity
High ROE: Whilst KBHL's Return on Equity (31.31%) is high, this metric is skewed due to their high level of debt.
How is Københavns Lufthavne's financial position?
Financial Position Analysis
Short Term Liabilities: KBHL's short term assets (DKK643.8M) do not cover its short term liabilities (DKK3.7B).
Long Term Liabilities: KBHL's short term assets (DKK643.8M) do not cover its long term liabilities (DKK7.2B).
Debt to Equity History and Analysis
Debt Level: KBHL's debt to equity ratio (257.5%) is considered high.
Reducing Debt: KBHL's debt to equity ratio has increased from 168% to 257.5% over the past 5 years.
Debt Coverage: KBHL's debt is well covered by operating cash flow (21.1%).
Interest Coverage: KBHL's interest payments on its debt are well covered by EBIT (10.5x coverage).
Inventory Level: KBHL has a high level of physical assets or inventory.
Debt Coverage by Assets: KBHL's debt is not covered by short term assets (assets are 0.1x debt).
What is Københavns Lufthavne's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate KBHL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate KBHL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if KBHL's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if KBHL's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: KBHL is not paying a notable dividend for the Danish market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of KBHL's dividend in 3 years as they are not forecast to pay a notable one for the Danish market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Thomas Woldbye (55yo)
Mr. Thomas Woldbye has been the Chief Executive Officer of Copenhagen Airports International A/S since May 1, 2011 and serves as its President. Mr. Woldbye has been the Chief Executive Officer at København ...
|Chief Executive Officer||8.83yrs||ø8.40m||no data|
|Chief Financial Officer||1.25yrs||no data||no data|
|CTO & CIO||8.92yrs||no data||no data|
|General Counsel||no data||no data||no data|
|Communication Director and VP of Corporate Responsibility||no data||no data||no data|
|HR Director||2.17yrs||no data||no data|
|Head of Environmental Affairs||no data||no data||no data|
|Chief Commercial Officer||5.5yrs||no data||no data|
|Controller||no data||no data||no data|
Experienced Management: KBHL's management team is seasoned and experienced (5.5 years average tenure).
|Independent Chairman||5.92yrs||ø1.00m||no data|
|Independent Director||8yrs||ø500.00k||no data|
|Deputy Chairman||8.42yrs||no data||no data|
|Director||4.92yrs||no data||no data|
|Deputy Chairman||2.25yrs||no data||no data|
|Employee Representative Director||5.17yrs||ø300.00k||0.000010% DKK3.7k|
|Employee Representative Director||5.17yrs||ø300.00k||no data|
|Independent Director||1.92yrs||ø300.00k||no data|
|Employee Representative Director||0.92yr||ø300.00k||no data|
|Alternate Director||1yr||no data||no data|
Experienced Board: KBHL's board of directors are considered experienced (5 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Københavns Lufthavne A/S's company bio, employee growth, exchange listings and data sources
- Name: Københavns Lufthavne A/S
- Ticker: KBHL
- Exchange: CPSE
- Founded: 1990
- Industry: Airport Services
- Sector: Transportation
- Market Cap: ø37.200b
- Shares outstanding: 7.85m
- Website: https://www.cph.dk
Number of Employees
- Københavns Lufthavne A/S
- Lufthavnsboulevarden 6
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|KBHL||CPSE (OMX Nordic Exchange Copenhagen)||Yes||Share Capital||DK||DKK||Apr 1994|
|KLH||DB (Deutsche Boerse AG)||Yes||Share Capital||DE||EUR||Apr 1994|
|0EYJ||LSE (London Stock Exchange)||Yes||Share Capital||GB||DKK||Apr 1994|
|KBHLC||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Share Capital||GB||DKK||Apr 1994|
Københavns Lufthavne A/S develops, owns, and operates Roskilde Airport at Roskilde and Copenhagen Airport at Kastrup in Denmark. The company operates in two segments, Aeronautical and Non-Aeronautical. The Aeronautical segment comprises infrastructure and services relating to air traffic, including route development, baggage systems, and security; and operation and development of technical systems, terminals, IT, aircraft stands, taxiways, and runways. The Non-Aeronautical segment comprises activities, such as parking; terminal services, such as restaurants and shops; hotel activities; and letting in the airport area. This segment is also involved in leasing company’s buildings, premises, and land, as well as the provision of consulting services concerning airport operation and other services. The company also serves concessionaires in the shopping center, as well as tenants. The company was founded in 1990 and is based in Kastrup, Denmark. Københavns Lufthavne A/S is a subsidiary of Copenhagen Airports Denmark ApS.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/30 20:49|
|End of Day Share Price||2020/03/30 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.