Auckland International Airport Limited Analysis

Overview

The airport commenced operations in 1955 and has grown significantly in the intervening period. It is the major gateway to NZ and its revenue base comprises of airport operations (landing charges and passenger levies - approximately 48% of the total), with the balance from concession revenue, terminal charges, rents and car parking.

AIA listed in July 1998 following sale of the NZ Government's interest of 217 million shares (51.6% of equity), at $1.80 per share.

Performance

The following information was extracted from Auckland International Airport Limited's full year results, released on 22 August 2024:

FY24 results: Solid performance as international airlines return to AKL

Key performance data for the 12 months to 30 June 2024:

• Total number of passengers increased to 18.5 million, up 17%
• Domestic passenger numbers increased 5% to 8.5 million, and international passenger numbers (including transits) increased 29% to 10.1 million
• Revenue was up 43% to $895.5 million
• Operating EBITDAFI was up 55% to $614.0 million
• Reported profit after tax was down 87% to $5.5 million
• Earnings per share was down 86% to 0.37 cents
• Net underlying profit after tax of $276.6 million, up 87%
• Net underlying profit per share of 18.75 cents
• 6.5 cents per share final dividend will be paid on 4 October 2024

Auckland Airport today announced its financial results for the year to 30 June 2024.

Auckland Airport Chair Patrick Strange said the FY24 financial year has been marked by the strong return of international airline capacity, including several new carriers and routes, with seat availability to international destinations at 91% of 2019 levels.