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 half year results, released on 20 February 2025:

1H25 results: Increased demand from Kiwis for international travel offsets subdued domestic aviation market conditions

Key performance data for the six months to 31 December 2024:

• Total number of passengers increased 2.3% to 9.46 million
• Domestic passenger numbers increased 0.1% to 4.27 million, and international passenger numbers (including transits) increased 4.1% to 5.19 million
• Revenue was up 13% to $499.9 million. Excluding interest income, revenue was up 11% to $484.2 million
• Operating EBITDAFI(1) was up 13% to $349.6 million
• Net underlying profit after tax(1) was up 2% to $148.1 million
• Reported profit after tax (2) including revaluations was up 58% to $187.3 million
• An interim dividend of 6.25 cents per share will be paid on 4 April 2025. Total dividends declared of $105.1 million.

Auckland Airport today announced its financial results for the six months to 31 December 2024.

Auckland Airport Chair Julia Hoare said demand for travel was solid during the first half of the 2025 financial year (FY25), although growth was more subdued than expected due to market conditions.