Auckland Annual Results: FY18

New Zealand, Auckland,

Auckland Airport has announced its financial results for the 12 months ended June 30, 2018.  Its performance highlights included:

Passengers increased by 5.7% to 20.5 million.

International and domestic MCTOW increased by 3.4% (up to 5,798,018 tonnes) and 4.6% (up to 2,341,699) respectively.

Operating EBITDAFI up by 7% to NZ$506.4 million.

Total profit after tax rose 95.3% to $650.1 million (including the sale of North Queensland Airport holding).

Underlying profit after tax was up 6.2% to $263.1 million.

Underlying earnings per share rose 5.8% to 22.0 cents.

Final dividend increased 4.8% to 11.00 cents per share.

Proceeds from the AUD$370 million sale of North Queensland Airport holding used to reinvest in core aeronautical infrastructure as well as retire debt.

Strong growth in total passenger numbers at Queenstown Airport which increased by 13.1% (or 248,226 passengers) in 2018.

 

Sir Henry van der Heyden, Auckland Airport’s Chair, commented: “In the past year we built further momentum in delivering on our infrastructure plans and in reshaping our business to match the needs of our new development era and changing travel and trade markets.  The sale of our stake in North Queensland Airports, the investment in new transport projects and the roll out of new operations and service initiatives have reinforced our focus on business in New Zealand and on taking care of customers during our [NZ]$2 billion aeronautical infrastructure development programme – one of the most significant in the country.”

Sir Henry added: “We were also pleased that our objective of sharing the benefits of our investment programme with our local community continued to gather momentum with hundreds of new jobs created.  Our jobs and skills hub, ‘Ara’, has provided valuable training and employment opportunities for local people, placing 215 people into new jobs.  In 2018 we also received recognition for our efforts over the past decade to minimise our impact on the environment and we became the first company in Oceania and the first airport in the world to set a publicly disclosed carbon reduction target based on the UN-supported Science Based Targets initiative.  We were also recognised by Enviro-Mark as one of NZ’s top carbon reducers in the past year.”

He concluded: “The aviation market continues to be dynamic with many changes throughout 2018 as airline alliances and network plans evolved. Following the success of its Dubai direct service, in March 2018 Emirates withdrew its A380 services from the Tasman market and added a new service to Dubai via Bali.  At the same time existing Tasman carriers including Air New Zealand, Qantas and Virgin announced new services replacing much of the Tasman seat capacity lost by Emirates. Auckland Airport has responded well to these changes and it highlights the importance to Auckland Airport in maintaining a long-term view on infrastructure requirements rather than simply reflecting the airline alliances and business models of today.”