Ann: FLLYR: AIA: Auckland Airport announces strong FY15 performance

• Release Date: 24/08/15 09:01
• Summary: FLLYR: AIA: Auckland Airport announces strong FY15 performance
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					AIA
24/08/2015 09:01
FLLYR
PRICE SENSITIVE
REL: 0901 HRS Auckland International Airport Limited

FLLYR: AIA: Auckland Airport announces strong FY15 performance

Media Release l 24 August 2015

Auckland Airport announces strong FY15 performance, underpinned by New
Zealand tourism growth
Auckland Airport has today announced its annual results for the financial
year to 30 June 2015.
Auckland Airport Chair, Sir Henry van der Heyden, says, "The 2015 financial
year was another 12 months of excellent performance across our business,
which has underpinned an increase in the value of our company and outstanding
returns to our shareholders."
"Total passenger movements through Auckland Airport were up 5% to
15.8 million, with international passengers up 5.7% to 8.1 million,
international transit passengers up 6.7% to 0.5 million and domestic
passengers up 4.2% to 7.2 million. This growth reflects the very positive
trends in the New Zealand tourism industry, which includes a shift towards
high-value international visitors."
"In the 2015 financial year, Auckland Airport continued to implement its
strategic business plan: Faster, Higher, Stronger. This has delivered
immediate benefits - including in technology, retail and aeronautical
infrastructure - and has positioned us to take full advantage of future
opportunities. In particular, our property development business has performed
very well in the 2015 financial year."
"We have continued to see new airline routes, services and capacity. We have
introduced two new duty free operators and exciting fashion, food and
beverage retailers in our terminals. Our collaborative work with partners has
improved the efficiency of airport operations and has delivered important
benefits for our passengers. Also, we have started to deliver the
infrastructure anticipated in our 30-year vision for the airport of the
future."
Total profit after tax was up by 3.5% to $223.5 million while underlying
profit after tax increased by 3.8% to $176.4 million. The final dividend paid
to shareholders for the year is 7.3 cents per share, delivering a total
dividend for the 2015 financial year of 14.6 cents per share - reflecting an
increase of 12.9% in underlying earnings per share for our investors the past
12 months.
Revenue was up by 6.9% to $508.5 million. Earnings before interest expense,
taxation, depreciation, fair value adjustments and investments in associates
(EBITDAFI) increased by 7% to $380 million.
Sir Henry says that revenue growth was achieved once again through strong
aeronautical performance (landing and passenger charges up by 6.9% to $234.2
million) and property rentals (up by 8.9% to $64.6 million). Operating
expenses increased by 6.6% to $128.5 million, with asset maintenance and
operations costs up by 9.7% to $44.2 million, in part due to additional
outsourcing costs for valet parking, Park&Ride and other services. As a
result of continued strong company and share price performance, the accrual
of short-term and long-term incentive provisions increased staff costs by
8.9% to $46.3 million.
The total share of profit from our associates was $12.5 million this
financial year, an increase of 7.8% on the previous year. Our profit share
from Queenstown Airport was up by 25.8% to $2.1 million and from Novotel
hotel up by 68.4% to $3.2 million. Our profit share from North Queensland
Airports decreased by 9.8% to $7.2 million, reflecting a softening Australian
economy, as well as the amortisation of fair value movements of interest rate
derivatives that were closed out early and replaced by more favourable hedges
going forward.
Sir Henry says, "The final dividend of 7.3 cents per share is imputed at the
company tax rate of 28% and will be paid on 16 October 2015 to shareholders
who are on the register at the close of business on 2 October 2015."
"Auckland Airport will continue to deliver for its investors in the 2016
financial year. We expect underlying net profit after tax (excluding any fair
value changes and other one-off items) to be between $183 million and
$191 million. As always, this guidance is subject to any material adverse
events, significant one-off expenses, non-cash fair value changes to property
and financial derivatives and deterioration due to global market conditions
or other unforeseeable circumstances."

Ends

For further information please contact:
Simon Lambourne
+64 27 477 6120
[email protected]
End CA:00268908 For:AIA    Type:FLLYR      Time:2015-08-24 09:01:54