Ann: HALFYR: AIA: Auckland Airport continues strong momentum

• Release Date: 19/02/16 08:54
• Summary: HALFYR: AIA: Auckland Airport continues strong momentum
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					AIA
19/02/2016 08:54
HALFYR
PRICE SENSITIVE
REL: 0854 HRS Auckland International Airport Limited

HALFYR: AIA: Auckland Airport continues strong momentum

Media Release | 19 February 2016

Auckland Airport continues strong momentum as it steps up investment to
support future growth

Auckland Airport has today announced its interim results for the six months
to 31 December 2015.

Auckland Airport Chair, Sir Henry van der Heyden, says, "We are delighted to
announce that the company has delivered a strong set of results for the six
months to 31 December 2015."
"We have continued to see growth right across our business, which has been
underpinned by new routes, new airlines and increasing passenger numbers."

"This growth pleasingly occurs at a time when we have lifted our capital
investment programme, ensuring we can upgrade and expand our terminals and
airfield capacity for passengers and airlines, in turn delivering real
benefits to the travelling public and continuing our intent of building an
important regional hub for Asia Pacific aviation."

In October 2015, Auckland Airport updated its forecast capital expenditure
for the 2016 financial year to be between $230 million and $260 million, as a
direct result of the strong growth across the business, especially from those
parts driven by tourism and property.

The total number of passenger movements was up 6.7% to 8.4 million, with
international passengers (excluding transits) up 7.2% to 4.3 million and
domestic passengers up 6.2% to 3.9 million. Revenue was up 11.6% to $280.6
million. Earnings before interest expense, taxation, depreciation, fair value
adjustments and investments in associates (EBITDAFI) increased 13% to $213.5
million. Total profit after tax was up 24.8% to $115.8 million while
underlying profit after tax increased 18.6% to $104.1 million. Underlying
earnings per share has continued to increase, up 18.6% to 8.7 cents per
share, and the interim dividend for the six months to 31 December 2015 is
lifted to 8.5 cents per share.

"This performance has only been possible through the commitment and hard work
of Auckland Airport's staff, contractors and consultants, as well as the
ongoing efforts of airline and tourism partners, the Government's border
agencies and everyone else who works at the airport."

"Revenue growth was underpinned by strong retail performance, as well as
favourable growth in aeronautical, property rental and transport income. Our
total share of profit from associates was $4.1 million for the first six
months of the 2016 financial year, down 24.1%. The profit share from
Queenstown Airport was up 25.8% to $1.5 million. The share from North
Queensland Airports was down 50% to $1.8 million due to our share of an
unfavourable fair value movement in derivative financial instruments of $2.7
million. After reversing that movement its underlying profit was up 25.5% to
$4.5 million. Our profit share from the Novotel hotel was up 33.3% to $0.8
million."

"In consideration of our strong growth and performance in the first six
months of this financial year, Auckland Airport is now lifting and tightening
its guidance for the full year to be between $200 million and $206 million.
This updated guidance would deliver an increase in underlying earnings per
share of between 13.4% and 16.8%. It is subject to any material adverse
events, significant one-off expenses, non-cash fair value changes to
property, and deterioration as a result of global market conditions or other
unforeseeable circumstances," says Sir Henry.

The interim dividend for the six months to 31 December 2015 is lifted to 8.5
cents per share. It is imputed at the company tax rate of 28% and will be
paid on 7 April 2016 to shareholders who are on the register at the close of
business on 24 March 2016.

Ends

For further information please contact:
Simon Lambourne
+64 27 477 6120
[email protected]
End CA:00277941 For:AIA    Type:HALFYR     Time:2016-02-19 08:54:55