Ann: FLLYR: AIA: AIA announces another 12 months of strong...

• Release Date: 26/08/14 08:41
• Summary: FLLYR: AIA: AIA announces another 12 months of strong performance
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					AIA
26/08/2014 08:40
FLLYR

REL: 0840 HRS Auckland International Airport Limited

FLLYR: AIA: AIA announces another 12 months of strong performance

Auckland Airport announces another 12 months of strong performance

Auckland Airport has today announced its annual results for the financial
year to 30 June 2014.

Total profit after tax was up 21.3% to $215.9 million, while underlying
profit after tax increased by 10.5% to $169.9 million. The final dividend
paid to shareholders for the year increases by 12% to 7 cents per share,
imputed at the company tax rate of 28%, and is in addition to the $454
million capital returned to shareholders during the financial year.

Total revenue was up 6.1% to $475.8 million. Earnings before interest
expense, taxation, depreciation, fair value adjustments and investments in
associates (EBITDAFI) increased by 7.4% to $355.2 million. Total passenger
movements were up 3.8% to 15.1 million, with international passengers up 5.1%
to 8.2 million and domestic passengers up 2.2% to 6.9 million.

Chair, Sir Henry van der Heyden, says, "This financial year we have continued
to implement Auckland Airport's Faster, Higher, Stronger strategy. In
particular, we have focused on growing travel markets and investing in the
retail, property and long-term infrastructure we need to take full advantage
of growth opportunities."

"As a result we have seen additional airline capacity and services into
Auckland, we have announced our 30-year vision for the 'airport of the
future', and we have delivered significant improvements for passengers,
retailers and property tenants and maintained our focus on driving efficiency
and effectiveness throughout the business. Strong execution of our strategic
priorities has ensured we are delivering for investors and that we are
strongly positioned for our future. This underlying strength has enabled us
to return $454 million of capital to shareholders this financial year."

Sir Henry says that revenue growth was achieved through strong aeronautical
performance (up 8.6% or $17.3 million), property (up 7% or $3.8 million) and
car parking (up 6.1% or $2.4 million). Expenses were up 2.6% to $120.6
million, with the main contributors being outsourcing expenses, up 9% due to
the increasing number of passengers using our Park&Ride service, and staff
costs, up 6.4% due to the accrual of long-term incentive provisions as a
result of continued strong company and share price performance.

Auckland Airport's share of profit from associates totalled $11.6 million
this financial year, an increase of 17.2% on the previous year. Our profit
share from North Queensland Airports increased by 15.2% to $8.1 million,
while Queenstown Airport was up 25.7% to $1.7 million and the Novotel hotel
up 19.2% to $1.9 million.

Sir Henry says, "The final dividend of 7 cents, imputed at the company tax
rate of 28%, will be paid on 17 October 2014 to shareholders who are on the
register at the close of business on 3 October 2014."

"We are confident in Auckland Airport's ability to unlock further
opportunities in the 2015 financial year. We expect underlying net profit
after tax (excluding any fair value changes and other one-off items) to be
between $160 million and $170 million. Due to the 10% reduction in the number
of shares on issue following the capital return, this guidance would be a
lift in earnings per share of between 2% and 9%. This guidance is subject to
any material adverse events, significant one-off expenses, non-cash fair
value changes to property and deterioration due to global market conditions
or other unforeseeable circumstances," says Sir Henry.

Ends

For further information please contact:
Simon Lambourne
+64 9 255 9089
+64 27 477 6120
[email protected]
End CA:00254374 For:AIA    Type:FLLYR      Time:2014-08-26 08:41:00