Ann: HALFYR: AIA: AIAL announces strong interim result for 2015...

• Release Date: 20/02/15 08:43
• Summary: HALFYR: AIA: AIAL announces strong interim result for 2015 financial yr
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					AIA
20/02/2015 08:43
HALFYR
PRICE SENSITIVE
REL: 0843 HRS Auckland International Airport Limited

HALFYR: AIA: AIAL announces strong interim result for 2015 financial yr

Media Release l 20 February 2015

Auckland Airport announces strong interim result for 2015 financial year
Auckland Airport has today announced its interim results for the six months
to 31 December 2014.
The total number of passenger movements was up by 3.8% to 7.9 million, with
international passengers (including transits) up by 4.4% to 4.3 million and
domestic passengers up by 3.1% to 3.6 million.
Revenue was up by 5.4% to $251.4 million. Earnings before interest expense,
taxation, depreciation, fair value adjustments and investments in associates
(EBITDAFI) increased by 6.3% to $189.1 million. Total profit after tax was up
by 8.1% to $92.8 million while underlying profit after tax increased by 1.3%
to $87.8 million.
Underlying earnings per share has continued to increase, up by 12.5% to
7.38 cents per share, and the interim dividend for the six months to
31 December 2014 is 7.3 cents per share.
Auckland Airport Chair, Sir Henry van der Heyden, says, "We are pleased to
announce a strong interim result for the six months to 31 December 2014.
These results demonstrate that we have maintained our growth momentum of
recent years."
"We have continued to implement our strategy of growing travel markets,
strengthening our consumer businesses, achieving operational efficiencies and
investing in our property and long-term infrastructure."
"This has resulted in new air routes, capacity and services; new retailers to
provide our passengers with a growing range of products and services that
represent some of the best of New Zealand and the World; and the delivery of
new and upgraded infrastructure in our domestic and international terminals.
We have also invested significant time and effort in planning the future
infrastructure requirements required to implement our 30-year vision."
"Our 5.4% increase in revenue was, in part, achieved as a result of strong
aeronautical performance, property rental and transport income. Our total
share of profit from associates was $5.4 million for the six months to 31
December 2014, up by 11.4%. The profit share from the Queenstown Airport was
up by 22.8% to $1.2 million, while the share from North Queensland Airports
was up by 14.9% to $3.7 million. Our profit share from the Novotel hotel was
down 18.6% to $0.6 million, due to the impact of positive fair value
adjustments of derivatives in the comparative period."
"As previously signalled, the Company has been running a tender to operate
our duty free retail from 1 July 2015. Following a detailed assessment of
proposals from some of the World's leading duty free operators, we have
selected LS Travel Retail Pacific and Aer Rianta International to provide our
international travellers with high-quality duty free retail experiences. As a
result of the duty free tender, and other changes in specialty stores, we are
expecting an additional $5 million in earnings before interest, tax and
depreciation in the 2016 financial year."
"We would like to thank DFS and JR Duty Free for their great contribution to
our passengers' experience during their time operating at Auckland Airport.
DFS and JR Duty Free are both great retailers and we look forward to
continuing to work with them through to the end of June this year."
"In consideration of our performance and growth momentum in the first six
months of this financial year, Auckland Airport is now lifting its guidance
for the full year to be between $167 million and $174 million. This updated
guidance would deliver an increase in underlying earnings per share of
between 7% and 11% for our investors. It 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.
The interim dividend of 7.3 cents per share is imputed at the company tax
rate of 28% and will be paid on 2 April 2015 to shareholders who are on the
register at the close of business on 19 March 2015.

Ends

For further information please contact:
Simon Lambourne
+64 9 255 9089
+64 27 477 6120
[email protected]
End CA:00260910 For:AIA    Type:HALFYR     Time:2015-02-20 08:43:50