Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Another 12 months of strong performance

Media Release l 26 August 2014
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


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Fairfax Moves To Create Modern Newsroom

Fairfax Media New Zealand continues its newsroom transformation this week, with a proposal to further organise its editorial operations into focused, local teams and specialist national topic areas. More>>

ALSO:

Dairy: Fonterra Forecast For 2015/16 Season

Fonterra Co-operative Group Limited has today reduced its forecast Farmgate Milk Price for the 2014/15 season to $4.40 per kgMS. Along with its previously announced forecast dividend range of 20-30 cents per share, the change amounts to a forecast ... More>>

ALSO:

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>


BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>

Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news