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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news