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Auckland Airport’s annual Chairman’s address

Media Release | 29.10.09

Auckland Airport’s annual meeting Chairman’s address

Despite the challenging and extraordinary business conditions which have had a significant adverse effect on the aeronautical industry in New Zealand and abroad, we achieved a sound financial and operational performance over the 12 months to June 2009.

Our underlying net profit after tax of $105.9 million was an increase of 2.1 percent over the previous year, and our revenue grew 5.2 percent to $369.2 million. Operating earnings before interest, tax and depreciation increased 1.6 percent to $280.4 million, and our capital expenditure was down 38.7 percent to $87.6 million. This all reflected our efforts to target key markets, drive greater yield and tightly manage ongoing costs. The mandatory recognition of the unrealised $64.5 million decline in value of investment properties reduced the reported profit to $41.7 million.

Operationally, we are tremendously proud to have been recognised by more than 8.2 million travellers in the 2009 Skytrax World Airport Awards as one of the 10 best airports in the world. We believe this is an enormous achievement for an airport of the scale and location of Auckland.

Our increased investment and focus on aeronautical business development to grow the air-services that are so critical to New Zealand are bearing fruit. During the year, we added Pacific Blue and Jetstar to our international airline stable and this is helping drive demand for trans-Tasman travel.

Read The Full Address Here (pdf)

ENDS

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