Ongoing construction due to the terminal rebuild will contribute to uncertainty around the airport's outlook, its chief executive says. Photo: Supplied / Greg Bowker
Auckland Airport's bottom line has lifted strongly after last year's results were affected by a tax bill, while underlying profit also rose, as rental income improved, it increased aeronautical charges and had lower interest and tax expenses.
Key numbers for the 12 months ended June compared with a year ago:
- Net profit $420.7m vs $5.5m
- Revenue $1.0b vs $895.5m
- Underlying profit $310.4m vs $276.6m
- Taxation expense $133.5m vs $337.8m
- Passenger numbers 18.7m vs 18.5m
- Final dividend 7 cents per share vs 6.5 cps
Airfield income rose by $20.4 million, passenger services income increased by $36.6m and rental income was also up, by $22.6m.
The previous year's bottom line was affected by a significant tax bill due to a change in government policy on depreciation of building structures.
Passenger numbers were only slightly higher due to the soft recovery in travel volumes, with the airport saying international seat capacity stabilised at 92 percent of 2019 levels.
Auckland Airport chair Julia Hoare said recovering and growing airline seat capacity was a top priority for the airport.
"International airlines continue to have to prioritise their available fleet in the short term, but the future outlook remains positive with New Zealand well-positioned for growth - boosted by several airline partners announcing new routes and expanded capacity for the coming summer."
Carrie Hurihanganui Photo: Supplied / Greg Bowker
Overall domestic capacity was steady despite Jetstar growing its capacity by 14 percent, largely due to Air New Zealand's ongoing engine and fleet issues.
Chief executive Carrie Hurihanganui said it was a solid performance despite seat capacity constraints.
"As we navigate through these challenges, we continue to be focused on prudent cost management and delivering the resilient and fit-for-purpose gateway New Zealand needs to maintain our competitiveness as a nation."
Looking ahead, Hurihanganui said airline seat capacity constraints, a weaker domestic economy, global geopolitics and ongoing construction due to the terminal rebuild would contribute to uncertainty around the outlook.
Auckland Airport projected domestic and international passenger numbers of 19.2m in the year ending June 2026, and an underlying earnings guidance of between $280m and $320m.
A China Eastern flight at Auckland International Airport. Photo: Supplied / Greg Bowker Visuals
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