Auckland Airport has posted $274.7 million underlying profit after tax, up 4.4% for the 12 months to June 30.
The total number of passengers increased 2.8% year-on-year to 21.1 million. Operating earnings before tax (EBITDAFI) increased 9.6% to $554.8 million.
Total profit after tax was down 19.5% to $523.5 million. Prior year earnings included a $297.4m gain on the sale of the company’s 24.6 per cent stake in North Queensland Airports.
Chair Patrick Strange says it was “another year of growth and we are pleased with the progress we have made on our 30-year vision to build an airport of the future”.
“We achieved several milestones in the 2019 financial year as part of our infrastructure development programme, including work beginning on two of our eight key anchor infrastructure projects – our airfield expansion and a major upgrade of the inner core of our roading network.
“We also delivered strong results for our customers, with the completion of significant transport projects and the multi-stage redevelopment of the departure area at the international terminal.”
It was another record year for traveller numbers at both the international and domestic terminals, although growth was slower than in recent years.
International passenger numbers including transits reached 11.5 million (up 2.2% on the previous year). Domestic passenger numbers reached 9.6 million (up 3.6% on the previous year).
The upgrade and expansion of Auckland Airport’s 36,000m2 international terminal departure area was completed during the period.
The growth in Auckland Airport’s investment property business was another highlight for the 2019 financial year. Auckland Airport now owns and manages one of New Zealand’s largest premium investment-grade portfolios, with an estimated value of $1.7 billion and a committed rent roll of $100 million.
Chief executive Adrian Littlewood says the airport remains focused on the delivery of long-term core infrastructure projects.
“In the financial year 2019, we delivered transport upgrades that have reduced travel times, such as the completion of the Nixon Road bypass between State Highways 20A and 20B and the Landing Road intersection upgrade, in partnership with NZTA.
“We acknowledge the importance of safe and efficient transport options for travellers to get to, from and around the airport and we are advocating on their behalf and working closely with our government partners to deliver meaningful improvements.
“In June 2019 we began our largest airfield project in decades – a 250,000m2 pavement expansion to accommodate the number of aircraft expected by 2044, flying an estimated 40 million travellers each year. As one of eight key anchor projects to begin at Auckland Airport over the next decade, the development includes new taxiways and remote stands for the parking and servicing of aircraft – increasing the surface area of the airfield by 18%.
“We reached a milestone for another key anchor project in June 2019, with a contract being awarded for the Northern Network. The project will expand the roading network to the north of the existing terminals to improve traffic flows, enable public transport and upgrade and strengthen underground utilities – all to support the future terminal and runway developments.
“In the financial year 2019, we also continued to carry out works to upgrade the existing domestic terminal to improve the experience for our customers while we prioritise our plans for a new domestic jet facility to be integrated into the international terminal.
“These transformational projects are just a few of more than 200 projects either planned or underway at Auckland Airport, as part of a highly complex infrastructure development programme being rolled out in one of our country’s busiest development precincts,” Littlewood says.
