NEW ZEALAND. Auckland International Airport Limited (AIAL) this morning announced a +12.0% increase in post-tax profit to NZ$105.6 million (US$73.7 million) for the year ended 30 June 2005.
The result was driven by continued strong growth in passenger and aircraft movements, with total passengers for the year exceeding 11 million for the first time.
Revenue was up +7.7% to NZ$282.6 million (US$197.1 million). Growth in revenues continued across the board in both the aeronautical and non-aeronautical areas of the business, the company said (for retail performance update click here).
With the company’s tight control of its operating expenses, earnings before interest, taxation and depreciation (EBITDA) increased +8.7% to NZ$221.4 million (US$154 million).
The total number of passengers through the airport increased +4.6% to 11,256,077 (including transit passengers), with international passenger movements up +5.2% to 6,432,161.
Airport Chief Executive Don Huse said: “We are very pleased with another record financial result. The continued growth in earnings once again highlights the strong and stable business position and long-term prospects of Auckland Airport.”
Based on project work in progress and current planning, the airport company said capital expenditure will be around NZ$135 million to NZ$150 million each year for the next three years. This includes an expansion of the international terminal, a new pier to the international terminal, new car parking facilities and an upgrade of the domestic terminal.
AIAL Chairman Wayne Boyd commented, “The company has established a very solid platform for the next significant stage of its growth. The strong business and financial position, detailed planning in conjunction with key stakeholders and the recent senior management appointments all provide directors with the confidence necessary to commit to the next stage of the company’s development programme. This will ultimately provide for the region’s commercial aviation needs for the next 50 years and beyond.
Huse commented that tourism and travel remains a strong growth industry. “This year we have seen further increases in travel by New Zealanders and Australians, stimulated in particular by a continuation of the competitive fare structures and strong marketing initiatives by new airlines, together with the introduction by Air New Zealand of its lower-fare Pacific Class international services. These services have provided travellers, especially on trans-Tasman routes, with a wider range of lower fare and schedule options.”
MORE STORIES ON AUCKLAND INTERNATIONAL AIRPORT
Auckland Airport roars ahead thanks to Lions and Japanese visitor bounce-back in June – 05/08/05
Auckland Airport tries to cheer up Lions supporters with ‘win a VW Golf GTi’ promotion – 27/06/05
Auckland traffic rises sharply in May as Lions tour begins to roar – 22/06/05
