Auckland International Airport (AIA) investor relations material

Executive summary

• Revenue for 1H26 rose 4% year-over-year to $519.6 million, driven by higher aeronautical charges, passenger numbers, and commercial income.

• EBITDAFI increased 6% to $371.3 million, with margin improving to 71.5%.

• Net underlying profit after tax up 6% to $157.1 million; reported profit after tax down 5% to $177.0 million due to lower investment property revaluations and higher depreciation.

• Interim dividend increased to 6.50 cents per share, totaling $110.2 million.

• Major capital expenditure of $430.6 million supported infrastructure projects, including the domestic jet terminal.

Financial highlights

• Total passenger movements increased 2% to 9.64 million; domestic and international passengers both up 2%.

• International cargo movements up 37% to almost 86,000 tons, valued at $20.3 billion.

• Aeronautical revenue grew 7% year-over-year to $263.8 million.

• Retail income declined 2% due to lower concession rates and a shift to lower-margin categories; car park income surged 14% to $41.1 million.

• Investment property rental income increased 9% to $103.6 million; hotel occupancy averaged 83%.

Outlook and guidance

• Underlying profit after tax for FY26 is guided between $295 million and $320 million.

• Expected domestic and international passenger numbers are circa 8.6 million and 10.6 million, respectively.

• Capital expenditure for FY26 is forecast between $1.0 billion and $1.2 billion.

• Optimism based on trading momentum, new air connectivity, and infrastructure progress, but global jet supply challenges and adverse events remain risks.