Auckland International Airport Limited · NZX:AIA
Auckland International Airport — H1 2026 Earnings Presentation
39 slides from Auckland International Airport's earnings presentation, Feb 19, 2026
Slide 1: Interim results presentation
Interim results presentation 19 February 2026 Carrie Hurihanganui Chief Executive Stewart Reynolds Chief Financial Officer
Slide 2: Important notice
Important notice Disclaimer This presentation is given on behalf of Auckland International Airport Limited (NZX: AIA; ASX: AIA; ADR: AUKNY). Information in this presentation: • is provided for general information purposes only, and is not an offer or invitation for subscription, purchase, or recomme
Slide 3: Table of Contents
Table of Contents 1H26 results and highlights 4 Building a better future 6 Financial results 22 Outlook 29 Supplementary information 31 FY26 Interim results presentation 3 Auckland Airport
Slide 4: 1H26 results
1H26 results Revenue Reported profit after tax Capital expenditure Interim dividend $519.6 $177.0 $430.6 6.50 million million million cps 4% increase 5% decrease 28% decrease 0.25 cps increase EBITDAFI 1 Underlying profit 1 Assets commissioned FFO / net debt $371.3 $157.1 $743.5 19.8% million millio
Slide 5: 1H26 highlights
1H26 highlights Aeronautical Financial Operations Commercial Investment 9.64m $519.6m 10% $239.9m $430.6m PAX movements up 2% revenue up 4% improvement in processing income up 5% capital expenditure times 3 4.37m domestic PAX up 2% EBITDAFI 2 of $371.3m, up 6% Collaboration with airport Car park inc
Slide 6: Building a better future
Auckland Airport Building a better future
Slide 7: We are delivering on our plan and uplifting the traveller experience
We are delivering on our plan and uplifting the traveller experience Continued momentum completing new Continued focus on passenger experience and Solid commercial performance, with investments infrastructure milestones, including new remote journey times through investments and process in parking,
Slide 8: …and we are playing our part to boost Auckland and New Zealand’s economic activity
…and we are playing our part to boost Auckland and New Zealand’s economic activity 9.64m 67% 89% $8.2b AKL’s share of AKL’s share of passengers, up New Zealand’s New Zealand’s worth of goods 2% international international air exported, up 75% visitor arrivals cargo by volume 2.35m $1.4m 85,814 $12.1
Slide 9: Greater seat capacity and choice for travellers
Greater seat capacity and choice for travellers More seats brings benefits for New Zealand’s tourism industry and provides greater choice for New Zealanders heading overseas AKL AKL AKL Samoa & Australia Australia & Gold Coast New Zealand New routes Increased Increased coming in 2H26 frequency frequ
Slide 10: Strengthening SE Asia connectivity: welcoming back Thai Airways in late 2026
Strengthening SE Asia connectivity: welcoming back Thai Airways in late 2026 Year -round daily non -stop service to resume in late 2026 FY26 Interim results presentation 10 Auckland Airport
Slide 11: Collaboration between government and business is stimulating the tourism recovery
Collaboration between government and business is stimulating the tourism recovery Momentum is building at New Zealand’s gateway airport, with seat capacity up 4% over the peak summer period NZ tourism recovery NZ inbound tourism growth by key market Tourism momentum building 110% Peak period capacit
Slide 12: Momentum continues to build in FY26 with greater competition driving down airfares
Momentum continues to build in FY26 with greater competition driving down airfares Growth in domestic jet and international capacity and competition is providing travellers with more choice International capacity and PAX recovery Domestic PAX recovery is mixed Domestic air fares 110% 110% $200 1H25:
Slide 13: Continued focus on enhancing the customer journey
Continued focus on enhancing the customer journey Investment in new facilities and processes are delivering reduced journey times and a smoother travel experience Image of queueing / new scanning machines International departures hall New Qantas lounge Expanded international arrivals area Refreshed
Slide 14: Delivering upgrades in the period that provide greater capacity and resilience
Delivering upgrades in the period that provide greater capacity and resilience Northern stands International Terminal East and the ‘Stitch’ to the Domestic Jet Terminal 14 Cargo precinct New electric heat pumps installed on the roof of the international terminal
Slide 15: Significant momentum on the Domestic jet terminal
Significant momentum on the Domestic jet terminal FY26 Interim results presentation 15 Auckland Airport
Slide 16: Opening of new temporary check-in facility in the coming weeks
Opening of new temporary check -in facility in the coming weeks FY26 Interim results presentation 16 Auckland Airport
Slide 17: Successful transition to new duty-free operator
Successful transition to new duty -free operator Retail at a glance Performance of retail income • Positive sales performance in the period across $92.3 million in the period core categories with PSR up 5%, excluding FX of retail income • 1H26 saw a change in sales mix, with electronic and $9.76 per
Slide 18: Investment in parking product range delivering improved customer choice and revenue
Investment in parking product range delivering improved customer choice and revenue Regional airfield expansion construction in car parks M and O At a glance Performance of car park income • Full six months operation of the Transport Hub, $41.1 million in the period migration toward high -quality, m
Slide 19: Mānawa Bay celebrated its first birthday with continued growth in sales and footfall
Mānawa Bay celebrated its first birthday with continued growth in sales and footfall 99.1% occupancy rate as at 31 December 2025 4.2 weighted average lease term years 6% increase footfall vs 2024* 18% increase in sales vs 2024* FY26 Interim results presentation 19 Auckland Airport *Increase compares
Slide 20: Continued growth in property rent roll
Continued growth in property rent roll At a glance Performance Development Investment property • Commercial property rent roll up 2% from June • Three key aeronautical tenants moved to new $3.4 billion portfolio value 2025 to $195.4 million on the back of growth of cargo precinct with new dedicated
Slide 21: Regulatory update
Regulatory update Input methodology review • In December 2025, the High Court declined the appeals lodged by the airports in relation to the Airport Services Input Methodologies Merits Review. Auckland Airport has elected not to pursue the matter further • Alongside this, the Commission in March wil
Slide 22: Financial results
Auckland Airport Financial results
Slide 23: EBITDAFI up 6% reflecting momentum across key lines of business
EBITDAFI up 6% reflecting momentum across key lines of business • Revenue rose 4% in the period reflecting increases in both For the six months ended 31 December 2025 2024 Change aeronautical charges and passenger numbers and higher commercial income Revenue 519.6 499.9 4% • Operating costs decrease
Slide 24: Revenue growth driven by ongoing investment and improved trading performance
Revenue growth driven by ongoing investment and improved trading performance • Aeronautical revenue from airfield and the passenger services For the six months ended 31 December 2025 2024 Change charges grew a combined 7% driven by the increase in passenger numbers, combined with higher aeronautical
Slide 25: Strong focus on cost management
Strong focus on cost management • Staff cost growth reflects the combined effects of increased For the six months ended 31 December 2025 2024 Change aeronautical and commercial activity, partially offset by benefits from organisational changes undertaken during last financial year Staff (44.3) (42.9
Slide 26: EBITDAFI bridge
EBITDAFI bridge Improved earnings momentum in the core business with the lift in trading performance supported by a reduction in costs • In the six months to 31 December 2025, EBITDAFI($m) increased aeronautical activity and the full period effect of new commercial 8% developments drove a 6% increas
Slide 27: Aeronautical infrastructure investment gaining momentum
Aeronautical infrastructure investment gaining momentum $431 million of capital expenditure in the period with 2H seeing accelerated Domestic Processor activity Aeronautical Commercial, Infrastructure & Other FY22 - FY26 capital expenditure 1,400 Terminal integration: $291.5 million Commercial $34.3
Slide 28: Liquidity position and credit metrics remain strong
Liquidity position and credit metrics remain strong Capital investment funded by cash from 2024 equity raise, additional borrowings and continued strong DRP participation • Total drawn debt of $2,652 million as at 31 Key credit metrics Drawn debt maturity profile by financial year December 2025, an
Slide 29: Outlook
Outlook Guidance • As we look ahead to the remaining six months of the year, we expect to see aeronautical and commercial activity continue its positive trajectory • Recent trading momentum and the additional airline seat capacity provides grounds for optimism for the remainder of the year. Notwiths
Slide 30: Ngā mihi nui Thank you
'° ¢ e wy . ry a - % TTT Nga mihi nui Thank you Celebrating 60 years of connection
Slide 31: Supplementary information
Supplementary information
Slide 32: Underlying profit reconciliation
Supplementary slides: Underlying profit reconciliation 2025 2024 Reported Adjustments Underlying Reported Underlying For the six months ended 31 December ($m) profit profit 14 profit Adjustments profit 14 EBITDAFI 14 per income statement 371.3 - 371.3 349.6 - 349.6 Investment property fair value cha
Slide 33: Aircraft movements and MCTOW
Supplementary slides: Aircraft movements and MCTOW For the six months ended 31 December 2025 2024 2023 2022 2021 2020 Aircraft movements International aircraft movements 27,344 26,260 26,576 19,133 8,349 6,760 Domestic aircraft movements 52,893 52,835 53,011 50,803 23,846 37,975 Total aircraft movem
Slide 34: Total passenger movements
Supplementary slides: Total passenger movements For the six months ended 31 December 2025 2024 2023 2022 2021 2020 International passengers excluding transits 4,913,463 4,788,774 4,596,403 3,183,179 251,918 153,975 Transit passengers 359,228 397,128 386,200 291,450 6,506 33,028 Total international p
Slide 35: Balance sheet
Supplementary slides: Balance sheet As at ($m) Dec -25 Jun -25 Jun -24 Jun -23 Jun -22 Jun -21 Current assets 501.8 658.4 303.2 160.8 74.8 125.8 Cash 360.6 567.8 219.7 106.2 24.7 79.5 Other current assets 141.2 90.6 83.5 54.6 50.1 46.3 Non -current assets 13,783.3 13,404.2 12,113.0 10,668.5 10,078.1
Slide 36: 1H 2H revenue
Supplementary slides: 1H 2H revenue 1H26 vs 1H26 vs For the year ended 30 June 1H26 2H25 1H25 2H25 1H25 Airfield income 93.6 86.4 84.5 8% 11% Passenger services charge 145.7 138.5 139.7 5% 4% Retail income 92.3 95.1 94.1 (3)% (2)% Car park income 41.1 36.6 35.9 12% 14% Investment property rental inc
Slide 37: 1H 2H costs
Supplementary slides: 1H 2H costs 1H26 vs 1H26 vs For the year ended 30 June 1H26 2H25 1H25 2H25 1H25 Staff (44.3) (43.0) (42.9) (3)% (3)% Asset management, maintenance and (66.3) (71.1) (65.3) 7% (2)% airport operations Rates and insurance (23.1) (20.8) (20.6) (11)% (12)% Marketing and promotions (
Slide 38: Operating segment performance
Supplementary slides: Operating segment performance For the six months ended 31 December 2025 For the six months ended 31 December 2024 Retail & car Retail & car Segment performance Aeronautical Property Total Aeronautical Property Total parking parking Total income 263.8 143.0 103.6 510.4 248.5 138
Slide 39: Glossary
Glossary ASQ Airport Service Quality EBITDAFI Earnings before interest, taxation, depreciation, fair value adjustments and investments in associates FFO Funds from operations FY Financial year to 30 June GAAP Generally accepted accounting principles IPP Income per passenger MCTOW Maximum certified t
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