Auckland International Airport Limited · NZX:AIA

Auckland International Airport — 1H25 Earnings Presentation

37 slides from Auckland International Airport's earnings presentation, Feb 20, 2025

  1. Slide 1: Interim results presentation

    Interim results presentation 20 February 2025 Carrie Hurihanganui Chief Executive Stewart Reynolds Chief Financial Officer Auckland Airport

  2. Slide 2: Important notice

    Important notice Disclaimer This presentation is given on behalf of Auckland International Airport Limited (NZX: AIA; ASX: AIA; ADR: AUKNY). Informationin this presentation: + _ is provided for general information purposes only, and is not an offer or invitation for subscription, purchase, or recomm

  3. Slide 3: 1H25 highlights

    1H25 highlights Aeronautical 9.5m passenger movements up 2% * 4.3m domestic PAX up 0.1% * 4.8m international PAX up 4% * 0.4m transit PAX up 3% * 26 international airlines serving 42 international destinations * 85,81] tonnes of international cargo movements worth $14.9b, up 10% and 5% Financial $49

  4. Slide 4: A busy six months building for the long haul

    A busy six months building for the long haul “SS {Me Bo SEL : a u vo ee

  5. Slide 5: We are getting on with building a better future

    We are getting on with building a better fu Designing and building a fit-for-purpose and Working to create a seamless, customer-centric Achieving:improved financial performance while resilient airport that has the necessary capacity, airport journey by investing in innovation, fostering a dynamic co

  6. Slide 6: Annual NZ economic output from tourism

    Annual NZ ‘economic output generated from domestic tourism conomic output 4 supported via a international arrivals

  7. Slide 7: Financial results

    Auckland Airport Financial results

  8. Slide 8: Financial results at a glance

    Financial results at a glance 1H25 revenue by category $m Revenue Net profit after tax Cash flow from operations Net cash flow from before interest and tax financing activities 500 Other cam =9499.9mM $187.3m $310.8m $683.9m Other rental 013% © 538% © 19% © 103% 400 Investment property Car park 300

  9. Slide 9: Underlying profit up 2%

    Underlying profit up 2% For the six months ended 31 December Revenue Expenses EBITDAFIS Share of profit / (loss) from associate and joint ventures Derivative fair value change Investment property fair value change Depreciation Interest expense and other finance costs Taxation expense Reported profit

  10. Slide 10: Momentum across the business through continued growth and investment

    Momentum across the business through continued growth and investment For the six months ended 31 December Airfield income Passenger services charge Retail income Car park income Investment property rental income Other rental income Flood-related income Other income Revenue excluding interest income

  11. Slide 11: Operating costs rise to support the enhanced traveller experience

    Operating costs rise to support the enhanced traveller experience For the six months ended 31 December Staff Asset management, maintenance and airport operations Rates and insurance Marketing and promotions Professional services and levies Flood-related expense Other expenses Expected credit losses

  12. Slide 12: Underlying profit bridge

    Underlying profit bridge Improved underlying performance partially offset by additional operating expenses and depreciation 145.7 (1.0) 1H24 Flood, underlying impact profit, Underlying profit ($m) 37.6 (16.3) | (10.7) fo.) Hi 147.7 Lees (6.4) = (3.2) 1H24 Underlying Underlying Depreo- Associate Effe

  13. Slide 13: Continuation of investment across the precinct

    Continuation of investment across the precinct $599.5 million of capital expenditure in the period spanning both aeronautical and commercial investment Aeronautical Terminal integration: $239.8 million Significant construction activity on the new Domestic Jet Terminal with foundation works well unde

  14. Slide 14: Proceeds of equity raise drives reduction in borrowings and continued investment

    Proceeds of equity raise drives reduction in borrowings and continued investment Proceeds from equity raise and continued strong operating cash flows, partially offset by the impact of the ongoing investment programme contributed to a net $244.7m increase in cash during the period 1H25 Cash Flow 137

  15. Slide 15: $1.4b equity raise supports liquidity and credit metrics

    $1.4b equity raise supports liquidity and credit metrics Proceeds will support the planned investment programme * Total drawn debt of $2,463 million as at 31 December 2024, a decrease of 8% or $221 million on June 2024 * Funds received from the equity raise have been applied to reduce unhedged debt

  16. Slide 16: Building a better future

    Auckland Airport Building a better future

  17. Slide 17: New Zealand's tourism recovery behind regional international peers

    New Zealand's tourism recovery behind regional international peers For all of New Zealand, international air capacity remains 9% down on pre-COVID and has not grown in the past year. Inbound tourism is lagging outbound, 16% below pre-COVID levels Tourism PAX recovery 100% 96% 84% 80% 60% 40% 20% 0%

  18. Slide 18: International passenger growth driven by long-haul markets

    International passenger growth driven by long-haul markets Asia International PAX recovery Dec-24 100% 90% 80% 70% 60% 50% 40% PRTG S SSR STs Fs sR SHES E3 538285 83 Note: vs equivalent month in 2019 financial year During the six months ended 31 December 2024, 26 airlines connected Auckland Airport

  19. Slide 19: Domestic recovery remains challenged

    Domestic recovery remains challenged Auckland Airport's domestic recovery continues to lag peers, driven by fleet constraints impacting the national carrier Domestic PAX recovery AKL domestic seat capacity recovery vs peers Domestic airfares vs 2019 2.0x 100% Dec-23 Deo-24 1.9x 89% 89% 90% Dec-22 10

  20. Slide 20: Transport Hub, plaza and customer experience upgrades

    The new Transport Hub and upgrade of the plaza area outside the international terminal are delivering important customer benefits, with an improved undercover pick up and drop off area and new parking options right outside the terminal FY25 Interim results presentation Auckland Airport Traditional c

  21. Slide 21: Delivering on key projects across the precinct to create capacity and increase resilience

    Delivering on key projects across the precinct to create capacity and increase resilience A — { ify awa Bay 5 Z é ; F Ugreitetneln) ; 4 ae SS) Opened: Sep 2024 ” commercial property : development 4 Roading: Tom Ongoing Pierce Drive Complete: Aug 2024 { Transport hub ened: Apr-Nov 2024. ) 4 > \ve \ R

  22. Slide 22: The integrated terminal

    —:. oe . The integrated terminal ae a

  23. Slide 23: Significant airfield expansion on track to deliver important capacity for tourism and trade

    Significant airfield expansion on track to deliver important capacity for tourism and trade

  24. Slide 24: Continued growth in a challenging retail environment

    Continued growth in a challenging retail environment oar Retail at a glance aw of retail income $94.1 million in the period of retail income $10.16 i non Increase in PSR 9, 0.3% compared to 1H24 104 occupied terminal retail stores as at 31 December 2024 Tl Income per PAX is calculated as total retai

  25. Slide 25: Manawa Bay performance in line with expectations

    Manawa Bay performance.in-line-with expectations {rthcludes 20 new € t stores that are a first in Ne Zealand and new entrants to the local market) — t 109 retail tenancies NOW) _ occupied with 8 vacant as: at 31 December 2024. + Weighted average lease term of 4.78 years * The average dwell time of a

  26. Slide 26: Step change in car park capacity and customer experience

    Step change in car park capacity and customer experience ie See ‘Why so quiet? Tim 100% electric Ata glance of car park income in the period $35.9 million number of public car parks 11,402 number of exits!? 0.8 million 12. Exits which generated parking income FY25 Interim results presentation Auckla

  27. Slide 27: Investment property rental growth continues

    Investment property rental growth continues Ata glance Performance $3.3 billion Investment property * Commercial property rent roll up 3.9% to $168.8 * Hotel portfolio occupancy of 78% for the period, portfolio value million on the back of growth of the existing compared with 91% in the equivalent p

  28. Slide 28: Sustainability

    Sustainability We continue to work to minimise the impact of aviation on the environment and to build greater resilience into the airfield Carbon We continue to progress our scope | and 2 decarbonisation pathway * The 1.2 megawatt solar array on the Transport Hub is now operational, reducing the air

  29. Slide 29: Airport peer comparison

    • Wellington Airport $22.66 ‒ Christchurch Airport $15.24 Auckland Airport $11.75 ‒ Brisbane Airport $58.26 Sydney Airport $56.00 Melbourne Airport $46.13 • Auckland Airport $36.70 Perth Airport $27.49 •

  30. Slide 30: Outlook

    Outlook Guidance + As we look ahead to the remaining six months of the year, we continue to see consistent demand for our aeronautical and commercial products and services + However, uncertainty around the health of domestic economy remains, as well as ongoing constraints to airline seat capacity ar

  31. Slide 31: Ngā mihi nui / Thank you

  32. Slide 32: Supplementary information

    Supplementary information

  33. Slide 33: Underlying profit reconciliation

    Supplementary slides: Underlying profit reconciliation For the six months ended 31 December ($m) EBITDAFI'S per income statement Investment property fair value change Derivative fair value change Share of profit / (loss) of associate and joint ventures Depreciation Interest expense and other finance

  34. Slide 34: Aircraft movements and MCTOW

    Supplementary slides: Aircraft movements and MCTOW For the six months ended 31 December Aircraft movements International aircraft movements Domestic aircraft movements Total aircraft movements MCTOW (tonnes) International MCTOW Domestic MCTOW Total MCTOW 2024 26,260 52,835 79,095 2,579,659 1,083,813

  35. Slide 35: Total passenger movements

    Supplementary slides: Total passenger movements For the six months ended 31 December International passengers excluding transits Transit passengers Total international passengers Domestic passengers Total passengers FY25 Interim results presentation Auckland Airport 2024 4,788,774 397,128 5,185,902

  36. Slide 36: Balance sheet

    Supplementary slides: Balance sheet As at ($m) Current assets Cash Other current assets Non-current assets Property, plant and equipment Investment property Other non-current assets Total assets Current liabilities Non-current liabilities Term borrowings Other non-current liabilities Equity Total li

  37. Slide 37: Glossary

    Glossary 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 LED Light-emitting diode McTOW Maximum certified take-off weight mel Ministry

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