Auckland International Airport Limited · NZX:AIA

Auckland International Airport — H1 2003 Earnings Presentation

12 slides from Auckland International Airport's earnings presentation, Feb 27, 2003

  1. Slide 1: Preliminary Results for the Six Months Ended 31 December 2002

    27/02 '03 10:00 FAX 64 9 2754927 AIAL EXECUTIVE SUITE Wool/012 P O Box 73-020 BN 4 Auckland International Auckiang ek JAS Airport Limited New Zealand Fax Phom seuoase-nae 'To Market Information Services Section Australian Stock Exchange Fax No 0800-449-707. From Chris Curley Date 27 February 2003 Pa

  2. Slide 2: Income statement: six months to 31 December 2002

    27/02 '03 10:00 FAX 64 9 2754927 cA ell Pe AT ART eed (he ta i rai in ili ha AIAL EXECUTIVE SUITE a tt ii a a ei Woo2/012 riled an fit Lar a ae eM AV i aia signet face int bi 6 months to 34 Dec! 2002 (gm) 6 months to 31 Dec’ 2001 ($m) % change Operating revenue 114.4 99.9 14.5 Operating expenses 25.

  3. Slide 3: Dividend and revenue analysis

    27/02 '03 10:02 FAX 64 9 2754927 AIAL EXECUTIVE SUITE 003/012 Dividend — Inierim to be paid 28 March 2003 6 months | 6 months Gents par share to 31 Dec’ | to 34 Deo’ 2002 2001 Interim 9.5cps 6.0cps Tatal $28.9m $25.2m Percentage of surplus after tax 12.8% 71.8% Revenue analysis [6 months to 34 Decem

  4. Slide 4: Revenue analysis and traffic statistics

    27/02 "03 10:02 FAX 64 9 2754927 AIAL EXECUTIVE SUITE Revenue analysis tot Dee! 02 % tombe’ 01 ‘fi sm} change $m) change Ratail income 39.5 345 29.8 32.6 Altfield income 27.8 243 26.9 34 Development charge 47.0 14.9 15.4 40.4 Rental income 414 o7 10.6 47 Terminal services 19 69 15 6.3 charge __ Car

  5. Slide 5: Passenger movements

    7/02 '03 10:02 FAX 64 9 2754927 AIAL EXECUTIVE SUITE Passenger movements § months ta 31 December 4,715,836 5,000,000 4,500,000 4,000,000 3,500,000 2,000,000 2,500,000 2,000,000 4,500,000 1,000,000 Domestic 500,000 0 International 93 94 95 96 97 98 99 00 01 O02 Visitor arrivals to NZ +7.1% [42 months

  6. Slide 6: Nationality of arriving pax at Auckland

    "03 10:03 FAX 64 9 2754927 AIAL EXECUTIVE SUITE Nationality of arriving pax at Auckland Talwan Germany 1% & France 2% (2%) [6 months to 31 December 2002 2001) _| Others 18% (14%) New Zealand 40% (42%) "oe (i a @%) an 6% (6%) Source: Statlaties NZ Arriving pax growth on bee’ O2 “arDee ot | growth New

  7. Slide 7: Visitor arrivals going forward

    ___ 27/02 '03 10:03 FAX 64 9 2754927 AIAL EXECUTIVE SUITE 007/012 Visitor arrivals going forward Forecast 2.7m in 2007 Source: Stallstics NZ & DSNZ Traffic statistics pa . 6 months to |G months to| % Aircraft Movements 34 Dec’ 02 | 31 Dec’ 01 |change International 415,154 14,497 44 Domestle 56,614 5

  8. Slide 8: Aircraft movements

    _ 27/02 °03 10:04 FAX 64 9 2754927 AIAL EXECUTIVE SUITE 008/012 Aircraft movements 6 months to 31 December 80,000 74,768 70,000 60,000 50,000 40,000 30,000 20,000 10,000 ft) International Domestic 93 94 95 96 97 98 99 00 01 O02 13 6 months to 31 December International | % ) Domestic % % (tonnes) cha

  9. Slide 9: Expenditure analysis

    0:04 PAX 64 9 2754927 AIAL EXECUTIVE SUITE 009/012 Expenditure analysis [6 months to 31 December 2002 (2001) | Rates & Insurance General 2.0% (1.8%) 10.7% (12.1 Depreciation 28.5% (31.3%) Staff é 19.8% (20.4% Repairs & Nai interest maintenance 24.5% (18.0%) 14.7% (16.4%) 45 Expenditure analysis § mo

  10. Slide 10: Key ratios and Statement of Financial Position

    27/02 '03 10:04 FAX 64 9 2754927 AIAL EXECUTIVE SUITE Key ratios 6 months to |G months to 34 Dec’ 02 | 31 Dec’ 01 Operating expenses/revenue 22.6% 25.1% Operating margin TTA 74.9% Tax rate B2% 30.4% Net debt/net debt + equity 50.6% 39.0% CGapex/depreciation (times) 11 a4 Interest cover (tlmas) 53 5.

  11. Slide 11: Capex $16.6m

    __ 2ro2 103 1 5 FAX 64 9 2754927 AIAL EXECUTIVE SUITE 011/012 Capex $16.6m & months to 41 December 2002 _| international terminal $4.4m Domestic terminal $0.2m Investment properties Infrastructure $3.8m $2.2m Land Runways, §(0.7}m Other taxiways & $0.9m aprons $0.8m Capex forecast $23.9m Internation

  12. Slide 12: Operating efficiencies and the year ahead

    27/02 '03 10:05 PAX 64 9 2754927 AIAL EXECUTIVE SUITE Wo12/012 Operating efficiencies 6 months to | 6 months to 31 Dec’ 02 | 31 Dec' 01 Passengers per employee 16,547 15,803 Revenue per employea $401,000 $364,000 Revenue per pax $24.26 $23.03 Retail revenue per int pax $14.45 $14.74 Car park revenue

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