Auckland International Airport Limited · NZX:AIA
Auckland International Airport — FY2025 Earnings Presentation
50 slides from Auckland International Airport's earnings presentation, Aug 21, 2025
Slide 1: Annual results presentation
Annual results presentation 21 August 2025 Carrie Hurihanganui Chief Executive Stewart Reynolds Chief Financial Officer Auckland Airport
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 recomm
Slide 3: Table of Contents
Table of Contents FY25 Annual results presentation ‘Auckland Airport FY25 highlights and progress against strategic objectives 04 Building a better future 06 Financial results 25 Outlook 33 Supplementary information 37
Slide 4: FY25 highlights
FY25 highlights FY25 Annual results presentation ‘Auckland Airport Revenue $1,005 million 6 12% increase EBITDAFI! $701.1 million 6 14% increase Reported profit after tax $420.7 million 6 $415.2 million increase Underlying profit! $310.4 million (T) 12% increase Capital expenditure $1,090 million (v
Slide 5: Building a better future
Building a better future Thriving enterprise Continuing to support the prosperity of NZ 75% of all international arrivals to New Zealand and 66% of domestic seat capacity $33.3 billion of airfreight travelled through AKL Completed two commercial property developments and another is under constructio
Slide 6: Building a better future
Auckland Airport Building a better future
Slide 7: New routes and additional capacity
New routes and addi pacity pacity into AKL and with it, opportunities for travel and trade FY25 Annual results presbniation-x Fa h fights to Buenos Aires and Qantas flights ymmence in December 2025, increase in Cathay Pacific services to Hong vcd Apo Kong ffestive fom December 2025, and Qantas fight
Slide 8: Connecting New Zealand with the world
Connecting New Zealand with the world With 27 international airlines linking AKL with 42 destinations, connectivity with the world has been re-established. Auckland Airport continues to focus on driving additional capacity and thereby providing additional choice for passengers FY25 Annual results pr
Slide 9: Connecting New Zealand with the world
Connecting New Zealand with the world International demand continues to grow, driven by strong load factors and increased passenger numbers, mitigating the drop in capacity on certain routes Total Capacity Load factors PAX 02.2% @3.8ppts @2.5% North Asia: North America: Sapeey Load factors PAX Capac
Slide 10: International passenger growth driven by strong load factors
International passenger growth driven by strong load factors International passenger movements in FY25 recovered to 89% of the pre-COVID equivalent on 88% of the capacity, with inbound tourism recovering to 84%, up from 82% in the prior year International PAX arrivals by residency New Zealand is +49
Slide 11: Domestic market remains challenged with capacity constraints and high air fares
Domestic market remains challenged with capacity constraints and high air fares New Zealand's domestic recovery continues to lag peers, with fleet constraints affecting the national carrier partially offset by growth from Jetstar Domestic seat capacity by sector Christchurch Wellington Queenstown, O
Slide 12: Collaboration between AKL and border agencies
Collaboration between AKL and border agencies and making use of innovation is delivering faster journey times in the terminals OTB 25% faster’, New scanning departures 4: Ol machines mean travellers can 0 mins* leave laptops, liquids, aerosols and gels in their carry-on. 7B 10% faster*driven by acti
Slide 13: Retail at a glance
Ata glance of retail income $189.2 million in the period of retail income $10.29 i neo +19 retail income 1% per PAX growth® decrease in PSR’ -9% increase in conversion” +Ippt 6. _ Income per PAX is caleulated as total retail income divided by total PAX, including half of the transit PAX movements 7.
Slide 14: Transport investments driving revenue growth and improved customer experience
Transport investments driving revenue growth and improved customer experience Ata glance $72.5 million of car park income in the period 11,654 number of public car parks 1.7 million number of exits +3% exits growth FY25 Annuel results presentation ‘Auckland Airport Performance Car park income was up
Slide 15: Continued investment in property development driving rental growth
Continued investment in property development driving rental growth NESE Investment property portfolio value Commercial property rent roll® Commercial property portfolio occupancy ? Commercial property weighted average lease term!® of land available for property development nd, portfolio oce ing inve
Slide 16: We continue to develop our world-class logistics and distribution hub
We continue to develop our world-class logistics and distribution hub net lettable area ! oe To ae expected completion date initial lease term Artist's impression FY25 Annual results presentation ‘Auckland Airport 16
Slide 17: Hotel portfolio performance improving
Hotel portfolio performance improving Novotel Auckland Airport TeArikinui Pullman A Available rooms Available rooms Available rooms Occupancy Occupancy Occupancy The hotel continues to outperform its peer set in both occupancy and RevPAR Occupancy was marginally down year on year from 89.7% and the
Slide 18: Delivering infrastructure to support long-term growth
Auckland Airport is focused on delivering infrastructure to support the long-term growth of Auckland and New Zealand Annual results presentation es
Slide 19: Terminal integration is a core element of the investment programme
Terminal integration is a core-element of Auckland Airport's investment programme, combining domestic and international operations under one roof
Slide 20: Domestic jet terminal construction is well underway and tracking to programme
Domestic jet terminal construction is well underway and tracking to programme 80,000.» floor area when complete 2029 completion 449 piles installed for the headhouse and pier 1,710 tonnes of structural steel 5,109ms concrete poured to date Headhouse for the new domestic processor under construction
Slide 21: Remote stands project on track for completion in late 2025
Remote stands project on track for completion in late 2025 FY25 Annual results presentation ‘Auckland Airport for aircraft parking expected completion individual concrete slabs of cabling for airfield ground lighting a
Slide 22: Continued delivery of Terminal Integration
Continued delivery of Terminal Integration Expanded check-in progressively opens Domestic jet terminal Western Stormwater to the public f ponds open completes Arrivals expansion Inner terminal road Western truck dock completes opens for commercial open. operations Domestic jet terminal Baggage enabl
Slide 23: Sustainability remains central to our investment programme
Sustainability remains central to our investment programme FY25 Annual results presentation ‘Auckland Airport catchment fed by of stormwater piping Using coupled wetland biofilter technology; native plant wetland that works to remove contaminants 23
Slide 24: Regulatory update
Regulatory update Review of PSE4 aeronautical charges * On 31 March 2025, Auckland Airport announced a discount to airline charges for the final two years of PSE4, bringing the targeted return for the FY23-FY27 pricing period to 7.82%, within the range the Commerce Commission found to be reasonable
Slide 25: Financial results
Auckland Airport Financial results
Slide 26: Growth in revenue delivering improved profitability
Growth in revenue delivering improved profitability For the year ended 30 June Revenue Expenses EBITDAFI™ Share of profit / (loss) from associate and joint ventures Derivative fair value change Investment property fair value change Property, plant and equipment fair value change Depreciation Interes
Slide 27: Growth in activity and investment across the precinct driving revenue increase
Growth in activity and investment across the precinct driving revenue increase For the year ended 30 June 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
Slide 28: Operating costs rise to support the enhanced traveller experience
Operating costs rise to support the enhanced traveller experience For the year ended 30 June Staff Asset management, maintenance and airport operations Rates and insurance Marketing and promotions Professional services and levies Fixed asset write-offs, impairment and termination costs Flood-related
Slide 29: Underlying profit bridge
Underlying profit bridge Improved underlying performance partially offset by additional operating expenses and depreciation Underlying profit ($m) 7) = (19.9) Hi 18.4 06 310.4 13 —— Lal | 276.6 28 (6.6) (3.2) (4.8) FY24 Flood ——«~FY24 Underlying Underlying Depree- Associate Effective FY25 Non —sNet_
Slide 30: Proceeds from equity raise drives reduction in borrowings and continued investment
Proceeds from equity raise drives reduction in borrowings and continued investment Proceeds from the equity raise and continued strong operating cash flows enabled the continued investment in the airport precinct FY25 Cash Flow ($m) 623.2 (097) (104.5) (937.8) Cashfrom Net nterest Income tax Investm
Slide 31: Capital investment
Capital investment $1,090 million of investment in the period spanning both aeronautical and commercial lines of business Aeronautical Terminal integration: $508 million Significant activity on terminal integration including piling on the terminal headhouse and pier and construction of terminal supe
Slide 32: Liquidity and credit metrics
Liquidity and credit metrics Proceeds of the equity raise have funded capital investment in the year Total drawn debt of $2,487 million as at 30 June 2025, a decrease of 7% or $197 million on June 2024 Committed undrawn bank facility headroom of circa $355 million (Jun-24: $1,000 million), and $560
Slide 33: Outlook
Auckland Airport Outlook
Slide 34: Outlook
Outlook Looking to FY26 and beyond we remain focused on building a better future * Growing the aeronautical network + Enhancing the range of commercial products and services across the precinct * Continued focus on delivering improvements to customer experience and minimising the potential disruptio
Slide 35: Outlook: Guidance
Outlook Guidance * Looking forward to the year ahead, we are pleased to see growing demand for both air travel and our commercial offerings + However, ongoing constraints to airline seat capacity are expected to continue over at least the short term. Alongside this, the impacts of the geopolitical e
Slide 36: Ngā mihi nui Thank you
Slide 37: Supplementary information
Supplementary information
Slide 38: Underlying profit reconciliation
Supplementary slides: Underlying profit reconciliation 2025 2024 For the year ended 30 June ($m) car es) Por adustments ore EBITDAFI” per income statement 701.1 ; 701.1 614.0 - 614.0 Investment property fair value change 175 (1275) - 15.3) 183 - Property, plant and equipment revaluation (28) 28 = (n
Slide 39: Aircraft movements and MCTOW
Supplementary slides: Aircraft movements and MCTOW For the year ended 30 June Aircraft movements International aircraft movements Domestic aircraft movements Total aircraft movements MCTOW (tonnes) International MCTOW Domestic MCTOW Total MCTOW 2025 52,179 105,169 157,348 5,156,065, 2,149,001 7,305,
Slide 40: Total passenger movements
Supplementary slides: Total passenger movements For the year ended 30 June International passengers Transit passengers Total international passengers Domestic passengers Total passengers FY25 Annual results presentation ‘Auckland Airport 2025 9,620,998 685,190 10,306,188 8,428,052 18,734,240 2024 9,
Slide 41: Balance sheet
Supplementary slides: Balance sheet As at ($m) Current assets Cash Other current assets Non-current assets Property, plant and equipment Investment property Other non-current assets Total assets Current liabilities Non-current liabilities Term borrowings Other non-current liabilities Equity Total li
Slide 42: 1H 2H revenue
Supplementary slides: 1H 2H revenue For the year ended 30 June 1H25, 2H25 Change FY25 Airfield income 84.5, 86.4 2% 170.9 Passenger services charge 139.7 138.5, (1)% 278.2 Retail income 941 95.1 1% 189.2 Car park income 35.9 36.6 2% 725 Investment property rental income 83.4 89.5 ™% 172.9 Other rent
Slide 43: 1H 2H costs
Supplementary slides: 1H 2H costs For the year ended 30 June 1H25 2H25 Change FY25 Staff (42.9) (43.0) (0)% (85.9) Asset management, maintenance and airport (653) m) ()% (136.4) operations : " ° ° Rates and insurance (20.6) (20.8) ()% (41.4) Marketing and promotions (5.4) (4.8) 1% (10.2) Professiona
Slide 44: Operating segment performance
Supplementary slides: Operating segment performance For the year ended 30 June 2025 For the year ended 30 June 2024 Segment performance Aeronautical ree rking Property Total Aeronautical retaking Property Total Total income 4943 2791 1947 968.1 4503 2665 1679 8847 Expenses Staff (47) (62) (8.0) (60.
Slide 45: Associates' performance
Supplementary slides: Associates’ performance For the year ended 30 June ($m) 2025 2024 Change ZON Queenstown Airport (24.99% ownership) eee Total revenue 79.9 647 23% EBITDA 573 461 24% Underlying earnings (Auckland Airport's share) 8 74 4l 80% Domestic passengers 1,657,493 1,630,389 2% Internation
Slide 46: Top destinations
Supplementary slides: Top 10 destinations Passenger movements excluding transits Top 10 countries of origin / destination 2025 2024 Change total 2028 % of 2019 movements Australia 4,075,061 3,976,335 2% 42% 90% United States 921,275 980,979 -6% 10% 94% China 878,204 773,535 14% 9% 101% Singapore 635
Slide 47: Passenger arrivals by country of residence
Supplementary slides: Passenger arrivals by country of residence International passenger arrivals Share of Share of Country of last permanent residence 2025 2024 Change —total2025 _—total 2024 arrivals arrivals New Zealand 2,430,307 2,336,520 4% 52% 51% Australia 781,760 715,955 9% 7% 16% United Sta
Slide 48: Visitor arrivals by purpose of visit
Supplementary slides: Visitor arrivals by purpose of visit Purpose of visit Foreign residents Holiday Visit friends/relatives Business/conference Education Other (incl. not stated/notcaptured) New Zealand residents Source: Statistics New Zealand FY25 Annual results presentation ‘Auckland Airport 202
Slide 49: Public car parking capacity as at June
Supplementary slides: Public car parking capacity as at 30 June Public car parking capacity as at 30 June Domestic terminal International terminal Park & Ride Total public car parking capacity FY25 Annual results presentation ‘Auckland Airport 2025, 3,136 3,990 4,528 1,654 2024 3,136 2,026 431 9,473
Slide 50: Glossary
Glossary 1H 2H ADR EBITDAFI FFO First half the financial year Second half the financial year Average daily rate Earnings before interest, taxation, depreciation, fair value adjustments and investments in associates Funds from operations Foreign Exchange Financial year to 30 June Generally accepted a
Auckland International Airport — FY2025 Earnings Presentation on 6ix