Auckland International Airport Limited · NZX:AIA
Auckland International Airport — Shareholder Meeting (2014)
25 slides from Auckland International Airport's shareholder meeting presentation, 2014
Slide 1: Special Meeting of Shareholders
Special Meeting of Shareholders Auckland International Airport Limited
Slide 2: Welcome
Welcome
Slide 3: Chief Executive's Address
Chief Executive’s Address
Slide 4: Stronger
STRONGER,
Slide 5: Special Meeting 2014
STRENGTHEN e GROW OUR BE FAST, INVEST TRAVEL / f EFFICIENT FOR FUTURE 7 CONSUMER MARKETS | BUSINESS & EFFECTIVE GROWTH SO 3
Slide 6: Special Meeting 2014
Special Meeting 2014
Slide 7: Special Meeting 2014
Special Meeting 2014
Slide 8: Slide 8
Slide 9: ‘ ‘ ‘ f
4 ‘ ‘ ‘ f
Slide 10: Return of capital
Special Meeting 2014 Return of capital Capital to be returned $454m Share cancellation 1 in 10 Payment for each cancelled share $3.43
Slide 11: Based on
Special Meeting 2014 Based on •driving tourism market growth •investing in infrastructure to realise our vision •striving for asset, operating and capital efficiency •retaining resilience, managing external risks and market events
Slide 12: Chief Financial Officer
Chief Financial Officer
Slide 13: 5-year underlying profitability
Special Meeting 2014 5-year underlying profitability* * We continue to report underlying profit because we believe it helps investors to understand what is happening in our business, where revaluation changes or one-off transactions can make the comparison of profits between years difficult. Further
Slide 14: Debt to enterprise value
Special Meeting 2014 Debt to enterprise value* 2009 35.7% 2011 27.2% 2013 22.8% * Debt to Enterprise value calculations are at 30 June of each year presented.
Slide 15: S&P credit rating
Special Meeting 2014 S&P credit rating
Slide 16: Timetable
Special Meeting 2014 Timetable Event Special meeting of shareholders 12 February Final orders made by High Court* 12 March Record Date* 7 April Payment to shareholders* 14 April * Dates are indicative only
Slide 17: Components
Special Meeting 2014 Components Non-taxable capital returned Dividend imputed at 28% $1.37 + $2.06 = $3.43
Slide 18: Dividends
Special Meeting 2014 Dividends •No interim dividend in FY14 •Next ordinary dividend in October 2014
Slide 19: Company impact
Special Meeting 2014 Company impact •Efficient funding = lower WACC = stronger share price •Retain A- credit rating •Maintain long-term funding flexibility •Debt funding capacity remains strong
Slide 20: Shareholder impact
Special Meeting 2014 Shareholder impact •Proportionate shareholding in Company does not change •Voting rights and distribution rights not affected •Company becomes more efficient and remains financially strong •Excess capital returned to you, in a tax efficient manner
Slide 21: Common questions
Special Meeting 2014 Common questions •Given the share price is $3.66 am I losing 23 cents per cancelled share? •Why is increasing company debt a good thing? •What if I want to keep my money invested in Auckland Airport?
Slide 22: Special Resolution
Special Resolution
Slide 23: Questions
Questions
Slide 24: Meeting closure
Meeting closure
Slide 25: Slide 25
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