Auckland Airport's passenger numbers rose 17 percent to 18.5 million, driven by a strong rebound in international passengers. Photo:
Auckland Airport's bottom line profit fell 87 percent as it faced a large tax bill, but leaving aside one-off items, its underlying profit rose sharply as overseas travellers returned.
Key numbers for the 12 months ended June compared with a year ago:
- Net profit $5.5m vs $43.2m
- Revenue $895.5m vs $625.9m
- Underlying profit $276.6m vs $148.1m
- Taxation expense $337.8m vs $1m
- Final dividend 6.5 cents per share vs 4 cps
The airport said the significant tax expense reflected a change in government policy on depreciation of building structures.
Passenger numbers rose 17 percent to 18.5 million, driven by a strong rebound in international passengers, contributing to a 43 percent increase in revenue.
International passenger numbers increased 29 percent to 10.1 million, while domestic passenger numbers rose 5 percent to 8.5m.
The airport said the year saw seat availability to international destinations at 91 percent of pre-Covid levels, with strong demand from North America.
Connectivity in China was another bright spot for the airport, it said.
Chief executive Carrie Hurihanganui said the airport was focused on its large infrastructure programme and controlling costs.
The airport said its mega terminal integration project was continuing "at pace", with the project now more than 20 percent complete.
Looking ahead, Hurihanganui said the airport continued to draw interest from new and existing airlines but said the airport was cautious about its outlook.
"While New Zealand remains an attractive market for international airlines, uncertainty remains around external factors that are constraining the supply of aircraft and engines globally," she said.
"Air New Zealand's aircraft engine issues will also have an ongoing impact and we continue to face headwinds in the local economy."
The airport provided full-year underlying earnings guidance of between $280 million and $320m.