The following is a summary of the Auckland International Airport Limited (AUKNY) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Auckland Airport's H1 2024 revenue increased 53% to $440.5 million.

• Operating EBITDA rose by 64% to $310 million with an EBITDA margin of 70.4%.

• Underlying profit after tax was reported as $145.7 million, a 115% improvement from H1 '23.

• Reported profit after tax was $118.7 million.

• Capital expenditures increased by 130% to $602.8 million, attributed mainly to core aeronautical programs and commercial projects.

• An interim dividend of 6.75 cents per share has been declared for the first half of the 2024 financial year.

Business Progress:

• Passenger movements increased by 22% to 9.3 million, resulting from growth in both domestic and international sectors.

• Auckland Airport saw growth beyond pre-COVID levels and has added new airlines and destinations.

• Despite early challenges in Q1 processing times, corrective actions were implemented in collaboration with government agencies, airlines, and airline ground handlers.

• Core aeronautical and commercial property investments are progressing as planned.

• Terminal integration and infrastructure development are making steady progress.

• Retail experienced strong performance due to an increase in international travel and product enhancements.

• Commercial property recorded a revenue increase of 11% to $72.5 million.

• Auckland Airport is committed to a $3.9 billion project focusing on an integrated terminal and associated developments.

• The integrated terminal project is expected to be fully operational by H1 2026.

More details: AUCKLAND INTERNATIONAL AIRPORT SPON ADR EACH REPR 10 ORD IR

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