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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