Auckland International Airport’s Share Price Advanced With Company Updates And Board Nominations

AIA

Auckland International Airport Limited (ASX:AIA) saw its share price uplifted by 1.212% after the release of its investor presentation on 21 September 2018. The group has also provided an update on board nominations wherein Dean Hamilton and Tania Simpson have been nominated for election as independent non-executive directors. The group will be conducting its 2018 annual meeting in October 2018.

Meanwhile, the group has reported CAGR of 5.4% in terms of passenger growth over the last 18 years; and has elucidated the fundamentals behind the diverse business in view of the prevailing regulatory environment.

On 18 September 2018, Auckland International Airport Limited had announced that it is considering an offer of fixed rate bonds with Tenor of six years to New Zealand retail investors and to the institutional investors. The interest payment dates on these bonds are expected to be on 10 April and 10 October in each year until and including the maturity date. Interest payments will be made semi-annually. The bonds are expected to be listed on NZX Debt market from 24 September 2018. The full details of the bond issue will be released before 24 September 2018. Interest payments will be made semi-annually. 

Due to the reduction in the international and aeronautical prices, the total revenue of Auckland International Airport has only slightly increased to $122.1 million in FY 2018 as compared to $119.6 million in FY 2017.  The expenses of the company also increased from $156.2 million to $177.5 million. The reported net profit after tax has increased to $650.1 million from $332.9 million in FY 2017.  The capital expenditure is $405.2 million which is an increase of 8.1% compared to last year. Capital expenditure for FY 2019 is expected to be between $450 million and $550 million. Gain on sales of associates is $297.4 million this year. Auckland Airport has released 12 new airlines and 21 new routes in the past three years and has increased the capacity by 29% by connecting Auckland with new cities of 140 million. Auckland is planning to improve its performance by increasing the productivity of assets, processes, operations and balance sheet.

AIA’s share traded at $6.680 with a market capitalization of $7.94 billion as on 21 September 2018 (AEST 3:45 PM).

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