Auckland International Airport Limited (AIA.AX) on Thursday reported a decline in net profit for the first half, reflecting investment property fair value change and depreciation. However, the company reported a rise in revenue. In addition, the airport has revised its annual guidance.
For the six-month period to December 31, 2025, the company reported a net profit of NZ$177 million, or 10.38 cents per share, compared with NZ$187.3 million, or 12.04 cents per share, in the same period last year. Underlying profit was NZ$157.1 million, higher than NZ$148.1 million a year ago.
Earnings before interest and taxation were NZ$285.6 million, less than NZ$303.6 million last year. EBITDA rose to NZ$404.2 million from NZ$403.1 million in the prior year. EBITDAFI moved up to NZ$371.3 million from NZ$349.6 million a year ago.
Investment property fair value change was NZ$26.3 million as against NZ$50.5 million in 2024. Depreciation was NZ$118.6 million, compared with last year's NZ$99.2 million. Total income (revenue) increased to NZ$519.6 million from NZ$499.9 million in the previous year.
The total number of passengers increased 2% to 9.64 million. Domestic passenger numbers increased 2% to 4.37 million, and international passenger numbers, including transits, rose by 2% to 5.27 million.
Auckland Airport will pay an interim dividend of 6.50 cents per share on April 2.
Looking ahead for fiscal 2026, citing a positive trend in aeronautical and commercial activity and passenger numbers, the company has narrowed its earnings guidance range. Auckland Airport now expects underlying profit of NZ$295 million to NZ$320 million against the earlier guidance of NZ$280 million and NZ$320 million.
For fiscal 2025, the airport had reported an underlying profit of NZ$310.4 million.
For fiscal 2026, citing the softer commercial property market conditions, the airport has narrowed its capital expenditure outlook. The company now anticipates annual capital expenditure of NZ$1 billion to NZ$1.2 billion, compared with the earlier guidance of NZ$1 billion to NZ$1.3 billion.
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