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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Auckland International Airport Limited    AIA   NZAIAE0002S6

AUCKLAND INTERNATIONAL AIRPORT LIMITED

(AIA)
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Auckland Airport : Global Travel Recovery to Take Longer Than 3 Years --Update

08/19/2020 | 05:34pm EST

By Stephen Wright

WELLINGTON, New Zealand--Auckland International Airport Ltd. said a recovery in international travel from the pandemic will take longer than the three years estimated by the main airline industry group and Standard & Poor's.

The airport, which is New Zealand's key international gateway, on Thursday reported a 63% drop in full-year net profit to 193.9 million New Zealand dollars ($128.0 million) due to the collapse in travel since March.

Auckland Airport said it is "prudent" to adopt more conservative planning assumptions than the International Air Travel Association or ratings agency Standard & Poor's, which are forecasting a recovery in international air travel within three years.

"We think a full recovery could take longer," said Chief Executive Adrian Littlewood. "However, we are hopeful that domestic travel will return to normal comfortably within two years."

International tourism and the airline industry have been flattened by the coronavirus pandemic as governments sealed borders or heavily restricted travel since the first quarter of the year.

In July, Auckland Airport's international passengers numbers were down 97% from a year earlier. Domestic passengers were 39% lower, which was an improvement from a drop of 71% in June.

Mr. Littlewood said the company is "hopeful" that travel to Pacific island nations and to Australia will resume sometime in 2021 and recover before international long-haul travel.

Australia has capped daily arrivals from abroad to very low numbers, to avoid overwhelming its quarantine system, so only a small number of flights are operating from New Zealand to Australian cities.

Auckland Airport said it is not providing earnings guidance for its current financial year, but will review that decision at its annual shareholders meeting in October and at its interim results in February.

It forecast annual capital expenditure of NZ$250 million to NZ$300 million, some of which will be used for runway and apron maintenance and improvements.

The company raised NZ$1.2 billion cash in April by selling new shares so it could weather the collapse in travel.

 

Write to Stephen Wright at stephen.wright@wsj.com

 

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Financials
Sales 2021 319 M 227 M 227 M
Net income 2021 8,86 M 6,32 M 6,32 M
Net Debt 2021 1 528 M 1 089 M 1 089 M
P/E ratio 2021 1 529x
Yield 2021 -
Capitalization 11 148 M 7 966 M 7 948 M
EV / Sales 2021 39,8x
EV / Sales 2022 21,6x
Nbr of Employees 527
Free-Float 81,9%
Chart AUCKLAND INTERNATIONAL AIRPORT LIMITED
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Auckland International Airport Limited Technical Analysis Chart | AIA | NZAIAE0002S6 | MarketScreener
Technical analysis trends AUCKLAND INTERNATIONAL AIRPORT LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 6,88 NZD
Last Close Price 7,57 NZD
Spread / Highest target -2,64%
Spread / Average Target -9,07%
Spread / Lowest Target -14,1%
EPS Revisions
Managers and Directors
NameTitle
Adrian Littlewood Chief Executive Officer
Patrick Clifford Strange Chairman
Anna Cassels-Brown General Manager-Operations
Phil Neutze Chief Financial Officer
Jonathan Good General Manager-Technology & Marketing
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