AUCKLAND INTERNATIONAL AIRPORT LIMITED (AIA)
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AIA - AUCKLAND INTERNATIONAL AIRPORT LIMITED

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 4.5
Index: ASX200 | ASX300 | ALL-ORDS

Auckland International Airport Ltd was formed in 1988 when the NZ government privatised the airport. The company is listed on both the ASX and NZX.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.01

19 Jul
2024

0.000

OPEN

$6.85

0.000

HIGH

$7.09

907,109

LOW

$6.85

TARGET
$8.25 17.7% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
AGL . ALX . APA . CEN . DBI . DBI . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
AIA: 1
Title FY24
Forecast
FY25
Forecast
EPS (cps) 17.3 xxx
DPS (cps) 13.3 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 40.4 xxx
Dividend Yield 1.9% xxx
Div Pay Ratio(%) 76.6% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.52%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.51

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 19/03 - ex-div 6.36c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx2.7
DPS All xxxxxxxxxxxxxxx4.3
Sales/Revenue xxxxxxxxxxxxxxx569.8 M
Book Value Per Share xxxxxxxxxxxxxxx523.8
Net Operating Cash Flow xxxxxxxxxxxxxxx281.4 M
Net Profit Margin xxxxxxxxxxxxxxx6.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx0.52 %
Return on Invested Capital xxxxxxxxxxxxxxx0.46 %
Return on Assets xxxxxxxxxxxxxxx0.41 %
Return on Equity xxxxxxxxxxxxxxx0.52 %
Return on Total Capital xxxxxxxxxxxxxxx2.64 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-144.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx395 M
Long Term Debt xxxxxxxxxxxxxxx1,278 M
Total Debt xxxxxxxxxxxxxxx1,672 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx99 M
Price To Book Value xxxxxxxxxxxxxxx1.50

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx425.6 M
Capex % of Sales xxxxxxxxxxxxxxx74.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx302 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx29 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,872 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

-

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

-

xx.xx%

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Ord Minnett

27/02/2024

3

Hold

$8.25

17.69%

Ord Minnett observes an ongoing recovery in passenger numbers for Auckland International Airport and higher regulated aeronautical pricing have lifted revenue in the first half across all segments.

Passenger numbers were 87% of the pre-pandemic equivalent with domestic still slightly outperforming. The broker maintains a FY24 earnings estimate of NZ$278m, close to the upper reaches of the unchanged guidance of NZ$260-280m. Target rises to $8.25 and a Hold rating is maintained.

FORECAST
Ord Minnett forecasts a full year FY24 dividend of 12.30 cents and EPS of 17.50 cents.
Ord Minnett forecasts a full year FY25 dividend of 13.90 cents and EPS of 19.80 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

-

xx.xx%

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EXPERT VIEWS
Display All Commentary

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

28/05/2024

2

Upgrade to Overweight from Neutral

-

-

Jarden highlights the ComCom regulatory draft review on Auckland International Airport pricing is due late May and is expected to be favourable and pose less risk to the company's pricing.

The broker also estimates a potential -3% to -5% reduction in pricing across FY25-FY27 would only have a -3.5% impact on EPS.

Auckland International Airport's capital expenditure (capex) plan of NZ$5bn is based on the PSE4 pricing and Jarden notes the regulator did not express concerns around the PSE3 pricing when there was a notable increase in capex, although covid stymied the plans.

No changes have been made to financial forecasts.

Rating upgraded to Overweight from Neutral. Target price adjusts to NZ$8.58 from NZ$8.44.

FORECAST
Jarden forecasts a full year FY24 dividend of 12.47 cents and EPS of 17.37 cents.
Jarden forecasts a full year FY25 dividend of 13.02 cents and EPS of 18.57 cents.

AIA STOCK CHART