AIA FINANCIAL STATEMENTS

Auckland International Airport Ltd — balance sheet, income statement and cash flow trends

AIAAuckland International Airport Ltd

🇦🇺 Australia · AU · Industrials · Airports & Air Services

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue998.3 M NZD+33.8%

Gross Profit509.5 M NZD-11.3%

Operating Income479.2 M NZD+4.0%

EBITDA786.2 M NZD+51.4%

Net Income410.4 M NZD+161.3%

Peer Comparison· Airports & Air Services

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AIA	9.9%	51.0%	78.8%	41.1%
JOBY	69,873.9%	11.2%	-1,176.7%	-1,232.6%
TAVHL	6.1%	39.5%	30.4%	1.8%
AENA	9.4%	74.3%	58.5%	33.7%
CLEBI	-34.3%	34.4%	27.8%	17.9%
ASLE	6.2%	31.4%	12.4%	3.5%
Industry median	7.8%	37.0%	29.1%	10.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AIA	9.9%	51.0%	78.8%	41.1%
ALQ	10.7%	17.1%	23.8%	9.6%
IFT	-11.3%	10.8%	40.6%	18.7%
REH	2.8%	28.4%	9.5%	3.0%
QUB	17.4%	10.8%	16.2%	5.0%
QAN	7.2%	27.1%	17.5%	6.6%
Industry median	7.8%	37.0%	29.1%	10.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity10.6 B NZD74%
Current Liabilities538.6 M NZD4%
Long-term Liabilities3.2 B NZD22%

Key Figures

YoY change

Total Assets14.3 B NZD+26.0%

Total Liabilities3.7 B NZD+27.7%

Total Equity10.6 B NZD+25.4%

Cash & ST Investments360.7 M NZD+509.2%

Total Debt2.7 B NZD+18.9%

Net Debt2.3 B NZD+5.4%

Peer Comparison· Airports & Air Services

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AIA	0.93	25.1%	2.92	74.1%
JOBY	22.05	37.6%	1.89	66.9%
TAVHL	0.78	131.9%	3.36	31.6%
AENA	2.07	83.0%	1.22	50.0%
CLEBI	1.26	120.4%	1.22	36.7%
ASLE	3.74	40.5%	4.00	63.3%
Industry median	1.67	61.8%	2.40	56.6%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AIA	0.93	25.1%	2.92	74.1%
ALQ	1.47	92.5%	1.80	42.8%
IFT	1.30	103.2%	6.37	40.7%
REH	2.34	91.6%	3.61	50.5%
QUB	1.50	137.6%	5.96	46.4%
QAN	0.32	702.7%	1.77	5.6%
Industry median	1.67	61.8%	2.40	56.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow416.1 M NZD+5.6%

Capital Expenditures841.9 M NZD+12.5%

Free Cash Flow-425.7 M NZD—

Dividends Paid-123 M NZD-420.3%

Peer Comparison· Airports & Air Services

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AIA	41.7%	-42.6%	84.3%	101.4%
JOBY	-700.8%	-851.3%	150.5%	56.9%
TAVHL	12.8%	9.1%	11.4%	704.1%
AENA	42.2%	24.4%	17.8%	125.3%
CLEBI	19.2%	-4.8%	13.0%	107.5%
ASLE	-1.3%	-4.0%	2.7%	-37.2%
Industry median	16.0%	-4.4%	15.4%	104.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AIA	41.7%	-42.6%	84.3%	101.4%
ALQ	14.9%	7.0%	7.9%	155.2%
IFT	6.6%	-8.4%	15.1%	35.5%
REH	5.9%	3.8%	2.1%	193.7%
QUB	11.9%	3.8%	8.1%	236.6%
QAN	15.6%	-1.9%	17.8%	236.8%
Industry median	16.0%	-4.4%	15.4%	104.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.