Wellington Airport releases half-year unaudited results to 30 September 2024

Wellington Airport has announced its unaudited results for the six months ended 30 September 2024 with revenue growth of 18.6% to $90.9 million and EBITDAF before subvention payment up by 25% to $63 million from the same period last year.[i]

“It’s pleasing to see solid demand for travel continuing in the face of the domestic headwinds this year,” says Wellington Airport chief executive Matt Clarke.

“International passenger numbers are up 12% from the same period last year, driven by new Qantas services, while domestic passenger numbers are down 4.4%.

“Over the last six months we’ve made good progress on a number of projects, including the Lyall Bay redevelopment with the addition of new beachfront outlets set to open soon, our new Airport Fire Station is taking shape and we’re progressing plans for the southern seawall upgrade. We’ve also started work on our expansion onto the site previously belonging to the Miramar Golf Club.

“Over the same period we’ve stepped up our Airport Carbon Accreditation to Level 4+, and are supporting the community in a variety of ways including the 20th year of our Community Awards and our new major sponsorship of Predator Free Wellington.”

[i] EBITDAF before subvention payment is a useful non-NZ GAAP measure of earnings which presents management’s view of the underlying business operating performance. As a member of the Infratil tax group, Wellington International Airport Ltd (WIAL) pays subvention payments to other members of the Infratil tax group. A reconciliation between Wellington Airport’s net profit after tax and EBITDAF before subvention payment is set out in the NZX announcement and Note A1 of the unaudited financial statements for the six months ended 30 September 2024.