New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Auckland Airport (AIA) will report a strong recovery in earnings, given the increase in air traffic over the past 18 months, when it reports its 1H24 result on 22 February 2024.</li><li>However, passenger (pax) development, as outlined in its monthly operating stats, has been below the level implied by the pax guidance provided at the FY23 result.</li><li>Consequently, FY24 NPAT guidance (NZ$260m–NZ$280m) is at risk, albeit at least partially mitigated by (1) improving retail income, and (2) AIA's historic conservative nature when setting earnings guidance. </li></ul>

Auckland Airport (AIA) will report a strong recovery in earnings, given the increase in air traffic over the past 18 months, when it reports its 1H24 result on 22 February 2024.However, passenger (pax) development, as outlined in its monthly operating stats, has been below the level implied by the pax guidance provided at the FY23 result.Consequently, FY24 NPAT guidance (NZ$260m–NZ$280m) is at risk, albeit at least partially mitigated by (1) improving retail income, and (2) AIA's historic conservative nature when setting earnings guidance. 

Auckland Airport 1H24 Preview — Capex to the Fore

Auckland Intl Airport

Auckland Airport 1H24 Preview — Capex to the Fore