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) has upgraded its FY23 NPAT guidance range from NZ$50m-NZ$100m to NZ$100m-NZ$130m</li><li>Our FY23 NPAT estimate is already at NZ$134m and Visible Alpha consensus at ~NZ$112m</li><li>There is no change to the FY23 capex guidance of NZ$600m-NZ$700m.</li></ul>

Auckland Airport (AIA) has upgraded its FY23 NPAT guidance range from NZ$50m-NZ$100m to NZ$100m-NZ$130mOur FY23 NPAT estimate is already at NZ$134m and Visible Alpha consensus at ~NZ$112mThere is no change to the FY23 capex guidance of NZ$600m-NZ$700m.

Auckland Airport: Guidance Upgrade; Consensus Already There

Auckland Intl Airport

Auckland Airport: Guidance Upgrade; Consensus Already There