PNCC Presentation

Palmerston North Airport Ltd2012/13

Annual Report

Our VisionTo grow the shareholder’s regional economic value by operating a safe, efficient, attractive and profitable airport that serves the Central Region

Financial Overview

Performance 30-Jun 13 30-Jun-13 30-Jun-12

Actual SOI Actual

Revenue 4,589,800 4,593,500 4,480,318

EBITDA 1,765,104 1,933,000 1,738,650

Net profit after tax 491,883 610,500 495,564

Passengers 445,147 467,000 449,318

Overview

• Revenue

• Operations & Maintenance Costs

• Administration costs

• EBITDA

• Net Surplus

• Passenger Numbers

Financial Overview

• Revenue – aeronautical up 3.4% & non-aeronautical up 1%

• Additional operational & maintenance costs increased:• Deferred maintenance to support safety and aesthetic• Review of District Plan• Investment in projects to support revenue growth• Air noise review• Review operating exposition

• Administration & personnel costs decreased: • Marketing, recruitment & legal expenses decreased• Personnel costs decreased due to Corporate restructure• Consulting cost increased – Project Outback and

Compliance & Policy updates.

Financial Overview

• EBITDA 1.5% improvement on 2011/12

• Adjustments of asset register and WiP increased taxation charges and deferred tax for 2012/13

• Net Surplus decreased as a result of higher taxation expense

• Shareholder’s Equity continues to increase

• Dividend payment to PNCC $196,753

Other Highlights

• Aeronautical Route DevelopmentRoute development plans under negotiation ( Nelson Services)Visitor strategy developed

• Regulatory Compliance Aerodrome Operating Certificate 139

• InfrastructureAirside apron area upgradesTerminal facilities upgrade with customer enhancements

Refurbishment of caféCar park stage one

Other Highlights

• PlanningAir noise contour review to meet sectional review of District Plan

importance of 24/7 operations

• PricingRemoval of separate departure levy (Oct 12)

• Growth in car-park numbers;Increased by 8.9%; generating an additional 4.6% in revenue

Looking to the Future

• Continue to develop and refine short & long term strategy

• Protect our 24/7 operation

• Focus on additional domestic services

• Raising awareness of events and attractions through-out the wider region & encouraging regional collaboration

• New Retail outlet planned for 2013/14

• Planned restructure of the rental car operations and terms of concession in 2013/14

Questions