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 robust profit recovery in its 1H23 result, due on 23 February 2023.</li><li>We expect underlying NPAT of NZ$59m, up from a prior year loss.</li><li>We don't expect the result to be pivotal from a valuation perspective as AIA's full financial recovery will play out over the medium term.</li></ul>

Auckland Airport (AIA) will report a robust profit recovery in its 1H23 result, due on 23 February 2023.We expect underlying NPAT of NZ$59m, up from a prior year loss.We don't expect the result to be pivotal from a valuation perspective as AIA's full financial recovery will play out over the medium term.

Auckland Airport: 1H23 Preview — On Runway to Recovery

Auckland Intl Airport

Auckland Airport: 1H23 Preview — On Runway to Recovery