Annual Reports and Related Documents::

Issuer & Securities

Issuer/ Manager
AUCKLAND COUNCIL
Securities
AUCKLAND COU NOK1.4B 4%N280909 - XS0964196603 - 2ZFB
AUCKLANDCOEU185M 2.125%N340324 - XS1045821847 - 3E4B
AUCKLANDCOUN EU500M1%N270119 - XS1520344745 - 67KB
AUCKLANDC NOK1B 2.0775%N311128 - XS1514161956 - 61YB
AUCKLANDC EUR500M0.125%N290926 - XS2055663764 - KJIB
Stapled Security
No

Announcement Details

Announcement Title
Annual Reports and Related Documents
Date &Time of Broadcast
27-Sep-2019 04:49:41
Status
New
Report Type
Annual Report
Announcement Reference
SG190927OTHRHMC4
Submitted By (Co./ Ind. Name)
Andrew John
Designation
Funding Manager
Effective Date and Time of the event
27/09/2019 17:00:00
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
Media release

27 September 2019

Auckland Council Group publishes 2018/2019 annual report

Continued population growth. Strong demand for council services. Solid financial performance.

Auckland Council Group s Chief Executive Stephen Town says the annual report shows how the council is responding to this growth.

Together we are working hard to deliver for Auckland providing the day-to-day services that keep the city running while also building for a future that will make Auckland a world class city.

The overall result was solid with an operating surplus before gains and losses of $791 million.

2018/2019 was the first year of the 10-year Budget 2018-2028, which pledged $26 billion programme of capital investment to ensure infrastructure development keeps pace with demand. Up to 30 June 2019, a record $2 billion of capital was invested by the council. This included over $700 million on transport infrastructure and $550 million on water infrastructure.

Group Chief Financial Officer Matthew Walker comments:

Strong cash flows from operations limited the reliance on borrowings to fund the capital programme meaning only 22 per cent of our capital expenditure needed to be funded from borrowing. Net borrowings increased by $445 million over the year to a total debt of $8.7 billion. At the same time, total assets grew by $1.4 billion to $53 billion.

The solid financial results and prudent financial strategy are recognised by Auckland Council s credit ratings with S&P Global Ratings and Moody s remaining at AA and Aa2 respectively, both with a stable outlook.

Further information
To find out more on the overview, service performance, local board and financial performance for the Auckland Council Group, refer to the Auckland Council Annual Report 2018/2019 and the Auckland Council Summary Annual Report 2018/2019 available on the council s website.

ENDS

For further information please contact:
Eileen Cameron
Senior Media Specialist
Eileen.cameron@aucklandcouncil.govt.nz
+64 21 527 894

Additional Details

Period Ended
30/06/2019

Attachments

Annual Report medial release - 27 September 2019.pdf
Total size =157K