20251112-002_3 FY 25 Preliminary Year End Results — original pdf

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FY25 Financial Year End Results - Preliminary Austin Aviation| 11/12/25 Airport Advisory Commission FY25 Enplanements AUS - FY Enplanements (Millions) 94% 10.1 11.0 11.0 10.7 11% 5.2 9% 0% -3% 12.0 10.0 8.0 6.0 4.0 2.0 0.0 8.5 9% 4.7 -45% FY19 FY20 FY21 FY22 FY23 FY24 FY25 Enplanements YoY Growth 110% 90% 70% 50% 30% 10% -10% -30% -50% -70% FY26 enplanement growth needs to be 6% to hit FY26 budgeted target. Budgeted growth was 3% or 11.3M enplanements. 2 FY25 Preliminary Financial Results FY25: • FY25 Operating Revenues exceeded budget by $1.4M or 0.4% • FY25 Airport operating expenses were $150k favorable to budget or 0.1% FY26 Implications: • No changes or financial impact to the FY26 Budget. • Non-airline revenues for FY26 were held flat versus budgeted FY25. • Budgeted enplanement growth is the most challenging element. 3 FY25 Operating Revenue: FY25 vs Budget Budget FY25 Preliminary FY25 Fav (Unfav) $ Variance Fav (Unfav) % Variance Operating Revenue Airline Revenue Landing Fees Terminal Rental & Other Fees Total Airline Revenue Non-Airline Revenue Parking Ground Transportation for Hire Rental Cars Food & Beverage Retail Advertising Other Concessions, Rentals & Fees Total Non-Airline Revenue 59,625,915 111,271,727 170,897,642 62,435,446 113,181,332 175,616,778 2,809,531 1,909,605 4,719,136 81,247,697 11,615,065 21,948,757 20,109,576 7,508,056 5,148,000 27,509,304 175,086,455 79,365,307 11,135,050 20,707,247 20,101,474 6,826,153 6,674,020 26,732,084 171,541,335 (1,882,390) (480,015) (1,241,510) (8,102) (681,903) 1,526,020 (777,221) (3,545,120) Interest Income 5,000,000 5,250,600 250,600 Total Operating Revenue 350,984,097 352,408,713 1,424,616 Revenue per Enplanement 30.16 32.92 2.76 4.7% 1.7% 2.8% (2.3%) (4.1%) (5.7%) (0.0%) (9.1%) 29.6% (2.8%) (2.0%) 5.0% 0.4% 9.2% Lower than budgeted enplanements impacted non- airline revenues most heavily resulting in a 2% unfavorable variance to the budget Favorable variance in airline revenue streams results from stronger than anticipated landing fee collections and differences in fees from original budget to published fee schedule 4 FY25 Airport Operating Expense: FY25 vs Budget Airport Operating Expenses Personnel Contractuals Commodities Non-CIP Capital Expense Refunds Total Operating Expenses Budget FY25 Preliminary FY25 Fav (Unfav) $ Variance Fav (Unfav) % Variance 82,475,112 88,162,829 7,376,741 224,000 - 178,238,682 82,408,904 87,428,898 8,051,564 216,078 (16,632) 178,088,812 66,208 733,931 (674,823) 7,922 16,632 149,870 0.1% 0.8% (9.1%) 3.5% 0.0% 0.1% • Contractuals – Facility service staff augmentation, APD Personnel cost and building maintenance were unfavorable, but were offset cost by savings in information systems, legal fees, and consulting costs • Building maintenance, information systems, mechanic shop, and parking commodities drove the unfavorable variance to budget 5 FY25 Financial Summary Audited FY24 Budget FY25 Preliminary FY25 v. FY24 Fav (Unfav) $ Variance v. FY24 Fav (Unfav) % Variance v. Budget Fav (Unfav) $ Variance v. Budget Fav (Unfav) % Variance Revenue Airline Revenue Non-Airline Revenue Interest Income Total Operating Revenue Operating Expenses Aviation Operating Expenses City of Austin Transfers Operating Reserve Short Term Debt Interest Debt Service (Net of PFC) Total Requirements Net Income 152,292,715 165,656,460 5,001,851 322,951,026 159,610,865 15,658,819 5,619,992 - 61,573,238 242,462,914 170,897,642 175,086,455 5,000,000 350,984,097 178,238,682 20,496,346 3,060,677 - 81,053,612 282,849,317 175,616,778 171,541,335 5,250,600 352,408,713 178,088,812 20,496,346 3,982,435 1,030,457 79,043,976 282,642,026 23,324,062 5,884,875 248,749 29,457,687 (18,477,947) (4,837,527) 1,637,557 (1,030,457) (17,470,738) (40,179,112) 80,488,112 68,134,780 69,766,687 (10,721,425) Debt Service Reserve Fund Excess Funding Net Transfer to Capital Fund - - 80,488,112 68,134,780 9,546,000 79,312,687 9,546,000 (1,175,425) 15.3% 3.6% 5.0% 9.1% (11.6%) (30.9%) 29.1% N/A (28.4%) (16.6%) (13.3%) N/A (1.5%) 4,719,136 (3,545,120) 250,600 1,424,616 149,870 - (921,758) (1,030,457) 2,009,636 207,291 1,631,907 9,546,000 11,177,907 2.8% (2.0%) 5.0% 0.4% 0.1% 0.0% (30.1%) N/A 2.5% 0.1% 2.4% N/A 16.4% FY25 transfer to capital fund (net revenues) would have been $10.7M lower than FY24 due to higher debt service requirement of $79M in FY25 versus $61.5M in FY24. The excess debt service reserve fund release of $9.5M closed the gap to only a $1.2M variance. FY25 transfer to capital fund was $1.6M favorable to budget excluding the excess debt service reserve fund transfer. 6 Questions?