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Auckland Council

Interim Report 31 December 2018

What the interim report details

This report details Auckland Council Group's results for the six months to 31 December 2018.

Group highlights

  • Revenue of $3,261 million, ahead of the six months ended 31 December 2017 by $258 million.
  • Surplus after income tax of $1,039 million, against the 31 December 2017 surplus of $976 million.
  • Total net debt was $8,285 million, which has increased by $63 million in the last six months.
  • Total assets amounted to $52.4 billion, an increase of $938 million from 30 June 2018.

This performance demonstrates the strength in our financial management and a continued focus on delivering the group's 10-year budget.

The group's challenge is to balance the costs of delivering and maintaining services against the infrastructure investment demands of a growing city. 

We are committed to providing cost effective services and a prudent approach to management of debt.

Some of the areas the group invested in during the last six months are:

  • public transport and roading - $268 million
  • water and waste water infrastructure - $160 million
  • community services assets - $128 million.

Credit ratings

The group's credit ratings of AA from Standard and Poor's and Aa2 from Moody's were reaffirmed in September and October 2018 respectively. Both ratings are stable.

Get a copy of the interim report