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Prepare a vertical analysis of income and expenses that make up EBITDAFI (using total income as the base amount) and give some short comments on the relative significance of income and expense items and how they have changed over time. ** Please note that the vertical analysis has already been completed below**

Auckland Airport 4 year Summary
Vertical trend analysis
	Percent	2018	Percent	2017	Percent	2016	percent	2015
Income
Airfield Income	17.9	122.1	19.0	119.6	18.0	103.4	18.3	93.3
Passenger Services Charge	26.2	179.1	27.7	174.3	27.0	154.9	27.7	140.9
Retail Income	27.9	190.6	25.9	162.8	27.4	157.5	26.0	132
Rental Income	14.3	97.6	13.5	84.9	13.0	74.7	12.7	64.6
Rates Recoveries	0.9	6	0.9	5.6	0.9	5.4	1.0	5.1
Car Park Income	8.9	61	8.9	56.3	9.1	52.1	9.2	46.6
Interest Income	0.3	2.2	0.4	2.3	0.3	1.7	0.6	3.3
Other Income	3.7	25.3	3.7	23.5	4.2	24.2	4.5	22.7
Total Income		683.9		629.3		573.9		508.5
Expenses
Staff	8.5	57.9	8.0	50.5	8.2	46.8	9.1	46.3
Asset management, maintenance and airport operations	10.2	69.5	8.8	55.6	8.6	49.1	8.7	44.2
Rates and Insurance	2.0	13.7	1.9	12.2	2.0	11.5	2.1	10.7
Marketing and Promotions	2.0	13.8	2.7	16.7	2.8	16.3	2.6	13.2
Other Expenses	3.3	22.6	3.4	21.2	3.5	19.9	2.8	14.1
Total Expenses	26.0	177.5	24.8	156.2	25.0	143.6	25.3	128.5
EBITDAFI	74.0	506.4	75.2	473.1	75.0	430.3	74.7	380.0

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