Napier Port Holdings Limited Analysis

Overview

Napier Port has been serving Hawke's Bay and surrounding regions for nearly 150 years. As the fourth largest port in New Zealand, by container volumes, Napier Port helps to build a thriving region by connecting customers and the community to global markets.

Napier Port offers a range of container, bulk cargo and cruise vessel services. In FY2018, the port managed the arrival and departure of over 680 ships, handled over five million tonnes of cargo and more than 100,000 cruise passengers.

Performance

The following information was extracted from Napier Port Holdings Limited's Half year results, released 21 May 2025

HIGHLIGHTS

• Revenue rose 10.6% to $78.1 million from $70.6 million in the same period last year and was led by growth in container services revenue
• Result from operating activities increased 21.1% to $33.1 million from $27.4 million in the same period last year
• Underlying net profit after tax increased 33.4% to $14.8 million from $11.1 million in the same period a year ago
• Reported net profit after tax increased 40.8% to $20.2 million from $14.3 million in the same period last year
• Final settlement of Cyclone Gabrielle material damage and business interruption insurance claim contributes $7.5 million to reported net profit
• Container volumes increased 13.9% on Pan Pac’s return to full pulp and timber operations, an earlier apple picking season and increased restow and transhipment activity
• Directors declare a fully imputed interim dividend of 4.0 cents per share, increased from the interim dividend in the prior year of 3.0 cents per share
• An additional one-off fully imputed special dividend of 2.5 cents per share declared
• Increased forecast underlying result from operating activities for the year to 30 September 2025 of between $59 million and $63 million

Chief Executive, Todd Dawson said: “This positive half-year result reflects Napier Port’s strong operational performance under improved trading conditions. The full resumption of Pan Pac’s pulp and timber operations has driven a notable increase in dry export container volumes. Meanwhile, favourable growing conditions led to an earlier apple harvest, boosting refrigerated container throughput.