Napier Port (NPH) investor relations material

Executive summary

• Revenue grew 8.8% year-over-year to $84.9 million, driven by strong container services, robust export demand, and favorable growing conditions.

• Underlying net profit after tax rose 21.5% to $17.9 million, reflecting operational improvements and a diversified cargo base.

• Reported net profit after tax decreased 10.8% to $18.0 million due to prior year’s Cyclone Gabrielle insurance settlement.

• Strategic investment program advancing, enhancing capacity, resilience, and efficiency.

• Confident outlook for the second half, despite global market uncertainties and cost pressures.

Financial highlights

• Total revenue up 8.8% to $84.9 million, led by 16.7% growth in container services revenue to $49.9 million.

• Result from operating activities increased 12.5% to $37.3 million; underlying net profit after tax up 21.5% to $17.9 million.

• Bulk cargo revenue rose 5.9% to $27.0 million, despite a 1.5% decrease in volume; average revenue per tonne up 7.5%.

• Cruise revenue fell 21.8% to $6.4 million, with 54 vessel calls versus 77 last year, but higher average revenue per vessel.

• Interim dividend increased to 5.25 cents per share, up from 4.0 cents last year.

Outlook and guidance

• Full-year underlying result from operating activities expected between $70 million and $74 million, guidance reaffirmed.

• Strong demand for food and fibre exports anticipated to support solid volumes and earnings in the second half.

• 52 cruise bookings for the 2027 season, with some risk of weather-related cancellations.

• Ongoing global market uncertainty and rising costs for exporters/importers may pose headwinds.

• No significant direct trade disruption from Middle East events, but inflation risks remain.