Port of Tauranga (POT) investor relations material

Executive summary

• Underlying group net profit after tax reached a record $155.3 million, up 23.2% year-over-year, driven by revenue uplift, cost savings, and productivity initiatives.

• Reported net profit after tax was $156.1 million, down 10% due to a prior year one-off gain from the Northport sale.

• Full year dividend increased 22.8% to 20.5 cents per share, with a payout ratio of 90% of underlying earnings.

• Trade volumes remained flat, with total trade down 3% to 24.6 million tonnes and bulk volumes down 5.9%.

• Container volumes increased 0.4% to 1,213,494 TEUs, with export and import volumes up but transhipment down.

Financial highlights

• Operating revenue grew 4.7% to $486.5 million, while operating costs fell 6.2% to $221.7 million due to MetroPort model changes.

• EBITDA increased 17.6% to $275.7 million.

• Results from operating activities rose 15.9% to $264.7 million.

• Strong cash generation: operating cash flow up 19.4% to $205.4 million.

• Group capex for the period was $86 million, with major projects including dredging and hybrid tug purchases.

Outlook and guidance

• Full year underlying earnings guidance for FY2027 is $160 million–$175 million.

• Another strong export peak season expected in FY2027, with dairy, red meat, and kiwifruit leading; logs to remain subdued.

• Productivity, cost control, and yield improvement remain priorities.

• Terminal berth capacity constraints and Stella Passage consent decision are key near-term factors; capacity constraints will persist until Stella Passage is completed.

• Further earnings guidance to be provided at the October 2026 Annual Meeting.