South Port New Zealand (SPN) investor relations material

Executive summary

• Achieved record financial results in FY26, with all-time highs in cargo volumes, revenue, and profit, driven by strong regional economic performance, agricultural and forestry activity, and recovery in aluminium smelter throughput.

• Significant growth in ship calls, container volumes (up 18.5% to 62,000 TEUs), and warehousing activity, reflecting robust operational performance.

• One-off wind farm project cargo contributed materially to revenue, with 36 wind turbine units handled and more such opportunities expected.

• Leadership transition with a new CEO appointed in July 2026 and a new Chair to assume the role in October, positioning for future growth.

• Opportunities identified for further cargo growth, especially in wind farm and aquaculture projects.

Financial highlights

• Operating revenue rose 14% year-over-year to $71.85m, supported by strong bulk and container activity and Tiwai Aluminium Smelter recovery.

• EBITDA increased 16% to $29.9m, with margin up to 42%.

• Normalised NPAT up 16.2% to $16.14m; reported NPAT up 21% to $16.11m.

• Net debt reduced by $6.5m to $18.5m, with net debt to EBITDA at 0.6x.

• Dividend increased to 29cps, delivering a gross yield of 4.8%.

Outlook and guidance

• Trade volumes in FY27 expected to remain strong but without one-off project cargoes; medium- to long-term growth opportunities in wind farms, aquaculture, and large-scale projects.

• Downside risks include absence of project cargo, increased resource and maintenance requirements, and global geopolitical uncertainty.

• Significant CapEx planned in the short to medium term, including infrastructure upgrades and potential replacement of tug and mobile harbor crane.

• Port planning exercise underway to optimise infrastructure and support future growth.

• Further update to be provided at the ASM in October.