Channel Infrastructure NZ (CHI) Q3 2026 TU earnings summary

Executive summary

• Q3 fuel throughput was 829 million litres, broadly in line with Q3 2025; YTD volumes remained in line with the Envisory fuel demand outlook and expectations.

• A 15-year bp contract for additional jet and diesel storage is expected to generate approximately $130 million in revenue over its term.

Financial highlights

• Conversion spend reached approximately $194 million at 30 September 2026, remaining within budget.

• Net borrowings were $365 million at 30 September 2026, compared with $346 million at 30 June 2026.

Outlook and guidance

• YTD combined fuel throughput remained in line with the Envisory demand outlook and expectations; the outlook is annual by fuel type, with historical data used for FY26 seasonality.

• Bitumen import terminal construction remained on track for delivery in late Q4 2026; the final bund upgrade phase is expected to continue through end-2027.