Napier Port (NPH) AGM 2025 summary

Opening remarks and agenda

• Formal welcome extended to in-person and online attendees, with introductions of board members and senior management.

• Housekeeping and safety instructions provided, and meeting format outlined, including presentations, Q&A, and voting procedures.

• Quorum confirmed and meeting formally opened, with proxies representing 80.3% of shares.

• Meeting agenda included addresses from the Chair, Chief Executive, and Chief Financial Officer, followed by questions, resolutions, and general business.

Financial performance review

• Achieved record highs in total revenue, operational results, net profits, and dividends, with milestone revenue of NZD 157.7 million, up 11.6% year-on-year.

• Net profit after tax reached NZD 30.9 million, a 24.4% increase.

• Operating activities result rose 23.5% to NZD 64.2 million; operating cashflow grew to NZD 63.6 million, with total drawn debt reduced to NZD 107 million.

• Cargo handled reached 5.1 million tonnes, with 250,000 TEU containers and 78 cruise vessels; container volumes and yield management drove growth.

• Final settlement of Cyclone Gabrielle insurance claim added NZD 7.5 million to pre-tax profit.

Board and executive committee updates

• Election and re-election of directors, including Hamish Stevens, Kylie Clegg, and Dan Druzianic, with each outlining their experience and focus areas.

• Stephen Moir retired after nine years, recognized for his governance during key events.

• Board comprised Stephen Moir, Debbie Birch, Vincent Tremaine, John Harvey, Kylie Clegg, Dan Druzianic, and Hamish Stevens.

• Chair Blair O'Keeffe, CEO Todd Dawson, and CFO Kristen Lie delivered key addresses.