Port of Tauranga (POT) H2 2025 earnings summary

Executive summary

• Group reported net profit after tax rose to $173.4 million, including a $49.2 million one-off gain from the Northport sale, with underlying earnings up 23.2% to $126.0 million year-over-year for FY25.

• Total trade volume increased 7.0% to 25.3 million tonnes, with container volumes up 5.3% to 1.21 million TEU and strong growth in key export commodities.

• Ordinary dividends increased 13.6% to 16.7 cents per share, reflecting robust financial performance.

Financial highlights

• Revenue grew 11.4% to $464.7 million compared to FY24.

• Group underlying earnings rose 23.2% to $126.0 million, excluding one-off items.

• Results from operating activities increased 14.9% to $228.4 million, driven by higher revenue and partially offset by increased operating costs.

• Net profit after tax was $173.4 million, up from $90.8 million in FY24, including the Northport gain.

• Net debt to net debt plus equity ratio remained stable at 16.8%.

Outlook and guidance

• Solid export demand expected to continue into FY26, with modest domestic growth anticipated in the second half.

• Productivity, cost control, and yield improvement initiatives remain a priority.

• Capital dredging project to commence Q2 FY26; Sulphur Point berth extension and automation capex pushed to FY27.

• FY26 earnings guidance to be provided at the ASM in October.