South Port New Zealand (SPN) AGM 2026 summary

Opening remarks and agenda

• 38th AGM covered the year ended 30 June 2026; agenda included the annual report, director elections, auditor remuneration and directors’ fees.

• 67 valid proxies represented 20,765,498 shares, or 79.15% of shares on issue.

Financial performance review

• Record after-tax profit was NZD 16.11m, up 21%; normalized NPAT excluding one-offs was NZD 16.14m, up 16.2%.

• Revenue rose 14% to NZD 71.8m; cargo volumes increased 11.5% to a record 3.9m tonnes, and container throughput rose 18.5% to 66,000 TEUs.

• Tiwai Wharf volumes increased 16.1% to 0.94m tonnes, nearing historical levels.

• FY27 Q1 cargo totaled 1.025m tonnes, up 13%; FY27 volumes are expected broadly in line with FY26.

Board and executive committee updates

• Philip Cory-Wright retired after 16 years on the board, including three as Chair; Nicola Greer assumed the Chair role after the meeting.

• Derek Nind became CEO in July 2026; Nigel Gear completed his CEO term in May after more than 30 years with the business, including 8.5 years as CEO.

• People and Performance Committee was established, chaired by Cassandra Crowley; the Health and Safety Panel became a board committee chaired by Jacqui Nelson.

• Sam Grant completed his board internship; selection for the next Southland Corporate Governance Intern Programme participant was underway.