Napier Port Holdings Ltd · NZX:NPH
Napier Port — Shareholder Meeting (December 2019)
42 slides from Napier Port's shareholder meeting presentation, Dec 20, 2019
Slide 1: Building for the Future
BUILDING FOR THE FUTURE ANNUAL SHAREHOLDERS MEETING 2019 NAPIER CONFERENCE CENTRE 20 DECEMBER 2019
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Napier Port Holdings Limited (together with Port of Napier Limited, "Napier Past performance: Any past performance information given in this presentation is given for illustrative purposes only Port"). This presentation is being
Slide 3: Alasdair MacLeod, Chairman
NAPIER” PORT Te Herenga Waka o Ahuriri ALASDAIR MACLEOD CHAIRMAN
Slide 4: Directors
DIRECTORS ALASDAIR MACLEOD STEPHEN MOIR DIANA PUKETAPU WENDIE HARVEY VINCENT TREMAINE JOHN HARVEY HON RICK BARKER BLAIR O’KEEFFE
Slide 5: Meeting Agenda
MEETING AGENDA Chair’s address Chief Executive’s address Consideration of the 2019 annual report and financial statements Ordinary business - Resolutions General business Refreshments
Slide 6: 2019 Highlights
2019 HIGHLIGHTS • 2019 a year of significant change and progress • Good start as a publicly-listed company; results in line with forecasts • Focus on strategic purpose to build a thriving region by connecting our customers, people and community to the world • Balance sheet to support growth • Delive
Slide 7: Chief Executive's Address
NAPIER’ PORT Te Herenga Waka o Ahuriri CHIEF EXECUTIVE’S ADDRESS
Slide 8: Todd Dawson, Chief Executive
NAPIER” PORT Te Herenga Waka o Ahuriri TODD DAWSON CHIEF EXECUTIVE
Slide 9: An Agile and Resilient Port
NAPIER Te Herenga Waka o Ahuriri
Slide 10: Key Business Strengths
KEY BUSINESS STRENGTHS A LONG-TERM ASSET ESSENTIAL TO THE HEALTH OF THE HAWKE’S BAY ECONOMY An infrastructure asset essential to the health of the Hawke’s Bay economy Strong regional economic growth drivers and strong key customer relationships Diversified trade portfolio mitigates sector and countr
Slide 11: Strategic Direction
NAPIER” STRATEGIC DIRECTION PORT Te Herenga Waka o Ahuriri TOGETHER WE BUILD A THRIVING REGION OUR BY CONNECTING OUR CUSTOMERS, PURPOSE PEOPLE AND COMMUNITY TO THE WORLD OUR TEAM PLANS BUSINESS OBJECTIVES ESC BanGN gp CULTURE OF CARE
Slide 12: Highlights
NAPIER’ PORT Te Herenga Waka o Ahuriri HIGHLIGHTS
Slide 13: Highlights
HIGHLIGHTS 5.5 MILLION TONNES 97 OF OUR % $ .6 $6.8 NET PROFIT AFTER TAX CARGO PEOPLE PRO $19.8M MILLION FORMA NPAT ARE NOW 2.5 SHAREHOLDERS REVENUE 687 – CENTS PER SHIP CALLS 9 THOUSAND SHAREHOLDERS UP 8.6% SHARE DIVIDEND
Slide 14: Kristen Lie, Chief Financial Officer
KRISTEN LIE CHIEF FINANCIAL OFFICER
Slide 15: Cargo Volumes Strong
CARGO VOLUMES STRONG 50 THOUSAND TEU THROUGH PORT PACK 9% WOODPULP 5% 2.6 MILLION TONNES TIMBER OF LOG EXPORTS – UP 16.9% FY19 CARGO BY 5% APPLES 5000 WEIGHT ADDITIONAL TEU & PEARS 271,000 TEU IN TOTAL 59% 4% LOGS MEAT 5.5 MILLION TONNES OF CARGO HANDLED – UP 7% 11% OTHER
Slide 16: Hawke's Bay a Popular Destination (Cruise)
CRUISE HAWKE’S BAY A POPULAR DESTINATION $4.0 3.7 3.6 80 70 CRUISE CALLS – UP 13 $3.5 $3.0 2.6 70 60 $2.5 50 22.8% GROWTH Visits Millions IN CRUISE CALLS $2.0 40 $1.5 30 46.1% GROWTH IN CRUISE REVENUE $1.0 20 $0.5 10 $28 MILLION SPENT BY CRUISE PASSENGERS $- FY2018 FY2019 FY2019F - Revenue (LHS) Vis
Slide 17: Strong Revenue Result
STRONG REVENUE RESULT 8.6% REVENUE GROWTH YEAR-ON-YEAR 2.4% OTHER $99.6 MILLION REVENUE 3.8% CRUISE FY19 REVENUE 32.4% 61.4% BULK CONTAINER CARGO SERVICES
Slide 18: Profit Result Ahead of Forecast
PROFIT RESULT AHEAD OF FORECAST NPAT AND PROFORMA NPAT $25 19.8 19.2 $20 Millions 17.6 $15 $10 6.8 5.6 $5 $- FY2018 FY2019 FY2019F NPAT (reported) Pro forma NPAT
Slide 19: Capital Expenditure
CAPITAL EXPENDITURE GROWING DEVELOPMENT CAPEX • Capital expenditure* increased $5.4m Breakwater compared to 2018 Thames II Strengthening • $9.0m in spend on projects in-progress and replacement programmes expected to be completed during FY2020 $80 76.1 $70 $60 $50 Millions $40 $30 $20 18.5 $10 $- FY
Slide 20: Balance Sheet Ready for 6 Wharf
BALANCE SHEET READY FOR 6 WHARF FY2019 FY2018 Var FY2019F Var $M $M $M $M $M Cash & cash equivalents 31.2 (0.1) +31.3 20.1 +11.2 Property, plant & equipment 317.2 309.6 +7.6 326.3 -9.1 Other net liabilities (12.9) (16.6) -3.7 (11.1) -1.8 Loans and borrowings - 80.5 -80.5 - - Equity balances 335.5 21
Slide 21: Todd Dawson, Chief Executive
NAPIER” PORT Te Herenga Waka o Ahuriri TODD DAWSON CHIEF EXECUTIVE
Slide 22: Master Plan
NAPIER” MASTER PLAN PORT Te Herenga Waka o Ahuriri SURI CONNECTIONS JUL - DEC 2018 JAN - APR 2019 MAY - DEC 2019 STAGE ONE | STAGE TWO _. STAGE THREE » options « ONGOING STAKEHOLDER ENGAGEMENT AND FEEDBACK 3399999: 3999999: p3999999 p3999999: p3999999 35 Baseline N Master Plan , Finalise research ‘
Slide 23: Kaweka | Building Capacity
KAWEKA | BUILDING CAPACITY
Slide 24: Thames II | Building Capacity
THAMES II | BUILDING CAPACITY
Slide 25: 6 Wharf | Building Capacity
6 WHARF | BUILDING CAPACITY
Slide 26: United Nations Sustainable Development Goals
UNITED NATIONS SUSTAINABLE THE SDGS INVOLVE US ALL TO BUILD A MORE SUSTAINABLE, SAFER, MORE PROSPEROUS PLANET FOR ALL HUMANITY DEVELOPMENT – UNITED NATIONS GOALS
Slide 27: Health & Safety Incidents
HEALTH & SAFETY INCIDENTS WHAT NEEDS TO CHANGE SERIOUS INCIDENTS Two serious harm incidents PRIORITY IMPLICATIONS • Refocus on health and safety risks and critical risk controls • Further investment in health and safety systems and engineered controls to remove people from harms way
Slide 28: Investing in Our People
INVESTING IN OUR PEOPLE OUR CULTURE IS OUR POINT OF DIFFERENCE Port Emergency Warning System • Improving health and safety • Supporting the wellbeing of our people • Embracing Te Ao Māori Wellbeing Port Emergency Fatigue Embracing Programme Warning System Working Group Te Ao Māori
Slide 29: Alasdair MacLeod, Chairman
NAPIER” PORT Te Herenga Waka o Ahuriri ALASDAIR MACLEOD CHAIRMAN
Slide 30: Financial Reports and Statements: Shareholder Questions
FINANCIAL REPORTS AND STATEMENTS: SHAREHOLDER QUESTIONS
Slide 31: Ordinary Business
NAPIER’ PORT Te Herenga Waka o Ahuriri ORDINARY BUSINESS
Slide 32: Diana Puketapu, Independent Director
DIANA PUKETAPU INDEPENDENT DIRECTOR
Slide 33: Resolution 1: Re-elect Alasdair MacLeod
RESOLUTION 1 To re-elect Alasdair MacLeod as a director of the company
Slide 34: Resolution 1: Proxy Results
RESOLUTION 1 To re-elect Alasdair MacLeod as a director of the company For Against Abstain Proxies 137,072,281 8,726 7,692 (99.65%) (0.01%)
Slide 35: Resolution 2: Re-elect Stephen Moir
RESOLUTION 2 To re-elect Stephen Moir as a director of the company
Slide 36: Resolution 2: Proxy Results
RESOLUTION 2 To re-elect Stephen Moir as a director of the company For Against Abstain Proxies 137,071,345 9,846 7,692 (99.65%) (0.01%)
Slide 37: Resolution 3: Auditors' Remuneration
RESOLUTION 3 To authorise directors to fix the Auditors remuneration for the ensuing year
Slide 38: Resolution 3: Proxy Results
RESOLUTION 3 To authorise directors to fix the Auditors remuneration for the ensuing year For Against Abstain Proxies 137,041,546 7,202 11,252 (99.63%) (0.01%)
Slide 39: Voting
NAPIER’ PORT Te Herenga Waka o Ahuriri VOTING
Slide 40: General Business
NAPIER’ PORT Te Herenga Waka o Ahuriri GENERAL BUSINESS
Slide 41: Meeting Closed
NAPIER’ PORT Te Herenga Waka o Ahuriri MEETING CLOSED
Slide 42: Building for the Future
BUILDING FOR THE FUTURE ANNUAL MEETING 2019 NAPIER CONFERENCE CENTRE 20 DECEMBER 2019
Napier Port Holdings — Shareholder Meeting (December 2019) on 6ix