Port Of Tauranga Limited · NZX:POT
Port Of Tauranga — FY2025 Earnings Presentation
53 slides from Port Of Tauranga's earnings presentation, Aug 29, 2025
Slide 1: Presentation to Analysts
Presentation to Analysts 29 August 2025
Slide 2: Disclaimer
Disclaimer The information in this presentation is for information purposes and has been prepared by Port of Tauranga Limited with due care and attention. However, neither the Company, nor any of its Directors, officers, employees, contractors or agents, shall have any liability whatsoever to any pe
Slide 3: Highlights and challenges
For the year ended 30 June 2025 Highlights and challenges Financial Group Net Profit After Tax 1 million 2024 S008 2025 . 2023 Sui171 Revenue Subsidiary and associate company earnings ms $464.72 mm $10.9 million million 2024 S4i74 2024 $94 2023 $4209 2023 S133 Total ordinary Final dividend dividend
Slide 4: Group reported net profit after tax up 90.8%
Group reported net profit after tax up 90.8% For the year ended 30 June 2025 $200 $180 173.373 $160 $140 $120 117.136 111.317 102.375 millions (NZD) $100 90.849 $80 $60 $40 $20 $0 FY21 FY22 FY23 FY24 FY25 4
Slide 5: Group underlying earnings
Group underlying earnings For the year ended 30 June 2025 $180 173.373 $170 $160 $150 millions (NZD) $140 $130 1.824 126.036 (49.161) $120 $110 $100 Reported Profit Net gain on sale of Northport Asset impairments on revaluation Group underlying earnings (net of tax) 5
Slide 6: Group underlying earnings up 23.2%
Group underlying earnings1 up 23.2% For the year ended 30 June 2025 $140.000 126.036 117.792 $120.000 112.357 104.058 102.290 $100.000 millions (NZD) $80.000 $60.000 $40.000 $20.000 $0.000 FY21 FY22 FY23 FY24 FY25 Refer to appendix 1 for a reconciliation of underlying earnings 6
Slide 7: A stronger second half performance
A stronger second half performance For the year ended 30 June 2025 Group underlying earnings increased by 9.4% in the second half $140.000 $10.899 1/2 FY25 2/2 FY25 Movement $120.000 Trade volumes tonnes 12,435,675 12,871,387 3.5% $100.000 Total containers (TEUs) 591,934 616,318 4.1% millions (NZD)
Slide 8: Subsidiaries and Joint Ventures net profit after tax up 15.6%
Subsidiaries and Joint Ventures net profit after tax up 15.6% For the year ended 30 June 2025 $20,000 $17,840 $14,952 $15,000 $13,347 $10,899 000s (NZD) $10,000 $9,431 $5,000 $0 FY21 FY22 FY23 FY24 FY25 8
Slide 9: Subsidiary and joint venture companies
Subsidiary and joint venture companies For the year ended 30 June 2025 FY25 FY24 Movement $000 $000 $000 Quality Marshalling 3,429 3,371 58 Timaru Container Terminal 578 181 397 PrimePort Timaru 1,464 1,023 441 Northport 7,055 7,159 (104) PortConnect 150 275 (125) Coda (1,909) (1,182) (727) Ruakura
Slide 10: Ordinary dividends increased 13.6%
Ordinary dividends increased 13.6% For the year ended 30 June 2025 16.7 16 15.6 14.7 14.7 14 13.5 CPS 12 10 FY21 FY22 FY23 FY24 FY25 10
Slide 11: Total trade increased 7%
Total trade increased 7% For the year ended 30 June 2025 25.6 25.3 24.7 23.6 tonnes 16.4 (millions) 15.9 15.7 15.8 9.7 9.0 8.9 7.8 FY22 FY23 FY24 FY25 Total Export incl Tranship Load Import incl Tranship Unload 11
Slide 12: New Zealand's largest port
New Zealand’s largest port Connecting New Zealand and the World Total New Zealand cargo value by Port Total New Zealand tonnes by Port for the year ending June 2025 for the year ending June 2025 25 50 35% 33% 20 40 28% Import Tonnes (millions) NZD (Bilions) 15 30 Export Import 10 12% 20 Export 11% 1
Slide 13: Total bulk cargo volumes increased by 4.8%
Total bulk cargo volumes increased by 4.8% For the year ended June 2025 14,000,000 12,000,000 Coal All Other Goods 10,000,000 Steel Salt Liquid Bulk 8,000,000 Cement Tonnes Grain 6,000,000 Fertilisers Other Wood Product 4,000,000 KiwiFruit Proteins & Feeds Oil Products 2,000,000 Logs - FY21 FY22 FY2
Slide 14: Log exports decreased 5.9%
Log exports decreased 5.9% For the year ended 30 June 2025 6,681,899 6,338,716 6,215,623 6,286,355 6,058,019 5,543,540 log volume - JASm³ FY20 FY21 FY22 FY23 FY24 FY25 14
Slide 15: New Zealand's largest container terminal
New Zealand’s largest container terminal Total New Zealand TEU by Port - Year end June 2025 NZ Ports Overall TEU - Year End June 2024 (exclude Tranship/Restow) Full and Empty TEU (excluding transhipment) Export % Import % Total FY25 % 40% Port of Tauranga 528,037 48% 360,201 32% 888,238 40% 1,000,00
Slide 16: Total container volumes increased 5.3%
Total container volumes increased 5.3% For the year ended 30 June 2025 1,241,061 1,200,831 1,208,252 1,177,350 1,147,350 TEU's FY21 FY22 FY23 FY24 FY25 16
Slide 17: Export volume up 3.4% Import volume up 4.5%
Export volume up 3.4% Import volume up 4.5% For the year ended 30 June 2025 Export containers (TEU) Import containers (TEU) 438,738 519,288 500,735 489,536 486,702 410,233 484,107 404,285 401,415 384,145 TEU's TEU's FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 17
Slide 18: Refrigerated containers increased 19.8%
Refrigerated containers increased 19.8% Record refrigerated volumes - with strong dairy, kiwifruit and meat Reefer container volumes export up 20.5%, transhipment up 22.6% for the year ended 30 June 2025 245,151 209,577 204,685 200,195 reefer TEU's FY22 FY23 FY24 FY25 18
Slide 19: Transhipment container volume increased 9.7%
Transhipment container volume increased 9.7% For the year ended 30 June 2025 306,102 301,062 283,035 286,363 279,098 TEU's FY21 FY22 FY23 FY24 FY25 19
Slide 20: MetroPort containers decreased 4.4%
MetroPort containers decreased 4.4% MetroPort container volume for the year ended 30 June 2025 350,000 95% 324,561 90% 300,000 294,481 average rail utilisation rate 285,701 85% 250,000 80% TEU's 200,000 218,415 75% 208,742 150,000 70% 65% 100,000 60% 50,000 55% 0 50% FY21 FY22 FY23 FY24 FY25 Average
Slide 21: Total dairy volume increased 2.1%
Total dairy volume increased 2.1% For the year ended 30 June 2025 2,120,239 1,993,751 2,010,252 1,942,277 1,924,643 tonnes 237,066 196,326 194,946 178,588 117,904 FY21 FY22 FY23 FY24 FY25 Export Transhipment 21
Slide 22: Kiwifruit volume up 30.3% Container volume up 48.5%
Kiwifruit volume up 30.3% Container volume up 48.5% For the year ended 30 June 2025 695,589 625,805 48,193 575,272 tonnes (000's) 533,656 517,309 TEU's 492,002 37,515 36,675 34,913 32,456 31,055 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 22
Slide 23: Total meat volume increased 9.6%
Total meat volume increased 9.6% For the year ended 30 June 2025 356,519 273,372 241,228 161,617 156,132 tonnes 439,175 451,419 460,698 448,364 413,691 FY21 FY22 FY23 FY24 FY25 Export Transhipment • Strong demand to US driving growth ~60% of total volume • 40% of transhipment volume ex Australia con
Slide 24: Cruise
Cruise Cruise vessel visits to Mount Maunganui 116 107 109 94 cruise vessel calls 90 83 • MPI constraints, increased regulatory costs and 0 0 vessel repositioning costs impacting 26/27 FY19 FY20 FY21 FY22 FY23 FY24 FY25 25/26 (F) seasons. 24
Slide 25: New Zealand port productivity
New Zealand port productivity Source: FIGS, Ministry of Transport • Direct correlation between vessel on time performance and port productivity. • Last NZ port call impact exacerbates impact to Tauranga. • Project team looking at all areas to improve productivity while we await berth extension. 25
Slide 26: On-time vessel performance – Tauranga
On-time vessel performance – Tauranga • On-time proforma berth arrival - calculated as arrival at Pilot Station within six hours of scheduled berth window. • On-time arrival in Tauranga average for FY25 - 55% vs 66% in FY24. • Proforma windows reinstated in March 2023, following three years of suspe
Slide 27: Results from operating activities up 14.9%
Results from operating activities up 14.9% For the year ended 30 June 2025 47.300 240.000 228.399 (17,695) 220.000 198.794 200.000 millions (NZD) 180.000 160.000 140.000 120.000 100.000 Results from operating activities Increase in revenue Increase in operating costs Results from operating activitie
Slide 28: Port of Tauranga Limited returns
Port of Tauranga Limited returns ROIC Target of 7% on operational assets Actual Operational Non-core Investments in and Focus areas across the business FY25 assets assets advances to EAIs for ROIC improvement $000 $000 $000 $000 • Volume growth and new business Total • Productivity and efficiency In
Slide 29: Recycle capital - land holdings
Recycle capital - land holdings 29
Slide 30: Capital dredging
Capital dredging Existing • Port of Tauranga capital dredging campaign to commence in FY26 – completed by mid-2027. • Available draught will be 14.5 metres low water and 16 metres high water. • Provides the ability to serve vessels ~12,000 - 15,000 TEU. 30
Slide 31: New Zealand future hub and spoke model
New Zealand future hub and spoke model Government’s inquiry into ports and the maritime sector • New Zealand must modernise its port sector to improve efficiency, expand port capacity to remain competitive in global trade. • Major international shipping lines and exporters support a move to a New Ze
Slide 32: Port of Tauranga is well positioned for hub-and-spoke model
• Port of Tauranga is well positioned for hub-and- spoke model. • Ship build program and pending carbon pricing expected to accelerate vessel cascading. • Growth in population driving increase in imports in the upper North Island. • Industrial land cost and constraints in Auckland driving import dis
Slide 33: Resource consent - update August 2025
Resource consent - update August 2025 • Confirmed switch to Fast-track process in December 2024. • Consultation commenced January 2025. • Fast-track application lodged April 2025. • Fast-track application accepted May 2025. • Judicial Review filed 4 June 2025, incl request for a stay in proceedings.
Slide 34: Six years and counting……
Six years and counting…… 34
Slide 35: Terminal automation project
Terminal automation project Automated Stacking Cranes (ASCs) Progress update • Preferred vendor identified. Contract negotiations underway. • ASC emulation software being implemented at the Tauranga Container Terminal to test ASC technology virtually. • Deployment of ASCs linked to timing of berth e
Slide 36: Why is ASC the preferred automation option?
Why is ASC the preferred automation option ? AutoStrad ASC Highest equipment v personnel safety ✓ Lowest total capital cost ✓ Greatest alignment between capital spend and terminal growth ✓ Lowest operating costs ✓ Highest NPV over equipment lifetime ✓ Lowest risk to quay crane & berth productivity ✓
Slide 37: 32-metre hybrid advanced rotortug
32-metre hybrid advanced rotortug • Diesel electric hybrid tug. • Increased towage capability to accommodate larger vessel sizes. • Increased vessel recovery capability. • Increased sea keeping ability. • Three person crew. • Capital cost circa ~ $30 million. • 20-month delivery timeframe. 37
Slide 38: Total greenhouse gas emissions
Total greenhouse gas emissions For the year ended 30 June 2025 Total Scope 1 and Scope 2 emissions (tCO₂e) Scope 1 and Scope 2 intensity (kg CO₂e per cargo tonne) 21,873 0.84 19,059 18,154 kg CO₂e per cargo tonne tCO₂e 0.75 0.74 FY23 FY24 FY25 FY23 FY24 FY25 • Increased diesel usage – peak season re
Slide 39: Coda operating loss and sale of 3PL business
• Reported an operating loss of - $1.909 million vs a loss of -$1.182 million in the prior corresponding period. • Coda has sold its 3PL business and Rolleston DC in Christchurch to ACFS Port Logistics NZ. • Disposal transaction was completed 1 August 2025. • Coda is now focusing on right sizing its
Slide 40: Ruakura Inland Port profit for the year
• RIP made a profit of $0.132 million for the year up from the loss of - $0.392 million in FY24. • POTL contributed an additional $10.106 million during the period. • RIP has developed 3.37 ha of land into empty container depot yards. This yard is leased to ContainerCo. • RIP handled 22,525 TEU for
Slide 41: Northport Group Limited
Northport Group Limited Takeover of Marsden Maritime Holdings Limited completed 26 June 2025 • Ownership structure: Northport • POT – 50% • Northland Regional Council – 43% • Tupu Tonu – 7% • POTL contributed its Northport shareholding in exchange for equity stake. Marsden Point • Over 150ha of comm
Slide 42: Net debt / net debt + equity
Net debt / net debt + equity For the year ended 30 June 2025 30.0% 25.5% 25.0% 20.0% 17.3% 17.2% 16.9% 16.8% 15.0% 10.0% 5.0% 0.0% FY21 FY22 FY23 FY24 FY25 42
Slide 43: Parent capital expenditure / investment 2021 – 2026
Parent capital expenditure / investment 2021 – 2026 $140,000 $120,000 $100,000 $80,000 $000s 10,106 $60,000 21,450 39,689 90,000 $40,000 2,135 2,850 $20,000 44,322 34,691 23,796 27,221 18,612 $0 FY21 FY22 FY24 FY24 FY25 FY26F Ruakura Inland Port MMH Capex 43
Slide 44: Parent capital expenditure 2026
Parent capital expenditure 2026 FY26 total capex range estimated to be $90 million depending on timings and approvals. Major forecast capital expenditure items for FY26 include: o Capital dredging ~$35 million o New hybrid rotortug ~ $15 million • Sulphur Point berth extension and automation capex p
Slide 45: Outlook 2026
Outlook 2026 • Solid export demand expected to continue for much of FY26. • Modest domestic growth (imports) anticipated second half of year. • Productivity, cost control and yield improvement initiatives remain a priority. • Capital dredging project to commence Q2 FY26. • Stella Passage consent pro
Slide 46: Thank you
Thank you Port of Tauranga Connecting New Zealand and the World
Slide 47: Appendix 1 – Group Underlying Earnings reconciliation
Appendix 1 – Group Underlying Earnings reconciliation For the year ended 30 June 2025 2025 2024 2023 2022 2021 $000 $000 $000 $000 $000 Profit after taxation - reported 173,373 90,849 117,136 111,317 102,375 Asset impairment 0 28 0 0 12 Asset impairment on revaluation 2,534 0 0 1,445 2,326 Reversal
Slide 48: Appendix 2 - Results from operating activities
Appendix 2 - Results from operating activities For the year ended 30 June 2025 2025 2024 Movement Operating Revenue $000 $000 Container terminal - ship exchange and sundry 238,627 215,185 23,442 Container terminal - reefer 30,234 23,889 6,345 Container terminal - storage 15,895 13,677 2,218 Multi-ca
Slide 49: Appendix 3 – Operating costs
Appendix 3 – Operating costs For the year ended 30 June 2025 2025 2024 Movement Contracted services for port operations $000 $000 Container Terminal Labour 43,348 37,668 5,680 Rail costs 48,979 56,978 (7,999) Reefer Monitoring 1,056 925 131 Other 269 97 172 Total 93,652 95,668 (2,016) Maintenance of
Slide 50: Appendix 4 - Forestry outlook
Appendix 4 - Forestry outlook • Some optimism that market has bottomed out. Expectation log prices will improve for second half of 2025. • 74% of Tauranga export volume from forest estate owners who manage a sustainable cut to generate fixed income, as such, less price sensitive. • NZ now has greate
Slide 51: Appendix 5 - Dairy outlook
Appendix 5- Dairy outlook • Modest dairy volume growth 1 - 2%. • Export volume mix ( butter/cheese) is expected to remain similar in FY26. • Demand expected to strengthen in the medium term, supporting firm global prices with sector revenue to increase further. • Trade policies (tariffs) bring chall
Slide 52: Appendix - Kiwifruit outlook
Appendix 6 - Kiwifruit outlook • The 2025 crop is a gross crop of ~213 million tray equivalents, another record season. Kiwifruit export annual volume growth by variety • Mid season, 105 million trays sold, 250 compared to 94 million at the same time last year. 200 Tray equivalent (TE) • Strong glob
Slide 53: Appendix 7 - Meat outlook
Appendix 7 - Meat outlook • Export revenue expected to rise primary due to robust demand from North America, despite geopolitical tension and tariff risk. • American and Canadian cattle herd at lowest levels in decades, domestic shortages. • NZ meat export volume projected to be flat over the next t