Port Of Tauranga Limited · NZX:POT
Port Of Tauranga — H1 2026 Earnings Presentation
36 slides from Port Of Tauranga's earnings presentation, Feb 27, 2026
Slide 1: Presentation to Analysts
Presentation to Analysts Mid-year market update 27 February 2026
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
Highlights Julia Hoare, Chair 3
Slide 4: Highlights
Highlights For the six months ended 31 December 2025 4
Slide 5: Group Net Profit after tax - up 16.6%
Group Net Profit after tax - up 16.6% For the six months ended 31 December 2025 $70,214 Highlights $70,000 $62,725 $56,341 $60,198 • Record reported interim Group Net $60,000 Profit. $47,241 $50,000 • Result driven by strong revenue $40,000 uplift of 8.5%. $000S $30,000 • Strong contributions from P
Slide 6: Interim dividend increased 14.3%
Interim dividend increased 14.3% Stronger earnings underpins dividend growth Interim dividend 15 • 8.0 cents per share fully imputed. 8.8 9.7 • Record date: 6 March 2026. Cents per share 8.2 8.7 10 • Payment date: 20 March 2026. • POTL ordinary dividend payout 5 ratio 70-90% of full year underlying
Slide 7: Half year overview & trade commentary
Half year overview & trade commentary Leonard Sampson, CEO 7
Slide 8: Blueprint for strategic growth
Blueprint for strategic growth First half highlights • Stage 2 Capital dredging commenced Port of Tauranga. • Fast Track Amendments Act enacted, correcting Government project description omission. • Ruakura Inland Port continues to grow volumes increased 22% • Northport “Vision for Growth” resource
Slide 9: Total trade increased 1.2%
Total trade increased 1.2% For the six months ended 31 December 2025 13.50 • Strong first quarter volumes, with kiwifruit and dairy exports. 13.00 13.05 • Slightly subdued in second quarter 12.72 with slower start to dairy season vs 12.50 12.59 PCP. 12.44 tonnes (millions) 12.00 • Export log demand
Slide 10: Bulk volumes increased 1.6%
Bulk volumes increased 1.6% For the six months ended 31 December 2025 6,000,000 • Log volumes 3.13 million tonnes vs 3.2 PCP. 5,000,000 • Fertiliser volume up 43% 4,000,000 - 286,000 tonnes. tonnes • Proteins and stock feed 3,000,000 up 7% 707,000 tonnes. 2,000,000 1,000,000 FY23 FY24 FY25 FY26 Coal
Slide 11: Total container volumes increased 2.6%
Total container volumes increased 2.6% For the six months ended 31 December 2025 700,000 637,729 600,000 622,272 607,114 591,934 536,930 500,000 400,000 TEU 300,000 200,000 100,000 FY22 FY23 FY24 FY25 FY26 • Record first quarter volume 319,000 TEU 11
Slide 12: Container trends
Container trends For the six months ended 31 December 2025 Export TEU decreased by 0.9% Import TEU increased by 1.4% Transhipment TEU increased by 260,000 250,000 180,000 10.2% 255,000 160,000 222,968 160,100 159,478 254,661 200,000 140,000 250,000 251,678 198,317 144,771 195,485 249,319 183,115 120
Slide 13: MetroPort containers increased 3.8%
MetroPort containers increased 3.8% For the six months ended 31 December 2025 • New MetroPort commercial model implemented 1 December 2025. Rail export/import containers 120,000 • POTL continues to manage end-to-end service delivery through to shipping lines 100,000 105,160 including booking, train
Slide 14: New Zealand port productivity
New Zealand port productivity • Select Committee inquiry into port sector highlights productivity a key area of focus. • Expect performance data and reporting to be a recommendation. • Direct corelation between on-time vessel arrival and port productivity. • Multiple initiatives implemented to suppo
Slide 15: Service delivery and productivity
Service delivery and productivity • On-time vessel arrival for the six months to December was 70% vs 62% PCP. • Pre-Covid on-time vessel arrival circa 83 - 85%. • New terminal emulation is improving performance. • Tauranga is the last call on majority of NZ shipping services – POTL is improving on-t
Slide 16: Resource consent - update February 2026
Resource consent - update February 2026 • New Fast-track Amendments Act enacted December 2025 - Mount Maunganui Wharves omission rectified. • Priority project determination received by Minister for Infrastructure – December 2025. • New Fast-track application lodged January 2026. • EPA completeness d
Slide 17: Terminal automation project
Terminal automation project Automated Stacking Cranes (ASCs) Progress update • Emulation software implemented ahead of ASC introduction already providing benefits to terminal productivity. • Deployment of ASCs linked to timing of berth extension. • Staged bolt-on introduction of ASCs relative to vol
Slide 18: Northport Group
Current Northport Group • Northport Group established July 2025 bringing together MMH land holdings and Northport. • Northport’s Vision for Growth resource consent granted October 2025. • Government commitment to roading infrastructure investments improving connectivity to Northport. Future – now co
Slide 19: Financial Results
Financial Results Simon Kebbell, CFO 19
Slide 20: Group reported profit up 16.6%
Group reported profit up 16.6% Strong revenue growth of 8.5% and profit growth of 16.6% • Strong operating revenue growth delivered across 31 December ($000s) 2025 2024 Variance all operating units. Operating revenue 244,128 224,998 19,130 • Operating costs increased by $7.9m (6.9%), driven Operatin
Slide 21: Results from operating activities up 10.2%
Results from operating activities up 10.2% Increase reflects pricing initiatives and operating efficiencies • Operating revenue up $19.1m driven by Parent tariff Increase Decrease Total increases, higher infrastructure charges, a Mount 140,000 Maunganui access charge, and strong growth in 130,000 1,
Slide 22: Parent profit up 15.7%
Parent profit up 15.7% Strong performance at the parent level and group companies $63,959 • Parent company profit increased 15.7% $60,000 $55,342 $55,285 compared with the prior corresponding $49,000 period. $50,000 $42,380 • Subsidiaries and Equity Accounted $40,000 Investees delivered a 27.3% prof
Slide 23: Subsidiary and joint venture companies
Subsidiary and joint venture companies Strong performance from Group companies with profits up 27.3% FY25 FY24 Movement • The reduction in Northport $000 $000 $000 Group profit reflects revised Quality Marshalling 1,648 1,517 131 capital structure and interest Timaru Container Terminal (88) (229) 14
Slide 24: Cashflow from operations up 5.8%
Cashflow from operations up 5.8% Strong cash generation from operating activities • Net operating cash inflow increased 31 December ($000) 2025 2024 Variance by $4.2 million (5.8%), reflecting stronger profitability but partially Net cash inflow from operating activities 77,792 73,555 4,237 offset b
Slide 25: Parent Capital expenditure investment 2021 - 2026
Parent Capital expenditure investment 2021 - 2026 $140,000 • FY26 Parent capital expenditure $120,000 forecast reduced to approximately $70 million for the year, reflecting $100,000 the later timing of planned spend. $80,000 10,106 • Major projects underway include: $000S 21,450 $60,000 o Capital dr
Slide 26: Net debt / net debt + equity
Net debt / net debt + equity For the six months ended 31 December 2025 24.5% • Leverage remains low, providing 25% balance sheet headroom to progress berth extension and automation 20% project. 18.0% 18.1% 17.1% 17.1% 15% 10% 5% 0% FY22 FY23 FY24 FY25 FY26 26
Slide 27: Outlook and guidance
Outlook and guidance can Port of 27 Tauranga
Slide 28: Outlook 2026
Outlook 2026 • Strong export peak season expected with key commodities dairy, red meat and kiwifruit. • Productivity initiatives, cost control and yield improvement remain a priority. • New MetroPort model - well positioned for future growth with aligned incentives. • Terminal berth capacity constra
Slide 29: Questions
Questions can Port of 29 Tauranga
Slide 30: Financial details and trade forecasts
Financial details and trade forecasts 30
Slide 31: Results from operating activities
Results from operating activities For the six months ended 31 December 2025 2025 2024 Movement Operating Revenue $000 $000 Container terminal - ship exchange and sundry 105,411 92,571 12,840 Container terminal - reefer 13,190 13,047 143 Container terminal - storage 5,731 7,219 (1,488) Container term
Slide 32: Operating costs
Operating costs For the six months ended 31 December 2025 2025 2024 Movement Contracted services for port operations $000 $000 Container Terminal Labour 21,742 20,011 1,731 Rail costs 22,441 25,151 (2,710) Reefer Monitoring 419 477 (58) Other 182 171 11 Total 44,784 45,810 (1,026) Maintenance of pro
Slide 33: Log exports decreased 2.2%
Log exports decreased 2.2% For the six months ended 31 December 2025 • Despite China volume slow down, NZ has strengthened market share to ~75% of import 3,700,000 market. 3,600,000 • Chinese construction outlook continues to be 3,581,007 3,500,000 impacted by depressed property sector. 3,400,000 •
Slide 34: Export kiwifruit volume increased 11%
Export kiwifruit volume increased 11% For the six months ended 31 December 2025 • Containerised volume increased 12% to 22,913 TEU 1,000,000 compared to the previous corresponding period. 900,000 • Record half-year volume, up 89,000 m3 year-on-year. 899,426 • Kiwifruit exports were valued at $4.5 bi
Slide 35: Export dairy volume decreased 3.4%
Export dairy volume decreased 3.4% For the six months ended 31 December 2025 1,200,000 • Half-year export volumes tracked softer 141,880 through August to December in line with 1,000,000 80,920 demand and softer market pricing. 45,327 63,138 • Strong peak season in March – June 2026 800,000 expected
Slide 36: Export meat volumes stable 0.1%
Export meat volumes stable 0.1% For the six months ended 31 December 2025 400,000 • Transhipment increased by 9%. 350,000 • Constrained global supply of beef and lamb is sustaining high export prices. 300,000 • 2025 NZ beef exports fell 7% compared to 159,830 116,141 175,530 2024. 250,000 72,559 • E