Thursday 20th Sep, 2018

Auckland announces annual results

Photo: Ports of Auckland
Photo: Ports of Auckland

AN AFTER tax profit of $NZ60.3m was a highlight from the Ports of Auckland 2016-17 financial year results.

This was down on an after tax figure of $84m from 2015-16 albeit that included a $17.6m gain for an “asset impairment reversal”.

Other highlights included:

  • Declared dividend of $51.3m, compared to $54.3 million for the previous year.
  • Revenue lifted from $211.1m to $222.4m, up $11.3m, reflecting increases in volume.
  • Container volumes up 5% to 952,331 TEU.
  • Car and light commercial vehicle volumes were up 19.9% to 297,383 units.
  • Breakbulk and bulk volumes (including cars & LCVs) were up 11.4% to 6.46 million tonnes.

Chief executive Tony Gibson said he was pleased to deliver “another solid result”.

“Volumes are up across the board, as is revenue. Our trading profit and dividend are down slightly, reflecting the investments we are making to prepare for the future,” Mr Gibson said.

“This year work started on our Waikato freight hub, we finished our third container berth and our automation project is well underway.”

He said they had made significant economic and social contributions to Auckland and New Zealand, being voted voted Best Seaport in Oceania by our customers and industry peers for the second year running.

“The year has not been without challenges. Auckland’s construction boom and growth has driven significant increases in freight volumes, notably vehicles and building materials,” Mr Gibson said.

“Cement volumes are up almost 50% in two years and cars are up almost 20% in just one year. As a consequence we are experiencing capacity constraints on our general wharves, with some ships having to wait at anchor or at berth to unload.”

Mr Gibson said container volumes also showed healthy growth, both at the terminal and for the Pacific Island trade at the general wharves.

“We are investing in our people and infrastructure to ensure we can continue to meet the growing needs of Auckland and the Upper North Island while respecting Aucklanders’ desire to protect the Waitematā harbour,” he said.

Mr Gibson said the container terminal automation project was well underway and on track for completion in 2019.

“Innovation and automation will increase our container terminal capacity from 900,000 TEUs a year

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