RECORD growth in container throughput has boosted CentrePort Wellington’s FY 26, with results significantly ahead of expectations.
CentrePort has recorded an Underlying NPAT of NZ$20.9 million, up 19% on the last financial year and $2.3m above targets set out in the Statement of Corporate Intent.
The port company says the result reflects continued growth across the port's core operations, particularly in container trade, reinforcing CentrePort's strategic role in New Zealand's supply chain and delivering another year of strong performance for shareholders.
Underlying NPAT increased by $3.3 million from FY25, continuing a sustained and resilient growth trajectory that has seen earnings increase at a compound annual growth rate of 27% since FY22.
EBITDA (as a percentage of net revenue) improved to 35%, compared with 31% in the prior year, reflecting improved port operating margins that more than offset higher depreciation, lower investment income and reduced subsidiary and joint venture returns.
CentrePort says container volumes increased by 69% to 145,555 TEU following the introduction of new shipping services, including the MSC Eagle from February 2026.
Chief executive Anthony Delaney said CentrePort's strengthening position was creating significant value for customers and the wider economy.
“The arrival of new MSC services, alongside the addition of COSCO/OOCL’s weekly ANE service, and our existing Asian services, underscores the confidence global shipping lines have in our capability and operations," he said.
Mr Delaney said operating as a container hub, combined with steady volumes in logs, fuels and other cargo, reinforced Wellington's increasingly important role in New Zealand's freight and supply chain network.
Log exports reached 1.89 million JAS, increasing 2% on FY25. Petroleum imports rose 5% compared with the previous year despite ongoing disruption in global fuel markets.
For cruise, numbers in isolation don’t tell the whole story, Mr Delaney said. CentrePort had 71 cruise ship visits (slightly below the previous season), 108,000 passengers and an additional 30% of ship crew visited the capital. Nationally, fewer ships are scheduled to visit Wellington and NZ this season.
“We saw this coming and have done a considerable amount of work with the NZ Cruise Association, other ports in New Zealand and with WellingtonNZ regionally, to engage with cruise lines and rebuild bookings," Mr Delaney said.
"This is already paying off with a considerable number of additional bookings coming in for the 2027/28 and 2028/29 seasons.”