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Posted by Dale Crisp
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31 Aug, 2026
PORT of Tauranga has claimed a record underlying profit for the year ended 30 June 2026 following what it says was a range of successful yield, cost and productivity initiatives.
Underlying group net Profit after tax increased 23% to a record NZ$155.3 million while reported Group NPAT was $156.1 million, down 10.0% on the prior year's $173.4 million, which had included a $49.2 million one-off gain from the sale of Northport shares.
Revenue of $486.5 million was up 4.7%; EBITDA of $275.7 million was up 17.6% and operating costs of $221.7 million were down 6.2%.
Total trade decreased 3.0% to 24.6 million tonnes, driven by lower log and coal volumes, while container volumes were steady, increasing 0.4% to 1,213,494 TEU. Imports of 8.7 million tonnes were down 2.3% and exports of 15.9 million tonnes were also down, by 3.3%.
Port of Tauranga chair, Julia Hoare, said the record underlying result reflected the resilience of the business and its people, with the successful implementation of yield and cost initiatives along with productivity gains.
“This is a strong result, achieved against a backdrop of difficult economic conditions, lower trade volumes and ongoing berth capacity constraints,” Ms Hoare said.
“Reported profit includes the one-off positive impact from repositioning two properties for sale. The prior year reported profit included a $49.2 million one-off gain from the creation of the Northport Group, which has performed ahead of initial expectations and welcomed new chief executive, Rhys Jones, on 1 July,” she said. “The strengthening of the business has allowed Directors to declare a 22.8% increase in dividends for the full year.”
Ms Hoare said the fast-track panel's draft decision on the Stella Passage development, released on 17 August, was welcome news after years of regulatory delay. The development will convert existing cargo storage land into berths on both sides of the harbour.
“This is critical, national infrastructure that will pave the way for the next stage of growth at the port, and for all of its cargo customers,” she said. A final decision is expected in early September.
Port of Tauranga chief executive, Leonard Sampson, said productivity gains were a highlight of the year. “We're seeing good improvements in service delivery to our customers, with our average crane productivity increasing 9.9% to 30.8 moves per hour, and ship rates increasing 13.6% to 76.5 moves per hour.
“These improvements were supported by on-time vessel arrivals climbing from 62% to 71% over the previous year,” he said.
Export containers were up 2.4% to 512,765 TEU, with imports up 2.5% to 411,340 TEU. Transhipment container volumes were down 5.5% for the year, reflecting changes to shipping services and berth capacity constraints in Tauranga.
Log export volumes fell 8.1% to 5.8 million tonnes, as higher fuel costs caused by the Iran conflict prompted some exporters to cut back harvesting in the second half of the financial year. Direct dairy exports increased 3.9% to 2.0 million tonnes, while kiwifruit exports rose 8.5% to a record volume, with growth forecast to continue. Dairy and kiwifruit volumes contributed to a record volume of refrigerated export containers.
Oil product imports fell 2.4%, while fertiliser and stock feed imports increased 1.2% and 0.6% respectively. Genesis Energy's imported coal volumes fell 64.8% as Huntly Power Station's stockpiles stabilised and South Island hydro generation covered winter demand. Ship visits increased by three to 1,445, while cruise ship visits fell 16.0% to 79, in line with a national trend.
“Port of Tauranga is continuing to invest in capacity for larger vessels, which are more efficient for our cargo customers and produce fewer emissions per cargo tonne. Stage two of our dredging program, to deepen shipping channels, is under way and due for completion by mid-2027,” Mr Sampson said.
