New Zealand's Port of Tauranga FY underlying profit rises on productivity gains, cost controls

Port of Tauranga

27/08/2026 21:42

Overview
New Zealand port operator's full-yr revenue rose 4.7% yr/yr as productivity improved
Underlying net profit grew 23% yr/yr, while reported net profit fell due to prior one-off gain

Outlook
Port of Tauranga expects FY2027 underlying earnings of $160 mln to $175 mln
Company says capacity constraints will persist until Stella Passage development is completed
Ongoing Middle East conflict expected to continue affecting fuel prices in near term

Result Drivers
PRODUCTIVITY GAINS - Co said improved crane and ship productivity supported results, with average crane productivity up 9.9% and ship rates up 13.6%
COST INITIATIVES - Co attributed improved underlying profit to successful cost and yield initiatives
LOWER LOG EXPORTS - Log export volumes fell 8.1% as higher fuel costs prompted some exporters to cut back harvesting

Company press release: ID:nNZS85fa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
NZ$486.50 mln
 
FY Net Income
 
NZ$156.10 mln
 
FY EBITDA
 
NZ$275.70 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the marine port services peer group is "buy."
Wall Street's median 12-month price target for Port of Tauranga Ltd is NZ$7.80, about 3.9% below its August 27 closing price of NZ$8.12
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 33 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)