Napier Port Holdings Limited Analysis

Overview

Napier Port has been serving Hawke's Bay and surrounding regions for nearly 150 years. As the fourth largest port in New Zealand, by container volumes, Napier Port helps to build a thriving region by connecting customers and the community to global markets.

Napier Port offers a range of container, bulk cargo and cruise vessel services. In FY2018, the port managed the arrival and departure of over 680 ships, handled over five million tonnes of cargo and more than 100,000 cruise passengers.

Performance

The following information was extracted from Napier Port Holdings Limited's full year results, released 19 November 2024:

HIGHLIGHTS

• Revenue rises 15.9% to $141.4 million due to volume growth across all categories and yield improvements
• Result from operating activities1 increases 39.5% to $52 million demonstrating cost focus and operating leverage
• Underlying net profit after tax2 of $20.7 million, up 94.6% from $10.7 million in the prior year
• Reported net profit after tax of $24.8 million, up 49.7% on the prior year’s $16.6 million
• Post-Cyclone Gabrielle business interruption insurance claim contributes further $9.25 million to earnings
• Directors declare a fully imputed final dividend 6 cents per share, taking total dividends for the 2024 financial year to 9 cents per share, up from 5.25 cents for the prior year, and representing a gross dividend yield of 5.5%3