Port of Auckland has today released its financial results with a strong recovery in financial performance and almost doubling the dividend it will pay Auckland Council for the year.
The Directors have declared a final dividend for the year of $15.0m or 10.3 cents per share, bringing declared dividends to $30.0m for the year - an increase of $15.8m on the prior year and $13.0m more than originally committed to Council.
- Net Profit after Tax (NPAT) of $40.5m, an increase of $50.7m on last year
- Underlying NPAT $45.2m in FY23, an increase of $20.2m on last year
- Revenue increased to $320.2m, up from $265.3m in FY22
- Reduced net debt levels from $449.9m in FY22 to $407.5m in FY23
- Established dynamic rostering and introduced salaries for stevedores, providing greater certainty and flexibility
- Over 170,000 cruise passengers arrived in Auckland, as the industry returned post Covid-19
- Won the New Zealand Workplace Health and Safety Award for collaboration with the Maritime Union of New Zealand (MUNZ) and third-party stevedores C3 Limited and Wallace Investments Limited for New Zealand's first Stevedoring Code of Practice
- Settled ongoing dispute regarding dredging and disposal consents in the Hauraki Gulf, which will enable Port of Auckland to welcome larger ships in the future
- Commenced investing $1.5 million into harbour health initiatives over the next 15 years via Te Moananui o Toi Restoration Trust
- Starting our reforestation project on our 38-hectare property on Āwhitu Peninsula, in the Manukau Harbour.
Chair of Port of Auckland, Jan Dawson, said the FY23 results reflect the execution of the strategy, and the hard work and determination of the executive team and the people who call Port of Auckland their place of work:
"The Board is pleased to return an improved dividend to the shareholder, Auckland Council, for the year. We anticipate continued improvement over the next three years as we work towards providing a dividend equal to a million dollars a week in FY26," she said.
After the first of its three-year Regaining our Mana strategy, CEO Roger Gray described the year as transformative for the port.
"Regaining our Mana is designed to safely lift performance, deliver returns to our owner Auckland Council, and to rebuild the trust of our people and Aucklanders.
"There have been substantial efforts and successes in our three focus areas which are reflected in our strong financial results, the transformation of our employee relations, and the safety and wellbeing of our people," says Gray.
During the financial year, the resilience of the port was demonstrated by the fact it only closed for three days across both the Auckland Floods and Cyclone Gabrielle. This was only due to high winds and as soon as the winds dropped the port was back servicing Aucklander's freight needs.
"We are pleased with the resilience of Auckland's port and see it as an asset serving the whole North Island.
"Our revised strategy sees us thinking more widely in regard to environmental, social, and governance matters.
"For us, sustainability is broader than just emissions and environmental impact. It's about the communities we exist in. It's about providing meaningful, high-paying jobs and it's about building sustainable relationships within the diverse communities we serve and within our workforce.
"As we reflect on the port's turnaround and successful results, I want to thank the team of 774 who have worked exceptionally hard for our customers, for Aucklanders and for each other during the last year," says Gray.
Port of Auckland's 2023 Annual Report is available here.
 Underlying NPAT excludes items such as
revaluations and impairments.
Notes to editors
We're the Port of Auckland.
As part of the Regaining our Mana strategy, we felt our identity was no longer accurately representing the port or our vision for the future. We're beginning a journey to update our look and feel with a clean, contemporary design framework that includes more elements of Te Ao Māori and acknowledges Port of Auckland's past, present and future.
We've removed the 's' on Ports to reflect the 2018 sale of Onehunga seaport to Auckland – we are now a singular seaport operation on the Waitematā.
The incorporation of more te reo Māori and Māori design aligns with our Taura Herenga Waka (Māori Outcomes Framework) and reflects employee feedback. We are grateful to everyone who has played an integral role in helping us shape our inspiring new look, from our port rūnanga, through to the Executive Team and beyond.
Through our inclusive approach, we believe our brand represents the collective outlook of our people and is consequently, a true representation of who we are and where we're heading. We are proud to represent New Zealand and facilitate the sustainable growth of trade across the upper North Island, and especially proud to be Auckland's port.
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