Mainfreight Limited/Announcement
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Mainfreight Annual Report for year ended 31 March 2019

Annual Report25 June 2019MFTIndustrials

Annual Report 2019

We have never been more passionate, motivated or
excited about our journey, and the word that sums

that up, is INTENSITY.

The intensity of our people

Whether they’re in Masterton, Milan or Melbourne, we see

intensity in the way our people work. They’re making quick

decisions close to our customers. They share our purpose

and have the drive to keep us moving forward.

The intensity of our network

Every expansion into a new place, big and small, adds another link

to our network, exponentially increasing the connectivity, sparking

new opportunities and accelerating growth.

The intensity of momentum

On this 100-year journey, the determination of our people, the

strength of our culture and the pace that we are delivering on our

goals, is exhilarating.

Our intensity has

never been greater

It’s a hell of a ride!

SAI SALELESI – Epping, Australia

NOTICE OF MEETING Notice is given that the annual meeting of shareholders of Mainf reight Limited will be held
at 4.00pm on Tuesday 30 July 2019 at the Barrel Hall, Villa Maria Estate, 118 Montgomerie Road, Mangere, Auckland.

Full details, including the Meeting Agenda, are contained in the separate Notice of Meeting and Explanatory Notes

accompanying this report, and are also available on the Company’s website, www.mainf reight.com or by scanning

the QR code to the left.

Contents
6

PERFORMANCE

Key Achievements

8

Chairman’s Report

10

Group Managing

Director’s Report

22

Targets, Performance

& Achievements

24

10-Year Snapshot

of Growth

26

OUR BUSINESS

Our Global Network

28

Q + A with Don Braid

30

Operating Statistics

32

Network Intensification

34

Technology

36

100 Years From Now

38

Capital Expenditure

40

PEOPLE AND

COMMUNITIES

Our People

56

Environment

58

Mainfreight in the

Community

60

GOVERNANCE

AND LEADERSHIP

Corporate Governance

Statement

64

Our Leadership Team

70

Directors’ Report

72

Our Board of Directors

77

FINANCIAL

Income Statement

78

Balance Sheet

79

Statement Of

Changes In Equity

80

Cash Flow

Statement

81

Notes To Financial

Statements

107

Auditor’s Report

111

Statutory Information

114

Interests Register

115

Five Year Review

116

Glossary

117

Directory

$141.1m
8079

Team Members

$2 57.1m

260

24

Countries

Branches

506

$2.95b

2

13

Top 500 customers

using multiple divisions*

6.527.2

Discretionary Bonus Paid

to Team Members ($m)

Group Operating Revenue

PERFORMANCE Key Achievements: 2019

6

FINANCIALBUSINESS AND PEOPLE

12.9%

26.0%

Group Net Profit Before Abnormals

Total Assets

$1.50b

19.5%

Group EBITDA

50

40

30

20

10

0

201820192018201920182019

3 Divisions

2 Divisions

1 Division

31%

42%

27%

40%

28%

32%

* Transport / Warehousing / Air & Ocean

7
200

150

100

50

0

1500

1200

900

600

300

0

RETURNS AND RATIOS

56cps

Total Dividend

140cps

Adjusted Earnings Per Share

LAST 10 YEARS

27.9%

Average Annual Return

on Investment

13.5%

Gearing Ratio

FINANCIAL SEGMENTS

Revenue by Division NZ$m

Transport

20182019

Warehousing

20182019

Air & Ocean

20182019

EBITDA by Division NZ$m

Transport

20182019

Warehousing

20182019

Air & Ocean

20182019

Net Profit

NZ vs Offshore

20192018

NZ

43.4%

NZ

47.6%

Offshore

52.4%

Offshore

56.6%

8
PERFORMANCE Chairman’s Report

Our push to globalisation began in

1989 in Sydney, followed by Melbourne

in 1990 and Brisbane in 1991. Since

that time we have grown into a global

business, operating in 24 countries,

with 260 branches and a combined

team of 8,079 people.

Some important numbers that are

worthy of comment:

>Our global sales were just under

$3 billion. Looking back, we first

achieved $1 billion sales in 2009,

six years later in 2015 we achieved

$2 billion, and now four years later

in 2019, we have all but achieved

$3 billion. That represents weekly

global sales of $56.8 million

($50.3 million in 2018).

>Our income tax payable for the year

is $54.5 million ($45.4 million in

2018).

>Another interesting number is the

increase in EBITDA for the year,

of $42 million. Of this increase,

$30 million was generated by

our offshore businesses, and

only $12 million from within

New Zealand. It is easy to see that

our strategy of global growth will

progressively bring rewards as we

mature, and gain more acceptance

in those countries beyond

New Zealand.

One of the modern problems of the

Western World is the perceived increase

in inequality and low wages growth,

leading to a belief that the capitalist

system is failing.

Could one of the solutions to these

perceptions be in the hands of the

business community?

It is a basic premise of capitalism to

have the lowest possible input costs, but

there is no particular premise that the

enterprise, if successful with its strategy,

must hold on to all the profits. This

may be a flaw in the interpretation of

the capitalist model that is contributing

to inequality.

Could it be that a sharing of a

percentage of the profits, amongst the

people who helped create them, should

be an essential part of capitalism?

Mainfreight believes that a significant

factor in its financial success has come

about through a profit sharing formula

with the people who have helped

create that success. Our discretionary

annual bonus, payable to qualifying

team members in all branches, is

$27.2 million ($20.7 million in 2018).

This year our favourite charity, “Duffy

Books in Homes”, will celebrate 25

years of giving books to children

in lower decile schools, and early

education centres. This year will see

Duffy Books in New Zealand give the

13-millionth book to a lucky child.

Duffy Books in Homes works out of

Mainfreight premises in New Zealand,

Australia and the USA. We are always

seeking new sponsors and if you,

like me, believe that education is the

solution to most of our ills, please

contact them (details are provided

on page 58).

To our Mainfreight teams around

the world in 24 countries and 260

branches, thank you for our success

and your superior performance. Know

that the job you do and the life you lead

is important. Care for each other, and

enjoy the journey.

Kia Kaha

Aroha Nui

Bruce Plested JUNE 2019

Mainfreight has been a stalwart of our investment portfolios for years,

and we don’t see that changing any time soon. The company has an

excellent track record of consistent earnings and dividend growth,

while there is no shortage of future potential. Mainfreight has proven

to be an innovative, strategically astute, well-managed company with

a very strong culture.

From Craig’s Investment Partners – News & Views – April 2019.

9

10
PERFORMANCE Group Managing Director’s Report

DON BRAID GROUP MANAGING DIRECTOR

The benefit of our network

development strategies is

reflected in our results.

For 41 years we have been building a long-term, sustainable

supply-chain business built on a simple premise: provide

high levels of service that exude quality with a passionate,

motivated team of people, who have the ability to take

responsibility for their own efforts in meeting our customers’

expectations.

In taking this approach it became apparent that to deliver

these services, we could only do so if our team was connected

end-to-end. We could not rely on agents or others to replicate

our own passion and quality across the supply chain. We

realised that we must control and expand our network; an

intensive network, within cities, within countries and of

course, between countries.

The benefit of this network development across our three

core products – domestic transportation (Transport),

managed logistics (Warehousing), and international air and

ocean carriage (Air & Ocean and CaroTrans) – is reflected in

our ever-improving results.

The results of the past year are no exception and are our best

ever. Revenue growth of 12.9% to $2.954 billion; EBITDA

of $257.05 million and a net surplus (before abnormals) of

$141.09 million. Abnormal costs after tax are $3.46 million,

and consist of European brand name write-down of

$2.93 million, with the balance attributed to restructuring in

Europe and the Americas.

A satisfactory result – and reflective of those core network

and quality strategies, implemented by a wonderful team of

very motivated people.

Network intensification is more prominent in our Transport

business units, particularly so in New Zealand, followed by

Australia, the Americas and then our European operations.

In Asia, we remain focused on international air and sea

freight operations, with a small amount of outsourced

warehousing.

2018

112,004

12.9%

Revenue

MAINFREIGHT GROUP

OPERATING RESULTS NZ$000

2019

2,954,087

2018

2,616,700

2019

141,084

GROUP NET PROFIT

BEFORE ABNORMALS

GROUP

REVENUE

11

PERFORMANCE Group Managing Director’s Report, CONTINUED
Each of our regions is

charged with managing local

opportunities and challenges

12

This process of building intensity in our network of Transport

operations has seen our influence increase across every region

in New Zealand. We now have a branch network second to

none, and it extends from urban centres into regional areas

with populations less than 25,000.

As a result, delivery times and quality have improved, and

we have been able to establish better, more responsive,

relationships with our customers’ customer. “Last mile”

delivery relationships are crucial to maintaining and

increasing our market share in a competitive and changing

marketplace.

The benefits of this strategy are seen in the overall

New Zealand results, where revenue increased 7.9%

to $718.79 million and EBITDA is up 12.2% to

$110.56 million.

Our Australian Transport operations have similarly benefited

from an increase in network coverage, as we open more

urban and regional branches, securing a greater share of the

market and delivering improved quality freight services. It

is apparent that, in order to service the larger metropolitan

cities like Sydney, Melbourne and Brisbane, multiple

Transport operations are required to combat congestion,

reduce total kilometres travelled, and deliver on time.

Our Australian business improved revenue

by 13.9% to AU$710.17 million and EBITDA

to AU$55.37 million, up 11.0%.

In the Americas, our Transport operations are focusing on

a defined day delivery strategy for LCL freight. Currently,

the network is largely confined to the main cities, where

we pick up, handle, line-haul and deliver our customers’

consignments on blue trucks, rather than outsourcing to

outside operators. Such is the size of the opportunity in this

region, the growth of our network will remain urban-focused

until we have acceptable utilisation and sufficient freight

sales in these core city centres to support expansion into

the regions. As in New Zealand and Australia, the larger

metropolitan areas will likely require multiple hubs to

eliminate inefficiency.

In the Americas, we have improved overall

profitability, with EBITDA up 37.2% to

US$26.11 million and revenues improving 13.5% to

US$493.86 million.

Our European Transport network has a strength in Western

Europe, and is supplemented with agency relationships in

nations where we are yet to establish a domestic transport

presence. As we further increase sales growth and find

ongoing profitability, it is our intention to strengthen and

develop our footprint within countries, the Netherlands as

an example, and move into new countries like Spain, Italy

and Germany. To do so will take time and effort and will be

dependent on sales growth and customer support.

Our European operations saw revenues improve

12.0% to €376.28 million and EBITDA up by 30.9%

to €23.26 million.

With the international freight focus in Asia, we are some

way off establishing dedicated domestic transport operations

and rely on known local providers to meet customer

requirements.

In Asia, we have improved overall profitability,

with EBITDA up 28.2% to US$6.31 million however

revenues were down 11.2% to US$74.45

million. Revenue declined as a result of exiting

non-profitable wholesale air freight relationships,

and the completion of a number of project

customers.

13
Transport, Warehousing and Air & Ocean

Group NZ$000

EBITDAREVENUE

2018

2,616.7

2019

2,954.0

215.1257.0

20192018

12.9%

10.8% excl FX impact

Revenue

19.5%

18.0% excl FX impact

EBITDA

Transport, Warehousing and Air & Ocean

New Zealand NZ$000

EBITDAREVENUE

2018

666.0

2019

110.6

2018

98.5

2019

718.8

7. 9%Revenue

12.2%EBITDA

Transport, Warehousing and Air & Ocean

Europe EU€000

EBITDAREVENUE

2019

23.3

17.8

2018

2019

376.3

336.1

2018

30.9%EBITDA

12.0%Revenue

Transport, Warehousing and Air & Ocean

Australia AU$000

49.9

2019

55.4

2018

623.3

20182019

710.2

EBITDAREVENUE

11.0%EBITDA

13.9%Revenue

Air & Ocean

Asia US$000

EBITDAREVENUE

74 .45

83.86

20182019

28.2%EBITDA

2019

6.31

4.92

2018

11.2%Revenue

Transport, Warehousing and Air & Ocean

Americas US$000

EBITDAREVENUE

37.2%EBITDA

2019

26.1

19.0

2018

2019

493.9

435.3

2018

13.5%Revenue

Working closely in conjunction with our domestic Transport
division, we have third-party Warehousing (managed

logistics). In total, across all regions, we have 679,225m

2


of owned and leased warehouse facilities, providing

approximately 683,370 pallet spaces.

Product is held on behalf of our customers, providing them

with a variable cost structure, underpinned by high quality

facilities, pick and pack activities, and managed via our own

warehouse management technology.

Utilisation and activity within these warehouses is crucial

to profitability and to our expansion. Just as we intensify

our Transport networks, so we do with our Warehousing.

Multiple sites per city and country as customers are attracted

to our offering.

As part of the supply-chain relationship with our customers,

it is an expectation that inbound and outbound freight

movements to and from the warehouses are completed

through our own transport network. This is already well

supported in New Zealand and Australia, and is being

targeted with a degree of success in the Americas and Europe.

It is our intention that as our competency in domestic

transport improves across these larger regions, we will offer

similar services to those customers occupying our facilities.

Rounding out our supply chain management is our Air &

Ocean international product. Here we are offering customers

our expertise in the management of air freight consolidation

services, and sea freight full container and less-than-container

transport services across the globe.

Paired with our export/import documentation activities, we

provide our customers with a global trading platform.

We continue to experience growth in this area, moving in

excess of 340,000 TEU container movements by ocean, and

more than 127 million kg of air freight over the past year.

PERFORMANCE Group Managing Director’s Report, CONTINUED

14

Our Transport, Warehousing

and Air & Ocean operations

provide our customers with

a global trading platform.

DEE RIDGEWAY – Dallas, USA
15

Whilst our customer network requires services to and from
most trading nations, we have concentrated our efforts

within the Mainfreight to Mainfreight country network.

Again, letting us control quality, utilising our own people

and infrastructure, and offering visibility through our

technology across the end-to-end movement of freight.

By adopting the same collaborative approach that we have

with our customers, to the ocean carriers and airlines,

we have been able to achieve improved service levels and

competitive positioning when compared to industry players

of much greater scale. Partnerships have been entered

into with two of the world’s largest shipping companies,

providing confidence in supply for the long term.

Throughout the year, there has been a strong focus on

increasing our LCL consolidation activities across the global

Air & Ocean business, improving margins and increasing

services. In addition to our retail sea freight business, our

wholesale sea freight division, CaroTrans, has improved both

its returns and processes, and has established a stronger

network in Asia, particularly China.

In four of our five geographic regions, we have improved

revenues (aside from Asia) and all five regions have

improved profitability in our Air & Ocean segment, which

we believe offers the greatest potential for future growth.

Due to the asset-light nature of the Air & Ocean product,

these operations can be quickly implemented and provide

the base to extend our broader presence in new countries.

During the past year we have opened Air & Ocean

operations in Malaysia and Japan, and extended our

German operations to a second location (Hamburg).

As we find growth in this segment and control more freight

in and outbound to a particular country or region, so it

allows us to establish another foothold. Regions that are

currently under consideration using this formula, are Korea,

Scandinavia and the Middle East.

The combination of our three core products, Domestic

Transportation, Warehousing (managed logistics) and

Air & Ocean freight forwarding, provides a full supply

chain solution for our customers. This is supported by our

technology which provides a portal for these customers

where the full range of services, freight movements,

stock holding and pick accuracy is available in real-time

with dashboard status; this “warts and all” transparency

encouraging a greater degree of accuracy across all activities.

PERFORMANCE Group Managing Director’s Report, CONTINUED

16

We have been able to achieve

improved service levels and

competitive positioning when

compared to industry players

of much greater scale.

STEFANO TAHI – Prestons, Australia
17

When combined with our global footprint, our offering
becomes multi-national.

Our top 500 customers currently account for 56% of our

total revenue; of these only 31% currently trade across all

three divisions, demonstrating the potential for further sales

growth within our current customer base.

Upskilling our people to have the ability to knowledgably

review the full scope of our products and global network

with our customers remains a priority for the business, and

will remove the silo impediment that can result from teams

separated by disciplines and/or geography.

Intensifying our network does not happen without significant

capital investment, particularly as we require high-quality

facilities that enable our team to provide the very best of

service to our customers, and where they feel comfortable and

well looked after, in an environment that is safe and efficient.

We have always recognised that it is the performance of our

people that is fundamental to our success. Our culture, or

“the way we do things around here”, is central to all that we

do and stand for.

Our current network consists of 124 Domestic Transport

facilities, 93 Air & Ocean branches and 43 Logistics

warehouses.

Our capital expenditure requirements to increase our

owned property infrastructure over the next two years will

approximate $350 million, providing additional Domestic

Transport branches, upgraded Air & Ocean operations

and Logistics warehouses. In addition, a number of leased

facilities will be engaged to provide short-term capacity.

Owned facilities are mostly located in New Zealand and

Australia where we better understand scale and geographical

locations. Leased facilities are utilised in areas requiring

short-term growth, and in those regions we are yet to

understand well enough or earn enough to invest capital.

This past year has been satisfying in terms of financial

performance when viewed relative to prior periods; a record

result. It is however, just one more step towards our long-

term strategic intent of improved returns across a global

business. We are very proud to have reached this point in our

journey, albeit knowing full well we have much more to do.

As a shareholder, customer, or one of our valued team

members, please enjoy the information provided in this

document, outlining our financial performance to date, and

our objectives for the future.

DON BRAID JUNE 2019

PERFORMANCE Group Managing Director’s Report, CONTINUED

18

We are very proud to have

reached this point in our

journey, albeit knowing full

well we have more to do.

CAITLIN GRICE – Los Angeles, USA
19

To connect every point of
the network and deliver

end-to-end service.

We are striving to be in more places,

with a meaningful reason for being there:

PERFORMANCE

20

AURELIAN ENE AND STEFANIA NEAGU – Ploiesti, Romania
21

2018 PAST YEAR
TargetStatus

Additional land purchased for network development in

New Zealand and Australia

Land identif ied and purchased/leased in Auckland,

Tauranga, Melbourne, Adelaide, Brisbane, Sydney

Americas has revenue of US$500 million earning a rate of return

of 7%

Current revenue at US$494 million, with ROR target likely

to take more time

Our American and European interests earn more prof it than our

Australian and New Zealand operations

Unlikely for some time, given the strength of the

Australasian businesses

Sales revenues exceed $3.0 billion

Revenues for the 2019 f inancial year are $2.95 billion.

With rounding, we perhaps could be rewarded with

a pat on the back!

European revenues exceed €500 millionThis year’s revenues at €376 million

Pre-eminent supply chain logistics business for Australasia,

with New Zealand and Australian exporters and importers

supporting us around the world

We would humbly suggest that we are well considered in this

arena, and we continue to intensify our network to provide

further supply chain eff iciencies

Our Australian domestic network has branches in every major

city and town, all operating prof itably

We now have 55 branches across the Australian continent,

with Tasmania and Northern Queensland under consideration

Begin to invest capital in the American market to build suitable

inf rastructure to support our growth and quality ambitions

Likely f rom 2022 onwards; f inancial and operational

performance need to improve before we invest capital

Have at least 50% of revenues in Asia developed in-country

Currently 31% (up f rom 24% prior year); not likely to be

achieved until 2020 onwards

Asia network well established and positioned in and around

ports and airports rather than off ices in central city locations

Our network continues to expand; now in 8 countries with

21 branches. Airf reight locations have been secured/occupied

for Guangzhou, Beijing, and Hong Kong

European Air & Ocean network extended to ItalyCompleted with Milan branch opened late 2017

2019 CURRENT YEAR

TargetStatus

Our Australian prof it exceeds that of New ZealandNot likely to be achieved until after 2021

Over 300 branch locations around the worldCurrently 260

500,000 TEUs moved by sea globallyCurrently 342,741 TEUs (up 10.0% f rom last year)

100 million kg of air f reight moved globallyCurrently 127.4 million kg (in line with last year)

USA prof itability improved and revenue growth back to

satisfactory levels

Revenue growth improving, albeit slowly, and EBITDA up 37.2%

in 2019

Increased number of Air & Ocean branches in Germany to at

least 6

Branch opened in Hamburg, and planned for Munich in

2020 f inancial year; it will take longer to establish additional

branches

Our global warehousing footprint to exceed 750,000m

2

Currently at 679,225m2 (up 10.6% f rom last year)

Land & Building projects underway in New Zealand, Australia,

Europe and the USA

Completion of most through 2020 & 2021. This remains on

track with property projects in all main centres underway, in

planning, or waiting for resource consent

22

PERFORMANCE Targets, Performance and Achievements

23
LONG RANGE 2021

TargetStatus

$4 billion of sales revenueWouldn’t this be nice!

Our global network further extended Intensif ication of our network remains a core strategy

Our information technology contributing prof itability via the

sale of our visibility software tools

Digitisation of our customer solutions continues to be

developed

Over 10,000 team members around the worldCurrently 8,079

Warehousing footprint exceeds 1,000,000m2Currently 679,225m2

Mainf reight 2Home is well established and prof itable

in Australia

Mainf reight Korea is openedCurrently under consideration

Mainf reight is established in Scandinavia, Spain and the

Middle East

Currently under consideration

Top 500 customers trading across all 3 divisions increases to

40%

Currently 31%

Top 500 customers trading across all 5 regions increases to 20%Currently 5%

2020

TargetStatus

Over 400 branches globallyA stretch – more likely to be 2022

Our network extends across 30 countries worldwideCurrently in 24 countries

South America and Middle East locations and network well

developed

We continue to be interested in developing our South

American, and now Middle East, presence

Our Asian business is making similar prof its to that of the

Americas

Unlikely, providing our Americas business meets our

expectations

Our supply chain solutions extend across all our networks,

including Asia

Asian focus is on Air & Ocean

Chemcouriers in Australia is well established and recognised

as the pre-eminent hazardous f reight provider to the nation

On track, in conjunction with our dangerous goods

warehousing capability

Establishment of a global perishable airf reight business

Underway with operations in New Zealand and Australia, and

under consideration in the USA

Strong emphasis on improving trade with our Top 500

customers to all 3 divisions and all 5 regions

Currently 31% of our top 500 customers trade across our

3 divisions, and 5% trade with us in all 5 regions

2023

Target

Warehousing footprint continues to increase

Domestic locations are increased in each country to provide more

eff icient delivery of domestic f reight

In excess of 50% of our customer base are utilising all three

cornerstone products – Domestic f reight, Air & Ocean, and Logistics

Air & Ocean commitments received f rom the majority of our

warehouse customers

2022

Target

Established in 50 countries including on the continents of

Af rica, South America and the Indian sub-continent

Our coverage extends to all countries in the European Union

Our customer-focused culture attracts many large multi-

nationals across their full supply chain requirements

Network intensity sees more facilities across Europe, Americas

and Australia

Asia has more than 40 branches

24
PERFORMANCE 10-Year Snapshot of Growth

BEFORE ABNORMALS ($000)

Group ProfitGroup Revenue

($000)

Group EBITDA

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0

($000)

10 11 12 13 14 15 16 17 1819

300,000

250,000

200,000

150,000

100,000

50,000

0

10 11 12 13 14 15 16 17 1819

These 10-year figures

are indicators of our

past performance and

the increasing intensity

of growth.

150,000

120,000

90,000

60,000

30,000

0

10 11 12 13 14 15 16 17 1819

25
CountriesBranches TotalTeam Members

25

20

15

10


5

0

300

250

200

150

10 11 12 13 14 15 16 17 1819

10,000

8,000

6,000

4,000


2,000

0

10 11 12 13 14 15 16 17 181910 11 12 13 14 15 16 17 1819

STEVEN VERISSIMO AND DRIES PINOY – Newark, USA

1,789 TEAM MEMBERS
AU$710.2m REVENUE

AU$55.4 m EBITDA

55

OUR BUSINESS Our Global Network

Each new branch we open, exponentially increases the number of points

we can ship between. This enhances our ability to attract and service

global customers, who trade across our geographical network.

Our Network Model

› Decentralised. Provide services where our

customers need them

› Offer fully integrated, end-to-end service

› Retain freight in our network

› Control quality, consistency and service

How We Add Value

› Flexibility to tailor business solutions

› Quick decisionmaking on the ground, close

to customer

› Real-time visibility to customer

› Use most efficicient combination of modes

› Pro-actively optimise customers’ supply chain

26

2648 TEAM MEMBERS

41

EU€376.3m REVENUE

EU€23.3 m EBITDA

Europe

BRANCHES

Australia

BRANCHES

27
New Zealand, Australia, USA, Canada,

Mexico, Chile, China, Hong Kong, Taiwan,

Singapore, Thailand, Vietnam, Malaysia,

Japan, Netherlands, Belgium, France,

Germany, Romania, Poland, Ukraine,

Russia, United Kingdom, Italy

Branches

260

Countries

24

TO BECOME OUR CUSTOMERS’ SINGLE

SUPPLY CHAIN PARTNER, GLOBALLY.

Our Ambition

384 TEAM MEMBERS

US$74.4m REVENUE

US$6.3m EBITDA

896 TEAM MEMBERS

65

US$493.9m REVENUE

US$26.1m EBITDA

The Americas

BRANCHES

21

Asia

BRANCHES

2,362 TEAM MEMBERS

78

NZ$718.8m REVENUE

NZ$110.6m EBITDA

New Zealand

BRANCHES

Q You’re competing
with major global

operators in markets

like Europe, Asia and

the Americas. What is it

that customers say, gives you the edge?

We are different; our people make decisions and

take responsibility. This style of doing business is

refreshing.

Q One of Mainfreight’s greatest

strengths is its Kiwi-centric culture.

How is this being spread across the

different regions?

It is not a Kiwi-centric culture, it is Mainfreight’s

culture; it just happened to have its origins in

NZ. Our culture remains a key component of our

success, and at every opportunity we are working

hard to ensure all our people live it every day.

Q As the business expands, how is

Mainfreight growing its next generation

of leaders, globally?

Succession is important; it will allow us to expand

into more branches and more countries. Promotion

from within, entrusting responsibility, allowing

decisions to be made as close to the customer as

possible, all assists our leadership development.

Q What is inhibiting the pace and

extent of Mainfreight’s growth?

The only inhibitor for us is ourselves. Have we

taken the opportunities that have been presented?

Do we have the energy and passion to take

advantage of the growth available?

Q What do you see as the biggest

disruptors in the logisitics industry in

the next two years? What opportunities

do they present?

Supply chains continually evolve, looking for greater

efficiency and points of difference. We have seen a

variety of disruptors over many years and expect to

see more. At all times we have embraced changes

that enhanced our service, and expect to continue

to do so. It is likely to be evolutionary, rather than

revolutionary.

Q What keeps you up at night?

Just how significant could Mainfreight become, and

the fun it will be, to be a part of the journey.

OUR BUSINESS Q + A with Group Managing Director, Don Braid

28

MICHAEL BEEKWILDER – Zaltbommel, Europe
29

30
OUR BUSINESS Operating Statistics

Transport Loading Errors

Information Technology

Transport Statistics

Air & Ocean Statistics

LOADING ERRORS PER

100 CONSIGNMENTS

2,447,916

2,346,179

Total Tonnes

20182019

210,085

211,796

Total Tonnes

20182019

Total Consignments

4,102,449

3,921,983

20182019

Total Cubic Metres

7,110,496

6,865,638

20182019

Delivery Performance

#

92.5%

86.3%

20182019

Total Consignments

1,699,516

1,658,530

20182019

Total Cubic Metres

1,142,128

1,096,989

Total Tonnes

20182019

4,068,088

3,919,161

20182019

Delivery Performance

#

90.2%

92.4%

20182019

Total Consignments

210,035

209,800

20182019

Delivery Performance

#

93.6%

93.0%

20182019

* Delivery performance impacted by

earthquake disruption in prior year

3,549,198

3,211,903

Total Tonnes

20182019

Total Consignments

1,957,676

1,913,873

20182019

Total Cubic Metres

10,501,080

8,519,438

20182019

Delivery Performance

#

93.7%

91.5%

20182019

#

The need to standardise our

Domestic f reight quality statistics is a

key priority for our USA and European

business units.

Transport Claims

CONSIGNMENTS FOR 1 CLAIM

Claims New Zealand

2015471 consignments

2016461 consignments

2017529 consignments

2018*498 consignments

2019528 consignments

The way our claims are measured was

changed in the 2016 year, to include all

small claims settled by direct credit.

* Figures for 2018 are inclusive of

signif icant inter-Island tonnages being

trans-shipped via our pop-up Spring

Creek operation due to earthquake.

Claims Australia

20169,414 consignments

20174,725 consignments

20182,952 consignments

20192,943 consignments

2016 was our f irst year of calculating

Claims statistics for Australia with the

introduction of our Quality Assurance

Programme (QAP). The reduction in

the measure in the following years

reflects a greater understanding of the

benef its of the QAP by our Australian

customers. We expect to see the

f igure trend down as it becomes more

widely accepted, before increasing

with ongoing quality improvement

initiatives.

Claims Americas

20171,000 consignments

2018408 consignments

2019404 consignments

2017 was our f irst year reporting for

USA; subsequent improvement in

measuring our claims KPI has provided

greater accuracy.

Claims Europe

20191,013 consignments

2019 is our f irst year of calculating

claims statistics in Europe.

This YearLast Year

Information

Technology

Spend

$56.99

million

$52.19

million

As a % of

Revenue

1.93%1.99%

Percentage of consignment notes

received electronically

This YearLast Year

New Zealand90.4%89.3%

Australia95.8%95.9%

Americas41.9%43.1%

Europe90.9%90.1%

Percentage of Logistics orders

received electronically

This YearLast Year

New Zealand99.1%98.7%

Australia99.0%99.4%

Americas99.9%99.8%

Europe98.6%99.3%

IATA Ranking

This YearLast Year

NZ

1st1st

AU

8th7th

US

29th29th

This YearLast Year

Airf reight Inbound

and Outbound (kilos)

127,417,585127,173,601

Seaf reight Inbound

and Outbound (TEU’s)

342,741311,586

Customs Clearances188,155199,916

New Zealand

Americas

Europe

Australia

New ZealandAustraliaEurope

20141.833.24-

20152.642.91-

20162.414.37-

20173.743.93-

20183.945.99-

20194.934.071,94

31
Warehousing StatisticsPeople

New Zealand (NZ$)

This YearLast Year

Inventory Record Accuracy (IRA)

98.0%98.0%

Facility Utilisation

90.0%85.0%

Warehousing Footprint

150,500m2145,000m2

Domestic Consignments Generated

403,846421,956

Value of Domestic Consignments Generated

$38.9 million$38.8 million

Percentage of Domestic Freight

8.5%9.2%

Australia (AU$)

This YearLast Year

Inventory Record Accuracy (IRA)

98.4%98.6%

Facility Utilisation

86.0%96.0%

Warehousing Footprint

146,700m

2

113,071m

2

Domestic Consignments Generated*

369,772314,340

Value of Domestic Consignments Generated

$62.3 million$46.4 million

Percentage of Domestic Freight

20.3%18.6%

Americas (US$)

This YearLast Year

Inventory Record Accuracy (IRA)

92.9%91.9%

Facility Utilisation

74 .0%72.0%

Warehousing Footprint

59,500m

2

59,500m2

Domestic Consignments Generated

8,2966,552

Value of Domestic Consignments Generated

$3,567,404$2,338,477

Percentage of Domestic Freight

2.1%1.5%

Europe (EU€)

This YearLast Year

Inventory Record Accuracy (IRA)

99.96%99.94%

Facility Utilisation

95.1%97.0%

Warehousing Footprint

322,525 m2296,466 m2

Domestic Consignments Generated

1,137,468918,954

Value of Domestic Consignments Generated

€42.1 million€ 33.1 million

Percentage of Domestic Freight

20.4%17.8%

Outbound Accuracy

99.88%99.93%

Mainf reight’s level of IRA measures location count, inventory condition, systems

alignment to inventory count, product integrity, total inventory count.

TRAINING AND HR SPEND

This YearLast Year

Training and

HR Spend

$11.88

million

$10.23

million

As a % of Revenue0.40%0.39%

GENDER RATIOS

MaleFemale

New Zealand71%29%

Australia62%38%

Asia41%59%

Americas60%40%

Europe 74%26%

Total Group67%33%

If we remove Owner Drivers and EU Drivers

f rom the calculation, gender ratios are 59%

Male and 41% Female.

TEAM NUMBERS

This YearLast Year

New Zealand2,3622,272

Australia1,7891,741

Asia384347

Americas896805

Europe2,6482,408

Total Group8,0797,573

Debtors Days Outstanding

This YearLast Year

Debtors Days

Outstanding

38.3437.52

FEMALE BRANCH MANAGERS GLOBALLY

46

37

20182019

31

27

20162017

What network
intensification looks like

We locate our facilities around the

world, as close to our customers

as possible. Investment in this

decentralised model extends the

reach of our physical network and

increases our ability to provide a

faster, more efficient service both

locally and globally.


FOR EXAMPLE IN NEW ZEALAND:

What: Secured 3.6 hectares of land in Hobsonville,

West Auckland in November 2018.

Why: This location will enable us to service our customers

in West and North Auckland from a local base, instead of

relying on facilities an hour’s drive away. It places our people

closer to our customers and reduces our reliance on the

congested South and central Auckland arterial routes.

The Hobsonville facility will also free up capacity in our South

Auckland branches, which in turn, allows for growth across

the greater Auckland region.


When: Completion of 18,240m

2

freight terminal by

early 2021.


32

OUR BUSINESS Network Intensification

HOBSONVILLE, Auckland
Our West Auckland development

is typical of our intensification

strategy internationally, with

branches/sales offices recently

opened in Bendigo, Ballarat and

Geelong in Australia; Fukuoka

and Nagoya in Japan; and Hanoi

in Vietnam with further branches

planned around the world.

THE KEY TO NETWORK INTENSIFICATION

>Be where our customers need us

> Trust those closest to our customers to make the

decisions. They know more and can do a better, faster,

job than someone 100 kms away

>Expand the network to maintain continuous custody of

customers’ freight and control quality

33

A key strength of the Mainfreight technology platform is
our ability to provide global visibility to our customers for

their supply chain across all regions and divisions within our

business. Further strengthening this position, is the simple

and easy way we provide customers with this visibility,

through our global customer portal Mainchain, helping us to

attract and retain customers across products and regions.

Mainchain allows you to track shipments across domestic

deliveries as most of our competitors also do, but it becomes

more powerful where a customer uses all facets of our

global systems.

For example, an ocean freight export shipment being

dispatched from one of our European warehouses, to another

Mainfreight warehouse in a different region of the world.

Although there are many segments to the supply chain, some

provided by third parties, like the shipping lines, Mainchain

pulls all this information together to show our customers the

key milestones from start to finish.

In the above example, we are able to show:

>pick, pack and dispatch milestones from our

‘s-Heerenberg warehouse

>cartage to the Rotterdam wharf

>vessel departure and journey from Rotterdam

>arrival information at the Port of Melbourne

>customs clearance

>cartage from the wharf, and finally

>delivery and put away in our Epping, Melbourne

warehouse.

Our technology wraps around and displays the physical

movements and our business processes globally. This

capability gives us a strategic selling proposition.

Recording this data also allows us to provide customers

with significant reporting and data analysis capability which

enables them to review the past and use it to predict and

influence the future of their global supply chain.

Customers are no longer just looking for track and trace

capability and now have a large appetite to utilise the

information we can provide. This is especially relevant

for our large multi-national customers. Mainfreight has

made significant investment to improve our ability to give

customers insight into their own supply chain, as well

as being able to make comparisons with global supply

chain trends.

The complexity of our supply chain data can potentially

inhibit the fullest use of our technology, therefore we are

working to provide better online training tools, for both our

own people and our customers, to ensure our systems are

effective and provide the maximum benefits possible.

34

OUR BUSINESS Technology

Providing visibility of freight

globally, helps attract and

retain customers across

multiple products and regions.

SHAUN NUNN-PATON AND SAM SIMONIAN – Kookaburra, Australia
35

Our People
Attract and retain individuals who ‘get’ our

purpose and entrust them to grow our unique

culture and values.

Our Customers

Make decisions which contribute to the overall

success of our customers’ businesses.

Quality

Over-deliver on quality and initiative. Measure

and continuously improve the quality of our

performance daily.

Every day our teams around the world come to work, knowing that they

are part of something bigger than just their branch or country. Bigger

than this year or this decade.

Each of us is entrusted with living our culture and making decisions that

will forge a company future generations will be proud to be a part of.

36

What fuels our 100-year journey?

Growth

Grow and intensify our global network. Think

bigger and bolder. Identify and secure customers

who trade globally and fit our business.

Longevity

Think next decade, not the next quarter. Cultivate a

business which future generations will be proud of.

OUR BUSINESS 100-Years From Now

How we measure our next

century of progress

FREDDY LANDAVERDE – Newark, USA
37

It is our desire to invest
in world-class facilities.

Capital Expenditure is directed and approved by the

Board of Directors from recommendations made by senior

management. Expenditure can be classified into three

divisions; Property and Buildings, Information Technology

and General, including Plant and Equipment.

During this past financial year, Net Capital Expenditure

totalled $89.2 million. Capital required for property

development during the 2020 financial year is likely to be

approximately $165 million with total capital expenditure

estimated at $213 million.

PROPERTY AND BUILDINGS

Of the $89.2 million, $30.8 million was spent on property,

primarily across our network in New Zealand and Australia.

The major items were:

Land West Auckland, New Zealand$17.6 million

Sundry New Zealand property$8.4 million

Sundry other property$4.8 million

Three land purchases in Australia were scheduled to be paid

in the 2019 financial year. Delays resulted in the purchases

occurring early in the 2020 financial year. The impact was

$46.95 million. Land revaluation increases of $43.65 million

(see note 14 on page 94) were booked in the financial

year. The after tax change to the revaluation reserve was

$39.40 million.

It is our desire to invest in world-class facilities wherever

possible to ensure that our people have the very best

of facilities to assist the delivery of high quality supply

chain services.

It is also our intention to continue to intensify our network

across cities, countries and globally, to achieve faster delivery

times with greater efficiency, and to be located closer to our

customers.

Land investment decisions continue to be made on an as

required basis. In some instances, owned facilities with a

OUR BUSINESS Capital Expenditure

38

limited future due to size and/or design, will be sold and
leased back with funds being invested in land designated for

building a new facility.

Whilst land and buildings were inherited in Europe with

the acquisition of the business there, we have yet to invest

any large amounts of additional capital in this region; a

situation that will continue until we find acceptable business

improvement and growth. In the meantime, leasing facilities

in Europe is our favoured approach.

In the Americas, freight, warehousing and office facilities

are 100% leased. Time and growth will determine land and

building investment for the future.

INFORMATION TECHNOLOGY

Our investment in technology continues to strengthen our

efficiency and productivity, providing data and statistics

that allow us to deliver greater quality while providing

transparency for our customers, providing them with an

extra layer of intelligence as well as critical supply chain

information.

Capital expenditure on Information Technology was

$15.6 million in this past year and is likely to be a similar

amount over the next two years.

PLANT AND EQUIPMENT

The balance of capital spend, $42.8 million, is attributable

to plant and equipment purchased across New Zealand,

Australia, the Americas and Europe.

39

Net Capex $m

250

200

150

100

50

0

121314151617181920

TIM LOGAN – Auckland, New Zealand Westney Solar Installation

PEOPLE AND COMMUNITIES Our People
40

The strength of our global

team allows us to become

a better, smarter, business.

Our story to date has been built upon strong philosophical

ideals. Hire people more intelligent than you; create an

environment for them to succeed; allow them to assume

as much responsibility as they desire; and give them the

freedom to act decisively in building their future and ours.

The quality of people we allow to enter our family around the

world determines the future of our business. No longer can we

take comfort in having pockets of quality people. The depth

of our global talent must be rich in every region to enable the

continued growth of our global Mainfreight network.

In every region of our world we continue to seek out

intelligent, energetic and ambitious people who have a

passion for who we are and for what we do. With Training

& Development teams based in Europe, Asia, the Americas,

Australia and New Zealand, we are able to align our people

development efforts to create our own unique brand of

leadership, our own global identity.

It is this ever-growing pool of talent who we give the

opportunity, and the responsibility, to shape our systems, to

challenge our way of doing things and to create a better way

for the future. It is here where we evolve and improve into a

better, and smarter, business.

Parallel to the on-the-job learnings are global leadership

development programs and succession plans for leadership

roles at all levels, in all regions, of our business.

The net result of this commitment is the development of

leaders who possess a broad global perspective and an ability

to lead and execute change locally. People who are capable of

securing business, not only across our core products, but also

across the 24 countries that we currently occupy.

The growth of Mainfreight continues at an unrelenting pace.

Looking after our people with career opportunities, excellent

facilities and tools to facilitate world-class service is a priority

and a key point of difference for us. As is rewarding our

people fairly. To this end we have continued to increase our

starting salaries, and have further reviewed and adjusted

salaries for those at the lower end of our remuneration

scale. We have also maintained our discretionary bonus

scheme which has been expanded to all qualifying branches

worldwide. We are proud to share in excess of NZ$27 million

for this past twelve months in discretionary bonus payments

to those who qualified.

Highlights

>Safety awareness around the business continues to

improve as does our ability to capture and report on

relevant safety areas. The sharing of regional differences,

in relation to managing safety, aids in better and more

practical safety solutions.

>Continued focus on recruiting talent from both tertiary

and non-tertiary markets. Concerted focus on leveraging

relationships with new organisations sitting outside

of the university space, eg, schools and trade-focused

organisations

>Ongoing commitment to highlighting career paths for

women as well as men. Embracing diversity to be a

stronger, more insightful business.

>Development of a learning culture across the globe.

Creating opportunities for team in all parts of the business

to learn skills to make them better equipped to face issues

at work and also issues outside of work eg. resilience,

financial literacy, etc

>More so than ever, ensuring the cultural themes of “why

we do things the way we do” underpins course content

and interactions with our training teams across the

business.

41
DYLAN COLBERT – Auckland, New Zealand

42
René van Houtum

‘s-Heerenberg > Ostend >

Melbourne > LA

Jessica Hayes

Perth >

San Diego > LA

Fabien Purcell

Rotorua >

‘s-Heerenberg

Within our 8,079-strong global team, there is an abundance of talent,

experience and innovative thinking. To continuously improve the business

and keep our culture strong, many team members progress around the

network, sharing skills, spreading the culture and fast-tracking our growth.

Sander Vreeburg

‘s-Heerenberg > Brisbane >

Melbourne

Helen Healey

Houston >

Auckland

Cici Wang

Auckland >

Shanghai

PEOPLE AND COMMUNITIES Our People, CONTINUED

43
We’re shaking things

up here in Dallas.

Through operating in three of

Mainfreight’s markets I’ve learnt

to think big and instil this in our

teams. Having global experience has

shown me just how far and fast this

business can go - and we’ve got our

foot on the gas, here in Dallas!

I’ve seen first hand how our

customers experience the same

quality, processes and culture

everywhere in the world.

Knowing how strong we are

around the world, means we don’t

hesitate to go after the really big

opportunities here in the US.

From day one I’ve been brought up

by Mainfreight to shake the cage –

we’re doing that here in Dallas!


Andrew Coulton

New Zealand > The Netherlands >

New York > Dallas

44
These are the

custodians of our

future.

Our diverse tribe of people are

the guardians of our culture and

the keepers of our reputation.

They share a deep understanding

of the company they are part of,

and their role in shaping it for

generations to come.

Each day, our people around the

globe come to work with intensity,

passion and purpose. On these

pages, we celebrate the 8,079

remarkable team members who

are our present, our future and our

legacy.

They are one

remarkable team.

PEOPLE AND COMMUNITIES Our People, CONTINUED

45
New Zealand CAROTRANS AUCKLAND

Joshua Chellatamby, Kelly Chen, Cameron

Couper, Lionel Fernandes, Nidheesh

Gangadharan, Neil Harding, Pawinee Haw,

Henry Hawkins, Steve Hendry, Ara Jeong,

Anupreet Malhotra, Appanna (AJ) Manduda, Lisa

Pirangi, Kamylle Rodgrigues, Krishan Sharath.

CAROTRANS CFS AUCKLAND Dale

Abernethy, Patricia Ane, Mike Dunn, Robert

Fonoimoana, Jaedon Gasgoigne, Norm

Gasgoigne, Neil Harding, Michael Keresoma,

Robert Leaupepe, Brent Marks, Phillippa

Matthews, Wiremu Rice, Serge Thomas,

Raymond Tua, Raewyn Vela, Brett Whitehead,

Juliet Whitham.

CAROTRANS CFS

CHRISTCHURCH

Jacob Ewing, Darren

Jerard, Flynn Leckie, Kitt Taylor.

CHEMCOURIERS AUCKLAND Kevin

Aldridge, Ivan Alofa, Nikesh Chhana, Mari

Cooper, Emily Cox, Olivia Dempster, Safo

Fatamaka, Matthew Forno, Roydon

George-Thomas, Henry Gould, Caitlin Harvey,

Kohine Henare, Tamaiti Hira, Luke Matthew

Hiroa, Noel Hughes, Hans Huisman, Tevesi

Inukihaangana, Isi Kaliopasi, Conway Keilman,

Michael Keith, Raymond Kendall, Nagendra

Kumar, Iulieta Leafa, Michael Long, Apiuta

Malua, Iasinito Manu, Trevor Mitai, Jason Mouat,

Nigel Mouat, Allan Murray, Michael Neale, Frisco

Ng-Lam, Jordan Nicola, Andrew Olive, Mark

Pakuru, Kishor Patel, Unnati Patel, Janet Ropati,

Siotame Siaki, Daljeet Singh, Harpreet Singh,

Lakhvir Singh, Paramveer Singh, Scotty Singh,

Varinder Singh, Clinton Smith, Aaron Somerset,

Gail Street, Greg Stringer, Taylor Te Aonui,

Brenton Tae Rehu, Mickey Tenamu, Michael

Thomas, Barry Thompson, Noa Tohi, Kini Toloa,

Danny Tuivaiave, Sosaia Nomani Tupou, George

Ulutaufonua, Francois Williams, Phoebe Williams,

Andrew Woolliams, Sylvia Xie.

CHEMCOURIERS CHRISTCHURCH

Chris Dawson, Rey Dela Cruz, Chris Donaldson,

Riley Gibson, Iain Henderson, Alex Hubers,

Graham Jackson, Chelsea Kay, Grant Kilty,

Jason Knauf, Kane McGrath, Tyreke Nuku, Jack

O’Hara.

CHEMCOURIERS WELLINGTON

Deborah Paul, Rodney Warsnop. DAILY

FREIGHT AUCKLAND

Bikesh Agarwal,

Kalapu Alaelua, Faiyaz Ali, Fazeel Ali, Mumin Ali,

Josiah Alofa, Mahish Arora, Arthur Atoaga, Allan

Aufai, Antonio Aufai, Tolua Aufai, Altaf Baba,

George Backhouse, Taimur Badhniwalla, Russell

Barry, Conor Bradding, Matt Cagimaivuna,

Martin Cannon, Ashutesh Chand, Raghu

Chinchalker, Zhen Tao Chung, Joel Clarke, Ian

Cox, Jim Cullen, Tracy Curtis, Khushroo

Daruwalla, Steve Davis, Chetan Desai, Sangeeta

Devi, Saurabh Dhamija, Sidney Ene, Elijah

Etuale, Clinton Faamausili, Wilson Fitikefu, Lydia

Fohe, Timothy Gage, Joshua Gibbs, Rakesh

Goundar, Rynal Goundar, Surya Gounder, Elliott

Gutry, Tevita Hala, Ronnie Halagigie, Martin

Hamilton, Aimee Harding, Dean Harding, Gavin

Holm, Efaraima Ieti, Junior Ili, Lenny Jones, Ivan

Josephs, Melanie Joyce, Harjeet Kahlon, Max

Kaleopa, Tevita Kaliopasi, Eden Kato, Eden

Katonivualiku, William Katu, Watson Kauvalu,

Murray Kendall, Lionel Knox, Jashneel Kumar,

Yasbeen Kumar, Katalina Latana, Roger Leckner,

Esther Leilua, Osvaldo Letelier, Meleseini

Liuanga, Tenisi Liuanga, Tawhiri Mahara, Rita

Marsh, Corey Marshall, Eddie Marshall,


Shasta Mishra, Petty Mistry, Demetrius Moala,

Saia Moala Lehauli, Asif Mohammed, Mahoni

Mosese, Taukatelata Ofa, Talau Paila, Jayshree

Patel, Manoj Patel, Saurabh Patel, Phillip Payne,

Virginia Payne, Baxter Pepe, Kashween Prakash,

Anroth Pratap, Cameron Price, Shane

Pullen-Burry, Armani Rajan, Kumar Rajan, Zidane

Rajan, Daniel Riddell, Liam Rikihana, Anthony

Riley, Lloyd Rivers-Smith, Tua Ropati, Jordan

Sa’u, Vincent Saulo, Roy Savage, Veta Savage,

Jatin Shah, Anith Sharma, Wesley Siakumi, Bali

Singh, Gurdev Singh, Gurpreet Singh, Hemant

Singh, Himmatveer Singh, Jai Singh, Jatinder

Singh, Lakhbir Singh, Lesley Smith, Michaela

Smith, Mike Smith, Peter Smith, Warwick Smith,

Johnny Staiger, Tauaese Tauaese, Andy Taunga,

Noreen Taurua, Daniel Teu, Jonevan Togiamana,

Manulua Toilalo, Tusi Toloa, Richard Tovia,

Bernadette Tufuga, Jennifer Tuhi, Teresa Tuhi,

Kena Tuhua, John Tui, Fisa Tu’imana, Piutau

Tuitupou, Mosese Tupa, Tasa Tupou, Joseph

Tuputala, Kaleb Turangakino, Joseph Tutuila,

Fred Ulberg, Vosa Vaihu, Quintin Waite, Sheryl

Waite, William Weekes, Zoe Wilkinson, Alfred

Williams, Logan Williams, Hayden Young, Ubaid

Zahidani.

DAILY FREIGHT

CHRISTCHURCH

Sheik Ali, Rebecca Baxter,

Helen Black, AJ Bradley, Phillip Brosnahan,

Sarah Brown, Beverley Canovan, Paul

Chatterton, Harry Clinton-Baker, Roberta Davids,

Robin Davids, Susan Davies, Craig Dixon,

Joshua Green, Ross Hawken, Levi Hibbert,

Thomas Hira, Porto Keefe, Caleb Kerr-Charnley,

Taylor Kerr-Charnley, Tony Kerr-Charnley, Abbey

Kirk, Mohit Kumar, Shane Kupfer, Angus Lowe,

Lachlan McGhie, Brittany McGill, Lucy Mitchell,

Tom Morgan, Sam Morton, Steve Moule, Jayne

Munslow, Sarah Munslow, Ajeet Nahal, Nikki

Oliver, David Parker, Kataraina Peeti, George

Perkins, Tara Price, Tony Ringdahl, Kate Roach,

Rachel Rupapera, Bhagwant Singh, Jagdeep

Singh, Jaspreet Singh, Sakinder Singh, Navreet

Singh Bindra, Mandeep Singh Gill, Aaron Smith,

Craig Stewart, Carl Stringer, Kim Tallott, Ngarui

Taurua, Tamas Taurua, Tamati Thomson, Mark

Tomlinson, Dhananjay Trivedi, Amelia Woulfe.

DAILY FREIGHT / CHEMCOURIERS

HAMILTON

Neil Douch, Tom Kumitau,

Manase Lavemai, Ernest Tauai, Jodi Vaughan.


DAILY FREIGHT WELLINGTON

Peter

Ansell, Barry Bellamy, Sam Ede, Seila Fiso,

Rukua Kavakura, Steve Marsh, Adriano Mello,

Ahu Moeahu, David Priestley, Graham Ralston,

John Salanoa, Ron Satherley, Lynette Sinden,

Gordon Tobin, Alex Walters.

MAINFREIGHT

ASHBURTON

Ross Butler, Christopher Frost,

Yvonne Kirdy, Alwynne Linwood, Barry Linwood,

Arvin Mahal, Shea Rainey, Brodie Reid.

MAINFREIGHT AUCKLAND Jon Absolum,

Maree Adams, Tevita Afu, Mohammed Ahmed,

Mahamed Ali, Mustafaq Ali, Shania Aumau,

James Avery, Emanu Avua, Fazeel Basha,

Matthew Bayani, Edward Beazley-Cook, Prakash

Bechan, Hayden Bell, Shailesh Bhuthadia,

Wayne Birch, Beau Birtwistle, James Boyd, Don

Braid, Kym Brett, Carol Brown, David Brown,

Hohepa Brown, Trudy Burt, Alex Campbell, Rex

Campbell, Vania Chalmers, Shamal Charan,

Jeremy Chin, Yvonne Chissell, Milan (Jnr) Cihak,

Milan (Snr) Cihak, Ana Cihakova, Renata

Cihakova, Bryan Clark, Dianne Clemens, Paul

Cole, Antonio Collings, Scott Collings, Catherine

Collins, Kevan Collins, Nikki Cooper, Simon

Cotter, Edward Creedy, Rob Croft, Robert Croft,

Hazel Crosbie, John Dash, Martin Devereux,

Chris Drader, Kevin Drinkwater, Cory Duggan,

James Dunbar, Alan Edwards, Beaula Elia,

Katarina Ene, Nina Ene, Craig Evans,


Christina Ewe, Samuel Falakiseni, Ramez Fawzi,

Lanuola Fesolai, Robbie Foggin, Felix Fotunga,

Nehu Freeman, Paul Freeman, Joshua Garland,

Kevin Gee, Carl George, Narsheer Gill, Josh

Gillespie, Simon Glenn, Neil Graham (In

Memoriam),Jonathan Gravatt, Mitch Gregor,

Helen Harden, Mohammed Hassan, Joshua

Haunga, Josh Hawkins, Yi He, Mona Hellens,

Ana Henry, Boris Hirawani, Emmet Hobbs,

William Hockley, Charlotte Hoeft, Jiordyn Hoeft,

Carl Howard-Smith, Quinnton Hubbard, Connor

Hull, Graeme Illing, Saiyad Imam, Matt Irvine,

Chris Isaia, Tom Jane, Tessa Jenkins, Fred

Kalman, Emma Katavich, Melanie Katu, Nic Kay,

Erica Kim, Sonia Kippenberger, Michael Kokaua,

Chandre Koole, Kuatasene Kuata, Shalini Kumar,

Sonal Kumar, Lowrance Lal, Omeksh Lal, Shawn

Lam Sam, Mark Lane, Wilson Li, Migle Mackay,

Kris Maddaford, Nitesh Mani, Sarah Mann,

Corina Mareela, Kane Mareela, Robert Mareela,

Tanya Matkovich, Glenn Matthews, Vaughn

McDonald, Andrew McKenzie, Rachel McKenzie,

Junior Meatuai, Zierra Misiaita, Bryan Mogridge,

Dennis Morar, James Morgan, Oliver Morrison,

Shaun Morrow, Max Muaulu, Dionn Munro,

Chicago Nairn, Lui Naoupu, Millie Neioti, Alan

Neithe, Mark Antony Nisbett, Zedekiah Nuku,

Lucy Owen, Luke Paine, Maureen Paine, Evelyn

Pak, Vitolio Palu, Chris Park, William Parkinson,

Kate Parsons, Mayurkumar Patel, Sietal Patel,

Israel Paul, Tom Paul, Mike Perez, Maurie

Phillips, Bruce Plested, Karl Pomare, Queleah

Pompey, Adrianne Pongi, Shayne Porter, Bimal

Prakash, Avikash Prasad, Richard Prebble,

Rowan Preston, Craig Radich, Na Raihania,

Nathan Reed, Cameron Reibel, Keith Robb (In

Memoriam), Jason Rogers, Miracle Ropati, Sir

Don Rowlands (In Memoriam), Mohammed

Saheem, Raman Saini, Vickram Saini,

Muhammed Saleem, Anil Sami, Georgina

Sanders, Tarlochan Sarai, Glenn Searle, Vavega

Siliga, Carolyn Sim, Donna Sim, Harry Sima,

Michelle Simmons, Anmol Singh, Armanpreet

Singh, Arpandeep Singh, Gurinder Singh,

Gurpreet Singh, Jaswinder Singh, Mohan Singh,

Narinder Singh, Rajneet Singh, Resham Singh,

Navi Singh Sidhu, Severe Sipeli, Julie Slessor,

Campbell Smith, Dansey Smith, Grant Smith

Regan Somers, Brooke Stephens, Kendal

Stratford, Jason Street, Hassanjit Sumra,

Bronwyn Symons, Sheena Symons, Sjarn

Tagoai, Jah-Milla Taitin, Jamane Tarau, Tuaine

Tarau, Phillip Tasmania, Mele’ana Taufa, Mike

Taufa, Sifa Taukaka, Suzanne Taunton, Jacob

Taurua, Norm Teio, Thomas Tetai, Sue Tindal,

Anthony Tipene, Easter Tiute, Bryan Tohi, David

Tolson, Paul Tolson, Taylor Tolson, Kevin Tram,

Joe Tuala, Eddie Tuhakaraina, Lee Tuimauga,

Sepiuta Tuipulotu, Paul Tupaea, Herman Ulberg,

Malcolm Variava, Alex Vatau, Jonathan Venema,

Karen Vuetibau, Mellissa Wearing, Daniel Wells,

Michael Whitehead, Debbie Williams, Jeremy

Williams, Rob Williams, Tim Williams, Scott

Wilson, Jareth Wong, Hamish Woods, Laurie

Wright.

MAINFREIGHT BLENHEIM Murray

Batchelor, Lyndal Coates, Brendon Day, Wagner

DeJesus, John Falconer, Kendra Gill, Lily

Graham, Anton Hartley, Peter Jones, Janet

Landon-Lane, Christopher Mealings, Andrew

Pillans, Rhonda Pillans, James Poulter, Amanda

Sanft, Martin Smith, Shane Smythe, Courtney

Stevenson, Melissa Stevenson,


James Thompsett, Shane Wood.

MAINFREIGHT CHRISTCHURCH Natalie

Armstrong, Nicolas Aubrey, Darren Bernhardt,

Philip Black, Debbie Blackburn, Blair Bradbury,

Dean Buick, Craig Burberry, Harry Burgess,

Chad Chamberlain, Donald Chamberlain,


NZ

Rhys Chamberlain, Joshua Charlton, Egon
Chmiel, Dennis Christmas, Rhyl Cole, Alicia

Coles, Robin Cook, Sue Cook, Matthew

Cooper, Anja Crawford, Michael Crawford,

Lorryn Dalzell, Sally Dalzell, Luke Davey, Kelly

Dean, Megan Delaney, Owen Donald, Jessie

Eastmond, John Ferguson, Grant Forbes,

Steven Grace, Mike Griffiths, Elijah Hapi, Sean

Henshaw, Edward Hiku, Tyler Hodgkinson,

Russell Jackson, Benjamin Jeffery, Mike Jeffery,

Desiree Jones-Jackson, William Kelly, Carolyn

Lee, Patrick McGillivray, Robert McGillivray,

Laurie McMahon, Neil McRobbie, Colin McTurk,

Jacob Middlemiss, Bob Murdock, Mark Nicol,

Connor Oberndorfer, Ashton O’Neil Morel, Chris

Radford, Darryl Reid, Ian Reid, Tracey Rickard,

Jamie Roberts, Brett Rodgers, Mitchell Ross,

Jenna Rowe, Kieran Rowe, Patricia Rush, Ben

Sharp, James Sheehan, Camern Short,

Amrinder Singh, Jaswinder Singh, Jatinder

Singh, Kawalbir Singh, Sarwan Singh, Wendy

Smith, Lachlan Stanley, Robin Suhag, Lindsay

Thomas, Sridhar Thutkuri, Russell Waters,

Desirae Watkins, April Woods, Jason Woods.

MAINFREIGHT CROMWELL Paul Arras,

Ian Clapperton, Kirsty Clapperton, Max Finau,

Cassandra Hunt, Zarik Khan, Yvette

MacLennan, Amy McAuliffe, Diane McAuliffe,

Hayley McAuliffe, Matt McCutcheon, Nathan

McEldowney, Andrew McFazdien, Jed

McLellan, James McMeekin, Sarah Neumann,

Hinton Osborne, Cody Oughton, Paula Perkins,

Jeff Saunders, Aveneel Simon, Arshdeep Singh,

Bhagwant Singh, Hawinder Singh, Trevor

Smith, Tim Stewart, Rosslyn Todd, Hamish

Wilkinson, Paul Wright.

MAINFREIGHT

DUNEDIN

Katelyn Allison-Dey, Nathan

Anderson, Blair Bennett, Josh Bottomley, Tim

Brasier, Jeff Bryant, Barry Clark, Graeme Clark,

Brendan Clyne, Greg Colston, Adam Crashley,

Wayne Day, Wietske de Groot, Rex Edwards,

Carl Gardner, Kyle Grayston, Fiona Guildford,

Trevor Gutsell, Barry Hall, Barry Hanson,

Meghan Hatley, Brett Johnston, Kamm Kawau,

Melissa Kawau, Matt Keane, Yvonne King,

Jared Kwiat, Andrew Laurie, Stephanie Laurie,

Chris Marsden, Jordan Marshall, Leah Maxwell,

Carter McAuliffe, Doug McElhinney, Mark

McElhinney, Ryan McLean, Doug Melrose,

Alana Mutch, Cameron Power, Yoland Power,

Jaime Randell, Kent Ranui Te Ahuru, Travis

Rosewarne, Tony Russell, Kyle Rutherford,

Derek Saville, Steven Smith, Evan Steel, Robert

Stout, Colin Tod, Brendon Todd, Keiran Troy,

Warren Turner, Ryan Van Der Lem, Carla Vega,

Frank Watson, Kelly Wilson, Lindsay Wilson,

Jaime Winklemann, Rick Winklemann, Geoffrey

Woods-Bryan, Jaccqi Woods-Bryan, Heath

Woollett, Zhaviar Woollett.

MAINFREIGHT

GISBORNE

Peter Archibald, Bevan Billing,

Donna Brown, Eru Campbell, Lisa Gillies, Tony

Gray, Danny Hohipa, Rangi Kahu, David Kahui,

Wayne Lee, Dave McLauchlan, Elaine

McLauchlan, Margaret Muir, Anthony

Ngaronoa, Daniel O’Neill, Eliza Poingdestre,

Wayne Poingdestre, Amokura Rangihuna, Mike

Rutherford, Sally Taylor, Ken Whitehead, Ben

Williams, Malcolm Wilson, Vanessa Wilson.

MAINFREIGHT GORE Janine Blanc, Jeff

Blanc, Kris Blanc, Nerrissa Blanc, Braydon

McKay.

MAINFREIGHT GREYMOUTH

Danny Baker, Simeon Clarke, Wayne Dalzell,

Jozef Grimes, Andrew Havill, Cory Hill, Russell

Hines, Matt Ilton, Moana Johnsen, Keith Lavery,

James Lee, Scott Lemon, Jamie McGeady,

Shaun Williamson.

MAINFREIGHT

HAMILTON

Dekota Adams, Oscar Anderren,

Ashley Andersen, Shaun Atkinson, Jimmy

Baker, Alexander Bardoul, Alice Barrett, Patrick

Barton, Richard Bassett, Joseph Brickland,

Sierra Brocas, Robert Bryers, Bianca Burge,

John Burke, Kirwan Carter, Steve Carter, Ashnil

Chand, Sukhpreet Chandi, Darren Clark, Barry

Clifford, Krystella Crawford, Thaila Crawford,

Christina Dalgety, Paora Dennis, Raana Dennis,

Randall Dennis, Ray Dixon, Robert Douch, Allan

Duncan, Gavin Duncan, Damian Edwards,

Donna Everaarts, Nikolette Fahey, Paul Fahey,

Jonathan Feast, Adam Ferguson, Ross

Fitz-John, Jesse Folkerts, Mele Fonua, Wayne

Goodwin, Jocelyn Gordon, Amy Graat, Jo-Amy

Graham, Arthur Green, Melanie Greenbank,

Jimmy Gregory, Hayden Grocott, Andrew Hall,

Jaimee Hall, Jordan Halse, Eilaina Harris,

Tracey Hayes, Trevina Herbert, Aubrey Hicks,

Carlos Hicks, Nathan Hobart, Tony Holes, John

Irwin, Maurice Jarrett, Mathew Jessop,


Murray Johns, Anna Jones, Kevin Judge,

Andrew Kaan, Taranjit Kalkat, Kirandeep Kaur,

Denise Kearns, Alexander Keen, Vicky Kerapa,

Haami Kingi, Amy Knuth, Dayna Krippner,

Ritesh Kumar, Bradley Laird, Murray Lasenby,

Keron Lawrence, Denis Laws, Brian Lawson,

Bill Lawson, Keegan Lewis, Darrell Madsen,

Francis Maxwell, James McBride, Peter

McIntyre, Toby McLean, Karen McLeod, Luke

Metekingi, Amittai Mita, Fiona Moore, Richard

Mountney, Abdus Muzahid, Tamatoa Nepson,

Jonathan Ngakuru, Marie Oliver, Peter Paniora,

Tom Parker, Tuariki Plowman, Mark Poata,

Suresh Prasad, Anne Marie Pratt, Shane Pratt,

Lawrence Purchase, Sanjay Reedy, Tannyin

Reeves, Darren Richardson, Robb Ridle, David

Roberts, Georgia Ross, Abdus Samad,

Harwinder Sandhu, Vaughn Sargent, John

Scandlyn, Debbie Schollum, Imitiaz Shah,

Shawn Shoebridge, Rajpreet Sidhu,

Gagandeep Singh, Gurkirat Singh,

Hanmanpreet Singh, Hardeep Singh, Harjit

Singh, Harmanpreet Singh, Jitender Singh,

Nasib Singh, Satpal Singh, Surrinder Singh,

Karl Siteine, Shaun Smith, Ross Snowdon,

Potini Soutar-Nicolson, Darrel Stevens, Mike

Stockley, Sam Sullivan-Laws, Tangaroa Taara,

Beau Taipari, Ashleigh Tauai, Trudy Te Aho,

Frank Te Wani, Richard Thomas, Jackson Tito,

Caitlin Torrens, Raymond Tucker-Hoogstraten,

Marcus Tumai, John Van Der Hulst, Kristie

Wade, Stuart Wallace, Anthony Walsh, Bridget

Walsh, Paula Watts, Tyne Watts, Brendon

Webster, Jacob Weherua, Eruera Whare, Daniel

White, Robert Wichman, Steven Wildbore,

Martin Wilson.

MAINFREIGHT

INVERCARGILL

Steve Acker, Roy Algar,

Jackie Buckley Gray, Finn Burns, Ian Garrick,

Jason Gray, Hannay Lapana, Renee Manaena,

Nathan McKay, Stephen Monaghan, Annette

North, Debbie Palfrey, Dean Reynolds, Harry

Reynolds, Nathan Reynolds, David Searle, John

Searle, Gurinda Singh, Kelly Thorburn, Ross

Wells, Jeanette Williams, Ricky Wylies.

MAINFREIGHT KAITAIA Kurt Tahu,

Tunney Thrupp.

MAINFREIGHT

MASTERTON

David Comfort, Bob

Dougherty, Andrea McCafferty, Shane

McDougal, Glenn Murphy, Matt Page, Gary

Strang.

MAINFREIGHT MOUNT

MAUNGANUI

Hannah Abbott, Alan Allport,

Eric Ashe, Colin Belk, Richard Benseman, Carl

Bergersen, Adrian Betterton, Troy Bidois, Brent

Brosnan, Lydia Burnett, Greg Camenzind,

Anthony Chadwick, Darren Chadwick, Dean

Chadwick, Lance Chadwick, Ben Clark, Stu

Clarke, April Corbett, Richard Currie, Caitlin

Darby, Marise Davis, Dipak Dayal, Frazer

Edwards, Wayne Ellis, Jayemi Emery, Neville

Emery, Kylie Foreman, Callan Gear, Jordan

Golding, Paul Grimes, Kayla Hansen, Reece

Harlan, Yana Heath, Edward Hemara, Kawana

Hemara, Piko Hemara, Alex Herd, Ray Hewlett,

Craig Hine, Hirini Houia, Mark Jones, Sheldon

Kereopa, Ronald Kwan, Jordan Lilley, Tevita

Mafileo, Debbie Martin, Marcel Milner,

Whetu-moses Miringa, Rick Ngatai, Andrew

Parker, Jonah Pinikera, Wayne Powell, Lawton

Rebbeck, Chris Reti, Tammy Rivers, Jerry

Robinson, Mark Robinson, Jessica Rolleston,

Lindsey Rund, Bickram Sangha, Justin

Sangster, Bevan Scott, Charanjit Singh, Prince

Singh, Ranjit Singh, Leroy Smith, Keegan

Stewart, Dale Swainson, Kelvin Teasdale, Lee

Tuhura, Chris Webb, Maurice Webb, Schirelle

Wildbore, Clive Wilson, Michael Woodham,

Tracey Wright, Martin Binnie, Jordan Head,

Joshua Jarmin, Shiv Kapoor, Tevita Mafeleo,

Grace Swindells, Kataraina Wright.

MAINFREIGHT NAPIER Mark Balhorn,

Kelly Barnett, Anthony Black, Jeff Chapman,

Kaylene Corin, Stevie-Rei Cunningham, Clayton

Cuttriss, Jordan Dougan, Samuel Gallagher,

Fraser Garnett, Shane Gilmour, Tui Haami,

Jacob Harrison-Daley, Daniel Hodson, Adam

Jackson, William Jones, Jason Kennedy,

Zachary Leeman, John Mackay, Lesley

Matheson, Andrea Mill, John Montgomery,

Henare Morton, Wayne Mullins, Kaye Ngapera,

Kerryn O’Neill, Fee Orviss, Jenny Pedersen,

Gerard Phillips, David Quickenden, Scott

Russell, Glen Scott, Darryn Scurr, Shelton Stok,

David Storey, Noel Stubbs, Deepak Verma,

Craig Walker, Shannon Wano, Julian Ward, Bill

Whyte, Chad Whyte, Ethan Whyte, Andrew

Wickham, Heath Zachan.

MAINFREIGHT

NELSON

Tui Ball, Craig Barron, Paul Brown,

Alan Davis, Simon Davis, Shannan Donker,

Steve Edgar, Chris Edwards, Dan Edwards,

Charlotte Gordon, Carmen Graham,


Aimee Groome, Craig Groome, Rochelle

Holland, William Holland, Tracey Hughes, Daniel

Kerr, Shaun Mana, Glen Markland, Nick Max,

Stu McKenzie, Nikita McMasters, Ruby

Morrison, Ronald Pawson, Rohit Saini, Michael

Savage, Bill Simmiss, Graeme Towns, Pam

Waddington, Neil Watson, Wayne Westall, Brett

Yates.

MAINFREIGHT NEW

PLYMOUTH

Hannah Abraham, Wiki

Abraham, Nathan Bain, Jess Burkhart, Sharyl

Coates, Paul Cottrell, John Davidson, Jonathan

Davies, Cori Delves, Aaron Farley, Sonia Farley,

Tim Farley, Ryan Gadsby, Peter Graystone,

Simon Harris, Joseph Horo, Jenna Hua,

Benjamin Leaf, Steve Longstaff, John

McKenna, Brittany Mewes, Cody Miller, Tara

Miller, Kayne Newman, Joel Paki, Rick Payne,

Scott Peters, Lane Powell, Marcus Russ,

Steven Short, Tony Smith, Caeten Streat, Josh

Treneary, Caleb Wheatley, Dylan Wheatley, Ben

Wiseman, Cara Young.

MAINFREIGHT

OAMARU

Richard Cowan, Melanie Duggan,

Kelvin Fodie, Paul Johnston, Grant Matthews,

Lenny Rankin.

MAINFREIGHT

PALMERSTON NORTH

Jason Adams,

Benny Barr, Angela Batt, Henry Boon, Forbes

Campbell, Michaela Caulton-McNabb, Trevor

Chambers, Henare Cunningham, Brett Cuttle,

Peter Darroch, Simon Dean, Valerie Dyer, Paul

Foxall, John Fraser, Marsh Graham, Suzan

Graham, Riley Gray, Nasoni Havea, Aroha

Hawkins, Jordan Henare, Cody Heu, Vanessa

Johnson, Archie Kauri, Finn Kearns, Tuhi

Kimura, John King, Anthony Knuth, Rex

Lambert, Hayden Little, Steve Love, Stacey

Luke, Tipu Luke, Michael Mackley, Amber

Mann, Pita Marshall, Rebecca McBride, Ross

McDonald, Rob McDougal, Justyn McQuade,

Tracey Mitchell, Jessica Mudgway, Keith

Mudgway, David Nicol, Daniel Pamata, Scott

Payne, Charles Pearson, Ray Prideaux,

Stephen Ralph, Etu Rongotaua, Byron

Rowlands, Jamie Sanson, Caleb Satterwaite,

Matthew Sherlock, Preet Singh, Raja Singh,

Vijay Singh, Nathan Smith, Wendy Stewart,

Josh Stimpson, Reagan Swindells, Bryan

Taiaroa, Jaxson Taylor, Albert Tovio, Michael

Tunnicliffe, Jason Waho, Temau Waho, Chelsey

Watson-Fryer, Jackie Williams, Andrew Young.

MAINFREIGHT PARAPARAUMU Nicole

Graham, Greg Howard, Craig Quinlan, Andrew

Rankin.

MAINFREIGHT ROTORUA Ricky

Bishop, Madison Blank, Manasa Bole, Gregg

Conning, Daniel Corbett, Tyson Corbett, Louise

Day, Gary Dunseath, Peter Esau-Manutai, Dave

Farrell, Carl Gage, Barbara Harrison, Roger

Hope, Benjamin Jenkins, Raena Lacey, Talya

Macredie, Aaron McMahon, Semisi Paea, Mark

Print, Martin Searancke, Emily Sime,

Varinderdeep Singh, Luke Skipwith, Travel

Taura, Matthew Thompson, Benjamin White.

MAINFREIGHT TAUPO Tony Hurunui,

Nick Hyde, Jenny Payne, Brendan Smith,

Andrew & Pauline Thoresen, Kapi Tupe,

Jonathan Vaughan.

MAINFREIGHT

THAMES

Jade Darrah, Deanna Donovan,

Phil Frost, Dhenby Harvey, Ryan Kennedy,

Lisa McCarthy, Dave McGruer, Kiu Muller,

Carson Paul, Lance & Trina Paul, Robbie Paul,

John Reynolds, Marcus Taipari, Barry Watson,

Maurice Watson, Ash Wearing, Mark Wearing,

Otis Williams, Vern Wright.

MAINFREIGHT

TIMARU

Michael Armstrong, Nigel Blackler,

Paul Boa, Sandra Breen, Simone Brett, Kelly

Cabrel, Jarrid Cooper, Hollie Duncombe, Dave

Ennis, James Hay, Lisa Howey, Geoff Kerr,

Murray & Juliet Kippenberger, Nathan

Kippenberger, Andrew Liversey, John Lyon,

Kevin McElhinney, Cameron Milne, Melissa

Nolan, Tyler O’Leary, Ryk Ormsby, Mark Perrin,

Leon Pirake, Matthew Russell, Shannon Sim,

Brooke Wilkie, Stacey Williams, Craig Wilson.

MAINFREIGHT WELLINGTON Kwaid

Ah-Hoi, Craig Armstrong, Lee Bailey, Sarah

Bennison, Rocky Betham, Ian Black, Henry

Booth, Andre Boyte, Dempsey Broad, Martyn

Bryant, Daniel Bullimore, Annabelle Carpenter,

Scott Carson, Sean Clark, Tama Coker, Te Ariki

Coker, Sam Collier, Paul Connolly, Max Cottle,

Matt Dalton, Harry Davey, Isaac Davis, Ellie

Dennis, Richard Devine, Harpal Dhanjal, Kasey

Downs, John Edgar, Paul Fincham, Pouevalu

Fiso, Tatjiana Fiso, Steffan Fry, Amie Gentle,

John Graham, Shannon Grice, Johnny

Hadfield, Matthew Haskell, Pat Henderson,

Simon Holt, John Holton, Jordan Houpapa,

Daryl Hutchinson, Jamal Idris, Clayton Ikenasio,

Peter Jackson, Leon Jahnke, Chris Jordan,

Daniel Jupp, Jacob Kelly, Maresa Kilepoa,

Renee King, Sean Love, Alex Macdonald,

Siegfried Mariner, Richard Maxwell, Mike

McAlister, Robert McGrath, Leslie Mendoza,

Liam Menheere, Raeden Mikara,


Stephen Miles, Herini Moeahu, Hanipale

Nouata, Kristy Powell, Lee Puepuemai, Tai-Paul

Rerekura-Tamaiva, Dennis Reynolds, Amanda

Roberts, Paul Roberts, Scott Roberts, Connor

Rocard, Michelle Romaine, Kaitao Rota, Kendra

Rowe, Sukhbeer Sacndeva, Andrew Schofield,

Alastair Scott, Pisa Seala, David Sherborne,

Lovedeep Singh, Manny Singh, Sharanjit Singh,

Sukhdeep Singh, Shane Smith, Jade Soliga,

Nicholas Sommers, Cesar Talifolau, Gordon

Tanis, Sola Tanoi, Rios Taramai, Kenny Tarei,

Greg Te Kura, Stuart Thorn, Jens van der

Sanden, Barbara Vincent, Bob Vincent, Josh

Voorwinde, Ross Ward, Joshua Watson-

Holmes, Haedyn Wicks, Eddie Yako.

MAINFREIGHT WHANGANUI James

Albert, Jared Barrow, Innes Campbell, Daryl

Edmonds, Lyn Johnston, Bass Kane,

McLachlan Kara, Ricky Katene, Jason

Kibblewhite, Hayward Sarah, Ratana Tane.

MAINFREIGHT WHANGAREI Kasandra

Albert, Zach Alison, Lauren Ambler, Manon

Austin, Todd Beehre, Jim & Heather Bond,

Brendon Boyte, Rebecca Brady, Kevin Brown,

Brad Cates, Simon Cauty, Terry Coopman,

Andrew Davies, Jeremy Elliot, Dominic Foster,

Chris Francis, Brendon Harris, Levi Harris, Carl

Hawkins, Tim Hayward, Bryan Herbert, Duane

Herbert, Josh Hoek, Matt Hudspith, Lesley

Huia, Willie Karena, Pieter Lambrechts, Anthony

Lewis, Tepa Littin, Ross Macdonald, Sam

Mather, Patrick Mcalees, Gavin McCleary, Taylor

McCleary, Craig McKenzie, Allan McQuinn,

Jason Morgan, Tarryn Neal, Tim Ottenhof, Jeff

Panui, John Paul, Ngakau Paul, William Paul,

Tahi Poasa, James Poulson, José Restrepo,

Kevin Roberts, Ben Shortland, Sandeep Singh,

Rebecca Sketchley, Wayne Stacey, Kimi Tae,

William Tae, Dave Tarawa, Philip Tepania, Lyall

Thomson, Connor Tulloch, Kylie Tulloch, Phillip

Tulloch, Melissa Wendt, Daryl Whautere, Te Hau

Whautere, Jamie Williams, Joseph Yearbury.

MAINFREIGHT AIR & OCEAN

AUCKLAND

Tiaz Ali, Kevin Ann, Behnaz

Bahmani, Darren Barboza, Mark Belfiore,

Matthew Beveridge, Kirsty Bristol, Sonya

Buckle, Penelope Burt, Liz Castillo, Todd

Chandler, Wilsyn Chang, Brian Chen, Tracy

Cleven, Dylan Colbert, Rachel Crawford, Diego

Cueto, Christine Cullen, Jeremy Davis, Flavia

Derbyshire, Sean Dillon, Shane Douglas,

Mei-Ling Faitau, James Gatley, Mark Glover,

Canoe Halagigie, Manu Halagigie, Victoria

Harwood, Helen Healey, Shannon Hegan,

Daniel Huo, Richard Ioane, Jason Kim, Leo

Kim, Kura Kiria, Rajenesh Kumar, Tarryn Lanner,

Catherine Le Vert, Emily Liang, Anu Manga,

Hayleigh McLean, Lisa Mitchell, Christian Moral,

Katrina Nathan, Phillip Nelson, Sarah Olo, Davis

Palmer, Leslie Pan Ge, Lex Paulo, Benjamin

Pearson, Joel Pereira, Daniel Plested, Amanda

Pritchard, Juliet Qiu, Rachael Richardson, Paul

Riethmaier, Karen Roberts, Robert Samuels,

Sonny Sarwara, Harmandeep Singh, Rashni

Singh, Sandeep Singh, Charlie Sione, Matthew

Small, Karen Smith, Nicky Smith, Georgia

Staddon, Robert Stewart, Cathy Takiwa, Arwen

Tao, Patrice Temanu, Celia Tepania, Andrew

Thomson, Steven Tooley, Robert Tucker, Iki

Vaka, Raju Vegesna, Ye Wang, Antoinette

Ward, Annette Webb, Courtney Webster-Frost,

Nerida Whatmough, David Zhao.

MAINFREIGHT AIR & OCEAN

CHRISTCHURCH

Nicole Andrews, Derek

Black, Kevin Coman-Wright, Hayden Cook,

Timothy Coughlan, Katrina Coyle, Oliver

Dimmick, Craig Edwards, Lydia Evans, Zoe

Fowler, Cameron Godfrey, Paul Hale, Nicola

Henton, Lauren Hiku, Michael Louth, Jason

McFadden, Julie McIlroy, Jason Newton, Matt

Newton, Jacinda Potts, Michell Riley, Sarah

Robb, Hamish Robertson, Dennis Rowe,

Campbell Stark, Joel Stuart, Milly Taylor, Karen

Waltham, Helen Watson, Alana Wheeler, Elaine

Wong.

MAINFREIGHT AIR & OCEAN

DUNEDIN

Tracey Burrell, Jeffery Foster,

Nadene Moore, James Morrissey, Teresa

O’Connell, Richard Will, Mark Willis, Paul

Wilson.

MAINFREIGHT AIR & OCEAN

HAMILTON

Olivia Clark, Jordan Cox, Charles

Day, Carmen Hadfield, Greg Waylen, Albertine

Woodd, Amber Woodward.

MAINFREIGHT

AIR & OCEAN MOUNT MAUNGANUI

Margie Brunton, Duncan Byron, Cheryl Chye,

Nada Gvozdenovic, Carol Kennedy, Robyn

McCarthy, Georghia McFeteridge, Linda

Mitchell, Enora Moalic, Andrew Mole, Kyran

Pierce, Julie Scott, Jo Smart, Giovana Tabarini,

Shane Williamson.

MAINFREIGHT AIR &

OCEAN NAPIER

Levi Kroot, Monique Peary,

Michelle Stevenson, Krystle Strachan, Melinda
Thomson.

MAINFREIGHT AIR & OCEAN

NELSON

Jessica Hitchman, Megan Lockie,

Callum Marshall, Scott Rice.

MAINFREIGHT

AIR & OCEAN NEW PLYMOUTH

Ed

Gafney, Andrew Smith, Jill Sorensen, Brendon

Wylde.

MAINFREIGHT AIR & OCEAN

PALMERSTON NORTH

Tim Bray.

MAINFREIGHT AIR & OCEAN

WELLINGTON

Joshua Abel, Erle Betty,

Natalie Curley, Chrissy Douglas, Paul

Fredrickson, Anna Hastie, Kate Hoar, Briony

Larsen, Jeff Larsen, Robert Little, Scott

Matuschka, Sean Paterson, Glenn Perkinson,

Trevor Rice.

MAINFREIGHT AIR &

OCEAN WHANGAREI

Chris Carmichael.

MAINFREIGHT FTL NORTH ISLAND

Gavin Bowers, Ken Brown, Chris Collins, Marc

Collins, Paddy Didovich, Mason Howearth,

Ricky Ireland, Kevin Jackson, John Katu, Ray

Lutherus, Kyla McGregor-Kurth, Warren McKee,

John Mitchell, Chris Murphy, Karen Powell,

Ryan Rossiter, Ronesh Sharma, Gurpreet

Singh, Satinder Singh Pannu, Jamal Stent, Mike

Swindells, Sandy Teddy, Chris Tunnell, Darren

Turner.

MAINFREIGHT FTL

PALMERSTON NORTH

Mark Beckett,

Gordon Bell, Tony Biddle, Mark Casey, Bryan

Douglas, Uluaki Fangatua, Peter Flett, Leslie

Jackson, Paul Kremmer, Wendy Little, William

Mackie, Reuben Mason, Darrin Moeahu, Keri

Monk, Francis Phillips, Fredrick Phillips, Elvis

Rowlands, Daryl Stade, Peter Taylor, William

Tupara, Justin Wall, Julna Williams, Robert

Williams, John Winton.

MAINFREIGHT FTL

SOUTH ISLAND

Blair Bennett, Pete Bradley,

Brett Bramley, Trevor Bray, Tony Bremner,

Hayden Campbell, Malcolm Clough, Andrew

Gilmour, Tim Hitchings, Terry Hucklebridge,

Taylor Kitto, Glen Lloyd-Jones, Molly McPhail,

Lindsay Miller, George Mirfin, Sandeep Nafry,

Jamie Newall, Gavin Nichols, Rene

Niovara’Dave, Cobus Potgieter, James Price,

Rob Renwick, Hoani Rewha, Khamush Siskiefu,

Ray Webb, Rex Whittle, Neville Williams.

MAINFREIGHT IT NEW ZEALAND Gus

Ah-Chong, Tyrone Ah-Chong, Tansy Austin,

Nilesh Bhuthadia, Corban Borrie, Joshua

Burrow, Jo Cameron, Alice Colenbrander,

Jennine Cosgrave, Richard Daldy, Fraser

Dawson, Hannelore De Muynck, Kishan Dhanji,

Lawrence Dunn, John Eshuis, Mark Hales,

David Hall, Gary Harrington, Alistair Hughes,

Bharat Kesry, Logan Lim, Rhoda Malveda, John

McStay, Dineshan Naidoo, Ankit Narotam,

Gabriel Price, Ange Quedley, Raagni Sahay,

Rene Septimo, Dennis Shikhu, Dannielle

Steffany, Pateriki Te Pou, Glen Thompson,

Rachael Timmo, Maree Toa, Roger van

Dorsten, Peter Webster.

MAINFREIGHT

LOGISTICS AUCKLAND, HIGHBROOK


Jacob Cassidy, Patisolo Feo, Ben Hadley,

Gladys Iehu, Mo Khan, Kaleb Lockyer, Vivek

Sharma, Harcharan Singh, Lovepreet Singh,

Kim Sour Soy, Neil Theologidis, Maria Van der

Nagel.

MAINFREIGHT LOGISTICS

AUCKLAND, LANDING DRIVE Todd

Feng, Clarence Fuimaono, Arthur Hoeft, Satish

Ramaswamy, Luke Rudolph, Sikha Santawirya,

Kulwinder Singh, Adrian Tohovaka, Cody Watts.

MAINFREIGHT LOGISTICS

AUCKLAND, MAINFREIGHT LANE

Joel

Bennett, Laisene Emilio, Josh Horrell, Manpreet

Kaur, Sangeeta Lal, Allan Lowe, Cristina Lumby,

Colin McPherson, Albert Miratana, Erika

Mizusaki, Komal Nadan, Som Nuttamon,

Robert Papalaua, Patrick Patau, Tangapiri

Pokoina, Satish Prasad, Roshlene Raj, Hansell

Semeu, Hardeep Singh, Navdeep Sodhi,

Theresa Tahi, Ondre Tupou, John Valu, Dean

Walters, Leslie White.

MAINFREIGHT

LOGISTICS AUCKLAND, MANU

STREET

Charlotte Abbott, Tusi Alao, Stephen

Bucheler, Peter Clark, Varghese Devassy,

Natalia Fanene, Joseph Fulu, Dennis Ikenasio,

Swapnil Jose, Jonathan Judge, Gitesh Kishore,

Francis Lee, Hosea Maloni, Benjamin Mamapo,

Carlee Mcauley, Charlie Mccartin, Melvin Nair,

Megan Nel, Gary Nickson, Rajesh Patel, Ronald

Prasad, Siju Samuel, Jonathan Sellar, Harpreet

Singh, Nicholas Singh, Sukhraj Singh, Kim

Sipeli, Krystal Solomono, Alvin Swamy, Piesi

Tama, Corban Taylor, Hiria Tinirau, Andy Tongia,

Suitulaga Tupuiliu, Aleska Veljkovic, Prathapa

Wanasuriga.

MAINFREIGHT LOGISTICS

AUCKLAND, NEALES ROAD

Musa Aqeel, Alex Chen, Ryan Eyre, Jodie

Jackson, Harley Jacobs, Samuel Joe, Yosef

Kanon, Darius Mamea, Sam Petersen,

Harmanpreet Singh, Jarmanjit Singh, Nirmal

Singh, Parminder Singh, Rajwinder Singh, Rhys

Stunell, Alvin Vaisa, Ofa Vave.

MAINFREIGHT LOGISTICS

AUCKLAND, O’RORKE ROAD

Chaenala

Bennett, Paul Claydon, Kim Curtis, Marcio Da

Silva, Thomas Hopkin, Talia Ioasa, Fotu Mau,

Jacob Mcdowell, Patrick PatalesioJoshua Sika,

Amasaia Valu.

MAINFREIGHT LOGISTICS

AUCKLAND, SAVILL DRIVE

Jason Byun,

Simona Nelisi, Nick Smith, Daniel Sharma,

Khodie Tagoai. MAINFREIGHT

LOGISTICS AUCKLAND, WESTNEY

ROAD

Tony Amituanai, Zach Butler, Maika

Finau, Brandon-Lee Fonoimoa, James

Fuamatu, Ankur Ghuliani, Warren Hall, Travis

Hari, Alex Harris, Michael Healey, Salmaan

Hussein, Ioasa Ioasa, Sam Irving, Deborah

Jackson, Emma Jackson, Tau Kaho, Samuel

Kalauta, Shivachal Karan, Shafraz Khan, Salesh

Kishore, Levi Kite, Nicole Koen, Denis Kovalev,

Anit Kumar, Sonal Kumar, Abhinash Lal, Jin

Lee, Tim Logan, Simi Mareko, Daniel McGrath,

Ashwin Mohan, Ankush Nagole, Tangi Pekepo,

Graham Po Ching, Zane Polley, Jai Prasad,

Kelvin Prasad, Roneel Raj, Dallas Rawiri,

William Sabiston, Tony Sagaga, Nirmal Singh,

Palwinder Singh, Mulivai Televave, Bluee Unasa,

Mladan Yagmich.

MAINFREIGHT

LOGISTICS CHRISTCHURCH,

ISLINGTON

Craig Baird, Richard Blake, Olly

Bosworth, Jamie Custers, Carissa Leka, Lewis

McCoshim, Joshua Pavelka, Poasa Seiuli,

Caitlin Taiapo, Luke Trounson.

MAINFREIGHT LOGISTICS

CHRISTCHURCH, MCALPINE STREET

Wayne Busson, Joel Cowper, Richard Cowper,

Tim Donnelly, Diane Franks, Tanisha Haumu,

Jack Henshaw, Alice Ingham, Bernard Jagers,

Akshay Jindal, Andrew Kay, Geoff Lulham,

Hugh Lynch, Guy McMenamin, Sam Nielsen,

Tyler Pakau-Narayan, Aslyn Pennington, Brynley

Riches, Sue Riches, Mark Ritchie, Sandra

Ritchie, Jessica Rowe, Kristin Sadd-Peawini,

Anthony Sialeipata, Brayden Simkin, Kirk

Simpson, Harjit Singh, Lovepreet Singh,

Sarabpal Singh, Garth Sutton, Erika Tinomana,

Dean Williams, John Wolfrey, Robert Woods.

MAINFREIGHT LOGISTICS

CROMWELL

Clarke Hegan, Janal Johnston,

Jayden Kennedy, Sami Rutherford.

MAINFREIGHT LOGISTICS DUNEDIN

Geoff Baird, Martin Swann, Bruce Wilson.

MAINFREIGHT LOGISTICS HAMILTON

Adam Freguson, Phillip Koopu, Francis

Maxwell, Andre Paladin, Vaughn Sargent,

Tangaroa Taara, Ashleigh Tauai.

MAINFREIGHT LOGISTICS

WELLINGTON

Kayleigh Adrian, Te Rangi

Hata, Gregory Hunter, Christian Vaaulu,

Jonathan Zwart.

MAINFREIGHT METRO

AUCKLAND

Chrissy Adams, Akmal Ali,

Mustaq Ali, Viliami Aloua, Abdul Asheem,

Jatinder Bajwa, Zubin Bhathena, Anesh Amesh

Chand, Alisha Chauhan, Patrick Chong-Nee,

Etesa Cordtz, Thomas Curtis, Teiko Fonua,

Aoese Fruean, Karunesh Gounder, Nicole

Harris, Azad Hussain, Naushad Hussein,

Patrick Iese, Inderjit Jaswal, Lashman Jhim,

Ashwin Karan, Ashaf Khan, Nazim Khan, Zeyn

Khan, Alvin Kumar, Mahendra Kumar, Nishant

Kumar, Rahul Kumar, Ravneeth Rinesh Kumar,

Hirdeshwar Lal, Sautia Misa, Riaz Mohammed,

Mahendra Naicker, Davendra Naiker, Krishneel

Varun Prasad, John Raju, Devesh Ram, Saud

Ramadhan, Munendra Reddy, Vimal Reddy,

Liam Reidy, Nizal Saddik, Aman Sandu, Rakesh

Sen, Quentin Sinclair, Amandeep Singh,

Amritpreet Singh, Chamkaur Singh, Deepen

Singh, Dushkar Singh, Gurbir Singh, Gurlal

Singh, Hardeep Singh, Harmanpreet Singh,

Harry Singh, Kawaljeet Singh, Parnam Singh,

Yadwinder Singh, Tarwinder Singh Mann,

Gurinder Singh Parmar, Rajdeep Singh Powar,

Dilraj Singh Saddal, Gurpreet Singh Saddal,

Amanda Smith, Anmol Sodhi, Kunal Sodhi,

Diamond Tavita, Ropisone Toma, Sam Towes,

Laura Watson, Sam Wilkinson, Alex Witteveen.

MAINFREIGHT METRO

CHRISTCHURCH

Malcolm Baird, letisha

Bentley, Honey Bizarh, Andrew Chai, Dan

Chetty, Vince Cheung, John Cowlin, Craig

Cowper, Tarvinder Deol, Jatinder Dherput, Ian

Johnson, Corrie Kerkvliet, Brian Lewis, Jarad

Maioha, Feroze Mohammed, Hameed

Mohammed, Shantel Robertson,


Wayne Robertson, James Sansom, Grant

Sherlock, Darshan Singh, Inder Singh, Kamaal

Singh, Mandeep Singh, Manpreet Singh,

Narinder Singh, Pargat Singh, Simarjit Singh,

Kamen Whithington, Li Zheng, George Zuo.

MAINFREIGHT METRO WELLINGTON

Tama-Rangi Awatere, George Chapman-

Reynolds, Kayleigh Elliot, Clinton Garrity,

Marama Riddell, Graham Strang, Tecye Tevita,

Segaula Va, Julie Ward.

MAINFREIGHT

MOBILE

Michael Bing, Morgan Davis, Parapa

Fatamaka, Reyce Holes, Nishant Sharma,

Jagdeep Singh, Glen Symons, Clayton Tito.

MAINFREIGHT PORT OPERATIONS

AUCKLAND

Ross Allen, Carol Avard, Arron

Davis, Paulo De Souza, Balwant Dhaliwal, Rob

Dickinson, Alexander Fedorov, Gerald Goff,

Muni Gounder, Nicholas Gray, Michael Heera,

Adam Hohepa, Bryan Hohepa, Pryce

Howearth, Mohammed Khan, Rezin Leaunoa,

Mathew Maioha, Faizad Mohammed, Shakeel

Mohammed, Ravi Naidu, Dinah Ogabang,

Sarwan Padayachi, Avinesh Michael Prasad,

Simon Sahim, Harinder Sandhu, Shane Shafil,

Har Simran, Bhupinder Singh, Jasjot Singh,

Simapreet Singh, Sulinder Singh, Harmandeep

Singh-Gill, Puneet Singla, Tiffany Sio, George

Taiapo, Andrew Tautari, Thomas Te Pania.

MAINFREIGHT PORT OPERATIONS

CHRISTCHURCH

Sameh Awadalla, Renee

Barnes, Ray Bradcock, Dean Coates, Gurpreet

Dhillon, David Dickson, Adrian Ferguson,

Vaughan France, Tony Green, Michelle

Hodgkinson, Carolyn Kirby, Gary Sellars, John

Williamson.

MAINFREIGHT PORT

OPERATIONS WELLINGTON

Ken Harris,

Wayne Kilgour, Jeremy Rawiri, Tony Roberts,

Chris Sirota.

MAINFREIGHT 2HOME

AUCKLAND

Felise Ah-Chong, Jagroop

Chahal, Ratish Chand, Raghu Chhabra, Anna

Chihakova, Ella-Lee Cihak, Joseph Collins,

Jameson Comin, Cindy Crosbie, Darren

Cummins, Jonathan Davison, Mark De Hoog,

Kavita Devi, Alan Enslin, Tama Fasavalu,

Edward Freeman, Jeffrey Fuatogi, Malcolm

Holm, Tony Inia, William Iose, Joe Kawau, Sam

Key, Mohammed Khan, Jordan Lau’ese,

Amitesh Maharaj, Nukutawhiti Mano, Jared

Martinovich, Siosifa Ma’u, Zain Mohammed,

Ben Monro, Michael Munns, Liam Murray, Jared

Nuku, Jacqui O’Connor, Peter Park, Dhiren

Patel, Jeremy Patterson, Arun Paul, Kani

Peneueta, Deben Raut, Abdul Rehman, Andre

Russ-Kite, Joshua Savea, Justin Scrivener,

Dharminder Singh, Gurpreet Singh, Harpreet

Singh, Harpreet Singh, Manjit Singh, Paramjeet

Singh, Ranvir Singh, Ravinder Pal Singh, , Dion

Solomona, Lisa Tagoai, Israel Talakai, Allan

Tango, Te Rangi Tongia, Arthur Tusa, Joe Veve,

Ioane Viliamu, Bianca Vuetibau, Peter Wallis,

Jeremy Wells, Sheree Whitehead, Greg Wong,

Kai Yao.

MAINFREIGHT 2HOME

CHRISTCHURCH

Michael Baker, Ryan

Berry, Chris Bramley, Grant Brinsdon, Stu

Campbell, Ben Carlisle Reeve, Timothy Challis,

Greg Cooper, Ihaia Cox-Winiata, Tony

Cummings, Alex Dawson, Tom Dawson, Daniel

Diamond, Mansell Diamond, Rob Duffy, Tracy

Hapi, Cameron Hay, Robert Hayes, Elijah

Hosking, Jaysin Hurrell, Jahran Katene, Richard

Kotlowski, Katie Newsome, Chelsea O’Connor,

Wayne Pahl, Braydon Parrett, Luke Percasky,

Rob Poasa, Morgan Rangi, Richie Richmond,

Earl Ritani, Nicky Scott, Jared Sherwin, Khamus

Sisikefu, Xavier Te Wano, Lance Warren, Henry

Whyte, Cody Williams, Ben Wright, John

Wright.

MAINFREIGHT 2HOME

WELLINGTON

Mark Brown, Deepak

Dadrah, Frank De Jong, Nathan De Jong,

Charles Simpson, Christine Strang.

OWENS

AUCKLAND

Aldre Aborro, Mohammed

Ahmad, Frank Aholelei, Azhar Ali, Ilaeiseh

Aumau, Manjinder Bhathal, Sheik Bobby Dean,

Godfrey Wynyard Brown, Michael Brown, Samil

Chand, Shirron Clarke, Aisea Cokula, Daiana

Cokula, Tiwihou Cope, Murray Craig, Benjamin

Cross, Jope Dawaqa, Nicole De Gala, Leanne

Drube, Faustina Faaolo, Tema Faifua, George

Francis, Jeremon Galiki, Sefulu Gaugau,

Andrew Gibson, Michael Goodwin, David Heka,

Dominic Hunt, Keegan Ashdown Inia, Eun Sik

Joo, Elaine Kaliopasi, Ramandeep Kansray,

Telea Kasipale, Voou Katuke, Robert Kealey,

Arfan Khan, Anish Kumar, Ashika Kumar, Nitesh

Kumar, Ravin Kumar, Salesh Kumar, Remesio

Lala, Neelam Lata, Joshua Leef, Aliana Likio,

Tino Liufau Pio, Rebekah Lopau, Emma Lowry,

Teremoana Loza, Samuel Lythe, Julie-Anne

Madden, Lloyd Mahara, Pravin Maharaj,


Savi Maharaj, Joylene Malofie, Christian

Marsters, Upoko Maruariki-Taoro, Mike

Masters, Macayla Masters-Clarke, Jackie Mein,

Gabriel Moore, Ali Mumtaz, Damien Murray,

David Murray, Viveet Nadan, Leena Nand,

Kartick Narayan, Junior Nathan, Salvation Nua,

Rayneil Pal, John Palelei, Jayantkumar Patel,

William Pickering, Christopher Pikering,

Gurpreet Pooni, Brooke Pope, Shavneel

Prakash, Vinal Prasad, Kelevi Qalilawa, Vinit

Raj, Nileshni Rattan, Blaze Renata, Davante

Renata-Leaf, Gerrard Robinson, Sukhi Samra,

Ali Schustor, Jiofiliti Selebula, Mez Sethna,

Sanesh Sewak, Sachin Sharma, Salendra

Sharma, Vinnie Sharma, Dalbir Singh, Davinder

Singh, Gagandeep Singh, Gurdev Singh,

Jatinder Singh, Kamaljeet Singh, Khushveer

Singh, Kuldeep Singh, Nawal Singh, Niraj

Singh, Prabhjit Singh, Raj Singh, Ritesh Singh,

Sukhpreet Singh, Tejinder Singh, Gurbaj Singh

Gill, Nicola Skinner, Andrew Smith, Archie

Stephens, Oliver Stevens, Robert Stevens,

Junior Stowers, Nathaniel Swney, Maleli

Tabualailai, Alisha Tairakena, Shayne Tall,

Joseph Tatafu, Fuataina Tauofaga, Andrew

Tautari, Tamatoa Tepaea, Adam Tieng, Uluka

Lala Toki, Dibley Tokimua, Peter Topia, Siaosi

Tuanai, Paongo Tulimaiau, Mark Upokomanu,

Tevita Veaila, Billy Vesth, Kathryn Wilson, Candy

Worden.

OWENS CHRISTCHURCH Louis

Arthur-Worsop, Keith Bedard, Rachael Bedard,

Ashleigh Burnham, Matthew Carlaw, Phil Dawe,

Callum Field, Scott Finlayson, James Foster,

Mandeep Gill, Janine Gordon, Kris Hickey,

Kevin Huang, Deane Hunt, Alice Kavet, Keith

Kenyon, John Kerr, Robert King, Matthew

Kitchin, Shubham Kumar, Marshneel Lal, Jason

Lapsley, Yupeng Ma, Tony Martin, Lindsay

McKewen, Alan Morgan, Guy Murgatroyd,

McGee Nimmo, Xin Ning, Ricky Niu, Elizabeth

Prentice, Thomas Rudin, Graham Ryan, Jimmy

Shearman, Jennifer Sheppard, Manpreet Singh,

Narender Singh, Sam Singh, Inderjeet Sran,

Kareena Sullivan, Marty Sun, Le Tan, Allen Tian,

Rowan Traue, Holly Turnbull, Regan Wagstaff,

James Whittle, Hayden Williams, Ryan

Woodham-Jury, Haobo Xu.

OWENS

HAMILTON

Lindsay Meredith. OWENS

WELLINGTON

Ala Aiono, Sally Bryant, Kate

Hoar, Tracey Hoare, Alby Mahuika, Allen

Marchant, Cambridge Moore, Toi Morehu,

Harminder Singh, Johan Soeteman.

OWENS

LOGISTICS AUCKLAND

Konelio Leone,

Anthony Levao, Jodi McLaren, Milka Sagi,

Andrew Sesani, Maninder Singh, David Stein,

Mateo Tino, Gemma Walker.

OWENS

LOGISTICS CHRISTCHURCH

Skye

Bogle-Cracknell, Grant Breach, Isaac Breach,

Melissa Butland, Emily Fowler, Rebecca

Hayward, Chunguang Hu, Andrew Maxwell,

Richard Owen, Ivan Peek, Andrew Proctor, Jim

Rabuku, Andrew Salmon, Sophia Shaw, Nikita

Swarts.

OWENS TANKERS Andrew

Calvert, Maurice Clarke, Joe Curtis, Tom Davis,

Jock Dixon, Joseph Faleapa, Sudhir Kant, Brian

Keogh, Pera Maxine, Reza Motadeli, Guy Small,

Marilyn Syms.

TRAINING TEAM

NEW ZEALAND

Donna Barrett, Charlotte

Carpenter, Charlotte Colson, Rochelle Coster,

Karla Crawford, Erica Dash, Trace Donaghey,

Gary Dyason, Rachel Hustler, Lizzie Judd, Kirsty

Michell, Chris Vaiangina, Alexia van der Zanden,

Ryan Wong.

Australia

CAROTRANS BRISBANE

Antonio Agpalza, Christopher Bamford, Anna

Slater, Grace Stewart, Peter Tombling.

CAROTRANS MELBOURNE Sindy

Bartlett, Debra Carr, Jade Carter, Paula DiBella,

Alexander Jones, Kloe Jordan-Wilson, Andrew

Petersen, Brianna Pisasale, Jacinta Polzella,

Nadia Rimene.

CAROTRANS SYDNEY

Adam Coffee, Jasmin Cvijanovic, Tiana Hamlin,

Tony Naumoff, Abubaker Samadi, Diana Scott,

James Warren, Kate Winterburn, Karam Zebib.

CAROTRANS TASMANIA Melanie Hill.

CHEMCOURIERS BRISBANE Claude

Andrasescu, Steven Beaumont, Troy Blacklock,

Olivia Goldsack, Jacinta Gremond, Mujtaba

Hussain, Kevin James, Amanda Johnston,

Garry Kennedy, Pankaj Kumar, Briannah

McGregor, Samuel Modra, Amanda Nugent,

Legan Nyabenda, Chris Powell, Ranvir Singh,

Surinder Singh, Tarsem Singh Sandhu, Tere

Webb.

CHEMCOURIERS MELBOURNE

Marli Adendorff, Brian Aspinall, Mehdi Bahrami,

David Carswell, Matthew Cartledge, Ethan

Coates, Lucas Columbro, Kevin Dicker,

AU

Guo-Qiang Dong, Lucas Giles, Goran Grbic, Le
Hoe, Shayam Jayasuriya, Scott Jones, Jason

Kennedy, Lyly Lai, Henry Lam, Monique Latorre,

Caleb Lewis, Hanna Matthews, Marcel Maunsell,

Katrina Miller, Shertim Muratovski, Radmilo Nedic,

Hoai (Victor) Nguyen, Huy Nguyen, Sang Nguyen,

Maddison Rae, Terry Rawiri, Lauren Ross, Cameron

Russo, Satpal Singh Sandhu, Anna Smith, Turoa

Tipene, Dillon Trew, Duong Trung, Lanh Truong,

Isaac Tufuga, Jake Walter, Jordan Wharton.


CHEMCOURIERS SYDNEY

Bilall Ajaj, Sam Ale,

Ridhwaan Ali, Riyaz Ali, Liam Bainbridge, Elie

Boulos, Matthew Brown, Naman Chand, Reigan

Crosby, Blake Curran, Joeffrey Frias, Caleb Fungo,

Cebbar Gergoy, William Hamdi, Liam Hastings,

Matthew Ishak, Aoife Keane, Mohammed (Kash)

Khan, Andrew Kyei, Aakash Mankotia, Robert

Meredith, Timothy Meredith, Dylan Ngov, Kelela

Pasina, Natasha Perese, Faimai Pisu, Motiana Pisu,

Daniel Ross, Robert Saimasi-Robertson, Elvis

Sehovic, Mark Shabow, Kamal Shanmuganathan,

Peter Smith, Mark Taai, Terry Tallar, T-Jay Tallar,

Antoinette Te Runa, Lokomaikaiokalani Vaisagote,

Stanley Vaka, Gary Vongphakdy, William Wang.

MAINFREIGHT ADELAIDE Nicholas Adams,

Kendall Anderson, Cherie Aunger, Dillon Bampton,

Jason Borg, Shane Borg, James Brook, Alfredo

Cammarano, Christopher Cammarano, Pauline

Cammarano, Amanjot Cheema, Trevor Clayson,

Jae Cook, Danyl Drabsch, Jesse Ebert-Hudson,

Luke Farrugia, Lee Ford-Griffiths, Arthur Gentle,

Shane Gnitecki, Michael Goldfinch, Shanon

Govindan, Patrice Hall, Michelle Hanson, Otniel

Iordachi, Daniel Irimie, Robert Jones, Jody Knight,

Warren Logan, Napinder Mann, Kyton Marsland,

Liam Miller, Deborah Moore, Lauren Neldner,

Emma O’Dea, Genevieve Pearce, Lee-Anne

Phillips, Stephen Phillips, Matthew Rak, Joanne

Reimann, Mark Richter, Lynne Rooney, Sandeep

Saini, Thomas Scholtus, Garry Semmler, Mitch

Simons, Brayden Simpson, Gurpreet Singh, Harjit

Singh, Vajinderpal Singh, Joginder Singh Gill, Jack

Star, Tracy Stefanopoulos, Justin Stoyanoff, Stefan

Stoyanoff, Tom Stoyanoff, Andrew Tait, Steve

Thorpe, Aaron Ward.

MAINFREIGHT ALBURY

Vishu Arora, Jason Ellingham, Bradley Foy, Michelle

Foye, Theo Fraser, Tori Graham, Joshua Green,

Ashley Hemopo, Kym Hullick, Matthew King, Luke

McCluskey, Craig Perry, Michael Pryor, Amrinder

Singh, Manjot Singh, Riki Tipene.

MAINFREIGHT

BALLARAT

Suzen Inglis, Iupita Lotoaso, Anthony

Marinus, Vanessa Maxwell, Scott Nunan, Andrew

Sporne. MAINFREIGHT BENDIGO Claude

Ayrton, Jeremy Dettmann, Spedding Graham,

Micheal Lawry, Shane Mataiti, Benjamin Norris, Lidia

Tonkin.

MAINFREIGHT BRISBANE Ali Abdur,

Indira Abrahams, Tommy Ah Wong, Mohammed

Ali, Lauren Alley, Amanda Aplin, Sorcha Barnes,

Kirsten Bishop, Steven Blackmoore, Aaron Bourke,

Patterson Callum, Tara Carnegie, Ritesh Chand,

Erika Chee, John Cohen, Courtney Collier,

Cassandra Collins, Timothy De Beer, Greg De

Lautour, Ruth De Lautour, Ward Elliot, Roy Faifai,

Natasha Fraser, Deanne Gage, Lucas Goldblatt,

Shari Groves, Kris Gyorky, Angelina Harper, Stacey

Heard, John Holpen, Chase Inia, Christian Ionut

Istrate, Vikram Jit, Anthony Johnson, Steve

Jovanovic, Amanda Karipa, Dallas Keevers,

Andrew Kelly, Bhupinder Kharaud, Jayson King,

Joseph King, Linda King, Taras Krasii, Sharvin

Kumar, Sunil Kumar, Bradley Lahey, Daniel Lahey,

Thomas Lennon, Constantine Leota-Tui, Jason

Levy, Nikki Lindsay, Amanda Linfoot, Jamie Lovell,

Ezekiel Makowharemahihi, Natu Manao, Harrison

Martin, Shaun Martin, Andrea Mason, Samuel

Massey, Nathan McDonald, Bradley McGrath,

William Meaclem, Joshua Meads, Brandon Metai,

Brendon Minett, Mathew Mobin, Darius Moldovan,

Rodolfo Morales-Diaz, Michael Murray, Khalid

Naved, Zoltan Neer, Michael Niesler, Bradley Ogier,

William Pani, Ian Patterson, Nicholas Pell, Tod

Poole, Ashleigh Santoso, Amber Scott, Ashleigh

Scullion-Gilpin, Kyle Shales, Quinn Sherriff,

Jonathon Silver, Ramandeep Singh, Sebastian

Smith, Todd Smith, Zac Speedy, Liesel Stevens,

Sydney Stevenson, Charles Sutcliffe, Stephen Te

Hau, Sunil Thakkar, Katie Thompson, Pologa

Tuafafo, Jay Tuautu, Vesi Tuautu, Ivan Turangakino,

Steve Turner, Peter Underwood, Terence Utai, Uhila

Vakameilalo, Akos Varga, Fursland Wayne, Kevin

Whitty, Emma Wiersma, Robert Williams, Byran

Wong, Chelsea Young.

MAINFREIGHT

BUNBURY

Laurent De Robillard.

MAINFREIGHT CANBERRA

Jahmal Batchelor,

Reegan Batchelor, Leonie Blundell, Steven Edwards,

Kai Ehlers, P’Trece Jones, Nathan Medhurst,

Andrew Pearson, Avtar Singh, Harry Singh, Liam

Thompson, Nicola Thompson, Antonio Vailoaloa,

Kieran Wickham.

MAINFREIGHT GEELONG

Haris Akram, Padraic Bourke, Cheryl Dean,

April Farver, Ranjan Grewal, John Melvin, John

Seaver, Jaswinder Singh Baidwan, Evan Wailes.

MAINFREIGHT GOLD COAST James Brown,

Reece Cassidy, Rosemary Cross, Deon Jackson,

Mark Jackson, Michael Jones, Glenn Manewell, Joel

Nikeller, Crystal Obst, Chris Were, Maraea

Wharemate.

MAINFREIGHT MELBOURNE

(CLAYTON)

Nicole Adendorff, Vijay Ahluwalia,

Cameron Aldridge, Nelson Aravjo, Jenny-Maree

Armel, Kanwalpreet Atwal, Kristian Barfuss, Allan

Blair, Nirmal Brar Singh, Craig Britto, Caleb Brodrick,

Brigitte Brown, Aaron Campbell, Vince Cecil-Daniel,

Rechner Chas, Bin Jing Chen, Steve Cooper, Sonani

Cramer, Aaron Croft, Peter Daly, Andrea D’Cruz, Kim

Devine, Jatinder Dharni, Chithrinee Ekanayake,

Jared Ekkel, Mirjana Fifita, Mafutaga Galuvao,

Anthony Garland, Anthony Giannopoulos, Semi

Godinet, Jason Govaars, Ross Grace, Jordyn

Green, Callum Greig, Peter Grindal, Brayden

Hackling, Travis Hackling, Natalie Hammond,

Douglas Hartwick, Ali (Reza) Hassani, Anthony

Hawkins, Jamie Haysom, Faye Henderson, Zachary

High, Thuyet Ho, Dane Hoffner, Jake Howell, Sadaat

Hussain, Sureshreddy Indurthi, Jesse Jansz, Jack

Kanakaris, Cory Kapetanakos, Benjamin Keane, Miki

Kolek, Michael Kuzmanovski, Raymond Lal, Daniel

Lamblin, Samnang Lay, Eugene Leong, Madeleine

Lynch, Mike Mai, Andrew Mase, Scott McGill, Huy

Minh Vu, Albi Mino, Benny Moser, Muamer

Muratovski, Shenol Muratovski, Surender

Nagulapally, Krishna Naidu, Rowan Nayna, Nhiem

Ngo, Vu Ngo, Ken Nguyen, Tien Nguyen, Tony

Nguyen, Mitchell Nolan, Miroljub Orbadovic, Osman

Osman, Luke Pavey, Emma Pedler, Ray Pepper,

Hung Pham, Paul Pipilakis, Sukhdeep Rangi,

Malcolm Reynolds, Siobhan Riordan, Megan-Anne

Rose, Elmedina Sadinlija, Trevor Scharenguivel,

Amandeep Sharma, Avinder Singh, Baljit Singh,

Barinder Singh, Darshdeep Singh, Davinder Singh,

Khusdeep Singh, Ravinder Singh, Rupinder Singh,

Apinder Singh Jawanda, Sandeep Singh Kherha,

Chloe Smith, Xavier Smith, Craig Steer, Rodney

Stuart, Hanh Hq Ta, Rebecca Taylor, Duc Truong,

Han Truong, Van Be Truyen, Sanele Utupo, Sitiveni

Vakacavu, Nicholas Van Dijk, Ruben Vetaukula,

Joseph Vibal, Tommy Vo, Srdan Vukovic, Jennifer

Wanigasekera, Stacey Wells, Sonny Wendt, Andrew

Weymouth, Willie Wharewera, Alphonso Williams,

Helen Williams, Harrison Wright, Steve Wright.

MAINFREIGHT MELBOURNE (EPPING)

George Abernethy, Marola Amin, Linfield Anitipa,

Paul Anitipa, Rajvinder Bains, Fadia Barkho, Lochlan

Barlow, Aladin Basic, Yousef Bastani, Amanda Borg,

Clement Boydell, Corey Braid, Mitch Bryan, Amiee

Chambers, Nimitra Chandran, David Ciardullo,

Jeremy Collins, Tomas Condon, Stephanie Conduit,

Bryan Curtis, Grant Draper, Josephine Fava, Soteria

Folaumoeloa, Bill Fraser, Anthony Galea, Brice

Giacomantonio, Zack Gligurovski, Bradley Greer,

Luke Grimes, Amy Habermann, Connor Harper,

Wayne Harris, Simon Hart, Edmila Hebel, Katherine

Hicks, Kathleen Hill, Tanya Hillier, Tohidul Hoque,

Shengdong Huang, Wisam Ibrahim, Janberk Ilhan,

Beniamina Inatoti, Harrison Irvine, Waael Jallo, Leah

Jones, Mele Kaliopasi, Troy Kirwan, Deepak Kumar,

Chung-Hsuan Kuo, Violeta Kuzmanoski, Dianne La

Velle, Kam Lee, Brandon Lemalu, Christopher

Lindroos, John Lloyd, Micahel Mackenzie, Cameron

MacLean, Paul Mahfoud, Brok Maihi-Taniora, Amjad

Majeed, Tarun Markapuram Shivaprakash, Rhonda

Marroun, Andrew Marshall, Mercedesz Matskassy,

Nicholas Matthews, Nicole Merrigan, Natasha

Meyer, Lewis Moore, Rodd Morgan, Edward

Mulvenna, Keryse Munro, Morgan Munro, Tosko

Nastevski, Ainsley Newson, Taila Oosterhof,

Alexander Overmars, Amrinder Pannu, Dimitra

Paterakis, Nicholas Payne, Edward Pearson, Hai

Pham, Mark Phelan, Sammy Phommachanh,

Andrew Plonsker, Joanne Polley, Luisa Pouono,

Christina Rebesco, Aaron Rivett, Graham Robinson,

Sian Rogers, Leasa Rowley, Sharma Rupesh,

Brendan Ryan, David Scott, Funda Sener, Rupesh

Sharma, Jesse-Jaymes Simmonds, Amarpreet

Singh, Angrej Singh, Devender Singh, Gary Singh,

Gurpreet (Raj) Singh, Harjap Singh, Harpreet Singh,

Jagpreet Singh, Jaspal Singh, Jazz Singh, Sukchain

Singh, Vikramjit Singh, Mandeep Singh Brar,

Gagandeep Singh Mangat, Parmjeet Singh Verma,

Gagandeep Singh Virk, Tayla Stankovski, Lukas

Steel, Maryann Stellini, Natasha Stojkovska, Martin

Stronge, Paula Suwart, Janaya Symons, John

Tapuala-Unasa, Victoria Thermos, Rawiri Thompson,

Tinika Tipene, Natalie Trajkovski, Bransislav Trifkovic,

Thanh Phong Truong, Lilly-Regina Vaisa, Aline Van

Buiten, Riley Van Buiten, Jake Van Meel, Justin

Velevski, Gabriella Vlasblom, Leigh Vlasblom,

Richard Vlasblom, Sander Vreeburg, Massey Wade,

Joyce Wain, Joe Wakefield, Georgia Warner,


Ford Watene, Kelly-Jo Wells, Jaya Wirawan, Jessica

Young, Jordan Young.

MAINFREIGHT NEWCASTLE Beau Baglin,

Jacqueline Braeuning, Kristen Cameron, Tony

Cross, Brett Cullinan, Damien Denning, Tom

Enderby, Ebony Fisher, Jessica Govan, Jim Heins,

Kaiden Hudson, Dylan Johnson, Ian Macpherson,

Matthew Madden, Joseph Maynard, Matthew

McCallum, Alana McCarten, Taiya Miller, Tanya

Milne, Michael Parkinson, Alyssa Pilgrim, Scott Pratt,

Byron Price, Steve Renton, Scott Shea, Timothy

Sinclair, Stephen Smith, Brooke Walklate, Cameron

Williams, Douglas Williamson, Jason Willoughby,

Brad Yuile.

MAINFREIGHT PERTH Mustafa Al

Bunajim, Muchsin Alaydrus, Mark Alberts, Sarah

Battaglia, Shaun Birmingham, Christopher

Brookshaw, Ayden Brown, Stephen Bull, David

Burton, Shaun Davy, Michael DiMaggio, Raquel

DiMaggio, Sinan Fazlilar, Jeffrey Field, Jesse

Galende, Paul Gibson, Rob Glerum, Jesse

Gray-Morgan, Anthony Greg, David Gurney, Renato

Hadziavdic, Daniel Harvey, Robert Hawksworth,

Graham Herd, John Hope, Valerie Jeisman, Sarah

John, Gene Johnson, David Kake, John Keen, Bjorn

Kelly, Jaskarn Khanghura, Jaswant Kharoud,

Pardeep Kumar, Theunis Lemmer, Rajesh Lohan,

Ethan Martell, Nikki Maru, Todd McCabe, Raymond

Mccagh, Susanne Meechan, Bailey Mitchell, George

Moore, Patrick O’Shea, James Paekau, Malcolm

Papa, Yianni Papaliaris, Madison Parker, Singh

Sandhu Ravipreet, Amelia Richardson, Robert Rix,

Annette Roberts, Damian Schoppe, Harmandeep

Singh, Jaswinder Singh, Jatinder Singh, Gurpreet

Singh Gill, Amandeep Singh Sandhu, Pushpinder

Singh Sandhu, Curtis Spencer, Christine Sutherland,

Simon Tasker, Kevin Tilaka, Graeme Tilley, Cameron

Townsend, Paul Van Dam, Sheldon Vincent, Huy Vu,

Peter Webb, Hamish Williams, Daria Yuldasheva.

MAINFREIGHT SUNSHINE COAST Jessica

Cuming, Elizabeth Purdom, Mark Thomas.

MAINFREIGHT SYDNEY Mitchell Ahrens,

Rogaya Alexander, Ramy Al-Haider, Fadi Al-Mallou,

Renney Ama, Sharon Ama, Mohammed Aruf, Guy

Assanti, Todd Austin, Jackson Bartlett, Zachariah

Beltran, Mohammed Beydoun, Laura Blazic, Belinda

Bright, Laisenia Burewe, Armani Busby,

Talmage-Jade Busby, Shenaye Campbell, Avinesh

Chand, Ronald Chand, Raelene Codd, Ashleigh

Collins, Amy Connelly, Kim Corpin, Jessica Currey,

Daniel Curtis, Samantha Daley, James Darby,

Charisse De Abreu, Andres De La Paz, Mike Deli,

Navdeep Deogun, Domenico Di Bartolo, Pamela

Dilucchio, Alan Ebadi, Mathew Edwards, Danny

Ellyard, Naseri Faifua, Hilal Fawaz, Moh Fawaz,

Russell Fender, Amelia Fifita, Kooper Fiseris, Kristen

Flood, Asipeli Fotofili, Anthony Franco, Duraed

Gabrail, Jason Gerondis, Tayfun Gezer, Imran

Goraya, Vishnu Gounder, Reza Hamazaehlouei,

Namal Hamid, Thomas Han, Shardey Hancy,

Geoffrey Heard, Tereapii-O-Maao Henry, Rosario

Herbereau De La Chaise, Kingi Hoskin, Tony

Howard, Declan Jackson-Harris, Kathryne James,

Natalie James, Samuel Jenkins, Lolomanaia Kakala,

Sarah Kimmings, Zed Komsic, Nishi Kothari,

Sachindra Krishnan, Rajaratnam Kuganathan, Holly

Licciardo, Jonathan Lualhati, Surendra Madala,

Akanesi Magele, Ahmed Malik, Loseli Manu, Mark

Mariano, Patrick Masaisomug, Joshua Masih, Aaron

Matesa, Michael McIvor, Danielle McNeil, Kathleen

Mena, John Michael, Philip Millikin, Daneile Moana,

Susan Morrow, Magele Muaulu, Solomone Naa,

Avinesh Naidu, Niraj Navin, Tai Ngaau, Quoc

Nguyen, Quoc Tai Nguyen, Tan Nguyen, Vanessa

O’Neill, Pece Paceskoski, Suza Paceskoski,

Shereen Padiachi, Cindy Page, Sunil Panchani,

Junior Papalii, Vinay Rajendrakumar Patel, Steven

Pavitt, Bill Perese, Oliver Petrovski, Thomas Pham,

Christopher Phelan, Scott Phillips, Lisa Profilio,

Iosefa Pule, Michelle Purvis, Donald Ram, Pawan

Rathnayake, Debbie Rawiri, Reti Reed, Jimmy

Ristevski, Adam Robey, Anthony Robinson, Channa

Rodrigo, Rafael Rueda, Saipele Salelesi, Tagi’ilima

Salelesi, Shiu Sambhu, Jody Savage, Strantz

Schaumkel, Jessica Schuck, Tony Segar, Mirsad

Serifovic, William Shea, Joshua Siddle, Ismael

Silvera, Chandresh-Bobby Singh, Gurvinder Singh,

Pranit Singh, Randhir Singh, Satbir Singh, Tyreece

Siofele, Nino Sioufi, Tyrus Sita, Alan Spackman,

Stefano Tahi, Rangimarie Takiari, Nicolaos Tourgelis,

Jade Towle, Anthony-Minh Tran, Zoran Trenkoski,

Umit Tuncdoruk, Filipine Vave, Sione Vave, Bruno

Vidigal, Mark Vincent, Denise Vitellaro, Ratu Vuibau,

Vikrant Wadhwa, Mary Wall, Tershel Watene, Peter

Wilson, Reginald Woonton, Robert Young, Angus

Zammit, Belinda Zantides.

MAINFREIGHT

TASMANIA

Gary Ritchie. MAINFREIGHT

TOOWOOMBA

Aaron Fuery, Michael

Heironymus, James Podlich, Adam Willcocks,

Alexey Yagudin.

MAINFREIGHT

TOWNSVILLE

Steven Ace, Marla Costabeber,

Jeffrey Gilbert, Jack Grimwood, Michael Koeman,

Tierre Mallinson, Kathrine Wernerson, Scott Wilton.

MAINFREIGHT AIR & OCEAN ADELAIDE

Hayley Barnes, Gary Birmingham, Hayley Collins,

Jaimie Collyer, Joseph Covino, Jodie Dirksen,

Jessica Hautop, Adrian Logan, Bianca Newbery, Thi

Ong, Caroline Pitman, Lisa Raimondo, Kanesh

Sivashankar, Alysha Wreford.

MAINFREIGHT

AIR & OCEAN BRISBANE

Caitlin Anderson,

Stephen Anderson, Elizabeth Arguello, Kathryn

Bailey, Monicque Bamford, Saskia Bemelman,

Callum Bruce, Grant Carlson, Erin Carmock, Damien

Cridland, Camila Del Passo Brandao, Abbi Dilena,

Catherine Gillick, Bailey Gooding, Myroslava

Gopanchuk, Shaikh Haider, David Hall, Adam

Horne, Amy Kelly, Karen King, Christopher

Meacham, Naia Morais, Sara Payne, Daniel Petek,

Madison Pfuhl, Mehau Phillip, Rosina Poa, Jessica

Pursey, Chantelle Stiege, Mitchell Stint, Monty

Sullivan, James Timoney, Lisa Turner, Ogi

Vuksanovic, Rebecca Vuksanovic, KaMing Wong.

MAINFREIGHT AIR & OCEAN

PERISHABLES BRIBANE

James Blok, Drew

Bowler, Tiarna Burns, Zachariah Collins, Seamus

Cunningham, Mitchell Fontalvo, Alex Jenkins,

Deanne Kramer, Patrick Morrey, Michael Poa,

Andrew Ramsden, Melanie Sheppard, Stephen

Simpson, Ian Thomas.

MAINFREIGHT AIR &

OCEAN GOLD COAST

Samuel Cooper, Renee

Duemmer, Jade Fogwell.

MAINFREIGHT AIR &

OCEAN MELBOURNE

Gary Atkins, Daisy

Attard, Melissa Bartlett, William Brown, Laura

Burns, Taylor Burns, Monica Cahill, Tony Capuano,

Ksenia Chudak, Darren Ciantar, Kerry Cogan,

Chrysanthe Coles, Lisa Colombo, Blair Cooper,

Dave Coughlin, Daniela Dimitrijovska, Dorian Do,

Thu Do, Susi Dombrzalski, Elizabeth Fellows,

William Fellows, Shalini Fernando, Damien Ferris,

Shania Finnigan, Louise Gallardo, Fiona Goodwin,

Rachel Grover, Clancy Hall, Nicole Hegeman,

Hamish Hill, Bronte Houston, Sean Hutchinson,

Aneta Jankovski, Balwinder Kaur, Melissa Kelly,

Carolyn King, Megan Kirkman, Damien Kozelj,

Franciscus Kranen, Mandy Lazaridis, Nicole Levey,

Jing Liao, Jason Lister, Lee Liu, Jenny Ly, Rosaria

Marra, Sarah Martin, Tayla McHale, Julia McMillan,

Roslyn Meli, Kosta Mihos, Amanda Millington,

Michael Mortimer, Pam Moussiades, Matthew

Mudge, Janine Nemeth, Lingna Ngo, Luise

Ockardt, Charissa Ong, Sasa Opacic, Melissa

Packett, Kristian Phillips, Vincent Pirozzi, Natalie

Poloni, Tahlia Prestia, James Ryan, Junsik Shin,

Timothy Smith, Jason Spiteri, Georgia Strada,

Chloe Straughair, Xiaoxia Sun, Brittany Taylor,

Travis Thorogood, Cynan Tomsen, Diem Tran,

Rebecca Tsiros, Daniella Verlaque, Connie Vinci,

Yizhao Wang, Joanne Warway, Rosanna Wojcik,

Paige Woodhouse, Vincent Woolfe, Bernie Xu, Jie

Zhen.

MAINFREIGHT AIR & OCEAN

PERISHABLES MELBOURNE

Khled Abbas,

April Ali, Christopher Barnes, Vincent Caruso,

Megan Cooper, Ryan Darmanin, Houssein Dekmak,

Travis Dellar, Adam Downing, Mykhaylo Dyachkov,

Mario Farrugia, Sattambiralalage Fernando, Angelina

Fernandopulle, Dale Foote, Vincent Fu, Benjamin

Green, David Grossman, Riley Hemburrow,

Julie-Anne Jordan, Lisa Jordan, Svetlana Kasyanov,

Rajini Kumari, Jordyn Luke, Shane Moroney, Beau

O’Connell, Tom Redmond, James Riego, Melanie

Savona, Anthony Schembri, Paolina Tortora, Travis

Wadden, Oxana Zherebtsova.

MAINFREIGHT

AIR & OCEAN NEWCASTLE

Belinda Bremner,

Luke Chance, Ruby Ho.

MAINFREIGHT AIR &

OCEAN PERTH

Alessandra Divina, Savannah

Dsouza, Alec Fontalvo, Loganayagie Govender,

Bianca Harris, Adam Hawiley, Stepan Kolarik,

Melissa Lowe, Misha Mandalia, Jocelyn McCagh,

James McCrone, Jueyu Peng, Claudia Ramirez

Suazo, Aaron Read, Jennifer Reid, Monica Romero

Arbizu, Stefanie Schroeder, Rupesh Sethuram, Jian

Tan, Stacey Turner, Yokke Verbert, Joel Ward,

Bronwyn Wassell.

MAINFREIGHT AIR &

OCEAN SYDNEY

Lee Amour, Amber Bailey,

Melissa Bakouris, Elisa Bonica, Skye Budd,

Juan-Diego Cabada-DeSouza, Vanessa Carangelo,

Julie Costopoulos, James Davies, Julie Deang,

Annelien Deceuninck, Janina Diroy-Smith, Erika

Dudley, Paul Enriquez, Aiden Erlik, Alla Ermoliev,

Justin Evans, Salvatore Forzisi, Fidia Ghazi, Tyne

Green, James Hartigan, Kathleen Hoglund, Seok

Hong, Vanessa Jaconelli, Mengxue Ji, Blake Kelly,

Bianca Kraljevic, Jayda Leaf, Julie Lee, Kin Li,

Yanhua Li, Jacky Liang, Kaiju Liu, Shaoji Liu, Carol

Ma, Jimmy Ma, Cassandra Mangan, Joanne Mani,

Jessica Molyneux, Joumana Nasr, Natalie

Nikolovski, Kayla Phuyal, Liong Purna, Margaret

Reynolds, Sofia Rida, James Robertson,


Rebecca Sears, Michael Smith, Melissa Stanley,

Aleks Stojkovski, Kylie Strickland, Samuel Taylor,

Sonia Taylor, Jiamin Wang, Jiaqi Wang, Riwa Wiki,

Philip Wilson, Daniel Wishart, Kit Woo, Yige Wu,

Sungwon Yoon, Hua Yu, Roselyn Yuen.

MAINFREIGHT AIR & OCEAN
PERISHABLES SYDNEY

Darren Bird, Michael

Blackburn, Thomas Bower, Mirjana Bridge, Mark

Bugden, Matthew Canturi, Volkan Er, Petelo

Falaniko, Lisa Harrison, Zara Harrison, Isabella

Hickox, Sophie Hill, Kristian Jensen, Marika Lenzo,

Dean Maxworthy, Debra May, Tyrell Mayfield,

Damien McNamara, Michael Neoklis, Kate Pryor,

Imran Shaikh, Latisa Shiwan, Daphne Sun, Lee

Symons, James Tautaiolefua, Joshua Thomas, Kurt

Van Ummersen.

MAINFREIGHT AIR &

OCEAN TOWNSVILLE

Angela Etika-Fenwick,

Melyssa Hobbs.

MAINFREIGHT FTL

ADELAIDE

Brian Cook. MAINFREIGHT FTL

BRISBANE

Timothy Craig, Samuel Hudson,

Angela Topp.

MAINFREIGHT FTL

MELBOURNE

Faafetai Etuale, Stephen Kay,

Brandon Lawler, Aaron Louws.

MAINFREIGHT

FTL PERTH

Paul Reed. MAINFREIGHT FTL

SYDNEY

Eva-Lynn Patai, Rodney Steel.

MAINFREIGHT IT MELBOURNE Darrel

Byrnes, Lawrence Gangi, Jonathan Holmes, Michael

Hood, Aditya Hooda, Sandeep Kaur, Megan

Mackay, Bruno Marra, Andrew McLeod, Kate

Oakley, Darryn Petricevich, Pagona Petricevich,

Benjamin Renehan, Suman Shaganti, Justin

Ventura, Anthony Venuto, Marija Vukovic.

MAINFREIGHT IT SYDNEY David Coen,

Rachael Moore, Matthew Murphy.

MAINFREIGHT LOGISTICS ADELAIDE

Nicholas Clayfield, Sean Howell, Scott Knight, Aaryn

Minerds.

MAINFREIGHT LOGISTICS

BRISBANE (LARAPINTA)

Fetolofai Ah-Ching,

Cameron Barber, Alanah Campbell, Kale Christison,

Jennifer Colditz, Alexander Finlay, Kate Fraser, Liam

Fraser, Paul Fraser, Sian Gaebler, Nicholas Gardner,

Gordon Hay, Nikki Hemmings, Dragan Ivesic, Barry

Keleher, Tyler Little, Jackson Matkovic, Brandon

McCorkindale, Christine Meekings, Jason Moroney,

Daniel Mullins, Benjamin Parker, Jessa Pinili, Bianca

Reck, Tracey Redman, Benjamin Smith, Rosemary

Starr, Eric Taylor, Damon Taylor-Grainger, Hung Tran,

Fiona Trebilcock, Alastair Tymon, Benjamin Walton,

Kevin Yim.

MAINFREIGHT LOGISTICS

BRISBANE (RADIUS DRIVE)

Stephanie

Goldsack, Emma Hemmings, Po Iosia-Sipeli, David

Kidston, Matthew Little, Charles McDermott, Shelby

Moselen, Brent Smith, Harry Winterbourne, Simon

Wishart.

MAINFREIGHT LOGISTICS

MELBOURNE (EPPING)

Rizza Anicete, John

Anitipa, Aysha Assafiri, Liam Bailey, Jayson Bedford,

Vanessa Bogdanovic, Sean Burns, Aidan Chick,

Alexander Chu-Shing, Salvatore Costa, James

Dimick, Nicholas Dinneen, Khoder El-Chaaban,

Alexander Fitzpatrick, Kirollos Greiss, Nick Hodges,

Michael Hurlimann, Erin Icbudak, Zachary Irving,

Antony Johns, Alexander Jordanov, Aleksandar

Karakostov, Kirsten Kerry, Benjamin Kidd, Shane

Kinnear, Anastasios Kourkoulis, Marc La Brooy,

Daniel Lavars, Nathan Lewis, Shannon Lomas,

Esekia Manuele-Malagaoma, Nicholas Manyatis,

Michael McCluskey, Peter McNally, Shaun Mizza,

Sergio Murakami, Ghi-Ng Nguyen, Phi-Hung

Nguyen, Omar Nsour, Samuel Nyhuis, Joseph

Padua, Metodij Petrevski, Dominica Poutini, Cody

Rayson, Dillon Rayson, Jacob Regester, Mark

Sammut, John Sarkis, Brendan Shergill, Bozidar

Simjanoski, Gabriel Simonetti, Akash Singh, Monika

Stojkovska, Joshua Sumura, Pavithra Tallam,

Harmon Taulapapa, Valentin Teles, Serhiy

Timoshchenko, Renata Ugrinovska, Martin

Wierzbicki.

MAINFREIGHT LOGISTICS

MELBOURNE (FILLO DRIVE)

Rhys Alvarez

Dewar, Aaron Bond, Kimberley Davis, Julia De

Rossi, Josh Eastwell, Pinar Gulmen, Liam Jilla,

Aleksandra Jovanovski, Bradley Lightburn, Daniel

Mason, Riordan McCarthy, Nicholas Meehan, Karim

Moham, Toby Smith, Christopher Stephens, Huitao

Zhou.

MAINFREIGHT LOGISTICS

MELBOURNE (NOBLE PARK)

Molly Boswell,

Jake Charles, Peyton Coghlan-Savage, Michael

Datseres, Kaytlyn Davies, Riki Davies, Senad Dosic,

Anthony Ennerst, Craig Fenney, Milka Ilijanic, Natalie

Jonker, Andrew Journeaux, Gregory Kennedy,

Patrick Kerr, Ryan Knipe, Resalene Lavaka, Daniel

Martin, Angelo Michael, Ha Nguyen, Nathan Power,

Presley Purcell, Sayed Shahi, Ranbir Singh, Dean

Sinnbeck, Clive Smith, Sengly Tann, Eric Thea,

Jason Thea, Aaron Varga, Joel Winder.

MAINFREIGHT LOGISTICS PERTH Kyle

Baskerville, Drew Benson, Hamish Bradley, Helen

Brookshaw, Craig Ellis, Matthew Elphinstone,

Alexander Griffin, Brett Hoare, Nicholas Marshall,

Sasa Pelemis, Gerald Randle, Ricky Sassanelli, April

Schmidt, Scott Taumata, Brendon Taylor, Zachery

Taylor, Ryan Vagg.

MAINFREIGHT LOGISTICS

PERTH (KEWDALE)

Marlon Fresher, Joshua

Matthews, Taras Melsom, Shaun Passmore, Pauline

Poi, Regan Sorensen, William Tuheke-Wade,

Todd Vallerine.

MAINFREIGHT LOGISTICS

SYDNEY (KOOKABURRA)

Bethany Baillie,

Mustapha Beri, Brendan Burke, Raymond Camillire,

Kayla Collins, Joshua Cutrupi, Sejla Dizdaric, Taylore

Filko, Scott Forsyth, Matthew Gowman, Elise Hart,

Ali Hassani, Aaron Hill, Susila Ika, Mustafa Jan,

Alexander Joyce, Steve Kalim, George

Kapagiannos, Ousama Kheir, Matthew Knox, Kadir

Koksal, Rajeenth Kugathas, Ashleigh Lemmon,

Jordan Lennon, Faith Ling, Stephen Loion, Paul

Loveridge, Xian Low, Andrew Luu, Don McClean,

Christopher McGrath, Annie McKee-Salesa, Luke

Monk, Peter Moodley, Solina Ngov, Shaun

Nunn-Paton, Blake O’Reilly, Shaun O’Reilly, Sunti

Ouk, Vitda Pangnanouvong, Luke Parkes, Glenn

Parkhill, Daniel Payne, Jessica Rao, Kalen

Rawiri-Reed, Kurt Reeves, Aaron Rossiter, Melona

Sabellano, Nilakshan Sharvanandha, Samantha

Simonian, Sam Sita, Mele Tamaofa, Andrew Taylor,

Xena Temu, Christopher Webb, Shane Zielonka.

MAINFREIGHT LOGISTICS SYDNEY

(PRESTONS)

Faapaia Alao, Luke Arena, Dylan

Ball, Christina Bekkema, Emilija Benderovska,

Marissa Berioso, Jacob Briggs, Nathan Brisenden,

Raymond Burgess, Charlie Camilleri, Viviana

Carreno, Catherine Catania, Augusto

CepedaSimoes, Deepa Chandra, Virginia Cheong,

Shepherd Chigiya, Pik Choy, Andrew Christiansen,

Dalton Christie, Rowan Cooke, Rhiannon

DÁgostino, Pramendra Datt, Ryan Denmeade,

Gregory Doherty, Jackson Elliot, Desmond Esera,

Merie Fabian, Futakihaagana Fepale, James

Fitzpatrick, Florita Forrester, Rui Geng, Sok Ghoy,

Ian Gibson, Scott Green, Tannia Gujanto, Joe Harris,

Lisa Huy, James Iorfino, Aris Izmirlian, Michael

Jackson, Yu Jing, Leanne Jones, Riyaz Jordan,

Tonielle Kau Kau, Matt Kennedy, Erato Koukides,

Matthew Lam Cang Bap Tai, Megan Lawson,

Kukama LelilioSiu, Pene Lipine, Rangimarama Maa

Tauati Iakopo, Tuone Maile, Denny Mankin, Juan

Mantes, Terachel Marurai, Stacey Maundrell, Sally

McCarren, Glenn McDonald, Ivana Mitreski, Mitchell

Montgomery, Brooke Moretti, Maata Ngatai, Julina

Ngov, Thi Nguyen, Pohorambage Nilantha, Swee

Ong, Franca Onwodi, Delia Osorio, Ivan Osorio,

Daniella Pallone, Faye Pating, Antonio Pavez, Tanya

Pavez, Keith Penman, Sopha Phimmasone,

Santhush Pohorambage, George Popovski, Victoria

Potifara, Jade Powell, Ronald Prasad, Fernando

Puglia, Ashlie Rawnsley, Alex Rivera, Benjamin

Robins, Samuel Robins, Andrew Robinson, Ashley

Ross, Vandhana Ross, James Rullo, Karl

Rutherford, Tarek Saad, Rae Sabando, Premal

Shah, Shahban Shah, Damien Shankar, Anthony

Sialavai, Dragan Simonovski, Matthew Smith, Abigail

Tago, Olomaene Tago, Dean Tanweer, Suhandy

Tengara, Fredrick Tevaga, Michael Thompson, Klara

Thwaite, Tracey Tihema, Emily Tran, James Tran,

Kiec Tran, Tin-Shing Tse, Dolores Upton, Aaron

Vallely, Jordan Velcich, Lisa Vo, Jarred Wetere,

Jazmin Willcockson, Jamie-lee Williams, Sophal

Yos.

MAINFREIGHT METRO BRISBANE

Scott Aspinall, Harpreet Brar, Ranjit Brar, Noel

Cumner, James Date, Lucas Gatto, Pardeep Gill,

Cody Hart, Hayley Hollindale, Zuzana Horniak,

Yvonne Ili, Robbie Jackson, Himesh Kamdar,

Shabahaz Kanith, Brad Keating, Clint King, Jinder

Kumar, Nima Najafpour, Steven Pomeroy, Manoj

Punj, Arvinder Singh, Gurjot Singh, Harminder

Singh, Harvinder Singh, Jattana Singh, Mandeep

Singh, Tejbir Singh, Josephine Smith, Alan Taylor,

Khalid Usman, Michael Walker, Samantha Ward,

Yong Zhu.

MAINFREIGHT METRO

MELBOURNE

Abdul Arshed, Meron Ashebire,

Yilma Asherbire, Jim Aygun, Ricky Banga, Lanelle

Barkho, Timothy Brown, Nicholas Cerchiara, Kolio

Falealii, Daljeet Goraya, Rifet Gorovic, Parminder

Handa, Imraan Haylaz, Bob Inoue, Navdeep Johal,

Peter Klein, Stevo Krstevski, Minh Lam, Stephanie

Marroun, Bereket Mulholland, Xuan Minh Phan,

Grace Polgar, Elvin Satendra, Ozkan Sener, Bikramjit

Singh, Gurjeet Singh, Gurlal Singh, Harmandeep

Singh, Jassi Singh, Kuldeep Singh, Rajinder Singh,

Ramandeep Singh, Satwinder Singh, Sharan Singh,

Varinder Singh.

MAINFREIGHT METRO

SYDNEY

Arthur Alexiou, Jayraj Amrutlal Panchal,

Mohammed Ashifdar, Dallas Blitvic, Michael Blitvic,

Deni Bozinovski, Alan Brown, Francisco Candido De

SouFerreira, Jiri Chek, Ethan Cole, Alistair Davey,

Tony Dimovski, Ngoc (David) Dinh Nguyen, Andrew

Gailani, Rgheed Ghdhaib, Habib Hadi, Jane Henry,

Jacqueline Holt, Kylie Jones, Paul Jones, Kire

Josevski, Nick Karapalevski, Andrew Kumar, Thanh

Le, Christopher Maggs, Zac Mohamad, Selvakumar

Navarathinam, Thai Nguyen, Ricardo Odiamar Pan,

Kirtesh Parsunath Baran, Gaya Prasad, Lindsay

Puckeridge, Ali Rahal, Atma Ram, Mike (Mihindu)

Ratnayake, Malik Sabih, Maetham Salah Zeebala,

Sujeet Singh, Craig Smith, Xingzhi (Didy) Sun, Saso

Sutarov, Nikolce Tasevski, Joshua Taylor,


Goranco Trajkoski, Monathal Yousif, Ghulam Zohori.

OWENS BRISBANE Shareen Ali, Daniel

Andrasescu, Paul Bellamy, Desmond Bertram,

Darren Copland, Jamie Davis, Steve Dibley, Nunzio

Fichera, Shaun Gilmour, Ross Hastings, Sandeep

Kumar, Fereniki Londy, Teofil Lucacua, Lisa Mahy,

Rhys Mahy, Kristie McKenna, Murray McMahon,

Ezechil Opris, Cornel Pacurariu, Kim Pawsey, Kane

Pinney, Matt Provost, Adam Real, Mark Redman,

Brit Reynish, Mustafa Rezaie, David Sandor, Tibor

Sandor, Sharyn Santoso, Kelly Shortall, Davinder

Singh, Gursewak Singh, Jag Singh, Jaspal Singh,

Manbir Singh, Pushipinda Singh, Sukhdev (Harry)

Singh, Surjit Singh, Manjot Singh Gill, Dalbir Singh

Sandhu, Parmvir Singh Thind, Hayden Smith,

Timothy Stewart, Zoltan Takacs.

OWENS

MELBOURNE

Nick Apostolovski, Zlate

Apostolovski, James Bennett, Ian Callen, Jessica

Clayton, Anthony Coles, Mathew Coles, Jose

Conejera, Jose Conejera, Greg Cook, Roderick

Douglas, Danielle Edwards, Krystal Fox, Peter Fox,

Jonathon Galluzzo, Manuel Goncalves, Christian

Hargreaves, Jake Hedley, Tony Henderson, Shaun

Hurrell, Melanie Hynd, Mandeep Jackson, Jovan

Jovanovski, Monty Khaira, Parveen Lamba, Barry

Lynn, Vince Mammone, Scott McEachern, Antony

Papalia, Rodney Patterson, Narinder Rai, Josue

Romero Rodriguez, Nigel Rouse, Martin Sammut,

Avtar Singh, Baljinder Singh, Gurvinder Singh,

Malvinder Singh, Manpreet Singh, Gary Singh

Sandhu, Harjinder Singh Sandhu, Andrew Smith,

Andrew Thompson, Ross Turner, Luke Van Meel,

Tommy Vu, Nathan Zahra.

OWENS PERTH

Martin Buckland, Samantha Cox, Tyron Harman,

Lachlan Leggett, Nigel Leggett, Tony Pain, Gethash

Ramlukun, Jarryd Reeve, Sumit Sehgal, Paul

Sheppard, Carl Simons, Gurjant Singh, Gurvir Singh,

Harwinder Singh, Tejwant Singh, Netana Tauhinu,

Jason Templeman, James Trinidad, Donnacha

Walsh.

OWENS SYDNEY Jessica Adamson,

Jordan Andersen, Hugh Blaxland, Mark Boyd,

Mende Bozinovski, Roberto Catalano, Hirdesh

Chand, Craig Connors, Colin Coulter, Nick

Dimitropoulos, Mohamed Elneny, Damen England,

George Evangelou, Glen Finlay, Nicholas Francis,

Dario Fredotovic, Benjamin Gilks, Oguzhan

Gozubuyijk, Vangel Gramosli, Brian Hogarty, Keith

Jones, Paul Jordon, Phil Jordon, Bobi Karaguleski,

Zinal Khan, Peter Kolozos, Paul Konstantinidis,

Dave Lembke, Ali Madrajat, Ngaori Maeva-

Manapori, George Mantzakos, Dean Marks, Glen

Marshall, Paul McCracken, Tristram McKay, Vale

McKenzie, Robert Michael, Cristian Montoya

Brohoquis, Cuong Nguyen, Emily Nicholls,

Christina Papoulia, Marcus Peat, Van Pham, Mike

Reid, Reino Repo, Ljupco Ribarevski, Josephine

Riservato, Pasqua Riservato, Annalisa-Maria Rizzo,

James Russell, Arnika Seed, Karyn Seed, Peter

Stamos, Mirce Stojoski, Graham Stone, Keith

Stone, Ronald Stone, Graeme Syphers, Macauley

Thomson, Mateusz Tonowicz, Emily Tuitufu,

Emma-Jayne Vetter, Ben Wilson, Eddy Wosik,

Costa Xenos, George Xenos.

TRAINING TEAM

AUSTRALIA

Gabrielle Arena, Louis Arnott, Troy

Bennett, Dale Cranston, Katrina DeKoning,

Gabrielle Fage, Natalina Fisher, Warren Glover,

Rachel Hilton, Kelsey Mitchell, Colleen Moore,

Debra Netherway, Ashley Taylor, Shona Taylor,

Winnie Tong, Dietmar Venkort, Salvatore

Viavattene.

Asia: China

CAROTRANS GUANGZHOU

Lance Feng, Kidd Li, Jessie Xiong, Lousie Zheng.

CAROTRANS SHANGHAI Jeff Bian, Yuki

Dong, Riyo Jiang, Lawrence Qin, Helen Sun, Benny

Tang, Sarah Yuan, Gary Zhang.

CAROTRANS

SHENZHEN

Lydia Cai, Yonas Fong, Nil Lam,

Danny Lan, Helen Li, Abby Lin, Jemma Liu, Sue Su.

MAINFREIGHT BEIJING Kingkong Jin, Amy

Liu, Catherine Xie, Fiona Zhao.

MAINFREIGHT

CHENGDU

Zoe Cao, Paul Chen, Phoebe Cheng,

Ada Dai, Andrea Dong, Share Du, Linda Fan, Bubble

Guo, Joy Guo, Abby Han, Benny Liu, Summer Luo,

Enid Shi, Connie Sun, Cara Wang, Summer Wang,

Lumi Xiao, Ariel Xie, Rhea Xu, Joyce Yuan, Canace

Zhou.

MAINFREIGHT GUANGZHOU Ben

Chen, Yoyo Chen, Dick Deng, Lynn Hu, Sweety Li,

Vivian Liang Liang, Jane Liu, Judy Liu, Natalie Liu,

Ray Liu, Cecilia Luo, Anita Su, Angela Wang, Castie

Wu, Cecile Yu.

MAINFREIGHT NINGBO Bobo

Cai, Vicky Chen, Vivi Chen, Jane Ke, Frank Li, Lisa

Li, Rain Shan, Andy Sun, Sunny Sun, Wesker Wang,

Emily Wu, Michelle Wu, Carl Xu, Joice Xu, Cindy

Yang, Linda Yang, Paul Ye.


MAINFREIGHT QINGDAO Christopher Cai,

Rex Gao, Suki Han, Gary Hu, Eva Jiang, Helena

Li, Michael Li, Neil Li, Tiger Li, Steven Sun, Never

Xu, Miki Yuan, Amanda Zhang, Jacinta Zhao,

Vicky Zhao.

MAINFREIGHT SHANGHAI

Mario An, Joy Cai, Leo Cai, Squall Cai, Joe Chen,

Neal Chen, Kevin Dai, Aki Ding, Caroline Ding,

Tweety Ding, Frey Dong, Kenny Dong, Joanna

Fan, Nancy Fan, Roney Fang, Frank Fei, Jane

Gu, Kelvin Guo, Patrick He, Nina Huang, Peter

Huang, Joan Ji, Mary Jiang, Terry Jiang, Lydia

Jin, Nick Jin, Daisy Li, Joyce Li, Lucky Li, Andy

Liu, Anny Liu, Tom Liu, Olivia Lu, Rody Luo,

Echo Mao, Cindy Qi, Miko Ren, Jenny Shui,

Eric Sun, Joki Tan, Penny Tang, Cherry Wang,

Cici Wang, Steven Wang, Kristy Wei, Aaron Wu,

Enali Wu, Joyce Xie, Josh Xu, Michael Xu, Una

Xu, Yuki Xu, Wintour Yan, Lily Yang, Eddy Yao,

Allen Yi, Ranki Yu, Kimi Zhang, Onew Zhang,

Vivien Zhang, Zues Zhang, Ada Zhao, Kathy

Zhao, Minnie Zhao, Daniel Zhou, Zoey Zhou,

Apple Zhu, Vincent Zou.

MAINFREIGHT

SHENZHEN

Healer Diao, Dora He, Summer

Huang, Dylan Ji, Vincent Lee, Cara Li, Karin Li,

Sasa Liang, Sunny Lin, Letina Liu, Rolla Liu,

Vincent Sun, Crystal Wang, May Yang, Paul

Yuan, Xuan Zeng, Annie Zhan, Megan Zhan,

Cindy Zhang, Seven Zhang, Shayne Zhang,

Symia Zhang, Yukey Zhang, Jenny Zhong, Jotine

Zhong, Canni Zou, Cathy Zou.

MAINFREIGHT

TIANJIN

Sage Chang, Carol Chen, Jason Jiang,

Momo Ma, Jenny Niu, Carson Sun, Jade Sun,

Zoom Sun, Wendy Tian, William Wei, Tracy Xu.

MAINFREIGHT XIAMEN Renny Chen, Roy

Chen, Sally Chen, Tina Chen, Colin Cheng, Jessica

Chou, Andy Guo, Will Li, Johnson Lin, Risa Su,

Bressanone Zhu. Hong Kong

CAROTRANS

HONG KONG

Meki Chan, Ray Chan, Coey

Cheuk, Abe Cheung, Carol Lam, Ivan Lau, Perry

Lau, Sharon Lee, Judy Leung, Elton Poon, Pearl

Sze-To, Suki Wai, Daffy Wong, Winter Wong,

Yvonne Yick.

MAINFREIGHT HONG KONG

Andrew Chan, Edwin Chan, Gary Chan, Joe Chan,

Stanley Chan, Jerry Chan, Wilson Chen, Edmond

Cheng, Cecilia Cheung, Eddie Cheung, Connie

Cho, Clement Chong, Queenie Chong, Mapy

Chow, Cary Chung, Vincent Fung, Elly Fung, Joe

Hsieh, Winnie Huen, Carrie Hui, Franklin Hui, Noel

Kong, Timothy Kong, Peter Koo, Kurt Kwan, Elyse

Lai, Steve Lai, William Lai, Franky Lam, Ivan Lam,

Ivy Lam, Jacky Lam, Yuk Lam, Simon Lau, Gary

Lau, Joyce Lau, Kittie Lau, Judith Law, Jouann

Lee, Matthew Lee, Wayne Lee, Joe Lee, Jason

Leung, Kathy Leung, Jackie Lo, Simon Lui, Franky

Lui, Jaimie Nip, Ming Pang, Ambrose So, Burt So,

Duncan Tang, Ricky Tong, Fannie Tsang, Magic

Tsang, Janly Wai, Chloe Wong, Crystal Wong,

Michelle Wong, Nicky Wong, Rose Wong, Nam

Wu, Michelle Yip, Kris Yu, CK Yuen, Sherman

Yuen, Nichi Zhui. Taiwan

CAROTRANS

KAOHSIUNG

Jean Liu, Sam Tu. CAROTRANS

TAIPEI

Milly Chen, Jimmy Chien, Nico Kuo, Eva

Lin, Amber Tsai, Joanna Tsai, Chloe Wu, Egbert Yu.

MAINFREIGHT KAOSHIUNG Joanna Bao,

Angie Chen, Mia Cheng, Annie Chou, Joyce Huang,

Liliy Wu.

MAINFREIGHT TAIPEI Zoeie Chao,

Josephine Chen, Winnie Chen, Hector Hsu, Ruby

Hsu, Ellen Kuo, Esther Kuo, Sindy Lee, Angelic

Lin, Jessie Lin, Eric Peng, Hank She, Stanley Su,

Jessica Wu. Japan

MAINFREIGHT JAPAN

Rui Kawasaki, Mami Konishi, Motoko Murata,

Yohei Negishi, Tomoko Sonoda, Saori Takashita,

Ryosuke Tohma. Malaysia

MAINFREIGHT

MALAYSIA

Jin Wen Ang, Chi Yee Chew, Hwei

Loo Lee, Weng Keong Lee, Ming Ian Liang, Pei Nei

Lim, Vei Kit Lim, Elise Vanessa Ng, Pei Ling Tan,

Tun Sherng Teoh, Keen Shyang Yap. Thailand

MAINFREIGHT THAILAND Pattamanun

Anuchitananon, Kodchaporn Arsaseney,

Sukanya Boonrueng, Withanya Ceetantivech,

Saowanee Chaiparinya, Nawarat Chalitapanukul,

Chatchawan Channim, Wuttichai Intarasil,

Patcharin Jakarathorn, Pathumporn Klinkaewpa,

Narirat Koksanthia, Salintip Lakananuwat,

Napassorn Mamaethong, Peeyaporn

Puangkheaw, Suttapa Rojanaporn, Narong

Sae-Iew, Jidapa Saeyab, Virongrong Sangkaew,

Krissana Sangpao, Kasidit Sarapanwong, Supang

Somboonkusolsil, Sommai Trakarnrung, Jinjuta

Woranit. Vietnam

MAINFREIGHT VIETNAM

Chau Cao, Lee Dang, Nancy Do, Sophie Do, Steven

Huynh, Gemma Le, Daisy Luong, Jessica Luong,

Ricky Ngo, Anna Nguyen, Bryan Nguyen, Richard

Nguyen, Selena Nguyen, Rita Pham, Alex Phan,

Michael Phung, Danny Tran, Janet Tran, Kevin

Tran, Nari Tran, Peter Vo, Stormy Vu. Singapore

MAINLINE SINGAPORE Clarence Cheng, Ken

Cheng, Bee Eng Chua, Jason Chua, Lim Joo Chye

Lim, Josef Tan, Billy Zhang.

ASIA

EU
Americas: Canada MAINFREIGHT

TORONTO

Dean Baran, Sara Bennis,

Alex Borghello, Elchanan Fontaine, Mike

Thompson, Carole Forbes, Shawn Roach,

René Van Houtum.

MAINFREIGHT AIR &

OCEAN TORONTO

Evgenia (Jane) Trogan,

Gustavo Amorim, Bogi Compton, David Frisina,

James McWilliam, Stacey Mitchell, Paul Ody,

Anna Pazynich. Chile

MAINFREIGHT

SANTIAGO

Diego Burgos, Miguel Cuevas,

Marcelo Hermosilla, Hector Lara, Barbara

Macias, Francisco Melo, Beatriz Osorio, Daniela

Vasquez. Mexico

MAINFREIGHT

MEXICO CITY

Pamela Angel De la Rosa,

Brenda Nayazú Angeles Leon, Ana Cristina

Cornejo, Nestor Usiel Garcia Olivares, Valeria

Fernanda Gonzalez Perez, Hector Miguel

Guerrero Lopez, Argenis Rodrigo Ortiz Mendez,

Guido Fernando Ruiz Polo, Alán Sánchez

Delgado, Antonio Carlos Sanchez Hernandez,

Guillermo Alberto Tena Mercado, Azucena de

Jesús Toledo, Brenda Vázquez Martinez.


MAINFREIGHT QUERETARO

Ivan

Garcia, Angelica Sais Insunza.


USA CAROTRANS ATLANTA Debbie

Brautigan, Jennifer Garner, Alice Macgregor,

Veronica Schock, William Young.

CAROTRANS BALTIMORE Michelle

Allison, Damilola Balogun, Marcos Cazares,

Steve Greenfield, Susan Kahl, Lisa Tryon.

CAROTRANS BOSTON Rafal Baturo,

Hiwot Kebede, Joseph Kleinmann, Brian

Moorhead, Ede Salvadore.

CAROTRANS

CHARLESTON

Milos Baric, Lienne Barrise,

Renee Basnett, James Bayne, Kelly Creson,

Kellyanne Dix, Beth Embry, Matthew Flanagan,

Clay Jones, Tyler Nichols, Melissa Raymond,

John Wilson.

CAROTRANS CHARLOTTE

Shelly Bisanar, Jamie Gunnells, Christopher

Montgomery, Tyrone Neville, Camise Normil,

Yenny Villafuerte.

CAROTRANS CHICAGO

Adam Bajek, Nicole Bobor, Lisa Brach,

Jasmyne Brown Roberts, Janice Brunning,

Brianne Buchholz, Olga Cazares, Elisabeth

Conboy, Dagmara Derlaga, Araceli Dominguez,

Sara Faddah, Elzbieta Filipek, Gladys Garza,

Susan Hicks, Jamie Houlihan, Nicole Jarzabek,

Debbie Klodzinski, Rita Kollias, Peter Kowalski,

Carol Malak, Timothy Merchut, Fiorella Meza,

Mark Milan, Karen Molnar Flores, Patricia

Moran, Nicole Muschong, Natasa Nikolic, Lynn

Ocasio, Catherine Petersen, James Stutzman,

Deanna Thoss, David Valadez, Anna Villafane,

Andrew Weisse, Ana Zarco, Joseph Zeno.

CAROTRANS CLEVELAND Diana

Beaman, April June, Cassidy Knauff, Abigail

Malson, Nathalie Oliveira, Magdalena Piktel,

Lori Radca, Whitney Williams, Andrew Zapinski.


CAROTRANS DALLAS

Krystle

Bouchahine, Thomas Cussen, William

Huddleston, Rebecca VanWylick.

CAROTRANS HOUSTON Colin Crabtree,

Mariajanette Espinoza, Aleksandr Kosachev,

David Mashburn, Theresa Maxie, Joshua

Namee, Mylinda Winton.

CAROTRANS

INDIANAPOLIS

Kristine Connolly, Stefano

Ferrari, Virginia Valentine.

CAROTRANS

LOS ANGELES

Maria Aldana, Cameron

Bemis, Maria Bitong Noche, Lueder Bitter,


Kari Christopher, Lorenzo Cometa, Andrew

Dickie, David Duyao, Elsa Gomez, Oscar

Gudino, Lexus Hansen, Jessica Hayes,

Siamack Heshmati, Norihiro Hisanaga,


Theresa Iamaleava, Darren Justice, Derek King,

Claudette Kwiat, Eduardo Lemus, Patricia

Maahs, Henry Man, Meha Marathe, Jazmine

Medina, Jennifer Miller, Jeremy Pacheco,

Robert Ramirez, Carol Rebullar, Diana

Sepulveda, Craig Stukey, Christopher Sullivan,

Mark Taitingfong, Rowina Tauanuu,


Christina Towne, Christopher Wilson, Merlin

Zepeda.

CAROTRANS MIAMI Deuris

Aguiar Naranjo, Roberto Ayala, Bruno Barbi,

Haymeli Castillo, Daniella Dellisanti, Rocio Diaz,

Gregory Meier, Susana Melara, Juan Melendez,

Bryan Meza, Daniel Orihuela, Juan Perdomo,

Jeniffer Possebon-Barbi, Cindy Rafart,

Jacqueline Ramos, Hugo Sequeira,


Branko Tomicic, Kika Veiga.

CAROTRANS

NEW JERSEY

Christopher Ablanedo,

Stephanie Adago, Oluseun Afolabi, Willie

Aguilar, Jessica Almonte, Maria Amorim,


Carlos Araujo, Takahiro Arima, Richard Awansi,

Erik Berger, Ana Bermeo, Kai Campbell,

Michelle Chan, Janae Chandler, Kerry Conn,

Nadiyah Dabney, Gary Dreuer, Christina Egan,

Natalie Espino, Misa Hernandez, Ken Hogan,

Shalise Hughes, Antanina Imbriaco,

Christopher Johnson, Sherard Joseph,

Takehito Kashiwabara, Latonia Kornegay, Janet

Lanni, Laura Litchholt, Samuel Martinez-Arias,

Debra McCarty, Michelle McGrath, Kevin Meza,

Kenneth Millroy, Jessica Murphy, Isaac Nelson,

Eugene Oh, Yashira Perry, Diane Pirozzi, Kelly

Preziosa, Andrea Quito, Kelly Rodriguez, Nicole

Salcedo, Julianne Santiago, Ellen Shindle,

Catarina Silva, Nancy Silva, Dillon Smith,

Matthew Spartz, Philip Szumanski, Zamary

Vargas, Ricardo Villacreses, Jeryck

Villahermosa, Mary White, Heidi Zhao.


CAROTRANS SEATTLE

Milton Carballo,

Andrea Cherry, Andrew Garrido, Ryan Ritchie,

Adam Whelpley.

MAINFREIGHT ALBANY

Scott Avery, Jeffrey Burke, Eileen Ceccucci,

Frances Fairall, Lisa Gaetano, Brian Gallagher,

Bryce Hicks, Natalya Ivashina, Rebecca Lahart,

Talia Lamiano, Agnes Maciorowski, Michael

Morrissey, Robert David Narcavage, Sincerity

Nomahegan, Elinor Rees, Nolan Sutton, Tracy

Zayac.

MAINFREIGHT ATLANTA

Brendon Belesky, Michael Benjamin, Bryan

Burton, Patrick Edd, Devyne Gilliam, Gye

Griffin, Brian Martin, Matthew Mayville, Lavon

McCord, Valencia McCree, Lanora Norton,

Sean Phelan, Beth Rosenbrock, Danny

Skipper, Michelle Smith, Kaycie Young.

MAINFREIGHT CHARLOTTE Nicole

Boccia, Brian Christopher, Johnny Collins,

Wicks Dickson, Scott Hopkins, Matthew R

Mays, Robert Nsonwu-Farmer, Julie Power,

April Pride, Michael Rosenbrock, Elisabeth

Ruggiero, Amy Walker, Jennifer Waters, Robert

West, Filipp Zaborenko.

MAINFREIGHT

CHICAGO

Lydie Anchling Jones, Kent

Anderson, Eric Bell, Suzanne Berner, Melissa

Bosnic, Melissa Bowder, Jasmina Catic,

Edward Chamberlain, Alejandro Chavez,

Samuel Comfort, Akomachi Contreras, Vijaya

Dasari, Eva Diaz, Fred Erhardt, Jonathan

Escutia Ponce De Leon, Brandon Fischer, Marie

Fohet, Justin Frisbie, Melissa Fuentes, Adrian

Gallardo, Matthew Gara, Jasmine Gonzalez,

Matt Gustafson, Lori Hageline, Michael Heithoff,

Mark Hines, Donald Hull, Marco Iannessa,

Mohsin Khan, Mark Kral, Thomas Kurtzer,

Jamaria Littleton-Donner, Taras Maksymovych,

Annalisa Marchiafava, Danny Mason, Maria

Mata, Thomas Merriman, Elizabeth Moore,

Mary Mumper, Kiley Ogden, Nathaniel Page,

David Rogalski, Christopher Ruiz, Desiree

Santos, Matthew Shatswell, Jon Shaw, Riley

Tryhorn, Jenny Valle, Erik Weidner, Justin

Yonkelowitz.

MAINFREIGHT COLUMBUS

Sherry Bivens, Jeffrey Infield, Christopher Khan,

Jason Meyer, Steven Rea, Tonia Uhrig.

MAINFREIGHT DALLAS Lane Adamson,

Richard Aitken, Shelley Aldaco, Misae

Amemiya, Karina Liliana Benavidez Guzman,

Willie Brewer, Basil Brockles, Ashley Burns, Ana

Calderon Copado, Kathryn Campbell, Andrew

Coulton, Diane Cox, Marty Cryer, Bharat

Dambal, Richard Dean, John Dunson, Clark

Elliott, Kyle Evans, Trevor Fossand, Brandon

Fuller, Monique Garcia, Antonio Garza, Ronny

Garza, Michael Gillaspie, Thomas Goodfallow,

Elsa Guzman, Deborah Hendrix, Johnny-Angel

Hernandez, Shelby Hill, Wesley Hutchings,

Phillip James, Jordan Karnes, Akshay Kothari,

James Lawless, Erin Lewis, Valerie Lewis, Todd

Luney, Mandy Ly, Eduardo Marenco, Trey

Matthews, Stefanie McGaughy, Nichole

Montoya, Miguel Morales, Marshall Oxentine,

Elsi Pacheco, Janesh Patel, Elizabeth Plaster,

Adam Renner, Donna Ridgeway, Carlos Rojas,

Anthony Salamino, Victoria Schomas, Seth

Sefah, Scott Sprick, Amy Strong, John Taylor,

Anthony Todd, David Wassef, Michelle Worden.

MAINFREIGHT DETRIOT Edward

Richardson, Jacob Varcie, Michael Watson.

MAINFREIGHT HOUSTON Zachary

Abeyta, Matthew Britton, Linda Callahan,


Carla Champion, Maria Cordero Guzman,

Lawrence Drucker, Miguel Duron, Jamilyn

Edmond, Tammy Edwards, Freddie Gonzales,

Sara Gravely, Blanca Holliday, Lori Hull Garcia,

Peter Joyce, Merrilee Levine, Sydney

Littlejohn, Mariana Obeso Montiel, Danielle

Perkins, Ronald Rodriguez, Cheryl Rogers,

Scott Rood, Kristian Stone, Krystle Vail,

Terrence Wakefield, Michael Zapata.

MAINFREIGHT LAREDO Brenda Gloria,

Reynaldo Rodriguez.


MAINFREIGHT LOS ANGELES Jose

Aguilar, Jose Aguirre, Ana Alvarez, Alonzo

Alviso, Robert Andrews, Javier Angulo, Dorcas

Armstrong, Andrew Badalian, Adam Barnes,

Katherine Becker, McDaniel Belony, Linda

Bettencourt, Ryan Betts, Sean Betts, Edward

Blancarte, Benjamin Bowie, Steven Brode,

Peter Burke, Christopher Burton, Rodney

Buskeness, Matthew Cable, Armando

Camarena, Raquel Canas-Thompson, Antonio

Carranza, Eva Caruso, Alexis Castro, Jhovanny

Castro, Nelson Cheung, Janet Clark, Kenny

Cobos, Richard Cohuo, Joseph Connors,

Abraham Cortez, Claudia Cortez, Stephen

Curle, Lance Dailey, Joseph Daniel, Maryjane

Dauis, Mary Dawkins, William De La Cruz,

Analisa Dennis, Sera Dennis, Harshvardhan

Dharamshi, Ruby Dominguez, Elizabeth Duran,

Peter Dyeremose, Celine Eazell, George

Ehrreich, Taschana Epps, Jacqueline Estrada,

Michael Forkenbrock, Ronald Frady, Byron

Franks, Veronica Friedland, Matthew Friedman,

Michell Galavis-Vazquez, Jacqueline Ganther,

Denise Garcia, Isaac Gettis, Raewyn

Glamuzina, Eric Gonzalez, Jeremiah Gregersen,

Caitlin Grice, Ernie Griego, Joyce Guillen-Cox,

Andrew Hall, Laurie Hamid, Ali Heidari Saeid,

Brian Heidrich, John Hepworth, Lisa Herrera,

Judy Hua, Ajanae Hunter, Heriberto

Igueldo-Flores, Nicholas Ireland, Patricia

Jimenez, Debra Johnson, Edward Joseph, Ian

Katz, Seife Kidane, Hyo Kim, Michelle King,

Jonathan Kirwan, Patrick Kirwan, Brittany

Kolacki, Carlos Labrada, Caitlin Laos,

Alexander Lasota, Abraham Leandro,

Esperanza Leanos, Sung Chae Lee,

Christopher Leighton, Jeffrey LeMaster, John

Lewczyk, Kara Lewczyk, Martin Lopez, Daniel

Lund, Tyler Lund, Elisa Lupian, Marcela Macias,

Katherine Marroquin, Alan Martinez, Cynthia

Martinez, Desiree Martinez, Henry Martinez,

Barry McLemore, Jorge Mejia, German

Mendoza, Janeth Meza, Miguel Meza, Kane

Michalick, Maree Michalick, Shane Michalick,

William L Minard, Marissa Monteroso, Alba

Montes, Rigoberto Mora, Marie Morales,

Michelle Morales, Angus Morrissy, Michael A

Moval, Silvia Mueller-Thompson, Delayel

Mukhtar, Jesus Munguia, Jeffrey Nallick,

Clarence Nelson, Mark Neumann, Kimberly

Nguyen, Christina Nielsen, Ryan Ogren, Young

Yong Oh, Erik Ohler, Rafael Oliveira, Jovita

Orozco, Pierre Ortega Diaz, Maria Ortiz,

Danielle Palmquist, Kim Parker, Michael

Paynter, Simon Perez, Sandra Phillips, Ivan

Ramirez, Victor Ramirez Yui, Craig Robb,

Stephanie Rodrigues, Frank Rodriguez, Olivia

Rodriguez, Karen Rogers, Alma Rosa, Alena

Rumiantceva, Beatriz Salcido, James Seifert,

Paul Sharpe, Shih Yen Shen, Anita Smith, Yung

Sun, Nathan Thomas, Shijin Thomas, Mieko

Thompson, Eric To, Cesar Torres, Luis Uriarte,

Benjamin Ushkow, Thomas Valentine, Martha

Valenzuela, Isela Vazquez, Armando Velasquez,

Lilia M Villanera, Regina Warden, Susan M

Weiher, Dallas Anthony Wymes, Jaime

Zamora-Gutierrez, Anthony Zepeda.

MAINFREIGHT MCALLEN Rafael Garcia,

Christian Magana, Danielle Moreno, Cruz

Polanco Lara, Noel Rodriguez, Juan Sagrero,

Benito Salinas.

MAINFREIGHT MIAMI

Addeny Bracho Boniel, Yoelis Estevez, Doris

Gomez, Fernanda De Moraes, Jennifer

Pedreira, Pedro Pombo, Samantha Radell,

Eduardo Rivera, Nicole Szelest, Victoria

Whalen.

MAINFREIGHT MINNEAPOLIS

Scott Brunclik, Jaclyn Collins, Justin Ellingson,

Rose Peterson, Heather Zoccoli.

MAINFREIGHT NEWARK Jose Alvarado,

Sylvia Arroyo-Pazmino, Joseph Aviles, Orlando

Bahia, Carol Bausch, Patricia Bercy, Edgar

Berrios, Shirley Branch, Jules Branswyck,

David Bubb, Jonas Busse, Stephen Cacnio,

Rosaura Candelario, Carmen Caroleo, Arthur

Castellano, Svend Christensen, Christine

Correia, Tiffany Da Silva, Eliezer Fernandez-

Medina, Curry Fetcher, Aden Gelmi, Victoria

Gelmi, Daniel Hansen, Rodney Harris, Cole

Hopper, Emmaline Howard-Smith, Mary Ann

Kish, Peter Kruszewski, Freddy Landaverde,

Kevin Landaverde, Bryan Landin, Terry Lindell,

Lamar Massey, Kenneth Mattei, Anthony

Mazza, Ana Carolina McLeod, Luis Medina,

Jose Melendez, Jake Moller, Christian Montoya,

Carly Monzo, Minh Ninh, Timothy Pinckney,

Dries Pinoy, Steven Plummer, Stephanie

Quinonez, Julia Riker, Luis Rivera, Moises

Rodriguez, Oscar Rossini, Deborah Rumore,

Chandell Russell, Robert Siuzdak, Richard

Smith, Eric Stockl, Matthew Stuebe,


Danielle Torsiello, Steven Verissimo, Alexander

Warton, Hobyung Yi.

MAINFREIGHT

NORFOLK

Stephen Harklerode, Nancy

Sanchez.

MAINFREIGHT

PHILADELPHIA

Robert Coghlan, David

Cunningham, Jillian Darrow, Kaitlyn Dougherty,

Brandon Gardner.

MAINFREIGHT

PORTLAND

Tariq Abdellatif, Caitlin

Balderrama, Patrick Gary, Tareq Hunaidi,

Angelica Jaracuaro, Daniel Kinoshita, Ramine

Ravanbakhsh, Angel Rivera Ruiz, David Smith.

MAINFREIGHT SAN DIEGO Karen

Amador, Alanah Chavez, Frederick Cordova,

David Enriquez, Erika Heguy, Emily Le Ray,

Eduardo Liera Marquez, Kim Nguyen, Rene

Rodriguez, Paulina Zepeda Gilbert.

MAINFREIGHT SALT LAKE CITY Cathey

Bartholomew, Robert Comfort, Vincent

Marciano, Colin O’Donnel.

MAINFREIGHT

USA SUPPORT CENTER PHOENIX

Joseph Brouillard, Nicholas Bruemmer, Annette

Bustamante, Griselda Chavez, Sergio Chavez,

James Debyl, Michelle Grabek, Aaron Grewal,

Daniel Hutcheson, Alisa Mauldin, Coral Schultz,

Danielle Schultz, Jeremy Thomas, Ami Todd.

Europe: Belgium

MAINFREIGHT AIR &

OCEAN ANTWERP

Wannes Jansen, Peter

Roos, Patrick van der Hoek, Marnix van

Dishoeck.

MAINFREIGHT AIR & OCEAN

BRUSSELS

Katrien Baes, Charlotte Egrix,

Elke Loockx, Maria Catalina Munteanu, Rita

Rassalle, Bart Stevens, Ines Waegemans,

Laura Zenebergh.

MAINFREIGHT

FORWARDING GENK

Hamid Abbou,

Yannick Adriaensen, Jemale Ait Bahaouidder,

Sandro Arena, Osman Biberoglu, Geert

Biesmans, Tanja Biets, Abdelhadi Birbouz,

Abderrahim Birbouz, Johnny Brouns, Liselotte

Camps, Wouter Conings, Jeroen Creyns,

Dorine Daniels, Christophe De Backer,

Domenico De Nicolo, Peter Decock, Tom Dirix,

David Dops, Toufik El Khiari, Farid Farchich,

Dennis Gabriels, François Janssens, Paul

Joosten, Sven Kenis, Dimitri Kubiczek, Andreas

Landuyt, Olivier Lantin, Karen Liesens, Joris

Martens, Thijs Mertens, Dennis Moelans, Movldi

Mudalov, Stijn Mulders, Bart Peeters, Nicolas

Pouet, Axel Ramaekers, Marleen Saeren,

Lindsay Speelmans, Roberto Spiga, Astrid Van

Cauwelaert, Ingmar Vandebroek, Joffrey

Vandenbussche, Tom Vandeurzen, Patrick

Vanloffelt, Maarten Vannoppen, Dimitri

Vennekens, Kevin Verstraeten, Arno

Wackerghom, Parcifal Wackerghom, Zekeriya

Yildiz.

MAINFREIGHT FORWARDING

GENT

Qais Al-Dulaimi, Zekeriya Altintas,

Assaad Banjak, Carine Bauwens, Jamie

Cagnard, Mario Carette, Annemie Casier, Alex

Corbisier, Danny Craeye, Jean De Dieu Niyo,

Nicholas De Jonghe, Yoo Jung De Loof, Dirk

De Maeseneer, Joaquim De Oliveira Gomes,

Tom De Walsche, Didier De Wannemacker,

Pascal Debrabandere, Peter Deconijnck, Maxim

Defer, Benjamin Degryse, Franky Delanghe,

Serioja Delrue, Jan Desmet, Celine Devloo,

Jolien Dewolf, Cengiz Fani, Henk Feys, Sander

Flore, Wim Foulon, Coraline Haelvoet, Jessy

Hardy, Wilfried Hullebus, Pascal Janssens,

Thomas Janssens, Yves Janssens, Frederik

Jonnaert, Kamil Krempa, Bryan Laga, Filip

Laga, Mathias Lava, Filip Legiest, Kenny

Lemoine, Tatjana Logier, Veronique Lootens,

Marc Maerten, Didier Meertens, Kevin

Mestdagh, Fidele Nzuzi Kindanda, Marinus

Pastoor, Liesbeth Pierloot, Katrien Portier, Flore

Quitelier, Margot Ranson, Jamshid Rezaie, Axel

Saerens, Marlies Sevenhant, Manga Singh,

Piotr Sitko, Alegria Smekens, Felix Smeyers,

Khady Sow, Guido Staels, Jorit Sys, Lynn Thijs,

Dimitri Torreele, Stefaan Van Aken, Stijn Van

Den Broeck, David Van Den Bussche, Wannes

Van Den Kerchove, Bo Van Hijfte, Cindy Van

Hyfte, Anne-Laure Van Looveren, Yves Van

Vooren, Miguel Vande Walle, Andy Verbrugghe,

Stefaan Vercruysse, Joke Verkempinck, Wim

Verpoort, Jay Wyns, Nick Wyns.

MAINFREIGHT FORWARDING

OOSTENDE

Jos Allemeersch, Carine Bovy,

Annick Brokken, Kristof Cool, Jimmy

Cooleman, Romina De Smul, Karel Devogeleer,

Lili Devriendt, Lore D’Hooghe, Sabrina

Haeghebaert, Yves Knockaert, Glenn Labens,

Marie-Christine Lesage, Jean Manoula,


AMERICAS

Dirk Ragaert, Peter Sabbe, Line Van Den
Bogaert, Martine Van Hyfte, Katrien Vanden

Eeckhoute, Rudy Vandewalle, Sofie Vanhee,


Jos Vanmullem, Serge Vermander, Ingeborg

Verschorre.

MAINFREIGHT LOGISTICS

GENT

Kendra Caryn, Dimitri Hautekeete,

Bianca Lippens, Febe Van Heirseele, Arno

Versprille, Dries Wittevrongel.

MAINFREIGHT LOGISTICS

OOSTENDE

Fadi Abdulghani, Glenn Ampe,

Johan Baudewyn, Stephanie Baudot, Johnny

Beddeleem, Quentin Bentein, Kaylian Bertrem,

Anzor Beshiev, Katarzyna Beszczynska, Nicky

Beutels, Natalie Blomme, Bart Blondeel, Killian

Bocquez, Riad Boumaza, Olga Bourtseva,

Jeffrey Broucke, Daniel Capriotti, Alain

Cauwenbergh, Alex Cazzato, Wesley Cicou,

Bruno Clybouw, Benjamin Coopman, Mo

Coudijser, Carl Criem, Jonas Crombez, Miguel

Crombez, Jorge Da Rocha Azevedo, Stijn

David, Mario De Baets, Jordy De Gheselle,

Tessa De Groote, Ingrid De Rechter, Robin De

Sutter, Johan Debruyne, Nathalie Decramer,

Jamie Delorge, Robert Deman, Diego Denoo,

Caroline Depuydt, Kim Desmet, Shelly

Dewachter, Fanny Dewanin, Christine D’Hont,

Waykin Duangsri, Jean Dumon, Yannick

Dupont, Jimmy Duriez, Steven Duyck, Frank

Ediale, Frederik Eecklo, Nizar El Ali, Karol Flak,

Krzystof Flak, Sandra Fleurinck, Ilona Franckx,

Daisy Gaillez, Anthony Gallez, Mansur

Gandalojev, Anke Geebelen, Frederik Gielis,

Olga Gliniecka, Piotr Gliniecki, Irineusz

Godlewski, Dylan Gouwy, Erik Haesendonckx,

Dieter Hamers, Zuki Hassan Adelsattar, Miguel

Hollevoet, Claudine Houck, Sylvie Hullebus,

Dave Huwel, Glenn Huwel, Lisa Igodt, Christa

Janssens, Yuri Jolnerevitch, Zoltan Jonas,

Fabrice Junion, Gari Justianz, Samuel

Kamdem, Burim Kastrati, Jagdish Kaur, Laura

Kenis, Kenneth Kooy, Joanna Kujawa,

Abdelaziz Labane, Gianna Labeke, Filip

Laleman, Peter Laseure, Katja Lebeuf, Lynn

Legein, Joke Lepeire, Massivi Lubaki, Jason

Lussaert, Shelly Lusyne, Marketa Madlova,

Brenda Maes, Joeri Malesys, Didier Martinat,

Danny Merchie, Stacy Mesuere, Axel

Meuleman, Luc Meulemeester, Stephanie

Moyersoen, Shana Mylle, Umair Naeem, Cherif

Nagga, Sylvain Nowakowski, Ruxandra Obreja,

Pete Onyekwere Chukwunyere, Dicky oppong,

Palenthiran Patmanathan, Olivier Peel, Zsolt

Petrak, Jean-Pierre Pierloot, Bjorn Plas, Michael

Poupaert, Gregory Prevot, Paul Quireyns, Veerle

Ramon, Bogdan-Ionut Rascol, Glenn Rogiers,

Didier Rosseel, Maxim Rosseel, Nick Rouzere,

Pol Sabbe, Khalifa Salek, Arno Samaey, Sairam

Saurshanova, Yves Scherpereel, Bram

Schoutteten, Jean Paul Semerindi, Khurram

Shahzad, Issa Sherzad Mohammed,

Hekmatullah Shirzad, Hugo Silva, Redgy

Simons, Anthony Slabbinck, Tom Slight, Xenia

Smirnova, Jose Soto-Nicolas, Ludovic

Speecke, Derek Stemgée, Rachid Taki,

Mohamad Theibich, Sebastien T’Jonck, Kevin

Van De Voorde, Yens Van Den Bergh, Franck

Van Der Heyde, Myckie Van Hove, Cedric Van

Huffel, Kenneth Van Nieuwenborgh, Frederick

Van Rapenbusch, Philip Vanacker, Sylvie

Vancoppenolle, Jules Vandamme, Andy

Vandekerckhove, Christiaan Vandenberghe,

Isabelle Vandenberghe, Frederik Vandenbrande,

Kenneth Vandeputte, Patrick Vandeputte,

Fabian Vanderheyden, Ellen Vanderpoorten, Jay

Vanhou, Rudi Vankerckhove, Rik Vanneste,

Pascal Vanroose, Steven Vansteenkiste,

Elisama Verheecke, Fabienne Verhelst, Sandy

Verhelst, Jacky Verlee, Marc Vermeire, Bart

Verschelde, Katrina Visnevica, Sven Vlamynck,

Patrick Volbrecht, Manu Volckaert, Linda Vyvey,

Thoi Willems, Kevin Windelinckx, Jeroen

Wybouw.

MAINFREIGHT TRANSPORT

GENT

Hassan Altay, Igance Arnou, Pedro

Avelino, Tim Baete, Abdellatif Birbouz, Pascal

Boulangier, Neil Calingaert, Stijn Cozijns,

Philippe David, Peter De Backer, Bruno De

Bruyn, Guy De Mey, Danny De Meyer, Mario

Demey, Marc Denecker, Patrick Devillers,

Erwin Diesaert, Nicolas Dubois, Kadir Durmus,

Dzhafer Dzheferov, Udo Engels, Kevin

Gailliaert, François Ghesquiere, Christophe

Goossens, Daniel Helsen, Quentin Jacobs,

Ronny Keuren, Daniel Klupczynski, Jozef

Kujawa, Oleg Logounovitch, Marc Marey,

Monaam Moknassi, Philemon Moyersoon,

Khenji Mylle, Walter Parmentier, Robert

Piredda, Lennert Poppe, Sandy Scy, Christian

Sergeant, Didier Sinnaeve, Farid Souaddi,

Marc Speliers, Jerry Synaeve, Joeri Van

Gansbeke, Jan Van Parijs, Carl Verhulst,

Danny Vermeulen, Marie-Christine Walravens,

Sander Xhajaj, Daniel Zonnekein.

MAINFREIGHT / SYSTEM PLUS GENT

Ine Caymax, Daniel Di Pardo, Ivo Leurs, Debby

Missfeldt, Karolien Orlandini, Eddy Stals, Brent

Sybers, Antonetta Trobbiani, Ronny Van Cauter,

Ann Vanhaeren, Tom Verlinden. France

MAINFREIGHT AIR & OCEAN LYON

Florian Delarboulas, Philippe Thomassin.

MAINFREIGHT AIR & OCEAN PARIS

Thomas Brieudes, Thibault Fressard, Laetitia

Gourmelen, Camille Laroche, Veronique

Sabatier.

MAINFREIGHT FORWARDING

LYON

Mathilde Gairard, Orlane Revellin

Falcoz, Erick Saes, Lea Sapino.

MAINFREIGHT FORWARDING PARIS

Martial Aberlen, Gregory Aucouturier, Damien

Barrault, Mohamed Belbachir, Nicolas Bertrand,

Marie Bissey, Martine Blandin, Stephane Bobu,

Caroline Cordier, Sylvie Costa Neves, Steeve

Dalaize, Damien De L’Espinay, Claude Delblond

Rene, Kevin Delaitre, Vincent Delpech, Marine

Deniau, Isabelle Denon, Tyler Derby, Elina

Desbat Malakhova, Thibault Detrouselle, Drissa

Diallo, Cedric Diarra, Nahida Djezzar, Jean Noel

Doko Bahonda, Paola Dos Santos Evora, Nadir

Dramsy, Clement Dupas, Florian Durand,

Jeremy Engelmann, Ludivine Franguides

Fontaine, Antonin Frayssinet, Yannis Girard,

Laurent Janniaud, Stephanie Jasmin, Youssef

Jdaini, Melodie Julien, Ahmed Kaissani,

Sebastien Labe, Thierry Lacoudray, Adel

Laidouni, Rodolphe Lenhart, Muriel Loube,

Dylan Maaroufi, Charles-Henry Maingard,

Abdoulaye Marega, William Marrion, Antoine

Maslyczyk, Faten Meite Essid, Thierry Moisan,

Thibault Moreau, Celine Munoz, Julien

Neuschwander, Franck Pardo, Emmanuel

Peccatte, Oceane Pereira, Raphael Pidecyan,

Bruno Pommier, Soda Ponn, Clemence Prive,

Robert Prunier, Eric Puyet, Yann Quenard,

Yannick Rodrigues Ribeiro, Arthur Roulier,

Jacky Rupaire, Naoual Teffah, Jody Tumba

Makinu, Julien Vieville, Damien Vesse.

Germany

MAINFREIGHT AIR & OCEAN

FRANKFURT

Severin Janus, Stefan Kickler,

Daniel Kirsch, Christian Kleis, Nicole Körner,

Leny Leinich, Sebastian Novak, Jean-Luc

Richter, Christiane Schäfer, Lena Schmidt,

Ioannis Siamanis, Maximilian Ziegener.

MAINFREIGHT AIR & OCEAN

HAMBURG

Tamara Dwenger, Danny

Dwenger, Matthias Sartor. Italy

MAINFREIGHT AIR & OCEAN MILAN

Giulia Colombo, Sara Di Fonzo, Cristian Milardi,

Giorgio Mongeri, Loris Parise, Valeria Ratti,

Emanuela Tedoldi. Netherlands

MAINFREIGHT AIR & OCEAN

ROTTERDAM

Chris Arnout, Mitchel

Barendregt, Marije Beliën, Ricardo Bello, Jason

Braid, Dermot Clark, Melvin Da Luz, Ronald den

Held, Nadia Diraa, Björn Febus, Cora Greven,

Michiel Hoekstra, Bert Hoepel, Monique

Kleijburg-Streefland, Laura Kuijpers, Mitchell

Lagendijk, Liselotte Lorenzo Sanchez, Maarten

Mol, Roushan Nohar, Lucy Partridge, Jake

Pascoe, Carlo Pons, Rhea Post, Remy

Rosendahl, Niels Stadthouders, Dion Tolenaars,

Arthur van Amen, Astrid van Dam, Veronique

Van den Berge-Peerboom, Yvonne van den

Berg-van der Hout, Angelique Van der

Spuij-Visser, Ramon Van Hek, Matthijs van

Herk, Nikki van Herk, Mariska van Shaik, Stijn

Vliegen, Jacco Wijker.

MAINFREIGHT AIR

& OCEAN SCHIPHOL

Arnold Bierma, Janis

Dislers, Raymond English, Jeroen Geerdink, Ian

Graham, Samuel Grootjes, Esmee Heuvink,

Daniel Joor, Rick Keurentjes, Gideon

Lioe-A-Tjam, Nic Matthews, Georgina

Shelton-Agar, Mels van Egmond.

MAINFREIGHT CROSSDOCK

‘S-HEERENBERG

Bodo Apmann, Chantal

Arts, Ibrahima Bangoura, Gert Beernink, Lucas

Berendsen, Twan Berndsen, Bas Besselink,

Bastiaan Besselink, René Bisselink, Diana

Bisselink-Disbergen, Harold Bosch, Daniël

Bouwman, Jeroen Bouwman, Tonny Buijl,

David Burkhardt, Piotr Chmielowski, Thorsten

Claassen, Bahri Coroz, Ramon de Bakker,

Musa Dellal, Osman Dincsoy, Sven Ehme, Gert

Essink, Robert Fricke, Derk Geersing, Bart

Giesen, Hans Hageman, Patrick Helmink,

Hayco Hendriks, Wilco Hendriks, Milko

Heurnink, Gerben Heymen, Stephan Horn,

Bennie Jansen, Kai Jansen, Poldien Keurntjes,

Erol Kilicdere, William Kniest, Dennis Konstapel,

Stefan Koolmees, Harald Kuhfuss, Levent

Kumurcu, Gerard Kupper, Mehmet Kurum,

Jeroen Lakwijk, Uwe Lamm, Henk Lammers,

Peter Langenheim, Pascal Lieon, Ronald

Luikink, Christian Mai, Frauke Mellendijk, Björn

Meunders, Martin Meyne, André Miguel,

Michael Neils, Mohamed Osman, Geurt Poel,

Meriam Rengelink-Bongers, Guido Roes,

Jeffrey Roes, Alexander Rudi, Rik Ruikes,

Richard Ruthers, Dorie Rutjes-Janssen, Umut

Sari, Boris Sestakov, Saban Sevimliay, Nick

Sewalt, Geert Steltjes, Joey Stinissen, Cor

Straub, Karl Heinz Tabatt, Richie Tatoglu, Hein

te Winkel, Dewi Tebeest, Cuma Temir, Sevket

Temir, Raymond ten Haaf, Mike ten Holder,

Annette Thiele, Etiènne Thies, Ralf Timmer,

Ercan Tuku, Jan Ursinus, Sebastiaan van Aken,

Jeroen van Broeckhuijsen, Ruud van Buuren,

Peter van de Kamp, Nico van den Heuvel,

Pascal van der Meer, Francis van Zelst, Lucas

Veenhof, Remo Verschueren, Willem Visser,

Pascal Wevers, Jozienne Wijngaarden, Marc

Wijnsema, Hennie Willemsen, Hatem Yaktemur,

Haci Yildirim, Arthur Zegstroo.

MAINFREIGHT CUSTOMS

CLEARANCE ‘S-HEERENBERG

Petra

Beumer, Angelo Daamen, Gerrie Heering,

Jacqueline Hendriks-Ras, Regan Hulsink,

Remilda Jansen-Mennings, Fred Martens,

David Pouwels, Peggy Reinders-van Koot,

Rieky te Grootenhuis-Hebbink, Bram Tromp,

Judyta Wieczorek.

MAINFREIGHT

FORWARDING ‘S-HEERENBERG

Rob

Aalders, Tonnie Abbenhuis, Serdar Baktir, Salih

Bal, Stefan Banning, Sylvia Bavelaar-Cowan,

Ina Beekhuizen-Roes, Pieternel Beekvelt, Tom

Benning, Roy Bergevoet, Jordy Bergman,

Marco Berndsen, Harriëtte Berndsen-te

Dorsthorst, Edith Bijenhof-Wevers, Rianne

Bisseling, Yvonne Bleekman, Robin Boeijink,

Tanja Bondarchuk, Boudewijn Bongers, Stefan

Bongers, Hans Bruggeman, Jeroen Bruil,

Robert-Jan Bruil, Randy Bruns, Iuliia

Bruns-Klepikova, Gerda Buffinga-Feddes, Rifat

Bugdayci, Ilke Bultink, Maikel de Graaf, Janita

de Jong, Jeroen de Lange, Bob de Ruijter, Bart

Decnop, Jordy Dellemann, Mirthe Dellemann,

Menno Diepenbroek, Tania Donis Psarou, Mirjan

Donkers-Liebrand, Ivo du Plessis, Muhammed

Durucan, Marcel Duvigneau, Max Ebbers,

Corrie Ederveen, Margo Eijpe-Stoverinck, Ron

Enzerink, Clemens Farwick, Mark Feukkink,

Anton Frauenfelder, Danja Frauenfelder, Yoram

Frauenfelder, Ceriel Frensen, Leander Geelen,

Michael Gersjes, Anne Giesen, John Giezenaar,

Hans Groothuis, Tamara Hakfoort, Ylaine

Hansen-Böhmer, Jaimy Hartjes, Wessel

Heezen, Jesper Heijkoop, Patricia Heijnst,

Marieke Heinen, Eddy Heister, Gerry

Helmink-Steinvoort, Niels Hendriksen, Joost

Hermsen, Anouck Hesseling, Wilco

Hogenkamp, Sonja Holstein-Reumer, Ramon

Hueskes, René Inkenhaag, Amar Jaggan, Cindy

Jansen, Lars Jansen, Wouter Jansen, Koen

Janssen, Douwe Kaastra, Pargol Kashani

Nejad-Azarbad, Dora Kasper, Hans

Kloosterboer, Aaron Kock, Miranda

Kock-Augustijn, Wim Konings, Linda Korteweg,

Rut Koster, Marcel Kramp, Rien Kranen,


Sierra Krawiec, Pascal Kuiper, Ellen

Küppers-Kolkman, Nikky Langkamp-van

Veluwen, Ivan Larsen, Erik Leijgrave, Bas

Lentink, Mirjam Lieven, Cilia Lorx, Tanja

Loskamp-Verstegen, Angelique Lovink, Berni

Luimes, Jurgen Lukassen, Marloe Maalderink,

Joep Marissink, Jos Marissink, Monica

Marissink-Jansen, Ferdinand Massop, Nicole

Messing-Liebrand, Sem Methorst, Lex

Miechels, Kasia Mierzwinska-Donck, Antonie

Moonen, Gerben Müller, Peter Nagel, Rosie

Neervoort, Stef Nijdeken, Chris Nijland, Kim

Notten, Frank Overgoor, Jordi Overgoor, Cilia

Peters-Boerboom, Kees Plantinga, Esther

Pol-Bolwerk, Djaran Polman, Marijn Pothoff,

Ronald Putman, Reinoud Reesink, Harmen

Rijks, Bryan Roelofsen, Pepijn Rosendaal,

Margo Rottger-Goorman, Tamme Sanders,

Jeroen Schuurman, Jitske Schuurmans, Jack

Schweckhorst, Anita Seegers, Ronnie Sessink,

Marloes Siemes, Silvia Siemes-Aalders,


Rob Silvius, Anneke Slotboom-Meulenbelt,

Martin Sluyter, Mike Sommers, Yvonne

Sommers-Böhmer, Amanda Sonneveld-Lents,

Angelique Stefas-Vinkenvleugel, Aydé Sterk,

Daniël Suvé, Lian te Luke, Willem-Jan Teitink,

Eyüp Temir, Rob ten Bhömer, Karin Timmerman,

Jean-Baptiste Topenot, Giovanni Tornabene,

Ruud Tousain, Nick Trentelman, Marga van

Brandenburg, Rob van Bueren, Suzanne van

Dam, Femke van de Zand-Janssen, Sjoerd van

den Bos, Luc van der Horst, Guus van der

Stelt, Joost van Gaalen, Jet Van Haaren-te

Dorsthorst, Helga van Manen, Danny van

Oostveen, Harald van Schooten,


Elles van Veen-Winkel, Winfried van Vessem,

Sebastiaan van Wageningen, Joost Verdouw,

Fred Verholen, Roy Verploegen, Nick Verweij,

Lammert Wanders, Martine Wegenhousen,

Natalie Weijenbarg-Bos, Niek Wenink,

Annemieke Westerhof-Aalders, Melvin

Westerveld, Mark Wevers, Kay Wijkamp, Erwin

Willemsen, Alex Wilmans, Cissy Wingelaar,

Sander Wolsink, Oktay Yalcin, Frans Zuidgeest.

MAINFREIGHT HOLDING

‘S-HEERENBERG

Aron Aaldering, Nassim

Ait Bahaouidder, Arjan Albers-Weijermars,

Anne-Kim Alserda, Danielle Arendsen, Bram

Assendorp, Lydia Baars-Kuster, Leon Bakker,

Wesley Banis, Jules Barten, Donna Bekker,

Sabrina Ben Haddou, Wiecher Berghorst,

Raymond Beskers, Annelies Bijsterbosch-van

Leeuwen, Elif Bilici, Bjorn Bleiij, Leon Bleumink,

Silvia Boerakker-Jansen, Rico Boerboom,

Marianne Boschker-Boom, Courtney Bould,

Lieke Brom, Jeroen Bruggeman, Ilona

Brugmann, Marten Brunner, Wim Buijzert,

Chow-Ling Chong, Jurriaan Cijsouw, Saskia

Daams, Aris de Fijter, Maarten de Graauw,

Robin de Kock, Marie-Louise de Kruiff, Dinie

Dijkman-Reessink, Arjen Drent, Nicole

Driever-Ruess, Marjo Egging, Leroy Elderman,

Sander Elfring, Thomas Elzing, Michel Engel,

Theo Engelen, Niek Essink, Ben Fitts, Rico

Franssen, Jeanette Frauenfelder-Frazer, Mike

Freriks, Rosite Frielink-Gerrits, Joost Froeling,

Marise Gerritsen-Zwetsloot, Karolina

Gorczynska, Rosanne Gregoor, Chiel Hesseling,

Sebastiaan Holleman, Monique Holleman-

Oudhuis, Robin Hoogenraad, Arthur

Hoogsteder, Ilse Jansen, Berry Janssen,

Jonnes Jeuken, Robert Jochoms, Wilma

Kloosterboer-Bisselink, Jan Kniest, Wilfrank

Knuiman, Evie Koolenbrander-Tinnevelt, Stina

Kristiansson, Devlin Krul, Willy Kuiper, Shauny

Küppers, Marèl Leferink Op Reinink, Mike

Lelivelt, Mulugeta Mandefiro, Astrid

Martens-Verbeeten, Petra Massop, Lisan

Moorman-Wielheesen, Stéphanie Moyersoen,

Jan Willem Navis, Frederike Nordin, Silvan

Obelink, Marshella Oosterbeek, Anette

Overgoor, Jonathan Ras, Maarten Reumer, Rudi

Rietman, Anita Roelofsen-Besselink, Christian

Roeterink, Thijs Römer, Nardie Rosendaal-

Verweg, Sandra Ruikes, Jürgen Schuimer,

Annelies Spaan, Jessica Speelman, André

Sprenkeler, Angelique Steinvoort-Remijnse, Giel

ter Beek, Emiel Teunissen, Monique Tuenter-ten

Holder, Marc van Aalst, Nick van Benthem,

Jelmer van Bergenhenegouwen, Gert van

Dalen, Jules van de Pavert, Ralf van de Pavert,

Pascal van der Spek, Rob van der Zee, Martijn

van Dongen, Eddie van Gerven, Tom van

Haperen, Joost van Leijen, Nena van Londen,

Coco van Megen, Erik van Ringelenstein, Aart

van Silfhout, Claire van Welzenis, Bogdan

Vasile, Marco Veenstra, Ilona Verheij-Geerts,

Rob Verheijen, Kristel Verheul, Sandy

Wielheesen, Michèlle Willemsen.

MAINFREIGHT LOGISTICS BORN

Wichard Achten, Ingo Bergmans, Roald Bosch,

Riana Brauwers-Bening, Sven Bronkhorst, Sare

Cevik, Marta Clerkx, Richard Cords, Jos Cox,

Ton Cuijpers, Vivian Daniëls, Mark de Boer, Kevin

de Graaf, Marvin de Kok, Mariëtte Debets,

Marcel Destreel, Ton Dewaide, Martin Dobro,

Geert Eummelen, Anita Everaerts, Jeroen Evers,

Bart Fischer, Ron Frijters, Peter Grammé, Hans

Graus, Jos Habets, Eddy Hermans, Thom

Heslinga, Joselien Hoen-Adams, Werner Hoofs,

Anke Jacobs, Nigel Jacobs, Mischa Jansen,

Ferno Keesmeekers, Fred Kosack, Arno

Kuijpers, Mike Lemmens, Stefan Maas, Sharon

Maassen, Maurice Makhaisingh, Adri Meesen,

Eno Mobers, Rabija Nedzibovic, Jan Nijssen,

Menno Nouwen, Ger Nuijes, Fred Paas, Clasina

Peeters, Michel Pierik, Lesley Raadschelders-

Wouters, Frank Ramakers, Timo Reinink,

Liesbeth Reyskens, Norman Ridderbeekx, Chris

Roering, Adam Rogatzky, Andre Schmidt,

Maarten Schneider, Ger Schröder, Karl

Schubert, Frank Senden, Anke Smits, Marlies

Soetelmans-Gerits, Pascal Stoffels, Silvia Tuwet,

Ronny van Cauter, Rien van de Ree, Martijn van

der Helm, Ton van Dorst, Yin Van Meegen-Lin,

Jelle Van Riesen, Roger Vliex, Kevin Wagemans,

Louis Wijnen, Monique Wolffs, Nico Wuyts, Rob

Zonneveld.

MAINFREIGHT LOGISTICS

‘S-HEERENBERG

Mihai Ababei, Enver

Aktaran, Ali Al Jubury, Stef Althoff, Yilmaz

Ayhan, Wilbert Bach, David Baranowski, Maciej

Bartoszewicz, Sven Baum, Marcel Bax,

Marianne Becker-Niersmann, Melvin

Beekhuizen, Lukasz Bejma, Koen Bekkers,

Dennis Berends, Hans Berendsen,


Toon Berntsen, Christiaan Besselink,

Dick Betlem, Jeroen Bieleman, Andre Biermann,
Thomas Bijl, Musa Bilici, Hans-Peter Bisseling,

Patricia Blanken-Epskamp, Ivana Bloksma, Denise

Boerboom, Eric Boerboom, Tonny Bomers, Sverre

Bonaparte, Jelke Braem, Sander Brands, Danny

Brinkhorst, Maurice Brinkman, Manon Broekhuizen,

Willem Bronsema, Detlef Brucks, Bryan Bruins,

David Buijl, Susanne Buiting, Bernard Bularca,

Hannie Bulten-Tijken, Andrei Burlacu, Jimmy Bus,

Roy Campschroer, Wi Chaisim, Joanna Ciurkot,

Jeannette Clarke, Nigel Clarke, Silvano Coco, Martin

Coenen, Geert Colenbrander, Kaylee Couzijnse,

Annemiek Dahles, Erik Dalenoord, Edith Damman,

Hilbrand de Boer, Raymond de Ronde, Niek de

Vries, Tim den Heijer, René Derksen, Petra Derlagen,

Gudrun Dirlich, Bernadett Dombai, Nicole Donders,

Thomas Driessen, Martin Duriska, Marco Eding,

Hannie Eggink, Milo Eijs, Toon Elting, Jesse Esman,

Sarieke Ewes, Boleslaw Falecki, Selynn Fiering,

Jean-Gérard Fifis, Danielle Fifis-Oudbier, Jeffrey

Forterie, Adrian Frencek, Rob Frencken, Daniel

Fritzsche, Sander Geerts, Saikhan Gekhayev, Tina

Gerritzen, Edwin Geurts, Marcella Gielens, Iris

Gijsbertsen, Krzysztof Gnacinski, Barry Goöle, Sjoerd

Goorman, Patrick Goossen, Ronnie Gotink, Jolanta

Grynfelder, Gökhan Güler, Soran Hady Ali, Anouk

Harbers, Andre Hardeman, Anke Harding, Alexander

Harmelink, Robbin Hartemink, Detlef Hawranke,

Marcel Hazeleger, John Hegeman, Arjen Heijboer,

Edwin Heijnen, Juliane Hein, Dennis Heinrich, Leon

Heister, Nick Helmink, Jeanette Hendriks, Anouk

Hendriksen-Evers, Willie Hermsen, Peter

Hetterscheid, Derk Heuvelink, Sara Higgins, Johnny

Hilderink, René Hill, Billy Ho, Danny Hoksbergen,

Berry Holleboom, Bianca Holtslag, Esther Houtman,

Gyorgyi Hrabecova, Patricia Hucovicova, Richard

Huisman, Laura Hunting, Jeroen Jansen, Mathijs

Jansen, Michel Jansen, Ingo Janssen, Milo Janssen,

Gerrie Jeene, Stefan Jozefik, Patrik Juhasz, Matthie

Kaak, Lars Kalinski, Hubert Kamphuis, Iryna

Kamphuis, Holger Kasimir, Piotr Kawczynski,

Christina Keller, Oksana Keller, Eline Kemmeren,

Rogier Kerner, Anna Kersten, Karen Keuben, Jan

Kieft, Edward Kingma, Danielle Kip, Nico Klein

Wolterink, Berry Kluitmans, Judith Kniest, Rob

Kobesen, Niels Kok, Emiel Koops, Tomasz

Koprowicz, Joanna Korevaar, Alan Kort, Christian

Koskamp, José Koster, Arjen Koudijs, Anna Koziol,

Jakub Koziol, Peter Kraps, Simon Krawczyk, Lisanne

Kruiniger, Adam Kupczynski, Krzysztof Kurek, Paul

Kuster, Piotr Lagiewka, Jarst Lammers, Aneta

Langer, Astrid Lankreijer-Maas, Kim Le, Michel

Lenderink, Dariusz Lenz, Corinne Lepine, Pauline

Leunen, Christian Leurs, Andy Leuvenink, Joost

Liebrand, Nicky Loeve, Twan Loeven, Dariusz

Longer, Richard Louwe, Erwin Lubbers, Eefje

Lucassen, Bas Maarse, Linda Maquine, Marcel

Marencák, Krzysztof Markowski, Lajos Markus,

Andreas Martens, Aafke Mateman, Johnny Maurick,

Gerbert Medze, Henrik Meelen, Melvin Meijer, Tom

Meijer, Arjen Meijering, Lucia Meliskova, Sergio

Mendonca Pereira Vaz, Sander Mengerink, Tomasz

Mertka, Andre Meuwsen, Mateusz Mietkiewicz, Hetty

Mulder-Plasschaert, Nadine Muller, Richarda

Nap-van der Zee, Roan Neervoort, Mike Neidhöfer,

Grzegor Niedzielski, Gabi Niersmann, Jurjen

Nijkamp, Jessy Nijman, Martyna Nojfeld, Katarzyna

Norek, Jarno Nuijen, Thomas Obermeit, Adam

Ociepa, Karolina Ociepa-Zawada, Piotr Parszeniew,

Tjort Peeters, Danny Peters, Erwin Peters, Henk

Peters, Maik Peters, Wim Peters, Wouter Peters,

Liane Philipsen, Andre Piotrowski, Pawel Plewka,

Claudia Plucker, Roy Polman, Raphael Quitsch,

Anna Radosavljevic, Pascal Ratering, Frauke Reijmer,

Wietske Reijmer, Joop Reitsma, Miko Rengelink,

Konny Rennings, Bertie Reumer, Tamara Ribbers,

Ferdie Robben, Martina Rödel, Petra Rodewald,

Franck Roodbeen, Harry Röttger, Joyce Ruesink,

Michal Rusewicz, Braulio Salgueiro Gonzalez, Loek

Sanders, Dominik Sankowski, Eqbal Sarwari, Iris

Saulus, Marco Schaap, Vincent Schilp, Frank

Schmidt, Sandra Schneider, Elena Schokkenbroek,

Bram Scholts, Dominique Schonewille, Jürgen

Schöttler, Betsie Schuurman, Marc Schwittepper,

Krzysztof Sedlak, Dawid Serafin, Gerben Siebes,

Hennie Siebes, Radoslaw Siennicki, Suzanne

Sigmond-Coops, Daisy Sio, Tonny Smeenk, Harrie

Smit, Erwin Smitjes, Juste Sneideraityte, Niels

Snelder, Ruben Snippe, Monika Sobczynska, René

Spaan, Anita Span, Magda Sromek, Monika

Steil-Witzger-Knautz, Andreas Steinvoort, Ilse

Steverink, Tom Steverink, Tonny Stoffels, Chris

Striekwold, Maria Strous, Milena Sugalska, Szymon

Szymkowski, Hans te Grotenhuis, Joost te Stroet,

Laura te Welscher, Sjoerd Teerink, Mustafa Temir,

Maurice ten Bensel, Marc ter Heide, Hermien

Tiessink, Barbara Tkocz, Joost Toren, Emma

Tothova, Jennifer Tueck, Jens Tuijten, Stephan Uenk,

Meho Usubjan, Rustem Usubjan, Rob van Aken,

Koen van Alst, Cheriva van de Pol,


Britt van de Weerd-Roenhorst, John van den Berg,

Martijn van den Berg, Roel van den Hoogen, Jill van

den Oosterkamp, Herre van der Laan, Bertus van

der Pavert, Eric van der Pol, Tom van der Stelt,

Reina van der Til, Wouter van der Toorn, Chris van

der Veen, Sjors van der Velde, Wilfried van Dulmen,

Bianca van Dun, Stefan van Gemmern, Roy van

Gendt, Job van Gessel, Roger van Ginhoven, Adrie

van Haaren, Maureen van Haren, Ceryl van Hasselt,

Ferdinand van Hilst, Yngwie van Hummel, Patrick

van Lavieren, Alex van Moerkerk, Helena van

Rooijen, Melanie van Saase, Remy van Voorbergen,

Jos van Wessel, Janneau van Wissem, Roel

Veenstra, Matthew Verberk, Daniela Veuger-

Ardelean, Remco Visée, Jan Visser, Jac Vlaminckx,

Angela Vrendenbarg, Maik Wagensveld, Sascha

Wagner, Erik Wallinga, Anouk Weijkamp, Rick

Weikamp, Dorien Wenting, Daniela Werdelmann-

Nöthe, Gerbrand Wesselink, Fiona Westerveld,

Wesley Willems, Bas Witjes, Tim Wittenhorst, Mattijn

Witteveen, Kristina Witteveen-Hörsch, Patrycja

Wolczyk, Bart Wolkenfelt, Raymond Wolters,

Herman Wuijster, Emirhan Yorulmaz, Gytis

Zabramskas, Silvia Zahoreczova, Bartlomiej

Zaremba, Alessia Zicolella, Hidayet Zorluer, Osman

Zorluer, Michal Zurek.

MAINFREIGHT

LOGISTICS ZALTBOMMEL

Gonzalo Ahumada,

Michael Beekwilder, Davide Casti, Richard Clappers,

Paul de Bie, Tamara de Bie-Willemsen, Pato

Espinoza Vasque, Roy Janssen Bouwmeester, Floris

Proost, Servet Sahin, Bob van der Valk, Arno van

Leeuwen, Priscilla Voskamp, Rémon Weerwag.

MAINFREIGHT TRANSPORT

‘S-HEERENBERG

Koos Aaldering, Jerry Aarsen,

Marc Aarsen, Diana Abbenhuis-Siroen, Theo Alofs,

Jhonny Amting, Freddie Anneveld, Sven Baars, Wilco

Bannink, Torsten Becker, Aart Bendeler, Remco

Berndsen, Ivo Bod, Manon Boekelder, Luke Bos,

Johan Bötzel, Gerald Braam, Joan Brink, Arno

Broekhuizen, Ton Broekhuizen, Michel Bruntink, Mark

Buijl, Gerjan Bulten, Shawn Bultink, Herman Bussink,

Bülent Cavlun, Arnoud Coenradij, Gerrit Cornelissen,

Roy Cornielje, Mustafa Coskun, Rinus de Jong,

Quando de Man, Hemmy de Reus, Rudi de Vries,

Theo Deijnen, Bert den Brok, Thijs Derksen, Jeroen

Dieker, Paul Dieker, Wim Driessen, Jeffrey Duinmaijer,

Jo Duis, Olaf Eenstroom, Marc Elting, Hans Engelen,

Ramon Engelen, Martin Essink, Corine

Evers-Karsten, Jesse Feukkink, Tommy Firing, Patrick

Fleuren, Koen Geerts, Jan Geertsema, Remco

Gerritsen, Donny Gerritzen, Stephanie Giesen, Jeroen

Giezen, Cemil Gönc, Arjan Greven, Niels Haegens,

Simone Haegens-van der Sluijs, Niek Hansen,

Remco Harleman, Erik Jan Heijkoop, Debora

Heilbron, Stefan Heitink, Bas Hermsen, Jasper

Hieltjes, Ronny Hoefman, Henk Holtland, Hans

Holtslag, Sjaak Huiskes, Gijs Hunting, Jurgen Huying,

Dennis Jansen, Frank Jansen, Frans Jansen, Gerald

Jansen, Robbin Jansen, Wouter Janssen, Laura

Jentink, Herman Jolink, Gepko Jonker, Henk

Kamphuis, Danny Karsten, Hennie Karsten, Zoltán

Kecskeméti, Fons Keijser, Frank Ketelaar, Jeroen

Kniest, Jordy Kniest, Raymond Kock, Fred Kolkman,

Sander Korten, Mehmet Kozan, Bert Krijger, Erik

Lammers, Wygle Liebrand, Harrie Ligtvoet, Kevin

Loef, Harrie Lucassen, René Luijmes, Casper

Lukassen, Hishem Maksoud, Dennis Marschall, Frank

Medze, Arjan Meijer, Emiel Meijer, Britt Mennink, Lars

Mennink, Marco Menting, Natalie Menting-Helmink,

Benjamin Mulders, Hakija Nekic, Edwin Nienhuis,

Harm Nijland, Barry Notten, Henry Oosterdijk, Marcel

Peppelman, Willem Pietersen, Sonny Plaisier, Rob

Polman, Jurre Post, Thomas Prinsen, Rob Punte,

Herwin Rabbers, Henk Reindsen, Niels Rekveld,

Regina Riggeling, Alex Rissewijck, Léon Robbe,

Erwin Roelofs, Frank Roelofzen, Sven Romp, Sandy

Rossel, Erik Ruesink, Mark Ruesink, Maurice

Ruesink, Roland Ruesink, Johnny Ruikes, Arno

Rutten, Rob Rutten, Enrico Sabajo, Pascal Sas,

Laurens Schepers, Koen Schreur, Nick Schürmann,

Rob Schürmann, Bennie Schut, Bertus Schuurman,

Theo Schuurman, Jimmy Sewalt, Maik Sewalt, Nico

Sewalt, Mark Sloetjes, Jan Smits, Willem Smits, Chris

Spaan, Piet Speet, Ramon Starink, Harry Stevens,

Michiel Sturrus, Joël te Dorsthorst, Sietse te Mebel,

Fred te Wiel, Frank Tempels, Rick ten Have, Henri

Tenten, Jeroen ter Beest, Marcel ter Heerdt, Bertil ter

Maat, Mart Terhaerdt, Bjorn Theijssen, Herman

Tieltjes, Bobby Timmermans, Dirk van Boggelen,

Frank van de Kamp, Marcel van de Wetering, Theo

van den Berg, Timo van den Bos, René van den

Broek, Ewald van den Heuvel, Sven van der Poel,

Jeroen van der Rijst, Jos van der Zwet, Tom van

Doorn, Joost van Eerden, Jurgen van Eerden, Kees

van Grootveld, Wouter van Hartskamp, Gerard van

Heeswijk, Wilfred van Kippersluis, Luc van Marwijk,

Hans van Niekerk, Maurice van Ree, Tom van Ree,

Marco van Remmen, Sander van Schie, John van

Soelen, Rutger van Toor, Maren van Uhm,


Niko van Uhm, Jacques van Uum, Diana van

Waardenburg, Mark van Wessel, Ronald Venhoeven,

Björn Visser, Edwin Vrogten, Jan Wassink,


Joop Wassink, Rien Wassink, Rutger Wassink, Bas

Wensink, Henk Wentink, Wilko Wiendels, Richard

Wienen, Jeroen Wierbos, Quint Winters, Ron

Winters, Wilfried Wolbring, Seydi Yanardag, Sakir

Yilmaz, Ruben Zegers. Poland

MAINFREIGHT

AIR & OCEAN WARSAW

Agnieszka Bartnicka,

2H[HYa`UH+LPULRV7PV[Y+LQ[YV^ZRP7H^Lé

9\[RV^ZRP4HYJPU:RVY\WRHè\RHZa>`ZaRV^ZRP

MAINFREIGHT KATOWICE Sabina

)Y`UPHYZRH:éH^VTPY2HJaTHYLR2HYVSPUH2HZa`JH

9HMHé4HJPHZaLR(SLRZHUKYH4HUKLS4H[L\Za

Mycak, Patrycja Piotrowska, Agnieszka Ratajczak,

Pawel Skrzek, Jakub Warda, Sabina Wójtowicz, Filip

Wolanowski.

MAINFREIGHT POZNAŃ Agata

-HQMLY2YH\aL)HY[VZa2PLéIV^PJa2HYVS4PJRPL^PJa

4HYJPU5HNVKaPljZRPè\RHZa7é}JPLUUPR7YaLT`ZéH^

Sas.

MAINFREIGHT PRUSZKÓW Robert

)HQRV^ZRP;VTHZa)HYHljJa\R+HYP\Za)HYHljZRP

Andriy Bartkiv, Jan Bednarczyk, Ilona Berne, Konrad

Bieledna, Adrian Bladowski, Izabela Bonderska,

Patrycja Bor, Agnieszka Brymerska, Paulina Cabaj,

2SH\KPH*OYVTPLJ:[HUPZéH^*OY\Z[U`AKaPZéH^

*OY\Z[U`9`ZaHYK*P\Y\Nj;VTHZa*aLRHSZRP

(SLRZHUKLY*aLY^PljZRP7H\SPUH+ǃIYV^ZRH

2Ya`Za[VM+ǃIYV^ZRP7PV[Y+HéLR9\ZSHU+PRO[PHY

(Y[\Y+VTaHS2Ya`Za[VM+Y}ǏKǏ4HYLR-HIPZPHR

7H^Lé-PSPWLR9VTHU.HIY`S(NH[H.HéHU4HYJPU

.HaL4VUPRH.HaL+HYP\Za.éHKRP4PJOHé.TP[Y\R

7H^Lé.VaKHSZRP3\KTPéH.YV[+HYP\Za

.YaǃKaPLSL^ZRP9HMHé.YaǃKaPLSL^ZRP(UKYaLQ

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2VTWHUV^ZRP>PLZéH^2VUPR7H^Lé2VWLJRP

Krzysztof Korczak, Renata Korytkowska, Aneta

2VZZ\[1HJLR2V^HSL^ZRP9HMHé2V^HSPR1HYVZéH^

Kowalski, Marek Kucharuk, Andrii Kudryk, Witold

Kurek, Dariusz Kusztal, Adam Lach, Piotr Lesiecki,

Piotr Maciejczak, Dmytro Makagonov, Arkadiusz

Makówka, Adam Makowski, Mariusz Malec, Andrzej

4HUKaPljZRP9HMHé4HYJa\RAIPNUPL^4HYJa\R2HYVS

4PSSLY2H[HYa`UH4PYNVZ)VSLZéH^4\Za`ljZRP7PV[Y

Nawrocki, Maksym Nikaniuk, Marek Olek, Tomasz

6SLZPljZRP0OVY6SPPU`R9HMHé7HURPL^PJa@\Y`

Pavalanski, Volodymyr Pavlyk, Zbigniew Pawlak,

4H[L\Za7HaPL^ZRP.YHǏ`UH7Pǃ[RV^ZRH-YHUJPZaLR

7PJOUHY+VTPUPR7PL[Ya`RAKaPZéH^7PL[Ya`R,^LSPUH

Podgórska, Arkadiusz Pokora, Kamil Polowczyk,

Bohdan Prytula, Roman Prytula, Krzysztof

Przyborowski, Marta Przybylska, Karolina Pyrzewicz,

Marcin Pytel, Bogdan Rakowski, Agnieszka

Raunmiagi, Roman Reluga, Adam Romejko, Robert

9VǏUPLJRP;VTHZa9\KaRPAIPNUPL^:LQKH)HY[VZa

:LJR:PLYOLP:OLUKaLY(UKYPP:O[VOY`U7PV[Y:RPWVY

(YRHKP\ZaNJS\ZHYa9HMHé:VIVJPljZRP4PJOHé

:VWHljZRP7PV[YNJ^PLJ[VJOV^ZRP:`S^LZ[LY:aSLUKHR

=LS9`IHR)HY[éVTPLQ:aVJPljZRP.YaLNVYa

Szymanek, Mariusz Teluk, Wojciech Tokarz,

(YRHKP\Za;VTJaHR1HYVZéH^<SL^PJa=HSLY`

Vabishchevich, Bohdan Voloshyn, Andrii Vovk,

Hanna Walkowiak, Piotr Walkowiak, Joanna

>ǃZV^ZRH/LUY`R>LILY/\ILY[>PNjUPL^ZRP

Bogdan Witanowski, Katarzyna Wodowska, Piotr

>VSHljZRP9`ZaHYK>VSHljZRP7H^Lé>`WPQL^ZRP

,SǏIPL[HAHNYHQLR6SLRZHUKYAHROHYRV4HYJPU

AHTVQZRP2Ya`Za[VMAH^VQLR:[LMHUAPLSPljZRP

Romania

MAINFREIGHT FORWARDING

CLUJ-NAPOCA

Daniel Razvan Albu, Tamas

Arpad Both, Clara Cerlinca, Roxana Chiriac,

Gheorghe Ciobanu, Csongor Peter Deak, Marius

Ionut Dinca, Denise Laura Duduiala, Maria Claudia

Holunga, Paul Vlad Lucea, Alexandrin Macavei,

Flaviu Moldovan, Silviu Moldovan, Delia Pasztor,

Victor Petrindean, Razvan Tiberiu Rus, Roxana

Suciu, Sergiu Vasile Suciu, Robert Gyorgy Vajas,

Eniko Varga.

MAINFREIGHT FORWARDING

PLOIESTI

Marius Alexandru Albu, Razvan

Apostolescu, Mihai Ardeleanu, Andrei Bajenaru,

Alina Elena Barbu, Loredana Barbu, Rodica Vochita

Beju, Monalisa Nicoleta Bordeanu, Dan Claudiu

Bucurescu, Roxana Adriana Bunea, Alexandru Ion

Carbuneanu, Nicoleta Mariana Cazacu, Mihaela

Cernat, Ion Mihail Constantin, Gheorghe

Constantinescu, Gabriel Razvan Corciu, Andreea

Cozma, Ana Maria Craciun, Liviu Mihai Culea, Iulia

Dinu, Viorel Dosaru, Nicoleta Duta, Georgian

Laurentiu Ene, Iulian Florescu, Cristina Georgeta

Florian, Ionut Sebastian Ghinescu, Marian Gojnea,

Ioana Carla Grigorescu, Dragos Aurel Hornaru, Ionut

Alexandru Iacob, Nadia Mihaela Ilie, Alexandra Ilina,

Emil Nicolae Ion, Daniela Ionita, Lorena Gabriela

Jianu, Dan Maftei, Viorel Alin Manaila, Camelia

Mares, Lucian Mazare, Marian Bogdan Mihalcea,

Sebastian Mihalcescu, Virginia Minea, Mihai

Alexandru Neamtu, Ecaterina Maria Negulescu,

Andrei Nicolae, Florian Alexandru Panait, Sorin

Costin Panait, Cosmin Mihai Paturan, Gabriela Paun,

Georgiana Ana Maria Radu, Alexandru Lucian

Rujoiu, Alina Roxana Rusu, Irina Georgeta Stan,

Adrian Stanila, Justina Stanila, AnaMaria Rodica

Stoica, Mugurel Doru Tilimpea, Simona Mariana

Unger, Cosmin Ionut Ungureanu, Anca Beatrice

Vasile, Constantin Vasile, Irina Voivozeanu, Andra

Mihaela Zahiu.

MAINFREIGHT LOGISTICS

PLOIESTI

Crina Andreea Adiaconitei, Gheorghe

Anton, Cornel Apostol, Florin Petrisor Apostol, Maria

Avram, Ramona Georgiana Avram, Catalin Balalia,

Aurel Florian Ben, Marin Marius Bivolaru, Lucian

Valentin Boboaca, Vasile Boitan, Adrian Bratu,

Georgiana Laura Bruma, Razvan Costin Brumarescu,

Viorel Bucur, Ion Bunea, Vasile Butarus, Octavian

Danut Buzaru, Cristian Ionut Calin, Constantin

Catanescu, Mihai Catescu, Ion Costache, Nicoleta

Elena Diaconu, Petre Lucian Dita, Alexandru Cristian

Dobre, Valeriu Dobre, Alexandru Doican, Ion

Dorobantu, Ioan Dragan, George Cristian Dumitru,

Sorin Catalin Enache, Aurelian Ene, Emilian Faniciu,

Cosmin Filip, Tudor Constantin Florea, Ionut Adrian

Fratila, Marian Adrian Gheorghe, Constantin Ghita,

Neacsu Golea, Adrian Grigoras, Simona Guster,

Adrian Mihai Hagiu, Razvan Virgil Ioanitiu, Nicolae Ion,

Silvia Ionescu, Alexandru Silviu Ionita, Constantin

Mircea Ivan, Danut Catalin Lepa, Vasile Luca, Petrica

Daniel Manaila, Irinel Mares, Constantin Marian

Manole, Adrian Marin, Stefan Maslina, Mihai Matei,

Ion Gheorghe Mihalcescu, Marcel Moise, Viorel

Motoc, Florin Muscalu, Constantin Neagu, Stefania

Neagu, Dialisa Alexandra Neata, Ion Nica, Adrian

Niculescu, Dragos Constantin Niculescu, Marian

Niculescu, Ionut Nistor, Bobi Oprea, Marius

Constantin Pana, Andrei Paun, Cristian Constantin

Pavel, George Mihai Alexandru Pavel, Nicolae Iulian

Petcu, Emil Petre, Mircea Marian Petre, Iulian Catalin

Popa, Constantin Popa-Marin, Mihai Alexandru

Popescu, Vasile Popescu, Liviu Viorel Racasanu,

Gabriel Constantin Radu, Adrian Romeo Rosu, Ionut

Sandu, Nicusor Daniel Scarlat, Robert Eduard

Stanciu, Vasile Stanciu, Dumitru Adrian Stoian, Adrian

Stoica, Elena Doina Stoica, Nicolae Stroe, Alexandru

Tache, Catalin Timceag, Mihai Eduard Tone,

Alexandru Tudor, Aurel Tudor, Cristinel Tudor,

Constantin Gabriel Ungureanu, Constantin Eugen

Voicila, Nicolae Eduard Voinoiu, Dumitru Zemoiu.

MAINFREIGHT TRANSPORT PLOIESTI

Valeriu Marius Avram, Livius Florentin Calinescu,

Ionut Cosmin Cursaru, Gheorghe Cristian David,

Neculai Fronea, Adrian Constantin Guiu,

Gheorghe Iancu, Cristian Ivan, Dumitru Pertea,

Nicolae Viorel Pirvu, Cornel Radu, Iulian

Alexandru Rotaru, Marin Anghel, Cristinel

Apostol, Constantin Avram, Sanda Avram, Stelian

Silviu Avram, Florin Irinel Baciu, Constantin

Badaran, Valentina Luiza Badea, Iulian Gigi

Banica, Pandele Barbulescu, Mugurel Ciprian

Bejan, Adrian Ionut Bocan, Ilie Bolanu, Ion Iulian

Bolanu, Constantin Bonciu, Ilie Costin Bostina,

Gheorghe Calin, Ion Ceapa, Gheorghe Cega,

Marian Cioc, Marius Ciurea, Ionut Tiberiu

Constantin, Gabriel Costache, Dragos Dumitru

Dinu, Neculai Dogea, Gheorghe Dragu,

Constantin Duca, Nicolae Dulgheru, Cristian

Georgescu, Sergiu Gabriel Grecu, Andrei Guiu,

Ionel Guiu, Livia Andreea Guiu, Nicolae Aurelian

Iancu, Marian Ianculescu, Costel Ionita, Iulian

Sebastian Ionita, Iulian Florin Ivan, Constantin

Manu, Daniel Gheorghe Marasescu, Flaviu

Emanuel Marian, Marius Marin, Ion Minea, Mihai

Mototolea, Adrian Lucian Neagu, Petre Neagu,

Ion Nefliu, Ion Negre, Nicolae Giani Popa,

Constantin Preda, Constantin Racatej, Costel

Iulian Radu, Nicolaie Ilie Mihai Rosca, Ionela

Sandu, Ion Iulian Scarlat, Marian Serban, Danut

Vasile Soare, Nicolae Iulian Soare, Petre

Solovastru, Gabriel Stanciu, Marian Razvan

Stanescu, Romulus Florian Vilicius Stanescu,

Viorel Adrian Stanescu, Marius Iulian State,

Albert-Gabriel Stoian, Puiu Stoica, Alexandru

Sultana, Viorel Tintea, Florin Toader, Alexandru

Ionut Toma, Bogdan Alexandru Toma, Constantin

Tudor, Mircea Georgian Visan, Mihai Ionut Vlad.


Russia

MAINFREIGHT ST. PETERSBURG

Aleksandra Aleshina, Suzzanna Belyakova,

Aleksandr Bikbulatov, Elena Chernova, Natalia

Fenina, Igor Frolin Dmitry Gavrilkin, Konstantin

Gichin, Christina Icevert, Andrey Ilyin, Oksana

Kalashnikova, Aleksandr Karamyshev, Stanislav

Kirillov, Evgenia Korh, Denis Shcherbakov, Evgenia

:[HZPUń(UUH=HZPSLURV(SLRZHUKY=SHZV]9VZL

Voronina, Arseny Zemskov, Irina Zhukova.


Ukraine

MAINFREIGHT FORWARDING

KIEV

Serhii Arzhekovskii, Oksana Dzyubenko, Oleg

Garbar, Maxim Moshkovsky, Irina Petrenko, Natalia

Pyvovarenko, Maxim Savritskiy, Anastasiia

Stepanchuk. United Kingdom

MAINFREIGHT

AIR & OCEAN LONDON

Colin Crowhurst, Aline

Draps, Nitaan Glentworth, Pavel Grossu, Matthew

Kibbler, John Lane, Ritesh Patelia, Bradley Russel,

Tom Slabbers, Richard Stojcevski, Matt Ward,

Emma West.

53

PEOPLE AND COMMUNITIES
54

Our unwavering focus on
culture, values and care for

one another, makes this a

place of fun, energy and

getting things done.

MENDE PETREVSKI, MICHAEL HURLIMANN, PETER MCNALLY – Epping, Australia

55

Mainfreight has always attempted to reduce the
environmental impact of its operations. Our sustainability

initiatives have often resulted in reduced costs; so the bottom

line and the environment are both winners.

It is important to note that through good old-fashioned

common sense, we have been recycling office and depot waste

for 31 years in New Zealand. We store and use rainwater and

recycle greywater for truck washing, ablutions and irrigation.

Our new freight and warehousing facilities in New Zealand

and Australia are built with environmental design principles

in mind; energy-efficient lighting and heating solutions; and

solar power installations where feasible. Rain gardens are

installed as a feature of our landscaped grounds.

Our commitment to renewable energy solutions for our

business has taken another step with the installation of

New Zealand’s largest solar power array earlier this year.

The 422 kWh solar installation was completed at our

Westney Road facility in Auckland, New Zealand with 1,408

solar panels mounted roof-side. This joins significant solar

installations made at new facilities in New Zealand and

Australia in recent years. Environmental considerations will

continue to influence the design and build of our facilities, as

we look to extract maximum ecological benefits.

We measure the carbon emissions we generate across our

New Zealand and European operations, and over time will

establish measurement across our global operations.

In seeking to reduce our emissions, Mainfreight’s

initiatives include:

>Moving capacity from road to rail and coastal shipping

>Route planning – using GPS in congested international

cities, and introducing planning software to bring

efficiencies to freight deliveries and pick-ups

>Truck size management – using smaller trucks for

distribution within cities and larger trucks between cities

>Promoting off-peak distribution, particularly between

cities and from ports

>Efficient driving techniques promulgated through our

driver training programmes

>Utilising EV and hybrid vehicles for our sales team;

currently over 160 vehicles in use in Australasia, with this

number increasing each year

>Vehicle maintenance guidelines for owner-drivers to

promote efficient running of their trucks

>The conversion of gas and diesel powered forklifts

operating on our docks to electric, and the use of manual

pallet trucks to replace forklifts where practicable

>Trialling of smaller electric trucks for Netherlands

distribution is expected to commence early 2020.

In Europe, the business has committed to the Netherlands

sustainable logistics programme, with the objective of

reducing carbon emissions by 30% in 2013 from levels

recorded in 2007. For the Dutch fleet, we achieved a carbon

reduction of 53% in the 2018 calendar year, compared

to baseline 2007. The carbon emission is a combination

of fuel consumption and average usage of our fleet. Fuel

consumption also continues to improve for the fleet

in Europe; over the past ten years we have recorded a

decrease of 12%.

We have previously reported that our European business was

participating in studies to evaluate the practical application

of “Platooning”, which offered costs savings and lower

CO2 emissions amongst its benefits. Unfortunately, due

to overly bureaucratic requirements in several European

countries, a number of the truck manufacturers involved have

discontinued platooning applications.

Environmental initiatives are

hard-wired into our ongoing

planning and growth.

PEOPLE AND COMMUNITIES Environment

56

TAILA OOSTERHOF – Epping, Australia
57

58
Mainfreight has been part of the “Duffy Books in Homes”

programme since its inception in 1994 and currently we

support over 100 schools in New Zealand, Australia and the

USA. This means over 25,000 children every year are getting

new books to read with our support.

The philosophy behind the programme is simple – to break

the cycle of ‘booklessness’. Kids who can’t read become adults

who can’t communicate and that’s a serious disadvantage in a

world that operates on the written word.

In America, Books in Homes has partnered with 119 locations

comprising elementary schools, pre-schools, special projects

and community centers in Pennsylvania, New Jersey,

New York, Maryland, Virginia and California. Mainfreight

USA and CaroTrans are two of the lead sponsors supporting

the program, which has given away over 633,500 books to

more than 213,000 children since 2008.

In Australia, Books in Homes supports around 10,000

children each term, across 125 schools, pre-schools and

other organisations. Mainfreight has sponsored Books in

Homes Australia since its foundation in 2001, and is proud

of the organisation’s distribution of over 2.5 million books in

that time.

In New Zealand, Duffy Books in Homes celebrates 25 years

in 2019, and in September will achieve the milestone of

gifting its 13 millionth book. There are 513 Primary and

Intermediate schools, as well as 298 Early Childhood Centres

(including Te Reo and Pasefika language nests), on the Duffy

Books in Homes programme. Thanks to Mainfreight over

75,000 books will be gifted to 15,401 kids this year.

This year marks the twelfth year of support to Mainfreight’s

other significant sponsorship partner The Life Education

Trust, which was established in New Zealand in 1988. The

Trust seeks to provide young people with the knowledge and

skills to live a fulfilling and healthy life through their positive

health-based education.

Each year they teach over 240,000 children in their

mobile classrooms; supporting children’s health and

wellbeing through topics such as building resilience and

stress management, cyber safety and reducing bullying. In

secondary schools, they support our youth with the Smashed

Project, a ‘theatre-in-education’ programme which involves

a live theatre performance and an interactive workshop. The

Smashed Project is dedicated to reducing underage drinking

and promoting responsible attitudes towards alcohol.

Mainfreight is proud to support these two exceptional

organisations that channel so much to the children who are

our future. We encourage you to learn more about how you

can help by visiting their websites:

www.booksinhomes.org.nz

www.booksinhomesaustralia.com.au

www.booksinhomesusa.org

www.lifeeducation.org.nz

PEOPLE AND COMMUNITIES Mainfreight in the Community

A wonderful partnership with Mainfreight, initiated by

Bruce Plested – who else! A perfect partnership of charity

and business. Without Mainfreight we would not have got

to where we are. So a huge thanks to you all!

– Alan Duff, on celebrating 25 years of Duffy Books in Homes

59
ALAN DUFF, Founder, Duffy Books in Homes – with children of Owairaka District School

This statement is a summary of the
Corporate Governance arrangements

approved and observed by Mainfreight’s

Board of Directors (“the Board”) as

at 31 March 2019. The code of ethics,

policies, charters and other associated

documents are available on the Investor

pages of the Company’s website:

https://www.mainfreight.com/global/

en/global-home/investor-centre/

governance.aspx

Mainfreight’s corporate governance

practices do not materially differ

from the NZX Corporate Governance

Code, except that Mainfreight has not

established a Nominations Committee,

preferring to accomplish this task with

the assistance of the full Board.

THE ROLE OF THE BOARD

OF DIRECTORS

The Board is committed to the highest

standards of ethical behaviour in its

own undertakings and those of the

Group’s team members. The Board

follows the corporate governance rules

established by NZX, and Directors

exercise their duties in the best interests

of the Group. A formal charter has been

adopted by the Board that further sets

out the responsibilities of Directors.

The Board is responsible for the

direction and control of the Group’s

activities. This responsibility includes

such areas of stewardship as the

identification and control of the

Group’s business risks, the integrity

of management information systems

and reporting to shareholders. The

Company has undertaken a robust risk

assessment process. While the Board

acknowledges that it is responsible

for the overall control framework of

the Group, it recognises that no cost

effective internal control system will

preclude all errors and irregularities.

Our system is based upon written

procedures, policies and guidelines,

organisational structures that provide

an appropriate division of responsibility,

and the careful selection and training of

all qualified personnel.

The Board includes in its decision

making; dividend payments, the raising

of new capital, major borrowings,

the approval of annual accounts

and the provision of information to

shareholders, major capital expenditure

and acquisitions. The Board delegates

the conduct of the day-to-day affairs of

the company to the Group Managing

Director and Executive Management.

Financial statements are prepared

monthly in conjunction with the weekly

profit and loss statements generated at

branch level. These are reviewed by the

Board progressively through the year

to monitor management’s performance

and assess the integrity of management

information.

BOARD COMPOSITION

The Board comprises seven Directors: a

Chairman, a Group Managing Director

and five Directors (all of whom are

independent). From time to time, key

executives are invited to attend Board

Meetings and are encouraged to fully

participate in all debate.

Carl Howard-Smith retired as a

Director at the conclusion of the 2018

Annual Meeting of Shareholders and

was not replaced.

The Company enters into written

agreements with each newly appointed

director establishing the terms of their

appointment.

DIRECTORS MEETINGS

The Directors normally hold five full

Board Meetings per year; three of these

are held over two- to three-day periods

in operational regions of interest and

concern, with opportunities to meet

with customers and/or our team in

those locations; with the other two

meetings being shorter, and held

primarily to review performance and

strategy. Additional meetings are held

for the purposes of considering interim

and final dividends, and approving

financial results for release to the

market, and as otherwise required.

The Board met on seven occasions in

the financial year ended 31 March 2019,

in Auckland, New Zealand; Sydney,

Australia; Hong Kong; ‘s-Heerenberg,

The Netherlands; and Los Angeles,

United States.

The following table summarises

Director attendance at Board and

Committee meetings:

DirectorBoardAudit CommitteeRemuneration Committee

Bruce Plested7/7–2/2

Don Braid*7/72/2–

Simon Cotter7/72/22/2

Bryan Mogridge7/72/2–

Richard Prebble

#

7/72/22/2

Kate Parsons7/7––

Sue Tindal7/7––

Carl Howard-Smith

(Retired during the year)

3/31/1–

* Don Braid attends the Audit Committee

by invitation

#

Richard Prebble was appointed to the

Audit Committee during the course of the

year, replacing Carl Howard-Smith

60

GOVERNANCE & LEADERSHIP Corporate Governance Statement

SHARE TRADING
The Board has set out a procedure

which must be followed by Directors

and key Executive Management when

trading in Mainfreight Limited shares.

This procedure assists those persons

to ensure they comply with the insider

trading provisions in the Financial

Markets Conduct Act 2013.

GROUP MANAGEMENT

STRUCTURE

The Group’s organisational structure

is focused on its core competencies;

domestic transportation, international

sea and air freight forwarding,

warehousing and supply chain

management. These operations are

located in New Zealand, Australia, the

Americas, Europe and Asia. A country/

region management structure exists

to reflect the size and diversity of our

global operations.

Our management structure is

deliberately kept as flat and minimal as

we can achieve. This provides an ideal

platform for succession planning, and

allows for decision-making from those

closest to our customers. We manage

with a philosophy that encourages all to

contribute.

DIVERSITY

The Board recognises the current

requirement placed by NZX Listing

Rules on Issuers to report on diversity,

and has included a gender breakdown

across its full team in its Annual

Reports for many years. Mainfreight

is firmly committed to diversity and

equality in all areas of its operations,

and the Group’s Diversity Policy is

available on its website.

At the level of Directors and Officers,

gender composition is set out below.

This YearLast Year

MaleFemaleMaleFemale

Directors

52

6

2

Off icers

100

100

All Team

Members*

67%33%

68%32%

* If we remove Owner Drivers and EU

Drivers f rom the calculation, gender ratios

are 59% Male and 41% Female (last year

59% Male and 41% Female).

The supply chain logistics industry

is recognised as being dominantly

male; however as the Group moves

into a broader geographic range, we

are discovering areas where there is

greater gender balance such as our

Logistics business in the Netherlands,

our Air & Ocean business in many

locations, and our Asian business. We

are pleased that the number of female

managers has increased to 46 (up

from 37 in 2018, 31 in 2017, and 27 in

2016). The number of key management

roles held by females still falls well

below our expectations and we look for

improvement.

ANTI-CORRUPTION AND

COMPETITIVE PRACTICE

GUIDELINE

With the advent of the global economy,

most countries have put in place

anti-corruption and competition laws,

which we at Mainfreight welcome

and endorse. Mainfreight, as a global

company, has adopted guidelines and

policy to enforce anti-corruption and

anti-competitive behaviour.

The integrity of our brand and the

way we are perceived in the market

is of paramount importance to us.

Mainfreight demands from its team

members at all times honesty, integrity

and a scrupulously “clean” approach to

the way we conduct our business.

THE ROLE OF SHAREHOLDERS

The Board aims to ensure that

shareholders are informed of all

major developments affecting the

Group’s state of affairs. Information is

communicated to shareholders in the

Annual Report, the Interim Report, and

twice-yearly Newsletters. The Board has

adopted a continuous disclosure policy

to assist Mainfreight to comply with

its continuous disclosure obligations

under the NZX Listing Rules. The

Board encourages full participation of

shareholders at the Annual Meeting

to ensure a high level of accountability

and identification with the Group’s

strategies and goals.

The Board has constituted the

following standing Committees that

focus on specified areas of the Board’s

responsibility. Each Committee operates

under its own charter (available on

the Company's website) outlining

composition and responsibilities.

AUDIT COMMITTEE

The Committee is responsible for

the framework of internal control

mechanisms that ensure proper

management of the Group’s affairs.

The Committee is accountable to the

Board for the recommendations of the

external auditors, EY, directing and

monitoring the audit function and

reviewing the adequacy and quality

of the annual audit process. The

61

Committee provides the Board with
additional assurance regarding the

accuracy of financial information for

inclusion in the Group’s Annual Report,

including the Financial Statements.

The Committee is also responsible for

ensuring that the Group has an effective

internal control framework. A member

of the Group’s finance team oversees

regular internal control assessments,

and reports to the Chief Financial

Officer and the Audit Committee as

appropriate.

These controls include the safeguarding

of assets, maintaining proper

accounting records, complying

with legislation, including resource

management and health and safety

issues, ensuring the reliability of

financial information, and assessing

and overviewing business risk.

The Committee also deals with

Governmental and NZX compliance

requirements.

Audit Committee:

Simon Cotter, Chairman

Bryan Mogridge, Director

Richard Prebble, Director

REMUNERATION COMMITTEE

The Committee is responsible for

reviewing the remuneration and

benefits of the Group Managing

Director and senior executives,

for reviewing the remuneration

of Board members, and makes its

recommendations to the Board. The

Committee also monitors and reports

on general trends and proposals

concerning employment conditions and

remuneration.

General remuneration for all team

members is reviewed on an annual

basis and takes into account CPI

and responsibility changes for each

individual. This does not include

senior executives. Senior executive

remuneration is reviewed every

two years.

A general increase is applied to all

salaries in April, as detailed below.

Senior executives’ salaries are reviewed

every two years, and were last reviewed

in October 2018.

1 April

2019

1 April

2018

New Zealand 3.0%3.0%

Australia3.0%3.0%

Americas3.0%3.0%

Asia3.0%3.0%

Europe 2.9%1.9%

(% increase where

applicable, and guidance

where negotiations are

required)

(weighted

average)

(weighted

average)

In New Zealand and Australia, at the

April 2019 review, we again reviewed

and actioned additional increases to

the salaries of those at the lower end

of our salary range. Mainfreight has

never looked to pay a minimum wage,

and is on track to achieve an entry level

annual salary of at least $60,000 in the

near future.

The discretionary bonus system used

in Mainfreight was applied during the

financial period with Board approval.

This bonus calculation is applied

across all business units and only to

those people who have completed 12

months’ continuous full time service

for Mainfreight. The total cost of

this discretionary bonus for the 2019

financial year is $27.2 million (up from

$20.7 million in the prior year).

Remuneration Committee:

Bruce Plested, Chairman

Richard Prebble, Director

Simon Cotter, Director

62

GOVERNANCE & LEADERSHIP Corporate Governance Statement, CONTINUED

63
LANCE DAILEY – Los Angeles, USA

64
Ben Fitts

12 years at Mainfreight

REGIONAL MANAGER

EUROPE

2019 Highlight:

Opening five new facilities has given

our team a sense of our commitment

to Europe, bringing added confidence,

energy and drive to increase our growth

and returns.

Cary Chung

8 years at Mainfreight

REGIONAL MANAGER

ASIA

2019 Highlight:

Developing our Southeast Asian

presence with new branches in Japan

and Malaysia has boosted our global

network and offered new trade lanes for

the group to work with in supporting

our customers.

Craig Evans

32 years at Mainfreight

COUNTRY MANAGER

NEW ZEALAND

2019 Highlight:

Extending our reach into regional

New Zealand has shown us that even as

a big fish in a smaller market, we have

the ability to reach a wider customer

base with our full range of offerings.

GOVERNANCE AND LEADERSHIP Our Leadership Team

64

Our regional leaders “get” the importance of their individual region’s

performance, but just as importantly, value the inter-connectedness

of every branch around the world.

Rodd Morgan
16 years at Mainfreight

COUNTRY MANAGER

AUSTRALIA

2019 Highlight:

Seamlessly implementing our new

Transport software platform and

progressing our program for new

facilities have been key achievements.

Along the way we significantly

increased revenue and EBITDA.

John Hepworth

21 years at Mainfreight

REGIONAL MANAGER

AMERICAS

2019 Highlight:

With a much improved alignment of

our sales and business goals, we have

delivered an improved performance

across all business divisions.

65

66
GOVERNANCE AND LEADERSHIP Our Leadership Team, CONTINUED

Nic Kay – 23 years

NEW ZEALAND

>Began with Christchurch Logistics, followed

by sales and leadership roles across all three

divisions

>His passion for sales led to the New Zealand

Group Sales Manager role in 2011

>Appointed to the Air & Ocean national

management role in 2015, and has overseen

business development into regional

New Zealand

Chris Wilson – 14 years

CAROTRANS USA

>Joined CaroTrans in 2004 as Cleveland

Branch Manager

>Led team to twice win CaroTrans Branch of

the Year

>Opened CaroTrans Le Havre branch in

France in 2012

>Returned to US in 2016 holding senior

sales and operational roles before taking on

leadership of CaroTrans in June 2017

Grant Draper – 22 years

AUSTRALIA

>Joined Mainfreight as Financial Controller for

Air & Ocean NZ in 1997

>In 2001, relocated to Melbourne following

acquisition of additional international

operations in Australia

>Took on role of Financial Controller for Air &

Ocean Australia

>Appointed National Manager Air & Ocean

Australia in 2015

Cary Chung – 8 years

ASIA

>Joined Mainfreight Asia (based in

Hong Kong) in 2011 as Regional Director

Sales & Supply Chain

>In 2016, moved to Shanghai and took on the

role as General Manager China

>Moved to Regional Manager Asia role in late

2017

>Also oversees the Air & Ocean division,

drawing on his extensive experience in the

sector

Jason Braid – 22 years

EUROPE

>Jason joined Mainfreight as a graduate at

Daily Freight NZ

>Moved to CaroTrans Chicago and then to

Mainfreight Air & Ocean Los Angeles in sales

and branch manager roles

>Appointed as Vice President Air & Ocean for

Mainfreight USA

>Moved to Europe where he now heads up the

European Air & Ocean business

Nathan Thomas – 16 years

AMERICAS

>Joined Mainfreight in NZ through Owens

Group acquisition

>Held several roles within NZ Perishables

Airfreight division

>Joined Air & Ocean Los Angeles, leading the

team to USA Branch of the Year

>Now leads Air & Ocean Americas, and is

focused on LCL, sales and quality

Air & Ocean Leaders

67
GEORGIA STADDON – Auckland, New Zealand

68
Domestic Transport Leaders

Carl George – 24 years

NEW ZEALAND

>Started in Auckland Transport

branch and progressed through

various roles into sales and branch

management

>Moved to UK in a business

development role

>Returned to NZ National Sales

Manager role

>Has a demonstrated history of

successfully running the national

Transport operation in NZ

Mitch Gregor – 18 years

NEW ZEALAND

>Has worked across the business

in operations, sales and branch

management roles in Logistics &

Transport, in both Australia and NZ

>Responsible for Mainfreight and

Owens Logistics operations across

New Zealand

>Career highlights include helping

earn two Branch of the Year trophies

Bryan Curtis – 39 years

AUSTRALIA

>Has been part of Mainfreight almost

since day one

>Held a variety of leadership roles in

New Zealand and Australia

>Has overseen significant investment

into new facilities for the Australian

business in recent years

>Current focus is on achieving growth

and ever-improving quality

Simon Hart – 13 years

AUSTRALIA

>Joined the NZ business in 2001 in IT

and business development roles

>Following a break in the UK,

joined the Australian business in

operational and sales roles

>Now leads the Australian

Warehousing business and is

passionate about people development

and process improvement

Frans Zuidgeest – 8 years

EUROPE

> Began as a graduate with the Europe

business in 1997, working across IT

and Sales roles

>Moved to Forwarding & Transport

in 2011, eventually accepting the

National Manager Forwarding role

for The Netherlands

>Took on current role in 2015 and

has overseen development of new

cross-dock facilities in Belgium and

the wider European Forwarding

network.

Liane Philipsen – 8 years

EUROPE

>Liane joined the European business

as a graduate in 1997, with a masters

degree in Business Administration

>Held operations roles in

Warehousing before leading the

European sales team

>Now leads Warehousing in Europe

and has a personal interest

in implementing continuous

improvement programs with

positive outcomes for both team and

customers

Shawn Roach – 3 years

AMERICAS

>Joined Mainfreight following six

years as a North American transport

partner

>Strong transport background

>Instrumental in linking the trade

lanes between the United States and

Canada

>Focused on increasing Domestic

Transport growth through sales and

customer satisfaction

René van Houtum – 8 years

AMERICAS

>Spent 17 years in a variety of roles

in the business in Europe prior to

Mainfreight’s acquisition

>Moved to Australia in September 2011

to lead the Warehousing division

>Moved to North America in 2014 to set

up and lead Mainfreight’s standalone

Warehousing division, with an ongoing

focus on sales, team development and

continuous performance improvement

Warehousing Leaders

GOVERNANCE AND LEADERSHIP Our Leadership Team,

CONTINUED

69
Rob Croft – 9 years

NEW ZEALAND

>Began with Mainfreight in 1994 as

a local sales rep with Daily Freight

Wellington

>Following overseas industry

experience, joined Mainfreight

Australia in 2010 as Trade

Development Manager

>Returned to New Zealand in 2014,

in Business Development role

>Appointed National Sales Manager

in 2015, focusing on growth across

the supply chain, and developing

our team into leadership roles

Dave Scott – 19 years

AUSTRALIA

>Joined Mainfreight Melbourne

team in 2000, with strong sales and

operational background in domestic

and international transport in NZ,

Australia and the UK

>Focused on achieving growth targets

through ongoing development and

retention of a young and motivated

sales team

Billy Zhang – 18 years

ASIA

>Joined Mainfreight Asia in 2001,

with a double degree from Shanghai

University in Industrial Engineering

and Foreign Trade

>Has held a range of customer

service, trade-lane management,

and sales roles

>Was National Sales Manager for

China before taking on his current

role in 2017

Steve Turner – 13 years

AMERICAS

>Joined Mainfreight as a sales

cadet, and moved into sales and

operational management roles

>Previously held position of National

Sales Manager of Transport in

Australia

>Joined the US team in early 2019 in

the Regional Sales Manager role

>Passionate about achieving growth

through development of our sales

team and supply chain selling

initiatives

Support Team

Sales Leaders

Tim Williams – 25 years

CHIEF FINANCIAL OFFICER

>Joined Mainfreight through the

acquisition of Daily Freightways

in 1994

>Played a key role in Mainfreight’s

initial public offering in 1996

>Over the years his role and

capabilities have continued to

broaden as Mainfreight moves into

diverse global markets

Kevin Drinkwater – 33 years

GROUP IT MANAGER

>Mainfreight’s first graduate

>Roles have included Chief Financial

Officer, Sales Manager and first

General Manager of Mainfreight

Logistics

>Kevin has led the development

and implementation of most of our

critical systems globally

Martin Devereux – 19 years

GROUP MANAGER

TEAM DEVELOPMENT

>Joined Mainfreight in 2000

after graduating with degrees in

Management and Law

>Has held various roles across both

Transport and Air & Ocean, in both

New Zealand and Australia

>Joined Training & Development

team in 2004

>Took on global leadership and

coordination of these teams in 2010

Carl Howard-Smith – 41 years

GENERAL COUNSEL

MAINFREIGHT

>Has been with Mainfreight since its

inception

>Formerly a long-serving Director of

Mainfreight

>Retired from the Board in 2018 and

now focuses on his role as General

Counsel

>The business values his legal and

business acumen, and his commitment

to the Group’s development and growth

70
The Directors are pleased to present this twenty-third

published Annual Report of Mainfreight Limited.

FINANCIAL RESULT

Consolidated sales for the year were $2,954.09 million, up

on the previous year by $337.39 million, or 12.9%. Net profit

increased from $107.69 million to $137.63 million. Excluding

abnormal gains and losses, net profit for the 2019 financial

year increased 26.0% to $141.08 million. Comparisons to the

2018 result are set out in the five year review; page 115 of the

financial statements.

FINANCIAL POSITION

The Group has improved its financial position with

shareholders’ equity of $838.32 million, funding 55.8% of

total assets. Earnings cover interest on debt by 29.69 times.

Net cash flow from operations was $197.42 million, up from

$140.24 million last year.

DIVIDEND

A dividend of 26 cents per share was paid in July 2018,

fully imputed. A supplementary dividend of 4.59 cents

per share was paid to non-resident shareholders with this

dividend. A further dividend of 22 cents per share was paid

in December 2018, fully imputed. A supplementary dividend

of 3.88 cents per share was paid to non-resident shareholders

with this dividend. A fully imputed dividend of 34 cents

per share, payable on 19 July 2019 is proposed, together

with a supplementary dividend of 6.00 cents per share for

non-resident shareholders. Books close for this dividend on

12 July 2019.

Total dividend paid and proposed for the 2019 financial year

is 56 cents.

STATUTORY INFORMATION

Additional information is set out on pages 111 to 114 including

Directors’ Interests as required by the Companies Act 1993.

DIRECTORS

Don Braid, Simon Cotter and Kate Parsons will retire at the

Annual Meeting, and are available for re-election.

DIRECTORS’ REMUNERATION

Directors’ fees increased from 1 April 2019, to $120,000 per

annum for each Director, and $240,000 per annum for the

Chairman of the Board. (Directors’ fees were last increased in

the 2017 financial year, being set at $113,000 per annum for

each Director, and $226,000 per annum for the Chairman of

the Board.)

Shareholders set the aggregate annual amount of Directors’

Fees at $904,000 at their meeting in July 2017, and the

current quantum is within that cap.

Chairman*$240,000

Directors: 5

#

$120,000$600,000

Fees paid to Directors Annually$840,000

*


The Chairman has for some time elected not to take his fee

entitlement

#

The Group Managing Director does not receive Director’s fees

AUDIT

The Company’s Auditors, EY, will continue in office in

accordance with the Companies Act 1993. The Company has

a formally constituted Audit Committee.

REPORTING AND COMMUNICATIONS

Mainfreight continues to support high levels of public

company disclosure. The Company provides half yearly

reporting on results, with ongoing disclosure as required.

The Company is effective in communicating the Group’s

affairs and results to shareholders, NZX, regulatory bodies

and the media. The first half year result to 30 September

2019 is scheduled for release on 13 November 2019.

OUTLOOK

The Directors are satisfied with the direction and

development of the Group. The next twelve months will

continue the developments that Mainfreight has underway

with the subsequent benefits to our shareholders and

stakeholders.

For and on behalf of the Board

26 June 2019

Bruce Plested

CHAIRMAN

Simon Cotter

DIRECTOR

BPld

GOVERNANCE AND LEADERSHIP Directors’ Report

71
KENDAL STRATFORD – Auckland, New Zealand

GOVERNANCE AND LEADERSHIP Our Board of Directors
72

Our Board’s decisions and

debates are fuelled by the

desire to forge an enduring

business.

73
BOARD OF DIRECTORS:

BRUCE PLESTED, KATE PARSONS, DON BRAID, BRYAN MOGRIDGE, SUE TINDAL, RICHARD PREBBLE AND SIMON COTTER.

In order to make a practical and well-informed contribution to the way this

business is run, our Board is hands-on and visits Mainfreight operations

around the world. Through experiencing the business first-hand, they are

fully immersed in our culture, challenges and opportunities.

74
Bruce Plested

Chairman and Founding Owner

41 YEARS WITH MAINFREIGHT

APPOINTMENT TO BOARD 1978

Age: 77

As Chairman and Founder, Bruce

shares his vision for the Company

with the Mainfreight team, bringing

a particular focus to quality and our

culture. Likewise, his strongly-held

beliefs relating to the importance

of education and of recycling/

sustainability, continue to positively

shape the Company’s behaviours.

Don Braid

Group Managing Director

25 YEARS WITH MAINFREIGHT

APPOINTMENT TO BOARD 2000

Age: 59

Don has over 40 years’ experience

in the freight industry, commencing

with Daily Freightways. His leadership

is underpinned by a strong belief

in Mainfreight’s global competency

and capabilities to provide high-

quality supply chain solutions for our

customers. His visits to our local and

overseas operations guide our teams to

be sales-focused and always aiming for

operational excellence. He is fiercely

proud of the Mainfreight culture seeing

this as a key reason customers choose

Mainfreight over the competition.

Richard Prebble

Independent Director

APPOINTMENT TO BOARD 1996

Age: 71

Richard Prebble is by profession

a lawyer. As a Minister, Richard

was responsible for creating SOEs,

deregulating telecommunications and

broadcasting, reforming ports, airports,

railways and aviation.

Today he chairs a group of

telecommunication companies.

Richard has been elected a fellow of

the Chartered Institute of Logistics and

Transport.

Other current directorships.

Information and Communication

Services Limited (Chairman),

Seronic (NZ) Limited, and his family

companies.

Bryan Mogridge

Independent Director

APPOINTMENT TO BOARD 2003

Age: 73

Bryan has a wealth of experience, both

in executive and board roles. He has

also lent his considerable support to

not-for-profit organisations such as the

Starship Foundation. His intellect and

pragmatic approach is highly regarded

at the Board table.

Other Current Significant Directorships

and Trusteeships: SeaDragon Limited

(Chairman), BUPA ANZ Pty Limited,

Adherium Limited, Clearspan Limited,

Thinxtra Limited, Starship Foundation,

Massey University Foundation.

Simon Cotter

Independent Director

APPOINTMENT TO BOARD 2013

Age: 52

Simon has a long association with

Mainfreight having served as

the Company’s main adviser for

acquisitions, debt structure and other

matters since 2003 (through Grant

Samuel & Associates), prior to joining

the Mainfreight Board. He brings

strong financial skills and business

acumen to the role.

Other Current Directorships: Grant

Samuel & Associates Ltd.

Kate Parsons

Independent Director

APPOINTMENT TO BOARD 2017

Age: 46

Kate brings to the Board her broad

financial and analytical experience

acquired in a range of industries, both

in New Zealand and overseas. Her

knowledge of high-tech companies

is a welcome addition to the Board’s

capabilities, as is her familiarity with

the complexities of acquisitions, and

steering companies through growth

and change.

Other Current Directorships: Member

of the CFO Advisory Board, Auckland

University Business School, Member

of the Board of Trustees of Dress for

Success Incorporated, and private

family companies

Sue Tindal

Independent Director

APPOINTMENT TO BOARD 2017

Age: 57

Sue has considerable international

experience, having served on a number

of private sector and not for profit

boards in Australia. Since returning

to New Zealand in 2014, she has

held consulting and CFO roles. Her

proficiency in government relations,

banking, finance and technology is

greatly valued, as is the international

perspective she brings.

Other Current Directorships: Member

of the CFO Advisory Board, Auckland

University Business School

GOVERNANCE AND LEADERSHIP Our Board of Directors, CONTINUED

75
ERIC PENG – Taipei, Asia

76
Financial Statements Contents

77

Income

Statement

78

Balance

Sheet

79

Statement Of

Changes In Equity

80

Cash Flow

Statement

81

Notes To Financial

Statements

107

Auditor’s

Report

111

Statutory

Information

114

Interests

Register

115

Five Year

Review

77
Income Statement

FOR THE YEAR ENDED 31 MARCH 2019

Note

2019

$000

2018

$000

OPERATING REVENUE 2,953,414 2,616,189

Interest Income 673 511

TOTAL REVENUE2,954,087 2,616,700

Transport Costs (1,791,573) (1,605,459)

Labour Expenses Excluding Share Based Payments (612,641) (538,483)

Occupancy Expenses (83,850) (73,192)

Depreciation and Amortisation Expenses14, 15 (53,107) (47,788)

Other Expenses (208,301) (183,941)

Finance Costs (7,541) (7,567)

Prof it Before Abnormal Items and Taxation for the Year 197,074 160,270

Income Tax on Prof it Before Abnormal Items (55,990) (48,266)

NET PROFIT BEFORE ABNORMAL ITEMS FOR THE YEAR 141,084 112,004

Abnormal Items27 (4,965) (7,224)

Income Tax on Abnormal Items27 1,505 2,898

ABNORMAL ITEMS AFTER TAXATION (3,460) (4,326)

Prof it Before Taxation for the Year 192,109 153,046

Income Tax Expense7 (54,485) (45,368)

NET PROFIT FOR THE YEAR 137,624 107,678

Earnings per share for prof it attributable to the ordinary equity holders of the company are:

CentsCents

Basic Earnings Per Share: Total Operations9 136.67106.93

Diluted Earnings Per Share: Total Operations9 136.67106.93

Statement of Comprehensive Income

FOR THE YEAR ENDED 31 MARCH 2019

2019

$000

2018

$000

Net Prof it for the Year 137,624 107,678

OTHER COMPREHENSIVE INCOME

Other comprehensive income to be reclassif ied to prof it or loss in subsequent periods:

Exchange Differences on Translation of Foreign Operations 1,144 (1,978)

Income Tax Effect (1,006) 3,371

Net Other comprehensive income to be reclassif ied to prof it or loss in subsequent periods 138 1,393

Other comprehensive income not to be reclassif ied to prof it or loss in subsequent periods:

Revaluation of Land including Foreign Exchange Movements 43,506 638

Income Tax Effect (4,106) -

Net Other comprehensive income not to be reclassif ied to prof it or loss in subsequent periods 39,400 638

Other comprehensive income not to be reclassif ied to prof it or loss in subsequent periods:

Def ined Benef it Pension Provision (93) 325

Income Tax Effect 23 (137)

Net Other comprehensive income not to be reclassif ied to prof it or loss in subsequent periods (70) 188

Other Comprehensive Income for the Year, Net of Tax 39,468 2,219

TOTAL COMPREHENSIVE INCOME FOR THE YEAR, NET OF TAX 177,092 109,897

The accompanying notes form an integral part of these f inancial statements.

78
Balance Sheet

AS AT 31 MARCH 2019

Note

2019

$000

2018

$000

CURRENT ASSETS

Bank10 115,184 80,521

Trade Debtors11 389,376 361,737

Income Tax Receivable 200 270

Properties Held for Sale14 - 7,852

Other Receivables12 55,304 60,811

560,064 511,191

NON-CURRENT ASSETS

Property14 547,641 483,488

Plant & Equipment14 118,988 98,822

Software15 51,052 49,374

Goodwill15 208,522 207,919

Brand Names15 3,807 7,863

Other Intangible Assets15 6,581 9,164

Deferred Tax Asset7 6,234 8,882

942,825 865,512

TOTAL ASSETS 1,502,889 1,376,703

CURRENT LIABILITIES

Bank10 4 36

Trade Creditors & Accruals18 314,925 298,916

Employee Entitlements16 62,832 53,373

Provision for Taxation 18,868 12,323

Finance Lease Liability20 2,246 2,077

398,875 366,725

NON-CURRENT LIABILITIES

Bank Term Loan19 238,653 270,753

Employee Entitlements16 2,815 3,634

Deferred Tax Liability7 19,473 21,526

Finance Lease Liability20 4,758 4,507

265,699 300,420

SHAREHOLDERS’ EQUITY

Share Capital21 85,821 85,821

Retained Earnings 673,931 583,359

Revaluation Reserve 89,371 51,254

Foreign Currency Translation Reserve (10,506) (10,644)

Def ined Benef it Pension Reserve (302) (232)

TOTAL EQUITY 838,315 709,558

TOTAL LIABILITIES AND EQUITY 1,502,889 1,376,703

For and on behalf of the Board who authorised the issue of these f inancial statements on 26 June 2019.

Bruce Plested, Chairman

Simon Cotter, Director

The accompanying notes form an integral part of these f inancial statements.

79
Statement of Changes in Equity

FOR THE YEAR ENDED 31 MARCH 2019

2019

$000Note

Ordinary

Shares

Asset

Revaluation

Reserve

Foreign

Currency

Translation

Reserve

Defined

Benefit

Pension

Reserve

Retained

EarningsTotal

Balance at 1 April 2018 85,821 51,254 (10,644) (232) 583,359 709,558

Prof it for the Year - - - - 137,624 137,624

Transfer of Revaluation Reserve

for Land Sold - (1,283) - - 1,283 -

Other Comprehensive Income - 39,400 138 (70) - 39,468

TOTAL COMPREHENSIVE

INCOME FOR THE YEAR - 38,117 138 (70) 138,907 177,092

TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:

Supplementary Dividends - - - - (1,879) (1,879)

Dividends Paid8 - - - - (48,335) (48,335)

Foreign Investor Tax Credit - - - - 1,879 1,879

BALANCE AT 31 MARCH 2019 85,821 89,371 (10,506) (302) 673,931 838,315

2018

$000

Ordinary

Shares

Asset

Revaluation

Reserve

Foreign

Currency

Translation

Reserve

Defined

Benefit

Pension

Reserve

Retained

EarningsTotal

Balance at 1 April 2017 85,821 50,616 (12,037) (420) 518,982 642,962

Prof it for the Year - - - - 107,678 107,678

Other Comprehensive Income - 638 1,393 188 - 2,219

TOTAL COMPREHENSIVE

INCOME FOR THE YEAR - 638 1,393 188 107,678 109,897

TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:

Supplementary Dividends - - - - (1,497) (1,497)

Dividends Paid8 - - - - (43,301) (43,301)

Foreign Investor Tax Credit - - - - 1,497 1,497

BALANCE AT 31 MARCH 2018 85,821 51,254 (10,644) (232) 583,359 709,558

The accompanying notes form an integral part of these f inancial statements.

80
The accompanying notes form an integral part of these f inancial statements.

Cash Flow Statement

FOR THE YEAR ENDED 31 MARCH 2019

Note

2019

$000

2018

$000

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts f rom Customers 2,931,037 2,580,429

Interest Received 673 511

Payments to Suppliers and Team Members (2,674,532) (2,388,030)

Interest Paid (7,541) (7,567)

Income Taxes Paid (52,214) (45,107)

NET CASH FLOWS FROM OPERATING ACTIVITIES22 197,423 140,236

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds f rom Sale of Property, Plant & Equipment 14,048 4,507

Proceeds f rom Sale of Software 50 46

Repayments by Team Members 8 213

Purchase of Property, Plant & Equipment (87,673) (51,509)

Purchase of Software (15,603) (17,726)

Advances to Team Members (3) (10)

Establishment of Franchises and Acquisition of Subsidiaries - (250)

NET CASH FLOWS FROM INVESTING ACTIVITIES (89,173) (64,729)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds of Long Term Loans 320 1,974

Proceeds of Share Issues - -

Dividend Paid to Shareholders (48,335) (43,300)

Repayment of Loans (26,755) (28,441)

NET CASH FLOWS FROM FINANCING ACTIVITIES (74,770) (69,767)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 33,480 5,740

Net Foreign Exchange Differences 1,215 380

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 80,485 74,365

CASH AND CASH EQUIVALENTS AT END OF PERIOD 115,180 80,485

COMPRISED

Bank and Short Term Deposits10 115,184 80,521

Bank Overdraft (4) (36)

115,180 80,485

81
Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2019

1 CORPORATE INFORMATION

The f inancial statements of Mainf reight Limited (“the Parent“) and its subsidiaries (“the Group”) for the year ended 31 March 2019

were authorised for issue in accordance with a resolution of the Directors.

Mainf reight Limited is a company limited by shares incorporated in New Zealand whose shares are publicly traded on the NZX Main

Board (New Zealand Stock Exchange).

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Preparation

The f inancial statements have been prepared in accordance with generally accepted accounting practice in New Zealand (NZ

GAAP) and the requirements of the Companies Act 1993 and the Financial Markets Conduct Act 2013. The f inancial statements

have been prepared:

• On a historical cost basis, except for land, and derivative f inancial instruments.

• On a GST exclusive basis, except for receivables and payables that are stated inclusive of GST.

(b) Statement of Compliance

The f inancial statements comply with New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and

other applicable Financial Reporting Standards, as appropriate for prof it-oriented entities. The f inancial statements comply with

International Financial Reporting Standards (IFRS).

(c) Basis of Consolidation

The consolidated f inancial statements comprise the f inancial statements of Mainf reight Limited and its subsidiaries (the

“Group”) as at 31 March each year (as outlined in note 13).

Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses

control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are

included in the statement of comprehensive income f rom the date the Group gains control until the date the Group ceases to

control the subsidiary.

Control is achieved when the Group is exposed, or has rights, to variable returns f rom its involvement with the investee and has

the ability to affect those returns through its power over the investee.

The f inancial statements of subsidiaries are prepared for the same reporting period as the parent company, using consistent

accounting policies. Income and expenses for each subsidiary whose functional currency is not New Zealand dollars are

translated at exchange rates which approximate the rates at the actual dates of the transactions. Assets and liabilities of such

subsidiaries are translated at exchange rates prevailing at balance date. All resulting exchange differences are recognised in the

foreign currency translation reserve which is a separate component of equity.

In preparing the consolidated f inancial statements, all inter-company balances and transactions, income and expenses and

prof it and losses resulting f rom intra-group transactions have been eliminated in full.

(d) Foreign Currency Translation

(i) Functional and Presentation Currency

The presentation currency of the Group is New Zealand dollars ($) and all values are rounded to the nearest thousand dollars

($000). Each entity in the Group determines its own functional currency and items included in the f inancial statements of each

entity are measured using that functional currency.

(ii) Transactions and Balances

Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling at the

date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange

ruling at the balance sheet date.

All exchange differences in the consolidated f inancial statements are taken to prof it or loss with the exception of differences on

foreign currency borrowings that provide a hedge against a net investment and differences arising on translation of a foreign

operation. These are recognised in other comprehensive income and accumulated in reserves until disposal of the net investment

at which time they are recognised in prof it or loss. On disposal of a foreign operation, the cumulative amount recognised in

equity relating to that particular foreign operation is recognised in prof it or loss. Tax charges and credits attributable to exchange

differences on those borrowings are also recognised in equity.

82
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate

as at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the

exchange rates at the date when the fair value was determined.

(iii) Hedges of a Net Investment

Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net

investment, are accounted for by including the gains or losses on the hedging instrument relating to the effective portion of the

hedge directly in equity while any gains or losses relating to the ineffective portion of the hedge are recognised in prof it or loss.

On disposal of the foreign operation, the cumulative value of any such gains or losses recognised directly in equity is transferred

to prof it or loss.

(e) Changes in Accounting Policies

The accounting policies applied in the preparation of the consolidated f inancial statements are consistent with the prior year,

except for the adoption of new standards effective 1 January 2018, namely NZ IFRS 15 and NZ IFRS 9. The Group has not early

adopted any other standards, interpretation or amendment that have been issued but are not yet effective.

NZ IFRS 15 – Revenue f rom Contracts with Customers (effective for annual periods beginning on or after 1 January 2018). The

Group has adopted NZ IFRS 15 Revenue f rom Contracts with Customers f rom its 2019 f inancial year. The core principle of

NZ IFRS 15 is that an entity recognises revenue to present the transfer of promised goods or services to customers reflecting the

consideration to which the entity expects to be entitled in exchange for those goods or services.

The Group transitioned to NZ IFRS 15 using the fully retrospective method, meaning that the 2018 comparative balances in the

2019 f inancial statements have been restated, with an adjustment to equity at 1 April 2017 to reflect the cumulative prof it impact

at that time.

The recognition of revenue on the basis described above has led to a delay in the recognition of revenue compared to the

methods previously used. At any point in time this is expected to be less than 1.0% of annual revenue. As this deferral will occur at

both the beginning and end of the year, the impact on recorded revenue in any f inancial period is expected to be minimal and

for the 2018 year has been calculated as a $2,160,000 reduction of revenue. Further, as the recognition of costs in many cases will

be revised to reflect the revised recognition of revenue the prof it impact in any period is expected to be highly immaterial and for

the 2018 year has been calculated as a $302,000 reduction of pre-tax prof it. After tax this adjustment was a $215,000 reduction.

The impact upon opening (1 April 2017) net assets and equity of the Group is calculated as a reduction of equity of $2,640,000.

The Group elected to use the practical expedient regarding the disclosure requirement of the transaction price allocated to

unsatisf ied performance obligations. In all customer contracts either the original expected duration is one year or less.

NZ IFRS 9 – Financial Instruments: Classif ication and Measurement (effective for annual periods beginning on or after 1 January

2018). The Group has adopted NZ IFRS 9 f rom 1 April 2018.

The impact of this standard did not have a material impact on the f inancial statements.

(f) New Accounting Standards and Interpretations

The Group has chosen not to early adopt the following standards that have been issued but are not yet effective:

NZ IFRS 16 – Leases (effective for annual periods beginning on or after 1 January 2019). NZ IFRS 16 Leases fundamentally changes

the way in which lessors account for leases. The Group will implement this standard f rom 1 April 2019. Under the new standard,

a lessee is in essence required to:

(i) Recognise a right of use assets and a lease liability for each lease, with the exception of short-term (under 12 months) and low

value leases, on the balance sheet. The liability is initially measured at the present value of future minimum lease payments

for the lease term. The right of use asset reflects the lease liability, initial direct costs, any lease payments made before the

commencement date of the lease less any lease incentives.

(ii) Recognise depreciation of right of use assets and interest on lease liabilities in the income statement over the lease term.

(iii) Separate the total amount of cash paid into a principal portion (presented within f inancing activities) and interest portion

(which the Group presents in operating activities) in the cash flow statement.

This standard will have a signif icant impact on a number of the Group’s earnings measures as well as an increase in both total

assets and liabilities.

The Group has determined that it will use the modif ied retrospective approach to transition. This will involve recording an

assessed cumulative impact of application as at 1 April 2019. The Group has performed modelling of the impact of the new

standard using lease information as at 31 March 2019. This suggests that:

Total assets and liabilities are likely to increase in the order of $575,898,000.

As the current rental expense will no longer be recognised, EBITDA is likely to increase in the order of $105,233,000.

As additional depreciation and interest costs will be recognised, prof it before tax will initially decrease by an amount of

approximately $7,584,000.

83
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(g) Revenue Recognition

In relation to f reight transactions, the Group considers its sole performance obligation to be the delivery of f reight to the final

destination. Ancillary services such as customs clearance are not considered to be separate performance obligations. Instead,

together with f reight they represent a bundle of performance obligations.

The Group considers that the performance obligation is satisf ied over time, and so will recognise the related revenue as the

performance obligation is satisf ied. In relation to domestic f reight the stage of completion is to be measured relative to cost

whereas in relation to air and ocean f reight it will be measured relative to time.

3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Group’s principal f inancial instruments, other than derivatives, comprise bank loans and overdrafts, cash and short term deposits,

director loans, trade creditors and accruals and trade debtors.

The main purpose of these f inancial instruments is to raise f inance and provide working capital for the Group’s operations.

The Group also enters into derivative transactions, principally interest rate swaps. The purpose is to manage the interest rate risks

arising f rom the Group’s operations and its sources of f inance. These are not currently hedge accounted.

The main risks arising f rom the Group’s f inancial instruments are cash flow interest rate risk, fair value interest rate risk, liquidity risk,

foreign currency risk and credit risk.

Details of the signif icant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement

and the basis on which income and expenses are recognised, in respect of each class of f inancial asset, f inancial liability and equity

instrument are disclosed in notes 2 and 4 to the f inancial statements and other relevant notes.

Cash Flow Interest Rate Risk

The Group’s exposure to cash flow risk through changes in market interest rates relates primarily to the Group’s long term debt

obligations with a floating interest rate. The level of debt is disclosed in note 19.

The Group’s policy is to manage its interest cost using a mix of f ixed and variable rate debt. To manage this mix in a cost efficient

manner, the Group enters into interest rate swaps, in which the Group agrees to exchange, at specif ied intervals, the difference

between f ixed and variable rate interest amounts calculated by reference to an agreed-upon notional principal amount. With the

current low interest rate environment, particularly in Europe and the USA, the Board decided not to enter into any swaps at this time.

At 31 March 2019 none of the Group’s borrowings are at a f ixed rate of interest (2018: nil).

Fair Value Interest Rate Risk

If the Group holds f ixed rate debt there is a risk that the economic value of a f inancial instrument will fluctuate because of changes

in market interest rates. The level of f ixed rate debt is disclosed in note 19 and it is acknowledged that this risk is a by product of the

Group’s attempt to manage its cash flow interest rate risk. The Group is also exposed to fair value interest rate risk through the use of

interest rate swaps. The Group accepts this risk as a by-product of its hedging strategy.

Interest on f inancial instruments classif ied as floating have their rates repriced at intervals of less than one year. Fixed rate instruments

are f ixed until the maturity of the instrument.

The Group constantly analyses its interest rate risk exposure. Within this analysis consideration is given to potential renewals of existing

positions, alternative f inancing and the mix of f ixed and variable interest rates.

The following sensitivity analysis is based on the interest rate exposures in existence at the balance sheet date.

At 31 March 2019, if interest rates had moved, as illustrated in the table below, with all other variables held constant, post tax prof it

(including swap fair value movements) would have been affected as follows:

Post Tax Profit

Higher (Lower)

2019

$000

2018

$000

+ 1.0% (100 Basis Points)(913)(1,378)

- 0.5% (50 Basis Points) 457 689

Foreign Currency Risk

Foreign currency risk is the risk that the value of the Group’s assets, liabilities and f inancial performance will fluctuate due to changes

in foreign currency rates.

The Group is primarily exposed to currency risk as a result of its operations in Australia, America, Europe and Asia.

The risk to the Group is that the value of the overseas subsidiaries’ and associates’ f inancial positions and f inancial performances will

fluctuate in economic terms and as recorded in the consolidated accounts due to changes in overseas exchange rates.

84
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

The Group economically hedges some of the currency risk relating to its Australian operations by holding a portion of its bank

borrowings in Australian dollars. Any foreign currency movement in the net assets of the Australian subsidiaries is partly offset by an

opposite movement in the Australian dollar loan. In addition the Group has loans in United States (US) dollars to assist in funding its US

operations and to offset the variability of future post interest f inancial performance to foreign exchange rate fluctuations. In addition

the Group has loans in Euros to assist in funding its European operations and to offset the variability of future post interest f inancial

performance to foreign exchange rate fluctuations. These foreign currency borrowings are held in Australian, US and New Zealand

entities respectively.

Included in bank term loans at 31 March 2019 is a borrowing of EU€99,700,000 (2018 €102,700,000) which has been designated as a

hedge of the net investments in the European subsidiaries. It is being used to hedge the Group’s exposure to changes in exchange

rates on the value of its net investments in Europe. Gains or losses on the retranslation of this borrowing are recognised in other

comprehensive income to offset any gains or losses on translation of the net investments in the subsidiaries. A net after tax gain on

the hedge of the net investment of NZ$2,587,753 (2018 net after tax loss $8,668,713) was recognised in other comprehensive income

for the period.

There is an economic relationship between the hedged item and the hedging instrument as the net investment creates a translation

risk that will match the foreign exchange risk on the EUR borrowing. The Group has established a hedge ratio of 1:1 as the underlying

risk of the hedging instrument is identical to the hedged risk component. Hedge ineffectiveness will arise when the amount of the

investment in the foreign subsidiary becomes lower than the amount of the f ixed rate borrowing.

2019

AU$000

2018

AU$000

Net Assets Relating to Australian Subsidiaries Exposed to Currency Risk139,967108,092

US$000US$000

Net Assets Relating to American & Asian Subsidiaries Exposed to Currency Risk 98,150 87,474

EU€000EU€000

Net Assets Relating to European Subsidiaries Exposed to Currency Risk 38,834 29,561

Currency movements in the foreign denominated balances above are reflected in the Foreign Currency Translation Reserve.

The movements were comprised of the following:

2019

NZ$000

2018

NZ$000

Retranslation of Net Assets in Foreign Subsidiaries1,144(1,978)

Tax on Unrealised Foreign Exchange Gain(1,006)3,371

MOVEMENT IN FOREIGN CURRENCY TRANSLATION RESERVE1381,393

The Group is exposed to currency risk in relation to trading balances denominated in other than the NZ dollar, principally by the

trading of the Group’s overseas businesses.

At 31 March 2019 the Group has the following monetary assets and liabilities denominated in foreign currencies: 78% of trade accounts

payable (2018 79%), 77% of trade accounts receivable (2018 77%), 72% of cash assets (2018 85%), and 100% of cash liabilities (2018 100%).

These amounts are inclusive of the above balances held in foreign subsidiaries.

The following sensitivity is based on the foreign currency risk exposures in existence at the balance sheet date:

At 31 March 2019, had the New Zealand Dollar moved as illustrated in the table below with all other variables held constant, post tax

prof it and equity would have been affected as follows:

Judgements of reasonably possible movements:

Post Tax Profit

Higher / (Lower)

Equity

Higher / (Lower)

2019

$000

2018

$000

2019

$000

2018

$000

NZD/USD +10% (2,563)(1,292)(13,976)(11,201)

NZD/USD -10% 3,1341,58017,08213,690

NZD/AUD +10% (2,457) (2,164) (14,509) (13,593)

NZD/AUD -10% 3,0042,64617,73316,614

NZD/EURO +10%(1,104)(631)(10,215)(10,193)

NZD/EURO -10%1,35077212,48512,459

The movement in equity is a combination of movement in post tax prof it and the movement in the Foreign Currency Translation

Reserve as values of overseas investments in subsidiaries change.

Management believes the balance date risk exposures are representative of the risk exposure inherent in the f inancial instruments.

85
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

Credit Risk

In the normal course of business the Group is exposed to credit risk f rom f inancial instruments including cash, trade receivables, loans

to team members and derivative f inancial instruments.

Receivable balances are monitored on an ongoing basis with the result that, in management’s view, the Group’s exposure to bad debts

is not signif icant. The Group does not have concentrations of credit risk by industry but does have concentrations by geographical

sectors (refer to Segment Reporting in note 5).

With respect to credit risk arising f rom the other f inancial assets of the Group, which comprise cash and cash equivalents, loans to

team members and certain derivative instruments, the Group’s exposure to credit risk arises f rom default of the counterparty, with a

maximum exposure equal to the carrying amount of these instruments. The Group has a policy only to deal with registered banks or

f inancial institutions with high quality credit ratings.

It is the Group's policy that customers considered higher risk who wish to trade on credit terms are subject to credit verif ication

procedures including an assessment of their independent credit rating, f inancial position, past experience and industry reputation.

Risk limits are set for each individual customer in accordance with parameters set by the Board. These risk limits are regularly

monitored.

Liquidity Risk

Liquidity risk represents the Group’s ability to meet its contractual obligations. The Group’s objective is to maintain a balance between

continuity of funding and flexibility through the use of bank overdrafts, bank loans, and f inance leases. The Board considers that,

in general, the Group has suff icient cash flows f rom operating activities to meet their obligations. If there are projected shortfalls,

management ensures adequate committed f inance is available.

At 31 March 2019, none of the Group's debt will mature in less than one year (2018: nil).

The table below reflects all contractually f ixed payments and receivables for settlement, repayments and interest resulting f rom

recognised f inancial assets and liabilities, including derivative f inancial instruments as of 31 March 2019. The respective undiscounted

cash flows for the respective upcoming f iscal years are presented. Cash flows for f inancial assets and liabilities without f ixed amount

or timing are based on the conditions existing at 31 March 2019.

The remaining contractual maturities of the Group's f inancial liabilities are:

2019 Year ($000)2018 Year ($000)

<6

months

6-12

months

1-2

years

2-5

YearsTotal

<6

months

6-12

months

1-2

years

2-5

YearsTotal

Term Loan2,2182,2184,435243,088251,9592,6752,6755,351276,104286,805

Overdraft4---436---36

Creditors314,925---314,925295,000---295,000

Others1,1911,1922,5622,4157,3601,1081,1071,7452,9806,940

TOTAL318,3383,4106,997245,503574,248298,8193,7827,096279,084588,781

At balance date, the Group has approximately $223 million (2018: $194 million) of unused credit facilities available for its immediate use.

Fair Value

The Group uses various methods in estimating the fair value of assets carried at fair value. The methods comprise:

• Level 1: the fair value is calculated using quoted prices in active markets

• Level 2: the fair value is estimated using inputs other than quoted prices included in Level 1 that are observable for the asset or

liability, either directly (as prices) or indirectly (derived f rom prices)

• Level 3: the fair value is estimated using inputs for the asset or liability that are not based on observable market data

The methods for estimating fair value are outlined in the relevant notes to the f inancial statements. Refer to note 14.

86
4 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

In applying the Group’s accounting policies, management continually evaluates judgements, estimates and assumptions based

on experience and other factors, including expectations of future events that may have an impact on the Group. All judgements,

estimates and assumptions made are believed to be reasonable based on the most current set of circumstances available to

management. Actual results may differ f rom the judgements, estimates and assumptions and the differences may be material.

Signif icant judgements, estimates and assumptions made by management in the preparation of these f inancial statements are

discussed within the specif ic accounting policy or note as shown below:

Area of JudgementNote

Allocation of Goodwill15

Impairment of Goodwill and Intangibles with Indef inite Useful Lives15

Allowance for Expected Credit Loss on Trade Debtors11

Estimation of Useful Lives of Assets14 & 15

Estimation of Land Valuation14

Timing of Revenue Recognition3

5 SEGMENTAL REPORTING

An operating segment is a component of an entity that engages in business activities f rom which it may earn revenues and incur

expenses whose operating results are regularly reviewed by the entity’s chief operating decision maker and for which discrete financial

information is available.

The Group operates in the domestic supply chain (i.e. moving and storing f reight within countries) and air and ocean f reight industries

(i.e. moving f reight between countries).

New Zealand, Australia, The Americas and Europe are each reported to management as one segment as the businesses there perform

both domestic and air and ocean services.

The accounting policies of the operating segments are the same as those described in the notes in note 2 with the exception of

deferred tax and the fair value of derivative f inancial instruments which are not reported on a monthly basis. The segmental results

f rom operations are disclosed below.

Geographical Segments

The following table represents revenue, margin and certain asset information regarding geographical segments for the years ended

31 March 2019 and 31 March 2018.

Year Ended 31 March 2019

New

Zealand


Australia

The

Americas


Asia


Europe

Inter-

Segment

Total

$000

OPERATING REVENUE

- Sales to customers

outside the group 718,791 760,844 725,200 109,321 639,931 - 2,954,087

- Inter-segment sales (590) 18,646 54,544 77,409 37,578 (187,587) -

TOTAL REVENUE 718,201 779,490 779,744 186,730 677,509 (187,587) 2,954,087

EBITDA 110,556 59,323 38,342 9,263 39,565 - 257,049

Depreciation &

Amortisation 22,638 8,163 6,565 657 15,084 - 53,107

Capital Expenditure 48,595 20,767 9,112 1,325 23,477 - 103,276

Trade Receivables 89,966 98,431 104,439 17,571 102,169 (22,200) 389,376

Non-current Assets 423,238 193,231 91,048 11,802 223,506 - 942,825

Total Assets 548,788 322,949 218,750 52,762 381,840 (22,200) 1,502,889

Total Liabilities210,262 142,957 113,099 24,392 196,064 (22,200) 664,574

87
5 SEGMENTAL REPORTING (CONTINUED)

Year Ended 31 March 2018

New

Zealand


Australia

The

Americas


Asia


Europe

Inter-

Segment

Total

$000

OPERATING REVENUE

- Sales to customers

outside the group 666,039 674,679 608,846 117,308 549,828 - 2,616,700

- Inter-segment sales 294 18,631 40,811 64,084 30,228 (154,048) -

TOTAL REVENUE 666,333 693,310 649,657 181,392 580,056 (154,048) 2,616,700

EBITDA 98,531 54,002 26,621 6,883 29,077 - 215,114

Depreciation &

Amortisation 21,174 7,173 5,786 644 13,011 - 47,788

Capital Expenditure 33,463 7,860 6,495 240 21,173 - 69,231

Trade Receivables 85,475 92,321 94,181 15,212 93,488 (18,940) 361,737

Non-current Assets 372,010 175,197 83,823 11,094 223,388 - 865,512

Total Assets 473,466 299,529 200,561 50,897 371,190 (18,940) 1,376,703

Total Liabilities202,686 146,995 114,872 22,245 199,287 (18,940) 667,145

Division Segments

The following table represents revenue and EBITDA regarding the three main types of services for the years ended 31 March 2019

and 31 March 2018.

Year Ended 31 March 2019

Domestic

Transport


Warehousing

Air & Ocean

Forwarding

Total

$000

Revenue 1,450,942 346,567 1,156,578 2,954,087

EBITDA 156,681 37,282 63,086 257,049

Year Ended 31 March 2018

Domestic

Transport


Warehousing

Air & Ocean

Forwarding

Total

$000

Revenue 1,297,013 289,080 1,030,607 2,616,700

EBITDA 128,382 33,142 53,590 215,114

Reconciliation between Segment EBITDA and the Income Statement

2019

$000

2018

$000

Prof it f rom Operations Before Abnormal Items and Taxation for the Year 197,074 160,270

Interest Income (673) (511)

Derivative Fair Value Movement - -

Non-cash Share Based Payment Expense - -

Finance Costs 7,541 7,567

Depreciation & Amortisation 53,107 47,788

EBITDA 257,049 215,114

EBITDA is def ined as earnings before net interest expense, tax, depreciation, amortisation, abnormal items, royalties, share based

payment expense, minority interests and associates.

There are no customers in any segment that comprise more than 10% of that segment's revenue.

Bank term loan is allocated based on segment net assets excluding bank term loan.

The geographical segments are determined based on the location of the Group's assets.

88
6 EXPENSES AND OTHER INCOME

The Prof it before Taxation is stated:

2019

$000

2018

$000

AFTER CHARGING:

Audit Fees - Parent Company Auditors1,731 1,465

Audit Fees - Other Auditors 108 65

Other Fees Paid to Parent Co Auditors

Assurance Related Services and Agreed Upon Procedures - 8

Tax Advice and Compliance 730 645

Financial Statement Compilation - 23

Other Services including Legal Advice and Accounting Advice - 55

Employee Benef its Expense

Wages and Salaries 611,963 537,805

Directors’ Fees 678 678

TOTAL EMPLOYEE BENEFITS 612,641 538,483

Interest: Variable Loans 7,351 7,424

Finance Leases 190 143

Derivative Fair Value Movement - -

Donations 1,102 1,076

Rental & Operating Lease Costs 80,627 80,830

AFTER CREDITING OTHER INCOME:

Interest Income 673 511

Net Gain / (Loss) on Foreign Exchange 4,882 2,111

Net Gain / (Loss) on Disposal of Property, Plant & Equipment 3,280 1,339

Rental Income 619 1,156

89
7 INCOME TAX

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered f rom or paid

to the taxation authorities based on the current period’s taxable income. The tax rates and tax laws used to compute the amount are

those that are enacted or substantively enacted by the balance sheet date.

Deferred income tax is generally provided on all temporary differences at the balance sheet date between the tax bases of assets and

liabilities and their carrying amounts for f inancial reporting purposes.

Deferred income tax liabilities are recognised for all taxable temporary differences except:

• When the deferred income tax liability arises f rom the initial recognition of goodwill or of an asset or liability in a transaction that

is not a business combination and that, at the time of the transaction, affects neither the accounting prof it nor taxable prof it or

loss; or

• When the taxable temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures, and

the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not

reverse in the foreseeable future.

Deferred income tax assets are recognised for all deductible temporary differences, carry-forward of unused tax credits and unused

tax losses, to the extent that it is probable that taxable prof it will be available against which the deductible temporary differences and

the carry-forward of unused tax credits and unused tax losses can be utilised, except:

• When the deferred income tax asset relating to the deductible temporary difference arises f rom the initial recognition of an asset

or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting

prof it nor taxable prof it or loss; or

• When the deductible temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures,

in which case a deferred tax asset is only recognised to the extent that it is probable that the temporary difference will reverse in

the foreseeable future and taxable prof it will be available against which the temporary difference can be utilised.

The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no

longer probable that suff icient taxable prof it will be available to allow all or part of the deferred income tax asset to be utilised.

Unrecognised deferred income tax assets are reassessed at each balance sheet date and are recognised to the extent that it has

become probable that future taxable prof it will allow the deferred tax asset to be recovered.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised

or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

Income taxes relating to items recognised directly in equity are recognised in equity and not in prof it or loss.

Deferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current tax assets against

current tax liabilities and the deferred tax assets and liabilities relate to the same taxable entity and the same taxation authority.

2019

$000

2018

$000

Prof it Before Taxation for the Year 192,109 153,046

Prima Facie Taxation at 28% NZ, 30% Australia, 37% USA, 16.5% Hong Kong, 25% China, 25% Europe 52,867 44,840

(31 March 2018 28% NZ, 30% Australia, 37% USA, 16.5% Hong Kong, 25% China, 25% Europe)

Adjusted by the Tax Effect of:

Prior Year Tax Adjustments 531 384

Tax Rate Change - (722)

Non-deductible Expenses 1,087 866

AGGREGATE INCOME TAX EXPENSE 54,485 45,368

Current Tax 53,890 46,764

Deferred Tax 595 (1,396)

54,485 45,368

Imputation Credit Account

2019

$000

2018

$000

THE AMOUNT OF CREDITS AVAILABLE FOR USE IN SUBSEQUENT REPORTING PERIODS 52,687 46,412

90
7 INCOME TAX (CONTINUED)

Recognised Deferred Tax Assets and Liabilities

Balance SheetIncome Statement

2019

$000

2018

$000

2019

$000

2018

$000

(i) Deferred Tax Assets

Doubtful Debts893 923 55 309

Provisions:

Annual Leave4,405 3,813 (604) (371)

Long Service Leave2,801 2,594 (252) (293)

Bonuses6,731 5,438 (1,285) (250)

Superannuation3 8 4 220

ACC24 13 (10) (6)

Other5,464 6,059 534 783

Foreign Exchange Impact-- (152) 1,508

Gross Deferred Tax Assets 20,321 18,848

Set-off of Deferred Tax Liabilities 14,087 9,966

NET DEFERRED TAX ASSETS PER BALANCE SHEET 6,234 8,882

(ii) Deferred Tax Liabilities

Deferred Tax on Property, Plant & Equipment 31,831 27,943 4,016 (1,474)

Customer Lists 696 1,234 (430) (886)

Brand Names 952 1,966 (1,014) (670)

Unrealised FX Gains / Losses 81 349 (267) (266)

Gross Deferred Tax Liabilities 33,560 31,492

Set-off of Deferred Tax Liabilities Against Assets 14,087 9,966

NET DEFERRED TAX LIABILITIES PER BALANCE SHEET 19,473 21,526

DEFERRED TAX (INCOME) / EXPENSE 595 (1,396)

8 DIVIDENDS PAID AND PROPOSED

2019

$000

2018

$000

RECOGNISED AMOUNTS

Declared and Paid During the Year to Parent Shareholders

Final Fully Imputed Dividend for 2018: 26.0 cents (2017: 24.0 cents) 26,182 24,168

Interim Fully Imputed Dividend for 2019: 22.0 cents (2018: 19.0 cents) 22,153 19,133

48,335 43,301

UNRECOGNISED AMOUNTS

Final Fully Imputed Dividend for 2019: 34.0 cents (2018: 26.0 cents) 34,238 26,182

After the balance date, the above unrecognised dividends were approved by directors' resolution dated 27 May 2019.

These amounts have not been recognised as a liability in 2019 but will be brought to account in 2020.

91
9 EARNINGS PER SHARE

Basic earnings per share is calculated as net prof it attributable to members of the Parent, adjusted to exclude any costs of servicing

equity (other than dividends), divided by the weighted average number of ordinary shares.

Diluted earnings per share is calculated as net prof it attributable to members of the parent, adjusted for:

• Costs of servicing equity (other than dividends);

• The after tax effect of dividends and interest associated with dilutive potential ordinary shares that have been recognised as

expenses; and

• Other non-discretionary changes in revenues or expenses during the period that would result f rom the dilution of potential

ordinary shares;

divided by the weighted average number of ordinary shares and dilutive potential ordinary shares.

The following reflects the income used in the basic and diluted earnings per share computations:

Net prof it f rom continuing operations attributable to ordinary equity holders of the Parent.

2019

$000

2018

$000

FOR BASIC AND DILUTED EARNINGS PER SHARE

Net Prof it Attributable to Ordinary Equity Holders of the Parent 137,624 107,678

WEIGHTED AVERAGE NUMBER OF SHARES

ThousandsThousands

Weighted Number of Ordinary Shares for Basic Earnings Per Share100,699 100,699

Effect of Dilution; Weighted Number of Partly Paid Shares - -

Weighted Number of Ordinary Shares Adjusted for the Effect of Dilution100,699 100,699

CentsCents

Earnings Per Share: Total Operations136.67106.93

Diluted Earnings Per Share: Total Operations136.67106.93

Partly Paid Redeemable Shares granted to team members as described in note 21 were considered to be potential ordinary shares

and have been included in the determination of diluted earnings per share. They have not been included in the determination of basic

earnings per share.

10 CURRENT ASSETS – CASH AND CASH EQUIVALENTS

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits with an original maturity

of three months or less that are readily convertible to known amounts of cash and which are subject to an insignif icant risk of changes

in value.

Cash at bank earns interest at floating rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents

represent fair value.

Reconciliation to Cash Flow Statement

For the purposes of the Cash Flow Statement, cash and cash equivalents comprise the following at 31 March:

2019

$000

2018

$000

Cash at Bank and in Hand 115,184 80,521

Bank Overdrafts (4) (36)

AS PER CASH FLOW STATEMENT 115,180 80,485

92
11 CURRENT ASSETS – TRADE DEBTORS

Trade debtors are non-interest bearing and are generally on 7-30 day terms. They are recognised initially at fair value and subsequently

measured at amortised cost using the effective interest method, less an allowance for impairment.

Collectability of trade debtors is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off when identif ied.

The Group applies a simplif ied approach in calculating expected credit losses. Therefore, the Group does not track changes in credit

risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. This is based on historical

credit loss experience, adjusted for forward-looking factors specif ic to the debtors and the economic environment. Trade debtors are

written off as bad debts when all avenues of collection have been exhausted. Due to the short term nature of these debtors, their

carrying value is assumed to approximate fair value.

2019

$000

2018

$000

Trade Debtors393,230 366,178

Allowance for Impairment Loss(3,854)(4,441)

389,376 361,737

Movements in the allowance for impairment were as follows:

Balance at 1 April 4,441 4,571

Charge for the Year 2,770 2,773

Acquired Businesses - -

Amounts Written Off (3,357) (2,903)

BALANCE AT 31 MARCH 3,854 4,441

At 31 March, the ageing analysis of trade receivables is as follows:

$000Total

0-30

Days

31-60

Days

61-90

Days

PDNI*

61-90

Days

CI#

+91

Days

PDNI*

+91

Days

CI#

2019393,230 266,603 94,412 17,607 147 10,754 3,707

2018366,178 237,438 90,079 21,160 454 13,061 3,986

* Past due not impaired (PDNI)

# Considered Impaired (CI)

Credit risk management policy is disclosed in note 3.

The maximum exposure to credit risk is the fair value of receivables. Collateral is not held as security, nor is it the Group’s policy to

transfer receivables.

12 CURRENT ASSETS – OTHER RECEIVABLES

2019

$000

2018

$000

Sundry Prepayments and Other Receivables 55,304 60,811

CARRYING AMOUNT OF OTHER RECEIVABLES 55,304 60,811

93
13 INVESTMENT IN SUBSIDIARY COMPANIES

Principal Subsidiary Companies all with

31 March Balance Dates Include: Principal Activity

Country of

Incorporation

2019

Shareholding

2018

Shareholding

Daily Freight (1994) LtdDomestic Freight ForwardingNew Zealand100.0%100.0%

Owens Transport LtdDomestic Freight ForwardingNew Zealand100.0%100.0%

Mainf reight Air & Ocean LtdAir & Ocean Freight ForwardingNew Zealand100.0%100.0%

Owens Group LtdGroup ServicesNew Zealand100.0%100.0%

Mainf reight Distribution Pty LtdDomestic Freight ForwardingAustralia100.0%100.0%

Owens Transport Pty LtdDomestic Freight ForwardingAustralia100.0%100.0%

Mainf reight Air & Ocean Pty LtdAir & Ocean Freight ForwardingAustralia100.0%100.0%

Mainf reight Holdings Pty LtdHolding CompanyAustralia100.0%100.0%

Mainf reight Finance AustraliaHolding PartnershipAustralia100.0%100.0%

Carotrans International Inc.Air & Ocean Freight ForwardingUnited States100.0%100.0%

Mainf reight, Inc.Domestic & Air & Ocean Freight

Forwarding

United States100.0%100.0%

Mainf reight USA PartnershipHolding PartnershipUnited States100.0%100.0%

Carotrans (Chile) LimitadaAir & Ocean Freight ForwardingChile100.0%100.0%

Mainf reight, Inc.Air & Ocean Freight ForwardingCanada100.0%100.0%

Mainf reight Mexico S de RL de CVAir & Ocean Freight ForwardingMexico100.0%100.0%

Mainf reight Hong Kong LtdAir & Ocean Freight ForwardingHong Kong100.0%100.0%

Mainf reight China Ltd Air & Ocean Freight ForwardingHong Kong100.0%100.0%

Mainf reight Int.Logistics (Shanghai) Co LtdAir & Ocean Freight ForwardingChina100.0%100.0%

Mainline Global Logistics Pte LtdAir & Ocean Freight ForwardingSingapore100.0%100.0%

Mainf reight Global Taiwan LtdAir & Ocean Freight ForwardingTaiwan100.0%100.0%

Mainf reight (Thailand) Co LtdAir & Ocean Freight ForwardingThailand100.0%100.0%

Mainf reight Vietnam Company LtdAir & Ocean Freight ForwardingVietnam100.0%100.0%

Mainf reight Logistics (Malaysia) Sdn BhdAir & Ocean Freight ForwardingMalaysia100.0%n/a

Mainf reight Japan Co LtdAir & Ocean Freight ForwardingJapan100.0%n/a

Mainf reight Netherlands Coop UAHolding EntityNetherlands100.0%100.0%

Mainf reight Netherlands International BVHolding EntityNetherlands100.0%100.0%

Mainf reight Holding BVHolding EntityNetherlands100.0%100.0%

Debo Montferland BVHolding EntityNetherlands100.0%100.0%

Mainf reight Customs Clearance BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Forwarding Netherlands BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Transport Netherlands BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Crossdock BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight BVAir & Ocean Freight ForwardingNetherlands100.0%100.0%

Wim Bosman C.E.E. BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Logistic Services Netherlands BV Domestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Logistic Services Geleen BVDomestic Freight ForwardingNetherlands100.0%100.0%

SystemPlus Logistics Services BVDomestic Freight ForwardingNetherlands100.0%100.0%

Mainf reight Support Belgium NVGroup ServicesBelgium100.0%100.0%

SystemPlus Logistics Services NVDomestic Freight ForwardingBelgium100.0%100.0%

Mainf reight Forwarding Belgium NVDomestic Freight ForwardingBelgium100.0%100.0%

Mainf reight Transport Belgium BVBADomestic Freight ForwardingBelgium100.0%100.0%

Mainf reight Logistic Services Belgium NVDomestic Freight ForwardingBelgium100.0%100.0%

Mainf reight N.V.Air & Ocean Freight ForwardingBelgium100.0%100.0%

Mainf reight France SADomestic Freight ForwardingFrance100.0%100.0%

Mainf reight SASAir & Ocean Freight ForwardingFrance100.0%100.0%

Mainf reight Poland Sp ZOODomestic Freight ForwardingPoland100.0%100.0%

Mainf reight Sp ZOOAir & Ocean Freight ForwardingPoland100.0%100.0%

Mainf reight S.R.L.Domestic Freight ForwardingRomania100.0%100.0%

Mainf reight Russ LLCDomestic Freight ForwardingRussia100.0%100.0%

Mainf reight GmbHAir & Ocean Freight ForwardingGermany100.0%100.0%

Mainf reight Ukraine LLCDomestic Freight ForwardingUkraine100.0%100.0%

Mainf reight UK LtdAir & Ocean Freight ForwardingU.K.100.0%100.0%

Mainf reight Italy SRLAir & Ocean Freight ForwardingItaly100.0%100.0%

94
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, except land, is stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost of replacing the

parts is incurred. All other repairs and maintenance are recognised in prof it or loss as incurred.

Land is measured at fair value, based on valuations by external independent valuers who apply the International Valuation Standards

Committee International Valuation Standards, less any impairment losses recognised after the date of the revaluation. Land is revalued

at least every three years with the last valuation done as at 31 March 2019.

Depreciation is calculated on a straight-line basis at rates calculated to allocate the assets’ cost, less estimated residual value, over their

estimated useful lives as follows:

Per annum

Landnot depreciated

Buildings 2% to 3%

Leasehold Improvements10% or life of lease if shorter

Plant, Vehicles and Equipment8% to 36%

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each f inancial year end.

Revaluations of Land

Revaluations increment is credited to other comprehensive income and accumulated in the asset revaluation reserve except to the

extent that it reverses a revaluation decrease of the same asset previously recognised in prof it or loss, in which case the increase is

recognised in prof it or loss.

Any revaluation decrement is recognised in prof it or loss, except to the extent that it offsets a previous revaluation increase for the

same asset, in which case the decrease is debited directly to other comprehensive income to the extent of the credit balance existing

in the revaluation reserve for that asset.

Disposal

An item of property, plant and equipment is de-recognised upon disposal or when no further future economic benef its are expected

f rom its use or disposal.

Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying

amount of the asset) is included in prof it or loss in the year the asset is de-recognised.

(a) Reconciliation of Carrying Amounts at the Beginning and End of the Year


Year Ended 31 March 2019

Land

$000

Buildings

$000

Leasehold

Improvements

$000

Plant,

Vehicles

& Equipment

$000

Leased

Plant,

Vehicles

& Equipment

$000

Work in

Progress

$000

Total

$000

At 1 April 2018,

Net of Accumulated

Depreciation 157,067 310,431 14,692 91,344 1,936 6,840 582,310

Additions 17,547 5,442 4,799 40,220 1,124 18,541 87,673

Disposals (32) (1,496) (6) (4,072) (61) (165) (5,832)

Transfer Between Asset

Classif ications - 2,087 - 2,371 465 (4,923) -

Revaluations 43,652 - - - - - 43,652

Depreciation Charge

for the Year (5) (12,134) (2,933) (20,501) (960) - (36,533)

Foreign Exchange

Impact (1,743) (2,685) 166 (205) (31) (143) (4,641)

AT 31 MARCH 2019,

NET OF ACCUMULATED

DEPRECIATION 216,486 301,645 16,718 109,157 2,473 20,150 666,629

Cost or Fair Value 216,486 427,043 40,338 266,787 10,538 20,150 981,342

Accumulated

Depreciation - (125,398) (23,620) (157,630) (8,065) - (314,713)

NET CARRYING AMOUNT 216,486 301,645 16,718 109,157 2,473 20,150 666,629

Work in progress net carrying amount included $12,793,000 for property (2018 $1,298,000).

95
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT (CONTINUED)


Year Ended 31 March 2018

Land

$000

Buildings

$000

Leasehold

Improvements

$000

Plant,

Vehicles

& Equipment

$000

Leased

Plant,

Vehicles

& Equipment

$000

Work in

Progress

$000

Total

$000

At 1 April 2017,

Net of Accumulated

Depreciation 154,931 304,347 13,396 80,069 4,140 13,823 570,706

Additions 4,990 5,069 4,152 30,634 222 6,438 51,505

Disposals (195) (202) (57) (3,962) (90) - (4,506)

Transfer Between Asset

Classif ications (4,856) 10,170 - 1,624 (1,312) (13,683) (8,057)***

Revaluations - - - - - - -

Depreciation Charge

for the Year (6) (11,670) (2,618) (17,512) (1,400) - (33,206)

Foreign Exchange

Impact 2,203 2,717 (181) 491 376 262 5,868

AT 31 MARCH 2018,

NET OF ACCUMULATED

DEPRECIATION 157,067 310,431 14,692 91,344 1,936 6,840 582,310

Cost or Fair Value 157,113 426,338 35,266 232,384 11,105 6,840 869,046

Accumulated

Depreciation (46) (115,907) (20,574) (141,040) (9,169) - (286,736)

NET CARRYING AMOUNT 157,067 310,431 14,692 91,344 1,936 6,840 582,310

*** The transfer between asset classif ication in 2018 of $8,057,000 comprised transfers out of f ixed assets to properties held for sale of

$7,852,000 and transfer out to software intangibles of $205,000.

At 31 March 2019 independent registered valuers performed a valuation of the Group's New Zealand and overseas land, buildings and

leasehold improvements. A summary of the 2019 valuations are:

Registered Valuer Country

Weighted Average

Capitalisation Rate Valuation 2019

Extensor Advisory Ltd New Zealand 5.94% NZ$406,300,000

Charter Keck Cramer Australia 6.50% AU$6,200,000

Jones Lang LaSalle Australia 5.91% AU$116,650,000

DTZ Zadelhoff V.O.F. Netherlands 7.40% EU€23,259,356

DTZ Zadelhoff BE Belgium 8.50% EU€28,174,180

Galtier Expertise France 7.50% EU€4,457,219

Nica Violeta Cornelia Romania 10.50% EU€7,231,061

GROUP TOTAL NZ$639,105,292

The element of this valuation related to land has been recorded in the f inancial statements resulting in the revaluation of land by

$89,371,000 (2018 $51,254,000) above cost.

The element of this valuation related to buildings has not been recorded in the f inancial statements. If it had been recorded a

revaluation in buildings of $120,868,000 (2018 $75,155,000) would have occurred. In addition a deferred tax liability of $10,157,000 (2018

$10,591,000 would have needed to be recorded resulting in an increase in the Revaluation Reserve of $110,711,000 (2018 $64,564,000).

In determining the fair value of land, the valuers have considered relevant general and economic factors and in particular have

investigated recent sales and leasing transactions of comparable properties that have occurred in the relevant locations within which

the assets sit. The valuers have used two principal approaches which are a capitalisation analysis and a direct comparison approach.

The valuations of land have been determined using some inputs that are not observable in the market, namely capitalisation rate and

the cashflows, and as a result these are considered level 3 valuations.

Included in the Group book values above but not in the valuations are Leasehold Improvements of $14,296,000 (2018 $12,148,000).

There were no properties held for sale included in these valuations (2018 $7,852,000).

Leased plant, vehicles and equipment is pledged as security for the related f inance lease liabilities.

96
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

(b) Carrying Amounts if Land Was Measured at Cost Less Accumulated Impairment

If Land, including properties for sale, was measured using the cost model the carrying amounts would be as follows:

2019

$000

2018

$000

Cost 127,115 111,982

Accumulated Impairment - -

NET CARRYING AMOUNT 127,115 111,982

15 NON-CURRENT ASSETS - INTANGIBLE ASSETS AND GOODWILL

(i) Goodwill

Goodwill acquired in a business combination is initially measured at cost being the excess of the cost of the business combination

over the Group’s interest in the net fair value of the acquiree’s identif iable assets, liabilities and contingent liabilities.

Following initial recognition, goodwill is measured at cost less any accumulated impairment losses.

For the purpose of impairment testing, goodwill acquired in a business combination is, f rom the acquisition date, allocated to each

of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benef it f rom the synergies of the

combination, irrespective of whether other assets or liabilities of the business acquired are assigned to those units or groups of units.

Each unit or group of units to which the goodwill is so allocated:

• Represents the lowest level within the Group at which the goodwill is monitored for internal management purposes; and

• Is not larger than a segment based on the Group’s operating segments determined in accordance with NZ IFRS 8 Segment

Reporting.

Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units), to

which the goodwill relates. When the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the

carrying amount, an impairment loss is recognised. When goodwill forms part of a cash-generating unit (group of cash-generating

units) and an operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the

carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this manner

is measured based on the relative values of the operation disposed of and the portion of cash-generating unit retained.

Impairment losses recognised for goodwill are not subsequently reversed.

(ii) Intangible

Intangible assets acquired separately or in a business combination are initially measured at cost. The cost of an intangible asset

acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, intangible assets are

carried at cost less any accumulated amortisation and any accumulated impairment losses. Internally generated intangible assets,

excluding capitalised development costs, are not capitalised and expenditure is recognised in prof it or loss in the year in which the

expenditure is incurred.

The useful lives of intangible assets are assessed to be either f inite or indef inite. Intangible assets with f inite lives are amortised over

the useful life and tested for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation

period and the amortisation method for an intangible asset with a f inite useful life are reviewed at least at each f inancial year-end.

Changes in the expected useful life or the expected pattern of consumption of future economic benef its embodied in the asset are

accounted for prospectively by changing the amortisation period or method, as appropriate, which is a change in accounting estimate.

The amortisation expense on intangible assets with f inite lives is recognised in prof it or loss in the expense category consistent with

the function of the intangible asset.

Intangible assets with indef inite useful lives are tested for impairment annually either individually or at the cash-generating unit

(group of cash-generating units) level. Such intangibles are not amortised. The useful life of an intangible asset with an indef inite life

is reviewed each reporting period to determine whether the indef inite life assessment continues to be supportable. If not, the change

in the useful life assessment f rom indef inite to f inite is accounted for as a change in an accounting estimate and is thus accounted

for on a prospective basis.

97
15 NON-CURRENT ASSETS - INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

Customer Lists and Relationships

Amortisation method used:

Amortised over the period of expected future benef it f rom the acquired customer list on a straight line basis generally f rom four to

ten years.

Internally generated or acquired:

Acquired.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identif ied an impairment test is completed.

The amortisation method is reviewed at each f inancial year-end.

Agency Agreements

Amortisation method used:

Amortised over the period of expected future benef it f rom the acquired agencies on a straight line basis generally f rom ten to twenty

years

Internally generated or acquired:

Acquired.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identif ied an impairment test is completed.

The amortisation method is reviewed at each f inancial year-end.

Brand Names

Amortisation method used:

The Brand Names are considered to have indef inite useful lives as the Group has rights to these names in perpetuity.

Internally generated or acquired:

Acquired.

Impairment testing:

Tested annually for impairment.

With the process of rebranding our European operations to Mainf reight continuing it was decided to impair the purchased brand of

Wim Bosman by a further one third in the 2019 f inancial year (2018 one third). This impairment entry has no cash impact.

(iii) Software

The Group uses both internal and external resources to develop software. An intangible asset arising f rom expenditure on an internal

project is recognised only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will

be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic

benef its, the availability of resources to complete the development and the ability to measure reliably the expenditure attributable to

the intangible asset during its development. Following the initial recognition of the expenditure, the cost model is applied requiring

the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Any expenditure so capitalised

is amortised over the period of expected benef it f rom the related project.

The carrying value of an intangible asset arising f rom development expenditure is tested for impairment annually when the asset is

not yet available for use,or more f requently when an indication of impairment arises during the reporting period.

A summary of the policies applied to the Group’s software assets is as follows:

Software

Amortisation method used:

Amortised over the period of expected future benef it f rom the related project on a straight line basis generally f rom three to ten years.

Internally generated or acquired:

Both.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identif ied an impairment test is completed.

The amortisation method is reviewed at each f inancial year-end.

Gains or losses arising f rom de-recognition of an intangible asset are measured as the difference between the net disposal proceeds

and the carrying amount of the asset and are recognised in prof it or loss when the asset is de-recognised.

98
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(a) Reconciliation of Carrying Amounts at the Beginning and End of the Year


Year Ended 31 March 2019

Agency

Agreements

$000

Customer

Lists /

Rel’ships

$000

***

Software

$000

Goodwill

$000

Brand

Names

$000

Total

$000

At 1 April 2018, Net of Accumulated

Amortisation 2,781 6,383 49,374 207,919 7,863 274,320

Adjustment for Movement in

Exchange Rate 110 (146) 152 603 (144) 575

Additions - - 15,603 - - 15,603

Amortisation (447) (2,100) (14,027) - - (16,574)

Disposals - - (50) - - (50)

Impairment - - - - (3,912) (3,912)

Transfer Between Asset Classif ications - - - - - -

AT 31 MARCH 2019, NET OF

ACCUMULATED AMORTISATION 2,444 4,137 51,052 208,522 3,807 269,962

Cost (Gross Carrying Amount) 7,038 27,382 130,240 227,550 11,422 403,632

Accumulated Amortisation and

Impairment (4,594) (23,245) (79,188) (19,028) (7,615) (133,670)

NET CARRYING AMOUNT 2,444 4,137 51,052 208,522 3,807 269,962


Year Ended 31 March 2018

Agency

Agreements

$000

Customer

Lists /

Rel’ships

$000

***

Software

$000

Goodwill

$000

Brand

Names

$000

Total

$000

At 1 April 2017, Net of Accumulated

Amortisation 3,219 7,595 43,086 200,721 10,546 265,167

Adjustment for Movement in

Exchange Rate (17) 808 544 7,198 1,080 9,613

Additions - - 17,726 - - 17,726

Amortisation (421) (2,020) (12,141) - - (14,582)

Disposals - - (46) - - (46)

Impairment - - - - (3,763) (3,763)

Transfer Between Asset Classif ications - - 205 - - 205

AT 31 MARCH 2018, NET OF

ACCUMULATED AMORTISATION 2,781 6,383 49,374 207,919 7,863 274,320

Cost (Gross Carrying Amount) 6,829 27,667 115,678 226,956 11,795 388,925

Accumulated Amortisation

and Impairment (4,048) (21,284) (66,304) (19,037) (3,932) (114,605)

NET CARRYING AMOUNT 2,781 6,383 49,374 207,919 7,863 274,320

*** Software included work in progress with a book value at 31 March 2019 of nil (2018 nil). $4,960,000 of the total software net carrying amount was

internally generated, primarily team member costs for the development of new software systems (2018 $4,882,000).

99
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(b) Impairment Tests for Goodwill and Brand Names

(i) Description of the cash generating units and other relevant information

Goodwill acquired through business combinations have been allocated to seven groups of cash generating units (CGU's) for

impairment testing as follows:

New Zealand Domestic

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2018 11.8%). The long term growth rate used was 2.26% (2018 2.26%).

New Zealand Air & Ocean

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2018 11.8%). The long term growth rate used was 2.26% (2018 2.26%).

Australian Domestic

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2018 11.8%). The long term growth rate used was 2.61% (2018 2.61%).

Australian Air & Ocean

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2018 11.8%). The long term growth rate used was 2.61% (2018 2.61%).

Americas

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 10.6% (2018 10.6%). The long term growth rate used was 2.06% (2018 2.06%).

Asia

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 13.2% (2018 13.2%). The long term growth rate used was 3.30% (2018 3.30%).

Europe

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on f inancial

forecasts approved by senior management covering a four year period. The pre-tax discount rate applied to cash flow projections

is 12.5% (2018 12.5%). The long term growth rate used was 1.73% (2018 1.73%).

(ii) Carrying amount of goodwill and brand names allocated to each group of cash generating units

2019

$000

2018

$000

New Zealand Domestic 12,215 12,215

New Zealand Air & Ocean 8,549 8,549

Australian Domestic 5,307 5,386

Australian Air & Ocean 16,158 16,427

Americas 67,714 63,874

Asia 10,092 10,092

Europe 92,294 99,239

212,329 215,782

(iii) Key assumptions used in value in use calculations for cash generating units (CGU's)

The calculation of value in use for all CGU's is most sensitive to the following assumptions; EBITDA, discount rates and growth

rates used.

EBITDA is based on the average achieved in the last twelve months allowing for expected eff iciency, sales and utilisation gains

Discount rates reflect management's estimate of the time value of money and the risks specif ic to each unit.

For the purposes of impairment testing a terminal growth rate has been used for all segments based on the long-term industry

and country averages.

100
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(iv) Sensitivity to changes in assumptions

With regard to the assessment of the value in use for all CGU's, management believes that no reasonably possible change in any

of the above key assumptions would cause the carrying values of the units to materially exceed its recoverable amount.

Whilst in previous years management has assessed reasonably possible changes in EBITDA that could give rise to an

impairment of European goodwill, with the improvement in operating performance of the European business in the current

year, management believes a reasonably possible change that would cause an impairment no longer exists.

16 EMPLOYEE ENTITLEMENTS

(i) Wages, Salaries, Annual Leave and Sick Leave

Liabilities for wages and salaries, including non-monetary benef its, annual leave and accumulating sick leave expected to be

settled within 12 months of the reporting date are recognised in respect of employees' services up to the reporting date. They

are measured at the amounts expected to be paid when the liabilities are settled. Liabilities for non-accumulating sick leave are

recognised when the leave is taken and are measured at the rates paid or payable.

(ii) Long Service Leave

The liability for long service leave is recognised and measured as the present value of expected future payments to be made

in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration

is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future

payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and

currencies that match, as closely as possible, the estimated future cash outflows.

2019

$000

2018

$000

CURRENT

Long Service Leave 9,030 7,868

Annual Leave 27,310 25,106

Bonus Accrual 26,492 20,399

62,832 53,373

NON-CURRENT

Long Service Leave 797 1,098

Def ined Benef it Pension Scheme 403 310

Other 1,615 2,226

2,815 3,634

17 PROVISIONS

Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable

that an outflow of resources embodying economic benef its will be required to settle the obligation and a reliable estimate can be

made of the amount of the obligation. When the the Group expects some or all of a provision to be reimbursed, for example under an

insurance contract, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. The

expense relating to any provision is presented in the income statement net of any reimbursement.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present

obligation at the balance sheet date. If the effect of the time value of money is material, provisions are discounted using a current

pre-tax rate that reflects the time value of money and the risks specif ic to the liability. The increase in the provision resulting f rom the

passage of time is recognised in f inance costs.

There were no signif icant provisions in the 2019 year (2018 nil).

101
18 TRADE CREDITORS AND ACCRUALS

Trade payables and other payables are carried at amortised cost. They represent liabilities for goods and services provided to the

Group prior to the end of the f inancial year that are unpaid and arise when the Group becomes obliged to make future payments in

respect of the purchase of these goods and services.

The amounts are unsecured and are usually paid within 30 days of recognition. Due to their short term nature they are not discounted.

2019

$000

2018

$000

CURRENT LIABILITIES

Trade Creditors & Accruals 314,925 298,916

19 INTEREST-BEARING LOANS AND BORROWINGS

All loans and borrowings are initially recognised at the fair value of the consideration received less directly attributable transaction

costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective

interest method. Fees paid on the establishment of loan facilities that are yield related are included as part of the carrying amount

of the loans and borrowings. Borrowings are classif ied as current liabilities unless the Group has an unconditional right to defer

settlement of the liability for at least 12 months after the balance sheet date.

Borrowing Costs

Borrowing costs are recognised as an expense when incurred unless funding costs have been incurred which are directly attributable

to the acquisition, construction, or production of a qualifying asset in which case funding costs are included within the cost of the

asset. Capitalisation of borrowing costs cease when substantially all the activities necessary to prepare the qualifying asset for its

intended use or sale are complete. There were no borrowing costs capitalised in 2019 (2018 nil).

The Bank Term Loan falls due for repayment in the following periods:

2019

$000

2018

$000

Non-current 238,653 270,753

A long-term revolving facility of NZ$95,000,000 plus US$10,000,000 with the Westpac Banking Corporation (Westpac) was established

on 6 June 2014 expiring on 4 April 2022.

A long-term revolving facility of NZ$30,000,000 plus US$5,000,000 plus EU€35,000,000 with the Commonwealth Bank of Australia

(CBA) was established on 6 June 2014 expiring on 4 April 2020.

A long-term revolving facility of NZ$60,000,000 plus US$10,000,000 plus EU€30,000,000 with the Hongkong and Shanghai Banking

Corporation (HSBC) was established on 5 June 2014 expiring on 4 April 2022.

A long-term revolving facility of NZ$40,000,000 plus US$15,000,000 plus EU€10,000,000 with the MUFG Bank (MUFG) was established

on 5 June 2014 expiring on 4 April 2022.

A long-term revolving facility of EU€30,000,000 with ING Belgium NV/SA (ING) was established on 15 August 2017 expiring on

4 April 2022.

All facilities operate under a negative pledge and cross company guarantees.

The facilities allow the borrowing Group to offset deposits against borrowings when calculating indebtedness for covenant compliance.

These loan facilities are at a floating interest rate. Banking covenants remain unchanged. Debt approximates fair value due to floating

nature of current drawdowns.

Interest was payable during the year at the average rate of 2.08% per annum (2018 1.96%).

102
20 LEASES

The determination of whether an arrangement is or contains a lease is based on the substance of the arrangement and requires an

assessment of whether the fulf ilment of the arrangement is dependent on the use of a specif ic asset or assets and the arrangement

conveys a right to use the asset.

Group as a Lessee

Finance leases, which transfer to the Group substantially all the risks and benef its incidental to ownership of the leased item, are

capitalised at the inception of the lease at the fair value of the leased asset or, if lower, at the present value of the minimum lease

payments. Lease payments are apportioned between the f inance charges and reduction of the lease liability so as to achieve a

constant rate of interest on the remaining balance of the liability. Finance charges are recognised as an expense in prof it or loss.

Capitalised leased assets are depreciated over the shorter of the estimated useful life of the asset and the lease term if there is no

reasonable certainty that the Group will obtain ownership by the end of the lease term.

Operating lease payments are recognised as an expense in the income statement on a straight-line basis over the lease term. Operating

lease incentives are recognised as a liability when received and subsequently reduced by allocating lease payments between rental

expense and reduction of the liability.

At balance date the Group had the following lease commitments:

2019

$000

2018

$000

FINANCE LEASE LIABILITIES

Payable:

– Not Later than One Year 2,432 2,267

– Later than One Year but not Later than Two Years 2,443 1,627

– Later than Two Years but not Later than Five Years 2,363 2,954

– After Five Years 97 88

Minimum Lease Payments 7,335 6,936

Less Future Finance Charges (331) (352)

7,004 6,584

CLASSIFIED IN THE STATEMENT OF FINANCIAL POSITION AS:

Current 2,246 2,077

Non-current 4,758 4,507

7,004 6,584

OPERATING LEASE COMMITMENTS (NON-CANCELLABLE)

– Not Later than One Year 105,233 83,842

– Later than One Year but not Later than Two Years 94,656 71,847

– Later than Two Years but not Later than Five Years 157,388 109,412

– After Five Years 293,664 192,273

650,941 457,374

The operating lease commitment disclosures above relating to 2019 have increased since 2018 partly as a result of a more

comprehensive analysis relating to options to extend property leases beyond the initial lease term.

103
21 CONTRIBUTED EQUITY

Ordinary shares are classif ied as equity. Incremental costs directly attributable to the issue of new shares or options are shown in

equity as a deduction, net of tax, f rom the proceeds.

2019

$000

2018

$000

Authorised, Issued and Fully Paid Up Capital

100,698,548 ordinary shares (2018 100,698,548) 85,821 85,821

Ordinary shares do not have a par value.

All ordinary shares have equal voting rights and share equally in dividends and any surplus on winding up to the extent that they are

paid up.

Movements in Ordinary Shares on Issue

2019

Shares

2018

Shares

2019

$000

2018

$000

Opening Balance 100,698,548 100,698,548 85,821 85,821

Employee Share Based Payments Scheme(i) - - - -

Exercise of Partly Paid Share Scheme(ii) - - - -

CLOSING BALANCE 100,698,548 100,698,548 85,821 85,821

(i) and (ii) Refer note 25.

At 31 March 2019 there were no partly paid shares outstanding (2018 nil).

Capital Management

When managing capital, the Board of Directors' (the "Board") objective is to ensure the entity continues as a going concern as well as

to maintain optimal returns to shareholders and benef its for other stakeholders. The Board also aims to maintain a capital structure

that ensures the lowest cost of capital available to the entity. The capital structure of the Group consists of Shareholders' Equity and

debt.

The Board is periodically reviewing and adjusting the capital structure to take advantage of favourable costs of capital. As the market

is constantly changing, the Board may change the amount of dividends to be paid to shareholders, return capital to shareholders,

issue new shares or sell assets to reduce debt.

The Board has no current plans to issue further shares on the market.

The Board monitors capital through the Group gearing ratio (net debt / net debt and equity).

2019

$000

2018

$000

Total Borrowings 245,661 277,373

Less Cash and Cash Equivalents (115,184) (80,521)

Net Debt130,477 196,852

Total Equity838,315 709,558

NET DEBT AND EQUITY968,792 906,410

Gearing Ratio13.5%21.7%

104
22 RECONCILIATION OF CASH FLOWS WITH REPORTED NET SURPLUS

2019

$000

2018

$000

Net Surplus After Taxation 137,624 107,678

Non-cash Items:

Depreciation and Amortisation 53,107 47,788

(Increase) / Decrease in Deferred Tax Asset 2,648 274

Increase / (Decrease) in Deferred Tax Liability (2,053) (1,583)

191,326 154,157

Add / (Less) Movements in Other Working Capital

Items, Net of Effect of Acquisitions:

(Increase) / Decrease in Accounts Receivable (27,640) (46,849)

(Increase) / Decrease in Other Receivables 5,501 (13,005)

Increase / (Decrease) in Accounts Payable 28,507 46,006

Increase / (Decrease) in Interest Payable (4) (462)

(Increase) / Decrease in Interest Receivable 8 4

Increase / (Decrease) in Taxation Payable 2,510 (326)

Increase / (Decrease) in Net GST (300) 27

Adjustment for Movement in Exchange Rate (2,257) 2,023

Less Items Classif ied as Investing Activity:

Net (Surplus) / Def icit on Sale of Fixed Assets (228) (1,339)

NET CASH INFLOW FROM OPERATING ACTIVITIES 197,423 140,236

23 RELATED PARTIES

In addition to transactions disclosed elsewhere (see note 24) in these f inancial statements, the Group transacted with the following

related parties during the period:

Name of Related PartyNature of RelationshipType of Transactions

2019

Value of

Transactions

$000

2018

Value of

Transactions

$000

C. Howard-SmithShareholder & Former DirectorLegal Fees 514 503

24 KEY MANAGEMENT PERSONNEL

2019

$000

2018

$000

COMPENSATION OF KEY MANAGEMENT PERSONNEL

Short-term Employee Benef its 9,142 8,874

Director Retirement Benef its 85 -

9,227 8,874

There were no partly paid shares held by key management personnel at balance date.

105
25 SHARE-BASED PAYMENT TRANSACTIONS

Recognised Share-based Payment Expenses

There were no share-based payment expenses during the year (2018 nil).

26 BUSINESS COMBINATIONS

The acquisition method of accounting is used to account for all business combinations regardless of whether equity instruments or

other assets are acquired. Cost is measured as the fair value of the assets given, shares issued or liabilities incurred or assumed at the

date of exchange. Where equity instruments are issued in a business combination, the fair value of the instruments is their published

market price as at the date of exchange unless, in rare circumstances, it can be demonstrated that the published price at the date of

exchange is an unreliable indicator of fair value and that other evidence and valuation methods provide a more reliable measure of fair

value. Transaction costs arising on the issue of equity instruments are recognised directly in equity.

Except for non-current assets or disposal groups classif ied as held for sale (which are measured at fair value less costs to sell), all

identif iable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their

fair values at the acquisition date, irrespective of the extent of any minority interest. The excess of the cost of the business combination

over the net fair value of the Group’s share of the identif iable net assets acquired is recognised as goodwill. If the cost of acquisition is

less than the Group’s share of the net fair value of the identif iable net assets of the subsidiary, the difference is recognised as a gain in

the income statement, but only after a reassessment of the identif ication and measurement of the net assets acquired.

Where settlement of any part of the consideration is deferred, the amounts payable in the future are discounted to their present

value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar

borrowing could be obtained f rom an independent f inancier under comparable terms and conditions.

There were no new material acquisitions during the f inancial year ended 31 March 2019 (2018 nil).

27 ABNORMAL ITEMS

Abnormal items are determined in accordance with the principles of consistency, relevance and clarity. Transactions considered for

classif ication as abnormal items include acquisition and disposal costs; impairment or reversal of impairment of assets; business

integration; and transactions or events outside of the Group’s ongoing operations that have a signif icant impact on reported prof it.

During the year the Group had $4,965,000 of abnormal expenses (2018 $7,224,000). The related after tax expense was $3,460,000 (2018

$5,048,000).

In the year the Group had no abnormal gains (2018 nil). The related after tax gain was nil (2018 $722,000).

These items comprised of:

20192018

Pre-Tax

$000

Tax

$000

After Tax

$000

Pre-Tax

$000

Tax

$000

After Tax

$000

Brand Name Impairment *** (3,912) 978 (2,934) (3,763) 941 (2,822)

Redundancies (1,053) 527 (526) (3,461) 1,235 (2,226)

Tax Rate Changes - - - - 722 722

(4,965) 1,505 (3,460) (7,224) 2,898 (4,326)

*** With the process of rebranding our European operations to Mainf reight underway it was decided to impair the purchased brand of Wim Bosman

by one third in the 2019 f inancial year (2018 one third). This impairment entry has no cash impact.

106
28 CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

The Group had the following capital commitments at 31 March 2019 totalling $123,263,925 (2018 $33,588,943).

- Mount Manganui Freight Facility39,034,391

- Whangarei Freight Facility Extension1,737,076

- New Zealand Equipment621,143

- Adelaide Land7,851,342

- Melbourne Dandenong Land29,822,538

- Melbourne Epping Land7,712,681

- Melbourne Epping Facility29,888,552

- Australian Equipment3,292,072

- Japan Rental Fitout103,906

- Europe Building Improvements970,038

- Europe Equipment2,230,186

There are additional bank performance guarantees and bonds totalling $17,720,000 (2018 $25,169,000) undertaken by the Group.

2019

$000

2018

$000

GUARANTEES COMPRISE:

Rental Guarantee 721 671

Custom Guarantees 11,485 12,592

12,206 13,263

PERFORMANCE BONDS COMPRISE:

NZX (New Zealand Stock Exchange) 75 75

European IATA Bond 259 627

European Banking Guarantees 993 8,624

European Other Guarantees 3,336 1,701

European Government Licensing Guarantees 851 879

5,514 11,906

The Group is party to sub-lease / tenancy agreements where third parties lease excess off ice / industrial space f rom the Group. In the

event of default by third parties the Group would be exposed to these liabilities.

As a result of the IRD's programme of routine and regular tax audits, the Group anticipates that IRD audits may occur in the future. The

Group is similarly subject to routine tax audits in certain overseas jurisdictions. The ultimate outcome of any future tax audits cannot

be determined with an acceptable degree of reliability at this time. Nevertheless, the Group believes that it is making adequate

provision for its taxation liabilities. However, there may be an impact to the Group if any revenue authority investigations result in an

adjustment that increases the Group's taxation liabilities.

The Group can also be subject to legal claims as a result of conducting business. The ultimate outcome of any future legal claims

cannot be determined with an acceptable degree of reliability at this time. Nevertheless, the Group believes that it is making adequate

provision for its legal liabilities. However there may be an impact to the Group if any legal cases result in an adjustment that increases

the Group's legal liabilities.

29 SUBSEQUENT EVENTS

A dividend of 34.0 cents per share was declared on 27 May 2019 totalling $34,237,506. Payment date is to be 19 July 2019.

107
Chartered Accountants

Independent Auditor’s Report to the Shareholders of Mainfreight Limited

Report on the Audit of the Financial Statements

Opinion

We have audited the f inancial statements of Mainf reight Limited (“the company”) and its subsidiaries (together “the group”) on

pages 77 to 106, which comprise the consolidated balance sheet of the group as at 31 March 2019, and the consolidated income

statement, consolidated statement of comprehensive income, consolidated statement of changes in equity and the consolidated

cash flow statement for the year then ended of the group, and the notes to the consolidated f inancial statements including a

summary of signif icant accounting policies.

In our opinion, the consolidated f inancial statements on pages 77 to 106 present fairly, in all material respects, the consolidated

f inancial position of the group as at 31 March 2019 and its consolidated f inancial performance and cash flows for the year then ended

in accordance with New Zealand equivalents to International Financial Reporting Standards and International Financial Reporting

Standards.

This report is made solely to the company's shareholders, as a body. Our audit has been undertaken so that we might state to the

company's shareholders those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

shareholders as a body, for our audit work, for this report, or for the opinions we have formed.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (New Zealand). Our responsibilities under those

standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.

We are independent of the group in accordance with Professional and Ethical Standard 1 (revised) Code of Ethics for Assurance

Practitioners issued by the New Zealand Auditing and Assurance Standards Board, and we have fulf illed our other ethical

responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is suff icient and appropriate to provide a basis for our opinion.

Ernst & Young has provided taxation compliance and advice to the group. We have no other relationship with, or interest in, the

group. Partners and employees of our f irm may deal with the group on normal terms within the ordinary course of trading activities

of the business of the group.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most signif icance in our audit of the consolidated

f inancial statements of the current year. These matters were addressed in the context of our audit of the consolidated f inancial

statements as a whole, and in forming our opinion thereon, but we do not provide a separate opinion on these matters. For each

matter below, our description of how our audit addressed the matter is provided in that context.

We have fulf illed the responsibilities described in the Auditor’s responsibilities for the audit of the f inancial statements section of the

audit report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to

respond to our assessment of the risks of material misstatement of the f inancial statements. The results of our audit procedures,

including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying

consolidated f inancial statements.

A member firm of Ernst & Young Global Limited

108
Chartered Accountants

1. Scoping of the audit

Why significantHow our audit addressed the key audit matter

Mainf reight is a global business with approximately 75% of

the group’s revenue being generated in countries other than

New Zealand.

A signif icant area of focus when conducting the audit was

assessing that suff icient audit evidence was obtained in

differing geographic locations and businesses to enable us to

reach our opinion on the consolidated f inancial statements

as a whole. This was both with respect to the determination

and allocation of materiality as well as the determination of

the nature and extent of procedures to be performed in each

location.

As group auditor, EY New Zealand assigned a scope to each

component team, in all signif icant locations. Consideration was

given to the nature, size and risks associated with each of the

Group’s signif icant businesses. As a result of this assessment

each business was allocated a scope and materiality reflecting

the business prof ile.

The Group audit team communicated to the other audit teams

about the signif icant risk areas to be considered and the

information to be reported back to the Group audit team. The

component team then determined the extent and nature of

audit procedures to be performed with input f rom the Group

audit team, including the audit to be performed in accordance

with International Standard’s on Auditing (ISA). A number of

remaining businesses were subjected to analytical procedures

by the Group audit team.

All component teams were required to provide written

conf irmation to the Group audit team explaining the work

performed, the results of that work as well as key documents

supporting any signif icant f indings or observations.

Members of the Group audit team visited businesses and audit

teams in all signif icant non New Zealand locations (Australia, USA,

Europe and Asia). During these visits, the work performed by

each team was assessed, and meetings held with management

where the key judgements were discussed, as were the f indings

relevant to the Group audit.

We reported to the Audit Committee;

i) The results of audit procedures and testing performed by

both the Group and component teams; and

ii) Any misstatements identif ied that warrant reporting based

on quantitative or qualitative grounds.

A member firm of Ernst & Young Global Limited

109
2. Impairment testing of goodwill allocated to the European business

Why significantHow our audit addressed the key audit matter

As at 31 March 2019, goodwill of $88.5 million related to

the group’s European business. As required by NZ IAS 36

Impairment of Assets (NZ IAS 36) the group performed an

annual impairment test on the goodwill relating to Mainf reight

Europe.

A value in use model was used for this assessment which

requires the use of assumptions in estimating and discounting

future cash flows.

As disclosed in Note 15, whilst the group’s assessment indicates

that the carrying value of goodwill related to the European

business does not exceed its recoverable amount, there are

possible changes in key assumptions that could result in an

impairment.

In obtaining suff icient audit evidence:

• We involved our New Zealand valuation specialists to assess

whether the methodology applied in the value in use model

for the European business met the requirements of NZ IAS 36.

• The assessment included involvement of our valuation

specialists in Europe who are familiar with business valuation

factors used in that market, to assess the appropriateness of

discount rates.

• We assessed the appropriateness of the cash flow forecasts

taking into account historical cash flows, our knowledge of the

business and relevant external information.

• We performed sensitivity analysis around key drivers of the

impairment model, including the sensitivity of the results to

changes in future projected cash flows.

• We assessed whether the assumptions which have the most

signif icant effect on the determination of the recoverable

amount of goodwill have been appropriately disclosed in the

consolidated f inancial statements.

3. Revenue recognition of International Freight

Why significantHow our audit addressed the key audit matter

As disclosed in Note 5, the Group recognised revenue totalling

$2,954 million for the period.

The group adopted NZ IFRS 15 Revenue f rom Contracts with

Customers (“NZ IFRS 15”), f rom 1 April 2018. Under NZ IFRS 15 an

entity must recognise revenue with respect to the performance

obligations it has identif ied within its contracts with customers.

Mainf reight has determined it meets performance obligations

in its customer contracts over time in respect of f reight

revenues. There is judgement involved in assessing the stage of

completion and therefore the amount of revenue recognised.

This is specif ically relevant to the international f reight

forwarding businesses for which delivery times are longer

than for domestic businesses and the transactions within are

therefore more likely to span year end.

Revenue recognition f rom international f reight forwarding is a

key audit matter as, collectively, material revenue transactions

can occur close to year end and there is a risk that revenue is

recognised in the incorrect period.

In obtaining suff icient audit evidence:

• We evaluated the group policies and practices regarding the

timing and nature of services provided.

• We tested recognition of a sample of revenue transactions

recorded at year end in accordance with NZ IFRS 15 to

assess whether they were recorded in the correct period.

This included considering shipping documentation or other

documentation indicating the timing of shipment.

• At certain locations we completed analytical procedures

considering patterns of reported revenues and margins

before and after year end.

• We analysed credit notes issued after year end to assess

whether these could signif icantly impact revenue recognised

within the 2019 f inancial year.

• We also considered the adequacy of the disclosures in the

consolidated f inancial statements.

Chartered Accountants

A member firm of Ernst & Young Global Limited

110
Information Other than the Financial Statements and Auditor’s Report

The directors of the company are responsible for the Annual Report, which includes information other than the consolidated

f inancial statements and auditor’s report.

Our opinion on the consolidated f inancial statements does not cover the other information and we do not express any form of

assurance conclusion thereon.

In connection with our audit of the consolidated f inancial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the consolidated f inancial statements or our knowledge

obtained during the audit, or otherwise appears to be materially misstated.

If, based upon the work we have performed, we conclude that there is a material misstatement of this other information, we are

required to report that fact. We have nothing to report in this regard.

Directors’ Responsibilities for the Financial Statements

The directors are responsible, on behalf of the entity, for the preparation and fair presentation of the consolidated f inancial statements

in accordance with New Zealand equivalents to International Financial Reporting Standards and International Financial Reporting

Standards, and for such internal control as the directors determine is necessary to enable the preparation of f inancial statements that

are f ree f rom material misstatement, whether due to f raud or error.

In preparing the consolidated f inancial statements, the directors are responsible for assessing on behalf of the entity the group’s

ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis

of accounting unless the directors either intend to liquidate the group or cease operations, or have no realistic alternative but to do

so.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated f inancial statements as a whole are f ree f rom

material misstatement, whether due to f raud or error, and to issue an auditor’s report that includes our opinion. Reasonable

assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards on

Auditing (New Zealand) will always detect a material misstatement when it exists. Misstatements can arise f rom f raud or error and

are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions

of users taken on the basis of these consolidated f inancial statements.

A further description of the auditor’s responsibilities for the audit of the f inancial statements is located at External Reporting Board’s

website https://xrb.govt.nz/Site/Auditing_Assurance_Standards/Current_Standards/Page1.aspx. This description forms part of our

auditor’s report.

The engagement partner on the audit resulting in this independent auditor’s report is Lloyd Bunyan.

Chartered Accountants

Auckland

26 June 2019

Chartered Accountants

A member firm of Ernst & Young Global Limited

111
Statutory Information

DIRECTORS

The following people held off ice or ceased to hold off ice as Director during the year and received the following remuneration including

benef its during the year:

Name

Remuneration

2019

Remuneration

2018

Current Director or Date

Appointed or Resigned

Bruce Plested1 - - Current

Don Braid2 $2,761,095$2,636,867Current

Simon Cotter$113,000$113,000Current

Carl Howard-Smith3 $113,000$113,000Retired 26 July 2018

Bryan Mogridge$113,000$113,000Current

Kate Parsons$113,000$113,000Current

Richard Prebble$113,000$113,000Current

Sue Tindal$113,000$113,000Current

1. Elected not to receive director fees in 2018 and 2019 years.

2. The remuneration comprised:

20192018

Base Salary2,100,000 2,000,000

Discretionary Performance Bonus ***583,095 558,867

Vehicle and Other Non-cash78,000 78,000

$2,761,095$2,636,867

***The discretionary performance bonus relates to the previous f inancial year based on that year's revenue and prof it growth as well as other quality

KPI's. A maximum of 33.3% of base salary is payable. There were no share based payments.

3. Includes $85,000 retiring benef it. Excludes legal fees (refer to note 23 to the Financial Statements).

EMPLOYEES’ REMUNERATION

The Mainf reight Group paid remuneration including benef its during the year in excess of $100,000 in the following bands (excluding

directors):

Remuneration

New Zealand

Based

Number of

Employees

Overseas

Based

Number of

Employees

$100,000 - $110,00026 157

$110,000 - $120,00035 119

$120,000 - $130,00029 89

$130,000 - $140,00013 57

$140,000 - $150,00011 59

$150,000 - $160,0009 27

$160,000 - $170,0006 23

$170,000 - $180,0009 23

$180,000 - $190,0006 16

$190,000 - $200,0005 15

$200,000 - $210,0005 13

$210,000 - $220,0001 12

$220,000 - $230,0003 10

$230,000 - $240,0001 7

$240,000 - $250,0002 10

$250,000 - $260,0005

$260,000 - $270,0002 5

$270,000 - $280,0002 3

$280,000 - $290,0005

$290,000 - $300,0002 1

$300,000 - $310,0001

$310,000 - $320,0003

$320,000 - $330,0002

$330,000 - $340,0003

$340,000 - $350,0002 2

Remuneration

New Zealand

Based

Number of

Employees

Overseas

Based

Number of

Employees

$350,000 - $360,0001

$360,000 - $370,0001

$370,000 - $380,0002 3

$380,000 - $390,0002

$390,000 - $400,0001

$400,000 - $410,0002

$410,000 - $420,0001

$420,000 - $430,0003

$430,000 - $440,0001

$440,000 - $450,0001

$450,000 - $460,0003

$460,000 - $470,0001

$520,000 - $530,0001

$550,000 - $560,0002

$570,000 - $580,0001

$580,000 - $590,0002

$640,000 - $650,0001 2

$650,000 - $660,0001

$670,000 - $680,0001

$840,000 - $850,0001

$940,000 - $950,0001

TOTAL NUMBER OF EMPLOYEES178 693

LAST YEAR COMPARISONS169 639

Overseas based remuneration is converted to New Zealand dollars.

112
DONATIONS AND AUDITORS’ FEES

Donations and auditors’ fees are set out in note 6 of the Financial Statements.

DIRECTORS’ SHAREHOLDINGS AT BALANCE DATE

20192018

BG Plested

- shares held with benef icial interest 16,033,062 16,020,562

- held by associated persons 1,313,410 1,303,650

DR Braid

- shares held with benef icial interest 2,842,890 2,807,890

- held by associated persons 49,997 49,253

SR Cotter

- shares held with benef icial interest 75,000 75,000

- held by associated persons 7,570 7,570

CG Howard-Smith (retired as director 26 July 2018)

- held as trustee of staff share purchase scheme - 7,850

- shares held with benef icial interest - 100,000

BW Mogridge

- shares held with benef icial interest 200,000 200,000

CL Parsons

- shares held with benef icial interest 713 -

RW Prebble

- shares held with benef icial interest 88,274 88,274

SM Tindal

- shares held with benef icial interest - -

TOTAL DIRECTORS 20,610,916 20,660,049

Directors' shareholdings at balance date were 20.47% of total shares issued.

SUBSTANTIAL PRODUCT HOLDERS

The following information is given pursuant to Section 293 of the Financial Markets Conduct Act 2013.

The following are recorded by the Company as at 31 March 2019 as Substantial Product Holders in the Company, and have declared

the following relevant interest in quoted f inancial products under the Financial Markets Product Act 2013:

B Plested, C Howard-Smith & D Braid as trustees of Rorohara No.2 Trust 16,217,562

Harbour Asset Management Limited 5,056,395

The total number of quoted f inancial products issued by the Company as at 31 March 2019 was 100,698,548.

113
LARGEST PRODUCT HOLDERS AS AT 2 MAY 2019

Total Number

Held%

B Plested, C Howard-Smith & D Braid as trustees of Rorohara No.2 Trust16,017,766 15.91%

Citibank Nominees (New Zealand) Ltd5,969,427 5.93%

TEA Custodians Ltd5,523,841 5.49%

HSBC Nominees (New Zealand) Ltd - NZCSD4,920,496 4.89%

HSBC Nominees (New Zealand) Ltd A/c State Street3,790,332 3.76%

Custodial Services Ltd A/c 33,454,286 3.43%

JP Morgan Chase Bank3,378,477 3.36%

Australian Foundation Investment Company Ltd2,990,000 2.97%

FNZ Custodians Ltd2,918,274 2.90%

DR & MD Braid2,842,890 2.82%

Accident Compensation Corporation2,569,209 2.55%

Forsyth Barr Custodians Ltd2,391,659 2.38%

JB Were (NZ) Nominees Ltd2,348,344 2.33%

Custodial Services Ltd A/c 42,050,081 2.04%

National Nominees NZ Ltd1,969,476 1.96%

BNP Paribas Nominees (NZ) Ltd - COGN 401,800,814 1.79%

BNP Paribas Nominees (NZ) Ltd1,564,445 1.55%

ANZ Wholesale Australasian Share Fund1,251,037 1.24%

HSBC Nominees A/C NZ Superannuation Fund Nominees Ltd - NZCSD1,189,041 1.18%

Custodial Services Ltd A/c 21,164,379 1.16%

SPREAD OF PRODUCT HOLDERS AS AT 2 MAY 2019

Size of Shareholding

Number

of Holders%

Total Number

Held%

1 - 999 3,872 48.93% 1,600,820 1.59%

1,000 - 4,999 3,194 40.36% 6,449,601 6.40%

5,000 - 9,999 459 5.80% 2,964,805 2.94%

10,000 - 49,999 294 3.72% 5,130,520 5.09%

50,000 - 99,999 34 0.42% 2,282,139 2.27%

100,000 - 999,999 40 0.51% 12,166,389 12.07%

1,000,000 - PLUS 20 0.25% 70,104,274 69.62%

TOTAL 7,913 100.00% 100,698,548 100.00%

114
Interests Register

THE FOLLOWING ENTRIES WERE MADE IN THE INTERESTS REGISTER DURING THE YEAR.

Name of Director or other

Person having InterestDetails of Interest

Date Interest

Disclosed

Bruce Plested

Transferred 7,500 shares off market to associated persons for no

consideration12 December 2018

Bruce PlestedSold 100,000 shares on market for $31.02 per share on 19 November 201820 November 2018

Don Braid

Purchased 35,000 shares off market for $30.93 per share f rom a Mainf reight

team member (off icer) on 19 November 201819 November 2018

Kate ParsonsPurchased 713 shares on market for $27.68 per share on 29 June 20184 July 2018

Bruce Plested

Purchased 120,000 shares off market for $27.84 per share f rom a Mainf reight

team member (off icer) on 27 June 20184 July 2018

115
Five Year Review

THE TABLE BELOW PROVIDES A SUMMARY OF KEY PERFORMANCE AND FINANCIAL STATISTICS.

Notes

2019

$000

2018

$000

2017

$000

2016

$000

2015

$000

Net Sales 2,953,414 2,616,189 2,333,088 2,284,226 2,053,716

EBITDA1 257,049 215,114 197,542 174,847 162,195

EBITA2 203,942 167,326 154,050 135,527 128,033

Abnormal Items After Taxation3 3,460 4,326 1,641 572 1,075

Net Interest Cost 6,868 7,056 7,225 8,372 6,638

NET PROFIT BEFORE ABNORMAL

ITEMS FOR THE YEAR 141,084 112,004 103,164 88,176 83,480

Net Prof it After Abnormal Items for the Year

(NPAT)4 137,624 107,678 101,523 87,604 82,405

PRO-FORMA CASH FLOW5 194,191 159,792 146,711 127,852 117,998

Net Tangible Assets6 619,405 484,612 423,521 348,217 293,062

Net Debt7 130,477 196,852 212,938 265,205 244,657

Total Assets 1,502,889 1,376,703 1,284,765 1,278,577 1,124,455

Total Liabilities 664,574 667,145 639,163 697,504 615,837

EBIT Margin (Before Abnormals) (%)6.96.46.65.96.2

Equity Ratio (%)841.235.233.027.226.1

Assets to Liabilities Ratio (%)226.6206.4201.0183.3182.6

Return on NTA (%)922.222.224.025.228.1

Net Interest Cover (x)1029.6923.7121.3216.1919.29

Dividends covered by Net Prof it after

abnormals (x)2.532.382.462.382.43

Dividends covered by Net Prof it before

abnormals (x)2.592.472.502.392.47

Earnings Per Share (cps)11136.67106.93101.1087.9882.87

ADJUSTED EARNINGS PER SHARE (CPS)

11, 12

140.11111.23102.7488.5583.95

Pro-forma Cash Flow Per Share (cps)11192.84158.68146.10128.40118.67

NTA Per Share (cps)11615.11481.25421.76349.71294.72

Notes:

1. EBITDA is def ined as earnings before net interest expense, tax, depreciation, amortisation, abnormal Items, royalties, share based

payment expense, minority interests and associates.

2. EBITA is def ined as earnings before net interest expense, tax, abnormal Items, royalties, share based payment expense,

minority interests and associates.

3. Abnormal items for the years ended 31 March 2019 and 31 March 2018: please refer note 27.

4. Net Prof it (NPAT) is net prof it after tax, abnormal Items and minorities but before dividends.

5. Pro-forma Cash Flow is def ined as NPAT before amortisation of goodwill, depreciation, minorities and associates excluding

share based payments and abnormal Items after tax.

6. Net Tangible Assets includes Software and Deferred Tax Assets and Liabilities.

7. Net Debt is long-term plus short-term debt less cash balances.

8. Equity Ratio is Net Tangible Assets as a percentage of Total Assets.

9. Return on NTA is NPAT as a percentage of Net Tangible Assets.

10. Net Interest Cover is Prof it before abnormal Items, interest and tax divided by net interest cost.

11. Per Share calculations are based on the average issued capital in each year - 100,698,548 shares in 2019.

12. Adjusted Earnings per Share f igures are based on Net Prof it with tax affected abnormal Items added back.

116
Air & Ocean

Distinguishes Mainfreight’s traditional international freight from that moved by land across

borders in Europe and the Americas

B2B

Business-to-business transactions

B2C

Business-to-consumer transactions

C&F

Cost and Freight; a term utilised by importers and exporters determining the buying and

selling criteria (also known as CFR, CNF)

EBITDA

Earnings before net interest expense, tax, depreciation, amortisation, abnormal items,

royalties, share based payment expense, minority interest and associates

FCL

Full Container Load

FEU

Forty Foot Equivalent Unit (Container)

FMCG

Fast Moving Consumer Goods; everyday products that sell quickly

FOB

Free On Board; a term utilised by importers and exporters determining the buying and

selling criteria

FTL

Full Truck Load

Gearing Ratio

Net debt to net debt and equity

IATA

International Air Transport Association

Inter city

The freight transport between cities

Intra city/Metro

The freight transport within a city known as metropolitan cartage or “metro”

IRA

Inventory Record Accuracy; Mainfreight’s level of IRA measures location count, inventory

condition, systems alignment to inventory count, product integrity, total inventory count

LCL

Less than Container Load

Linehaul

The method and mode used to transport goods between cities and countries

LT L

Less than Truck Load

NPAT

Net Profit After Tax, abnormal items and minorities, but before dividends

NVOCC

Non Vessel Operating Common Carrier

NZX

NZX Limited (Mainfreight is listed on the NZX Main Board)

Retail Freight

The industry segment that Mainfreight operates in

Supply Chain

Logistics

The physical movement and management of supplies and finished product from source to

end user

TEU

Twenty Foot Equivalent Unit (sea freight container)

Wharf Cartage

The transport of full containers on and off the wharf

Wholesale

SEA Freight

The industry segment that CaroTrans operates in supplying services to other freight

forwarders

GLOSSARY of Terms

Directory
117

Board of Directors

Bruce Plested, Chairman

Don Braid, Group Managing Director

The Hon. Richard Prebble, BA, LLB (Hons),

CBE

Bryan Mogridge, BSc, ONZM, FNZID

Simon Cotter, BCom, MAppFin, F Fin

Kate Parsons, BCom, CA

Sue Tindal, FCPA (Aust)

Registered &

Administration Off ice

Mainfreight New Zealand

2 Railway Lane*, Otahuhu

Auckland 1062

PO Box 14038, Panmure

Auckland 1741

Tel +64 9 259 5500

www.mainf reight.com

* “Mainf reight Lane”

if the Council were kind enough

Overseas Off ices

Mainfreight Australia

107 Gateway Boulevard

Epping, Victoria 3076

Australia

Tel +61 3 9267 7300

Mainfreight Americas

1400 Glenn Curtiss Street

Carson, CA 90746

United States of America

Tel +1 310 900 1974

Mainfreight Asia

Units 7-10, 8/F, Tower 1, Millennium City 1

No 388 Kwun Tong Road

Kwun Tong, Kowloon

Hong Kong

Tel +852 3468 5930

Mainfreight Europe

Industriestraat 10/12

‘s-Heerenberg, NL- 7040 Amsterdam

Netherlands

Tel +31 314 678 403

Auditors

EY

EY Building

2 Takutai Square, Britomart

PO Box 2146

Auckland 1140

Lawyers

Howard-Smith & Co

Level 7, 36 Kitchener Street

PO Box 7066

Auckland 1141

Bell Gully

Barristers & Solicitors

Vero Centre

48 Shortland Street

PO Box 4199

Auckland 1140

Bankers

Westpac Banking Corporation

16 Takutai Square

Britomart

PO Box 934

Auckland 1140

Commonwealth Bank

ASB North Wharf, 12 Jellicoe Street 

PO Box 35

Auckland 1140

HSBC Bank

One Queen Street

PO Box 5947

Auckland 1141

Bank of Tokyo-Mitsubishi UFJ

Lv 22, 151 Queen Street

PO Box 105160

Auckland 1143

ING Belgium

Avenue Marnix 24

B-1000 Brussels

Belgium

Investment Advisors

Grant Samuel and Associates Ltd

Vero Centre

48 Shortland Street

PO Box 4306

Auckland 1140

Share Registrar

Computershare Investor Services Limited

Private Bag 92119

Auckland 1142

Level 2, 159 Hurstmere Road

Takapuna, Auckland 0622

New Zealand

Managing your

Shareholding Online:

To change your address, update your

payment instructions, elect communication

preferences, and to view your investment

portfolio including transactions, please visit:

www.investorcentre.com/nz and log in.

You will need your CSN or Holder Number

and FIN to initially register on Investor

Centre, or your User ID and password if

previously registered.

General enquiries can be directed to;

>enquiry@computershare.co.nz

>Private Bag 92119, Auckland 1142

>Telephone +64 9 488 8777

>Facsimile +64 9 488 8787

Annual Report by

Ripe Creative

www.ripecreative.co.nz

Photography by

Alistair Guthrie, Snapper Limited

www.alistairguthrie.com

Additional Information

Please visit our website to learn more

about us, and for investor information:

www.mainf reight.com


For career opportunities visit:

www.mainf reightcareers.com


Please visit our website if you wish to obtain

an electronic version of this annual report.

The Mainf reight annual report is printed on environmentally responsible papers, manufactured using Elemental Chlorine Free pulp f rom Well Managed

Forests. It is produced under the environmental management system ISO 14001, which aims to prevent pollution and achieve continual improvement.

Printed with vegetable based, mineral oil f ree inks.

Follow us here:

 Facebook:

https://www.facebook.com/Mainf reight


 Twitter:

https://twitter.com/Mainf reightLtd

Back cover:

GIOVANNY LOPEZ

– Los Angeles, USA

www.mainf reight.com
That’s it... see you next year!

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.

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