Annual Shareholders Meeting – Presentation and Address

NAPIER PORT HOLDINGS ANNUAL SHAREHOLDER MEETING
10.30am, Friday 20
th
December 2019
Napier Port Chairman, Alasdair MacLeod
On behalf of the Board I’d like to welcome shareholders to Napier Port’s first Annual
Shareholders Meeting as a listed company.
I am Napier Port’s chairman, Alasdair MacLeod, and I’ll be running today’s meeting.
I’d like to give an overview of the 2018/2019 financial year.
It has been a huge year for Napier Port – we’ve seen significant change and significant
progress.
We received resource consents to build 6 Wharf, an asset that will future-proof our port for
the economic prosperity of our region.
In order to fund our future growth, we became a listed company, welcoming more than
9000 new shareholders, including many local residents and 97% of all Napier Port
employees.
Napier Port is a key regional long-term infrastructure asset with the purpose of connecting
our region to the world.
Napier Port provides direct routes to global markets for the region’s high-value export cargo
and efficient access for import products to feed the regional, and national, economy.
The financial results we are presenting today show we have made a good start as a publicly-
listed company.
While headline net profit has substantially decreased compared to 2018, the result is in-line
with forecasts and is the result of costs related to capital restructuring and listing on the
NZX.
The listing and a successful year mean we now have the capital in place to embark on our
centrepiece development project, 6 Wharf, which has been in the making for several years.
We are looking forward to breaking ground on this project in the New Year and having
construction well underway within the first quarter of 2020.

6 Wharf will position us to deal with the cargo growth we are already experiencing –
relieving congestion and allowing the region to thrive.
2020 is set to be another milestone year for Napier Port:
·We look forward to further delivering our business plan – commencing on a number of
projects that support our strategy: to strengthen our networked infrastructure; connect
with our customers; harness technology and data; and, collaborate with our partners;
·We’ll also be developing our sustainability strategy in line with the UN Sustainable
Development Goals to guide our response to global issues, our diversity and enhance
environmental outcomes.
·We look forward to sharing our progress with you at the interim report in May.
We are pleased with progress and have no reason to change forecasts that we made at the
time of the Product Disclosure Statement publication prior to listing.
I’d like to introduce Napier Port chief executive, Todd Dawson to present his report on the
2018/2019 financial year.
Napier Port Chief Executive, Todd Dawson
Good Morning Everyone,
Hawke’s Bay as a region is experiencing very strong growth - the world wants what our
region has to offer.
Our purpose, our reason for being, at Napier Port is to do everything we can to support a
thriving regional economy – and that means helping our exporters get their product to
global markets and our importers what they need to feed our economy.
The 2018/2019 financial year has been a positive one for Napier Port – setting the
foundations for our future and supporting our ability to serve this region for many
generations to come.
For nearly 150 years, NP has served the region, building the agile and resilient infrastructure
we have today. It continues to serve the growing needs of the region, with solid plans in
place to support the economy of Hawke’s Bay and New Zealand. Our main port site at
Breakwater Road site consists of:
•50 hectare of storage and operational area
•6 mobile harbour cranes
•More than 1000 connection points for refrigerated cargo
•More than 42,000-square-metres of warehousing
•37 heavy container handling machines

•16 hectares of container storage space
•An 8,000-square-metre on-port packing facility – Port Pack
•10 hectares of dedicated log storage
•Dedicated stevedoring services through SSA
•Skilled log marshalling and stevedoring services, through ISO and C3
•Our Empty Container Depot at Thames Street was developed in 2015 to allow for empty-
containers to be stock piled ahead of the pipfruit season and we began developing a
second depot, Thames II, this year.
•We also have land holdings at Whakatu – this site future proofs our off-port capability in
Hawke’s Bay and we are currently doing investigations on what development
opportunities are possible for this site to support our customers’ export and import
requirements.
It’s worth a reminder of the key strengths of our business. We are a long-term infrastructure
asset linked to the Hawke’s Bay economy – there is a symbiotic relationship between the
region and the port. When the region does well, the port does well and vice versa.
Hawke’s Bay is currently experiencing significant growth, and many of the key markers we
look for across the regional economy are trending upwards.
We also have strong key customer relationships that have been built over the last 150 years.
We have a good diversified trade portfolio, which means we are not reliant on one or two
key commodities to sustain the port.
We are well-positioned, with good visibility of cargo volumes – we can go out and touch the
apple trees that are in the ground or being planted, we can see the forests that are ready to
be harvested and count the stock units of farms that are coming our way.
We have the permissions we need to construct the developments we have planned – such
as the fully-consented 6 wharf project.
We’ve delivered a strong financial performance over a number of years for our previous 100
percent shareholder, Hawke’s Bay Regional Council, and we have a robust record of
delivering on growth opportunities.
We have a great management team across the Napier Port business and we have strong
relationships with our cargo owners and other stakeholders across the shipping industry and
the community to support our business.
In 2018, we refreshed our business strategy.
We worked with our team, our customers and stakeholders on our purpose “Together we
build a thriving region by connecting you, our customer, our people and our community, to
the world.

We established a strategy, including our four key focus areas:
·Customer Connection – getting closer connections and getting deeper insights into what
our customers need from us.
·Harnessing Data and Technology – we capture a lot of data on our customer’s
businesses, as well as data on the operation of our own business every day. We already
use this data to improve the efficiency of our own business but increasingly we are using
data and technology to enhance the efficiency of our customer’s supply chains.
·Networked Infrastructure – it’s important as a port that we remain connected to our
customers through the development of infrastructure, such as our links through road,
rail and sea and the building of infrastructure that will provide the services required by
our customers and region, now and into the future.
·Collaborative Partnerships – at Napier Port we like to work with people that know and
understand our business, but more importantly share in the same aspirations as we have
to make our region thrive.
This strategy helps us to establish our business goals and we now have a 10-year road map
to guide and direct us into the future.
All of this is built on a strong foundation of our “Culture of Care” which recognises the
history and importance of the people within our port and the community that we operate
in. Our culture of care is demonstrated by:
·Our care for the health and safety of our people;
·Our care for our customers and their cargo; and
·Our care for the environment and the communities we operate in.
This strategy drives everything we do at Napier Port.
2019 has been a significant and historic year for Napier Port. We’ve seen a strong operating
result and continued growth across all major trades.
We enjoy a buoyant local economy and rural sector seeing continued investment in Hawke’s
Bay, despite concerns of global trade headwinds and recent pricing fluctuations in forestry
and fibre.
Investment in new infrastructure, plant and equipment is boosting our operational
capability and resilience.
We’ve added additional experience to our Senior Management Team, driving our strategy
and innovation agenda and commercial areas of the business to support regional and out-
of-region growth.
We have continued to develop and invest in our people and culture of care.
In contrast to many other ports, Napier Port is privileged to have a strong social license, as
demonstrated by:

·Local support for our resource consents for the development of 6 Wharf
·Significant demand and support from locals for ownership via the IPO
·97% of full-time employees are now shareholders in Napier Port
·Four of our local iwi now invested in Napier Port.
2019 has been a year of significant change and progress. We’ve made a good start as a
publicly-listed company, with strong operating result and continued growth across all our
major trades.
New infrastructure, plant and equipment has boosted operational capability and our
resilience as a port.
We’ve gained 9,000+ new shareholders and 97% of our team are now shareholders in the
business.
We’ve also now got the balance sheet we need to support growth of the port and our
region.
I’d now like to hand over to Napier Port’s Chief Financial Officer, Kristen Lie to present the
financials.
Napier Port Chief Financial Officer, Kristen Lie
Good morning everyone,
It has been another big year for cargo volumes, with new records set. Across all cargo
trades, our total of 5.5 million tonnes was a 7.3% increase from 2018 and a new record.
The main growth driver for total cargo and in particular, bulk cargo, is logs.
In 2019, we achieved a new record of 2.6 million tonnes of logs, an increase of 16.9% from
2018 and 3.2% ahead of forecast.
For container services we had a total container TEU volume of 271,000, 1.9% ahead of the
prior year, and 1% ahead of forecast.
A highlight was the 9.9%, or 5000, TEU increase to 54,000 TEU in export reefer containers.
Higher export volumes were driven by another record export season for apples, an 8.6%
increase, increased meat exports, offset by decreased canned and other food exports.
As forecast, 2019 cruise vessel visits increased to 70 from 57 in 2018 - a 22.8% increase.
2019’s cruise revenue increased 46.1% to $3.7M compared to 2018, and was up 4.1% on our
forecast.
Cruise is a major contributor to the region with Statistics New Zealand estimating that cruise
passengers spent $28.4M in Hawke’s Bay in the year to June 2019.

The Napier Port cruise call continues to be rated highly as a cruise destination in Australasia,
which is a credit to the local community, those involved in providing the cruise experience,
and Napier Port staff.
Total revenue for the year was $99.6M representing a very healthy 8.6% year-on-year
growth in revenue.
What was pleasing in this result was that we’ve seen revenue growth across all three of our
service areas – container services, bulk cargo and cruise.
In all three areas, both volumes and average revenue per unit have grown.
Bulk cargo revenue rose by $3.3M or 11.4% to $32.3M in 2019, and was driven by the 10.9%
volume growth to 3.4 million tonnes, including logs.
A good result for container services was achieved, with revenue rising $3.1M or 5.5% to
$61.2M.
In addition to the 1.9% increase in TEU volumes, revenue increased due to:
·Introduction of pricing initiatives to recover the costs of infrastructure investments
made to extend capacity and support growth;
·Additional income from on-port storage services, and off-port depot services; and
·A higher refrigerated container proportion in our container mix and income from
ancillary services such as power and monitoring of these containers.
Statutory Net Profit After Tax for 2019, after deducting costs associated with the IPO and
restructuring our debt portfolio, was $6.8M, significantly reduced from 2018.
However, on a pro forma basis, which adjusts for the significant one-offs and the IPO capital
structure changes, net profit of $19.8M for 2019 was $0.6M ahead of our forecast and
$2.2M higher than 2018.
Capital expenditure during the year was $18.5M. Compared to our forecasts, a number of
projects remained work in progress at year-end and some replacement spend has been
deferred into 2020.
Key development projects in progress at year-end were 6 Wharf pre-construction, progress
payments for our third tug Kaweka, and the further development of our off-port Thames
Street container services depot.
Now that we have recapitalised our balance sheet as a result of the IPO capital raising we
are in the process of mobilising to commence the 6 Wharf project and this, along with other
development and replacement projects, will see our capital spend increase significantly in
the next few years as we build for growth.
Compared to 2018 we have a transformed balance sheet.

The capital restructuring resulting from the equity raising sees us holding $31.2M of cash at
the year-end and undrawn bank facilities of $180M, which means we are positioned to
execute on our strategic development programme, including 6 Wharf.
This is a stronger cash position than forecast and this arose from the deferred capital
expenditure, in addition to a positive operating cashflow result for 2019.
Thank you, and I will now hand back over to Todd.
Napier Port Chief Executive, Todd Dawson
As 2019 comes to a close, we are keenly focused on what 2020 and beyond will bring.
Over the last year we’ve been working to develop a 30-year Master Plan for the port, which
has been critical to the share float process.
It examined the trade flows, engineering, design and shipping industry trends to help up to
truly understand the future development requirements of the port to support our region.
We went through three extensive and distinct phases, which included working with our
customers on what their future aspirations are to ensure that we can deliver the
infrastructure that they needed to grow their businesses.
This information fed into the 6 Wharf business case and the information that went to
investors ahead of the share float. Pleasingly, all this work confirmed without a doubt that
we need to expand the port, including 6 Wharf, and that we have options available in the
future, both on port and off the port, to manage longer term potential growth scenarios.
We’ve now launched the Master Plan to the public and we’re asking for feedback.
This year we are excited to take delivery of our third tug, Kaweka. Over 80 percent of Napier
Port’s shipping requires two tugs.
The arrival of Kaweka gives us more resilience by managing the risk of an unexpected
breakdown of one of the existing tugs, which could close the port for weeks.
It also gives us more capability to manage the larger vessels we are already receiving and
the even larger ships we expect to see when 6 Wharf is complete.
It also gives the team an opportunity to get familiar with operating a three-tug team, which
will be a requirement for berthing ships on 6 Wharf.
The third tug also helps reduce congestion, because we can manoeuvre ships day and night
within the port, which we can’t currently achieve with two tugs.
We’re also happy to report that, due to collaboration with the tug manufacturer Damen
during design, we have been able to make the tug 15 to 20 percent more powerful and
significantly more efficient.

We’re pleased that the development at Thames Street II, our second empty container
depot, will be completed early in the New Year.
It will be a container storage and distribution facility but will also house our container pre-
trip and wash activities to provide more room in the container terminal while we develop 6
Wharf.
It’s great to be able to support exporters in the region, with an efficient and modern facility.
Due to the share float, we now have a strong balance sheet in place for infrastructure
development.
After many years in the planning, we will begin construction of 6 Wharf early in the new
year and we’re aiming to complete it in mid-to-late 2022.
6 Wharf is key to unlocking our future potential and providing the resilience that the region
needs in its port, now and into the future.
It will improve the availability of our other wharves and reduce the secondary moves we are
forced to perform currently due to congestion and larger ships.
We secured resource consent for 6 Wharf, uncontested without going to the Environment
Court, which is rare for ports in New Zealand.
In line with our management plans, we are working closely with the community throughout
construction to ensure minimal impact on our neighbours and the marine environment,
including the establishment of a Mana Whenua Komiti and a local Fishing Liaison Group.
After a rigorous process to find the right contractor, during November this year we signed a
contract with New Zealand-based company HEB Construction to construct the wharf.
Due to an ‘early contractor involvement’ process we were able to get a robust fix on the
project cost, so there is no change to the estimated cost disclosed during the IPO process.
At Napier Port, we are focused on maintaining our social license - which for us means
operating in a sustainable way.
It’s not about one focus area – such as being carbon neutral or declaring a climate crisis. For
us, sustainability is far broader and encompassing. We believe we need to think globally but
act locally on areas we can make a real difference to.
This year we selected the UN Sustainable Development Goals framework to help guide
where we put our focus. Next year we will use that to build our Sustainability Strategy,
which we will start to take further action against and report our progress on.
It’s pleasing to note that Napier Port is already working on a number of initiatives in the
sustainability space, including our penguin sanctuary, energy efficiencies and collaborating
with the community, even before we start developing our sustainability strategy,
This is an important element in our ability to maintain and develop our social license to
operate and will become an increasingly import focus for our business.

Although we’ve had a great year on many fronts, the sobering reality is that we also
experienced a number of safety incidents, including incidents that have left two of our
people permanently injured.
It’s been a wake-up call for us - that’s made us stop, check and double-down on our health
and safety efforts to ensure that everyone who comes on port goes home safely.
Our board is very clear - at Napier Port, profit will never come before people – so next year
we are focusing more investment and resources on improving our health and safety
processes and in particular we will be focusing on our critical risk areas.
This year we have continued to invest in the thing that sets us apart from many other big
business – our culture of care.
As an example, we have established a Fatigue Working Group to design and deliver a
Fatigue Risk Management Framework to help our shift workers manage their overall
wellbeing.
We’ve provided mental health first aid training, so our people can recognise when their
work mates need support.
We’re implementing GPS mapping of activities and hazards on port to improve visibility of
hazardous activities and bolster safety across the port.
We are embracing Te Aō Maori, establishing a Kahui group to identify and build our Maori
tikanga and support Te Reo development in our workforce.
And we have ensured our people have an opportunity to take a share in the company
through the provision of a Fair Share loan – which saw 97 percent of our people buy shares.
This year has been a significant year for us and next year will see more major milestones –
we are up for the challenge and we look forward to sharing that journey with you all.
Thank you for coming today - I’d like to hand back to chairman, Alasdair MacLeod.
Napier Port Chairman, Alasdair MacLeod
In concluding our overview, I would like to take the opportunity to thank a few people for
the key role they have played in our success over the last year.
While it’s not normal to thank the major shareholder, I’d like to publicly acknowledge
Hawke’s Bay Regional Council chairman, Rex Graham. He’s been an absolute rock of support
in the lead up to listing the company – his leadership was extraordinary and a key reason for
us all being here today.
I’d also like to commend Hawke’s Bay Regional Council chief executive, James Palmer, and
Hawke’s Bay Regional Investment Company chief executive, Blair O’Keeffe, for their
knowledge and guidance over what has been a gruelling IPO process.

Most importantly, I would like to thank the dedication and passion of our people. There was
no stronger demonstration of your faith in this company than the 97% uptake of shares.
Your commitment to the company and to the success of this region is a huge advantage and
will be the key stone for us achieving the plans we have for the next decade. Thank you.
Lastly, I’d also like to make special mention of one of Napier Port’s longest serving
supporters. Warren Young has spent the last 21-years, a large chunk of his life so far, making
an enormous contribution to the company through his business acumen and operational
insight. He retires next week and, while his pragmatic wisdom will be missed, his legacy will
live on in the talented team he has built. Good luck Warren.
Thank you for coming today and thank you for your continued support of Napier Port.
No reira tēnā koutou, tēnā koutou, tēnā koutou katoa.

---

ANNUAL SHAREHOLDERS MEETING 2019
NAPIER CONFERENCE CENTRE
20 DECEMBER 2019
BUILDING FOR
THE FUTURE

IMPORTANT NOTICE AND DISCLAIMER
This presentation has been prepared by Napier Port Holdings Limited (together with Port of Napier Limited, "Napier
Port"). This presentation is being provided to you on the basis that you are, and you represent and warrant that you are,
a person to whom the provision of the information in this presentation is permitted by the applicable laws and regulations
of the jurisdiction in which you are situated without the need for registration, lodgement or approval of a formal disclosure
document or any other filing or formality in accordance with the laws of that foreign jurisdiction.
Information only; No reliance: This presentation is for information purposes only and you should not rely on this
presentation. This presentation does not purport to contain all of the information that you may require or be complete.
The historical information in this presentation is, or is based upon, information that has been released to NZX Limited
("NZX"). This presentation should be read in conjunction with Napier Port's other periodic and continuous disclosure
announcements, which are available at www.nzx.com.
The information in this presentation does not constitute a personal recommendation or service or take into account the
particular needs of any recipient. The information in this presentation should be considered in the context of the
circumstances prevailing at the date and time of the presentation and is subject to change without notice. No person is
under any obligation to update this presentation nor to provide you with further information about Napier Port. This
presentation does not constitute or form part of an offer to sell, or a solicitation of an offer to buy, any shares, securities
or financial products in any jurisdiction. This presentation has not been and will not be filed with or approved by any
regulatory authority in New Zealand or any other jurisdiction.
Investment risk: An investment in securities in Napier Port is subject to investment and other known and unknown risks,
some of which are beyond the control of Napier Port. Napier Port does not guarantee any particular rate of return or the
performance of Napier Port.
No liability: Napier Port, its shareholders, their respective advisers and affiliates, and each of their respective directors,
shareholders, partners, officers, employees and representatives accept no responsibility or liability for, and make no
representation, warranty or undertaking, express or implied, as to, the fairness, accuracy, reliability or completeness of,
and to the maximum extent permitted by law hereby disclaim and shall have no liability whatsoever (including, without
limitation, arising from fault or negligence or otherwise) for any loss or liability arising from, this presentation or any
information contained, referred to or reflected in it or supplied or communicated orally or in writing to you or any other
person. The information in this presentation has not been independently verified or audited.
Financial data: All dollar values are in New Zealand dollars (NZ$ or NZD) unless otherwise stated. Any financial
information provided in this presentation is for illustrative purposes only and is not represented as being indicative of
Napier Port's views on its future financial condition and/or performance.
Investors should be aware that certain financial data included in this presentation are 'non-GAAP financial measures'.
Investors are cautioned not to place undue reliance on any non-GAAP financial measures included in this presentation,
they do not have a standardised meaning prescribed by New Zealand Generally Accepted Accounting Standards and,
therefore, may not be comparable to similarly titled measures presented by other entities, nor should they be construed
as an alternative to other financial measures determined in accordance with New Zealand Generally Accepted
Accounting Standards.
Past performance: Any past performance information given in this presentation is given for illustrative purposes only
and should not be relied upon as (and is not), a promise, representation, warranty or guarantee as to the past, present
or the future performance of Napier Port.
Future performance: This presentation contains "forward-looking statements", which include all statements other than
statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the
words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or similar
expressions or the negative thereof. Indications of, and guidance or outlook on, future earnings or financial position or
performance are also forward-looking statements. Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the control of Napier Port that could cause the actual results,
performance or achievements of Napier Port to be materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. No assurances can be given that the forward-looking
statements referred to in this presentation will be realised. Given these uncertainties, you are cautioned not to rely on
such forward-looking statements.
Confidentiality and copyright: This presentation is strictly confidential and is intended for the exclusive benefit of the
person to which it is presented. This presentation should not be copied, reproduced or redistributed without the prior
written consent of Napier Port. Distribution of this presentation may be restricted or prohibited by law. The copyright of
this presentation and the information contained in it is vested in Napier Port.
Acceptance: For purposes of this Notice, "presentation" shall mean the slides, the oral presentation of the slides by
Napier Port, any question-and-answer session that follows that oral presentation, hard copies of this document and any
materials distributed at, or in connection with, that presentation. By attending an investor or analyst presentation or
briefing, or accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this
Notice.

ALASDAIR MACLEOD
CHAIRMAN

DIRECTORS
VINCENT TREMAINEHON RICK BARKER
ALASDAIR MACLEODSTEPHEN MOIR
JOHN HARVEY
DIANA PUKETAPU
BLAIR O’KEEFFE
WENDIE HARVEY

MEETING AGENDA
Refreshments
General business
Chief Executive’s address
Consideration of the 2019 annual report and financial statements
Chair’s address
Ordinary business
- Resolutions

2019 HIGHLIGHTS
•2019 a year of significant change and progress
•Good start as a publicly-listed company;
results in line with forecasts
•Focus on strategic purpose to build a thriving region by connecting
our customers, people and community to the world
•Balance sheet to support growth
•Delivering on our business plan and integrating sustainability
are focus areas for 2020
•Fully imputed dividend of 2.5 cps declared (as forecast)

CHIEF EXECUTIVE’S
ADDRESS

TODD DAWSON
CHIEF EXECUTIVE

AN AGILE AND RESILIENT PORT

Experienced management team that is well connected with cargo owners and other stakeholders
Strong historical financial performance and a record of execution on growth opportunities
Strong regional economic growth drivers and strong key customer relationships
Diversified trade portfolio mitigates sector and country-specific risks
An infrastructure asset essential to the health of the Hawke’s Bay economy
A LONG-TERM ASSET ESSENTIAL TO THE HEALTH OF THE HAWKE’S BAY ECONOMY
KEY BUSINESS STRENGTHS
Well-positioned given future cargo visibility and fully-consented development plans

STRATEGIC DIRECTION

HIGHLIGHTS

9
$6.8
SHAREHOLDERS
THOUSAND
NET PROFIT
AFTER TAX
SHARE
2.5
DIVIDEND
CENTS PER
REVENUE
–
MILLION
UP 8.6%
.6
$
HIGHLIGHTS
97
ARE NOW
OF OUR
%
SHAREHOLDERS
PEOPLE
5.5
CARGO
MILLION TONNES
CALLS
687
SHIP
PRO
FORMA
NPAT
$19.8M

KRISTEN LIE
CHIEF FINANCIAL OFFICER

CARGO VOLUMES STRONG
59%
LOGS
9%
WOODPULP
5%
TIMBER
5%
APPLES
& PEARS
4%
MEAT
11%
OTHER
FY19
CARGO BY
WEIGHT
5.5
MILLION TONNES
OF CARGO HANDLED – UP 7%
5000
ADDITIONAL TEU
2.6
OF LOG EXPORTS – UP 16.9%
MILLION TONNES
50
TEU THROUGH PORT PACK
THOUSAND
271,000 TEU IN TOTAL

CRUISE
2.6
3.7
3.6
-
10
20
30
40
50
60
70
80
$-
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
FY2018 FY2019 FY2019F
Visits
Millions
Revenue (LHS)Visits (RHS)
HAWKE’S BAY A POPULAR DESTINATION
46.1%
IN CRUISE REVENUE
GROWTH
22.8%
IN CRUISE CALLS
GROWTH
70
CALLS – UP 13
CRUISE
$28
BY CRUISE PASSENGERS
MILLION SPENT

STRONG REVENUE RESULT
61.4%
CONTAINER
SERVICES
32.4%
BULK
CARGO
3.8%
CRUISE
2.4%
OTHER
FY19
REVENUE
$99.6
MILLION
REVENUE
8.6%
YEAR-ON-YEAR
REVENUE GROWTH

PROFIT RESULT AHEAD OF FORECAST
17.6
6.8
5.6
19.8
19.2
$-
$5
$10
$15
$20
$25
FY2018 FY2019 FY2019F
Millions
NPAT AND PROFORMA NPAT
NPAT (reported)Pro forma NPAT

CAPITAL EXPENDITURE
•Capital expenditure* increased $5.4m
compared to 2018
•$9.0m in spend on projects in-progress and
replacement programmes expected to be
completed during FY2020
* Including accounting accruals. FY2019 cash spend $17.4m
GROWING DEVELOPMENT CAPEX
18.5
76.1
$-
$10
$20
$30
$40
$50
$60
$70
$80
FY2019FY2020F
Millions
DevelopmentReplacementCompliance and other
Breakwater
Strengthening
Led Light Towers
Thames II
Dredging and 6
Wharf pre-works

BALANCE SHEET READY FOR 6 WHARF
•
Cash & cash equivalents balance of $31.2m
•
No bank debt at balance date, $180m undrawn facilities
FY2019
$M
FY2018
$M
Var
$M
FY2019F
$M
Var
$M
Cash & cash equivalents31.2(0.1)+31.320.1+11.2
Property, plant & equipment317.2309.6+7.6326.3-9.1
Other net liabilities(12.9) (16.6)-3.7(11.1)-1.8
Loans and borrowings-80.5-80.5--
Equity balances335.5212.4 +123.1335.3+0.2

TODD DAWSON
CHIEF EXECUTIVE

MASTER PLAN

KAWEKA | BUILDING CAPACITY

THAMES II | BUILDING CAPACITY

6 WHARF | BUILDING CAPACITY

UNITED
NATIONS
SUSTAINABLE
DEVELOPMENT
GOALS
THE SDGS INVOLVE US ALL TO BUILD A MORE SUSTAINABLE,
SAFER, MORE PROSPEROUS PLANET FOR ALL HUMANITY
– UNITED NATIONS

HEALTH & SAFETY INCIDENTS
WHAT NEEDS TO CHANGE
SERIOUS INCIDENTS
Two serious harm incidents
PRIORITY IMPLICATIONS
• Refocus on health and safety risks and critical risk controls
• Further investment in health and safety systems and engineered
controls to remove people from harms way

•
Improving health and safety
•
Supporting the wellbeing of our people
•
Embracing Te Ao Māori
INVESTING IN OUR PEOPLE
OUR CULTURE IS OUR POINT OF DIFFERENCE
Port Emergency
Warning System
Embracing
TeAo Māori
Fatigue
Working Group
Port Emergency
Warning System
Wellbeing
Programme

ALASDAIR MACLEOD
CHAIRMAN

FINANCIAL REPORTS
AND STATEMENTS:
SHAREHOLDER QUESTIONS

ORDINARY BUSINESS

DIANA PUKETAPU
INDEPENDENT DIRECTOR

RESOLUTION 1
To re-elect Alasdair MacLeod as a director of the company

RESOLUTION 1
To re-elect Alasdair MacLeod as a director of the company
ForAgainst Abstain
Proxies137,072,281
(99.65%)
8,726
(0.01%)
7,692

RESOLUTION 2
To re-elect Stephen Moir as a director of the company

RESOLUTION 2
To re-elect Stephen Moir as a director of the company
ForAgainst Abstain
Proxies137,071,345
(99.65%)
9,846
(0.01%)
7,692

RESOLUTION 3
To authorise directors to fix the Auditors
remuneration for the ensuing year

RESOLUTION 3
ForAgainst Abstain
Proxies137,041,546
(99.63%)
7,202
(0.01%)
11,252
To authorise directors to fix the Auditors
remuneration for the ensuing year

VOTING

GENERAL BUSINESS

MEETING CLOSED

ANNUAL MEETING 2019
NAPIER CONFERENCE CENTRE
20 DECEMBER 2019
BUILDING FOR
THE FUTURE