South Port Delivers Record Financial Performance

NZX Announcement

NZX: SPN: South Port New Zealand


29 October 2025

South Port New Zealand Delivers Record Financial Performance and Positive Outlook

South Port New Zealand Limited (NZX: SPN) today presented on their record financial results
for the year ended 30 June 2025, highlighting strong growth in cargo volumes, robust financial
performance, and continued progress across key strategic initiatives.

Chair of South Port, Philip Cory-Wright, said the 2025 financial year reflected a significant step
up for the company, with a record normalised net profit after tax (NPAT) of $13.9 million, up
40% on the prior year, and a reported NPAT of $13.3 million, up 81%. Revenue increased 13%
to $63.3 million, driven by a strong recovery in bulk cargo and continued diversification of
trade.

“This is an exceptional result built on the resilience of our people, strong relationships with our
customers, and the benefits of strategic infrastructure investment,” said Cory-Wright. “We’ve
achieved growth while maintaining a prudent approach to capital management and dividend
returns.”

The company declared a full-year dividend of 28 cents per share, up from 27 cents in FY24,
reflecting confidence in the sustainability of earnings and cash flows.

Operational highlights included an 11% increase in total cargo throughput to 3.55 million
tonnes, supported by strong bulk cargo performance. Bulk volumes grew 12.5%, underpinned
by demand from agriculture and forestry sectors. Container volumes remained steady, and
South Port continued to benefit from balanced trade with exports representing 47% and
imports 53% of total cargo.

Chief Executive, Nigel Gear, said the successful channel deepening project, completed on
time and under budget, has already delivered tangible benefits to customers.

“The additional metre of draft allows us to load more cargo per vessel, improving safety and
efficiency while providing real cost advantages to exporters,” said Gear.

South Port also continued to strengthen its commitment to sustainability, completing post-
dredging environmental monitoring, and advancing relationships with Awarua Rūnaka and the
wider Southland community.

Looking ahead, the company expects trade volumes to remain strong through FY26,
supported by continued growth in the dairy and forestry sectors, consistent container volumes,
and stable operations at the New Zealand Aluminium Smelter (NZAS), which recently secured
a 20-year electricity supply agreement extending to 2044.

Emerging opportunities in aquaculture, renewable energy, and data infrastructure are also
expected to underpin South Port’s longer-term growth. The company anticipates significant
future capital investment for both growth opportunities and the replacement of assets over the
next five years.

“South Port’s strong balance sheet and disciplined investment approach position us well to
support Southland’s future industries,” said Cory-Wright. “Our focus remains on enabling
regional growth while delivering sustainable returns for shareholders.”


For further information contact:

Mr Nigel Gear
Chief Executive
South Port New Zealand Ltd
Tel: (03) 212 8159
Email: ngear@southport.co.nz

Mr Philip Cory-Wright
Chair
South Port New Zealand Ltd
Mobile: 021 767 828
Email: philip@cory-wright.co.nz