NPH - Half Year 2023 Trade Volumes

Thursday 6th April 2023

Napier Port (NZX.NPH) today releases trade volume data for the half year ended 31 March 2023. Compared to the same period a year ago, total container volumes increased 5.7%, total bulk cargo volumes decreased 9.3%, and cruise vessel calls increased from 1 to 62 with the restart of international cruise to New Zealand.

Chief Executive Todd Dawson said: “Prior to Cyclone Gabrielle (13-14 February), our underlying result from operating activities was tracking towards the top end of our previously reported guidance range. Subsequent damage to regional infrastructure and exporters’ premises and crops has resulted in reduced cargo volumes for the remainder of the half year period.

“Noticeably, other container movements (DLRs and tranships) doubled compared to the same period last year, reflecting the additional wharf availability Te Whiti is delivering and providing a relief valve for congestion elsewhere. Two new weekly shipping services were confirmed this period, TS Lines Napier to China direct that commenced in January and ANL Trans-Tasman service that commences on Sunday, 9th April.

“Road and rail access continues to open up, with key state highways to the North and South fully open and rail services restarted from Woodville to Hastings on Monday 3rd April. Coastal shipping on the East Coast is providing an additional access route for exporters in areas where road or rail is only partially restored.

“We will provide a further update when we release our financial results for the 2023 half year towards the end of May” Mr Dawson said.

Container Services

Total container volumes for the second quarter of the 2023 financial year decreased 0.6% to 59k TEU from 60k TEU in the same period a year ago. For the half year, total container volumes of 119k TEU increased 5.7% from 113k TEU in the prior period.

Full container volumes (i.e. excluding empties and other container movements) during the half year period decreased 7% while empty and other container movements increased 23.2%, compared to the same period a year ago.

Reefer export cargo for the half year decreased 18.1% to 15k TEU, driven primarily by trades impacted by Cyclone Gabrielle. Export meat volumes decreased due to damaged road and rail links between exporters and Napier Port, and squash and onion volumes decreased as weather events impacted both the planting and harvesting of crops this season. Apple exports decreased 10.7% as a result of damage and disruption suffered by exporters as a result of the cyclone.

Dry export cargo for the half year reduced 1% to 30k TEU. Wood pulp and timber exports were impacted by cyclone damage to exporters’ premises and plant, and damage to road and rail links between exporters and Napier Port.

Containerised imports for the half year increased by 6.5% from 54k TEU to 57k TEU. The increase was primarily driven by higher empty container imports in the first quarter, in advance of seasonal produce exports and due to improved container equipment availability. Dry imports decreased 5.9% to 14k TEU on lower general cargo and fertiliser.

Other container movements for the half year, including DLRs and transhipped containers, increased 101.4% from 6k TEU to 12k TEU due to increased transhipment and restow activity.

Container vessel calls for the half year were 110, up from 102 calls in the prior year. The new TS Lines direct to Asia NZE service commenced calling Napier Port from January, and the coastal Rangitata service between Gisborne and Napier commenced from March.

Bulk Cargo

Total bulk cargo volume, compared to the same periods a year ago, decreased 21.2% for the second quarter to 0.57 million tonnes, and 9.3% for the half year to 1.55 million tonnes.

Log export volumes decreased 175k tonnes, or 30.1%, for the second quarter and 172k tonnes, or 13.1%, for the half year due to weaker volumes following Cyclone Gabrielle.

Charter vessel calls decreased to 149 from 155 in the same half year period a year ago.

Cruise Services

There were 62 cruise vessel calls during the half year period, and a total of 64 cruise vessel calls for the 2022-23 season, which completed in early April. There were 14 cruise cancellations following Cyclone Gabrielle.

Further information is included within the attachment.

ENDS

For more information:

Investors

Kristen Lie

Chief Financial Officer

DDI: +64 6 833 4405

E: kristenl@napierport.co.nz

Media

Jo-Ann Young

Corporate Affairs Manager

DDI: +64 6 833 4521

E: jo-anny@napierport.co.nz

About Napier Port

Napier Port is New Zealand’s fourth largest port by container volume. We are the gateway for Hawke’s Bay and lower North Island’s exports and operate a long-term regional infrastructure asset that supports the regional economy. Our strategic purpose is to collaborate with the people and organisations that have a stake in helping our region grow. View Napier Port’s investor centre: www.napierport.co.nz/investor-centre/

NPH Half Year 2023 Trade Volumes

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