News

CentrePort has ended the FY26 financial year strongly with an Underlying NPAT of $20.9m, up 19% on the last financial year and $2.3m ahead of expectations set out in the Statement of Corporate Intent.

The result reflects continued growth across the port's core operations, particularly in container trade, reinforcing CentrePort's strategic role in New Zealand's supply chain and delivering another year of strong performance for shareholders.

Underlying NPAT increased by $3.3 million from FY25, continuing a sustained and resilient growth trajectory that has seen earnings increase at a compound annual growth rate of 27% since FY22.

CentrePort Chair Lachie Johnstone said the result demonstrates the strength of the company's long-term strategy and the resilience of its diversified business.

"FY26 has been another year of strong growth for CentrePort. We have delivered increased profitability, grown cargo volumes across several key trade segments and continued to invest in the infrastructure and capability needed to support New Zealand's supply chain. This is just the kind of positive news Wellington needs right now, alongside news that the port had employed an extra 51 people last year to meet new business demands. Our current and anticipated growth means we are continuing to hire, building more capacity and capability for the port. This shows that Wellington’s economy and business is starting to improve,” Mr Johnstone said.

Revenue growth driven by significant increase in cargo activity

Net revenue rose 16% year-on-year, supported by higher container volumes and continued strength across key cargo streams. After deducting CentreConnect costs and ferry project construction costs, net revenue has grown at a compound annual growth rate of 27% since FY22.

EBITDA (as a percentage of net revenue) improved to 35%, compared with 31% in the prior year, reflecting improved port operating margins that more than offset higher depreciation, lower investment income and reduced subsidiary and joint venture returns.

A key highlight for the year has been container growth, with container volumes increasing 69% following the introduction of new shipping services, including the MSC Eagle from February 2026.

Chief Executive Anthony Delaney said CentrePort's strengthening position was creating significant value for customers and the wider economy.

"The arrival of new MSC services, alongside the addition of COSCO/OOCL’s weekly ANE service, and our existing Asian services, underscores the confidence global shipping lines have in our capability and operations. It strengthens Wellington's connection to international markets and enhances the resilience of New Zealand's supply chain."

Mr Delaney said operating as a container hub, combined with steady volumes in logs, fuels and other cargo, reinforced Wellington's increasingly important role in New Zealand's freight and supply chain network.

Log exports reached 1.89 million JAS, increasing 2% on FY25. Petroleum imports rose 5% compared with the previous year despite ongoing disruption in global fuel markets.

“This arguably positions CentrePort as a port with the capability to meet New Zealand’s growing needs, and with the ability to rapidly create future capacity to meet our customer demands.”

For Cruise, numbers in isolation don’t tell the whole story. CentrePort had 71 cruise ship visits (slightly below the previous season), 108,000 passengers and an additional 30% of ship crew visited the capital. Nationally, fewer ships are scheduled to visit Wellington and NZ this season.

“We saw this coming and have done a considerable amount of work with the NZ Cruise Association, other ports in New Zealand and with WellingtonNZ regionally, to engage with cruise lines and rebuild bookings. This is already paying off with a considerable number of additional bookings coming in for the 2027/28 and 2028/29 seasons,” Mr Delaney said.

Looking ahead, Mr Johnstone said the focus would be on consolidating the port’s sustainable growth trajectory and considering the future. Mr Delaney agreed and said the key would be the port’s efficiency and ability to meet customers’ changing needs, with no room for complacency.

Key Highlights for the 2026 Financial Year:

·         19% increase in Underlying NPAT to $20.9m.

·         Underlying NPAT compound annual growth rate of 27% since FY22. 

·         EBITDA as a percentage of net revenue improved to 35%, compared with 31% the prior year.

·         $13m in declared Shareholder dividends, an increase of 18% on FY25.

·         145,155 TEU up 69% on FY25 following introduction of new weekly shipping services, including MSC Eagle and COSCO/OOCL’s weekly ANE Service. Full exports and full imports increased 31% and 4% respectively.

·         CentrePort being used as a container hub, strengthening Wellington’s role in NZ’s supply chain.

·         1.89m JAS log exports, 8% above SCI and 2% ahead of FY25.

·         985,827 tonnes of bulk fuel, 4% above SCI forecast and 5% ahead of FY25 result, despite global fuel supply disruptions.

·         16% increase in net revenue. 

·         32% increase in EBITDA. 

·         Net assets increased to $525.7m.

·         $39.7m invested in port infrastructure and assets during the year, supporting new/future cargo growth.

ENDS

For enquiries, please contact Communications@centreport.co.nz, or call 029 200 4848.