Napier Port Reinstates FY23 Earnings Guidance

Napier Port (NZX.NPH) today reinstates earnings guidance for the financial year ended 30 September 2023.

Napier Port expects to report an unaudited underlying result from operations for the nine months to 30 June 2023 of $29.1 million, down from the $29.8 million reported for the same period in the prior year.

In addition, Napier Port expects an underlying result from operations for the full financial year to 30 September 2023 of between $34.5 million and $36.5 million.

This guidance assumes normal and uninterrupted operating conditions for the remainder of the financial year.

To date Napier Port has lodged and received acknowledgement of an interim material damage and business interruption insurance claim related to losses following the Cyclone Gabrielle event earlier in the year, but has not yet received any proceeds. The nine-month unaudited underlying result from operations and full financial year guidance provided exclude any insurance recoveries.

The Company will provide a further update on 16 August 2023 with the release of its nine-month interim financial results.

ENDS

For more information:

Investors
Kristen Lie
Chief Financial Officer
DDI: +64 6 833 4405
E: [email protected]

Media
Jo-Ann Young
Corporate Affairs Manager
DDI: +64 6 833 4521
E: [email protected]

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/

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Announcement PDF