South Port New Zealand reported a record net profit after tax of $16.11 million for the year ended 30 June 2026, up 21 percent from $13.3 million in FY25. Revenue rose 14 percent to $71.8 million. Total cargo volumes increased 11.5 percent to a record 3.96 million tonnes.
The company declared a full-year dividend of 29 cents per share, up from 28 cents. EBITDA climbed 16 percent to $29.9 million. Operating free cash flow grew 9 percent to $18.4 million, while the debt-to-EBITDA ratio improved to 0.6 times from 1.0 times.
Key FY26 figures
- Net profit after tax: $16.11 million (+21%)
- Revenue: $71.8 million (+14%)
- Cargo volumes: 3.96 million tonnes (+11.5%)
- Container throughput: 62,000 TEU (+18.5%)
- Tiwai Wharf volumes: 0.94 million tonnes (+16.1%)
The results coincide with the opening of the new Bluff Freight Centre. South Port added 4,000 square metres of dairy-standard storage capacity through redevelopment of the former Southland Coolstores site. The expansion supports record national dairy exports.
A national dairy record
New Zealand dairy exports reached $28.8 billion for the year to June 2026, up 6 percent and a new high, according to Ministry for Primary Industries figures. Food and fibre exports totalled a record $65.2 billion, up 8 percent or $4.8 billion. Dairy accounts for roughly 45 percent of primary sector revenue.
South Port anticipates about 20 new jobs from the dairy storage project, expanding its 140-person workforce. It also plans to fill around 21 additional roles over the next 12 to 18 months to handle container growth.
The team's done a very good job of upgrading the facilities and getting them into a dairy standard store.
— Derek Nind, CEO, South Port New Zealand
Southland's emerging pipeline
The port flagged opportunities from Ngāi Tahu's Hananui open-ocean marine farm off Rakiura/Stewart Island. The 1,285-hectare project received fast-track consent in August 2026. Mercury's Puke Kapo Hau wind farm expansion, adding 192MW at a cost of $506 million, begins construction in November 2026.
Q1 FY27 cargo volumes already reached 1 million tonnes, up 13 percent. Management noted caution around the absence of one-off wind farm project cargo in future periods and ongoing investment needs. The diversified cargo mix, including forestry, fertiliser, stock feed and aluminium, provides resilience.
The expansion and record volumes channel stronger dairy export earnings into Southland infrastructure and employment. Dairy contributes $955.4 million to regional GDP and supports more than 4,000 jobs in Southland.
