Page 1

PORT OF TAURANGA press release 26 February 2021 ( Embargoed until 8.30 am ) Port of Tauranga Reports Improved Profits Despite Widespread Disruption to Cargo Volumes and Operations Port seeks consent for an additional berth to help alleviate Upper North Island supply chain congestion Port of Tauranga , New Zealand's largest port and international freight gateway , today reported increased profitability for the first six months of the 2021 financial year , despite volatile cargo volumes and congestion issues being experienced at Ports of Auckland . Group Net Profit After Tax for the six months to December 2020 was $ 49.4 million , a 2.3 % increase on the same period the previous year , despite a 1.3 % decrease in total trade volumes , to 13.1 million tonnes . Container numbers decreased 4.6 % compared with the previous corresponding period , to 612,988 TEUs¹ . Highlights and Challenges For the six months to 31 December 2020 : • • Group Net Profit After Tax increased 2.3 % to $ 49.4 million Total trade decreased 1.3 % to nearly 13.1 million tonnes , down from 13.3 million tonnes the previous year • Container volumes decreased 4.6 % to 612,988 TEUS • Transhipment of containers also decreased , by 5.1 % in TEUS • Subsidiary and Associate Company earnings increased 22.3 % • Imports increased 5.0 % to 4.9 million tonnes • Exports decreased 4.8 % to 8.2 million tonnes • • Log export volumes were 2.1 % lower than in the same period last financial year , at nearly 3.3 million tonnes Dairy exports were down 10.8 % to 1.1 million tonnes Interim dividend of 6.0 cents , the same as last year Port of Tauranga Limited Chair , David Pilkington , said the mid - year financial results were very pleasing considering the volatility in cargo volumes over the period and reflected the stability offered by the diverse companies in the group . 1 TEUS = twenty foot equivalent units , a standard measure of shipping containers Leading through Innovation and Commitment Port of Tauranga Limited Salisbury Avenue Mount Maunganui - New Zealand Private Bag 12504 - Tauranga Mail Centre - Tauranga 3143 Phone : +64 7 572 8899 Fax : +64 7 572 8800 www.port-tauranga.co.nz