4 September 2025

Lyttelton Port Company posts record result despite challenging market conditions

Highlights

• Underlying NPAT up 62.8% to $25.2m – record result
• 12.1m in dividend payments
• Revenue up 6.8% to 207.0m – record result
• Expenses up 1.5% to 143.6m
• EBITDA up 21.1% to $63.4m
• 33 % Improvement in Ship Turnaround Time
• 7.9% drop in Scope 1 emissions

Lyttelton Port Company (LPC) has reported a record underlying net profit after tax (NPAT)of $25.2m for FY25, up 62.8% from the FY24 result of $15.5m.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the year were a record $63.4m, a 21.1% increase from FY24. This was driven by a rise in total revenue, which increased by 6.8% to a record $207m.

“This is a welcome improvement in our financial performance,” said LPC Chair Barry Bragg.

“LPC will continue to focus on delivering higher returns to support the port’s growth,” he added.

Barry Bragg also emphasised the importance of safety, efficiency and productivity for customers.

“We are committed to delivering safe and efficient performance, which remains a major focus for our board and management.”

“The Board remains focused on driving significant improvements in Health and Safety. Our comprehensive action plan includes enhancing leadership, work practices, and asset upgrades to ensure a healthy workforce,” said Bragg.

Total container volumes were slightly down at 431,556 TEU, a 3.7% decrease compared to FY24’s 448,364 TEU; however, general cargo volumes of grain and fertiliser were substantially higher, reflecting the positive outlook for the agricultural sector.

Total bulk imports were up 24%, with tonnage increasing from 671,449 tonnes to 833,116 tonnes. Fuel was up 4.4%, and cars increased from 34,198 to 35,233, a 3% increase compared to FY24. Logs exports decreased 2.3% from 394,376 tonnes to 385,500 tonnes in FY25.

“Our team has worked diligently to improve our operational performance and manage our capital and operating costs, said LPC CEO Graeme Sumner.

“Importantly, we have achieved this while implementing a comprehensive risk management program designed to reduce health and safety risks in our business,” he said.

During the year, LPC paid a total of $12.1m in dividends, including a final dividend of $8.3m from FY24 and an interim FY25 dividend of $3.8m.

“FY26 replacement capital expenditure is expected to be flat while total capital expenditure will be significantly higher due to the Te Awaparahi Bay reclamation project,” said Sumner.

Sustainability and environmental performance remain key priorities for LPC.

LPC achieved its solid waste-to-landfill target and is working towards zero solid waste by 2040. This is attributed to the waste champions programme, expanded organic recycling, and a focus on recycling difficult waste streams like PPE.

Building on last year’s release of LPC’s first Nature Disclosures report, this year’s TNFD-aligned report on nature will also include our inland ports, CityDepot and Midland Port.

“To demonstrate our commitment to taking action towards a biodiversity positive goal, we launched a biodiversity road map and are committing resources for the next five years,” said Sumner.

Lyttelton Port Company has successfully met its FY25 goal for reducing Scope 1 greenhouse gas emissions.

Scope 1 emissions, which come from fuel use in vehicles, marine vessels, heavy equipment, and refrigerants, dropped to 8,069 tonnes of CO₂e.

This is a 10.2% decrease from our FY18 baseline and a 7.9% drop compared to FY24.

The reduction was largely due to operational efficiencies in our container terminal, including efforts to reduce idle time in straddle carriers and improvements in container terminal planning.

LPC improved its emissions efficiency, with CO₂e per container moved dropping by 4% since FY24 and 19% since FY18, despite a decline in container volumes.

LPC’s decarbonisation journey would require ongoing capital investment in fleet and infrastructure.

The FY25 results show progress towards LPC’s goal of cutting Scope 1 and 2 emissions by 50% and selected Scope 3 emissions by 30% by 2030.