Five Year Summary

Financial

Year
2021
$000
Year
2020 Restated*
$000
Year
2019
$000
Year
2018
$000
Year
2017
$000
Operating Income 338,281 301,985 313,263 283,726 255,882
EBITDa** 189,917 165,198 181,270 169,236 152,385
Surplus after taxation – reported 102,375 88,679 100,577 94,273 83,441
Dividends paid related to earnings 84,353 124,486 122,440 115,017 108,893
Total equity 1,396,968 1,195,184 1,165,885 1,121,980 931,943
Net interest bearing debt 477,114 479,435 442,097 399,164 374,816
Total assets 2,081,270 1,848,790 1,748,861 1,657,031 1,422,600
Interest cover (times) 9.3 7.3 8.4 8.0 7.5
Gearing ratio (%)*** 25.5 28.6 27.5 26.2 28.7
Return on average equity (%) 7.9 7.4 8.9 9.2 9.3
Share price ($) 7.03 7.70 6.34 5.10 4.45
Market capitalisation ($) 4,782,274 5,237,414 4,312,098 3,470,964 3,028,586
Net asset backing per share ($) 2.04 1.75 1.71 1.64 1.36

**EBITDa is a non GAAP financial measure but is commonly used as a measure of performance as it shows the level of earnings before the impact of gearing levels and non cash charges such as depreciation and amortisation.  Market analysts use the measure as an input into company valuation and other valuation metrics.

Year
2021
$000
Year
2020 $000 
Year
2019
$000
Year
2018
$000
Year
2017
$000
Profit before taxation 137,009 117,097 135,009 126,386 111,347
 
Net finance costs 16,572 18,530 18,177 18,027 16,771
Depreciation and amortisation 33,998 29,746 27,585 25,269 24,460
Asset impairment 12 0 499 0 0
Asset impairment on revaluation 2,326 0 0 0
Reversal of previous revaluation deficit 0 (175) 0 (446) (193)
Total 52,908 48,101 46,261 42,850 41,038
EBITDA 189,917 165,198 181,270 169,236 152,385

*Refer to Note 15(c)
***Net interest bearing debt to net interest bearing debt + equity

The Board approved a final dividend of 7.5 cents per share ($51.020 million) after year end payable on 1 October 2021.

Operational

Year
2021
Year
2020
Year
2019
Year
2018
Year
2017
Cargo throughput (000 tonnes) 25,738 24,808 26,946 24,458 22,194
Containers (TEUs)* 1,200,831 1,251,741 1,233,177 1,182,147 1,085,987
Net crane rate (container moves  per hour)** 29.7 35.8 32.9 35.5 36.2
Ship departures 1,307 1,515 1,678 1,747 1,651
Berth occupancy (%) 53 45 50 48 47
Total cargo ship days in port 3,072 2,441 2,769 2,643 2,589
Turn-around time per cargo ship (days) 2.05 1.61 1.65 1.5 1.4
Cargo tonnes per ship 19,693 16,291 16,058 14,000 13,442
Average cargo ship gross tonnage (GT) 29,036 33,408 33,920 30,218 29,654
Average cargo ship length overall (metres) 201 207 207 200 199
Number of employees – Port of Tauranga Limited 243 238 230 208 206
Lost time injuries (LTI) – frequency*** 0 2.5 2.5 2.8 2.8
Total injury (frequency rate) 0 2.5 2.5 5.5 5.6

*TEU = Twenty Foot Equivalent Units
**As measured by the Australian Productivity Commission
***Number of lost time claims per million hours worked

Operational data relates to the Parent Company as opposed to the Group.