Five Year Summary

Financial

	Year 2016 $000	Year 2015 $000	Year 2014 $000	Year 2013 $000	Year 2012 $000
Operating Income	245,521	268,460	266,538	244,147	227,242
EBITDa	143,180	145,049	142,565	134,992	128,898
Surplus after taxation – reported	77,314	79,148	78,252	112,123	73,469
Surplus after taxation – underlying	77,314	79,007	78,252	77,228	73,469
Dividends paid related to earnings	72,142	69,419	63,035	63,035	44,258
Total equity	885,684	887,550	812,419	793,878	733,874
Net interest bearing debt	308,420	287,379	254,471	190,787	187,183
Total assets	1,322,367	1,297,018	1,154,883	1,112,581	1,033,878
Interest cover (times)	7.0	7.2	7.8	8.3	8.2
Shareholders’ equity (%)	67.0	68.4	70.3	71.4	71.0
Return on average equity (%)	8.7	9.3	9.7	10.1	10.2
Share price ($)	19.50	17.30	15.45	13.90	11.08
Market capitalisation ($)	2,654,267	2,354,811	2,072,096	1,864,215	1,486,008
Net asset backing per share ($)	6.51	6.52	6.06	5.92	5.47
Underlying earnings per share (cents per share)	56.8	58.1	58.3	57.6	54.8

The Board approved a final dividend of 30.0 cents per share ($40.8 million) and a special dividend of 25.0 cents per share $34.0 million) after year end, payable on 7 October 2016.

OPERATIONAL

	Year 2016	Year 2015	Year 2014	Year 2013	Year 2012
Cargo throughput (000 tonnes)	20,120	20,179	19,737	19,065	18,452
Containers (TEUs)	954,006	851,106	759,587	848,384	796,024
Net crane rate (container moves  per hour) *	35.6	35.5	36.9	34.5	30.6
Ship departures	1,482	1,555	1,612	1,529	1,501
Berth occupancy (%)	46	46	43	40	40
Total cargo ship days in port	2,504	2,528	2,364	2,232	2,189
Turn-around time per cargo ship (days)	1.6	1.6	1.5	1.5	1.4
Cargo tonnes per ship	13,549	12,510	12,921	12,469	12,123
Average cargo ship gross tonnage (GT)	26,665	25,018	24,924	24,641	22,435
Average cargo ship length overall (metres)	190	185	187	187	179
Number of employees – Port of Tauranga Limited	194	193	191	185	169
Lost time injuries (LTI) – frequency **	5.6	2.9	3.1	14.1	5.9
Total injury (frequency rate)	5.6	14.7	3.1	31.0	26.8

* 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.

Dividend Information

The Port of Tauranga’s dividend policy is to steadily increase dividends year on year consistent with Company performance.

Dependent on the level of imputation credits attached to dividends, the Company will pay supplementary dividends to non residential shareholders. Supplementary dividends offset the effect of non-resident withholding tax. Port of Tauranga Limited receives from the Inland Revenue Department a tax credit equivalent to supplementary dividends and there is, accordingly, no disadvantage to New Zealand resident shareholders.

Dividend History

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