Port of Auckland records $40.5 million net profit for 2023

Port of Auckland has released its financial results for 2023, recording a $40.5 million net profit after tax.

This year’s profit is a $50.7 million increase on 2022’s result, with overall revenue increasing to $320.2 million, up from $265.3 million last year.

Net debt levels decreased from $449.9 million in FY22 to $407.5 million in FY23.

Port of Auckland puts the strong results down to “established dynamic rostering and introduced salaries for stevedores”, as well as a resurgence in cruise passengers as the industry returned to post-COVID-19 levels.

The port saw a total of 177,297 cruise passengers, 228,588 vehicles, and 818,810 containers enter the country this financial year.

Looking ahead, Port of Auckland plans to dredge its shipping routes through the Hauraki Gulf in order to welcome larger ships in the future.

“The Board is pleased to return an improved dividend to the shareholder, Auckland Council, for the year,” says Chair of Port of Auckland, Jan Dawson.

“We anticipate continued improvement over the next three years as we work towards providing a dividend equal to a million dollars a week in FY26.”

For CEO Roger Gray, he says this year was “transformative” for the port and thanked the team of 774 who made it all possible.

“Regaining our Mana is designed to safely lift performance, deliver returns to our owner Auckland Council, and to rebuild the trust of our people and Aucklanders,” he says.

“There have been substantial efforts and successes in our three focus areas which are reflected in our strong financial results, the transformation of our employee relations, and the safety and wellbeing of our people.”

A full copy of Port of Auckland’s 2023 Annual Report can be found here.