Port Marlborough Delivers Strong Results in 2024 Annual Report

Port Marlborough has published its Annual Report for the 2024 financial year and has reported a strong performance, demonstrating its continued commitment to supporting regional growth and environmental sustainability. With revenue surpassing $57 million and an EBITDA of $34 million, the port has strengthened its position as a key economic facilitator for Marlborough.

The year saw a significant investment of $26 million in infrastructure projects, up from $15 million in the previous year. These projects included the completion of the Waikawa North West Marina, a purpose-built facility for Westshore Marine boatbuilders at the Waikawa Marine Precinct, the purchase of a new custom-built tug and further investment to the port’s forestry export offering at Shakespeare Bay.

CEO Rhys Welbourn highlighted the significance of these investments. “Our commitment to investing in infrastructure is to ensure we futureproof the port to meet the evolving needs of port customers and our region’s industries,” Welbourn noted.

One of the port’s key achievements over the financial year was the completion and formal opening of the Waikawa North West Marina, which has expanded berth capacity in Waikawa by nearly a third, attracting boat owners from across the country.

“Waikawa North West Marina has brought increased economic activity into Marlborough. Approximately 60% of new berth-holders are from outside the region, which has positively impacted local ancillary and hospitality services”

In addition, significant progress was made in forestry services, with the development of a new debarking facility at Shakespeare Bay, enhancing the port’s ability to meet the needs of the forestry industry while reducing environmental impacts. This investment aligns with Port Marlborough’s strategy to improve operational efficiency and environmental outcomes for the sector.

Environmental stewardship remained a priority for Port Marlborough throughout the year, with the Annual Report published in accordance with Global Reporting Initiative (GRI) sustainability standards. The port continued its carbon reduction journey, with a 12% reduction in net emissions compared to the previous year. The implementation of the Bravegen Carbon Data Management system has been a key step in improving the accuracy and efficiency of emissions reporting, further supporting sustainability goals. Additionally, the port’s subsidiary Marlborough Sounds Marinas achieved International Clean Marina accreditation across its three marinas at Picton, Havelock and Waikawa Marinas.

“I want to thank our dedicated team, trusted partners, and the Marlborough community. It’s their hard work and support that have made this year’s success possible.

Our focus over the year was on making meaningful investments and working carefully on partnership projects to protect the interests of our shareholder and community. We hit some major milestones over this reporting period, including the formal opening of Waikawa North West Marina, the purchase of the port’s new towage vessel Kaiana, and driving environmental improvements including becoming the first marina operation in NZ to achieve the prestigious “International Clean Marinas” accreditation.

These achievements are set to bring lasting benefits to both the region and the industries we support and facilitate. With Marlborough’s long-term success at the heart of everything we do, I’m excited about the year ahead. We have a great team in place, ready to meet both our operational and strategic goals.”

“Overall, we have delivered strong results against our four strategic pillars people, planet, prosperity and partnerships and we are extremely proud to provide a dividend of $4.5 million to our shareholder for the benefit of all of Marlborough.” Welbourn said.

Looking forward, Port Marlborough remains focused on building long-term resilience through infrastructure development, environmental leadership, and maintaining strong partnerships with customers and regional industries. The port’s strategy centres on the support and creation of sustainable growth while it continues to deliver value for Marlborough into the future.

– Revenue: $57m

– EBITDA: $34m, up from $21 million in FY23

– Dividend to Shareholder: $4.5 million – the highest in over a decade

– Infrastructure Investment: $26m, up from $15 million the previous year

– Cruise Industry: 55 ships bringing over 140,000 passengers and crew

– Fleet additions: Kaiana – new purpose-built towage vessel

– Log Exports: 709,353 JAS

– Vessel Movements (over 500GT): 3,160 vessel visits

Annual Report 2024 Link to online publication: LINK HERE

Port Marlborough owns and operates Marlborough’s regional port and is home to New Zealand’s largest marina network, comprising Picton, Waikawa, and Havelock marinas. The port plays a crucial role in facilitating and enabling Marlborough’s economy through industries such as forestry, aquaculture, tourism, and recreational boating. As the main port connection between the North and South Islands, Port Marlborough facilitates vital trade routes and provides essential services for freight, passenger ferries, and cruise ships.

Since 1988, Port Marlborough has returned over $90m to its shareholder Marlborough District Council Holdings Ltd in dividends. Guided by a vision to be an environmentally restorative port, Port Marlborough continues to invest in infrastructure, partnerships, and environmental initiatives that drive long-term sustainability and regional growth.