Napier Port IPO

[Sideshow Bob]

I know a HB exporter that is getting containers out to Palmerston North, and then railing to Tauranga. Huge cost to them, but needs must to keep product moving.

[nztx]

https://baybuzz.co.nz/cruise-visitor...ing-to-napier/

Cruise visitors returning to Napier


Who needs rail lines out into the hinterlands with this sort of news ?

Be back up to 3 bucks in no time as soon as Locals see the large cruise decks appearing
on the horizon, dividend, no dividend or a severely butchered one

New Star Attraction - Large Evening BBQ on Newest unused Wharf .. should bring in the crowds
every night .. ample space for thousands in each sitting

Bring your mate, bring your dog, bring the whole whanau, meet the visitors in the newest Napier style
and mingle to take in the views of the Bay's newest confirmed White Elephant

A gold coin or two at the gate to help offset the large interest bill accruing would be really appreciated ..

[nztx]

https://www.nzx.com/announcements/408561

Napier Port Withdraws Earnings Guidance

Napier Port withdraws earnings guidance – Impact of Cyclone Gabrielle


Napier Port (NZX.NPH), the freight gateway for the central and lower North Island, advises that due to continuing uncertainty regarding trade volumes and the extent of any business interruption insurance mitigation, it is taking a prudent approach and withdrawing its FY23 guidance.

Napier Port Chief Executive Todd Dawson said: “Prior to the Cyclone Gabrielle event during 13-14 February, our underlying result from operating activities was tracking towards the top end of our previously reported guidance range. Despite the reduced levels of trading we are currently seeing, we still expect to report an unaudited result from operating activities in the half year to 31 March 2023 in excess of that reported in the corresponding period last year.”

“Following Cyclone Gabrielle we are seeing a resumption in cargo trades, albeit at reduced levels resulting from damage to regional infrastructure and export commodities across the horticulture, agriculture and forestry sectors. Whilst we expect trade volumes to continue to grow as the regional recovery progresses, we are unable to reliably estimate the extent of reduced trade volume on the remainder of this financial year” Mr Dawson said.

Road access continues to open up locally and main trunk rail line services are expected to recommence to Hastings before the end of the month. Cargo normally transported to Napier Port via this rail line from the central North Island is currently being transported via road.

Napier Port resumed full container and bulk cargo operations promptly following the cyclone, having suffered only minor damage. Last week saw the return of cruise ships and the resumption of berth windows for container shipping, previously disrupted during the pandemic.

Napier Port has commenced preparation of a claim under its material damage and business interruption insurance. However, claim preparation and resolution is likely to take an extended period of time and there is no certainty at this stage regarding the financial outcome of any claim.

“We continue to make ongoing assessments and will update the market as we gain greater visibility” Mr Dawson said.

Took the bods at NPH a while to wake up .. wonder who finally realised no trains were coming into Napier ?


must have been quiet without anything rumbling in ..


Perhaps some of the passengers on a Tour Boat on their way through saw broken rail bridges on Awa's toto in the distance ?


might be another puffed up stonk to start sinking into the muck below the inflated $2.60 IPO Extraction cost back in 2019, if insurance doesn't cough up the full quid's worth in good time .. ?

[Ggcc]

In this current economic climate I can see this share dropping to approximately $2 per share or less with the continuation of interest increases. I can't fathom a share which is running at such a high PE and growth is minimal.

[Sideshow Bob]

In this current economic climate I can see this share dropping to approximately $2 per share or less with the continuation of interest increases. I can't fathom a share which is running at such a high PE and growth is minimal.

Especially when guidance is withdrawn, and likely to suffer a drop in volumes, extra costs etc due to the cyclone.

[nztx]

In this current economic climate I can see this share dropping to approximately $2 per share or less with the continuation of interest increases. I can't fathom a share which is running at such a high PE and growth is minimal.

Probably loyal locals & fair few with a holdings stashed in the bottom drawer on register.
Not huge volumes traded, so wont take much to push it south, going by current buy signals.

Wonder what the debt onboard will be costing when rollover time comes along, assuming more
doesn't get added on top ?

[nztx]

https://www.stuff.co.nz/business/131...impact-lingers

Markets Wrap: Cyclone Gabrielle's devastating impact lingers

The impact of Cyclone Gabrielle continues to be felt, with Napier Port’s profits expected to be severely impacted.

Forsyth Barr made significant cuts to its forecast for the port company’s profit this year due to the severe impact of Cyclone Gabrielle on the Hawke's Bay export sector.

“Napier Port's near-term earnings will suffer materially from Cyclone Gabrielle, with its two biggest trades, forestry and pip-fruit, both impacted by the severe flooding event,” Forsyth Barr head of research Andy Bowley said in a report.

Pip-fruit and forestry represent about three quarters of the port’s cargo revenue, which is a higher concentration than other more diversified ports like Port of Tauranga, he noted.

Bowley cut his expectation for Napier Port’s profit by 41% to $12.4 million, reducing his forecast for log exports by 17%, for container exports by 9%, and for cruise ship visits by 20%.

The port company withdrew its earnings guidance last month.

Bowley retained his “underperform” rating on the stock and pulled back his one-year price target to $2.50 from $2.60.

Shares in Napier Port Holdings fell 1.9% to $2.60.

Doesn't look very good for this outfit, freshly kitted up with a very expensive White Elephant in the new wharf .. like a large millstone around it's neck and a further pile of newly acquired Debt ontop.

Presumably ForBarr are onto what is going on or probably what is not going on at NPH


But NPH does have a strong cornerstone controlling stakeholder in the HB Regional Council, don't they ?
- with a Record for Precise and Expert Resource Management and Communication second to none
.. well probably and usually the latter at the time Annual Rates demands and other precision sharpened Levies bills are shot out the door at lightspeed ..


Hang on a moment .. that wouldn't be the same Regional Council which was supposedly monitoring & in charge of region's waterways and may or may not have been peacefully blissfully tucked up asleep while the Cyclone bore down on the region ?


If all turns to custard then the region's ratepayers will probably get done over like a roast dinner
to help pay for the aftermath of the cyclone which was so very well monitored with immediate
Red Warnings slapped on every Gate Post, before the lot promptly got drowned and engulfed
with much washed out to the coast ..



Now back to NPH.. it took them all of a month to withdraw Earnings Guidance after the 15 Feb 23
announcement, But then Half Year Trade Volume were announcement were released
on 6 April 23. Surely there must be some sucker hanging out on The Spit at NPH HQ
who has some idea of what is going through and how it is getting from A to B. ?

That is the lifeblood of NPH's Wharf operation is it not ?

The whole NPH staff still can't be sitting seeing stars and fully cycloned out a further 2 months or so
down the track, or haven't they returned from 'Digging Up Silt' duties ?

Why does it take a Broker's assessment of what is going on while not a further flicker of light, smoke
signal or anything more from the Port's watch tower in way of an update .. the NPH Letterhead paper
still cant be wet surely ?

Is it really that bad that any NPH update need to get deferred for release for another month to
end May ?

As a commercial operation - NPH will or should be getting their volume, activity and financial reports
weekly and monthly for Management purposes as would most NZX listed companies ..

So why the Radio Silence ? only the Rail link out to the south appears to be still out of action.

[nztx]

https://www.nzx.com/announcements/411922

24/5/2023, 8:30 am HALFYR

UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR TO 31 MARCH 2023

NAPIER PORT DELIVERS A STRONG START TO FY23; REGIONAL CYCLONE DAMAGE TEMPERS OUTLOOK


Highlights & LowLights:

- Revenue rose 22.8% to $62.3 million from $50.7 million in the same period last year due to higher container volumes and the return of cruise vessels

- Result from operating activities increased 33% to $21.9 million from $16.4 million in the same period last year

- Underlying net profit after tax increased 3.9% to $7.5 million from $7.2 million in the same period last year. Reported net profit after tax decreased 3.3% to $8.7 million from $9.0 million in the same period a year ago

- The trade impact of Cyclone Gabrielle on full year trade volumes remains uncertain

- Board has resolved to pay a fully imputed interim dividend of 1.7 cents per share, reduced from the interim dividend in the prior year of 2.8 cents per share

Not difficult to beat that level of reduced Div Yield - even with Money in the Bank now

NPH
$2.460
$0.060 / 2.50%

Washed out Rail still out of action from Napier headed south ?

The 6 month first half period probably includes mostly pre Cyclone period trading & just 1.5 months afterwards

The next 6 month period might not look quite as rosy

[Sideshow Bob]

https://www.nzx.com/announcements/414956

Napier Port expects to report an unaudited underlying result from operations for the nine months to 30 June 2023 of $29.1 million, down from the $29.8 million reported for the same period in the prior year.

In addition, Napier Port expects an underlying result from operations for the full financial year to 30 September 2023 of between $34.5 million and $36.5 million.

This guidance assumes normal and uninterrupted operating conditions for the remainder of the financial year.

To date Napier Port has lodged and received acknowledgement of an interim material damage and business interruption insurance claim related to losses following the Cyclone Gabrielle event earlier in the year, but has not yet received any proceeds. The nine-month unaudited underlying result from operations and full financial year guidance provided exclude any insurance recoveries.
The Company will provide a further update on 16 August 2023 with the release of its nine-month interim financial results.

ENDS

[Getty]

Sp trending downwards.

Yes, the cyclone has affected business, but perhaps some of the sellers know about the highly paid ethnic gentleman who is a cultural advisor.

His belief is that a substantial Koha should be paid to Iwi for each vessel that berths at the port.

That the port did not exist in pre European times is of no concern.

I suppose a $10K levy per vessel won't affect competitive edge with Tauranga or Wellington?