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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Port of Tauranga Limited    POT   NZPOTE0003S0

PORT OF TAURANGA LIMITED

(POT)
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Port of Tauranga : and Kotahi Extend Strategic Alliance

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03/25/2020 | 10:08pm EDT

New Zealand's largest containerised freight exporter, Kotahi and New Zealand's international cargo gateway Port of Tauranga today announced an extension to their long-term volume commitment agreement.

The renewed agreement extends Kotahi's commitment to Port of Tauranga for an additional seven years, through to mid-2031. Kotahi manages freight on behalf of more than 40 of New Zealand's importers and exporters, including its shareholders Fonterra and Silver Fern Farms.

Port of Tauranga Chief Executive, Mark Cairns, says the collaboration between the two companies gives the Port the confidence to invest further in expanding its container terminal.

'We look forward to continuing our highly productive relationship with Kotahi,' he says.

Kotahi's Chief Executive, David Ross, says the collaboration with Port of Tauranga has brought significant benefits to New Zealand, including a more sustainable and resilient supply chain with efficient big ships.

'We are delighted to support Port of Tauranga's future development programme with the commitment of cargo volume through to 2031.'

For more information, please contact:

Rochelle Lockley
Communications Manager
Port of Tauranga Limited
Ph: 021 865 884

Belinda Leslie
Belinda.Leslie@kotahi.co.nz
Phone 0275 656 287

Disclaimer

Port of Tauranga Limited published this content on 26 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2020 03:07:02 UTC

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Financials (NZD)
Sales 2020 307 M
EBIT 2020 140 M
Net income 2020 95,8 M
Debt 2020 482 M
Yield 2020 2,21%
P/E ratio 2020 47,6x
P/E ratio 2021 43,7x
EV / Sales2020 16,4x
EV / Sales2021 15,6x
Capitalization 4 557 M
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Mean consensus SELL
Number of Analysts 6
Average target price 4,76  NZD
Last Close Price 6,70  NZD
Spread / Highest target -18,4%
Spread / Average Target -28,9%
Spread / Lowest Target -38,8%
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Managers
NameTitle
Mark Cooper Cairns Chief Executive Officer
David Alan Pilkington Chairman
Leonard Sampson Chief Operating Officer
Steven Grant Gray Chief Financial Officer
Simon R. Kebbell Secretary & Manager-Information Technology
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