Mainfreight Limited/Announcement
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Mainfreight Annual Report for year ended 31 March 2018

Annual Report25 June 2018MFTIndustrials

ANNUAL REPORT 2018
1978 – 2018

WE MAKE IT
matter

WHETHER IT’S LOADING A PALLET OR CREATING
TECHNOLOGY TO MAKE OUR CUSTOMERS’ BUSINESS

BETTER, GETTING IT RIGHT MATTERS DEEPLY

TO ALL OF US AT MAINFREIGHT.

We challenge conventional business practice and

do things in the ways we believe work best.

THIS IS THE ESSENCE of our culture.

Our customers tell us they like the way we do things.

That we ‘get’ what matters to them, and leave

no stone unturned in making it happen.

Doing this with intelligence and commitment

is at the heart of who we are.

Initiative, quality, strong relationships and taking ownership.

Alongside our tangible capabilities, these attributes

are winning us business and fueling our growth.

We make things matter.

3

44

CONTENTS
6

KEY FINANCIAL

ACHIEVEMENTS

8

CHAIRMAN’S

REPORT

12

GROUP MANAGING

DIRECTOR’S REPORT

16

NEW ZEALAND

20

AUSTRALIA

24

ASIA

28

THE AMERICAS

32

EUROPE

36

IN SUMMARY

40

OUR PEOPLE

56

INTENSIFICATION

OF OUR NEWORK

60

MAINFREIGHT

TECHNOLOGY

62

ENVIRONMENT

64

MAINFREIGHT IN

THE COMMUNITY

66

OUR LEADERSHIP

TEAM

72

TIMELINE

74

TARGETS, PROGRESS

& ACHIEVEMENTS

76

CAPITAL

EXPENDITURE

78

CORPORATE

GOVERNANCE

STATEMENT

82

TEN YEAR SNAPSHOT

OF GROWTH

84

DIRECTORS'

REPORT

86

OUR BOARD OF

DIRECTORS

90

OPERATING

STATISITICS

93

INCOME

STATEMENT

94

BALANCE

SHEET

95

STATEMENT OF

CHANGES IN EQUITY

96

CASH FLOW

STATEMENT

97

NOTES TO FINANCIAL

STATEMENTS

123

AUDITOR’S

REPORT

127

STATUTORY

INFORMATION

129

INTERESTS

REGISTER

130

FIVE YEAR

REVIEW

132

GLOSSARY

133

DIRECTORY

NOTICE OF MEETING Notice is given that the annual meeting of shareholders of Mainfreight Limited

will be held at 4.00pm on Thursday 26 July 2018 at the Barrel Hall, Villa Maria Estate, 118 Montgomerie

Road, Mangere, Auckland. Full details, including the Meeting Agenda, are contained in the separate

Notice of Meeting and Explanatory Notes accompanying this report, and are also available on the

Company’s website, www.mainfreight.com or by scanning the QR code to the left.

55

Revenues up 12.2%
EBITDA up 9.0%

A new record in our 40th year

TOTAL ASSETS

$1.38b

TOTAL DIVIDEND

ADJUSTED EARNINGS

PER SHARE

DISCRETIONARY

TEAM BONUS

45.0cps

111.44cps$20.7m

66

REVENUE BY REGION
EUROPE

21.0%

USA

23.3%

NEW ZEALAND

25.4%

ASIA

4.5%

AUSTRALIA

25.8%

REVENUE BY DIVISION

NZ$000

AIR & OCEAN

53,672

AIR & OCEAN

1,031,979

DOMESTIC

161,744

DOMESTIC

1,586,881

EBITDA BY DIVISION

NZ$000

EUROPE

13.4%

NEW ZEALAND

45.8%

ASIA

3.2%

USA

12.5%

EBITDA BY REGION

AUSTRALIA

25.1%

Mainfreight is in the business of global supply chain logistics. Put simply, we partner

with our customers to provide end-to-end freight services including warehousing,

domestic distribution and international air and ocean freight services.

$2.62b

GROUP OPERATING

REVENUE

$215.4m

GROUP

EBITDA

$112.2m

GROUP NET PROFIT

BEFORE ABNORMALS

10.6%

12.2%

EXCL FX IMPACT

7.9%

9.0%

EXCL FX IMPACT

7.7 %

8.8%

EXCL FX IMPACT

KEY Financial Achievements

77

TO OUR MAINFREIGHT TEAMS AROUND THE WORLD, TO THE
LONG-TERM PLAYERS, TO OUR LEADERS – AND UP-AND-COMING

LEADERS – WE THANK YOU FOR YOUR INDIVIDUAL AND

COLLECTIVE EFFORTS IN OUR HUNDRED-YEAR VISION.

BRUCE PLESTED, CHAIRMAN

88

CHAIRMAN’S Report
The adversity in our early years stoked a fire in the belly of Mainfreight which will

never go out. We will always strive for a better company, a better country and a

better world.

March 6th 2018 was the 40th

birthday of our company,

Mainfreight.

It is hard to believe that in 1978

Rob Muldoon was New Zealand’s

Prime Minister, and our new Prime

Minister, Jacinda Ardern, was yet to

be born. Many of our team have not

known a time when there were not

clean, bright, blue and white trucks

all over the world.

In 2019, our company will have been

operating for 30 years in Australia

– our standout country of the year

in 2018, where sales increased by

AU$88,770,000 (16.6%) over the

previous year, and EBITDA recorded

AU$49,922,000.

The financial year resulted in record

sales and profits, achieved after

being behind at the first quarter, and

little more than level pegging at the

half year.

Some numbers of which we are

particularly proud:

>Global sales for the year exceed

$50,000,000 per week, some

$5,500,000 more per week than

the previous year.

>Tax paid for the year is

$45,455,000.

>The discretionary annual bonus –

payable to team members in all

countries in which we operate –

$20,700,000.

As a business we are pleased with

the youthfulness and energy of

New Zealand’s new government.

Given the problems they face, we

are impressed with the speed at

which they are coming to grips, and

we wish them well. It is important

that they move quickly before they

become captured by lobbyists,

pressure groups, and the status quo.

We are often asked what were our

biggest challenges, when we began

Mainfreight in 1978. One of the

biggest challenges was the lobbyists

of the day, crowding the halls of

government and with significant

influence with the Government and

government departments of the day.

We came under immense pressure

from transport departments, trade

& industry, the judiciary, regulatory

authorities – and NZ Railways were

instructed to treat us as a retail

customer.

Of all the good things which the

new 1984 Labour Government gave

us – the best was that the decks

were cleared of lobbyists. Mainfreight

was able to breathe without the fear

that some government department

would cause us to be legislated or

regulated out of existence.

(Think Charter Schools!)

Another good thing which came

from that adversity in our early years

is that it stoked a fire in the belly of

Mainfreight which will never go out.

We will always strive for a better

company, a better country and a

better world.

To our Mainfreight teams around the

world, to the long-term players, to

our leaders – and up-and-coming

leaders – we thank you for your

individual and collective efforts in

our hundred-year vision.

Aroha Nui

BRUCE PLESTED JUNE 2018BRUCCCCE PLESTEDJUNE 2018

9

100 YEARS
from now, matters

HOW WE MEASURE OUR PROGRESS

Every day our teams around the world are consciously creating a 100-year

company. To us, building a strong and enduring business matters more than quick

wins. We have never wavered from our long-term vision or cultural beliefs.

Forty years on, we still hold ourselves to account across the same key areas:

10

OUR PEOPLE
Attract and retain individuals who ‘get’ our

purpose and entrust them to grow our unique

culture and values.

OUR CUSTOMERS

Make decisions which contribute to the overall

success of our customers’ businesses.

QUALITY

Over-deliver on quality and initiative. Measure

and continuously improve the quality of our

performance daily.

GROWTH

Grow and intensify our global network. Think

bigger and bolder. Identify and secure customers

who trade globally and fit our business.

LONGEVITY

Think next decade, not the next quarter. Cultivate a

business which future generations will be proud of.

100

YEARS

11

RECORD GROWTH PROVIDES US WITH THE CONFIDENCE
TO CONTINUE INVESTING IN OUR NETWORK, IMPROVING

OUR FACILITIES AND GROWING OUR PEOPLE.

DON BRAID, GROUP MANAGING DIRECTOR

1212

GROUP Managing Director’s Report
Our quality and service commitment continues to engage the support of our

existing customer community, and attract new customers.

Our financial results for this past year

are satisfactory, with sales revenues

improving 12.2% to $2.62 billion (up

10.6% excluding foreign exchange

impact), an increase of $285.27

million; EBITDA up 9.0% to $215.42

million (up 7.9% excluding foreign

exchange impact), and net profit

before abnormals at $112.22 million.

All these results are at levels never

before achieved by the business,

and as such are indicators of our

continued success.

Importantly, this growth provides

us with the confidence to continue

investing in our network and

expanding to more countries, to

ensure our growing customer base

has consistency of quality and

efficiency across their supply chains.

Our quality and service commitment

continues to engage the support of

our existing customer community,

and attract new customers. To

maintain that service commitment,

our people require very good

facilities across all three core

categories of our business: Air &

Ocean, Logistics (warehouses) and

Domestic Transport (cross-docks).

And so, never ones to do things by

halves, we have 38 land and building

projects, leased and owned, which

are currently underway or planned.

Thirty-eight developments across the

world (most of them new rather than

replacements), bringing improved

facilities, intensification of our

network, and ongoing growth, as we

dedicate resources to accommodate

the increasing demand from our

customers.

Our customised facilities assist

our people to provide high-quality

services. To also achieve efficiency

across the supply chain, our teams

require our sites to be located across

the world, in multiple cities within

each country, and in some cases

in several locations within a city,

ensuring pick-ups and deliveries

are made quickly and in the most

direct way.

The intensification of our networks is

a core strategy, along with a desire

to offer customers high-quality

logistics services utilising all three of

our business products: Air & Ocean,

Logistics and Transport.

2018201720182017

2,618,860

2,333,591

112,219

103,164

MAINFREIGHT GROUP

OPERATING RESULTS NZ$000

Group Net Profit

before Abnormals

Group

Revenue

REVENUE

12.2%

13

GROUP Managing Director’s Report CONTINUED
Our commitments to infrastructure, people and our network all come at a cost,

but importantly are all investments in the future of our Company.

Wherever possible, we aim to

assist each customer with their

international imports or exports, with

managed third-party warehousing,

and with their final mile distribution.

In our Air & Ocean business, we

focus strongly on those trade-lanes

that are within our own network, a

strategy that brings better quality

control for our customers, and

delivers growth and profitability

for the business. In addition, we

are making a concerted effort in

all regions to assist our customers

with consolidations of smaller LCL

consignments for both import and

export freight, again retaining control

over quality.

Whilst e-commerce transactions are

on the rise across most retail sectors,

we continue to focus on our core

freight business, dominated by food,

beverage, DIY and FMCG products,

all requiring freight and logistics

services. The majority of e-commerce

transactions require courier-type

services, and when we have Logistics

(warehouse) customers with these

transactions, third-party courier

companies are subcontracted to

provide the final mile delivery on

our behalf. Regardless of expected

e-commerce growth, there is plenty

of traditional freight volume and

opportunity in all the regions we

currently operate in, and likely those

we have yet to get to.

Our 2018 financial result, once again

a record for Mainfreight, comes

on the back of the extraordinary

efforts of our people across all 247

branch locations in 22 countries. It

should not be underestimated how

their levels of energy, passion, and

commitment to our cultural beliefs

and disciplines, have created this

result and prepared the business for

further growth and expansion.

We also remain committed to

investing in our people, giving them

the skills and experience to take on

more significant roles. It is they who

determine how good our levels of

service are for our customers.

In New Zealand and Australia, we

have always paid above the minimum

and living wage levels, however we

have chosen to further lift salaries

for those at the lower end of our pay

range, with an additional boost over

and above our usual annual salary

increase this year.

These commitments to infrastructure,

people and our network all come

at a cost, but importantly are all

investments in the future of our

Company. We continue to take a

long-term focus, believing we have

a business well equipped for the

next 100 years.

14

Steven Pavitt – Sydney, Australia and Sebastian Novak – Frankfurt, Germany.
15

NEW ZEALAND TOTAL NZ$000
Transport, Logistics and Air & Ocean

EBITDARevenue

2018201720182017

666,156

609,238

98,633

91,021

NEW ZEALAND

Our New Zealand operations continue to surprise us with their exceptional energy,

enthusiasm and commitment to find further growth in what is, by the standards

of our other locations, a small logistics market.

Despite the ongoing effects of the

Kaikoura earthquakes of November

2016, where inter-Island freight links

to and from the South Island were

restricted to road line-haul and

weekly coastal shipping services,

our teams have delivered another

very satisfactory result.

New Zealand sales revenue improved

by 9.3% to $666.16 million. EBITDA

performance improved 8.4% to a

record $98.63 million. Most evident

during the year has been the

promotion of all our core products to

our customer base, seeing increased

revenue levels across all three

categories. This is only possible when

our customers have the confidence

in our services to entrust their full

supply chain requirements to one

operator.

Our Logistics business increased

its warehouse footprint to 145,000m

2

,

with capacity for 150,000 pallets,

with an average utilisation rate

of 85% for the year. New facilities

were established in Christchurch to

offset the earthquake disruption to

existing supply chain models, and

additional sites have been identified

in Auckland, Tauranga and Hamilton

to cater for further growth.

Our Transport division is under the

greatest pressure. Congestion at our

sites in Auckland, Tauranga, Rotorua,

Palmerston North, Wellington, Nelson

and Dunedin is proving those facilities

inadequate to cope with increasing

tonnage from existing customers as

the New Zealand economy continues

to find growth, let alone cope with

the expected volumes from new

customers. Land is being, or has been,

sourced in all these areas enabling

new facilities to be built to address

the current levels of congestion.

In addition, with a desire to intensify

our New Zealand network, regional

areas like Whakatane and Levin

are being considered for branch

locations.

Our 99-year land lease arrangement

with Mangatawa in the Bay of Plenty

is a significant step, and will allow

us to construct and operate our

largest regional freight facility yet.

Unfortunately the lack of rail-serviced

land in the region limits our ability to

move much of our freight by rail into

and out of the area, however we see

good growth potential in the Bay of

Plenty and our other regional centres.

Unique to our New Zealand operations

is our Mainfreight 2Home business

unit, where we are able to enter the

e-commerce freight market, providing

freight deliveries to the homes of

our customers. The opportunity

to replicate this in other markets,

particularly Australia, is available to

us as our capability increases.

In the Air & Ocean division, we have

recorded increased airfreight and

seafreight tonnage across both

imports and exports. The opening

of our new Christchurch operation

brought our airfreight and seafreight

teams into one custom-built location.

The growth of perishable exports in

the past year has been the strongest

we have seen, and we will continue

to develop this sector and extend our

service capability to our other regions.

REVENUE

9.3%

16

North-bound freight loading at Picton, New Zealand.
17

NEW ZEALAND
18

32 YEARS WITH MAINFREIGHT
REGIONAL FOCUS:

Our greatest challenge is managing our own

growth as we control, coach and embed our

cultural philosophies. This is what separates

us from our competition.

Air & Ocean and Logistics form an integral part

of the network intensification initiative. They

complement the Domestic business footprint

and enable the Group to make a much more

integrated service offering.

STRATEGIES TO DELIVER:

We are striving to be a more inclusive business.

Through encouraging team input across the

board and investing more in our operational

teams, we are seeing a wider contribution

to solving our day-to-day challenges.

The expansion of our network facilities –

both current and planned – motivates us

to fill the additional capacity being created.

THAT WE CONTINUE TO ENHANCE OUR IMAGE AND REPUTATION,

IN EVERY COMMUNITY, TOWN OR CITY WE SERVICE, THROUGHOUT

NEW ZEALAND AND THE WORLD.

CRAIG EVANS, COUNTRY MANAGER, NEW ZEALAND

IT MATTERS to us

19

It is clear that our commitment to
quality, the investment in substantial

facilities throughout the region, and

our very motivated team of people

have generated these improved and

very satisfactory returns.

Our expectations are that current

levels of growth are able to be

maintained, therefore our capital

investment in new land and buildings

across Queensland, New South Wales,

Victoria, South Australia and

Western Australia will continue in the

short-term in an effort to provide

appropriately-sized facilities to cope

with the logistics and distribution

tasks that are in front of us.

We have asked our Transport teams

to explore ways to provide freight

distribution services across a variety

of modes, rather than depending

solely on road line-haul. It is obvious

to us that rail and coastal freight

services will become a necessary

part of our modus operandi, as

we continue our expansion

throughout Australia.

New Transport branches for Bendigo,

Toowoomba and Wollongong, will

expand our reach into regional

Australia, and our eyes are now on

Tasmania and Far North Queensland.

In our Logistics business, new

facilities in Melbourne, Sydney and

Perth will add a further 52,000m

2


to our warehousing footprint, and

increase pallet capacity to 187,100

pallets. Dedicated hazardous goods

facilities are amongst the new sites

and will complement the growth

of our Chemcouriers (specialist

hazardous goods transport) brand

around Australia.

Wharf cartage operations, through

our Owens brand, have had

considerable success requiring new

facilities in Melbourne and Brisbane

to cope with their expanding freight

volumes. As well as servicing their

external customers, Owens provides

delivery and pickup services to our

Air & Ocean division for their import

and export seafreight containers.

In our Air & Ocean division, sales

growth has been satisfactory, yet

below the levels of growth achieved

in Domestic Transport and Logistics.

Higher levels of growth are expected

as we leverage the benefits of our

international network, particularly

from Europe. Dedicated perishable

freight facilities across the three main

eastern seaboard cities complements

our already strong position in this

category in New Zealand. Success

here in Australia will allow us to

consider the same perishable

airfreight strategy across the balance

of our Air & Ocean global network.

As with all parts of our Air & Ocean

network, there is a considerable

focus on improving our LCL

seafreight capabilities, and further

increasing the consolidation of

smaller airfreight consignments on

behalf of our customer network.

It is those LCL categories that

provide important export and import

opportunities that often come with

a higher margin in what is a very

competitive sector.

AUSTRALIA TOTAL AU$000

Transport, Logistics and Air & Ocean

EBITDARevenue

2018201720182017

623,765

534,995

49,922

42,315

AUSTRALIA

This is the best ever financial result for our Australian operations, with all three

divisions recording improved sales growth. Revenue increased by 16.6%, up $88.77

million, with EBITDA ahead 18.0% or $7.61 million.

REVENUE

16.6%

20

Georgia Warner – Epping, Australia.
2121

15 YEARS WITH MAINFREIGHT
REGIONAL FOCUS:

We are excited and focused on building our

sales growth and profit momentum into the

future. For this to be possible, improving our

quality, or more specifically, delivering our

customers’ products safely and on time, is

our primary commitment – every day.

STRATEGIES TO DELIVER:

Encouraging the instinctive behaviour of our

team to always find ways to solve problems

and produce consistent quality is central to our

strategy. We are working hard to provide the

physical facilities and create the environment

that encourages and rewards our people to

perform better.

THAT OUR ENERGISED, AMBITIOUS TEAM CONTINUES THE SALES

AND PROFIT MOMENTUM AND BUILDS ON 2018’S RECORD EBITDA.

RODD MORGAN, COUNTRY MANAGER, AUSTRALIA

IT MATTERS to us

AUSTRALIA

22

23

While revenue levels have continued
to increase, up 32.4% over the

prior year to $83.86 million, our

EBITDA performance was our

poorest on record, declining 21.5%

to $4.91 million.

Much of the sales revenue increase

came from non-intercompany

trading; when intercompany

revenue is included, overall sales

improved 12.1%.

Senior management changes

mid-year and a back-to-basics

approach to our business in the

region has seen this EBITDA decline

reversed during the final three

months of the financial year, and

importantly we continue to see

improvement as we head into the

new financial year.

Cary Chung, a Hong Kong national

and resident, who was educated

in the United States, has taken

leadership responsibility for the Asia

region. He previously headed up

our business in China, and before

that held the role as Regional Sales

Director. It is his skill and passion

for sales that is shaping our

direction in this important freight

and logistics market.

For too long, we have failed to

take full advantage of the size and

scale of opportunity that this region

offers. Asia is also a key component

in our global trade-lane network

with all our other regions having

substantial freight volume into and

out of the region.

Southeast Asia and Japan, where

our footprint currently is minimal,

are high on our agenda for future

expansion. This becomes possible

where our divisions in our other

locations control the freight into and

out of these countries – similar to the

way in which we have been able to

develop our UK and Italian air and

ocean operations.

ASIA TOTAL: US$000

Air & Ocean

EBITDARevenue

2018201720182017

83,861

63,351

4,905

6,245

ASIA

REVENUE

32.4%

It is our intention to focus solely on developing our Air & Ocean product in Asia for

the short to medium-term. Thus allowing capability, both financial and operational, to

grow before entering third-party logistics, warehousing and domestic transportation.

24

Lisa Yuen and Fannie Tsang – Hong Kong.
25

7 YEARS WITH MAINFREIGHT
REGIONAL FOCUS:

We are building a stronger Air & Ocean division

here in Asia through effective commercial

activities and by having our team focusing

within the Mainfreight network.

STRATEGIES TO DELIVER:

We are committed to change and the

change is clearly controlling our own destiny.

Our leadership team across 19 branches

with 347-strong Asian team members are

all empowered and dedicated to doubling

our size in the next five years.

THAT WE CONTINUE TO INVEST IN OUR TEAMS AND PRODUCTS –

BOTH ON THE GROUND AND IN THE AIR – ENABLING OUR CUSTOMERS

TO EXPERIENCE OUR COMMITMENT.

CARY CHUNG, REGIONAL MANAGER, ASIA

IT MATTERS to us

ASIA

26

27

AMERICAS TOTAL: US$000
MAINFREIGHT USA, CANADA

AND MEXICO AND CAROTRANS

USA AND CHILE

Transport, Logistics and Air & Ocean

EBITDARevenue

2018201720182017

436,742

436,357

19,235

18,585

THE AMERICAS

The Americas region offers some of our biggest opportunities. An improving

EBITDA performance up 3.5% to $19.24 million provides ongoing confidence, albeit

requiring patience as we establish a stronger foothold across all four divisions.

Mainfreight

The Transport division is well into

developing an expedited LCL freight

network utilising our own owner

drivers and pick-up and delivery

(PUD) vehicles, particularly focused

on the six large cities of Los Angeles,

Houston, Chicago, Dallas, Atlanta

and Newark. Whilst our network

of 22 branches provides broader

geographical coverage, these six

larger cities provide strong LCL

freight volume. Gaining customers

here will enable the full branch

network to advance further over time.

Our Logistics (warehousing) division

has recently had a number of new

customer gains, and has increased

its warehouse footprint from

49,000m

2

to 59,000m

2

, providing

storage capacity for 57,600 pallets.

Logistics operates in five of the

six large cities serviced by our

Transport division, with Houston

still to be established. Customer

enquiry continues to develop as

the quality of our facilities, people

and technology outweighs that of

our competitors in this sector. Our

customers are more than likely small

to medium-sized businesses rather

than big box retail customers.

The Air & Ocean business has also

secured customers that trade across

our international network, and has

benefited from our global Air &

Ocean strategies, including LCL

freight consolidations to and from

Asia, Europe, Australia and

New Zealand.

Whilst our results from the Americas

are not at expected levels of

profitability, improved EBITDA results

for the second half of the year

provide confidence that we are on

track to progress our capability in

this important market.

CaroTrans

The wholesale seafreight arm of

our business, CaroTrans, has

progressed well with new leadership,

emerging with a well-defined

strategy to improve quality and

become more customer-focused

at branch level. Profitability is not

yet back to pre-2014 levels, but our

expectations are high that we have

a restructured business with better

focus, capable of achieving

its targets.

Christopher Wilson, a US-resident

born and raised in Michigan, has

taken the leadership responsibility

for CaroTrans in the Americas.

Christopher’s skill and passion for

sales will assist our organic growth in

this sector. Recruitment of logistics

graduates has replenished our future

leader program and rejuvenated our

branch management team.

Decentralisation of accounting,

cash collection and profit and loss

responsibility sees Mainfreight’s

culture and disciplines redefine

this division.

The relationship with Mainfreight’s

Air & Ocean division has improved,

with procurement on ocean freight

benefiting.

We are now able to see a bright

future for CaroTrans and once again

it will become a key feature of our

American business.

REVENUE

0.1%

28

Joe Freemon – Chicago, USA.
29

20 YEARS WITH MAINFREIGHT
REGIONAL FOCUS:

We must continue to build on the foundations

achieved in previous years. Our desire is to

have all branches in profit with strong sales

pipelines to deliver our goals; to continue the

development of our future leaders; to instill

our culture and disciplines into our work

practices every day.

STRATEGIES TO DELIVER:

Build a business that is continually improving

– in quality, sales, line-haul and consolidation

programmes. Ensure our teams are well trained

and have confidence to make decisions locally.

Our team will seek new challenges, supporting

each other as we develop services for our

customers.

THAT OUR TEAM RETAINS RECENT MOMENTUM AND CAPITALISES

ON THE SIGNIFICANT POTENTIAL OF OUR MARKET.

JOHN HEPWORTH, REGIONAL MANAGER, AMERICAS

IT MATTERS to us

THE AMERICAS

30

31

In light of prior year disappointments,
this is good progress, as we find our

feet within the European region and

look with more confidence towards

future development.

Investment to improve our

warehousing capacity from 329,000

pallets across six sites, to 387,200

pallets across seven sites, will provide

sufficient infrastructure to meet the

demands of new customer contracts

that have been gained across

Belgium and the Netherlands.

It is expected that EBITDA levels

for our Logistics division will remain

flat during the next 12 months as

we absorb the development

and moving costs for these new

warehouses. Once utilisation and

efficiency gains are made, we expect

the Logistics division to return to

ongoing profit growth.

Two new cross-docks for our

European Forwarding division in

Ghent and Genk in Belgium will assist

utilisation, providing better location

and access to the freight corridors

of the Belgian industrial areas.

It is expected that these facilities,

coupled with an intensive sales focus,

will provide significant improvements

in our Belgium Forwarding

profitability. As our European freight

tonnage increases, so does our

desire to implement more direct road

services to and from more countries

within the region.

The Air & Ocean business has

performed well over the past

twelve months, once again taking

advantage of our global network

and in particular benefiting from

increased trade with our American

interests. Asian freight volumes have

been slow to develop, however the

management and strategy changes

made in Asia will see a renewed

focus across these trades. As with

our other Air & Ocean divisions,

a strong focus on LCL sea and

airfreight consolidations will provide

a core strategy for smaller import

and export customers.

The benefit of controlling

freight volumes from both the

United Kingdom and Italy has

seen these two new operations

contribute significantly to our

revenue and profit growth very

early in their formation. Adopting a

similar approach for other countries

will allow us to speed up network

development.

We continue to grow more

comfortable with our European

operations and their ability to

capitalise on the opportunities

available to us. Our customer base

here, on average, has considerably

larger volumes and is more likely

to be involved in global logistics

decisions, than other regions.

As our reputation and capability

increase, many of those large global

customers are in discussion with us

to provide logistics support for them

in our other regions.

Our European team’s ready

acceptance of our culture and

operational disciplines, and

the improvement in financial

performance, led us to begin the

process of rebranding to Mainfreight

last year. We expect to have this

completed by end of 2019.

EUROPE

Improving momentum in our Logistics and Air & Ocean divisions has seen a

good increase in sales revenues, up 15.0% to ¤335.77 million and an improvement

at EBITDA level of 3.1% to ¤17.71 million.

EUROPE TOTAL EU¤000

Forwarding, Logistics, Air & Ocean

EBITDARevenue

2018201720182017

335,769

291,927

17,713

17,179

REVENUE

15.0%

32

Karina Zborowska – ‘s-Heerenberg, The Netherlands.
33

EUROPE
11 YEARS WITH MAINFREIGHT

REGIONAL FOCUS:

Our focus hasn’t changed and remains firmly

on the recruitment, training and development

of exceptional people who understand the role

they play in helping their branch to achieve the

potential that sits within its market.

STRATEGIES TO DELIVER:

We continue to strengthen our network, and

as it intensifies, so too does the inter-network

activity that feeds subsequent parts of the

business, either within or between the divisions.

A relentless focus on improvement – be it

quality, efficiency, sales growth or IT will enable

us to strengthen results, branch by branch.

THAT OUR FUTURE LEADERS TRULY UNDERSTAND

OUR OPERATIONS AND ARE EQUIPPED TO MAKE DECISIONS

BASED ON KNOWLEDGE AND EXPERIENCE.

BEN FITTS, REGIONAL MANAGER, EUROPE

IT MATTERS to us

34

35

The decisions we have taken during
the year to further invest in our

business, intensifying our network

and developing facilities big enough

to cope with our growth for years

to come, have been significant. We

expect to invest in excess of $200

million in capital expenditure on

land and buildings that we will own,

over the next 24 months. In addition

to this, a number of new leased

sites are also providing necessary

infrastructure for our future.

These investments, along with

our already considerable network,

will ensure our people are able to

provide the quality services and

supply chain logistics expertise

that our growing list of customers

requires.

Such investments in infrastructure

do not come without risk and an

associated increase in overhead

costs. We have full confidence in

our team of people across the globe

to counter these increases with

improving sales, finding efficiencies,

and by delighting our customers.

There is little doubt that our strategy

of concentrating on Mainfreight to

Mainfreight trade-lane development

is increasing our market share in

international freight. Establishing

Mainfreight offices is proving

far more effective than relying

on agency relationships in other

countries. It safeguards quality

standards, provides momentum for

increased growth and provides our

customers with transparency and

continuity in service levels.

Our goal is to continue to extend

our global footprint and where an

opening arises, we will take the

opportunity to establish ourselves in

more countries; usually via our Air &

Ocean business, where our control of

freight flow allows for quicker entry

and more sustained growth.

We continue to be excited and

confident of our development and

growth into the future.

It remains a lot of fun.

DON BRAID JUNE 2018

IN Summary

The financial performance of the past year has been yet another highlight in our

journey to create a globally-capable supply chain logistics business; a fitting tribute

to our 40

th

year in business.

3636

Kevin Jackson and Oliver Morrison - Railway Lane, Auckland, New Zealand.
3737

THE EXPANSION OF OUR FACILITIES GLOBALLY,
ACCELERATES OUR NETWORK GROWTH

EXPONENTIALLY.

We are focused on locating our facilities where our customers need us

to be. Not only does this increase our physical network capabilities,

it enables us to extend the range of services we provide, aligning us

with their supply chain goals.

Through expanding our own infrastructure we retain more freight within

our network and in turn, control quality and service.

IT’S ALL ABOUT MORE CUSTOMERS

doing more business with us.

INTENSIFICATION

matters

38

39

These people may not be industry
stalwarts with years of experience;

often they have just finished university

or school. They are, however,

motivated and hardworking people

interested in a career, not a job. And

they are guided and mentored by

our industry veterans; our passionate,

loyal Mainfreighters. All these, new and

experienced, are our special people.

The success of our business is

measured by the perception our

customers have of the service we

provide. This perception relies on

the service performance of our

people worldwide. Technology has

shrunk the global market whereby

our customer’s perceptions are

now garnered from any, and all,

interactions with our team. A

phone call in Napier or an order

picked in Chicago can contribute

to the customer’s perception of

our services in Italy. Delighting our

customers has always had cultural

significance but now more than

ever it has a strategic significance;

our customers’ businesses may be

spread across multiple countries, but

they now view us as a single service

provider. Our challenge remains to

delight them – everywhere.

We delight our customers by

getting the small things right: the

local person answering the phone,

not a machine; the immaculate

presentation of our buildings and our

people; and by developing our team

members to be more professional,

committed and personable than our

competitors’.

What will never change is our

approach to where a career starts.

Those outside of Mainfreight may

consider starting on the operational

floor as the “down and dirty of

moving freight from A to B”. Those

inside Mainfreight have learnt this

is the only way to understand the

intricacies of what, and who, our

business is. To understand the pace

we work at and the necessity to

make immediate decisions to service

our customers worldwide.

Our challenge is for our people to

be thinking globally and beyond

the country in which they are

based. In line with this thinking

we continue to focus on creating

global developmental touch

points affording our team real life

experiences to work and learn

together. Be it a team member

from Shanghai spending time at

Outward Bound or a branch swap

from Hamilton to ‘s-Heerenberg we

constantly look for opportunities

for our team to connect. It is this

exchange of ideas and cultures

which will continue the spirit of

innovation and creativity our

company has grown from. Moreover

it endorses the global career paths

available to our team.

Our success over the past financial

year has elevated Mainfreight as

a place where more people want

to launch their careers. Students

are starting at university with the

ultimate goal of securing a position

with Mainfreight. Many of these

are women who no longer see

this business as just for the boys.

Our young women are moving

into leadership roles utilising their

intelligence, their perspective

and their judgment.

Our decentralised management

structure sees branch managers

across all 247 branches play a major

role in decision-making, with profit

and loss responsibility. Thirty-seven

of these managers are women; not

yet enough, but growing year on year.

Our challenge is to evolve and grow

without losing the essence of who

we are and what makes us a special

company. The outcome of this

challenge will be a continued focus

on the small things in front of us

alongside a focus on the horizon

ahead.

Health & Safety

The responsibility for creating

and maintaining a safe working

environment rests with us all. This is

illustrated through our commitment

to quality facilities and equipment;

to quality people and processes; and

by our culture which facilitates input

and ownership from every team

member at every level.

Around the world our approach

towards the health and safety of

our team has been to educate and

identify risks – and to rely on each

and every team member to act

in a safe and responsible manner.

Incidents and accidents are recorded

and reported, and through our

Positive Action Team (PAT) meetings

our teams are given both the forum

and the tools to improve their work

environment. It is this engagement

with our team worldwide that helps

in addressing health and safety

concerns and allows for hazards

to be identified and, where

possible, mitigated.

OUR People

Every day our enthusiastic and energetic team members are putting on steel-capped

boots or logging into their workstation, filling one of a myriad of roles in our business.

40

Vanessa Bogdanovic – Epping, Australia.
4141

OUR PEOPLE HAVE ALWAYS BEEN THE CUSTODIANS
OF OUR CULTURE AND QUALITY. AS WE EXPAND

AROUND THE WORLD, CONTINUING TO DEVELOP

THEM AND TO UNDERSTAND THE BUSINESS THROUGH

THEIR EYES, IS MORE IMPORTANT THAN EVER.

Whether it’s loading freight or leading a country, we each have

unique experiences and insights. Every one of us has a role to play

in the quality, health and longevity of our 100-year vision.

Growing our people in our way cuts across all regions

and all areas of the business and it starts from the ground up.

TEAMWORK AND LEADERSHIP

start on day one.

OUR PEOPLE

matter

The inaugural Main Divide Project saw 12 members of our loading

team traverse New Zealand’s rugged Southern Alps. These people

are the backbone of our business. Through this challenge they

cemented friendships, and in sharing their insights and experience,

also strengthened their commitment and understanding of their

role in our success.

42

Jareth Wong, Isi Kaliopasi, Luke Paine, Nathan Ngametua-Smith, Na Raihania, Martin Devereux, Kayne Newman,
Levi Harris, Nukutawhiti Mano, Luke Hiroa, Trevor Chambers, Callum Field, Watson Kauvalu.

43

OUR AMBITION
HAS NEVER

BEEN

stronger

Since beginning in 1978, we’ve grown from a two-man band to a

global tribe of over 7000. In this our 40th year, we salute those

Mainfreight family members past and present, who have helped

us on the journey. Our people have always had both personal

ambition and ambition for the business. As these two collide,

both our people and our business have prospered.

On these pages we celebrate the 7,532 current team members who

not only keep our operations running every day; they are also the

guardians of our culture, quality and reputation.

OUR PEOPLE REMAIN

our most important asset.

44

40
of

YEARS

MAINFREIGHT SPIRIT

ENERGY, AMBITION,

COURAGE, COMMITMENT,

GENEROSITY, FUN

AND TRUE BLUE

45

NEW ZEALAND CAROTRANS
AUCKLAND

Joshmitha Amin, Joshua

Chellatamby, Brian Chen, Kelly Chen, Cameron

Couper, Belinda Dodge, Lionel Fernandes,

Seth Freeman, Nidheesh Gangadharan, Henry

Hawkins, Jamie Henderson, Steve Hendry,

Ara Jeong, Jonathan Lee, Appanna (AJ)

Manduda, Katrina Nathan, Lisa Pirangi,

Douglas Robbie, Kamylle Rubin.

CAROTRANS

CFS AUCKLAND

Dale Abernethy, Joseph

Bell, Mike Dunn, Jaedon Gasgoigne, Norm

Gasgoigne, Bjorn Kelly, Michael Keresoma,

Robert Leaupepe, Brent Marks, Phillippa

Matthews, Wiremu Rice, Serge Thomas,

Christopher Vaiangina, Raewyn Vela, Brett

Whitehead, Juliet Whitham, Roland Williams.

CAROTRANS CFS CHRISTCHURCH

Simon Cowper, Darren Jerard, Kitt Taylor.

CHEMCOURIERS AUCKLAND Kevin

Aldridge, Ivan Alofa, William Callaghan,

Dale Cameron, Nikesh Chhana, Mari Cooper,

Emily Cox, Karla Crawford, Gerhardus (Gerry)

Engelbrecht, Kat Fatamaka, Safo Fatamaka,

Roydon George-Thomas, Henry Gould,

Caitlin Harvey, Kohine Henare, Luke Matthew

Hiroa, Mason Howearth, Noel Hughes, Hans

Huisman, Isi Kaliopasi, Alice Kavet, Conway

Keilman, Michael Keith, Raymond Kendall,

Nagendra Kumar, Iulieta Leafa, Michael Long,

Apiuta Malua, Chris McKenzie, Trevor Mitai,

Jason Mouat, Nigel Mouat, Allan Murray,

Michael Neale, Frisco Ng-Lam, Sonny Noble,

Mark Pakuru, Kishor Patel, Unnati Patel, Janet

Ropati, Harpreet Singh, Karamjit Singh,

Paramveer Singh, Clinton Smith, Aaron

Somerset, Gail Street, Greg Stringer, Metera

Te Aonui, Brenton Te Rehu, Mickey Tenamu,

Michael Thomas, Barry Thompson, Noa Tohi,

Kini Toloa, Danny Tuivaiave, Sosaia Nomani

Tupou, George Ulutaufonua, Francois Williams,

Phoebe Williams, Andrew Woolliams, Sylvia Xie.

CHEMCOURIERS CHRISTCHURCH Chris

Dawson, Rey Dela Cruz, Chris Donaldson, Alex

Hubers, Graham Jackson, Chelsea Kay, Grant

Kilty, Jason Knauf, Jack O’Hara.

CHEMCOURIERS WELLINGTON Tama

Coker, Deborah Paul, Rodney Warsnop.

DAILY

FREIGHT AUCKLAND

Kalapu Alaelua, Faiyaz

Ali, Fazeel Ali, Mumin Ali, Josiah Alofa, Arthur

Atoaga, Allan Aufai, Antonio Aufai, Tolua Aufai,

Altaf Baba, George Backhouse, Taimur

Badhniwalla, Russell Barry, Matt Cagimaivuna,

Martin Cannon, Ashutesh Chand, Raghu

Chinchalker, Zhen Tao Chung, Ian Cox, Jim

Cullen, Tracy Curtis, Khushroo Daruwalla, Steve

Davis, Chetan Desai, Sangeeta Devi, Saurabh

Dhamija, Sidney Ene, Clinton Faamausili, Inoke

Fifita, Wilson Fitikefu, Lydia Fohe, Sivihiva Fohe,

Timothy Gage, Joshua Gibbs, Rakesh

Goundar, Rynal Goundar, Surya Gounder, Elliott

Gutry, Tevita (David) Hala, Ronnie Halagigie,

Martin Hamilton, Aimee Harding, Upul

Hettiarachchi, Gavin Holm, Malcolm Holm,

Efaraima Ieti, Junior Ili, Lenny Jones, Ivan

Josephs, Harjeet Kahlon, Max Kaleopa, Tevita

Kaliopasi, Anaru Karena, Eden Kato, William

Katu, Watson Kauvalu, Murray Kendall, Lionel

Knox, Jashneel Kumar, Yasbeen Kumar,

Katalina Latana, Roger Leckner, Osvaldo

Letelier, Meleseini Liuanga, Tenisi Liuanga,

Tawhiri Mahara, George Manu, Rita Marsh,

Corey Marshall, Eddie Marshall, Hanna

Matthews, Shasta Mishra, Petty Mistry, Asif

Mohammed, Dana Mokalei, Taukatelata Ofa,

Junior Opapo, Talau Paila, Jayshree Patel,

Manoj Patel, Saurabh Patel, Phillip Payne,

Virginia Payne, Baxter Pepe, Anroth Pratap,

Shane Pullen-Burry, Armani Rajan, Kumar

Rajan, Zidane Rajan, Daniel Riddell, Lloyd

Rivers-Smith, Tua Ropati, Jordan Sa’u, Vincent

Saulo, Roy Savage, Veta Savage, Jatin Shah,

Anith Sharma, Wesley Siakumi, Bali Singh,

Gurdev Singh, Gurpreet Singh, Himmatveer

Singh, Jai Singh, Jaswant Singh, Jatinder

Singh, Lakhbir Singh, Lesley Smith, Michaela

Smith, Mike Smith, Peter Smith, Warwick

Smith, Jese Sovatabua, Michael Tapper,

Tauaese Tauaese, Brisbane Taufa, Andy

Taunga, Daniel Teu, Jonevan Togiamana,

Manulua Toilalo, Tusi Toloa, Tasa Topou,

Richard Tovia, Bernadette Tufuga, Jennifer Tuhi,

Teresa Tuhi, Kena Tuhua, John Tui, Piutau

Tuitupou, Mosese Tupa, Joseph Tuputala,

Ivan Turangakino, Kaleb Turangakino, Joseph

Tutuila, Fred Ulberg, Vosa Vaihu, Quintin Waite,

Sheryl Waite, William Weekes, Zoe Wilkinson,

Alfred Williams, Logan Williams, Hayden Young,

Ubaid Zahidani.

DAILY FREIGHT

CHRISTCHURCH

Sheik Ali, Rebecca Baxter,

Anthony Beazley, Skye Bogle-Cracknell, Isobel

Bowman, AJ Bradley, Phillip Brosnahan,

Beverley Canovan, Paul Chatterton, Harry

Clinton-Baker, Roberta Davids, Robin Davids,

Susan Davies, Craig Dixon, Craig Dunphy, Will

Gillespie, Joshua Green, Victoria Harwood,

Ross Hawken, Iain Henderson, Levi Hibbert,

Thomas Hira, Amaru Hutchins, Porto (Vaughan)

Keefe, Abbey Kirk, Shane Kupfer, Angus Lowe,

Brittany McGill, Sam Mitchell, Tom Morgan,

Harry Morris, Sam Morton, Steve Moule, Jayne

Munslow, Ajeet Nahal, Nikki Oliver, Kataraina

Peeti, Tahi Poasa, Tara Price, Tony Ringdahl,

Kate Roach, Bhagwant Singh, Jagdeep Singh,

Jaspreet Singh, Navjot Singh, Navreet Singh

Bindra, Mandeep Singh Gill, Gurinder Singh

Mann, Steve Smith, Craig Stewart, Carl

Stringer, Kim Tallott, Jacob Taurua, Ngarui

Taurua, Tamas Taurua, Tamati Thomson, Mark

Tomlinson.

DAILY FREIGHT /

CHEMCOURIERS HAMILTON

Joe Brickland,

Jenny Cliffe, Neil Douch, Kawana (Seymour)

Hemara, Son (Edward) Hemara, Tom Kumitau,

Manase Lavemai, Andre Paladin, Ernest Tauai,

Jodi Vaughan.

DAILY FREIGHT

WELLINGTON

Peter Ansell, Barry Bellamy,

Sam Ede, Seila Fiso, Rukua Kavakura, Paul

MacCormack, Steve Marsh, Adriano Mello,

Michelle Mikara, Ahu Moeahu, David Priestley,

Graham Ralston, John Salanoa, Ron Satherley,

Lynette Sinden, Phil Tamatea, Gordon Tobin,

Alex Walters.

MAINFREIGHT ASHBURTON

Ross Butler, Glenda Donaldson, Christopher

Frost, Yvonne Kirdy, Barry Linwood, Shea

Rainey, George Taylor.

MAINFREIGHT

AUCKLAND

Hannah Abraham, Wiki Abraham,

Jon Absolum, Maree Adams, Tevita Afu,

Mohammed Ahmed, Kevin Aldridge, Mahamed

Ali, James Avery, Emanu Avua, Fazeel Basha,

Shameem Basha, Prakash Bechan, Hayden

Bell, Shailesh Bhuthadia, Michael Bing, Wayne

Birch, Beau Birtwistle, Don Braid, Jagjeet Brar,

Jugsir Brar, Kym Brett, David Brown, Hohepa

Brown, Wynyard Brown, Trudy Burt, Alex

Campbell, Rex Campbell, Vania Chalmers,

Shamal Charan, Jeremy Chin, Yvonne Chissell,

Milan (Jnr) Cihak, Milan (Snr) Cihak, Ana

Cihakova, Renata Cihakova, Bryan Clark,

Dianne Clemens, Paul Cole, Antonio Collings,

Scott Collings, Catherine Collins, Kevan Collins,

Martin Cook, Nikki Cooper, Simon Cotter, Larry

Coulter, Edward Creedy, Rob Croft, Robert

Croft, Hazel Crosbie, John Dash, Connor

Deadman, Martin Devereux, Chris Drader, Kevin

Drinkwater, Cory Duggan, Alan Edwards,

Katarina Ene, Nina Ene, Craig Evans, Christina

Ewe, David Fainu’u, Jennifer Farr, Felix

Fotunga, Nehu Freeman, Paul Freeman,

Joshua Garland, Kevin Gee, Carl George,

Narsheer Gill, Josh Gillespie, Simon Glenn, Neil

Graham (In Memoriam), Jonathan Gravatt,

Mitch Gregor, Helen Harden, Mohammed

Hassan, Joshua Haunga, Josh Hawkins, Yi He,

Mona Hellens, Alfred Hetaraka, Boris Hirawani,

Emmet Hobbs, Charlotte Hoeft, Brett Horgan,

Carl Howard-Smith, Quinnton Hubbard, Lesley

Huia, Connor Hull, Graeme Illing, Matt Irvine,

Chris Isaia, Emma Jackson, Tom Jane,

Ramandeep Jawanda, Jonathan Judge, Fred

Kalman, Emma Katavich, Melanie Katu, Nic

Kay, Clinton Kewene, Abdul Khan, Erica Kim,

Sonia Kippenberger, Michael Kokaua, Chandre

Koole, Sonal Kumar, Lowrance Lal, Omeksh

Lal, Reelesh Lal, Shawn LamSam, Mark Lane,

Wilson Li, Esmond Lum, Migle Mackay, William

Mackie, Kris Maddaford, Samrat Main, Nitesh

Mani, Sarah Mann, Corina Mareela, Robert

Mareela, Glenn Matthews, Vaughn McDonald,

Andrew McKenzie, Rachel McKenzie, Junior

Meatuai, Bryan Mogridge, Riaz Mohammed,

Dennis Morar, James Morgan, Oliver Morrison,

Max Muaulu, Dionn Munro, Chicago Nairn, Lui

Naoupu, Millie Neioti, Alan Neithe, Mark Antony

Nisbett, Zedekiah Nuku, Lucy Owen, Luke

Paine, Maureen Paine, Vitolio Palu, Chris Park,

William Parkinson, Kate Parsons, Mayurkumar

Patel, Israel Paul, Tom Paul, Maurie Phillips,

Bruce Plested, Karl Pomare, Queleah Pompey,

Adrianne Pongi, Shayne Porter, Bimal Prakash,

Avikash Prasad, Richard Prebble, Rowan

Preston, Craig Radich, Na Raihania, Cameron

Reibel, Keith Robb, Robert Robertson, Jason

Rogers, Sir Don Rowlands (In Memoriam),

Mohammed Saheem, Raman Saini,

Vickram Saini, Mohammed Saleem, Anil Sami,

Georgina Sanders, Tarlochan Sarai, Alex

Sawyer, Glenn Searle, Carol Selwyn, Nawar

Shamas, Harpreet Shran, Vavega Siliga,

Carolyn Sim, Donna Sim, Harry Sima, Michelle

Simmons, Anmol Singh, Armanpreet Singh,

Arpandeep Singh, Gurinder Singh, Gurpreet

(Sunny) Singh, Hardeep Singh, Jaswinder

Singh, Mohan Singh, Narinder Singh, Rajneet

Singh, Ranjeet Singh, Resham Singh, Navi

Singh Sidhu, Junior Sipeli, Severe Sipeli, Julie

Slessor, Dansey Smith, Regan Somers,

Amandeep Sran, Kendal Stratford, Jason

Street, Hassanjit Sumra, Sheena Symons, Sjarn

Tagoai, Jah-Milla Taitin, Jamane Tarau, Tuaine

Tarau, Phillip Tasmania, Mele’ana Taufa, Mike

Taufa, Sifa Taukaka, Suzanne Taunton, Noreen

Taurua, Moana TeWhetu, Norm Teio, Sue

Tindal, Anthony Tipene, David Tolson, Paul

Tolson, Taylor Tolson, Kevin Tram, Joe Tuala,

Lee Tuimauga, Matangi Tukiuha, Paul Tupaea,

Malcolm Variava, Alex Vatau, Ana Vuetibau,

Karen Vuetibau, Stuart Wallace, Hayden Walls,

Maurice Watson, Mellissa Wearing, Matt

Wedding, Daniel Wells, Michael Whitehead,

Wayne Whitiora, Debbie Williams, Rob Williams,

Tim Williams, Scott Wilson, Jareth Wong,

Hamish Woods, Laurie Wright.

MAINFREIGHT

BLENHEIM

Murray Batchelor, Steven Davey,

John Falconer, Kendra Gill, Lily Graham, Peter

Jones, Janet Landon-Lane, Christopher

Mealings, Scott Pickering, Andrew Pillans,

Rhonda Pillans, James Poulter, Amanda Sanft,

Shane Smythe, Murray Snowden, Ainsley

Speak, James Thompsett, Murray Wallis,

Shane Wood.

MAINFREIGHT

CHRISTCHURCH

Natalie Armstrong, Nicolas

Aubrey, Darren Bernhardt, Philip Black, Debbie

Blackburn, Blair Bradbury, Dean Buick, Craig

Burberry, Chad Chamberlain, Donald

Chamberlain, Rhys Chamberlain, Egon Chmiel,

Dennis Christmas, Rhyl Cole, Sara Cole, Alicia

Coles, Robin Cook, Sue Cook, Anja Crawford,

Michael Crawford, Lorryn Dalzell, Sally Dalzell,

Nathan De Lautour, Kelly Dean, Megan

Delaney, Joseph Devine, Owen Donald, Jessie

Eastmond, Harry Ewing, John Ferguson, Grant

Forbes, Sarah Garriock, Finn Gilbertson, Steven

Grace, Mike Griffiths, Elijah Hapi, Tyler

Hodgkinson, Russell Jackson, Mike Jeffery,

Reuben Jeffery-Butler, Desiree Jones-Jackson,

Wiona Lawson, Carolyn Lee, Patrick

McGillivray, Robert McGillivray, Marcus

McLintock, Laurie McMahon, Neil McRobbie,

Colin McTurk, Jacob Middlemiss, Bob

Murdock, Mark Nicol, Connor Oberndorfer,

Ashton O’Neil Morel, Isaac Parore, Chris

Radford, Geoff Radford, Brodie Reid, Darryl

Reid, Ian Reid, Cody Reynish, Cody Reynish,

James Rickard, Julianna Rickard, Tracey

Rickard, Hannah Robertson, Liam Robinson,

Brett Rodgers, Jenna Rowe, Kieran Rowe, Sam

Sayeed, Ben Sharp, James Sheehan, Amrinder

Singh, Jaswinder Singh, Jatinder Singh,

Kawalbir Singh, Sarwan Singh, Josh Smith,

Wendy Smith, Lachlan Stanley, Robin Suhag,

Lindsay Thomas, Sridhar Thutkuri, Shilpa

Vangapali, Russell Waters, Desirae Watkins,

Jason Woods, John Wright.

MAINFREIGHT

CROMWELL

Paul Arras, CJ Bilcliffe, Polly

Black, Celia Cowien, Hayden Elwarth, Max

Finau, Amrit Gossal, Clark Hegan, Melissa

Horn, Cassandra Hunt, Janal Johnston, Jayden

Kennedy, Zarik Khan, Diane McAuliffe, Hayley

McAuliffe, Grant McDonald, Nathan

McEldowney, Yvette McLennan, James

McMeekin, Paula Perkins, Sami Rutherford, Jeff

Saunders, Sindy Shanks, Bhagwant Singh,

Hawinder Singh, Trevor Smith, Tim Stewart,

Rosslyn Todd, Hamish Wilkinson, Paul Wright,

Teryle Yates.

MAINFREIGHT DUNEDIN

Nathan Anderson, Alf Bell, Janine Blanc, Jeff

Blanc, Kris Blanc, Nerrissa Blanc, Tim Brasier,

Lenny Brisbane, Jeff Bryant, Barry Clark,

Graeme Clark, Brendan Clyne, Greg Colston,

Richard Cowan, Adam Crashley, Wayne Day,

Wietske de Groot, Melanie Duggan, Rex

Edwards, Jason Eyles, Patrick Folimatama,

Emma Forscutt, Carl Gardner, Joseph

George-Alleyne, Stephen Gibb, Kyle Grayston,

Fiona Guildford, Trevor Gutsell, Barry Hanson,

Meghan Hatley, David Hoatten, Graham Hunter,

Ross Hunter, Brett Johnston, Paul Johnston,

Kamm Kawau, Melissa Kawau, Matt Keane,

Yvonne King, Jared Kwiat, Andrew Laurie,

Stephanie Laurie, Jeremy Lee, Simon Lewin,

Chris Marsden, Grant Matthews, Leah Maxwell,

Carter McAuliffe, Brett McCaughan, Kenneth

McCutcheon, Doug McElhinney, Mark

McElhinney, Ryan McLean, Doug Melrose,

Simon Mowat, Alana Mutch, Corey Patterson,

Cameron Power, Yoland Power, Lenny Rankin,

Chris Rigby, Lillie Rohan, Vaughan Rohan, Tony

Russell, Derek Saville, John Scott, Pat Smith,

Steven Smith, Zinzan Smith, Evan Steel, Robert

Stout, Brendon Todd, Brendon Turner, Warren

Turner, Ryan Van Der Lem, Frank Watson, Jade

Whalan, Robert Whalan, Kelly Wilson, Lindsay

Wilson, Rick Winklemann, Geoffrey

Woods-Bryan, Heath Woollett, Zhaviar Woollett.

MAINFREIGHT GISBORNE Peter Archibald,

Eru Campbell, Lisa Gillies, Tony Gray, Danny

(Rick) Hohipa, Rangi Kahu, David Kahui, Wayne

Lee, Rob Madden, Bridgette McKay, Dave

McLauchlan, Elaine McLauchlan, Margaret

Muir, Anthony Ngaronoa, Daniel O’Neill, Jamie

Pilcher, Eliza Poingdestre, Wayne Poingdestre,

Mike Rutherford, Mark Simon, Sally Taylor, Ken

Whitehead, Damian Wikotu, Ben Williams,

Malcolm Wilson Wilson, Vanessa Wilson.

MAINFREIGHT GREYMOUTH Simeon

Clarke, Wayne Dalzell, Jozef Grimes, Andrew

Havill, Russell Hines, Matt Ilton, Moana

Johnsen, Michael Knipe, Keith Lavery, James

Lee, Scott Lemon, Jamie McGeady.

MAINFREIGHT HAMILTON Dekota Adams,

Ashley Andersen, Shaun Atkinson, Jimmy

Baker, Patrick Barton, Richard Bassett,

Ashleigh Blair, Robert Bryers, Bianca Burge,

Kirwan Carter, Steve Carter, Ashnil Chand,

Darren Clark, Ricky Clark, Barry Clifford, Phillip

Coleman, Jordan Cox, Krystella Crawford,

Thaila Crawford, Christina Dalgety, Scott Davis,

Ezra Day, Paora Dennis, Raana Dennis, Randall

Dennis, Ray Dixon, Allan Duncan, Gavin

Duncan, Daniel Earney, Donna Everaarts,

Nikolette Fahey, Paul Fahey, Ross Fitz-John,

Jesse Folkerts, Mele Fonua, Phil Frost, Shaun

Goodwin, Wayne Goodwin, Jocelyn Gordon,

Justin Gower, Khushal Goyal, Arthur Green,

Melanie Greenbank, Jhudge Gregory, Jimmy

Gregory, Hayden Grocott, Andrew Hall, Jaimee

Hall, Jordan Halse, Janette Hasen, Arthur

Hayes, Tracey Hayes, Craig Heerdeger, Darcy

Hemara, Charles Heremia, Aubrey Hicks,

Carlos Hicks, Nathan Hobart, Tony Holes,

Mary-Jane Hona, Anna Irwin, John Irwin,

Maurice Jarrett, Mathew Jessop, Murray Johns,

Kayla Joseph, Kevin Judge, Andrew Kaan,

Kiran Kaur, Denise Kearns, Karyle Kenny, Vicky

Kerapa, Harjinder Khatkar, Haami Kingi, Amy

Knuth, Phillip Koopu, Dayna Krippner, Murray

Lasenby, Denis Laws, Brian Lawson, Joshua

Lewis, Michael Lucas, Julie Anne Madden,

Darrell Madsen, Richard Manuatu, Peter

Manutai-Esau, Ethan Martell, Francis Maxwell,

James McBride, Peter McIntyre, Richard

McLaughlin, Toby McLean, Karen McLeod,

Luke Metekingi, Simon Mills, Whetu-Moses

Miringa, Amittai Mita, Fiona Moore, Nathan

Morton, Richard Mountney, Kobi Nicholson,

Marie Oliver, Barry Palensky, Tom Parker, Tuariki

Plowman, Mark Poata, Anne Marie Pratt,

Shane Pratt, Nicola Preston, Fabian Purcell,

Lawrence Purchase, James Rangionehi, Sanjay

Reedy, Tannyin Reeves, Colin Richardson,

Darren Richardson, Jeanna Richardson, Robb

Ridle, Vaughn Sargent, John Scandlyn, Debbie

Schollum, Rajpreet Sidhu, Gagandeep Singh,

Hanmanpreet Singh, Hardeep Singh,

Harmanpreet Singh, Daniel Sitivi, Karen Smith,

Shaun Smith, Darrel Stevens, Mike Stockley,

Sam Sullivan-Laws, Tangaroa Taara, Beau

Taipari, Trudy Te Aho, Frank Te Wani, Andrew

Thoreson, Jackson Tito, Grant Toms, Joanna

Troughton, Raymond Tucker-Hoogstraten,

Marcus Tumai, Dave Underhill, John Van Der

Hulst, Kristie Wade, Stuart Wallace, Bridget

Walsh, Paula Watts, Tyne Watts, Brendon

Webster, Jacob Weherua, Daniel White, Robert

Wichman, Steven Wildbore, Craig Wilson,

Martin Wilson, Piko Wineera-Hemara.

MAINFREIGHT INVERCARGILL Roy Algar,

Jackie Buckley Gray, Ally Burns, Ricky

Cockburn, Dean Cribb, Frith Elias, Ian Garrick,

Jason Gray, Renee Manaena, Nathan McKay,

Stephen Monaghan, Annette North, Debbie

Palfrey, Dean Reynolds, Harry Reynolds,

Nathan Reynolds, David Searle, John Searle,

Kelly Thorburn, Ross Wells, Jeanette Williams,

April Woods.

MAINFREIGHT KAITAIA Steven

Holloway, Hine Perry, Kurt Tahu, Tunney

Thrupp.

MAINFREIGHT MASTERTON Issac

Carswell, Bob Dougherty, Nicholas Garner,

Andrea McCafferty, Shane McDougal, Glenn

Murphy, Gary Strang.

MAINFREIGHT MOUNT

MAUNGANUI

Hannah Abbott, Alan Allport,

Eric Ashe, Colin Belk, Richard Benseman, Carl

Bergersen, Adrian Betterton, Troy Bidois, Brent

Brosnan, Rob Bull, Greg Camenzind,

NZ

Anthony Chadwick, Darren Chadwick, Dean
Chadwick, Lance Chadwick, Stu Clarke, April

Corbett, Richard Currie, Caitlin Darby, Marise

Davis, Dipak Dayal, Frazer Edwards, Wayne

Ellis, Jayemi Emery, Neville Emery, Peter Flett,

Kylie Foreman, Raymond Fraser, Jordan

Golding, Paul Grimes, Kayla Hansen, Yana

Heath, Alex Herd, Ray Hewlett, Craig Hine,

Hirini Houia, Joshua Jane, Mark Jones, Kherry

Kharound, Troy Krom, Jitender Kumar, Tevita

Mafileo, Debbie Martin, Morgan Matehe, Dylan

Mcshane, Marcel Milner, Tane Morgan, Bryce

Murdoch, Rick Ngatai, David Nicol, Delcie

Oliphant, Wayne Powell, Chris Reti, Jerry

Robinson, Mark Robinson, Jessica Rolleston,

Lindsey Rund, Bickram Sangha, Bevan Scott,

Charanjit Singh, Prince Singh, Ranjit Singh,

Leroy Smith, Courtney Stevenson, Melissa

Stevenson, Keegan Stewart, Thomas Tapetulu,

Kelvin Teasdale, Lee Tuhura, Chris Webb,

Maurice Webb, Schirelle Wildbore, Clive Wilson,

Michael Woodham, Tracey Wright.

MAINFREIGHT NAPIER Mark Balhorn, Kelly

Barnett, Jeff Chapman, Alastair Ching, Kaylene

Corin, Clayton Cuttriss, Ashton Davis, Jordan

Dougan, Samuel Gallagher, Fraser Garnett,

Shane Gilmour, Tui Haami, Daniel Hodson,

Adam Jackson, Grant Jarden, Jason Kennedy,

Zachary Leeman, John Mackay, Lesley

Matheson, Andrea Mill, John Montgomery,

Henare Morton, Wayne Mullins, Kaye Ngapera,

Kerryn O’Neill, Sean O’Neill, Fee Orviss, Jenny

Pedersen, Gerard Phillips, David Quickenden,

Brent Redington, Scott Russell, Glen Scott,

Darryn Scurr, David Storey, Noel Stubbs,

Deepak Verma, Craig Walker, Shannon Wano,

Julian Ward, Bill Whyte, Chad Whyte, Andrew

Wickham, Heath Zachan.

MAINFREIGHT

NELSON

Kwaid Ah-Hoi, Tui Ball, Craig Barron,

Paul Brown, Jeremy Carston, Manu Crosbie,

Shannan Donker, Chris Edwards, Dan Edwards,

Darryl Farmer, Charlotte Gordon, Carmen

Graham, Ray Gregory, Aimee Groome, Craig

Groome, Rochelle Holland, William Holland,

Mark Hughes, Tracey Hughes, Wesley King,

Shaun Mana, Glen Markland, Nick Max, Ruby

Morrison, Ronald Pawson, Leigh Rout, Rohit

Saini, Michael Savage, Bill Simmiss, Graeme

Towns, Pam Waddington, Neil Watson, Brett

Yates, Steve Edgar, Stu Kemp, Stu McKenzie,

Jaiden Van Dyk.

MAINFREIGHT NEW

PLYMOUTH

Nathan Bain, Gareth Bridger, Jess

Burkhart, Paul Cottrell, John Davidson,

Jonothan Davies, Cori Delves, Shannon

Emmerson, Aaron Farley, Peter Graystone,

Simon Harris, Joseph Horo, Benjamin Leaf,

Steve Longstaff, Cody Mason, Reuben Mason,

John McKenna, Cody Miller, Kayne Newman,

Joel Paki, Rick Payne, Scott Peters, Lane

Powell, Daniel Rona, Marcus Russ, Tracey

Schroeder, Steven Short, Tony Smith, Caeten

Streat, Josh Treneary, Michael Tunnicliffe, Kellie

Whale, Cara Young.

MAINFREIGHT

PALMERSTON NORTH

Benny Barr, Angela

Batt, Neil Bryant, Forbes Campbell, Michaela

Caulton-McNabb, Trevor Chambers, Henare

Cunningham, Brett Cuttle, Peter Darroch,

Simon Dean, Sara Devonshire, Paul Foxall,

John Fraser, Marsh Graham, Suzan Graham,

Nasoni Hawea, Jordan Henare, Vanessa

Johnson, Archie Kauri, Finn Kearns, Tuhi

Kimura, Rex Lambert, Hayden Little, Stacey

Luke, Tipu Luke, Michael Mackley, Pita

Marshall, Rebecca McBride, Ross McDonald,

Kevin McDougal, Justyn McQuade, John

Mitchell, Tracey Mitchell, Keith Mudgway,

Michael Newton, Daniel Pamata, Scott Payne,

Leon Pirake, Ray Prideaux, Brock Radich,

Stephen Ralph, Etu Rongotaua, Jamie Sanson,

Monique Sanson, Matthew Sherlock, Preet

Singh, Raja Singh, Vijay Singh, Nathan Smith,

Wendy Stewart, Josh Stimpson, Bryan Taiaroa,

Jaxson Taylor, Albert Tovio, Jason Waho, Peter

Waho, Temau Waho, Chelsey Watson-Fryer,

Nicole Will, Jackie Williams, Andrew Young.

MAINFREIGHT PARAPARAUMU Nicole

Graham, Greg Howard, Craig Quinlan, Andrew

Rankin.

MAINFREIGHT ROTORUA Ricky

Bishop, Madison Blank, Manasa Bole, Gregg

Conning, Anthony Curtis, Louise Day, Gary

Dunseath, Dave Farrell, Kane Fitzpatrick, Carl

Gage, Tony Gallagher, Leonie Gardiner, Chris

Hall, Barbara Harrison, Benjamin Jenkins,

Raena Lacey, Jordan Lilley, Talya Macredie,

Kerry Maxwell, Aaron McMahon, Perry Nicoll,

Ranginui Nicoll, Sonny Nicoll, Mark Print, Emily

Sime, Varinderdeep Singh, Luke Skipwith,

Jackson Smith, Travel Taura, Matthew

Thompson, Ted Torrey.

MAINFREIGHT

TAUPO

Jodie Andrews, Sam Box,

Ricco Healey, Jerry Horo, Nick Hyde, Jenny

Payne, Alexander Savopoulas, Brendan Smith,

Kapi Tupe, Johnny Wanoa, Bossy Wanoa.

MAINFREIGHT THAMES Lisa Dickey, Jade

Durrah, Samantha Hana, Ryan Kennedy, David

McGruer, Kiu Muller, Lance Paul, Nicholas

Powell, John Reynolds, Marcus Taipari, Ash

Wearing, Chris Wearing, Mark Wearing, Vern

Wright.

MAINFREIGHT TIMARU Greg

Anderson, Michael Armstrong, Nigel Blackler,

Sandra Breen, Simone Brett, Kelly Cabrel,

Jarrid Cooper, Hollie Duncombe, Dave Ennis,

James Hay, Lisa Howey, Geoff Kerr, Murray

Kippenberger, Juliet Kippenberger, Nathan

Kippenberger, Renee Le Lievre, Andrew

Liversey, John Lyon, Kevin McElhinney,

Cameron Milne, Jordan Moore, Melissa Nolan,

Tyler O’Leary, Ryk Ormsby, Matthew Russell,

Shannon Sim, Kingsley Simpson, Brooke

Wilkie, Craig Wilson.

MAINFREIGHT

WELLINGTON

Craig Armstrong, Jonah

Aumua, Lee Bailey, Gurinderpal Bajwa, Sarwan

Banwait, Sarah Bennison, Rocky Betham, Ian

Black, Andre Boyte, Dempsey Broad, Martyn

Bryant, Daniel Bullimore, Annabelle Carpenter,

Scott Carson, Sean Clark, Te Ariki Coker, Sam

Collier, Paul Connolly, Max Cottle, Matt Dalton,

Harry Davey, Isaac Davis, Ellie Dennis, Richard

Devine, Kasey Downs, John Edgar, Paul

Fincham, Pouevalu Fiso, Tatjiana Fiso, Kate

Godley, John Graham, Phillippe Guerin, Mark

Hales, Matthew Haskell, Anna Hastie, Pat

Henderson, Scott Hilder, John Holton, Daryl

Hutchinson, Jamal Idris, Clayton Ikenasio, Peter

Jackson, Leon Jahnke, Cody Jefferies, Chris

Jordan, Daniel Jupp, Jacob Kelly, Maresa

Kilepoa, Renee King, Josh Kinvig, Sean Love,

Alex Macdonald, Scott Matuschka, Richard

Maxwell, Mike McAlister, Robert McGrath,

Leslie Mendoza, Liam Menheere, Raeden

Mikara, Stephen Miles, Herini Moeahu, Lorna

Moeahu, Scott Newman, Hanipale Nouata,

Dean Piper, Greg Piper, Paula Piper, Kristy

Powell, Lee Puepuemai, Graig Quinlan, Tai-Paul

Rerekura-Tamaiva, Dennis Reynolds, Amanda

Roberts, Paul Roberts, Scott Roberts, Connor

Rocard, Michelle Romaine, Kaitao Rota, Kendra

Rowe, Andrew Schofield, Alastair Scott, Tracey

Scurrah, Pisa Seala, David Sherborne,

Bikramjeet Singh, Harsimran Singh, Manjit

Singh, Tyler Slobbe, Shane Smith, Jade Soliga,

Nicholas Sommers, Maree Stephen, Sola Tanoi,

Gordon Tanis, Rios Taramai, Louise Taylor, Greg

Te Kura, Stuart Thorn, Zion Upton-Mahan,

Chayna Va, Tau-Pao-Pao Va, Harnek Varn,

Carla Vega Barrientos, Barbara Vincent, Bob

Vincent, Ross Ward, Joshua Watson-Holmes,

Aimee Wicht, Haedyn Wicks, Alex Williams,

Eddie Yako.

MAINFREIGHT WHANGANUI

James Albert, Jared Barrow, Innes Campbell,

Daryl Edmonds, Macey Hart, Preston Heremia,

Lyn Johnston, Bass Kane, Ricky Katene, Jason

Kibblewhite, Mathew McMillan, Ratana Tane.

MAINFREIGHT WHANGAREI Kasandra

Albert, Kayne Armstrong, Chase Ashby, Manon

Austin, Todd Beehre, Jim & Heather Bond,

Brendon Boyte, Rebecca Brady, Steven

Cameron, Simon Cauty, Calvin Deboer, Chris

Francis, Owen Gilchrist, Brendon Harris, Levi

Harris, Tim Hayward, Duane Herbert, Josh

Hoek, Ben Hyde, Willie Karena, Pieter

Lambrechts, Tepa Littin, Ross Macdonald, Sam

Mather, Gavin McCleary, Craig McKenzie, Allan

McQuinn, Jason Morgan, Isaac Parore, Ngakau

Paul, William Paul, Logan Pole, James Poulson,

José Restrepo, Pacey Richards, Kevin Roberts,

Clifford Ryan, Ben Shortland, Zak Sinclair,

Sandeep Singh, Wayne Stacey, John Steele,

Kimi Tae, William Tae, Dave Tarawa, Philip

Tepania, Kylie Tulloch, Phillip Tulloch, Graham

Waite, Melissa Wendt, Daryl Whautere, Te Hau

Whautere, Jamie Williams, Joseph Yearbury.

MAINFREIGHT AIR & OCEAN AUCKLAND

Imitaz Ali, Kevin Ann, Behnaz Bahmani, Darren

Barboza, Mark Belfiore, Matthew Beveridge,

Kirsty Bristol, Sonya Buckle, Penelope Burt, Liz

Castillo, Todd Chandler, Wilsyn Chang, Tracy

Cleven, Dylan Colbert, Christine Cullen, Jeremy

Davis, Flavia Derbyshire, Sean Dillon, Shane

Douglas, Mei-Ling Faitau, James Gatley,

Victoria Gelmi, Leslie Ge-Pan, Mark Glover,

Canoe Halagigie, Manu Halagigie, Shannon

Hegan, Stefanie Henry, Daniel Huo, Jan Hustler,

Richard Ioane, Jason Kim, Leo Kim, Kura Kiria,

Tarryn Lanner, Catherine Le Vert, Emily Liang,

Anu Manga, Kane Michalick, Lisa Mitchell,

Christian Moral, Simona Nelisi, Phillip Nelson,

Sarah Olo, Davis Palmer, Lex Paulo, Benjamin

Pearson, Joel Pereira, Daniel Plested, Amanda

Pritchard, Juliet Qiu, Rachael Richardson, Paul

Riethmaier, Karen Roberts, Robert Samuels,

Sonny Sarwara, Harmandeep Singh, Rashni

Singh, Charlie Sionetuato, Karen Smith, Nicky

Smith, Georgia Staddon, Elle Stewart, Nicole

Taaffe, Giovana Tabarini, Cathy Takiwa, Arwen

Tao, Patrice Temanu, Celia Tepania, Andrew

Thomson, Steven Tooley, Robert Tucker, Iki

Vaka, Raju Vegesna, Ye Wang, Antoinette Ward,

Annette Webb, Jessica Williamson, Joanne

Wright, David Zhao.

MAINFREIGHT AIR &

OCEAN CHRISTCHURCH

Nicole Andrews,

Andrew Atkinson, Derek Black, Kevin

Coman-Wright, Hayden Cook, Oliver Dimmick,

Lydia Evans, Cameron Godfrey, Paul Hale,

Michael Louth, Jason McFadden, Julie McIlroy,

Jason Newton, Matt Newton, Lydia Nuttall,

Jacinda Potts, Michell Riley, Sarah Robb,

Hamish Robertson, Dennis Rowe, Joel Stuart,

Karen Waltham, Helen Watson, Alana Wheeler,

Elaine Wong.

MAINFREIGHT AIR & OCEAN

DUNEDIN

Tracey Burrell, Jeffery Foster, James

Morrissey, Teresa O’Connell, Richard Will, Mark

Willis, Paul Wilson.

MAINFREIGHT AIR &

OCEAN HAMILTON

Charles Day, Albertine

Gerrand, Ben Good, Carmen Hadfield, Greg

Waylen, Amber Woodward.

MAINFREIGHT

AIR & OCEAN MOUNT MAUNGANUI

Margie

Brunton, Duncan Byron, Cheryl Chye, Nada

Gvozdenovic, Carol Kennedy, Robyn McCarthy,

Georghia McFeteridge, Linda Mitchell, Andrew

Mole, Kyran Pierce, Julie Scott, Jo Smart,

Shane Williamson.

MAINFREIGHT AIR &

OCEAN NAPIER

Levi Kroot, Monique Peary,

Michelle Stevenson, Krystel Strachan, Melinda

Thomson.

MAINFREIGHT AIR & OCEAN

NELSON

Jessica Hitchman, Megan Lockie,

Belinda O’Donoghue.

MAINFREIGHT AIR &

OCEAN NEW PLYMOUTH

Ed Gafney, Jill

Sorensen, Brendon Wylde. MAINFREIGHT

AIR & OCEAN PALMERSTON NORTH

Tim

Bray.

MAINFREIGHT AIR & OCEAN

WELLINGTON

Erle Betty, Dean Cope, Natalie

Curley, Chrissy Douglas, Paul Fredrickson,

Natasha Jacobs, Briony Larsen, Jeff Larsen,

Victoria Lelo, Robert Little, Sean Paterson,

Scott Rice, Trevor Rice.

MAINFREIGHT AIR &

OCEAN WHANGAREI

Chris Carmichael.

MAINFREIGHT FTL NORTH ISLAND Gavin

Bowers, Ken Brown, Ben Clark, Chris Collins,

Marc Collins, Lyle Cook, Paddy Didovich, Rob

Gifford, Ricky Ireland, Kevin Jackson, John

Katu, Ray Lutherus, Kyla McGregor-Kurth,

Warren McKee, John Mitchell, Karen Powell,

Ryan Rossiter, Ronesh Sharma, Ratneel Singh,

Jamal Stent, Mike Swindells, Sandy Teddy,

Chris Tunnell, Darren Turner.

MAINFREIGHT

FTL PALMERSTON NORTH

Matt Beckett,

Gordon Bell, Tracey Belliss, Bryan Douglas,

Uluaki Fangatua, Peter Flett, Stewart Hickford,

Nathan Inu, Leslie Jackson, Wendy Little, Darrin

Moeahu, Keri Monk, Francis Phillips, Fredrick

Phillips, Elvis Rowlands, Mark Simon, Peter

Taylor, Arthur Tepania, William Tupara, Justin

Wall, Julna Williams, John Winton.

MAINFREIGHT FTL SOUTH ISLAND Nathan

Anderson, Blair Bennett, Pete Bradley, Brett

Bramley, Trevor Bray, Tony Bremner, Hayden

Campbell, Benjamin Gibbins, Andrew Gilmour,

Tim Hitchings, Terry Hucklebridge, Cain King,

Glen Lloyd-Jones, Lindsay Miller, George Mirfin,

Sandeep Nafry, Jamie Newall, Gavin Nichols,

Rene Niovara’Dave, James Price, Rob Renwick,

Hoani Rewha, Taylor Scott, Ray Webb, Rex

Whittle, Neville Williams, Andrew Zyskowski.

MAINFREIGHT IT NEW ZEALAND Gus

Ah-Chong, Tyrone Ah-Chong, Nilesh Bhuthadia,

Corban Borrie, Joshua Burrow, Amelia Camp,

Alice Colenbrander, Jennine Cosgrave, Richard

Daldy, Fraser Dawson, Kishan Dhanji, Lawrence

Dunn, John Eshuis, Mark Hales, David Hall,

Gary Harrington, Alistair Hughes, Bharat Kesry,

Logan Lim, Rhoda Malveda, Lisa Martin, John

McStay, Shaun Morrow, Dineshan Naidoo,

Ankit Narotam, Arun Paul, Jamie Ross, Raagni

Sahay, Dennis Shikhu, Dannielle Steffany,

Pateriki Te Pou, Glen Thompson, Rachael

Timmo, Maree Toa, Roger van Dorsten, Peter

Webster.

MAINFREIGHT LOGISTICS

AUCKLAND, HIGHBROOK

Stephen

Bucheler, Rachel Crawford, Stephen Day,

Patisolo Feo, Ben Hadley, Gladys Iehu, Tony

Lafoga, Kaleb Lockyer, Jonathan Sellar, Kim

Sour Soy, Neil Theologidis, Maria Van der

Nagel, Ryan Wong.

MAINFREIGHT

LOGISTICS AUCKLAND, LANDING DRIVE

Clarence Fuimaono, Arthur Hoeft, Clement

Latulipe, Satish Ramaswamy, Esther

Oluwadamilola Rotimi, Luke Rudolph, Sikha

Santawirya, Adrian Tohovaka, Cody Watts.

MAINFREIGHT LOGISTICS AUCKLAND,

MAINFREIGHT LANE

Keegan Anderson, Joel

Bennett, Paulo De Souza, Amelia Fraser,

Manpreet Kaur, Priyesh Lal, Kyle London, Allan

Lowe, Cristina Lumby, Daniel Mason, Albert

Miratana, Som Nuttamon, Patrick Patau,

Tangapiri Pokoina, Satish Prasad, Roshlene Raj,

Lawton Rebbeck, Tammy Rivers, Hansell

Semeu, Hardeep Singh, Varinder Singh Chanal,

Harpreet Singh Rupal, Kennedy Smith, Theresa

Tahi, Lusio Taliauli, John Valu, Hafe Vilitama,

Dean Walters, Leslie White, Faisal Zafiri.

MAINFREIGHT LOGISTICS AUCKLAND,

MANU STREET

Charlotte Abbott, Tusi Alao,

Zac Brocklehurst, Joel Clarke, Jupiter Dai,

Varghese Devassy, Natalia Fanene, Joseph

Fulu, Patrick Iese, Dennis Ikenasio, Swapnil

Jose, Mo Khan, Sangeeta Lal, Francis Lee,

Hosea Maloni, Melvin Nair, Megan Nel, Rajesh

Patel, Jake Ropati, Siju Samuel, Liam Sharland,

Vivek Sharma, Pardeep Singh, Sukhir Singh,

Kim Sipeli, Krystal Solomono, Thomas Steel,

Alvin Swamy, Piesi Tama, Andy Tongia,

Suitulaga Tupuiliu, Aleska Veljkovic.

MAINFREIGHT LOGISTICS AUCKLAND,

NEALES ROAD

Josh Blackwell, Alex Chen,

Jodie Jackson, Harley Jacobs, Samuel Joe,

Amelia Lee-Hussien, Darius Mamea, David

Moevao, Komal Nadan, Sam Petersen,

Harmanpreet Singh, Jagjeet Singh, Jarmanjit

Singh, Kulwinder Singh, Nirmal Singh,

Rajwinder Singh, Rhys Stunell, Alvin Vaisa, Ofa

Vave.

MAINFREIGHT LOGISTICS

AUCKLAND, O’RORKE ROAD

Chaenala

Bennett, Paul Claydon, Kim Curtis, Marcio Da

Silva, Talia Ioasa, Patrick Jeffery, Gitesh Kishore,

Fotu Mau, Patrick Patalesio, Sarah Rodgers,

Lyn Rogers, Corbin Taylor, Amasaia Valu.

MAINFREIGHT LOGISTICS AUCKLAND,

WESTNEY ROAD

Tony Amituanai, Mandeep

Aulakh, Dave & Kay Batchelor, Zach Butler,

Jason Byun, Joshua De Thierry, James

Fuamatu, Ankur Ghuliani, Warren Hall, Neil

Harding, Travis Hari, Thomas Hughes, Salmaan

Hussein, Ioasa Ioasa, Sam Irving, Shazil Izaz,

Deborah Jackson, Tau Kaho, Samuel Kalauta,

Salesh Kishore, Levi Kite, Denis Kovalev, Sonal

Kumar, Abhinash Lal, Tim Logan, Simi Mareko,

Daniel McGrath, Ashwin Mohan, Jessica

Moody, Evelyn Pak, Patricia Papanui, Tangi

Pekepo, Graham PoChing, Zane Polley, Jai

Prasad, Kelvin Prasad, Roneel Raj, Dallas

Rawiri, Tony Sagaga, Daniel Sharma, Mandeep

Singh, Nirmal Singh, Khodie Tagoai, Mulivai

Televave, Mladan Yagmich.

MAINFREIGHT

LOGISTICS CHRISTCHURCH, ISLINGTON

Craig Baird, Richard Blake, Olly Bosworth,

Carissa Leka, Joshua Pavelka, Aaron Smith,

Caitlin Taiapo, Luke Trounson.

MAINFREIGHT

LOGISTICS CHRISTCHURCH, MCALPINE

STREET

Michael Baker, Wayne Busson,

Richard Cowper, Caitlin Dunne, Diane Franks,

Tanisha Haumu, Jack Henshaw, Sean

Henshaw, Bernard Jagers, Akshay Jindal,

Andrew Kay, Harry Larkman, Geoff Lulham,

Hugh Lynch, Guy McMenamin, Jared Orme,

Tyler Pakau-Narayan, Aslyn Pennington, Brynley

Riches, Sue Riches, Mark Ritchie, Sandra

Ritchie, Jessica Rowe, Kristin Sadd-Peawini,

Anthony Sialeipata, Brayden Simkin, Kirk

Simpson, Harjit Singh, Lovepreet Singh,

Sarabpal Singh, Garth Sutton, Erika Tinomana,

John Wolfrey, Robert Woods.

MAINFREIGHT

LOGISTICS DUNEDIN

Geoff Baird, Martin

Swann, Bruce Wilson.

MAINFREIGHT

LOGISTICS WELLINGTON

Kayleigh Adrian,

Te Rangi Hata, Gregory Hunter, Huriata

Karauria, Jacob McDowell, Christian Vaaulu,

Jonathan Zwart.

MAINFREIGHT METRO

AUCKLAND

Chrissy Adams, Mustaq Ali, Zavid

Ali, Abdul Asheem, Jatinder Bajwa, Zubin

Bhathena, Emma Bryant, Shenaye Campbell,

Ritesh Chand, Alisha Chauhan, Patrick

Chong-Nee, Etesa Cordtz, Thomas Curtis,

Aoese Fruean, Karunesh Gounder, Nicole

Harris, Naushad Hussein, Tevesi Inukihaangana,

Inderjit Jaswal, Lashman Jhim, Ashwin Karan,

Ashaf Khan, Imtiyaz Khan, Nazim Khan, Zeyn

Khan, Alvin Kumar, Mahendra Kumar, Nishant

Kumar, Rahul Kumar, Ravneeth Rinesh Kumar,

Hirdeshwar Lal, Timothy Love, Kirsty Michell,

Mahendra (Bobby) Naicker, Davendra Naiker,

Malay Patel, John Paul, Krishneel Varun Prasad,

John Raju, Devesh Ram, Saud Ramadhan,

Munendra Reddy, Vimal Reddy, Liam Reidy,

Nizal Saddik, Rakesh Sen, Mez Sethna,

Quentin Sinclair, Chamkaur Singh, Davinder

Singh, Deepen Singh, Dushkar Singh,

Gagandeep Singh, Hardeep Singh, Harry

Singh, Parnam Singh, Shyam Singh,

Sukhuinder Singh, Hardeep Singh,
Rajdeep Singh Powar, Amanda Smith, Anmol Sodhi,

Kunal Sodhi, Mikey Taia, Thomas Tetai, Ropisone

Toma, Sateki Tongia, Laura Watson, Sam Wilkinson,

Alex Witteveen.

MAINFREIGHT METRO

CHRISTCHURCH

Sheilk Ali, Malcolm Baird, Aaita

Biswa, Honey Bizarh, Lizzie Bridges, Andrew Chai,

Dan Chetty, Vince Cheung, John Cowlin, Craig

Cowper, Tarvinder Deol, Anmol Dutt, Robert Hayes,

Tim Hitchings, Ian Johnson, Corrie Kerkvliet,

Jatinder Kumar, Brian Lewis, Jarad Maioha, Feroze

Mohammed, Hameed Mohammed, Armit Rai,

Katrina Robertson, Shantel Robertson, Wayne

Robertson, James Sansom, Grant Sherlock,

Amrinderjit Singh, Darshan Singh, Jatinder Singh,

Kamaal Singh, Mandeep Singh, Manpreet Singh,

Pargat Singh, Sam Singh, Sandeep Singh, Simarjit

Singh, Sukhwinder Singh, Bo (James) Zhang, Li

Zheng, George Zuo.

MAINFREIGHT METRO

WELLINGTON

Tama-Rangi Awatere, George

Chapman-Reynolds, Kayleigh Elliot, Clinton Garrity,

Ben Harris, Jacob McDowell, Marama Riddell,

Graham Strang, Tecye Tevita, Segaula Va, Julie

Ward.

MAINFREIGHT MOBILE Sosaia Ahau,

Dylan Anderson, Parapa Fatamaka, Kevin Geard,

Wisam Ibrahim, Faiyaz Khan, Alex Phillips, Nishant

Sharma, Ganandeep Singh, Gurjant Singh, Jagdeep

Singh, Sukhdev Singh, Glen Symons, Clayton Tito.

MAINFREIGHT PORT OPERATIONS,

AUCKLAND

Carol Avard, Arron Davis, Balwant

Dhaliwal, Rob Dickinson, Alexander Fedorov,

Harmandeep Gill, Gerald Goff, Muni Gounder,

Nicholas Gray, Michael Heera, Adam Hohepa, Bryan

Hohepa, Mohammed Khan, Oriana Laumea, Rezin

Leaunoa, Faizad Mohammed, Shakeel Mohammed,

Ravi Naidu, Dinah Ogabang, Sarwan Padayachi,

Harry Petersen, Avinesh Michael Prasad, Simon

Sahim, Harinder Sandhu, Sukhraj Singh, Puneet

Singla, Tiffany Sio, George Taiapo, Andrew Tautari,

Terrance Tereapu, Trudy Timmo.

MAINFREIGHT

PORT OPERATIONS, CHRISTCHURCH

Sameh

Awadalla, Renee Barnes, Dean Coates, David

Dickson, Adrian Ferguson, Vaughan France, Tony

Green, Eddie Hiku, Michelle Hodgkinson, Carolyn

Kirby, Gary Sellars, Joe Weng, John Williamson.

MAINFREIGHT PORT OPERATIONS,

WELLINGTON

Ken Harris, Wayne Kilgour, John

King, Tony Roberts, Chris Sirota.

MAINFREIGHT

2HOME AUCKLAND

Nathaniel Anesone, Sam

Anson, Ray Brown, Jagroop Chahel, Ratish Chand,

Ella-Lee Cihak, Joseph Collins, Cindy Crosbie,

Darren Cummins, Jonathan Davison, Mark De Hoog,

Alan Enslin, Tama Fasavalu, Edward Freeman,

Jeffrey Fuatogi, Sukhdeep Gill, Theresa Herbert,

Sophia Hunt, Tony Inia, Joe Kawau, Joshua

Kewene, Mohammed Khan, Jordan Lau’ese,

Amitesh Maharaj, Nukutawhiti Mano, Jared

Martinovich, Siosifa Ma’u, Zain Mohammed, Ben

Monro, Michael Munns, Jared Nuku, Jacqui

O’Connor, Peter Park, Dhiren Patel, Jeremy

Patterson, Jade Pearce, Chhabra Raghu, Deben

Raut, Abdul Rehman, Andre Russ-Kite, Joshua

Savea, Justin Scrivener, Tupu Seumanu, Dharminder

Singh Gurpreet Singh, Hardeep Singh, Manjit Singh,

Paramjeet Singh, Grant Smith, Dion Solomona,

Bronwyn Symons, Israel Talakai, Allan Tango, Ioane

Tava’e, Arthur Tusa, Semisi Ula, Joe Veve, Antonio

Vila, Ioane Viliamu, Bianca Vuetibau, Peter Wallis,

Jeremy Wells, Sheree Whitehead, Caleb Wong,

Greg Wong, Kai Yao.

MAINFREIGHT 2HOME

CHRISTCHURCH

Ryan Berry, Ray Bradcock, Chris

Bramley, Grant Brinsdon, Ben Carlisle Reeve,

Timothy Challis, Greg Cooper, Ihaia Cox-Winiata,

Tony Cummings, Tom Dawson, Zac Devonshire,

Daniel Diamond, Mansell Diamond, Cameron Duffy,

Rob Duffy, Tracy Hapi, Daryn Hardy, Elijah Hosking,

Jaysin Hurrell, Ben Innes, Richard Kotlowski, Daniel

Lidgett, Katie Newsome, Wayne Pahl, Luke

Percasky, Tyler Perriton, Rob Poasa, Morgan Rangi,

Richie Richmond, Earl Ritani, Nicky Scott, Khamus

Sisikefu, Ryan Steadman, Xavier Te Wano, Henry

Whyte, Cody Williams, Kamen Withington, Ben

Wright.

MAINFREIGHT 2HOME WELLINGTON

Deepak Dadrah, Frank De Jong, Huriata Karauria,

Mariane Langi, Charles Simpson, Christie Strang.

OWENS AUCKLAND Aldre Aborro, Mohammad

Ahmed, Frank Aholelei, Ilaeiseh Aumau, Manjinder

Bhathal, Alvin Datt, Sheik Bobby Dean, Godfrey

Wynyard Brown, Michael Brown, Sami Chand, Aisea

Cokula, Daiana Cokula, Tiwihou Cope, Murray Craig,

Leanne Drube, Jayden Fanouaha, George Francis,

Jeremon Galiki, Sefulu Gaugau, Andrew Gibson,

David Heka, Pryce Howearth, Dominic Hunt, Eun Sik

Joo, Elaine Kaliopasi, Telea Kasipale, Fatai Kaufusi,

Robert Kealey, Mosese Kivalu, Ram Krishna, Anish

Kumar, Ashika Kumar, Nitesh Kumar, Ravin Kumar,

Salesh Kumar, Marshneel Lal, Neelam Lata, Joshua

Leef, Tino Liufau Pio, Rebekah Lopau, Emma Lowry,

Teremoana Loza, Samuel Lythe, Lloyd Mahara,

Pravin Maharaj, Savi Maharaj, Joylene Malofie,

Christian Marsters, Upoko Maruariki-Taoro,

Mike Masters, Macayla Masters-Clarke, Jackie Mein,

Riaz Mohammed, Gabriel Moore, Ali Mumtaz,

Damien Murray, David Murray, Leena Nand, Kartick

Narayan, Junior Nathan, Tarryn Neal, Tim Ottenhof,

Rayneil Pal, John Palelei, Jayantkumar Patel, Lisa

Pearce, Braedon Phillips-Davis, Christopher

Pikering, Brooke Pope, Shavneel Prakash, Vinal

Prasad, Kelevi Qalilawa, Vinit Raj, Nileshni Rattan,

Davante Renata-Leaf, Toby Reynolds, Gerrard

Robinson, Sukhi Samra, Samil Sanesh Sewak,

Aklesh Sharma, Salendra Sharma, Vinnie Sharma,

Baljinder Singh, Dalbir Singh, Davinder Singh,

Dinesh Singh, Gurdev Singh, Gurjant Singh, Jagjit

Singh, Jatinder Singh, Nawal Nischal Singh, Niraj

Singh, Raj Singh, Terry Slattery, Andrew Smith,

William Smith, Archie Stephens, Oliver Stevens,

Robert Stevens, Junior Stowers, Nathaniel Swney,

Alisha Tairakena, Shayne Tall, Joseph Tatafu,

Andrew Tautari, Adam Tieng, Bryan Tohi, Uluka Lala

Toki, Dibley Tokimua, Peter Topia, Siaosi Tuanai,

Eddie Tuhakaraina, Paongo Tulimaiau, Mark

Upokomanu, Billy Vesth, Jason Vijaykumar, Gurjant

Virk, Kathryn Wilson, Candy Worden.

OWENS

CHRISTCHURCH

Rachael Bedard, Jason Carey,

Callum Field, Scott Finlayson, James Foster, Janine

Gordon, Kris Hickey, Ross Hodson, Kevin Huang,

Deane Hunt, Keith Kenyon, John Kerr, Robert King,

Matthew Kitchin, Jason Lapsley, Ricky Liang,

Yupeng Ma, Tony Martin, Lindsay McKewen, Lucy

Mitchell, Brigid Moorhouse, Alan Morgan, Guy

Murgatroyd, McGee Nimmo, Xin Ning, Elizabeth

Prentice, Melissa Riach, Graham Ryan, Jimmy

Shearman, Jennifer Sheppard, Manpreet Singh,

Narender Singh, Sam Singh, Kareena Sullivan, Le

Tan, Allen Tian, Bobby Tito, Rowan Traue, Holly

Turnbull, Talosia Vanilau, James Whittle, Hayden

Williams, John Wynyard, Haobo Xu.

OWENS

HAMILTON

Wayne Bryant, Lindsay Meredith.

OWENS WELLINGTON Ala Aiono, Sally Bryant,

Kate Hoar, Tracey Hoare, Alby Mahuika, Allen

Marchant, Cambridge Moore, Toi Morehu, Jeffery

Saunders, Harminder Singh, Johan Soeteman.

OWENS LOGISTICS AUCKLAND Hannay

Lapana, Konelio Leone, Anthony Levao, Jodi

McLaren, Colin McPherson, Milka Sagi, Maninder

Singh, Sukhjit Singh, Mateo Tino, Jeremy Williams.

OWENS LOGISTICS CHRISTCHURCH Grant

Breach, Isaac Breach, Emily Fowler, Rebecca

Hayward, Chunguang Hu, Andrew Maxwell, Gareth

McKay, Thomas Meyrick, Jayden Mita, Richard

Owen, Ivan Peek, Jim Rabuku, Deborah Ryan,

Andrew Sesani, Nikita Swarts.

OWENS TANKERS

Andrew Calvert, Maurice Clarke, Joe Curtis, Tom

Davis, Jock Dixon, Brian Keogh, Pera Maxine, Reza

Motadeli, Guy Small, Marilyn Syms.

TRAINING

TEAM NEW ZEALAND

Donna Barrett, Charlotte

Carpenter, Charlotte Colson, Rochelle Coster, Erica

Dash, Trace Donaghey, Gary Dyason, Rachel Hustler,

Lizzie Judd, Ange Quedley, Alexia van der Zanden.

AUSTRALIA

CAROTRANS BRISBANE Jacinta

Gremond, Naia Morais, Anna Slater, Grace Stewart,

Peter Tombling.

CAROTRANS MELBOURNE

Sindy Bartlett, Rebekah Burgoyne, Debra Carr, Jade

Carter, Paula DiBella, Melanie Hill, Renee Pace,

Andrew Petersen, Brianna Pisasale, Jacinta Polzella,

Nadia Rimene.

CAROTRANS SYDNEY Adam

Bajek, Hamish Brown, Tiana Hamlin, Alana

McCarten, Tony Naumoff, Diana Scott, James

Warren, Kate Winterburn, Karam Zebib.

CHEMCOURIERS BRISBANE Haris Akram,

Claude Andrasescu, Steven Beaumont, Troy

Blacklock, Olivia Goldsack, Connor Harper, Samuel

Hudson, Kevin James, Amanda Johnston, Garry

Kennedy, Pankaj Kumar, Legan Nyabenda, Chris

Powell, Scott Pratt, Mandeep Singh, Ranvir Singh,

Surinder Singh, Tarsem Singh Sandhu, Tere Webb.

CHEMCOURIERS MELBOURNE Marli Adendorff,

Cameron Aldridge, Brian Aspinall, Mehdi Bahrami,

Peter Bedford, Daemen Bray, Anita Byrne, Eugene

Calandro, David Carswell, Matthew Cartledge, Ethan

Coates, Lucas Columbro, Kevin Dicker, Guo-Qiang

Dong, Goran Grbic, Shayam Jayasuriya, Navdeep

Johal, Scott Jones, Jason Kennedy, Lyly Lai, Henry

Lam, Monique Latorre, Caleb Lewis, Marcel

Maunsell, Grace Mead, Katrina Miller, Shertim

Muratovski, Radmilo Nedic, Hoai (Victor) Nguyen,

Huy Nguyen, Sang Nguyen, Christopher Raditsis,

Vanja Radulovic, Terry Rawiri, Satpal Singh Sandhu,

Dillon Trew, Lanh Truong, Isaac Tufuga, Aled

Wills-John.

CHEMCOURIERS SYDNEY Bilall Ajaj,

Ridhwaan Ali, Riyaz Ali, Liam Bainbridge,

Benjamin Bano, Michael Blitvic, Elie Boulos, Hayley

Brown, Naman Chand, Blake Curran, Nicholas

Foglia, Joeffrey Frias, Caleb Fungo, Cebbar Gergoy,

William Hamdi, Liam Hastings, Matthew Ishak, Petar

Jovanovic, Mohammed (Kash) Khan, Andrew Kyei,

Michael McIvor, Robert Meredith, Timothy Meredith,

Kelela Pasina, Eva-Lynn Patai, Natasha Perese,

Motiana Pisu, Daniel Ross, Sam Sattar, Elvis

Sehovic, Mark Shabow, Peter Smith, Mark Taai,

Terry Tallar, T-Jay Tallar, Antoinette Te Runa, Peter

Thomson, Lokomaikaiokalani Vaisagote, Stanley

Vaka, Bruno Vidigal, Romesh Vigneswaran, Gary

Vongphakdy, William Wang.

MAINFREIGHT

ADELAIDE

Kendall Anderson, Cherie Aunger,

Jason Borg, Shane Borg, James Brook, Alfredo

Cammarano, Christopher Cammarano, Pauline

Cammarano, Amanjot Cheema, Trevor Clayson, Jae

Cook, Danyl Drabsch, Jesse Ebert-Hudson, Peter

Fanning, Luke Farrugia, Lee Ford-Griffiths, Terry

Forst, Arthur Gentle, Michael Goldfinch, Shanon

Govindan, Patrice Hall, Michelle Hanson, Otniel

Iordachi, Robert Jones, Jody Knight, Valeria

Lapteva, Warren Logan, Napinder Mann, Liam Miller,

Deborah Moore, Lauren Neldner, Kim Pawsey,

Lee-Anne Phillips, Stephen Phillips, Joanne

Reimann, Mark Richter, Lynne Rooney, Thomas

Scholtus, Garry Semmler, Mitch Simons, Gurpreet

Singh, Harjit Singh, Vajinderpal Singh, Jack Star,

Tracy Stefanopoulos, Justin Stoyanoff, Stefan

Stoyanoff, Tom Stoyanoff, Andrew Tait, Steve

Thorpe, Aaron Ward, Madeline Wilsdon.


MAINFREIGHT ALBURY

Vishu Arora, Gordon

Brooks, Jason Ellingham, Bradley Foy, Michelle

Foye, Theo Fraser, Tori Graham, Joshua Green,

Ashley Hemopo, Jessie Hullick, Kym Hullick,

Matthew King, Luke McCluskey, Craig Perry,

Amrinder Singh, Avtar Singh, Manjot Singh, Riki

Tipene, Tinika Tipene.

MAINFREIGHT BALLARAT

Adrian Freckleton, Steve Gill, Jason Hanson, John

Lloyd, Vanessa Maxwell, Andrew Sporne.

MAINFREIGHT BENDIGO Claude Ayrton, Micheal

Lawry, Benjamin Norris, Lidia Tonkin.

MAINFREIGHT BRISBANE Indira Abrahams,

Lauren Alley, Amanda Aplin, Sorcha Barnes, Steven

Blackmoore, Patterson Callum, Tara Carnegie,

Ritesh Chand, Erika Chee, John Cohen, Courtney

Collier, Cassandra Collins, Mitchell Day, Timothy De

Beer, Greg De Lautour, Ruth De Lautour, Roy Faifai,

Deanne Gage, Lucas Goldblatt, Stephanie

Goldsack, Daniel Goodwin, Shari Groves, Kris

Gyorky, Angelina Harper, Stacey Heard, Michael

Heironymus, John Holpen, Yvonne Ili, Chase Inia,

Christian Ionut Istrate, Vikram Jit, Anthony Johnson,

Steve Jovanovic, Amanda Karipa, Trevor Keating,

Dallas Keevers, Andrew Kelly, Bhupinda Kharaud,

Jayson King, Joseph King, Linda King, Sharvin

Kumar, Sunil Kumar, Bradley Lahey, Daniel Lahey,

Jason Levy, Nikki Lindsay, Reece Little, Jamie Lovell,

Ezekiel Makowharemahihi, Natu Manao, Harrison

Martin, Shaun Martin, Tina Martin, Samuel Massey,

Nathan McDonald, William Meaclem, Joshua

Meads, Brandon Metai, Darius Moldovan, Rodolfo

Morales-Diaz, Michael Murray, Khalid Naved, Zoltan

Neer, Michael Niesler, Bradley Ogier, Ian Patterson,

Nicholas Pell, Tod Poole, Ashleigh Santoso, Sharyn

Santoso, Amber Scott, Ashleigh Scullion-Gilpin,

Quinn Sherriff, Jonathon Silver, Brent Smith, Jarrod

Smith, Sebastian Smith, Todd Smith, Zac Speedy,

Liesel Stevens, Charles Sutcliffe, Stephen Te Hau,

Sunil Thakkar, Katie Thompson, Pologa Tuafafo, Jay

Tuautu, Vesi Tuautu, Steve Turner, Peter Underwood,

Terence Utai, Uhila Vakameilalo, Akos Varga,

Fursland Wayne, Kevin Whitty, Robert Williams,

Byran Wong.

MAINFREIGHT BUNBURY Laurent

De Robillard.

MAINFREIGHT CANBERRA Jahmal

Batchelor, Leonie Blundell, Steven Edwards, Kai

Ehlers, Uate Foliaki, Andrew Pearson, Bryce Ring,

Liam Thompson, Nicola Thompson, Kieran

Wickham, Michael Zhou.

MAINFREIGHT

GEELONG

Cheryl Dean, Ranjan Grewal, Sean

Maher, John Seaver, Jaswinder Singh Baidwan,

Sander Vreeburg.

MAINFREIGHT GOLD COAST

James Blok, Katrina Casey, Mark Jackson, Michael

Jones, Rhys Mahy, Glenn Manwell, Joel Nikeller,

Crystal Obst, Zoltan Udvardi, Allan Were, Chris

Were, Maraea Wharemate.

MAINFREIGHT

MELBOURNE (CLAYTON)

Nicole Adendorff, Vijay

Ahluwalia, Hassanain Ali, Nelson Aravjo,

Jenny-Maree Armel, Kanwalpreet Atwal, Mali Barber,

Nirmal Brar Singh, Craig Britto, Liem Bui, Aaron

Campbell, Vince Cecil-Daniel, Bin Jing Chen, Peyton

Coghlan-Savage, Steve Cooper, Sonani Cramer,

Peter Daly, Andrea D’Cruz, Kim Devine, Jatinder

Dharni, Albert Edwards, Chithrinee Ekanayake,

Mirjana Fifita, Mafutaga Galuvao, Anthony Garland,

Sam Gebremeskel, Anthony Giannopoulos, Zack

Gligurovski, Semi Godinet, Jason Govaars, Ross

Grace, Callum Greig, Peter Grindal, Chloe

Guillemain, Brayden Hackling, Douglas Hartwick,

Ali (Reza) Hassani, Jamie Haysom, Faye Henderson,

Valentine Hicks, Jason Hill, Thuyet Ho, Dane Hoffner,

Jake Howell, Mujtaba Hussain, Sadaat Hussain,

Jesse Jansz, Jack Kanakaris, Cory Kapetanakos,

Balwinder Kaur, Gregory Kennedy, Miki Kolek,

Michael Kuzmanovski, Raymond Lal, Daniel Lamblin,

Resalene Lavaka, Thomas Lennon, Madeleine

Lynch, Mike Mai, Lewis Marco, Peter Mayes, Scott

McGill, Huy Minh Vu, Albi Mino, Benny Moser,

Muamer Muratovski, Shenol Muratovski, Surender

Nagulapally, Krishna Naidu, Jean-Claude Nayna,

Cody Newsome, Mark Ngaruhe, Nhiem Ngo, Vu

Ngo, Ken Nguyen, Tien Nguyen, Tony Nguyen, Bill

Nikopoulos, Mitchell Nolan, Dylan Osman, Osman

Osman, Luke Pavey, Emma Pedler, Ray Pepper,

Hung Pham, Paul Pipilakis, Michael Pryor, Presley

Purcell, Sukhdeep Rangi, Malcolm Reynolds,

Megan-Anne Rose, Elmedina Sadinlija, Trevor

Scharenguivel, Antarpreet Sekhon, Amandeep

Sharma, Avinder Singh, Baljit Singh, Barinder Singh,

Darshdeep Singh, Davinder Singh, Khusdeep Singh,

Ravinder Singh, Rupinder Singh, Anna Smith, Chloe

Smith, Xavier Smith, Craig Steer, Hanh Hq Ta,

Ashley Taylor, Rebecca Taylor, Turoa Tipene, Duc

Truong, Han Truong, Van Be Truyen, Damian Turner,

Sanele Utupo, Sitiveni Vakacavu, Joseph Vibal,

Estelita Vincent, Tommy Vo, Srdan Vukovic, Jennifer

Wanigasekera, Kelly-Jo Wells, Stacey Wells, Andrew

Weymouth, Willie Wharewera, Alphonso Williams,

Helen Williams, Harrison Wright, Steve Wright.


MAINFREIGHT MELBOURNE (EPPING)

George

Abernethy, Marola Amin, Linfield Anitipa, Paul

Anitipa, Louis Arnott, Rajvinder Bains, Lochlan

Barlow, Yousef Bastani, Clement Boydell, Corey

Braid, Amiee Chambers, David Ciardullo, Tomas

Condon, Stephanie Conduit, Robert Cross, Bryan

Curtis, Grant Draper, Benjamin Duke, Danielle

Edwards, Faafetai Etuale,Vincent Falvo, Josephine

Fava, Soteria Folaumoeloa, Bill Fraser, Anthony

Galea, Brice Giacomantonio, Bradley Greer, Luke

Grimes, Amy Habermann, Wayne Harris, Edmila

Hebel, Kathleen Hill, Tanya Hillier, Tohidul Hoque,

Shengdong Huang, Beniamina Inatoti, Leah Jones,

Mele Kaliopasi, Chung-Hsuan Kuo, Violeta

Kuzmanoski, Dianne La Velle, Izaac Lazarevic, Kam

Lee, Brandon Lemalu, Christopher Lindroos,

Michael Mackenzie, Cameron MacLean, Paul

Mahfoud, Brok Maihi-Taniora, Tarun Markapuram

Shivaprakash, Andrew Marshall, Mercedesz

Matskassy, Nicholas Matthews, Stuart McKell, Kevin

Mendez, Nicole Merrigan, Nicholas Milevski, Rodd

Morgan, Edward Mulvenna, Keryse Munro, Morgan

Munro, Tosko Nastevski, Ainsley Newson, Amrinder

Pannu, Dimitra Paterakis, Nicholas Payne, Edward

Pearson, Hai Pham, Mark Phelan, Sammy

Phommachanh, Andrew Plonsker, Joanne Polley,

Tikka Popple-Amos, Luisa Pouono, Ashleigh Rae,

Matthew Rak, Christina Rebesco, Gary Ritchie,

Graham Robinson, Lauren Ross, Leasa Rowley,

Brendan Ryan, Melanie Savona, David Scott, Funda

Sener, Rupesh Sharma, Jesse-Jaymes Simmonds,

Amarpreet Singh, Angrej Singh, Devender Singh,

Gary Singh, Gurpreet (Raj) Singh, Harjap Singh,

Harpreet Singh, Jagpreet Singh, Jaspal Singh, Jazz

Singh, Mandeep Singh Brar, Parmjeet Singh Verma,

Gagandeep Singh Virk, Tayla Stankovski, Maryann

Stellini, Natasha Stojkovska, Martin Stronge, Paula

Suwart, Janaya Symons, John Tapuala-Unasa,

Andrew Thompson, Rawiri Thompson, Natalie

Trajkovski, Bransislav Trifkovic, Thanh Phong Truong,

Steven Tucci, Aline Van Buiten, Riley Van Buiten,

Jake Van Meel, Justin Velevski, Leigh Vlasblom,

Richard Vlasblom, Massey Wade, Joyce Wain, Joe

Wakefield, Ford Watene, Jaya Wirawan, Jessica

Young.

MAINFREIGHT NEWCASTLE Beau

Baglin, Kristen Cameron, Tony Cross, Brett Cullinan,

Luke Dalton, Lily Davis, Tom Enderby, Ebony Fisher,

Jessica Govan, Jason Hammer, Shardey Hancy, Jim

Heins, Ruby Ho, Kaiden Hudson, Zachariah Jenkins,

Dylan Johnson, Benjamin Keane, Ian Macpherson,

Matthew McCallum, Tanya Milne, Brett Mulheron,

Michael Parkinson, Alyssa Pilgrim, Byron Price,

Steve Renton, Stephen Smith, Douglas Williamson,

Jason Willoughby, Brad Yuile.

MAINFREIGHT

PERTH

Muchsin Alaydrus, Mark Alberts, Daniel

Battaglia, Sarah Battaglia, Karl Baxter, Shaun

Birmingham, Christopher Brookshaw, Stephen Bull,

Mohamed Cheaib, Rau Cooper, Shaun Davy,

Michael DiMaggio, Raquel DiMaggio, Damien Faass,

Lauren Faass, Sinan Fazlilar, Jeffrey Field, Robert

Foster, Jesse Galende, Rob Glerum, Jesse

Gray-Morgan, David Gurney, Renato Hadziavdic,

Daniel Harvey, Robert Hawksworth, Graham Herd,

John Hope, Frank Hulsdunk, Valerie Jeisman, David

Kake, John Keen, Jaskarn Khanghura, Jaswant

Kharoud, Pardeep Kumar, Theunis Lemmer, Rajesh

Lohan, Nikki Maru, Todd McCabe, Raymond

Mccagh, Matthew McKeon, Susanne Meechan,

Bailey Mitchell, George Moore, Patrick O’Shea,

James Paekau, Malcolm Papa, Yianni Papaliaris,

Madison Parker, Singh Sandhu Ravipreet, Amelia

Richardson, Robert Rix, Annette Roberts,

AU

Damian Schoppe, Jaswinder Singh, Paramveer
Singh, Gurpreet Singh Gill, Harpal Singh Saini,

Amandeep Singh Sandhu, Pushpinder Singh

Sandhu, Curtis Spencer, Christine Sutherland,

Simon Tasker, Scott Taumata, Graeme Tilley, Paul

Van Dam, Huy Vu, Peter Webb, Hamish Williams,

Alexandria Wood, Daria Yuldasheva, Nargis Zahedi.


MAINFREIGHT SUNSHINE COAST

Brent Bevin,

Jessica Cuming, Mark Thomas. MAINFREIGHT

SYDNEY

Mitchell Ahrens, Rogaya Alexander, Haider

Al-Haider, Ramy Al-Haider, Fadi Al-Mallou, Renney

Ama, Sharon Ama, Guy Assanti, Kevin Babbington,

Zachariah Beltran, Mohammed Beydoun, Tony Bilir,

Jake Brazill, Laisenia Burewe, Armani Busby,

Talmage-Jade Busby, Avinesh Chand, Ravi Chand,

Salvin Chandra, Raelene Codd, Ashleigh Collins,

Amy Connelly, Kim Corpin, Jessica Currey, Daniel

Curtis, Samantha Daley, James Darby, Alik Darmo,

Charisse De Abreu, Navdeep Deogun, Pamela

Dilucchio, Alan Ebadi, Mathew Edwards, Danny

Ellyard, Denielle Everingham, Naseri Faifua, Hilal

Fawaz, Moh Fawaz, Russell Fender, Amelia Fifita,

Kristen Flood, Asipeli Fotofili, Anthony Franco, Jason

Gerondis, Tayfun Gezer, Imran Goraya, Vishnu

Gounder, Reza Hamazaehlouei, Namal Hamid,

Thomas Han, Kryillos Hana, Ray Hanson, Geoffrey

Heard, Makalio Hehea, Rosario Herbereau De La

Chaise, Kingi Hoskin, Tony Howard, Declan

Jackson-Harris, Kathryne James, Natalie James,

Samuel Jenkins, Lolomanaia Kakala, Jim Karipis,

Sarah Kimmings, Zed Komsic, Nishi Kothari,

Sachindra Krishnan, Van Le, Holly Licciardo, Stacey

Lockeridge, Danny Loli, Surendra Madala, Loseli

Manu, Mark Mariano, Patrick Masaisomug, Joshua

Masih, Kathleen Mena, John Michael, Daneile

Moana, Susan Morrow, Magele Muaulu, Solomone

Naa, Avinesh Naidu, Niraj Navin, Tai Ngaau, Quoc

Nguyen, Quoc Tai Nguyen, Tan Nguyen, Vanessa

O’Neill, Pece Paceskoski, Phillip Paceskoski, Suza

Paceskoski, Cindy Page, Junior Papalii, Vinay

Rajendrakumar Patel, Jessica Peig, Bill Perese,

Thomas Pham, Christopher Phelan, Scott Phillips,

Dragan Popovic, Mark Posa, Lisa Profilio, Iosefa

Pule, Michelle Purvis, Donald Ram, Pawan

Rathnayake, Debbie Rawiri, Reti Reed, Jimmy

Ristevski, Adam Robey, Channa Rodrigo, Ezekiel

Rookledge, Rafael Rueda, Saipele Salelesi, Tagi’ilima

Salelesi, Shiu Sambhu, Jody Savage, Strantz

Schaumkel, Jessica Schuck, Amy Schumann, Kyle

Shales, William Shea, Joshua Siddle, Ismael Silvera,

Chandresh-Bobby Singh, Gurvinder Singh, Pranit

Singh, Randhir Singh, Satbir Singh, Tyreece Siofele,

Nino Sioufi, Hayden Smith, Alan Spackman, Stefano

Tahi, Rangimarie Takiari, Vaituu Tautai, Jade Towle,

Anthony-Minh Tran, Zoran Trenkoski, Umit

Tuncdoruk, Taane Tupola, Filipine Vave, Sione Vave,

Mark Vincent, Denise Vitellaro, Ratu Vuibau, Vikrant

Wadhwa, Mary Wall, Tershel Watene, Peter Wilson,

Reginald Woonton, Angus Zammit.

MAINFREIGHT

TOOWOOMBA

Aaron Furey. MAINFREIGHT

TOWNSVILLE

Steven Ace, Marla Costabeber, Jack

Grimwood, Michael James, Tierre Mallinson, Scott

Wilton, Nicholas Withycombe.

MAINFREIGHT AIR

& OCEAN ADELAIDE

Hayley Barnes, Gary

Birmingham, Hayley Collins, Jaimie Collyer, Joseph

Covino, Jodie Dirksen, Jessica Hautop, Adrian

Logan, Bianca Newbery, Sophia Nikolakopoulos, Thi

Ong, Caroline Pitman, Lisa Raimondo, Sarah

Ramiro, Kanesh Sivashankar, Mitchell Stint.

MAINFREIGHT AIR & OCEAN BRISBANE

Stephen Anderson, Elizabeth Arguello, Kathryn

Bailey, Christopher Bamford, Monicque Bamford,

Saskia Bemelman, Callum Bruce, Jessica Butler,

Grant Carlson, Erin Carmock, Joseph Castellana,

Damien Cridland, Camila Del Passo Brandao, Abbi

Dilena, Mitchell Fontalvo, Catherine Gillick, Bailey

Gooding, Myroslava Gopanchok, David Hall, Adam

Horne, Amy Kelly, Karen King, Deanne Kramer, Faith

Ling, Jacinta Marriott, Christopher Meacham, Sara

Payne, Madison Pfuhl, Mehau Phillip, Jessica

Pursey, Melanie Sheppard, Stephen Simpson,

Chantelle Stiege, Monty Sullivan, Jayde Tarbuck, Ian

Thomas, Ogi Vuksanovic, Rebecca Vuksanovic,

KaMing Wong, Peng Zhou.

MAINFREIGHT AIR &

OCEAN PERISHABLES BRISBANE

Drew Bowler,

Keisha Derrett, Ataia Faapo, Alec Fontalvo, Bronwen

Howells, Alex Jenkins, Faasuaga Lemaga, Andre

Ling, Brendan Rogers, Melanie Secomb, Mark

Underwood. MAINFREIGHT AIR & OCEAN

GOLD COAST

Luke Chance, Jade Fogwell.

MAINFREIGHT AIR & OCEAN MELBOURNE

April Ali, Gary Atkins, Daisy Attard, Melissa Bartlett,

William Brown, Laura Burns, Monica Cahill, Tony

Capuano, Ksenia Chudak, Darren Ciantar, Kerry

Cogan, Chrysanthe Coles, Lisa Colombo, Rebecca

Conte, Dave Coughlin, Kirsty Davis, Daniela

Dimitrijovska, Susi Dombrzalski, Elizabeth Fellows,

Shalini Fernando, Damien Ferris, Shania Finnigan,

Dale Foote, Vincent Fu, Louise Gallardo, Fiona

Goodwin, Rachel Grover, Clancy Hall,

Nicole Hegeman, Hamish Hill, Bronte Houston, Sean

Hutchinson, Janberk Ilhan, Aneta Jankovski,

Svetlana Kasyanov, Melissa Kelly, Carolyn King,

Megan Kirkman, Troy Kirwan, Bojan Kljajic, Damien

Kozelj, Franciscus Kranen, Rajini Kumari, Mandy

Lazaridis, Nicole Levey, Jing Liao, Jason Lister, Lee

Liu, Christopher Manessis, Rosaria Marra, Sarah

Martin, Wesley Mayne, Julia McMillan, Roslyn Meli,

Kosta Mihos, Amanda Millington, Pam Moussiades,

Matthew Mudge, Janine Nemeth, Lingna Ngo, Luise

Ockardt, Charissa Ong, Sasa Opacic, Melissa

Packett, Kristian Phillips, Vincent Pirozzi, Grace

Polgar, Natalie Poloni, Tahlia Prestia, James Ryan,

Anthony Schembri, Luke Sekoa, Shara Shanahan,

Brendan Shergill, Junsik Shin, Jason Spiteri, Georgia

Strada, Chloe Straughair, Xiaoxia Sun, Brittany

Thorogood, Travis Thorogood, Cynan Tomsen,

Winnie Tong, Paolina Tortora, Diem Tran, Daniella

Verlaque, Connie Vinci, Yizhao Wang, Joanne

Warway, Paige Woodhouse, Vincent Woolfe, Jie

Zhen, Oxana Zherebtsova.

MAINFREIGHT AIR &

OCEAN PERISHABLES MELBOURNE

Emad

Abbas, Khled Abbas, T-Jay Bartlett, Jonathan

Caruso, Vincent Caruso, Megan Cooper, Ryan

Darmanin, Houssein Dekmak, Travis Dellar, Adam

Downing, Mykhaylo Dyachkov, Mario Farrugia,

Sattambiralalage Fernando, Angelina Fernandopulle,

Benjamin Green, David Grossman, Julie-Anne

Jordan, Lisa Jordan, PingPing Liang, Jordyn Luke,

Shane Moroney, Beau O’Connell, Tom Redmond,

James Riego, Imad Takerei.

MAINFREIGHT AIR &

OCEAN NEWCASTLE

Belinda Bremner, William

Pooley.

MAINFREIGHT AIR & OCEAN PERTH

Nimitra Chandran, Alessandra Divina, Savannah

Dsouza, Loganayagie Govender, Melissa Lowe,

Misha Mandalia, Jocelyn McCagh, James McCrone,

Jennifer Nardi, Jueyu Peng, Kate Robertson,

Stefanie Schroeder, Rupesh Sethuram, Jian Tan,

Yokke Verbert, Joel Ward, Bronwyn Wassell.

MAINFREIGHT AIR & OCEAN SYDNEY Melissa

Ahilleos, Lee Amour, Luke Andreatta, Amber Bailey,

Joshua Brading, Skye Budd, Juan-Diego

Cabada-DeSouza, Vanessa Carangelo, Julie

Costopoulos, Julie Deang, Annelien Deceuninck,

Erika Dudley, Paul Enriquez, Alla Ermoliev, Justin

Evans, Salvatore Forzisi, Natalee Fox, Fidia Ghazi,

Tyne Green, James Hartigan, Kathleen Hoglund,

Seok Hong, Yuan Hu, Vanessa Jaconelli, Blake Kelly,

Julie Lee, Benjamin Lenzo, Marika Lenzo, Kin Li,

Jacky Liang, Fang Liu, Kaiju Liu, Shaoji Liu, Carol

Ma, Jimmy Ma, Jonathon Mahon, Cassandra

Mangan, Joanne Mani, Lachlan Maude, Conor

McClelland, Kylie Miller, Jessica Molyneux, Grant

Morrison, Joumana Nasr, Natalie Nikolovski, Steven

Pavitt, James Perkins, Kayla Phuyal, Liong Purna,

Jordan Quintal, Margaret Reynolds, Sofia Rida,

Edward Ridgway, James Robertson, Syed Sarwar,

Rebecca Sears, Michael Smith, Melissa Stanley,

Aleks Stojkovski, Robert Swinton, Elizabeth Tadic,

Bryant Tan, Karlson Tan, Tiancheng Tao, Samuel

Taylor, Lisa Turner, Denise Wainwright, Jiamin Wang,

Jiaqi Wang, Riwa Wiki, Philip Wilson, Kit Woo, Hua

Yu.

MAINFREIGHT AIR & OCEAN

PERISHABLES SYDNEY

Darren Bird, Michael

Blackburn, Mirjana Bridge, Mark Bugden, Matthew

Canturi, Sheldon Cofie, Craig Dunphy, Petelo

Falaniko, Lisa Harrison, Zara Harrison, Sophie Hill,

Kristian Jensen, Mathew Kyriakopoulos, Bronson

Mannix, Debra May, Damien McNamara, Michael

Neoklis, Kate Pryor, Imran Shaikh, Hayley Smith, Lee

Symons, Kurt Van Ummersen.

MAINFREIGHT AIR

& OCEAN TOWNSVILLE

Christopher Barnes,

Melyssa Hobbs.

MAINFREIGHT FTL ADELAIDE

Brian Cook. MAINFREIGHT FTL BRISBANE

Timothy Craig, Amanda Nugent, Angela Topp.

MAINFREIGHT FTL MELBOURNE Stephen Kay,

Brandon Lawler, Andrew Mase.

MAINFREIGHT

FTL PERTH

Paul Read. MAINFREIGHT FTL

SYDNEY

Rodney Steel. MAINFREIGHT IT

MELBOURNE

Darrel Byrnes, Lawrence Gangi,

Jonathan Holmes, Michael Hood, Aditya Hooda,

Megan Mackay, Bruno Marra, Andrew McLeod,

Matthew Murphy, Kate Oakley, Darryn Petricevich,

Pagona Petricevich, Benjamin Renehan, Suman

Shaganti, Justin Ventura, Anthony Venuto, Marija

Vukovic.

MAINFREIGHT IT SYDNEY Belinda

Bright, David Coen, Rachael Moore.

MAINFREIGHT LOGISTICS ADELAIDE Shaun

Hurrell, Scott Knight, Aaryn Minerds.

MAINFREIGHT LOGISTICS BRISBANE

(LARAPINTA)

Fetolofai Ah-Ching, Cameron

Barber, Alanah Campbell, Jennifer Colditz,

Alexander Finlay, Kate Fraser, Liam Fraser, Paul

Fraser, Nicholas Gardner, Petrus Grobler, Gordon

Hay, Emma Hemmings, Dragan Ivesic, Barry

Keleher, Tyler Little, Brandon McCorkindale,

Christine Meekings, Jason Moroney, Daniel Mullins,

Benjamin Parker, Jessa Pinili, Bianca Reck, Eric

Taylor, Damon Taylor-Grainger, Michael Thaow,

Hung Tran, Fiona Trebilcock, Alastair Tymon,

Benjamin Walton, Harry Winterbourne, Tracey

Young.

MAINFREIGHT LOGISTICS BRISBANE

(RADIUS DRIVE)

Po Iosia-Sipeli, David Kidston,

Matthew Little, Charles McDermott, Shelby Moselen,

Simon Wishart.

MAINFREIGHT LOGISTICS

MELBOURNE (EPPING)

Aviral Aggarwal, Emre

Aldemir, Mazen AlZaatari, John Anitipa, Aysha

Assafiri, Liam Bailey, Aladin Basic, Jayson Bedford,

Robert Bell, Vanessa Bogdanovic, Aaron Bond,

Thomas Bourke, Kevin Bradley, Mitch Bryan, Aidan

Chick, Alexander Chu-Shing, Jeremy Collins,

Salvatore Costa, Shivnesh Dass, Kimberley Davis,

James Dimick, Nicholas Dinneen, Khoder

El-Chaaban, April Farver, Alexander Fitzpatrick,

Dylan Gollant, Simon Hart, Tim Hasemann,

Katherine Hicks, Nick Hodges, Erin Icbudak,

Zachary Irving, Liam Jilla, Daniel John, Antony

Johns, Alexander Jordanov, Aleksandra Jovanovski,

Aleksandar Karakostov, Sandeep Kaur, Kirsten

Kerry, Benjamin Kidd, Shane Kinnear, Anastasios

Kourkoulis, Marc La Brooy, Daniel Lavars, Veronica

Lee, Nathan Lewis, Bradley Lightburn, Esekia

Manuele-Malagaoma, Rhonda Marroun, Riordan

McCarthy, Peter McNally, Natasha Meyer, Shaun

Mizza, Ghi-Ng Nguyen, Elvis Nikolovski, Samuel

Nyhuis, Michal Oczek, Joseph Padua, Dominica

Poutini, Donald Quartermain, Cody Rayson, Dillon

Rayson, Jacob Regester, James Reilly, Sian Rogers,

Karl Rutherford, Mark Sammut, Gabriel Simonetti,

Akash Singh, Clive Smith, Christopher Stephens,

Joshua Sumura, Pavithra Tallam, Harmon

Taulapapa, Jason Thea, Serhiy Timoshchenko,

Lyndah Tua, Luke Van Meel, Ger Vang, Dietmar

Venkort, Georgia Warner, Martin Wierzbicki.

MAINFREIGHT LOGISTICS MELBOURNE

(NOBLE PARK)

Molly Boswell, Hamish Bradley,

Olivia Bradley, Sam Bradley, Jake Charles, Kaytlyn

Davies, Riki Davies, Dorian Do, Senad Dosic,

Anthony Ennerst, Craig Fenney, Milka Ilijanic, Natalie

Jonker, Andrew Journeaux, Patrick Kerr, Ryan

Knipe, Shannon Lomas, Daniel Martin, Ha Nguyen,

Nathan Power, Siobhan Riordan, Sayed Shahi, Dean

Sinnbeck, Matthew Stephens, Valentin Teles, Eric

Thea, Joel Winder.

MAINFREIGHT LOGISTICS

PERTH

Helen Brookshaw, Jake Bungert, April

Canny, Craig Ellis, Matthew Elphinstone, Brett

Hoare, Nicholas Marshall, Sasa Pelemis, Pauline Poi,

Gerald Randle, Ricky Sassanelli, Brendon Taylor,

Zachery Taylor, William Tuheke-Wade, Ryan Vagg,

Todd Vallerine, Jeremiah Wordsworth.

MAINFREIGHT LOGISTICS SYDNEY (EASTERN

CREEK)

Vitda Pangnanouvong, Raymond Camillire,

Sejla Dizdaric, Matthew Gowman, Ali Hassani, Riyaz

Jordan, Jordan Lennon, Paul Loveridge, Xian Low,

Peter Moodley, Aseri Vakarau.

MAINFREIGHT

LOGISTICS SYDNEY (ERSKINE PARK)

Mustapha Beri, Cindy Cole, Kayla Collins, Scott

Forsyth, Stacey Galea, Susila Ika, Kadir Koksal,

Ashleigh Lemmon, Andrew Luu, Don McClean,

Christopher McGrath, Franca Onwodi, Shaun

O’Reilly, Sunti Ouk, Luke Parkes, Glenn Parkhill,

Daniel Payne, Jessica Rao, Kurt Reeves, Aaron

Rossiter, Nilakshan Sharvanandha, Jordan

Shepherd, Andrew Taylor, Xena Temu, Sione

Valulatu, Alexander Warton, Christopher Webb, Brett

Webster, Shane Zielonka.

MAINFREIGHT

LOGISTICS SYDNEY (PRESTONS)

Faapaia Alao,

Luke Arena, Dylan Ball, Christina Bekkema, Emilija

Benderovska, Marissa Berioso, Krystal Blackadder,

Laura Blazic, Nathan Brisenden, Dylan Burgess,

Raymond Burgess, Charlie Camilleri, Phillip Camilleri,

Catherine Catania, Augusto CepedaSimoes, Deepa

Chandra, Virginia Cheong, Shepherd Chigiya, Pik

Choy, Andrew Christiansen, Dalton Christie, Stacey

Clark, Rowan Cooke, Joshua Cutrupi, Quoc Dang,

Pramendra Datt, Ryan Denmeade, Nathan El Masry,

Jackson Elliot, Desmond Esera, Kisona Feni,

Futakihaagana Fepale, Florita Forrester, Rui Geng,

Sok Ghoy, Matthew Gibson, Scott Green, Tannia

Gujanto, Joe Harris, Larissa Harris, Jane Henry, Lisa

Huy, Aris Izmirlian, Michael Jackson, Yu Jing, Leanne

Jones, Matt Kennedy, Haisam Khanat, Megan

Lawson, Kukama LelilioSiu, Akanesi Magele, Denny

Mankin, Juan Mantes, Glenn McDonald, Nathan

Medhurst, Mitchell Montgomery, Brooke Moretti,

Hailezelaise Nauer, Kristian Nedeljkovic, Maata

Ngatai, Solina Ngov, Caroline Nguyen, Quoc

Nguyen, Thi Nguyen, Toakase Nuku, Swee Ong,

Doris Pace, Melanie Pace, Faye Pating, Antonio

Pavez, Tanya Pavez, Keith Penman, Sopha

Phimmasone, Nilantha Pohorambage, Randil

Pohorambage, Santhush Pohorambage, George

Popovski, Victoria Potifara, William Power, Ronald

Prasad, Fernando Puglia, Alex Rivera, Benjamin

Robins, Andrew Robinson, James Rullo, Tarek

Saad, Melona Sabellano, Abubaker Samadi, Premal

Shah, Shahban Shah, Damien Shankar, Anthony

Sialavai, Dragan Simonovski, Matthew Smith, Abigail

Tago, Olomaene Tago, Potifara Tago, Dean Tanweer,

Suhandy Tengara, Fredrick Tevaga, Klara Thwaite,

Tracey Tihema, Emily Tran, James Tran, Kiec Tran,

Tin-Shing Tse, Dolores Upton, Aaron Vallely, Jordan

Velcich, Jarred Wetere, Jazmin Willcockson, Sophal

Yos.

MAINFREIGHT METRO BRISBANE Harpreet

Brar, Reece Cassidy, James Date, Damien Denning,

Marty Fry, Pardeep Gill, Cody Hart, Zuzana Horniak,

Martin James, Himesh Kamdar, Clint King, Paris

Knight, Peter Mclean, Nima Najafpour, Patrick

Nicula, Steven Pomeroy, Manoj Punj, Gurjot Singh,

Harminder Singh, Harvinder Singh, Josephine Smith,

Michael Walker, Yong Zhu.

MAINFREIGHT METRO

MELBOURNE

Meron Ashebire, Yilma Asherbire,

Jim Aygun, Fadia Barkho, Lanelle Barkho, Timothy

Brown, Nicholas Cerchiara, Kolio Falealii, Rifet

Gorovic, Parminder Handa, Imraan Haylaz, Bob

Inoue, Jovan Jovanovski, Peter Klein, Stevo

Krstevski, Minh Lam, Stephanie Marroun, Bereket

Mulholland, Xuan Minh Phan, Ozkan Sener, Bikramjit

Singh, Gurjeet Singh, Jassi Singh, Kuldeep Singh,

Rajinder Singh, Sharan Singh, Varinder Singh.

MAINFREIGHT METRO SYDNEY Ravinesh Singh,

Arthur Alexiou, Jayraj Amrutlal Panchal, Mohammed

Ashifdar, Dallas Blitvic, Deni Bozinovski, Alan Brown,

Mitchell Burnside, Francisco Candido De

SouFerreira, Jiri Chek, Ethan Cole, Tony Dimovski,

Ngoc (David) Dinh Nguyen, Samer Fawaz, Andrew

Gailani, Rgheed Ghdhaib, Habib Hadi, Kylie Jones,

Paul Jones, Kire Josevski, Nick Karapalevski,

Andrew Kumar, Thanh Le, Yong Li, Christopher

Maggs, Kerin Mamo, Zac Mohamad, Hamza

Mustapha, Selvakumar Navarathinam, Thai Nguyen,

Ricardo Odiamar Pan, Kirtesh Parsunath Baran,

Gaya Prasad, Lindsay Puckeridge, Ali Rahal, Atma

Ram, Mike (Mihindu) Ratnayake, Maetham Salah

Zeebala, Sujeet Singh, Craig Smith, Xingzhi (Didy)

Sun, Saso Sutarov, Nikolce Tasevski, Joshua Taylor,

Goranco Trajkoski, Monathal Yousif, Ghulam Zohori.

OWENS BRISBANE Shareen Ali, Daniel

Andrasescu, Paul Bellamy, Desmond Bertram,

Darren Copland, Jamie Davis, Steve Dibley, Nunzio

Fichera, Shaun Gilmour, Daniel Key, Ron Llewellyn,

Fereniki Londy, Jakeb Lucht, Lisa Mahy, Rhys Mahy,

Kristie McKenna, Murray McMahon, Jason Moore,

Robert Henry Ngamoki, Ezechil Opris, Kane Pinney,

Dana Powell, Matt Provost, Charles Ratahi, Adam

Real, Mark Redman, Brit Reynish, Mustafa Rezaie,

David Sandor, Tibor Sandor, Rod Sheriff, Kelly

Shortall, Davinder Singh, Gurbrinder Singh, Jack

Singh, Jasjamjit Singh, Manbir Singh, Sukhdev

(Harry) Singh, Leigh Stephenson, Mick Stevanovic,

Timothy Stewart, Zoltan Takacs, Tony Youssef.


OWENS MELBOURNE

Robert Amenta, Nick

Apostolovski, Zlate Apostolovski, Neville Bajic,

James Bennett, Gaurav Bhatti, Ian Callen, Michael

Campbell, Jessica Clayton, Anthony Coles, Mathew

Coles, Jose Jnr Conejera, Jose Snr Conejera, Greg

Cook, Blair Cooper, Roderick Douglas, Roderick

Douglas, Krystal Fox, Peter Fox, Jonathon Galluzzo,

Manuel Goncalves, Jake Hedley, Tony Henderson,

Melanie Hynd, Monty Khaira, Raj Kumar, Barry Lynn,

Antony Papalia, Rodney Patterson, Narinder Rai,

Josue Romero Rodriguez, Nigel Rouse, Martin

Sammut, Baljinder Singh, Gary Singh, Gurvinder

Singh, TJ Singh, Gary Singh Sandhu, Harjinder

Singh Sandhu, Andrew Smith, Ross Turner, Nathan

Zahra.

OWENS PERTH Martin Buckland, Samantha

Cox, John Drewell, Mark Dwight, Sergio Gabelic,

Nigel Leggett, Tristan McFarlane, Tony Pain, Gemma

Philpott, Gethash Ramlukun, Gurjant Randhawa,

Jarryd Reeve, Sumit Sehgal, Paul Sheppard, Carl

Simons, Gurvir Singh, Harwinder Singh, Tejwant

Singh, Netana Tauhinu, Jason Templeman, James

Trinidad.

OWENS SYDNEY Jessica Adamson,

Jordan Andersen, Hugh Blaxland, Mark Boyd, Mende

Bozinovski, Stephen Butler, Roberto Catalano, Sam

Catena, Hirdesh Chand, Craig Connors, Nick

Dimitropoulos, Damen England, George Evangelou,

Glen Finlay, Nicholas Francis, Dario Fredotovic,

Benjamin Gilks, Oguzhan Gozubuyijk, Vangel

Gramosli, Jobelle Guibani, Brian Hogarty, Keith

Jones, Paul Jordon, Bobi Karaguleski, Zinal Khan,

Peter Kolozos, Paul Konstantinidis, Dave Lembke, Ali

Madrajat, George Mantzakos, Dean Marks, Glenn

Marshall, Paul McCracken, Tristram McKay, Vale

McKenzie, Joseph Meteka, Robert Michael, Cristian

Montoya Brohoquis, Cuong Nguyen, Emily Nicholls,

Christina Papoulia, Marcus Peat, Van Pham, Reino

Repo, Ljupco Ribarevski, Josephine Riservato,

Pasqua Riservato, Annalisa-Maria Rizzo, Oliver

Rozario, James Russell, Fares Saad, Graham Stone,

Keith Stone, Ronald Stone, Graeme Syphers, Thanh

Tran, Emily Tuitufu, Eddy Wosik, George Xenos,

Sotirios Xenos, George Zernelis, Mike Reid, Karyn

Seed.

TRAINING TEAM AUSTRALIA Gabrielle

Àrena, Sarah Averill, Katherine Becker, Troy Bennett,

Dale Cranston, Katrina DeKoning,Gabrielle Fage,

Natalina Fisher, Rachel Hilton, Iupita Lotoaso, Aaron

Louws, Kelsey Mitchell, Colleen Moore, Shona Taylor,

Gabriella Vlasblom, Samantha Ward.

dar Clint King Parisar Clint King Parar Clint King PaClint King PClint King PClint KingClint Kingint Kingnt Kint Kin

ASIA CAROTRANS GUANGZHOU Lance
Feng, Kidd Li, Lousie Zheng.

CAROTRANS

HONG KONG

Meki Chan, Ray Chan, Coey

Cheuk, Abe Cheung, Carol Lam, Shing Lam,

Ivan Lau, Perry Lau, Sharon Lee, Judy Leung,

Chloe Ngai, Elton Poon, Melinda She, Pearl

Sze-To, Suki Wai, Daffy Wong.

CAROTRANS

SHANGHAI

Jeff Bian, Yuki Dong, Riyo Jiang,

Lawrence Qin, Helen Sun, Benny Tang, Sarah

Yuan, Gary Zhang

CAROTRANS SHENZHEN

Danny Lan, Susan Su, Crystal Wang, Cathy

Zou. CAROTRANS KAOHSIUNG Annie

Chou, Jean Liu, Sam Tu. CAROTRANS

TAIPEI

Jimmy Chien, Nico Kuo, Eva Lin, Lily

Shen, Chloe Wu, Egbert Yu. MAINFREIGHT

BEIJING

Dave Li, Grace Mu, Catherine Xie,

Johnny Zhang, Fiona Zhao. MAINFREIGHT

CHENGDU

Zoe Cao, Paul Chen, Ada Dai,

Share Du, Linda Fan, Bubble Guo, Joy Guo,

Abby Han, Julia Jia, Benny Liu, Summer

Luo, Enid Shi, Connie Sun, Summer Wang,

Lumi Xiao, Ariel Xie, Rhea Xu, Afra Yang,

Joyce Yuan, Canace Zhou.

MAINFREIGHT

GUANGZHOU

Ben Chen, Ivan Chen, Yoyo

Chen, Lin Cheng, Dick Deng, Lynn Hu, Vincent

Lee, Jane Liu, Judy Liu, Natalie Liu, Ray Liu,

Cecilia Luo, Wendy Niu, Anita Su, Candice Tan,

Angela Wang, Castie Wu.

MAINFREIGHT

HONG KONG

Andrew Chan, Edwin Chan,

Joe Chan, Stanley Chan, Jerry Chan, Wilson

Chen, Edmond Cheng, Benni Cheung, Cecilia

Cheung, Eddie Cheung, Connie Cho, Clement

Chong, Queenie Chong, Mapy Chow, Alex

Chung, Cary Chung, Sam Fung, Vincent

Fung, Elly Fung, Susan He, Joe Hsieh, Winnie

Huen, Franklin Hui, Noel Kong, Timothy Kong,

Kurt Kwan, Steve Lai, Tim Lai, Franky Lam,

Ivan Lam, Ivy Lam, Jacky Lam, Yuk Lam,

Gary Lau, Joyce Lau, Kittie Lau, Jouann Lee,

Matthew Lee, Wayne Lee, Joe Lee, Jason

Leung, Kathy Leung, Dennis Li, Raymond

Lo, Franky Lui, Jaimie Nip, Ambrose So, Burt

So, Duncan Tang, Ricky Tong, Fannie Tsang,

Magic Tsang, Janly Wai, Chloe Wong, Crystal

Wong, Michelle Wong, Nicky Wong, Rose

Wong, Nam Wu, Max Yeung, Michelle Yip, Kris

Yu, CK Yuen Yuen, Lisa Yuen, Sherman Yuen,

Nichi Zhui.

MAINFREIGHT NINGBO Bobo

Cai, Vicky Chen, Vivi Chen Chen, Charlie He,

Jane Ke, Frank Li, Lisa Li, Rain Shan, Andy

Sun, Sunny Sun, Emily Wu, Michelle Wu, Carl

Xu, Joice Xu, Cindy Yang, Linda Yang, Paul

Ye.

MAINFREIGHT QINGDAO Rex Gao,

Gary Hu, Eva Jiang, Monica Jiao, Helena

Li, Neil Li, Tiger Li, Aileen Sun, Steven Sun,

Never Xu, Daniel Xue, Miki Yuan, Vicky Zhao.


MAINFREIGHT SHANGHAI

Joy Cai, Leo

Cai, Squall Cai, Clark Chen, Neal Chen, Kevin

Dai, Caroline Ding, Tweety Ding, Kenny Dong,

Joanna Fan, Nancy Fan, Roney Fang, Frank

Fei, Tim Gong, Jane Gu, Alex Guo, Bella He,

Patrick He, Peter Huang, Joan Ji, Lan Ji, Mary

Jiang, Terry Jiang, Lydia Jin, Alen Li, Daisy

Li, Joyce Li, Andy Liu, Anny Liu, Tom Liu, Ice

Lu, Olivia Lu, Rody Luo, Echo Mao, Cindy Qi,

John Qin, Miko Ren, Max Shen, Jenny Shui,

Kevin Song, Eric Sun, Lillian Sun, Joki Tan,

Penny Tang, Cherry Wang, Cici Wang, Steven

Wang, Wing Wang, Aaron Wu, Enali Wu, Matt

Xu, Michael Xu, Una Xu, Yuki Xu, Wintour

Yan, Jerry Yang, Lily Yang, Eddy Yao, Doris

Yuan, Billy Zhang, Jessie Zhang, Vivien Zhang,

Zues Zhang, Ada Zhao, Minnie Zhao, Zoey

Zhou, Apple Zhu, Wind Zhu.

MAINFREIGHT

SHENZHEN

Cloris Chen, Steven Chen, Healer

Diao, Lora Ding, Dora He, Jane Huang, Dylan

Ji, Cara Li, Fionn Li, Sasa Liang, Sunny Lin,

Jemma Liu, Letina Liu, Vincent Sun, Linda

Wang, Soy Wu, Lucy Xiong, Sindy Yang,

Paul Yuan, Xuan Zeng, Cindy Zhang, Seven

Zhang, Shayne Zhang, Symia Zhang, Yukey

Zhang, Jenny Zhong, Canni Zou, Lily Zou.

MAINFREIGHT TIANJIN Sage Chang, Carol

Chen, Eileen Feng, Jason Jiang, Aaron Liu,

Momo Ma, Jenny Niu, Carson Sun, Wendy

Tian, Tracy Xu.

MAINFREIGHT XIAMEN

Renny Chen, Roy Chen, Sally Chen, Tina Chen,

Colin Cheng, Jessica Chou, Cathy Gong, Andy

Guo, Will Li, Johnson Lin, Bressanone Zhu.

MAINFREIGHT KAOHSIUNG Joanna Bao,

Angie Chen, Mia Cheng, James Hsiao, Joyce

Huang, Queenie Lee, Rachel Ma.

MAINFREIGHT TAIPEI Zoeie Chao, Josephine

Chen, Nicole Chen, Andy Hsu, Aria Hung,

Sindy Lee, Angelic Lin, Jessie Lin, Eric Peng,

Hank She, Stanley Su, Jessica Wu, Shana Wu.

MAINFREIGHT THAILAND Pattamanun

Anuchitananon, Sukanya Boonrueng, Withanya

Ceetantivech, Saowanee Chaiparinya, Nawarat

Chalitapanukul, Chatchawan Channim, Pairin

Chuenchairiam, Wuttichai Intarasil, Patcharin

Jakarathorn, Narirat Koksanthia, Jarupa

Pengjam, Peeyaporn Puangkheaw, Jidapa

Saeyab, Virongrong Sangkaew, Krissana

Sangpao, Kasidit Sarapanwong, Supang

Somboonkusolsil, Sommai Trakarnrung, Jinjuta

Woranit.

MAINFREIGHT VIETNAM Ryou Bui,

Chau Cao, Khang Ha, Daisy Luong, Nina Mai,

Sera Ngo, Anna Nguyen, Cindy Nguyen, Helen

Nguyen, Thuong Nguyen, Rita Pham, Lucas

Phu, Sandy Tran.

MAINLINE SINGAPORE

Ching Kwee Shyan Ching, Chua Bee Eng Chua,

Huang Yong Goh, Karen Goh, Hii Pee Hui Hii,

Dominic Yeung.

AMERICAS

CANADA MAINFREIGHT

TORONTO

Dean Baran, Sara Bennis, Alex

Borghello, Sean McGrattan, Shawn Roach,

Mike Thompson, Rene Van Houtum.

MAINFREIGHT AIR & OCEAN TORONTO

Gustavo Amorim, Bogi Compton, David Frisina,

Inna Gilevich, Jason Grover, Andrew Hall,

James McWilliam, Stacey Mitchell, Paul Ody,

Anna Pazynich, Erin Smith.

CHILE

CAROTRANS SANTIAGO

Diego Burgos,

Miguel Cuevas, Marcelo Hermosilla, Hector

Lara, Barbara Macias, Francisco Melo, Beatriz

Osorio, Daniela Vasquez.

MEXICO

MAINFREIGHT MEXICO CITY

Pamela Angel

De la Rosa, Ana Cristina Cornejo, Hector

Miguel Guerrero Lopez, Karenina Luna,

Elizabeth Angelica Montiel Galan, Argenis

Rodrigo Ortiz Mendez, Kennia Analaura Perez

Viquez, Guido Fernando Ruiz Polo, Guillermo

Alberto Tena Mercado, Azucena de Jesús

Toledo, Brenda Vázquez Martinez.

MAINFREIGHT QUERETARO Ivan Garcia,

Angelica Sais Insunza.

USA CAROTRANS

ATLANTA

Alice Macgregor, Veronica Schock,

William Young.

CAROTRANS BALTIMORE

Michelle Allison, Damilola Balogun, Marcos

Cazares, Steve Greenfield, Susan Kahl, Lisa

Tryon.

CAROTRANS BOSTON James

Bradley, Hiwot Kebede, Joseph Kleinmann,

Brian Moorhead, Ede Salvadore, Qing Zhou.

CAROTRANS CHARLESTON Milos Baric,

Renee Basnett, James Bayne, Jessica Blaszak,

Lisa Crabbe, Kelly Creson, Wicks Dickson,

Kellyanne Dix, Beth Embry, Clay Jones, Tyler

Nichols, Colin O'Donnel, Sarah Rosal, Mark

Stowell.

CAROTRANS CHARLOTTE Shelly

Bisanar, Jamie Gunnells, Christopher

Montgomery, Tyrone Neville, April Pride, Craig

Stukey, Yenny Villafuerte.

CAROTRANS

CHICAGO

Brian Allcorn, Nicole Bobor, Lisa

Brach, Jasmyne Brown Roberts, Janice

Brunning, Olga Cazares, Elisabeth Conboy,

Dagmara Derlaga, Araceli Dominguez, Sara

Faddah, Elzbieta Filipek, Karen Flores Espinosa,

Gladys Garza, Susan Hicks, Jamie Houlihan,

Takehito Kashiwabara, Debbie Klodzinski, Rita

Kollias, Peter Kowalski, Carol Malak, Timothy

Merchut, Fiorella Meza, Mark Milan, Patricia

Moran, Nicole Muschong, Lynn Ocasio,

Catherine Petersen, Grace Sarsfield, James

Stutzman, David Valadez, Ana Vietoris, Anna

Villafane, Andrew Weisse, Ana Zarco, Joseph

Zeno.

CAROTRANS CLEVELAND Diana

Beaman, Annamaria George, April June, Abigail

Malson, Magdalena Piktel, Lori Radca, Heather

Roe, Whitney Williams, Andrew Zapinski.

CAROTRANS DALLAS Krystle Bouchahine,

Thomas Cussen, Lauren Hatley, Mylinda

Winton.

CAROTRANS HOUSTON

Mariajanette Espinoza, Criselda Garza, Norman

Johnson, Aleksandr Kosachev, Justin Martin,

Theresa Maxie, Joshua Namee, Tayre Reyes.

CAROTRANS INDIANAPOLIS Kristine

Connolly, Virginia Valentine. CAROTRANS LOS

ANGELES

Maria Aldana, Cameron Bemis,

Dicarlo Bennett, Maria Bitong Noche, Lueder

Bitter, Kari Christopher, Lorenzo Cometa,

Andrew Dickie, David Duyao, Elsa Gomez,

Oscar Gudino, Miguel Hernandez,

Siamack Heshmati, Norihiro Hisanaga, Theresa

Iamaleava, Darren Justice, Derek King,

Claudette Kwiat, Eduardo Lemus, Jeremy

Long, Patricia Maahs, Meha Marathe, Melina

Martinez, Jazmine Medina, Jennifer Miller,

Robert Ramirez, Carol Rebullar, Diana

Sepulveda, Mark Taitingfong, Rowina Tauanuu,

Gilbert Tolentino, Christina Towne, Christopher

Wilson.

CAROTRANS MIAMI Deuris Aguiar

Naranjo, Roberto Ayala, Bruno Barbi, Ana

Bermeo, Rocio Diaz, Roger Estrada, Gregory

Meier, Susana Melara, Juan Melendez, Bryan

Meza, Daniel Orihuela, Jeniffer Possebon, Cindy

Rafart, Jacqueline Ramos, Hugo Sequeira,

Christian Supplice, Branko Tomicic, Maria

Veiga.

CAROTRANS NEW JERSEY

Christopher Ablanedo, Stephanie Adago,

Oluseun Afolabi, Blanca Aguirre, Jessica

Almonte, Catarina Alves, Maria Amorim,

Takahiro Arima, Richard Awansi, Erik Berger,

Kai Campbell, Michelle Chan, Janae Chandler,

Kerry Conn, Nadiyah Dabney, Gary Dreuer,

Christina Egan, Natalie Espino, Christina

Georgiou, Misa Hernandez, Ken Hogan, Shalise

Hughes, Antanina Imbriaco, Christopher

Johnson, Latonia Kornegay, Janet Lanni, Laura

Litchholt, Samuel Martinez-Arias, Debra

McCarty, Michelle McGrath, Kevin Meza,

Kenneth Millroy, Jessica Murphy, Camise

Normil, Diane Pirozzi, Kelly Preziosa, Andrea

Quito, Lauren Rainey, Kelly Rodriguez, Nicole

Salcedo-Twaddle, Julianne Santiago, Ellen

Shindle, Nancy Silva, Dillon Smith, Matthew

Spartz, Philip Szumanski, Zamary Vargas,

Jeryck Villahermosa, Mary White, Heidi Zhao.

CAROTRANS SEATTLE Milton Carballo,

Andrea Cherry, Andrew Garrido, Ryan Ritchie,

Adam Whelpley.

MAINFREIGHT ALBANY

Scott Avery, Colin Bunce, Jeffrey Burke, Eileen

Ceccucci, Frances Fairall, Lisa Gaetano, Brian

Gallagher, Bryce Hicks, Natalya Ivashina,

Rebecca Lahart, Agnes Maciorowski, Michael

Morrissey, Robert Narcavage, Sincerity

Nomahegan, Elinor Rees, Nolan Sutton, Tracy

Zayac.

MAINFREIGHT ATLANTA Brendon

Belesky, Michael Benjamin, Bryan Burton,

Patrick Edd, Curry Fetcher, Gye Griffin, Brian

Martin, Matthew Mayville, Lavon McCord,

Valencia McCree, Lanora Norton, Sean Phelan,

Ashley Render, Beth Rosenbrock, Michelle

Smith, Austin Tyler, Jordan Walter, Kaycie

Young.

MAINFREIGHT CHARLOTTE Nicole

Boccia, Johnny Collins, Scott Hopkins,

Matthew Mays, Robert Nsonwu-Farmer, Julie

Power, Adam Renner, Michael Rosenbrock,

Amy Walker, Robert West.

MAINFREIGHT

CHICAGO

Kent Anderson, Eric Bell, Suzanne

Berner, Michael Broglin, Emma Byall, Ewa

Cazares, Edward Chamberlain, Fred Erhardt,

Brandon Fischer, Adrian Gallardo, Jasmine

Gonzalez, Elizabeth Guerra, Matthew

Gustafson, Lori Hageline, Elizabeth Hickey,

Mark Hines, Donald Hull, Marco Iannessa, Mark

Kral, Thomas Kurtzer, Anthony Loris, Taras

Maksymovych, Annalisa Marchiafava, Danny

Mason, Mary Mumper, Kiley Ogden, Nathaniel

Page, Julio Prieto, Michael Redden, David

Rogalski, Christopher Ruiz, Juan Sanchez,

Desiree Santos, Matthew Shatswell, Jon Shaw,

Davita Smith, Riley Tryhorn, Erik Weidner, Justin

Yonkelowitz, Rauf Yussuf.

MAINFREIGHT

COLUMBUS

Sherry Bivens, Jeffrey Infield,

Christopher Khan, Jason Meyer, Steven Rea,

Tonia Uhrig.

MAINFREIGHT DALLAS Lane

Adamson, Richard Aitken, Shelley Aldaco,

Misae Amemiya, Gloria Barron, Eahou Barta,

Willie Brewer, Mary Buck, Ashley Burns, Ana

Calderon, Kathryn Campbell, Andrew Coulton,

Diane Cox, Marty Cryer, Richard Dean, Kyle

Evans, Brandon Fuller, Monique Garcia, Antonio

Garza, Ronny Garza, Michael Gillaspie, Thomas

Goodfallow, Elsa Guzman, Karina Guzman,

Deborah Hendrix, Johnny-Angel Hernandez,

Shelby Hill, Wesley Hutchings, Phillip James,

Jordan Karnes, Akshay Kothari, Erin Lewis,

Quincy Lewis, Valerie Lewis, Todd Luney,

Eduardo Marenco, Michelle McClanahan,

Stefanie McGaughy, Miguel Morales, Marshall

Oxentine, Elsi Pacheco, Janesh Patel, Elizabeth

Penney, Elizabeth Plaster, Donna Ridgeway,

Nicholas Rochowski, Tiffany Saddler, Anthony

Salamino, Victoria Schomas, Seth Sefah,

Camille Shocair, Jeffrey Solbrack, Scott Sprick,

Amy Strong, John Taylor, Kristofer Wilson.

MAINFREIGHT DETRIOT Edward

Richardson, Jacob Varcie.

MAINFREIGHT

HOUSTON

Zachary Abeyta, Carol Beilman,

Matthew Britton, Linda Callahan, Helen

Docherty, Lawrence Drucker, Freddie Gonzales,

Sara Gravely, Blanca Holliday, Lori Hull Garcia,

Peter Joyce, Trevor Kubera, Merrilee Levine,

Sydney Littlejohn, Paula Minor, Daniel Overton,

Danielle Perkins, Ronald Rodriguez, Cheryl

Rogers, Scott Rood, Kristian Stone, Jennifer

Stooksberry, Terrence Wakefield.

MAINFREIGHT LAREDO Brenda Gloria,

Roberto Ortiz, Reynaldo Rodriguez.

MAINFREIGHT LOS ANGELES Jose Aguilar,

Jose Aguirre, Ana Alvarez, Alonzo Alviso,

Robert Andrews, Javier Angulo, Manuel Arceo,

Dee Armstrong, Angel Arroyo, McDaniel Belony,

Linda Bettencourt, Ryan Betts, Edward

Blancarte, Melissa Bowder, Peter Burke,

Christopher Burton, Rodney Buskeness,

Matthew Cable, Armando Camarena, Raquel

Canas-Thompson, Eva Caruso, Brian Cason,

Alexis Castro, Jhovanny Castro, Nelson

Cheung, Janet Clark, Kenny Cobos, Richard

Cohuo, Mauricio Colocho, Robert Comfort,

Abraham Cortez, Stephen Curle, Lance Dailey,

Bharat Dambal, Maryjane Dauis, Kathy

Dawkins, Analisa Dennis, Harsh Dharamshi,

Elizabeth Duran, Peter Dyeremose, Celine

Eazell, George Ehrreich, Taschana Epps,

Jacqueline Estrada, Jacob Fallon, Michael

Forkenbrock, Ronald Frady, Byron Franks,

Veronica Friedland, Matthew Friedman,

Jacqueline Ganther, Isaac Gettis, Raewyn

Glamuzina, Eric Gonzalez, Jeremiah Gregersen,

Ernie Griego, Joyce Guillen-Cox, Matthew

Halpin, Laurie Hamid, Brian Heidrich, John

Hepworth, Lisa Herrera, Judy Hua, Ajanae

Hunter, Nicholas Ireland, Patricia Jimenez,

Roxana Jimenez, Debra Johnson, Seife Kidane,

Michelle King, Jonathan Kirwan, Carlos

Labrada, Talia Lamiano, Alexander Lasota,

Abraham Leandro, Esperanza Leanos, Jason

Lee, Christopher Leighton, Jeffrey LeMaster,

John Lewczyk, Kara Lewczyk, Theodore Locke,

Daniel Lund, Elisa Lupian, Alan Martinez,

Desiree Martinez, Henry Martinez, Laila

Martinez, Barry McLemore, Jorge Mejia,

German Mendoza, Victor Mendoza, Thomas

Merriman, Janeth Meza, Maree Michalick,

Shane Michalick, William Minard, Marissa

Monteroso, Alba Montes, Elizabeth Moore,

Rigoberto Mora, Marie Morales, Michelle

Morales, Angus Morrissy, Michael Moval, Silvia

Mueller-Thompson, Jesus Munguia, Jeffrey

Nallick, Mark Neumann, Kimberly Nguyen,

Christina Nielsen, Nicholas O’Brian, Erik Ohler,

Daniel Ortiz, Maria Ortiz, Michael Paynter,

Simon Perez, Sandra Phillips, Ivan Ramirez,

Victor Ramirez, Craig Robb, Stephanie

Rodrigues, Olivia Rodriguez, Karen Rogers,

Alma Rosa, Juan Sagrero, Homayoun Sahafi,

Kulmohit Sandhu, James Seifert, Paul Sharpe,

Daniel Smeltzer, Anita Smith, Yung Sun, Rex

Hubert Tan, Jaime Tapia, Nathan Thomas,

Mieko Thompson, Eric To, Cesar Torres, Susan

Tziboy, Benjamin Ushkow, Thomas Valentine,

Carl Vangorden, Zachary Vann, Isela Vazquez,

Armando Velasquez, Nicholas Vernald, Lilia

Villanera, Denise Von Roishmandt, Regina

Warden, Susan Weiher, Dallas Wymes, Jaime

Zamora-Gutierrez, Anthony Zepeda.

MAINFREIGHT MCALLEN Rafael Garcia,

Jose Gurrola, Christian Magana, Cruz Polanco,

Benito Salinas, Giovanna Zanetti.

MAINFREIGHT MIAMI Yoelis Estevez, Doris

Gomez, Fernanda Moraes, Jennifer Pedreira,

Pedro Pombo, Eduardo Rivera, Nicole Szelest,

Victoria Whalen.

MAINFREIGHT

MINNEAPOLIS

Scott Brunclik, Jaclyn Collins,

Justin Ellingson, Heather Zoccoli.

MAINFREIGHT NEWARK Sylvia

Arroyo-Pazmino, Carol Bausch, Patricia Bercy,

Edgar Berrios, Shirley Branch, Jules

Branswyck, David Bubb, Jonas Busse,

Stephen Cacnio, Rosaura Candelario, Carmen

Caroleo, Svend Christensen, Christine Correia,

Eliezer Fernandez-Medina, Aden Gelmi, Daniel

Hansen, Rodney Harris, Cole Hopper,

Emmaline Howard-Smith, MaryAnn Kish, Peter

Kruszewski, Freddy Landaverde, Kevin

Landaverde, Bryan Landin, Terry Lindell,

Vincent Marciano, Anthony Mazza, Luis Medina,

Jose Melendez, Jake Moller, Maritza Patricio,

Timothy Pinckney, Dries Pinoy, Steven

Plummer, Stephanie Quinonez, Yury Ramirez,

Ronald Rhodes, Julia Riker, Moises Rodriguez,

Oscar Rossini, Deborah Rumore, Chandell

Russell, Robert Siuzdak, Richard Smith, Eric

Stockl, Matthew Stuebe, Christopher Taylor,

Danielle Torsiello, Steven Verrismo, Hobyung Yi.

MAINFREIGHT NORFOLK Stephen

Harklerode, Nancy Sanchez.

MAINFREIGHT

PHILADELPHIA

Robert Coghlan, David

Cunningham, Jillian Darrow, Matthew Gummel,

David Hallinan, William McClay.

ASIA

AMERICAS

MAINFREIGHT PORTLAND Caitlin
Balderrama, Jacqueline D’Angelico,

Brian Donahue, Tareq Hunaidi, Angelica

Jaracuaro, Daniel Kinoshita, Weston Martin,

Kirsten Pomeroy, Ramine Ravanbakhsh.

MAINFREIGHT SAN DIEGO Karen Amador,

David Enriquez, Luke Hamilton, Jessica Hayes,

Erika Heguy, Luis Isais, Kim Nguyen, Ariana

Prado.

MAINFREIGHT USA SUPPORT

CENTER PHOENIX

Joseph Brouillard,

Griselda Chavez, Sergio Chavez, Rameina

Gewargis, Michelle Grabek, Aaron Grewal,

Daniel Hutcheson, Coral Schultz, Jeremy

Thomas, Ami Todd, Stephanie Walton.

EUROPE

BELGIUM MAINFREIGHT

ANTWERP

Mats Algoet, Wannes Jansen,

Samira Labraymi, Patrick van der Hoek,

Konstantin Yakovlev. MAINFREIGHT

BRUSSELS

Katrien Baes, Glen De Snijder,

Aline Draps, Elke Loockx, Maria Catalina

Munteanu, Rita Rassalle, Marie Tisson, Ines

Waegemans, Laura Zenebergh.

MAINFREIGHT / SYSTEMPLUS GENK

Hamid Abbou, Yannick Adriaensen, Sandro

Arena, Osman Biberoglu, Geert Biesmans,

Tanja Biets, Abdelhadi Birbouz, Abderrahim

Birbouz, Johnny Brouns, Liselotte Camps, Ine

Caymax, Wouter Conings, Jeroen Creyns,

Christophe De Backer, Domenico De Nicolo,

Peter Decock, Daniel Di Pardo, David Dops,

Toufik El Khiari, Farid Farchich, Jan Fijol, Fatih

Gezginci, Joris Indeherberg, Dimitri Kubiczek,

Jochen Lemmens, Ivo Leurs, Karen Liesens,

Ann Loos, Thijs Mertens, Debby Missfeldt,

Dennis Moelans, Stijn Mulders, Karolien

Orlandini, Nicolas Pouet, Marleen Saeren,

Roberto Spiga, Eddy Stals, Erik Stas, Brent

Sybers, Ronny Van Cauter, Astrid Van

Cauwelaert, Ingmar Vandebroek, Tom

Vandeurzen, Ann Vanhaeren, Maarten

Vannoppen, Dimitri Vennekens, Tom Verlinden,

Arno Wackerghom, Parcifal Wackerghom,

Zekeriya Yildiz.

MAINFREIGHT OOSTENDE

Qais Al-Dulaimi, Jos Allemeersch, Ignace

Arnou, Assaad Banjak, Roger Blanckaert,

Carine Bovy, Annick Brokken, Neil Calingaert,

Stephanie Camerlynck, Mario Carette, Annemie

Casier, Naida Claes, Kristof Cool, Jimmy

Cooleman, Alex Corbisier, Bart Cornille, Danny

Craeye, Eddy Cuylle, Philippe David, Bruno De

Bruyn, Alain De Corte, Thomas De Gols, Dirk

De Maeseneer, Danny De Meyer, Alex De Nijs,

Romina De Smul, Tom De Walsche, Didier De

Wannemacker, Pascal Debrabandere,

Jean-Pierre Declercq, Peter Deconijnck, Maxim

Defer, Franky Delanghe, Serioja Delrue, Mario

Demey, Marc Denecker, Aude Derycke,

Brandon Desaever, Jan Desmet, Celine Devloo,

Karel Devogeleer, Lili Devriendt, Nicolas Dubois,

Udo Engels, Cengiz Fani, Henk Feys, Griet

Fleerackers, Sander Flore, Eline Floryn, Miguel

Focke, Wim Foulon, Kevin Gailliaert, Francois

Gesquiere, Christophe Goossens, Hannes

Gunst, Sabrina Haeghebaert, Coraline

Haelvoet, Davy Haers, Jessy Hardy, Daniel

Helsen, Wilfried Hullebus, Cedric Immesoete,

Roland Janssen, Pascal Janssens, Yves

Janssens, Frederik Jonnaert, Yves Knockaert,

Kamil Krempa, Sylwia Kuczynska, Jozef

Kujawa, Glenn Labens, Bryan Laga, Filip Laga,

Delphine Lefere, Filip Legiest, Marie Christine

Lesage, Oleg Logounovitch, Veronique

Lootens, Marc Maerten, Romain Maes, Jean

Manoula, Marc Marey, Joris Martens, Monaam

Moknassi, Philemon Moyersoon, Khenji Mylle,

Kindanda Fidele Nzuzi, Tom Oosterwaal, Chris

Osstyn, Walter Parmentier, Thomas Pier,

Liesbeth Pierloot, Katrien Portier, Dirk Ragaert,

Jamshid Rezaie, Peter Sabbe, Khalifa Salek,

Louise Samyn, Yves Scherpereel, Sandy Scy,

Christian Sergeant, Marlies Sevenhant, Manga

Singh, Piotr Sitko, Felix Smeyers, Farid

Souaddi, Marc Speliers, Guido Staels, Jerry

Synaeve, Jorit Sys, Lynn Thijs, Julie Tolpe,

Dimitri Torreele, Stefaan Van Aken, Willem Van

Besouw, Joren Van Den Berg, Franck Van Der

Heyde, Martine Van Hyfte, Yves Van Vooren,

Pascal Vancoetsem, Katrien Vanden

Eeckhoute, Rudy Vandewalle, Sofie Vanhee,

Ariane Vanhooren, Frederic Vanmeenen, Jos

Vanmullem, Andy Verbrugghe, Stefaan

Vercruysse, Vincent Verduyn, Carl Verhulst,

Joke Verkempinck, Serge Vermander,

Wim Verpoort, Ingeborg Verschorre, Melissa

Verstraete, Patrick Volbrecht, Nick Wyns,

Sander Xhajaj, Daniel Zonnekein.

MAINFREIGHT LOGISTICS GENT Stephen

Addae, Anke Geebelen, Dimitri Hautekeete,

Kevin Mestdagh, Nikolaj Moens.

MAINFREIGHT LOGISTICS OOSTENDE

Fadi Abdulghani, Salvadi Adilsoultanov, Glenn

Ampe, Johan Baudewyn, Stephanie Baudot,

Johnny Beddeleem, Quentin Bentein, Anzor

Beshiev, Nicky Beutels, Natalie Blomme,

Arnaud Blondeel, Nancy Bober, Killian

Bocquez, Riad Boumaza, Olga Bourtseva,

Jeffrey Broucke, Daniel Capriotti, Ivan Casier,

Alain Cauwenbergh, Alex Cazzato, Wesley

Cicou, Bruno Clybouw, Carl Criem, Miguel

Crombez, Jorge Da Rocha Azevedo, Stijn

David, Aris De Fijter, Jordy De Gheselle, Tessa

De Groote, Robin De Kock, Dennis De Meester,

Hannelore De Muynck, Joaquim De Oliveira

Gomes, Ingrid De Rechter, Robin De Sutter,

Johan Debruyne, Robert Deman, Caroline

Depuydt, Kim Desmet, Christine D’Hont, Jean

Dumon, Jimmy Duriez, Steven Duyck, Frank

Ediale, Frederik Eeckloo, Nizar El Ali, Karol Flak,

Krzystof Flak, Daisy Gaillez, Mansur Gandalojev,

Frederik Gielis, Redgy Goethals, Dylan Gouwy,

Dieter Hamers, Abdelsattar Hassan, Miguel

Hollevoet, Claudine Houkx, Sylvie Hullebus,

Dave Huwel, Glenn Huwel, Oluwashefunmi

Itomo Edward, Christa Janssens, Yury

Jolnerevitch, Eddy Jonckheere, Fabrice Junion,

Gari Justianz, Samuel Kamdem, Burim Kastrati,

Kenneth Kooy, Lukasz Kowalski, Joanna

Kujawa, Abdelaziz Labane, Filip Laleman, Peter

Laseure, Katja Lebeuf, Joke Lepeire, Massivi

Lubaki, Jason Lussaert, Shelly Lusyne, Didier

Martinat, Danny Merchie, Stacy Mesuere, Axel

Meuleman, Luc Meulemeester, Stephanie

Moyersoen, Shana Mylle, Ireneusz Niedzwiedz,

Pete Onyekwere Chukwunyere, Dicky Oppong,

Marinus Pastoor, Gilles Peere, Zsolt Petrak,

Hugo Filipe Pinto Ribeiro, Bjorn Plas, Michael

Poupart, Gregory Prevot, Veerle Ramon,

Bogdan-Ionut Rascol, Adam Rogatzky, Glenn

Rogiers, Didier Rosseel, Maxim Rosseel, Nick

Rouzere, Pol Sabbe, Sairam Saurzhanova,

Bram Schoutteten, Sinclare Scott, Andrzej

Seibert, Jean Paul Semirindi, Khurram

Shahzad, Mohammed Issa Sherzad, Hugo

Silva, Redgy Simons, Anthony Slabbinck, Tom

Slight, Nicolas Jose Soto, Rachid Taki,

Mohamad Theibich, Sebastien T’Jonck, Lukasz

Tymkiewicz, Kevin Van De Voorde, Cedric Van

Huffel, Kenneth Van Nieuwenborgh, Frederick

Van Rapenbusch, Philip Vanacker, Sylvie

Vancoppenolle, Andy Vandekerckhove,

Christiaan Vandenberghe, Isabelle

Vandenberghe, Frederik Vandenbrande,

Kenneth Vandeputte, Patrick Vandeputte,

Katrien Vandewalle, Jay Vanhou, Rudi

Vankerckhove, Rik Vanneste, Pascal Vanroose,

Steven Vansteenkiste, Ronny Vanwelsenaers,

Elisama Verheecke, Fabienne Verhelst, Sandy

Verhelst, Jacky Verlee, Marc Vermeire, Bart

Verschelde, Manu Volckaert, Linda Vyvey,

Arnold Weidler, Kevin Windelinckx, Ines

Wouters.

FRANCE MAINFREIGHT AIR &

OCEAN LE HAVRE

Clément Burgy, Gaël

Devin, Laetitia Fiolet, Marie Fohet, Carlos Daniel

Guedes Dos Santos, Laoura Khassouev,

Maxime Mazari.

MAINFREIGHT AIR &

OCEAN LYON

Florian Delarboulas, Philippe

Thomassin.

MAINFREIGHT AIR & OCEAN

PARIS

Samia Boukhoulkhal, Thomas Brieudes,

Léa Collin, Thibault Fressard, Laetitia

Gourmelen, Camille Laroche, Alain Navarron,

Véronique Sabatier.

MAINFREIGHT LYON

Mathilde Gairard, Deborah Prefot, Erick Saes.

MAINFREIGHT PARIS Martial Aberlen, Yacine

Ajmour, Teresa Aubert, Gregory Aucouturier,

Paolo Bakouma, Damien Barrault, Sonia

Basraoui, Nicolas Bertrand, Marie Bissey,

Martine Blandin, Stéphane Bobu, Jean François

Bouquet, Amel Causevic, Caroline Cordier,

Sylvie Costa Neves, Steeve Dalaize, Damien De

L’Espinay, René Claude Deblond, Kévin

Delaitre, Vincent Delpech, Marine Deniau,

Isabelle Denon, Thibault Detrouselle, Cédric

Diarra, Paola Dos Santos Evora, Nadir Dramsy,

Florian Durand, Jérémy Engelmann, Claude

Grele, Said Hannaoui, Laurent Janniaud,

Stéphanie Jasmin, Nora Jauffrion, Youssef

Jdaini, Mélodie Julien, Samuel Cedric Justine,

Moustapha Korch, Sébastien Labe, Thierry

Lacoudray, Rodolphe Lenhart, Precilia Lenogue,

Muriel Loube, Dylan Maaroufi, Charles-Henry

Maingard, Christopher Malte, Abdoulaye

Marega, Antoine Maslyczyk, Faten Meite Essid,

Thierry Moisan, Thibault Moreau, Céline Munoz,

Julien Neuschwander, Franck Pardo,

Emmanuel Peccatte, Coralie Pecho, Bruno

Pommier, Soda Ponn, Clémence Privé, Robert

Prunier, Éric Puyet, Yann Quenard, Yannick

Rodrigues Ribeiro, Arthur Roulier, Jacky

Rupaire, Christian Tchicaya, Jody Tumba,

Damien Vesse, Julien Vieville.

GERMANY

MAINFREIGHT AIR & OCEAN FRANKFURT

Patricia Cuppari, Viktoria Donst, Marcel Frank,

Niklas Gust, Aferdita Hoxha, Severin Janus,

Johanna Jurasec, Stefan Kickler, Stev Klein,

Nicole Körner, Leny Leinich, Sebastian

Maslowski, Catherine Ngafoe Nama, Matthias

Sartor, Torsten Sommer, Maria Teichmann.

ITALY MAINFREIGHT AIR & OCEAN MILAN

Giulia Colombo, Cristian Milardi, Giorgio

Mongeri, Loris Parise, Valeria Ratti, Marco

Scarantino, Emanuela Tedoldi.

NETHERLANDS MAINFREIGHT AIR &

OCEAN ROTTERDAM

Chris Arnout, Ricardo

Bello, Jason Braid, Dermot Clark, Melvin da

Luz, Boris de Puij, Ronald den Held, Nadia

Diraa, Harrold Dost, Björn Febus, Rodney

Fister, Cora Greven, Michiel Hoekstra, Bert

Hoepel, Monique Kleijburg-Streefland, Laura

Kuijpers, Mitchell Lagendijk, Liselotte Lorenzo

Sanchez, Kevin Maasbach, Maarten Mol, Lucy

Partridge, Jake Pascoe, Jasper Plugge, Rhea

Post, Remy Rosendahl, Niels Stadthouders,

Arthur van Amen, Astrid van Dam, Yvonne van

den Berg-van der Hout, Veronique van den

Berge-Peerboom, Angelique Van der

Spuij-Visser, Ramon van Hek, Matthijs van

Herk, Tom van Ree, Mariska van Schaik, Stijn

Vliegen, Jacco Wijker.

MAINFREIGHT AIR &

OCEAN SCHIPHOL

Arnold Bierma, Rob

Duijnmayer, Jeroen Geerdink, Ian Graham,

Samuel Grootjes, Esmee Heuvink, Daniel Joor,

Gideon Lioe-A-Tjam, Frederike Nordin-Stubbe,

Georgina Shelton-Agar, Mels van Egmond, Arie

van Saarloos, Robert Waasdorp.

MAINFREIGHT CLEARANCE

‘S-HEERENBERG

Petra Beumer, Angelo

Daamen, Gerrie Heering, Jacqueline

Hendriks-Ras, Fred Martens, David Pouwels,

Peggy Reinders-van Koot, Rieky te

Grootenhuis-Hebbink, Bram Tromp, Hudyta

Wieczorek.

MAINFREIGHT CROSSDOCK

‘S-HEERENBERG

Bodo Apmann, Chantal

Arts, Ibrahima Bangoura, Gert Beernink, Lucas

Berendsen, Twan Berndsen, Bastiaan

Besselink, René Bisselink, Boudewijn Bongers,

Harold Bosch, Daniël Bouwman, Jeroen

Bouwman, Tonny Buijl, Olcay Cil, Thorsten

Claassen, Bahri Coroz, Mustafa Coskun,

Ramon de Bakker, Diana Disbergen, Theo

Engelen, Gert Essink, Derk Geersing, Bart

Giesen, Hans Hageman, Jesper Heijkoop,

Patrick Helmink, Hayco Hendriks, Wilco

Hendriks, Milko Heurnink, Gerden Heymen,

Stephan Horn, Wessel Immink, Bennie Jansen,

Kai Jansen, Nick Jansen, Poldien Keurntjes,

Erol Kilicdere, William Kniest, Stefan Koolmees,

Harald Kuhfuss, Levent Kumurcu, Gerard

Kupper, Mehmet Kurum, Jeroen Lakwijk, Uwe

Lamm, Henk Lammers, Peter Langenheim,

Pascal Lieon, Ronald Luikink, Christian Mai,

Frauke Mellendijk, Björn Meunders, André

Miguel, Kay Mulder, Michael Neils, Mohamed

Osman, Eric Raaijman, Mariam Rengelink-

Bongers, Guido Roes, Jeffrey Roes, Alexander

Rudi, Rik Ruikes, Richard Ruthers, Dorie

Rutjes-Janssen, Ferit Sahin, Boris Sestakov,

Nick Sewalt, Maurice Slutter, Gerrt Steltjes, Cor

Straub, Karl Heinz Tabatt, Richie Tatoglu, Hein

te Winkel, Dewi Tebeest, Cuma Temir, Sevket

Temir, Raymong ten Haaf, Mike ten Holder,

Wesley ter Beest, Jasmijn ter Heerdt, Annette

Thiele, Etieene Thies, Ralf Timmer, Ercan Tuku,

Jan Ursinus, Sebastiaan van Aken, Jeroen van

Broeckhuijsen, Ruud van Buuren, Peter van de

Kamp, Nico van den Heuvel, Pascal van der

Meer, Rowan van Emden, Nick van Vliet,

Francis van Zelst, Lucas Veenhof, Remo

Verschueren, Willam Visser, Pascal Wevers,

Marc Wijnsema, Hennie Willemsen, Tijmen

Wisselink, Hatem Yaktemur, Haci Yildirim.

MAINFREIGHT FORWARDING

‘S-HEERENBERG

Rob Aalders, Tonnie

Abbenhuis, Mick Arendsen, Leon Bakker,

Serdar Baktir, Salih Bal, Stefan Banning, Sylvia

Bavelaar-Cowan, Ina Beekhuizen-Roes,

Pieternel Beekvelt, Tom Benning, Jordy

Bergman, Marco Berndsen, Harriëtte

Berndsen-te Dorsthorst, Edith Bijenhof-Wevers,

Rianne Bisseling, Yvonne Bleekman, Robin

Boeijink, Tanja Bondarchuk, Erik Bongaerts,

Stefan Bongers, Hans Bruggeman, Jeroen

Bruil, Robert-Jan Bruil, Randy Bruns, Iuliia

Bruns-Klepikova, Gerda Buffinga-Feddes, Rifat

Bugdayci, Ilke Bultink, Maikel de Graaf, Noah

de Jager, Janita de Jong, Jeroen de Lange,

Bob de Ruijter, Bart Decnop, Jordy Dellemann,

Menno Diepenbroek, Tania Donis Psarou, Mirjan

Donkers-Liebrand, Muhammed Durucan,

Marcel Duvigneau, Max Ebbers, Corrie

Ederveen, Margo Eijpe-Stoverinck, Rody Elting,

Ron Enzerink, Clemens Farwick, Mark

Feukkink, Anton Frauenfelder, Danja

Frauenfelder, Yoram Frauenfelder, Ceriel

Frensen, Leander Geelen, Michael Gersjes,

Anne Giesen, John Giezenaar, Hans Groothuis,

Tamara Hakfoort, Ylanie Hansen-Böhmer, Jaimy

Hartjes, Wessel Heezen, Patricia Heijnst,

Marieke Heinen, Eddy Heister, Gerry

Helmink-Steinvoort, Niels Hendriksen, Joost

Hermsen, Anouck Hesseling, Wilco

Hogenkamp, Bram Hogeweide, Sonja

Holstein-Reumer, Ramon Hueskes, René

Inkenhaag, Amar Jaggan, Cindy Jansen, Lars

Jansen, Koen Janssen, Adil Jusufovic, Douwe

Kaastra, Mete Enes Karakurt, Pargol Kashani

Nejad-Azarbad, Hans Kloosterboer, Aaron

Kock, Miranda Kock-Augustijn, Wim Konings,

Linda Korteweg, Rut Koster, Marcel Kramp,

Rien Kranen, Sierra Krawiec, Pascal Kuiper,

Willem Kummeling, Ellen Küppers-Kolkman,

Onur Kurucu, Nikky Langkamp-van Veluwen,

Ivan Larsen, Erick Leijgrave, Bas Lentink, Timo

Leusink, Mirijam Lieven, Cilia Lorx, Tanja

Loskamp-Verstegen, Angelique Lovink, Berni

Luimes, Jurgen Lukassen, Marloe Maalderink,

Joep Marissink, Jos Marissink, Monica

Marissink-Jansen, Ferdinand Massop, Nicole

Messing-Liebrand, Lex Miechels, Lasia

Mierzwinska-Donck, Antonie Moonen, Gerben

Müller, Peter Nagel, Rosie Neervoort, Nathaniël

Nguyen, Chris Nijland, Kim Notten, Charlotte

Nuissl, Frank Overgoor, Jordi Overgoor, Thijs

Papenborg, Cilia Peters-Boerboom, Kees

Plantinga, Ivo Plessis, Esther Pol-Bolwerk,

Djaran Polman, Marijn Pothoff, Ronald Putman,

Reinoud Reesink, Bryan Roelofsen, Pepijn

Rosendaal, Margo Rottger-Goorman, Tamme

Sanders, Tim Schenning, Jeroen Schuurman,

Jitske Schuurmans, Jack Schweckhorst, Anita

Seegers, Ronnie Sessink, Michael Siebenheller,

Marloes Siemes, Silvia Siemes-Aalders, Rob

Silvius, Anneke Slotboom-Meulenbelt, Martin

Sluyter, Mike Sommers, Yvonne Sommers-

Böhmer, Amanda Sonneveld-Lents, Angelique

Stefas-Vinkenvleugel, Aydé Sterk, Lian te Luke,

Willem-Jan Teitink, Robbin ten Bhömer,

Chanien ten Brinke, Karin Timmerman,

Jean-Baptiste Topenot, Giovanni Tornabene,

Ruud Tousain, Nick Trentelman, Marga van

Brandenburg, Rob van Bueren, Suzanne van

Dam, Femke van de Zand-Janssen, Sjoerd van

den Bos, Luc van der Horst, Guus van der

Stelt, Marijn van Emden, Joost van Gaalen, Jet

Van Haaren-te Dorsthorst, Helga van Manen,

Danny van Oostveen, Harald van Schooten,

Elles van Veen-Winkel, Winfried van Vessem,

Sebastiann van Wageningen, Sander van

Zuilen, Joost Verdouw, Fred Verholen, Roy

Verploegen, Nick Verweij, Erwin Wanders,

Lammert Wanders, Martine Wegenhousen,

Natalie Weijenbarg-Bos, Annemieke

Westerhof-Aalders, Melvin Westerveld, Mark

Wevers, Kay Wijkamp, Miryanna Wijnands,

Erwin Willemsen, Alex Wilmans, Cissy

Wingelaar, Sander Wolsink, Oktay Yalcin, Frans

Zuidgeest.

MAINFREIGHT HOLDING

‘S-HEERENBERG

Aron Aaldering, Arjan

Albers-Weijermars, Anne-Kim Alserda, Danielle

Arendsen, Bram Assendorp, Lydia

Baars-Kuster, Wesley Banis, Jules Barten,

Donna Bekker, Wiecher Berghorst, Raymond

Beskers, Annelies Bijsterbosch-van Leeuwen,

Leon Bleumink, Silvia Boerakker-Jansen, Rico

Boerboom, Marianne Boschker-Boom,

Courtney Bould, Lieke Brom, Jeroen

Bruggeman, Ilona Brugmann, Martens, F. (Fred)

Brunner, Wim Buijzert, Chow-Ling Chong,

Jurriaan Cijsouw, Aleyna Çil, Martijn Claessen,

Kathleen Cullity, Saskia Daams, Maarten de

Graauw, Thomas de Hoogh, Robin de Kock,

Marie-Louise de Kruiff, Dinie Dijkman-Reessink,

Nicole Driever-Ruess, Marjo Egging, Leroy

Elderman, Sander Elfring, Michel Engel, Niek

Essink, Ben Fitts, Rico Franssen, Jeanette

Frauenfelder-Frazer, Mike Freriks, Rosita

Frielink-Gerrits, Joost Froeling, Jeroen

Geerdink, Marise Gerritsen-Zwetsloot, Philippe

Hermans, Thom Heslinga, Chiel Hesseling,

Marian Heuvel-Wissink, Sebastiaan Holleman,

Monique Holleman-Oudhuis, Robin

Hoogenraad, Arthur Hoogsteder, Ilse Jansen,

Berry Janssen, Jonnes Jeuken, Robert

Jochoms, Doris Jolink-Wosnitza, Marion Kloos,

Wilma Kloosterboer-Bisselink, Jan Kniest,

Wilfrank Knuiman, Evie Koolenbrander-Tinnevelt,

Stina Kristiansson, Lisanne Kruiniger, Devlin Krul,

EU

Willy Kuiper, Shauny Küppers, Mike Lelivelt, Mulugeta
Mandefiro, Astrid Martens-Verbeeten, Petra Massop,

Lisan Moorman-Wielheesen, Jan Willem Navis,

Frederike Nordin-Stubbé, Silvan Obelink, Anette

Overgoor, Jonathan Ras, Angelique Remijnse,

Maarten Reumer, Rudi Rietman, Anita

Roelofsen-Besselink, Christian Roeterink, Thijs

Römer, Nardie Rosendaal-Verweg, Sandra Ruikes,

Jürgen Schuimer, Tom Slabbers, Mike Snijders,

Annelies Spaan, André Sprenkeler, Carola te

Grotenhuis, Giel ter Beek, Jorg ter Haar, Emiel

Teunissen, Monique Tuenter-ten Holder, Marc van

Aalst, Jelmer van Bergenhenegouwen, Gert van

Dalen, Jules van de Pavert, Rob van der Zee, Martijn

van Dongen, Joost van Leijen, Coco van Megen,

Chantel van Raaij-Uilenreef, Erik van Ringelenstein,

Aart van Silfhout, Marco Veenstra, Kay Verhalle, Ilona

Verheij-Geerts, Rob Verheijen, Kristel Verheul, Teun

Welling, Sandy Wielheesen, Erwin Willemsen,

Michèlle Willemsen.

MAINFREIGHT LOGISTICS

GELEEN

Wichard Achten, Ingo Bergmans, Roald

Bosch, Robert Boumans, Riana Brauwers-Bening,

Sven Bronkhorst, Richard Cords, Jos Cox, Ton

Cuijpers, Marl de Boer, Kevin de Graaf, Marvin de

Kok, Mariëtte Debets, Marcel Destreel, Ton

Dewaide, Martina Dobro, Geert Eummelen, Anita

Everaerts, Jeroen Evers, Ron Frijters, Peter

Grammé, Hans Graus, Jos Habets, Eddy Hermans,

Joselien Hoen-Adams, Werner Hoofs, Mischa

Jansen, Ferno Keesmeekers, Fred Kosack, Arno

Kuijpers, Stefan Maas, Adri Meesen, Eno Mobers,

Ton Moors, Jan Nijssen, Gerald Nuijes, Leo op de

Beke, Fred Paas, Daniel Pfände, Michel Pierik, Frank

Ramakers, Timo Reinink, Liesbeth Reyskens,

Norman Ridderbeekx, Chris Roering, Andre

Schmidt, Ger Schröder, Karl Heinz Schubert, Frank

Senden, Anke Smits, Marlies Soetelmans-Gerits,

Pascal Stoffels, Silvia Tuwet, Rien van de Ree,

Martijn van der Helm, Ton van Dorst, Roger Vliex,

Louis Wijnen, Monique Wolffs, Lesley Wouters, Nico

Wuyts, Rob Zonneveld.

MAINFREIGHT

LOGISTICS ‘S-HEERENBERG

Gonzalo Ahumada,

Enver Aktaran, Ali Al Jubury, Keoen Alst, Stef Althoff,

Feike Averdonk, Wilbert Bach, Dawid Baranowski,

Sven Baum, Marcel Bax, Marianne Becker-

Niersmann, Melvin Beekhuizen, Dennis Berends,

Hans Berendsen, Damian Berntsen, Toon Berntsen,

Christiaan Besselink, Dick Betlem, Jeroen Bieleman,

Andre Biermann, Thomas Bijl, Musa Bilici,

Hans-Peter Bisseling, Patricia Blanken-Epskamp,

Jason Bloemendaal, Rick Gertjan Bod, Denise

Boerboom, Eric Boerboom, Angelo Bolk, Sander

Bos, Jelke Braem, Sander Brands, Danny

Brinkhorst, Maurice Brinkman, Manon Broekhuizen,

Willem Bronsema, Detlef Brucks, Federica Bruno,

Susanne Buiting, Hannie Bulten-Tijken, Andrei

Burlacu, Jimmy Bus, Brian Bussing, David Buyl, Roy

Campschroer, Ties Campschroer, Wi Chaisim,

Joanna Ciurkot, Richard Clappers, Jeannette Clarke,

Silvano Coco, Martin Coenen, Geert Colenbrander,

Kaylee Couzijnse, Edith Damman, Hilbrand de Boer,

Raymond de Ronde, Niek de Vries, Tim den Heije,

René Derksen, Gunrun Dirlich, Bernadett Dombai,

Nicole Donders, Thomas Driessen, Jeffret

Duinmaijer, Marco Eding, Hannie Eggink, Milo Eijs,

Michael Eleveld, Stan Elting, Toon Elting, Pato

Espinoza Vasque, Jeremy Evers, Henk Fieret, Selynn

Fiering, Jean-Gérard Fifis, Danielle Fifis-Oudbier,

Jeffrey Forterie, Marnix Frazer, Rob Frencken, Daniel

Fritzsche, Sander Geerts, Saikhan Gekhayev, Edwin

Geurts, Manon Geurtsen, Marcella Gielens, Iris

Gijsbertsen, Barry Goöle, Patrick Goossen, Karolina

Gorczynska, Ronnie Gotink, Jolanta Grynfelder,

Gökhan Güler, Soran Hady Ali, Anouk Harbers,

Alexander Harmelink, Robbin Hartemink, Detlef

Hawranke, Marcel Hazeleger, Aron Heerschap, John

Hegeman, Arjen Heijboer, Edwin Heijnen, Juliane

Hein, Leon Heister, Nick Helmink, Jeanette

Hendriks, Anouk Hendriksen-Evers, Nancy

Henkens, Peter Hetterscheid, Sara Higgins, René

Hill, Billy Ho, Terry Hoenink, Danny Hoksbergen,

Berry Holleboom, Bianca Holtslag, Esther Houtman,

Gyorgyi Hrabecova, Particia Hucovicova, Richard

Huisman, Laura Hunting, Jeroen Jansen, Luca

Jansen, Mathijs Jansen, Michel Jansen, Milo

Janssen, Roy Janssen Bouwmeester, Gerrie Jeene,

Mitchell Kaak, Lars Kalinski, Hubert Kamphuis, Iryna

Kamphuis, Holger Kasimir, Dora Kasper, Dora

Kasper, Christina Keller, Oksana Keller, Rogier

Kerner, Anna Kersten, Karen Keuben, Jan Kieft,

Edward Kingma, Danielle Kip, Niels Klappers, Nico

Klein Wolterink, Berry Kluitmans, Judith Kniest, Rob

Kobesen, Niels Kok, Dennis Konstapel, Joanna

Korevaar, Alan Kort, Christian Koskamp, José

Koster, Arjen Koudijs, Peter Kraps, Simon Krawczyk,

Adam Kupczynski, Remco Kuper, Krzysztof Kurek,

Piotr Lagiewka, Jarst Lammers, Anata Langer, Astrid

Lankreijer, Kim Le, Michel Lenderink, Dariusz Lenz,

Corinne Lepine, Pauline Leunen, Christian Leurs,

Andy Leuvenink, Nicky Loeve, Twan Loeven,

Janneke Logtenberg, Dariusz Longer,

Richard Louwe, Bas Maarse, Arjan Maas, Adel

Mahfoud Nasser, Linda Maquine, Nabil Maraha,

Marcel Marencák, Krzysztof Markowski, Lajos

Markus, Andreas Martens, Andy Masselink, Aafke

Mateman, Johnny Maurick, Gerbert Medze, Henrik

Meelen, Arjen Meijering, Sander Mengerink, Tomasz

Mertka, Andre Meuwsen, Jiri Michalcik, Mateusz

Mietkiewicz, Karel Monasso, Hetty Mulder-

Plasschaert, Nadine Muller, Nathan Naberman, Roan

Neervoort, Mike Neidhöfer, Grzegor Niedzielski, Gabi

Niersmann, Jessy Nijman, Martyna Nojfeld,

Katarzyna Norek, Jarno Nuijen, Thomas Obermeit,

Adam Ociepa, Karolina Ociepa-Zawada, Tjort

Peeters, Danny Peters, Erik Peters, Erwin Peters,

Henk Peters, Maik Peters, Roy Peters, Sanne

Peters, Wouter Peters, Liane Philipsen, Andre

Piotrowski, Calaudia Plucker, Geurt Poel, Marcin

Popielak, Floris Proost, Raphael Quitsch, Anna

Radosavljevic, Pascal Ratering, Frauke Reijmer,

Joop Reitsma, Miko Rengelink, Konny Rennings,

Bertie Reumer, Tamara Ribbers, Ferdie Robben,

Martina Rödel, Franck Roodbeen, Joyce Ruesink,

Servet Sahin, Loek Sanders, Dominik Sankowski,

Iris Saulus, Marco Schaap, Vencent Schilp, Frank

Schmidt, Sandra Schneider, Bran Scholts,

Dominique Schonewille, Jürgen Schöttler, Etieene

Schreuder, Tom Schuijt, Jeggrey Schutte, Marc

Schwittepper, Krzysztof Sedlak, Dawid Serafin,

Radoslaw Siennicki, Tonny Smeenk, Harrie Smit,

Erwin Smitjes, Ruben Snippe, René Spaan, Magda

Sromek, Monika Steil-Witzger-Knautz, Andreas

Steinvoort, Ilse Steverink, Tom Steverink, Bas

Stienissen, Tonny Stoffels, Christian Striekwold,

Maria Strous, Hans te Grotenhuis, Joost te Stroet,

Laura te Welscher, Sjoerd Teerink, Michael ten

Hagen, Marc ter Heide, Barbara Tkocz, Joost Toren,

Danny Torres Cauronne, Emma Tothova, Jennifer

Tueck, Jens Tuijten, Stephan Uenk, Meho Usubjan,

Rustem Usubjan, Rob van Aken, Herman van

Amerongen, Nick van Benthem, Britt van de

Weerd-Roenhorst, Luke van den Aarssen, Martijn

van den Berg, Roel van den Hoogen, Jill van den

Oosterkamp, Herre van der Laan, Bertus van der

Pavert, Eric van der Pol, Pascal van der Spek, Tom

van der Stelt, Reina van der Til, Wouter van der

Toorn, Chris van der Veen, Sjors van der Velde,

Richarda van der Zee Nap, Wilfried van Dulmen,

Bianca van Dun, Stefan van Gemmern, Roy van

Gendt, Eddie van Gerven, Job van Gessel, Adrie van

Haaren, Maureen van Haren, Ceryl van Hasselt,

Ferdinand van Hilst, Yngwie van Hummel, Patrick

van Lavieren, Nena van Londen, Robbin van

Rooijen, Melanie van Saase, Remy van Voorbergen,

Janneau van Wissem, Mitchell van’t Oost, Roel

Veenstra, Matthew Verberk, Daniela Veuger-

Ardelean, Thymo Vierwind, Jac Vlaminckx, Eliene

Vonk, Annine Voss, Maik Wagensveld, Sascha

Wagner, Erik Wallinga, Ania Wawrzynczok, Rémon

Weerwag, Jurrit Weijers, Anouk Weijkamp, Rick

Weikamp, Perry Wennink, Daniela Werdelmann-

Nöthe, Gerbrand Wesselink, Fiona Westerveld,

Wesley Willems, Joyce Willemsen, Bas Witjes, Tim

Wittenhorst, Mattijn Witteveen, Kasia Woitaschek,

Patrycja Wolczyk, Bart Wolkenfelt, Gijs Wormskamp,

Emirhan Yorulmaz, Osman Zorluer, Michal Zurek.

MAINFREIGHT TRANSPORT ‘SHEERENBERG

Koos Aaldering, Jerry Aarsen, Marc Aarsen, Diana

Abbenhuis-Siroen, Theo Alofs, Jhonny Amting,

Freddie Anneveld, Sven Baars, Wilco Bannink,

Torseten Becker, Aart Bendeler, Remco Berndsen,

Ivo Bod, Luke Bos, Johan Bötzel, Gerald Braam,

Joan Brink, Arno Broekhuizen, Ton Broekhuizen,

Michel Bruntink, Gerjan Bulten, Shawn Bultink,

Herman Bussink, Bülent Cavlun, Arnoud Coenradij,

Gerrit Cornelissen, Roy Cornielje, Rinus de Jong,

Hemmy de Reus, Rudi de Vries, Theo Deijnen, Bert

den Brok, Thijs Derksen, Jeroen Dieker, Paul Dieker,

Herben Dimmedal, Wim Driessen, Jeffrey Duinmaijer,

Jo Duis, Olaf Eenstroom, Marc Elting, Hans Engelen,

Ramon Engelen, Martin Essink, Corine

Evers-Karsten, Tommy Firing, Patrick Fleuren, Koen

Geerts, Koen Geerts, Jan Geertsema, Donny

Gerritzen, Stephanie Giesen, Jeroen Giezen, Cemil

Gönc, Arjan Greven, Niels Haegens, Niek Hansen,

Remco Harleman, Pjotter Hebbink, Marijn Heebink,

Marcel Heerdt, Thomas Heezen, Wessel Heezen,

Erik Jan Heijkoop, Stefan Heitink, Bas Hermsen,

Jasper Hieltjes, Henk Hijink, Ronny Hoefman, Henk

Holtland, Hans Holtslag, Jacques Huiskes, Gijs

Hunting, Jurgen Huying, Dennis Jansen, Frank

Jansen, Frans Jansen, Gerald Jansen, Robbin

Jansen, Wouter Janssen, Laura Jentink, Herman

Jolink, Gepko Jonker, Henk Kamphuis, Danny

Karsten, Hennie Karsten, Dejan Kastein, Sami Kaya,

Zoltán Kecskeméti, Fons Keijser, Frank Ketelaar,

Jeroen Kniest, Jordy Kniest, Raymond Kock, Sander

Korten, Mischa Koster, Mehmet Kozan, Erik

Lammers, Devlin Liebrand, Simeon Liebrand, Wygle

Liebrand, Kevin Loef, Harrie Lucassen, René

Luijmes, Casper Lukassen, Hishem Maksoud,

Quando Man, Dennis Marschall, Frank Medze,

Arjan Meijer, Emiel Meijer, Britt Mennink, Lars

Mennink, Sander Mensink, Marco Menting,

Natalie Menting-Helmink, Gerard Morren, Jeroen

Morren, Delphin Mulder, Ivan Mulder, Hakija Nekic,

Edwin Nienhuis, Harm Nijland, Daan Nijman, Barry

Notten, Henry Oosterdijk, Mike Peelen, Marcel

Peppelman, Willem Pietersen, Rob Polman, Thomas

Prinsen, Rob Punte, Herwin Rabbers, Henk

Reindsen, Regina Riggeling, Alex Rissewijck, Léon

Robbe, Erwin Roelofs, Bryan Roelofsen, Frank

Roelofzen, Sandy Rossel, Erik Ruesink, Mark

Ruesink, Maurice Ruesink, Roland Ruesink, Johnny

Ruikes, Arno Rutten, Rob Rutten, Enrico Sabajo,

Pascal Sas, Marco Scheper, Koen Schreur, Rob

Schürmann, Bennie Schut, Bertus Schuurman, Theo

Schuurman, Rick Seijger, Han Seinhorst, Jimmy

Sewalt, Maik Sewalt, Nicole Sewalt, Mark Sloetjes,

Willem Smits, Chris Spaan, Piet Speet, Ramon

Starink, Harry Stevens, Joey Stinissen, Michiel

Sturrus, Joël te Dorsthorst, Johan te Lindert, Sietse

te Mebel, Fred te Wiel, Frank Tempels, Rick ten

Have, Henri Tenten, Jeroen ter Beest, Leo ter

Heerdt, Bertil ter Maat, Mart Terhaerdt, Bjorn

Theijssen, Bjorn Theijssen, Mike Theunissen,

Herman Tieltjes, Bobby Timmermans, Dirk van

Boggelen, Frank van de Kamp, Marcel van de

Wetering, Theo van den Berg, Timo van den Bos,

René van den Broek, Ewald van den Heuvel, Henk

van den Heuvel, Sven van der Poel, Jeroen van der

Rijst, Jos van der Zwet, Tom van Doorn, Joost van

Eerden, Jurgen van Eerden, Kees van Grootveld,

Wouter van Hartskamp, Gerard van Heeswijk,

Wilfred van Kippersluis, Luc van Marwijk, Hans van

Niekerk, Maurice van Ree, Marco van Remmen,

Sander van Schie, Rutger van Toor, Maren van Uhm,

Niko van Uhm, Jacques van Uum, Diana van

Waardenburg, Mark van Wessel, Björn Visser, Edwin

Vrogten, Jan Wassink, Joop Wassink, Rutger

Wassink, Konrad Jaroslaw Wejman, Bas Wensink,

Henk Wentink, Hein Wessels, Wilko Wiendels,

Richard Wienen, Jeroen Wierbos, Patrick Willemsen,

Quint Winters, Ron Winters, Wilfried Wolbring, Sydi

Yanardag, Sakir Yilmaz, Ruben Zegers.

POLAND

MAINFREIGHT KATOWICE

Ratajczak Agnieszka,

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2HZa`JH2HYVSPUH2HJaTHYLRè\RHZa9aLWRV^ZRH

Magdalena, Mycak Mateusz, Piotrowska Patrycja,

:RYaLR7H^Lé

MAINFREIGHT POZNA“ Fajfer

(NH[H5HNVKaPljZRP4HYJPU2VaéV^ZRH4HYPL[[H

MAINFREIGHT PRUSZKÓW Lach Adam,

Romejko Adam, Bladowski Adrian, Szczepanik

Agata, Brymerska Agnieszka, Raunmiagi Agnieszka,

*aLY^PljZRP(SLRZHUKLY)HY[RP](UKYPP2\KY`R(UKYPP

4HUKaPljZRP(UKYaLQ>HéHJOV^ZRP(UKYaLQ

Linkiewicz Arkadiusz, Makówka Arkadiusz, Pokora

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+VTǏHé(Y[\Y:LJR)HY[VZa2YH^Ja`R)LH[H

Gonerski Bogdan, Rakowski Bogdan, Witanowski

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-PSPW7PJOUHY-YHUJPZaLR>VéJa\R.YaLNVYa>LILY

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Pyrzewicz Karolina, Mirgos Katarzyna, Wodowska

2H[HYa`UH)PLSLUKH2VUYHK+ǃIYV^ZRP2Ya`Za[VM

Zawojek Krzysztof, Przyborowski Krzysztof,

Kotowoda Magdalena, Milewska Magdalena, Gaze

Marcin, Pytel Marcin, Zamojski Marcin, Fabisiak

Marek, Kucharuk Marek, Olek Marek, Malec

4HYP\Za:[HUPR4HYP\Za;LS\R4HYP\Za2VDž4HYP\Za

Paziewski Mateusz, Stoma Mateusz, Gmitruk

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Szlendak vel Rybak Sylwester, Barcikowski Szymon,

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Tomasz, Maciaszek Tomasz, Liushnenko Volodymyr,

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Pavalanski Yury, Kiper Zbigniew, Pawlak Zbigniew,

Sejda Zbigniew, Marczuk Zbigniew, Chrustny

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MAINFREIGHT

WARSAW

Bartnicka Agnieszka, Boboryko Beata,

+LPULRV2H[LY`UH>`ZaRV^ZRPè\RHZa:RVY\WRH

4HYJPU9\[RV^ZRP7H^Lé+LQ[YV^ZRP7PV[Y

ROMANIA MAINFREIGHT CLUJ-NAPOCA

Bernadette Botca, Tamas Arpad Both, Gheorghe

Ciobanu, Csongor Peter Deak, Marius Ionut Dinca,

Denise Laura Duduiala, Maria Claudia Holunga,

Paul Vlad Lucea, Alexandrin Macavei, Flaviu

Emanuel Marian, Silviu Moldovan, Liviu Dan

Paina, Victor Petrindean, Razvan Tiberiu Rus,

Roxana Suciu, Sergiu Vasile Suciu, Nelu-Gabriel

Topan-Groza, Robert Vajas.

MAINFREIGHT

PLOIESTI

Marius Albu, Marin Daniel Andrei, Mihai

Angelescu, Marin Anghel, Gheorghe Anton, Cristinel

Apostol, Florin Apostol, Razvan Apostolescu,

Mihai Constantin Ardeleanu, Constantin Avram,

Maria Avram, Ramona Georgiana Avram, Sanda

Avram, Stelian Avram, Valeriu Marius Avram, Florin

Baciu, Constantin Badaran, Valentina Luiza Badea,

Andrei Bajenaru, Adrian Balalia, Catalin Balalia,

Florea Banu, Alina Barbu, Pandele Barbulescu,

Vasile Bechis, Mugurel Ciprian Bejan, Aurel Florian

Ben, Marin Marius Bivolaru, Adrian Bocan, Ilie

Bolanu, Ion Iulian Bolanu, Adrian George Bratu,

Razvan Brumarescu, George Bucur, Dan Claudiu

Bucurescu, Roxana Adriana Bunea, Paul Vlad

Burian, Vasile Butarus, Cristian Ionut Calin,

Gheorghe Calin, Livius Calinescu, Alexandru Ion

Carbuneanu, Petre Carstica, Constantin Catanescu,

Mihai Catescu, Nicoleta Mariana Cazacu, Marian

Cioc, Valentin Ciupe, Marius Ciurea, Ion Mihail

Constantin, Ionut Tiberiu Constantin, Mihai

Constantin, Gheorghe Constantinescu, Gabriel

Razvan Corciu, Gabriel Costache, Ion Costache,

Ana Maria Cretu, Liviu Culea, Ionut Cursaru,

Gheorghe David, Constantin Diaconescu, Dragos

Dinu, Iulia Dinu, Petre Lucian Dita, Neculai Dogea,

Alexandru Doican, Viorel Dosaru, Ioan Dragan,

Gheorghe Dragu, Constantin Duca, Aurelian

Dumitru, George Dumitru, Nicoleta Duta, Sorin

Catalin Enache, Aurelian Ene, Ion Fanica, Emilian

Faniciu, Mihai Feraru, Tudor Florea, Iulian Florescu,

Cristina Florian, Ruxandra Frone, Neculai Fronea,

Adrian Gaspar, Cristian Georgescu, Viorel Catalin

Georgescu, Marian Adrian Gheorghe, Nicolae

Gheorghe, Constantin Ghita, Paul Ghita, Neacsu

Golea, Sergiu Gabriel Grecu, Adrian Grigoras,

Adrian Constantin Guiu, Adrian Mihai Hagiu, Dragos

Hornaru, Elena Iancu, Nicolae Aurelian Iancu,

Alexandru Florian Ilie, Claudiu Ilie, Nadia Mihaela

Ilie, Emil Ion, Alexandru Silviu Ionita, Costel Ionita,

Daniela Ionita, Cristian Ivan, Iulian Florin Ivan,

Lorena Jianu, Danut Catalin Lepa, Paula Clementina

Macean, Petrica Daniel Manaila, Constantin Marian

Manole, Constantin Manu, Daniel Marasescu,

Camelia Mares, Irinel Mares, Cristian Maria, Adrian

Marin, Alexandra Marinescu, Stefan Maslina, Sorin

Ion Matei, Lucian Mazare, Georgiana Florentina

Mazarini, Neamtu Mihai Alexandru, Ion Minea,

Virginia Minea, Cristinel Mocanu, Mihai Mototolea,

Florin Catalin Muscalu, Adrian Neagu, Constantin

Neagu, Petre Neagu, Stefania Neagu, Dialisa

Neata, Ion Nefliu, Ion Negre, Andrei Nicolae, Adrian

Niculescu, Dragos Constantin Niculescu, Dragan Ilie

Nituica, Bobi Oprea, Marius Pana, Alexandru Panait,

Sorin Panait, Gabriela Paun, Dumitru Pertea, Nicolae

Petcu, Elena Petre, Ionut Alexandru Petre, Marian

Mircea Petre, Nicolae Viorel Pirvu, Giani Popa,

Iulian Popa, Mihai Popescu, Titisor Popescu, Vasile

Popescu, Constantin Preda, Constantin Racatej,

Ana Maria Georgiana Radu, Cornel Radu, Costel

Iulian Radu, Gabriel Constantin Radu, Constantin

Radu, Daniela Nicoleta Rogozea, Romeo Rosu,

Iulian Rotaru, Marian Rotaru, Alexandru Lucian

Rujoiu, Ionela Sandu, Ion Iulian Scarlat, Nicusor

Scarlat, Marian Serban, Mirela Gabriela Sirbu,

Cristian Soare, Petre Solovastru, Irina Georgeta

Stan, Iulian Stan, Gabriel Stanciu, Valentin Lucian

Stanciu, Vasile Stanciu, Adrian Stanescu, Romulus

Stanescu, Adrian Stanila, Justina Stanila, Marius

Iulian State, Ion Valentin Stefan, Adrian Stoian,

Gabriel Stoian, Adrian Stoica, AnaMaria Rodica

Stoica, Elena Stoica, Nicolae Stoica, Puiu Stoica,

Gheorghe Suditu, Ioan Vlad Sumandan, Alexandru

Tache, Mugurel Tilimpea, Catalin Timceag, Viorel

Tintea, Florin Toader, Alexandru Ionut Toma,

Iulian Andrei Toma, Mihai Tone, Alexandru Tudor,

Constantin Tudor, Georgiana Tudorache, Marius

Tudose, Simona Unger, Cosmin Ungureanu, Anca

Vasile, Andrei Bogdan Vasile, Mircea Georgian Visan,

Marius Zet.

RUSSIA MAINFREIGHT

ST. PETERSBURG

Elena Chernova, Pavel

Ermoshin, Natalia Fenina, Igor Frolin, Dmitry

Gavrilkin, Konstantin Gichin, Christina Icevert,

Andrey Ilyin, Oksana Kalashnikova, Alexander

Karamyshev, Evgeny Keyf, Eugenia Korkh, Denis

Scherbakov, Ekaterina Semik, Evgenia Stasina,

Rodion Sukhorukov, Anna Vasilenko, Daria Veselova,

Aleksander Vlasov, Margarita Yakubovich, Irina

Zhukova.

UKRAINE MAINFREIGHT KIEV

Valeriia Andreychikova, Tetiana Bryginets, Oksana

Dzyubenko, Sergii Levitan, Maxim Moshkivsky, Irina

Petrenko. UNITED KINGDOM MAINFREIGHT

AIR & OCEAN UK

Colin Crowhurst, Nitaan

Glentworth, Pavel Grossu, Matt Kibbler, John Lane,

Matt Nicolls, Ritesh Patelia, Bradley Russell, Mike

Wakefield, Matt Ward, Emma West.

53

54

“BEING PART OF MAINFREIGHT MEANS DOING
WHATEVER IT TAKES TO DELIVER FOR OUR CUSTOMERS.

IF THAT MEANS PICKING ORDERS MYSELF, I’M THERE.

“It's important to know we have the autonomy to make decisions.

We’re the ones that know our customers best and we’re always

looking for process improvements to help streamline their businesses

and make them more competitive. Mainfreight trusts us to make

decisions that are right for our customers and for our team.

There’s no ‘head office’ mentality or layers of hierarchy

to slow things down here.”

OUR APPROACH IS ALWAYS

how can we do more

for our customers?

NICOLE DONDERS, OPERATIONS MANAGER

LOGISTICS 'S-HEERENBERG

OUR CUSTOMERS' BUSINESS

matters

55

Through the strategic expansion of our network, we are becoming a competitive
global logistics provider. We seek to attract customers which have the potential

to trade across our geographical network and utilise our full services.

INTENSIFICATION of Our Network

2,408 Team Members

EU¤17.7m EBITDA

EU¤335.8m Revenue

33 Branches

EUROPE

AUSTRALIA

1,741 Team Members

AU$49.9m EBITDA

AU$623.8m Revenue

53 Branches

Attract customers who have the

right business and cultural fit

• Value customised service

• Often operate across

regions/countries

• Require Logistics,

Domestic & Air

& Ocean services

Customers

Help more customers with more of

our services across more regions

• Prove our capabilities across

each region and service

• Invest in strategically-located

facilities, expand the network

• Demonstrate Mainfreight

consistency and quality

Services

56

NZ, Australia, USA, Canada, Mexico, Chile,
China, Hong Kong, Taiwan, Singapore,

Thailand, Vietnam, Netherlands, Belgium,

France, Germany, Romania, Poland,

Ukraine, Russia, United Kingdom, Italy.

Branches

247

Countries

22

Become our customers’ single supply

chain partner globally

EVERY

Service

EVERY

Region

• Provide a fully-integrated, end-to-end service

• Deliver greater efficiencies, consistency and transparency

• Retain control over freight movement and quality

• Build brand visibility and market share in regions

NEW ZEALAND

2,272 Team Members

NZ$98.6m EBITDA

NZ$666.2m Revenue

78 Branches

THE AMERICAS

805 Team Members

US$19.2m EBITDA

US$436.7m Revenue

64 Branches

347 Team Members

US$4.9m EBITDA

US$83.9m Revenue

19 Branches

ASIA

57

58

“EVERY MORNING I PROACTIVELY SCAN
OUR FREIGHT TO FIND ANY ANOMALIES OR

ISSUES THAT COULD AFFECT DELIVERY.

“Even though I inspect hundreds of consignments a week, I know that

doing this accurately contributes to better quality. Troubleshooting

consistently and early means we get on top of any issues and work

out a fix so it doesn’t impact our customers’ business.

“We run exactly the same process at every branch in the world.

Unlike most businesses though, Mainfreight lets me make the

decision on the spot and communicate that to the customer.”

FAST, ACCURATE DECISIONS

keep our freight moving!

AMIEE SCATTOLIN, CUSTOMER SERVICE, MELBOURNE

QUALITY

matters

59

Kristel Verheul and André Miguel – ’s-Heerenberg, The Netherlands.
6060

Our expanding geographical reach
means that we are providing

round-the-clock computing for

many of our worldwide systems

from New Zealand, and much of

our development is also based in

New Zealand. We have continued

to rollout new technology and

increased functionality for the benefit

of both our customers and our

business during the last year.

Over the past year our New Zealand

Domestic business has settled in

with our new transport management

system, Mainstreet, and the team is

comfortable with the system now.

Our focus for Mainstreet shifted

in latter part of the year to

Australia, as we specified and

developed the modifications

required for its introduction there.

The implementation commenced

post year-end in early May 2018

and, with the benefit of the

New Zealand experience, once again

we achieved a successful upgrade

with minimal fuss. A significant effort

from our IT and training teams, and

total support from the users and

leadership team are all worthy of

recognition. This upgrade provides

our teams in Australia, New Zealand

and USA with the latest technology,

improving speed, visibility and freight

management. Now we have this

modern technology platform in place

it means we can turn our attention

to introducing a higher level of

innovation that will increase business

and customer benefits.

Europe continued with the rollout

of Mainmove, a new transport

management system, during the

year. The majority of the functionality

has been switched to Mainmove for

all freight operations into and out of

the Netherlands and the business is

already benefiting from increased

efficiency and visibility provided

by the new system. We expect the

rest of our European operations

to transition to Mainmove over the

coming year.

Our Order Management System

(OMS) is a very valuable addition to

our Technology Suite. Built within

Mainchain, our customer portal, it

allows our customers to monitor the

status of their orders through the

manufacturing process anywhere,

anytime. OMS effectively extends our

reach and service for the customer,

directly into their supplier networks,

so they can have visibility from the

time they place their order with the

manufacturer.

Our European team has also

created an online selling solution

for customers that warehouse their

product with us. We provide an

online storefront that can distinguish

multiple types of customer models,

from direct to the consumer (B2C)

or a variety of business to business

(B2B) models, which enables us to

offer different variants of process and

pricing based on the model type.

The CaroTrans USA team has

completed the switch to their new

version of CaroTrak, a system that

has run successfully from November

1999 until present day. The system

has been progressively updated over

the last three years, by integrating

new modules into the old system

in a way that they can coexist

and give more immediate benefit

to users, rather than waiting for

the entire system to be rewritten.

This approach has also meant less

downtime and risk.

Mainfreight USA now has more

than 100 vehicles running with

in-cab scanning technology for

their Domestic freight movements.

The technology is the same that we

already run in Australasia and results

in greater visibility and timeliness of

pickup and delivery information for

the customer.

To allow for the ever-increasing

geographical spread of visitors to

our website, www.mainfreight.com,

we have distributed the majority

of its resources over a Content

Distribution Network (CDN). With

hundreds of servers worldwide, this

move has allowed us to provide a

more consistent level of performance

and information to customers and

visitors anywhere in the world, while

retaining the sensitive elements in

our own secure network.

MAINFREIGHT Technology

Our investment in technology in the last financial year was $52.19 million and we

expect that level to increase as we digitise our business for the benefit of our

customers. The need for higher levels of spend on cyber security, as threats increase

in number and complexity, will also have an impact.

61

We measure the carbon emissions
we generate across our New Zealand

and European operations, and over

time will establish measurement

across our global operations.

In seeking to reduce our emissions,

Mainfreight’s initiatives include:

>Moving capacity from road to rail

and coastal shipping

>Route planning – using GPS in

congested international cities,

and introducing planning software

to bring efficiencies to freight

deliveries and pick-ups

>Truck size management – using

smaller trucks for distribution

within cities and larger trucks

between cities

>Promoting off-peak distribution,

particularly between cities and

from ports

>Efficient driving techniques

promulgated through our driver

training programmes

>Vehicle maintenance guidelines for

owner-drivers to promote efficient

running of their trucks

>The conversion of gas and diesel

powered forklifts operating on our

docks to electric, and the use of

manual pallet trucks to replace

forklifts where practicable

>Trialling EV/hybrid vehicles in

Australia and New Zealand (current

fleet of 3 EVs and 124 hybrid cars).

In addition, our European business

continues to participate in studies

underway in the Netherlands to

evaluate the practical application

of “Platooning”. Truck Platooning

involves a number of trucks

equipped with state-of-the-art

driving technology – one closely

following the other with the vehicles

constantly communicating.

With the following trucks braking

immediately, with zero reaction time,

platooning can improve traffic safety.

Other benefits include cost-saving

(as the trucks drive close together

at a constant speed), and lower

CO

2

emissions, and it also boosts

traffic flows/road efficiency.

It is important to note that through

good old-fashioned common sense,

we have been recycling office and

depot waste for 30 years in

New Zealand. We store and use

rainwater and recycle greywater

for truck washing, ablutions and

irrigation. Where possible, our new

freight and warehousing facilities in

New Zealand and Australia are built

with environmental design principles

in mind; energy-efficient lighting and

heating solutions; and solar power

installations where feasible.

Rain gardens are installed as a

feature of our landscaped grounds.

Our Hamilton facility is equipped

with 690 solar panels, making it

one of the largest private solar

installations in Australasia, with a 170

kwH capacity. Our facility in Epping,

Melbourne also includes a solar

installation, with 100 kwH capacity.

In future new facilities, environmental

considerations will influence design

and build, as we look to extract

maximum ecological benefits.

In Europe, the business has

committed to the Netherlands’

sustainable logistics programme,

with the objective of reducing

carbon emissions by 30% in 2013

from levels recorded in 2007. For

the Dutch fleet, we achieved a

carbon reduction of 47% in the 2017

calendar year, compared to baseline

in 2007, while the Belgium business

reported a preliminary result of

31% reduction in 2017 compared

to 2010. The carbon emission is a

combination of fuel consumption

and average usage of our fleet.

Fuel consumption also continues to

improve for the fleet in Europe; over

the past 10 years we have recorded

a decrease of 11%, with 2% of this

reduction achieved last year.

As a progressive global business, we are mindful of our responsibilities to

the communities we live and operate in around the world. Environmental

and sustainability initiatives are a key part of the planning and development

of new facilities and processes as we expand.

ENVIRONMENT

62

Noreen Taurua-Watson – Auckland, New Zealand, with one of several EV/hybrid vehicles in the business.
6363

6464
Linda Vagana, General Manager of Duffy Books in Homes NZ, with students from Bairds Mainfreight Primary School.

The philosophy behind the
programme is simple: to break

the cycle of ‘booklessness’. Kids

who can’t read become adults

who can’t communicate and that’s a

serious disadvantage in a world that

operates on the written word.

In America, Books in Homes has

grown to encompass 70 locations

including elementary schools,

pre-schools and community centres

in Pennsylvania, New Jersey,

New York, Maryland, Virginia and

California. Mainfreight USA and

CaroTrans are two of the lead

sponsors supporting the programme,

which has given away over 560,000

books to more than 193,000 children

since 2008.

In New Zealand, since 1994 the

Duffy Books in Homes programme

has distributed over 12 million

books through 521 schools and

270 early childhood education

centres participating in the scheme.

In 2018, over 75,000 books will go

to students at Mainfreight-sponsored

schools.

Mainfreight’s other significant

sponsorship partner is “The Life

Education Trust” which was

established in New Zealand in

1988. The Trust seeks to help give

young people the knowledge and

skills to live a fulfilling and healthy

life through their positive health-

based education. Each year they

take over 225,000 children through

their mobile classrooms teaching

self-respect, respect for others and

providing tools for healthy living.

This year marks our eleventh year of

support to The Life Education Trust.

Mainfreight is proud to support these

two exceptional organisations that

channel so much to the children who

are our future. We encourage you to

learn more about how you can help

by visiting their websites:

www.booksinhomes.org.nz

www.booksinhomesaustralia.com.au

www.booksinhomesusa.org

www.lifeeducation.org.nz

MAINFREIGHT in the Community

Mainfreight has been part of the “Duffy Books in Homes” programme since its

inception in 1994 and currently we support over 85 schools in New Zealand,

Australia and the USA. This means over 15,000 children every year are getting

new books to read with our support.

65

NEW ZEALAND
IN NEW ZEALAND, CRAIG EVANS OVERSEES THE BUSINESS, SUPPORTED BY:

NIC KAY

NATIONAL MANAGER

AIR & OCEAN NEW ZEALAND

22 YEARS

• Began with Mainfreight

in Christchurch Logistics,

followed by Sales and

Branch Manager roles in

Transport

• His passion for sales and

leadership saw him accept

New Zealand Group Sales

Manager role in 2011

• Appointed to the Air &

Ocean management role

in 2015.

CARL GEORGE

NATIONAL MANAGER

TRANSPORT NEW ZEALAND

23 YEARS

• Started with Mainfreight

in the Auckland Transport

branch on the inwards shift

• Quickly progressed through

various rating, customer

service and sales positions,

before taking on Branch

Manager roles

• Since returning to

New Zealand from a

business development role

in the UK Carl has worked

in national sales and now

leads the New Zealand

Domestic Transport

business.

ROB CROFT

NATIONAL SALES MANAGER

NEW ZEALAND

8 YEARS

• Began with Mainfreight in

1994 as a local sales

rep with Daily Freight

Wellington

• After working in the

industry overseas, Rob

returned to the Mainfreight

Group in Australia in 2010

and then to New Zealand

in 2014 in a South Island

Business Development role

• Appointed National Sales

Manager in 2015.

MITCH GREGOR

NATIONAL MANAGER

LOGISTICS NEW ZEALAND

17 YEARS

• Has worked across the

business in operations,

sales and branch

management roles, in both

our Logistics and Domestic

Transport businesses in

New Zealand and Australia

• He is responsible for

Mainfreight and Owens

Logistics operations across

New Zealand

• Career highlights include

being part of two branches

to win Branch of the Year

trophies.

OUR Leadership Team

66

IN AUSTRALIA, RODD MORGAN OVERSEES THE BUSINESS, SUPPORTED BY:
AUSTRALIA

GRANT DRAPER

NATIONAL MANAGER

AIR & OCEAN AUSTRALIA

21 YEARS

• Joined Mainfreight as

Financial Controller for

Air & Ocean in 1997

• Relocated to Melbourne

to maximise business

efficiencies following the

acquisition of additional

international operations

in Australia in 2001

• Became Financial

Controller for Air &

Ocean Australia

• Appointed National

Manager in 2015.

DAVE SCOTT

NATIONAL SALES

MANAGER AUSTRALIA

18 YEARS

• Joined the Mainfreight

Melbourne team in 2000,

with a strong background

in domestic and

international transport in

New Zealand, Australia

and the UK

• Focused on achieving

growth targets through

the ongoing development

and retention of a young

and motivated sales team.

SIMON HART

NATIONAL MANAGER

LOGISTICS AUSTRALIA

12 YEARS

• Joined Mainfreight in

2001 after graduating

as an engineer and

became part of the IT and

Business Development

teams in NZ

• After a two-year break

in the UK, joined the

Australian team, and has

held roles in Business

Development

• Now manages the

Australian Logistics

business.

BRYAN CURTIS

NATIONAL MANAGER

TRANSPORT AUSTRALIA

38 YEARS

• Has been part of

Mainfreight almost

since day one

• Has held a wide variety

of leadership roles in

both Australia and NZ

• Oversaw the significant

investment into new

facilities for the Australian

Transport business in

recent years

• Current focus is on

achieving growth and

improving quality.

67

ASIA
BILLY ZHANG

REGIONAL SALES MANAGER ASIA

17 YEARS

• Joined Mainfreight Asia in 2001

having graduated from Shanghai

University with a double degree

in Industrial Engineering and

Foreign Trade

• Billy has experience in a range

of roles in the business, from

customer service to trade-lane

management and sales

• Most recently was National Sales

Manager for China before taking

on his current role in late 2017.

IN ASIA, CARY CHUNG OVERSEES THE BUSINESS, SUPPORTED BY:

68

IN AMERICA, JOHN HEPWORTH OVERSEES THE BUSINESS, SUPPORTED BY:
RENÉ VAN HOUTUM

NATIONAL MANAGER/

PRESIDENT LOGISTICS USA

7 YEARS

• Spent 17 years in a variety

of roles with Wim Bosman

Group, Europe

• Became a part of

Mainfreight through

acquisition of the Wim

Bosman Group

• Moved to Australia 2011

to lead the warehousing

division there

• In 2014 set up and now

leads Mainfreight’s

standalone North America

Logistics division.

CHRIS WILSON

PRESIDENT

CAROTRANS USA

13 YEARS

• Joined CaroTrans in 2004

as the inaugural Cleveland

Branch Manager

• Led the branch to Branch

of the Year twice

• Opened the CaroTrans

Le Havre branch in France

in 2012, before moving

back to the United States

in 2016

• Held senior sales and

operational roles before

taking on the leadership of

the CaroTrans business in

June 2017.

SHAWN ROACH

NATIONAL MANAGER/

PRESIDENT DOMESTIC

TRANSPORT USA

2 YEARS

• Joined the Mainfreight US

following six years as a

North American transport

partner

• Instrumental in linking trade

lanes between US and

Canada

• Focused on increasing

domestic growth through

excellent sales process and

customer satisfaction.

NATHAN THOMAS

NATIONAL MANAGER/

PRESIDENT AIR & OCEAN

USA

17 YEARS

• Became a part of

Mainfreight through

acquisition of the Owens

Group

• Held several roles in NZ

Perishables Airfreight

division

• Joined Air & Ocean LA

• Led his team to win the

Mainfreight USA Branch

of the Year.

THE AMERICAS

69

IN EUROPE, BEN FITTS OVERSEES THE BUSINESS, SUPPORTED BY:
LIANE PHILIPSEN

EUROPEAN MANAGER

LOGISTICS

7 YEARS

• Joined Wim Bosman as

a management trainee in

1997, after graduating with a

masters degree in Business

Administration

• Has held roles in Logistics

operations and sales, and was

the European Sales Director

before taking on her current

role at the start of 2018

• Liane has a personal interest

in implementing continuous

improvement programmes with

positive outcomes for both the

team and customers.

JASON BRAID

EUROPEAN MANAGER

AIR & OCEAN

21 YEARS

• Joined Mainfreight as a graduate in

1997 at Daily Freight NZ

• Moved to CaroTrans Chicago and

then to Mainfreight Air & Ocean

Los Angeles in sales and branch

manager roles

• More recently he was appointed

as Vice President Air & Ocean for

Mainfreight USA before moving

to Europe where he now heads

up the European Air & Ocean

business.

FRANS ZUIDGEEST

EUROPEAN MANAGER

FORWARDING & TRANSPORT

7 YEARS

• Began as a graduate with Wim

Bosman in 1997, working across IT

and Sales roles

• In 2011 moved to the Forwarding

and Transport team, responsible

for the SystemPlus network in the

Netherlands.

• Later as Country Manager

Forwarding, he led the forwarding

and crossdock team in the

Netherlands, before taking on his

current role at the end of 2015.

EUROPE

70

OUR GLOBAL INTERESTS ARE SUPPORTED BY:
MARTIN DEVEREUX

GROUP MANAGER

TEAM DEVELOPMENT

18 YEARS

• Holds degrees in

Management and Law

• Joined Mainfreight in 2000

on graduate programme

• Has worked in various

roles across Transport

and Air & Ocean, in both

New Zealand and Australia.

• Joined our Training &

Development team in 2004

and took on the global

coordination of these

teams in 2011.

KEVIN DRINKWATER

GROUP IT

MANAGER

32 YEARS

• Mainfreight’s first graduate

• Roles have included Chief

Financial Officer, Sales

Manager and first General

Manager of Mainfreight

Logistics

• Kevin has led the

development and

implementation of most of

our critical systems globally.

TIM WILLIAMS

CHIEF FINANCIAL

OFFICER

24 YEARS

• Joined Mainfreight

following acquisition of

Daily Freightways in 1994

• Played a key role in

Mainfreight’s initial public

offering in 1996

• Over the years his role and

capabilities have continued

to broaden as Mainfreight

moves into diverse global

markets.

CARL HOWARD-SMITH

GENERAL COUNSEL

MAINFREIGHT GROUP

40 YEARS

• Has been with Mainfreight

since its inception 40 years

ago

• Currently holds joint roles

as a Director and General

Counsel of the Company

• The business has always

placed a high value on his

legal and business acumen,

and his commitment to the

Group’s development and

growth.

GLOBAL

71

WHERE WE HAVE
COME FROM,

shapes where we can go

ALTHOUGH 2018 MARKS OUR 40TH YEAR, IT’S OUR FUTURE WHICH DEFINES

US. IN FOUR DECADES, WE HAVE NEVER STOOD STILL. OURS HAS BEEN A

JOURNEY OF CHALLENGING THE STATUS QUO, REACHING FOR THE NEXT

TARGET AND ALWAYS HOLDING OURSELVES ACCOUNTABLE.

Mainfreight

founded by

Executive

Chairman,

Bruce Plested

1978

Acquired

Daily Freight &

Chemcouriers in

New Zealand

1994

GO!

100

year

vision

Our

100-Year

Vision

adopted

1979

Listed on

New Zealand

Stock

Exchange

1996

Major

acquisition

in Australia

adds scale

2000

Acquired

Owens Group in

New Zealand

Established

strategic

operation in

USA through

shareholding in

CaroTrans

20031999

72

When the opportunities were right, we’ve been bold.
Through challenging times, we’ve made the tough calls.

Some of the world’s best businesses choose to work with us.

We have evolved, adapted and expanded and, in 40 years, never lost sight

of who we are. The beliefs and purpose set by our founder, Bruce Plested,

will guide us through the next 100 years.

THANKS TO HIS SPIRIT AND VISION

the journey is as exciting as ever!

Revenues

reach

NZ$1 billion

Revenues

reach

NZ$2 billion

Revenues of

$2.6b and profit

of $112m

200920152018

Secured European

footprint through

acquisition

2011

$1b

Profits

exceed

$100m for

first time

2017

$2b

40

years

US

acquisition

provides

basis for

Mainfreight

USA

2007

Full

acquisition

of Asian

business

2007

73

TARGETS, Progress & Achievements
2018

TARGETSTATUS

• Additional land purchased for network development in

New Zealand and Australia

• Land identified and purchased/leased in Auckland, Tauranga,

Melbourne, Adelaide, Brisbane, Sydney

• USA has revenue of US$500 million earning a rate of

return of 7%

• Current revenue at US$437 million, with ROR target likely

to take more time

• Our American and European interests earn more profit than our

Australian and New Zealand operations

• Unlikely before 2020

• Sales revenues exceed $3.0 billion • Revenues for the 2018 financial year are $2.6 billion.

At a growth rate of 7.2% pa compounded, we would double

revenue every decade

• European revenues exceed ¤500 million• This year’s revenues at ¤336 million

• Pre-eminent supply chain logistics business for Australasia,

with New Zealand and Australian exporters and importers

supporting us around the world

• We would humbly suggest that we are well considered in this

arena, and we continue to intensify our network to provide

further supply chain efficiencies.

• Our Australian domestic network has branches in every major

city and town, all operating profitably

• We now have 53 branches across the Australian continent, with

Tasmania and Northern Queensland under consideration

• Begin to invest capital in the American market to build suitable

infrastructure to support our growth and quality ambitions

• Likely from 2020 onwards; financial and operational

performance need to improve

• Have at least 50% of revenues in Asia developed in-country • Currently 24%; not likely to be achieved until 2020 onwards

• Asia network well established and positioned in and around

ports and airports rather than offices in central city locations

• Our network continues to expand; now in 6 countries with

19 branches. Singapore branch is located at Changi airport.

Airfreight locations have been secured for Guangzhou and

Beijing

• European Air & Ocean network extended to Italy• Completed with Milan branch opened. Additional locations

being investigated for Germany, with Scandinavia under

consideration

2017 – PAST YEAR

TARGETSTATUS

• Mainfreight has a well-established International network trading

between Europe, USA, South America, and Asia/Pacific

• Our Air & Ocean network is developing satisfactorily, with

offices opening in Italy and Russia this year. We would expect

to see more branches opening throughout Asia and possibly

the Middle East and Africa over time

• 85% of revenue is earned outside of New Zealand• The team have accepted the challenge! Currently at 75%

• Net profit earned offshore is greater than that earned in

New Zealand

• Currently 52% earned offshore

• New Zealand operations are the pre-eminent supplier of

services for food products across the nation (dry, ambient,

chilled and frozen)

• We continue to focus on developing our quality

• Strength built across our Australian business, growing our

regional network to complement growth in all five States where

we are located (six including the ACT)

• Our network continues to develop throughout Australia, with

another two branches to open in Toowoomba and Wollongong

• Six dedicated 3PL warehouses across the USA• Currently four dedicated Logistics sites; with Chicago

opened in 2018

• Dedicated linehaul between all major city locations within the

USA and major city centres in Canada

• Currently we cover 40 cities, averaging 129 linehauls per

week (174 legs)

• Strong growth across all European operations extending into

Logistics, Forwarding, and Air & Ocean networks

• Growth rates continue to increase satisfactorily. New land and

buildings are underway to provide sufficient infrastructure.

• New software (Mainstreet) implemented across New Zealand

and Australian domestic transport networks

• Implemented in May 2017; Australia has followed with

implementation in May 2018

• European Forwarding software completed and implemented• Implementation underway; completion due late 2018

7474

Each year we challenge ourselves with increasingly bold targets. Defining and
openly sharing these with our teams, shareholders and customers, drives us

to achieve what we promise.

2019

TARGETSTATUS

• Our Australian profit exceeds that of New Zealand• Not likely to be achieved until 2021

• Over 300 branch locations around the world• On target; currently 247

• 500,000 TEUs moved by sea globally• Currently 311,586 TEUs (up 11% from last year)

• 100 million kg of air freight moved globally• Currently 127 million kg (up 5% from last year)

• USA profitability improved and revenue growth back to

satisfactory levels

• Revenue growth improving, albeit slowly, and profitability

up 3.5% in 2018

• Increased number of Air & Ocean branches in Germany

to at least 6

• Branches planned for Hamburg and Munich in 2019 financial

year; it will take longer to establish further branches

• Our global warehousing footprint to exceed 750,000m

2

• Currently at 614,037m

2


• 38 Land & Building projects underway in New Zealand,

Australia, Europe and the USA

• Completion of most through 2019 & 2020

2020

TARGETSTATUS

• Over 400 branches globally• A stretch – more likely to be 2022

• Our network extends across 30 countries worldwide• Currently in 22 countries, Japan, South East Asia under

consideration

• South America and Middle East locations and network well

developed

• We continue to be interested in developing our

South American, and now Middle East, presence

• Our Asian business is making similar profits to that of the USA• Unlikely, providing our USA business meets our expectations

• Our supply chain solutions extend across all our networks,

including Asia

• Asian focus is on Air & Ocean, however by 2020 we expect to

be considering 3PL warehousing locations

• Chemcouriers in Australia is well established and recognised

as the pre-eminent hazardous freight provider to the nation

• Establishment of a global perishable airfreight business

2022

TARGET

• Established in 50 countries including on the continents of

Africa, South America and the Indian sub-continent

• Our coverage extends to all countries in the European Union

• Our customer-focused culture attracts many large multi-

nationals across their full supply chain requirements

2021

TARGETSTATUS

• $4 billion of sales revenue• Wouldn’t this be nice!

• Our global network further extended • Intensification of our network remains a core strategy

• Our information technology contributing profitability via the

sale of our visibility software tools

• Digitisation of our Air & Ocean customer solutions will

be well established and revenue-earning

• Over 10,000 team members around the world• Currently 7,573

• Warehousing footprint exceeds 1,000,000m

2

• Currently 614,037m

2

• Mainfreight 2Home is well established and profitable in Australia

2023

TARGET

• Network intensity continues; more facilities in more countries

• Warehouse footprint becomes a dominant feature of our

activities

• Domestic locations increased to provide more efficient

delivery of domestic freight

• In excess of 50% of our customer base are utilising all three

cornerstone products – Domestic, Air & Ocean, and Logistics

• Expect our Asian business to have doubled in size from 2018

7575

Capital Expenditure is directed and approved by the Board of Directors from
recommendations made by senior management. Expenditure can be classified

into three divisions; Property and Buildings, Information Technology and General,

including Plant and Equipment.

CAPITAL Expenditure

During this past financial year,

Net Capital Expenditure totalled

$64.7 million. Capital required for

property development during the

2019 financial year is likely to be

approximately $105 million with total

capital expenditure estimated at

$150 million.

Property and Buildings

Of the $64.7 million, $20.1 million was

spent on property, primarily across

our network in New Zealand and

Australia. The major items were:

Sundry New Zealand property $9.2m

Sundry European property $5.6m

Sundry Australian property $4.5m

It is our desire to invest in world-

class facilities wherever possible to

ensure that our people have the very

best of facilities to assist the delivery

of high quality supply chain services.

Land investment decisions continue

to be made on an as-required basis.

In some instances, owned facilities

with a limited future due to size

and/or design, will be sold and

leased back with funds being

invested in land designated for

building a new facility.

Whilst land and buildings were

inherited in Europe with the

acquisition of the business there,

we have yet to invest any large

amounts of additional capital in this

region; a situation that will continue

until we find acceptable business

improvement and growth. In the

meantime, leasing facilities in Europe

is our favoured approach.

In the USA, freight, warehousing and

office facilities are 100% leased. Time

and growth will determine land and

building investment for the future.

Information Technology

Our investment in technology

continues to strengthen our

efficiency and productivity, providing

data and statistics that allow us

to deliver greater quality while

providing transparency for our

customers, providing them with an

extra layer of intelligence as well as

critical supply chain information.

Capital expenditure on Information

Technology was $17.7 million in this

past year and is likely to be a similar

amount over the next two years.

Plant and Equipment

The balance of capital spend, $26.9

million, is attributable to plant and

equipment purchased across the

Group’s five regions.

76

Jodie Dirksen – Adelaide, Australia.
7777

CORPORATE Governance Statement
This statement is a summary of the

Corporate Governance arrangements

approved and observed by

Mainfreight’s Board of Directors

(“the Board”) as at 31 March 2018.

The code of ethics, policies, charters

and other associated documents are

available on the Investor pages of

the Company’s website:

www.mainfreight.com/global/

en/global-home/investor-centre/

governance.aspx

Mainfreight’s corporate governance

practices do not materially differ

from the NZX Corporate Governance

Best Practice Code, except that

Mainfreight has not established a

Nominations Committee, preferring

to accomplish this task with the

assistance of the full Board.

The Role of the Board

of Directors

The Board is committed to the

highest standards of ethical

behaviour in its own undertakings

and those of the Group’s team

members. The Board follows

the corporate governance rules

established by NZX, and Directors

exercise their duties in the best

interests of the Group. A formal

charter has been adopted by the

Board and further sets out the

responsibilities of Directors.

The Board is responsible for the

proper direction and control of the

Group’s activities. This responsibility

includes such areas of stewardship

as the identification and control

of the Group’s business risks,

the integrity of management

information systems and reporting

to shareholders. While the Board

acknowledges that it is responsible

for the overall control framework of

the Group, it recognises that no cost

effective internal control system will

preclude all errors and irregularities.

Our system is based upon written

procedures, policies and guidelines,

organisational structures that

provide an appropriate division

of responsibility, and the careful

selection and training of all qualified

personnel.

The Board includes in its decision

making: dividend payments; the

raising of new capital; major

borrowings; the approval of annual

accounts; and the provision of

information to shareholders, major

capital expenditure and acquisitions.

The Board delegates the conduct

of the day-to-day affairs of the

company to the Group Managing

Director and Executive Management.

Financial statements are prepared

monthly in conjunction with the

weekly profit and loss statements

generated at branch level. These are

reviewed by the Board progressively

through the year to monitor

management’s performance and

assess the integrity of management

information.

Board Composition

The Board comprises eight Directors:

a Chairman; a Group Managing

Director; and six Directors, five of

whom are independent. From time

to time, key executives are invited

to attend full Board Meetings and

are encouraged to fully participate

in all debate.

Carl Howard-Smith retires by

rotation at the 2018 Annual Meeting

of Shareholders and will not stand

for re-election. The Board will

continue with a complement of

seven Directors.

Directors’ Meetings

The Directors normally hold five full

Board Meetings per year – three

of these are held over two- to

three-day periods in operational

regions of interest and concern, with

opportunities to meet with customers

and/or our team in those locations;

with the other two meetings being

shorter, and held primarily to review

performance and strategy. Additional

meetings are held for the purposes

of considering interim and final

dividends, and approving financial

results for release to the market, and

as otherwise required.

The Board met on seven occasions

in the financial year ended 31 March

2018: in Auckland, New Zealand;

Sydney, Australia; Hong Kong;

‘s-Heerenberg, the Netherlands;

and Los Angeles, United States.

The following table summarises

Director attendance at Board and

Committee meetings:

DirectorBoardAudit CommitteeRemuneration Committee

Bruce Plested7/7–2/2

Don Braid*7/72/2–

Simon Cotter7/72/22/2

Carl Howard-

Smith

7/ 72 / 2–

Bryan Mogridge7/72/2–

Richard Prebble

#

7/ 72 / 22 / 2

Kate Parsons6/7––

Sue Tindal7/7––

* Don Braid attended the Audit

Committee by invitation

#

Richard Prebble attended the

Audit Committee by choice

78

Share Trading
The Board has set out a procedure

which must be followed by Directors

and key Executive Management

when trading in Mainfreight Limited

shares. This procedure assists those

persons to ensure they comply with

the insider trading provisions in the

Financial Markets Conduct Act 2013.

Group Management Structure

The Group’s organisational structure

is focused on its core competencies;

domestic distribution, international

sea and air freight forwarding,

warehousing and supply chain

management. These operations are

located in New Zealand, Australia,

the Americas, Europe and Asia.

A country/region management

structure now exists to reflect the

size and diversity of our global

operations.

Our management structure is

deliberately kept as flat and minimal

as we can achieve. This provides

an ideal platform for succession

planning, and allows for decision-

making from those closest to our

customers. We manage with a

philosophy that encourages all to

contribute.

Diversity

The Board recognises the current

requirement placed by NZX Main

Board Listing Rules on Issuers to

report on diversity, and has included

a gender breakdown across its

full team in its Annual Reports for

many years. Mainfreight is firmly

committed to diversity and equality

in all areas of its operations, and the

Group’s Diversity Policy is available

on its website.

At the level of Directors and Officers,

gender composition is set out

below. The Company’s management

structure was streamlined in

early 2013 in a move away from

product/discipline leaders in each

region, to overall country/regional

management:

THIS YEARLAST YEAR

Male Female Male Female

Directors

6262

Officers

100100

All Team

Members*

68%32%71%29%

*If we remove Owner Drivers and

EU Drivers from the calculation,

gender ratios are 59% Male and 41%

Female (last year 63% Male and 37%

Female).

The supply chain logistics industry is

recognised as being predominantly

male, however as the Company

moves into a broader geographic

range, we are discovering areas

where there is greater gender

balance such as our Logistics

business in the Netherlands, our

Air & Ocean business in many

locations, and our Asian business.

We are pleased that the number of

female managers has increased to 37

(up from 31 in 2017, and 27 in 2016).

The number of key management

roles held by females still falls well

below our expectations and we look

for improvement.

Anti-Corruption & Competitive

Practice Guideline

With the advent of the global

economy, most countries have

put in place anti-corruption and

competition laws, which we at

Mainfreight welcome and endorse.

Mainfreight, as a global company,

has adopted guidelines and policy

to enforce anti-corruption and anti-

competitive behaviour.

The integrity of our brand and the

way we are perceived in the market

is of paramount importance to

us. Mainfreight demands from its

team members at all times honesty,

integrity and a scrupulously “clean”

approach to the way we conduct

our business.

The Role of Shareholders

The Board aims to ensure that

shareholders are informed of all

major developments affecting the

Group’s state of affairs. Information

is communicated to shareholders

in the Annual Report, the Interim

Report, and twice-yearly Newsletters,

all of which are also available on the

Company’s website with other items

of interest.

The Board has adopted a continuous

disclosure policy to assist Mainfreight

to comply with its continuous

disclosure obligations under the

NZX Main Board Listing Rules.

The Board encourages full

participation of shareholders at

the Annual Meeting to ensure a

high level of accountability and

identification with the Group’s

strategies and goals.

7979

The Board has constituted the
following standing Committees

that focus on specified areas of

the Board’s responsibility. Each

Committee operates under its own

charter outlining composition and

responsibilities.

Audit Committee

The Committee is responsible for

the framework of internal control

mechanisms that ensure proper

management of the Group’s affairs.

The Committee is accountable to the

Board for the recommendations of

the external auditors, EY, directing

and monitoring the audit function

and reviewing the adequacy and

quality of the annual audit process.

The Committee provides the Board

with additional assurance regarding

the accuracy of financial information

for inclusion in the Group’s Annual

Report, including the Financial

Statements. The Committee is also

responsible for ensuring that the

Group has an effective internal

control framework. A member of

the Group’s finance team oversees

regular internal control assessments,

and reports to the Chief Financial

Officer and the Audit Committee

as appropriate.

These controls include the

safeguarding of assets, maintaining

proper accounting records,

complying with legislation, including

resource management and health

and safety issues, ensuring the

reliability of financial information,

and assessing and overviewing

business risk. The Committee also

deals with Governmental and

NZX compliance requirements.

Audit Committee:

>Simon Cotter, Chairman

>Carl Howard-Smith, Director

>Bryan Mogridge, Director

Remuneration Committee

The Committee is responsible for

reviewing the remuneration and

benefits of the Group Managing

Director and senior executives,

for reviewing the remuneration of

Board members, and makes its

recommendations to the Board.

The Committee also monitors and

reports on general trends and

proposals concerning employment

conditions and remuneration.

General remuneration for all team

members is reviewed on an annual

basis and takes into account CPI

and responsibility changes for each

individual. This does not include

senior executives. Senior executive

remuneration is reviewed every

two years.

A general increase is applied to all

salaries in April, as detailed below.

Senior executives’ salaries are

reviewed every two years, and were

last reviewed in October 2016.

1 April

2018

1 April

2017

New Zealand 3.0%3.0%

Australia3.0%3.0%

Americas3.0%2.0%

Asia3.0%3.0%

Europe

(% increase where

applicable, and

guidance where

negotiations are

required)

1.86%

(weighted

average)

2.05%

(weighted

average)

In New Zealand and Australia, at

the April 2018 review, the salaries of

those at the lower end of our salary

range were further lifted, to levels

well above minimum or living wages.

Mainfreight has never looked to pay

a minimum wage, and is on track

to achieve an entry level annual

salary of at least $60,000 in the

near future.

The discretionary bonus system used

in Mainfreight was applied during the

financial period with Board approval.

This bonus calculation is applied

across all business units and only to

those people who have completed 12

months’ continuous full-time service

for Mainfreight. The total cost of this

discretionary bonus for the 2018

financial year is $20.7 million.

Remuneration Committee:

>Bruce Plested, Chairman

>Richard Prebble, Director

>Simon Cotter, Director.

CORPORATE Governance Statement CONTINUED

80

81

10-YEAR SNAPSHOT
of growth

These 10-year key indicators reflect our ability to grow our business

and our people globally, leverage the network and more recently, attract

and retain customers who value our passion for quality.

82

240,000
210,000

180,000

150,000

120,000

90,000

60,000

30,000

0

EBITDA

($000)

120,000

100,000

80,000

60,000

20,000

0

40,000

GROUP PROFITS

09 101112131415161718

BEFORE ABNORMALS ($000)

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0

09 101112131415161718

GROUP REVENUE

($000)

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

TEAM MEMBERS

09 1011121314 15161718

09 1011121314 15161718

BRANCHES TOTAL

250

200

150

100

09 101112131415161718

COUNTRIES

25

20

15

10

5

0

09 101112131415161718

83

The Directors are pleased to present
this 23rd published Annual Report

of Mainfreight Limited.

Financial Result

Consolidated sales for the year were

$2,618.86 million, up on the previous

year by $285.27 million, or 12.2%.

Net profit increased from $101.52

million to $107.89 million. Excluding

abnormal gains and losses, net profit

for the 2018 financial year increased

8.8% to $112.22 million. Comparisons

to the 2017 result are set out in the

five-year review; page 130 of the

Annual Report.

Financial Position

The Group has improved its financial

position with shareholders’ equity of

$712.40 million, funding 51.8% of total

assets. Earnings cover interest on

debt by 23.76 times. Net cash flow

from operations was $140.24 million,

up from $131.23 million last year.

Dividend

A dividend of 24.0 cents per share

was paid in July 2017, fully imputed.

A supplementary dividend of

4.23 cents per share was paid to

non-resident shareholders with this

dividend. A further dividend of 19.0

cents per share was paid

in December 2017, fully imputed.

A supplementary dividend of

3.35 cents per share was paid

to non-resident shareholders with this

dividend. A fully imputed dividend

of 26.0 cents per share, payable on

20 July 2018 is proposed, together

with a supplementary dividend of

4.59 cents per share for non-resident

shareholders. Books close for this

dividend on 13 July 2018.

Statutory Information

Additional information is set out on

pages 127 to 129 including Directors’

Interests as required by

the Companies Act 1993.

Directors

Bruce Plested and Richard Prebble

retire by rotation, and are available

for re-election.

Carl Howard-Smith also retires by

rotation, however as previously

advised, will not stand for re-election.

Audit

The Company’s Auditors, EY, will

continue in office in accordance

with the Companies Act 1993. The

Company has a formally constituted

Audit Committee.

Reporting & Communications

Mainfreight continues to support

high levels of public company

disclosure. The Company provides

half-yearly reporting on results,

with ongoing disclosure as required.

The Company is effective in

communicating the Group’s affairs

and results to shareholders, NZX,

regulatory bodies and the media.

The first half-year result to

30 September 2018 is scheduled

for release on 14 November 2018.

Outlook

The Directors are satisfied with

the direction and development

of the Group. The next 12 months

will continue the developments

that Mainfreight has underway,

with subsequent benefits to our

shareholders and stakeholders.

For and on behalf of the Board

26 June 2018.

BRUCE PLESTED

Chairman

SIMON COTTER

Director

DIRECTORS’ Report

DISTRIBUTION TO SHAREHOLDERS

Dividends – Paid & Proposed (NZ$)

Per Ordinary

Share (Normal)

Times Covered

by Net Profit Before

Abnormals

AVERAGE ANNUAL SHAREHOLDER

RETURN ON INVESTMENT

Since listing

in 1996 (%)

Last

5 years (%)

Last

10 years (%)

2018201820172017201820182018201720172017

23.9%

45.0C

24.6%

41.0C

19.9%

2.48

20.4%

21.8%

2.50

17.9%

84

8585

Board of Directors inspecting our land recently purchased in West Auckland.
Richard Prebble, Carl Howard-Smith, Don Braid, Bruce Plested, Sue Tindal, Bryan Mogridge, Simon Cotter, Kate Parsons.

OUR Board of Directors

8686

8787

OUR Board of Directors CONTINUED
BRUCE PLESTED

CHAIRMAN AND FOUNDING OWNER | AGE: 76

40 YEARS WITH MAINFREIGHT

APPOINTMENT TO BOARD 1978

As Chairman and Founder, Bruce shares his vision

for the Company with the Mainfreight team, bringing

a particular focus to quality and our culture. Likewise,

his strongly-held beliefs relating to the importance of

education and of recycling/sustainability, continue to

positively shape the Company’s behaviours.

DON BRAID

GROUP MANAGING DIRECTOR | AGE: 58

24 YEARS WITH MAINFREIGHT

APPOINTMENT TO BOARD 2000

Don has over 39 years’ experience in the freight

industry, including 24 with Mainfreight. His leadership

is underpinned by a strong belief in Mainfreight’s global

competency and capabilities to provide high-quality

supply chain solutions for our customers. His visits to

our local and overseas operations guide our teams to

be sales-focused and always aiming for operational

excellence. He is fiercely proud of the Mainfreight

culture seeing this as a key reason customers choose

Mainfreight over the competition.

CARL HOWARD-SMITH

DIRECTOR | AGE: 74

40 YEARS WITH MAINFREIGHT

APPOINTMENT TO BOARD 1983

Carl has been with the Company since its inception,

and serves as Mainfreight’s General Counsel attending

to the Company’s legal affairs (including extensive

property matters). His advice is greatly valued by

the Company’s Board of Directors and Leadership

team alike.

RICHARD PREBBLE

INDEPENDENT DIRECTOR | AGE: 70

APPOINTMENT TO BOARD 1996

Richard Prebble is by profession a lawyer. As a Minister,

Richard was responsible for creating SOEs, deregulating

telecommunications and broadcasting, reforming ports,

airports, railways and aviation. Today he chairs a group

of telecommunication companies. Richard has been

elected a fellow of the Chartered Institute of Logistics

and Transport.

Other current directorships: Information and

Communication Services Limited (Chairman),

Seronic (NZ) Limited, Stellaris Limited, and his

family companies.

BRYAN MOGRIDGE

INDEPENDENT DIRECTOR | AGE: 72

APPOINTMENT TO BOARD 2003

Bryan has a wealth of experience, both in executive and

board roles. He has also lent his considerable support

to not-for-profit organisations such as the Starship

Foundation. His intellect and pragmatic approach is

highly regarded at the Board table.

Other current significant directorships and trusteeships:

Rakon Limited (Chairman), BUPA

Australia Pty Limited, Adherium Limited, Clearspan

Limited, Thinxtra Limited, Starship Foundation,

Massey University Foundation.

SIMON COTTER

INDEPENDENT DIRECTOR | AGE: 51

APPOINTMENT TO BOARD 2013

Simon has a long association with Mainfreight having

served as the Company’s main adviser for acquisitions,

debt structure and other matters since 2003 (through

Grant Samuel & Associates), prior to joining the

Mainfreight Board. He brings strong financial skills

and business acumen to the role.

Other current directorships: Grant Samuel & Associates

Ltd, and a number of private companies.

KATE PARSONS

INDEPENDENT DIRECTOR | AGE: 45

APPOINTMENT TO BOARD 2017

Kate brings to the Board her broad financial and

analytical experience acquired in a range of industries,

both in New Zealand and overseas. Her knowledge

of high-tech companies is a welcome addition to

the Board’s capabilities, as is her familiarity with the

complexities of acquisitions, and steering companies

through growth and change.

Other current directorships: Private family companies.

SUE TINDAL

INDEPENDENT DIRECTOR | AGE: 56

APPOINTMENT TO BOARD 2017

Sue has a wealth of international experience, having

served on a number of private sector and not-for-profit

boards in Australia. Since returning to New Zealand

in 2014, she has held consulting and CFO roles. Her

proficiency in banking, finance and technology is greatly

valued, as is the international perspective she brings.

Other current directorships: Member of the CFO

Advisory Board, Auckland University Business School.

88

Ajanae Hunter and Joyce Guillen-Cox – Los Angeles, USA.
8989

OPERATING Statistics
CLAIMS NEW ZEALAND

2014* 677 consignments for 1 claim

2015471 consignments for 1 claim

2016461 consignments for 1 claim

2017529 consignments for 1 claim

2018# 498 consignments for 1 claim

The way our claims are measured was

changed in the 2016 year, to include all

small claims settled by direct credit.

* Figures for 2014 have not been

recalculated

# Figures for 2018 are inclusive of

significant inter-Island tonnages being

trans-shipped via our pop-up Spring Creek

operation

CLAIMS AUSTRALIA

20169,414 consignments for 1 claim

20174,725 consignments for 1 claim

20182,952 consignments for 1 claim

2016 was our first year of calculating Claims

statistics for Australia with the introduction

of our Quality Assurance Programme

(QAP). The reduction in the measure for

the 2017 and 2018 years reflects a greater

understanding of the benefits of the QAP

by our Australian customers. We expect to

see the figure trend down as it becomes

more widely accepted, before increasing

with ongoing quality improvement

initiatives.

CLAIMS AMERICAS

20171,000 consignments for 1 claim

2018571 consignments for 1 claim

2017 was our first year reporting for

Americas; subsequent improvement in

measuring our claims KPI has provided

greater accuracy.

LOADING ERRORS NEW ZEALAND

20141.83 loading errors per 100

consignments

20152.64 loading errors per 100

consignments

20162.41 loading errors per 100

consignments

20173.74 loading errors per 100

consignments

20183.94 loading errors per 100

consignments

LOADING ERRORS AUSTRALIA

20143.24 loading errors per 100

consignments

20152.91 loading errors per 100

consignments

20164.37 loading errors per 100

consignments

20173.93 loading errors per 100

consignments

20185.99 loading errors per 100

consignments

INTERNATIONAL STATISTICS

This YearLast Year

Airfreight

Inbound and

Outbound

(kilos)

127,173,601 121,552,658

Seafreight

Inbound and

Outbound

(TEU’s)

311,586280,539

Customs

Clearances

199,916199,533

IATA Ranking

New Zealand

Australia

Americas

1st

7th

29th

1st

6th

30th

INFORMATION TECHNOLOGY STATISTICS

This YearLast Year

Information

Technology

Spend

$52.19

million

$51.09

million

As a % of

Revenue

1.99%2.19%

1. Percentage of consignment notes

received electronically

This YearLast Year

New Zealand89%89%

Australia96%95%

Americas43%45%

Europe94%85%

2. Percentage of Logistics orders

received electronically

This YearLast Year

New Zealand99%98%

Australia99%99%

Americas99%99%

Europe99%99%

NEW ZEALAND DOMESTIC STATISTICS

This YearLast Year

Total Tonnes2,346,1792,353,180

Total Cubic

Metres

6,865,6387,086,258

Total

Consignments

3,921,9833,961,023

Delivery

Performance*

86.3%93.1%

* Delivery Performance impacted by

earthquake disruption.

AUSTRALIAN DOMESTIC STATISTICS

This YearLast Year

Total Tonnes

1,096,989929,338

Total Cubic

Metres

3,919,1613,333,008

Total

Consignments

1,658,5301,492,253

Delivery

Performance

92.4%93.7%

AMERICAS DOMESTIC STATISTICS

This YearLast Year

Total Tonnes

211,796184,748

Total Cubic

Metres

--

Total

Consignments

209,800-

Delivery

Performance

93.0%95.0%

EUROPE DOMESTIC STATISTICS

This YearLast Year

Total Tonnes

3,211,9032,681,667

Total Cubic

Metres

8,519,4388,712,863

Total

Consignments

1,913,8731,771,760

Delivery

Performance

91.5%89.5%

The need to standardise our Domestic

freight quality statistics is a key priority for

our American and European business units.

90

TRAINING STATISTICS
New ZealandAustraliaAmericasAsiaEurope

This YearLast YearThis YearLast YearThis YearLast YearThis YearLast YearThis YearLast Year

Induction21022431954000989276360

Licensing377526236040720311227484841

Procedural8449791,3883,4812,1521,5477922318191,278

Systems2,2344,41013,3281,63919854777205957517

Other4,6531,8411,6521,5762474550113408315

Total

8,3187,98016,7107,2963,0042,7521,0795852,9443,311

TRAINING AND HR SPEND

This YearLast Year

Training and

HR Spend

$10.23

million

$8.46

million

As a % of

Revenue

0.39%0.36%

GENDER RATIOS

MaleFemale

New Zealand71%29%

Australia62%38%

Americas54%46%

Asia40%60%

Europe 78%22%

Total Group

68%32%

If we remove Owner Drivers and European

Drivers from the calculation, gender ratios

are 59% Male and 41% Female.

TEAM NUMBERS

This YearLast Year

New Zealand2,2722,136

Australia1,7411,495

Asia347352

Americas805756

Europe2,4082,267

Total Group

7,5737,006

DEBTORS DAYS OUTSTANDING

This YearLast Year

Debtors Days

Outstanding

37.5238.91

LOGISTICS STATISTICS

This YearLast Year

New Zealand (NZ$)

Inventory Record Accuracy (IRA)

98.0%97.0%

Facility Utilisation

85.0%83.0%

Warehousing Footprint

145,000m

2

140,000m

2

Domestic Consignments Generated

421,956470,069

Value of Domestic Consignments Generated

$38.8 million$36.3 million

Percentage of Domestic Freight

9.2%9.1%

Australia (AU$)

Inventory Record Accuracy (IRA)

98.6%98.3%

Facility Utilisation

96.0%82.0%

Warehousing Footprint

113,071m

2

108,322m

2

Domestic Consignments Generated

314,340231,224

Value of Domestic Consignments Generated

$46.4 million$26.4 million

Percentage of Domestic Freight

18.6%11.3%

Americas (US$)

Inventory Record Accuracy (IRA)

91.9%87.9%

Facility Utilisation

72.0%58.0%

Warehousing Footprint

59,500m

2

49,146m

2

Domestic Consignments Generated

6,5522,433

Value of Domestic Consignments Generated

$2,338,477$966,403

Percentage of Domestic Freight

1.5%0.7%

Europe (EU¤)

Inventory Record Accuracy (IRA)99.94%99.95%

Facility Utilisation 97.0%98.0%

Warehousing Footprint296,466m

2

281,256m

2

European Consignments Generated918,954496,615

Value of European Consignments Generated¤33.1 million¤28.1 million

Percentage of European Freight17.8%16.6%

Outbound Accuracy99.93%99.95%

Mainfreight’s level of IRA measures location count, inventory condition, systems

alignment to inventory count, product integrity, total inventory count.

91

9292
FINANCIAL STATEMENTS Contents

93

INCOME

STATEMENT

94

BALANCE

SHEET

95

STATEMENT OF

CHANGES IN EQUITY

96

CASH FLOW

STATEMENT

97

NOTES TO FINANCIAL

STATEMENTS

123

AUDITOR’S

REPORT

127

STATUTORY

INFORMATION

129

INTERESTS

REGISTER

130

FIVE YEAR

REVIEW

93
Income Statement

FOR THE YEAR ENDED 31 MARCH 2018

Note

2018

$000

2017

$000

Operating Revenue 2,618,349 2,333,088

Interest Income 511 503

TOTAL REVENUE 2,618,860 2,333,591

Transport Costs (1,607,317) (1,432,556)

Labour Expenses Excluding Share Based Payments (538,483) (476,256)

Occupancy Expenses (73,192) (65,792)

Depreciation and Amortisation Expenses14, 15 (47,788) (43,492)

Other Expenses (183,941) (160,942)

Finance Costs (7,567) (7,728)

Non-cash Share Based Payment Expense25 - (55)

Profit Before Abnormal Items and Taxation for the Year 160,572 146,770

Income Tax on Profit Before Abnormal Items (48,353) (43,606)

NET PROFIT BEFORE ABNORMAL ITEMS FOR THE YEAR 112,219 103,164

Abnormal Items27 (7,224) (2,448)

Income Tax on Abnormal Items27 2,898 807

ABNORMAL ITEMS AFTER TAXATION (4,326) (1,641)

Profit Before Taxation for the Year 153,348 144,322

Income Tax Expense7 (45,455) (42,799)

NET PROFIT FOR THE YEAR 107,893 101,523

Earnings per share for profit attributable to the ordinary equity holders of the company are:

CentsCents

Basic Earnings Per Share: Total Operations9 107.14101.10

Diluted Earnings Per Share: Total Operations9 107.14100.97

Statement of Comprehensive Income

FOR THE YEAR ENDED 31 MARCH 2018

2018

$000

2017

$000

Net Profit for the Year 107,893 101,523

OTHER COMPREHENSIVE INCOME

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

Exchange Differences on Translation of Foreign Operations (1,988) (5,260)

Income Tax Effect 3,371 (2,155)

Net Other comprehensive income to be reclassified to profit or loss in subsequent periods 1,383 (7,415)

Other comprehensive income not to be reclassified to profit or loss in subsequent periods:

Revaluation of Land including Foreign Exchange Movements 638 (789)

Income Tax Effect - -

Net Other comprehensive income not to be reclassified to profit or loss in subsequent periods 638 (789)

Other comprehensive income not to be reclassified to profit or loss in subsequent periods:

Defined Benefit Pension Provision 325 (635)

Income Tax Effect (137) 215

Net Other comprehensive income not to be reclassified to profit or loss in subsequent periods 188 (420)

Other Comprehensive Income for the Year, Net of Tax 2,209 (8,624)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR, NET OF TAX 110,102 92,899

The accompanying notes form an integral part of these financial statements.

94
Balance Sheet

AS AT 31 MARCH 2018

Note

2018

$000

2017

$000

CURRENT ASSETS

Bank10 80,521 75,312

Trade Debtors11 361,737 314,888

Income Tax Receivable 270 1,829

Properties Held for Sale14 7,852 -

Other Receivables12 60,811 48,008

511,191 440,037

NON-CURRENT ASSETS

Property14 483,488 484,244

Plant & Equipment14 98,822 86,462

Software15 49,374 43,086

Goodwill15 207,919 200,721

Brand Names15 7,863 10,546

Other Intangible Assets15 9,164 10,814

Deferred Tax Asset7 8,581 8,855

865,211 844,728

TOTAL ASSETS 1,376,402 1,284,765

CURRENT LIABILITIES

Bank10 36 947

Trade Creditors & Accruals18 295,000 261,206

Employee Entitlements16 53,373 47,907

Provision for Taxation 12,323 14,121

Finance Lease Liability20 2,077 1,801

362,809 325,982

NON-CURRENT LIABILITIES

Bank Term Loan19 270,753 283,029

Employee Entitlements16 3,634 3,800

Deferred Tax Liability7 22,296 23,879

Finance Lease Liability20 4,507 2,473

301,190 313,181

SHAREHOLDERS’ EQUITY

Share Capital21 85,821 85,821

Retained Earnings 586,211 521,619

Revaluation Reserve 51,254 50,616

Foreign Currency Translation Reserve (10,651) (12,034)

Defined Benefit Pension Reserve (232) (420)

TOTAL EQUITY 712,403 645,602

TOTAL LIABILITIES AND EQUITY 1,376,402 1,284,765


For and on behalf of the Board who authorised the issue of these financial statements on 26 June 2018.


Bruce Plested, Chairman Simon Cotter, Director

The accompanying notes form an integral part of these financial statements.

95
Statement of Changes in Equity

FOR THE YEAR ENDED 31 MARCH 2018

2018

$000Note

Ordinary

Shares

Asset

Revaluation

Reserve

Foreign

Currency

Translation

Reserve

Defined

Benefit

Pension

Reserve

Retained

EarningsTotal

Balance at 1 April 2017 85,821 50,616 (12,034) (420) 521,619 645,602

Profit for the Year - - - - 107,893 107,893

Other Comprehensive Income - 638 1,383 188 - 2,209

TOTAL COMPREHENSIVE

INCOME FOR THE YEAR - 638 1,383 188 107,893 110,102

TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:

Supplementary Dividends - - - - (1,497) (1,497)

Dividends Paid8 - - - - (43,301) (43,301)

Foreign Investor Tax Credit - - - - 1,497 1,497

BALANCE AT 31 MARCH 2018 85,821 51,254 (10,651) (232) 586,211 712,403

2017

$000

Ordinary

Shares

Asset

Revaluation

Reserve

Foreign

Currency

Translation

Reserve

Defined

Benefit

Pension

Reserve

Retained

EarningsTotal

Balance at 1 April 2016 73,912 52,303 (4,619) - 459,477 581,073

Profit for the Year - - - - 101,523 101,523

Transfer of Revaluation Reserve

for Land Sold - (898) - - 898 -

Other Comprehensive Income - (789) (7,415) (420) - (8,624)

TOTAL COMPREHENSIVE

INCOME FOR THE YEAR - (1,687) (7,415) (420) 102,421 92,899

TRANSACTIONS WITH OWNERS IN THEIR CAPACITY AS OWNERS:

Shares Issued21 11,854 - - - - 11,854

Executive Share Scheme Costs 25 55 - - - - 55

Supplementary Dividends - - - - (1,212) (1,212)

Dividends Paid8 - - - - (40,279) (40,279)

Foreign Investor Tax Credit - - - - 1,212 1,212

BALANCE AT 31 MARCH 2017 85,821 50,616 (12,034) (420) 521,619 645,602

The accompanying notes form an integral part of these financial statements.

96
Cash Flow Statement

FOR THE YEAR ENDED 31 MARCH 2018

Note

2018

$000

2017

$000

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from Customers 2,580,429 2,307,424

Interest Received 511 503

Payments to Suppliers and Team Members (2,388,030) (2,132,227)

Interest Paid (7,567) (7,729)

Income Taxes Paid (45,107) (36,745)

NET CASH FLOWS FROM OPERATING ACTIVITIES22 140,236 131,226

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from Sale of Property, Plant & Equipment 4,507 5,822

Proceeds from Sale of Software 46 38

Repayments by Team Members 213 4

Purchase of Property, Plant & Equipment (51,509) (47,696)

Purchase of Software (17,726) (19,603)

Advances to Team Members (10) (212)

Establishment of Franchises and Acquisition of Subsidiaries (250) -

NET CASH FLOWS FROM INVESTING ACTIVITIES (64,729) (61,647)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds of Long Term Loans 1,974 -

Proceeds of Share Issues - 11,854

Dividend Paid to Shareholders (43,300) (40,279)

Repayment of Loans (28,441) (57,131)

NET CASH FLOWS FROM FINANCING ACTIVITIES (69,767) (85,556)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 5,740 (15,977)

Net Foreign Exchange Differences 380 (2,394)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 74,365 92,736

CASH AND CASH EQUIVALENTS AT END OF PERIOD 80,485 74,365

COMPRISED

Bank and Short Term Deposits10 80,521 75,312

Bank Overdraft (36) (947)

80,485 74,365

The accompanying notes form an integral part of these financial statements.

97
Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2018

1 CORPORATE INFORMATION

The financial statements of Mainfreight Limited (“the Parent“) and its subsidiaries (“the Group”) for the year ended 31 March 2018 were

authorised for issue in accordance with a resolution of the Directors.

Mainfreight Limited is a company limited by shares incorporated in New Zealand whose shares are publicly traded on the NZX Main

Board (New Zealand Stock Exchange).

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Preparation

The financial statements have been prepared in accordance with generally accepted accounting practice in New Zealand (NZ

GAAP) and the requirements of the Companies Act 1993 and the Financial Markets Conduct Act 2013. The financial statements

have been prepared:

• On a historical cost basis, except for land, and derivative financial instruments.

• On a GST exclusive basis, except for receivables and payables that are stated inclusive of GST.

(b) Statement of Compliance

The financial statements have been prepared in accordance with NZ GAAP. They comply with New Zealand equivalents to

International Financial Reporting Standards and other applicable Financial Reporting Standards, as appropriate for profit-

oriented entities. The financial statements comply with International Financial Reporting Standards (IFRS).

(c) Basis of Consolidation

The consolidated financial statements comprise the financial statements of Mainfreight Limited and its subsidiaries (the “Group”)

as at 31 March each year (as outlined in note 13). Consolidation of a subsidiary begins when the Group obtains control over the

subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary

acquired or disposed of during the year are included in the statement of comprehensive income from the date the Group gains

control until the date the Group ceases to control the subsidiary.

Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has

the ability to affect those returns through its power over the investee.

The financial statements of subsidiaries are prepared for the same reporting period as the parent company, using consistent

accounting policies. Income and expenses for each subsidiary whose functional currency is not New Zealand dollars are translated

at exchange rates which approximate the rates at the actual dates of the transactions. Assets and liabilities of such subsidiaries

are translated at exchange rates prevailing at balance date. All resulting exchange differences are recognised in the foreign

currency translation reserve which is a separate component of equity.

In preparing the consolidated financial statements, all inter-company balances and transactions, income and expenses and profit

and losses resulting from intra-group transactions have been eliminated in full.

Subsidiaries are fully consolidated from the date on which control is obtained by the Group and cease to be consolidated from

the date on which control is transferred out of the Group.

(d) Foreign Currency Translation

(i) Functional and Presentation Currency

The presentation currency of the Group is New Zealand dollars ($) and all values are rounded to the nearest thousand dollars

($000). Each entity in the Group determines its own functional currency and items included in the financial statements of each

entity are measured using that functional currency.

(ii) Transactions and Balances

Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling at the

date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange

ruling at the balance sheet date.

All exchange differences in the consolidated financial statements are taken to profit or loss with the exception of differences on

foreign currency borrowings that provide a hedge against a net investment and differences arising on translation of a foreign

operation. These are recognised in other comprehensive income and accumulated in reserves until disposal of the net investment

at which time they are recognised in profit or loss. On disposal of a foreign operation, the cumulative amount recognised in

equity relating to that particular foreign operation is recognised in profit or loss. Tax charges and credits attributable to exchange

differences on those borrowings are also recognised in equity.

98
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate

as at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the

exchange rates at the date when the fair value was determined.

(iii) Hedges of a Net Investment

Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net

investment, are accounted for by including the gains or losses on the hedging instrument relating to the effective portion of the

hedge directly in equity while any gains or losses relating to the ineffective portion of the hedge are recognised in profit or loss.

On disposal of the foreign operation, the cumulative value of any such gains or losses recognised directly in equity is transferred

to profit or loss.

(e) New Accounting Standards and Interpretations

The Group has chosen not to early adopt the following standards that have been issued but are not yet effective:

• NZ IFRS 9 – Financial Instruments: Classification and Measurement (effective for annual periods beginning on or after

1 January 2018). The Group has initially assessed the impact of this standard and given the nature of the Group’s business and

the instruments currently utilised by the Group the adoption of this standard is not expected to have a material impact on the

financial statements.

• NZ IFRS 15 – Revenue from Contracts with Customers (effective for annual periods beginning on or after 1 January 2018).

The Group will adopt IFRS 15 Revenue from Contracts with Customers from its 2019 financial year. The core principle of IFRS

15 is that an entity recognises revenue to present the transfer of promised goods or services to customers reflecting the

consideration to which the entity expects to be entitled in exchange for those goods or services. The standard introduces the

following five-step model as the framework for applying this core principle: (i) identify the contract with the customer; (ii)

identify the performance obligations (that are promises in a contract to transfer to a customer goods and/or services); (iii)

determine the transaction price; (iv) allocate the transaction price to each performance obligation on the basis of the relative

standalone selling prices of each good or service promised in the contract; and (v) recognise revenue when a performance

obligation is satisfied. In addition, IFRS 15 includes more disclosure requirements about the nature, amount, timing and

uncertainty of revenues and cash flows arising from contracts with customers.

The Group has largely completed its consideration and determination of the impact of IFRS 15.

Key considerations in this process have been:

Identify the contract with the customer – IFRS 15 requires consideration of the “contract” with the customer and in particular

what arrangement constitutes a contract. The Group has determined that individual requests for freight movement represent

the “contract” for IFRS 15 accounting purposes.

Principal v agent – IFRS 15 introduces new guidance on the determination of an entity’s role as either principal or agent. In

relation to freight movement transactions, Mainfreight considers that it acts as principal rather than agent as the customer

sees us as primarily responsible for the entire freight movement.

Identify the performance obligation – in relation to freight transactions, the Group considers its sole performance obligation

to be the delivery of freight to the final destination. Ancillary services such as customs clearance are not considered to be

separate performance obligations. Instead, together with freight they represent a bundle of performance obligations.

Recognition of revenue – the Group considers that the performance obligation is satisfied over time, and so will recognise

the related revenue as the performance obligation is satisfied. In relation to domestic freight the stage of completion is to be

measured relative to cost whereas in relation to air and ocean freight it will be measured relative to time.

The Group will transition to IFRS 15 using the fully retrospective method, meaning that the 2018 comparative balances in the

2019 financial statements will be restated, with an adjustment to equity at 1 April 2017 to reflect the cumulative profit impact

at that time.

The recognition of revenue on the basis described above will lead to a delay in the recognition of revenue compared to the

methods currently used. At any point in time this is expected to be less than 1.0% of annual revenue. As this deferral will occur

at both the beginning and end of the year, the impact on recorded revenue in any financial period is expected to be minimal

and for the 2018 year has been preliminarily calculated as less than 0.1% of revenue. Further, as the recognition of costs in

many cases will be revised to reflect the revised recognition of revenue the profit impact in any period is expected to be highly

immaterial and for the 2018 year has been preliminarily calculated as 0.3% of profit.

The expected impact upon opening (1 April 2017) net assets and equity of the Group is calculated as 0.5% of equity.

99
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

• IFRS 16 – Leases (effective for annual periods beginning on or after 1 January 2019). IFRS 16 Leases fundamentally changes

the way in which lessors account for leases. The Group will implement this standard in its 31 March 2020 financial statements.

Under the new standard, a lessee is in essence required to:

(i) recognise a right of use assets and a lease liability for each lease, with the exception of short-term (under 12 months) and

low value leases, on the balance sheet. The liability is initially measured at the present value of future minimum lease payments

for the lease term. The right of use asset reflects the lease liability, initial direct costs, any lease payments made before the

commencement date of the lease less any lease incentives.

(ii) recognise depreciation of right of use assets and interest on lease liabilities in the income statement over the lease term.

(iii) separate the total amount of cash paid into a principal portion (presented within financing activities) and interest portion

(which the Group presents in operating activities) in the cash flow statement.

This standard will have a significant impact on a number of the Group’s earnings measures as well as an increase in both total

assets and liabilities.

The Group has determined that it will use the modified retrospective approach to transition. This will involve recording an

assessed cumulative impact of application as at 1 April 2019. As a result the impact at transition is not able to be accurately

assessed at present. However the Group has performed some preliminary modelling of the potential impact of the new

standard using lease information as at 31 March 2018. This suggests that:

Total assets and liabilities are likely to increase in the order of $400,000,000.

As the current rental expense will no longer be recognised, EBITDA is likely to increase in the order of $85,000,000.

As additional depreciation and interest costs will be recognised, profit after tax will initially decrease by a small amount,

probably less than $5,000,000.

The Group is still refining the manner in which it will calculate its IFRS 16 adjustments and the data sets to which these

assumptions are applied. The Group’s actual transition adjustment will be based on lease commitments in place at 1 April

2019 which will include leases to be entered into in the coming year and which are not factored into the estimates above. The

impact will also be influenced by exchange rates and some assessments yet to be made by the Group, for example the impact

of potential lease renewals beyond the minimum contracted periods. As a result the actual transition adjustment will vary from

the indicative numbers above.

(f) Revenue Recognition

Revenue is recognised and measured at the fair value of the consideration received or receivable to the extent it is probable that

the economic benefits will flow to the Group and the revenue can be reliably measured. The following specific recognition criteria

must also be met before revenue is recognised:

(i) Rendering of Services

Revenue for all domestic contracted deliveries is recognised when goods have been collected from the customer. Revenues

derived from international freight forwarding are recognised for exports on freight departure and for imports on freight arrival.

This timing reflects when the vast majority of the relevant business’s input has been performed. Fees for warehousing are

recognised as services are provided to the counterparty.

(g) Changes in Accounting Policies

There have been no changes in accounting policies that have a material impact on the financial statements. Furthermore, all

accounting policies have been applied on a consistent basis as in the previous financial year.

3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Group’s principal financial instruments, other than derivatives, comprise bank loans and overdrafts, cash and short-term deposits,

director loans, trade creditors and accruals and trade debtors.

The main purpose of these financial instruments is to raise finance and provide working capital for the Group’s operations.

The Group also enters into derivative transactions, principally interest rate swaps. The purpose is to manage the interest rate risks

arising from the Group’s operations and its sources of finance. These are not currently hedge accounted.

The main risks arising from the Group’s financial instruments are cash flow interest rate risk, fair value interest rate risk, liquidity risk,

foreign currency risk and credit risk.

Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement

and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity

instrument are disclosed in notes 2 and 4 to the financial statements and other relevant notes.

100
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

Cash Flow Interest Rate Risk

The Group’s exposure to cash flow risk through changes in market interest rates relates primarily to the Group’s long-term debt

obligations with a floating interest rate. The level of debt is disclosed in note 19.

The Group’s policy is to manage its interest cost using a mix of fixed and variable rate debt. To manage this mix in a cost-efficient

manner, the Group enters into interest rate swaps, in which the Group agrees to exchange, at specified intervals, the difference between

fixed and variable rate interest amounts calculated by reference to an agreed-upon notional principal amount. With the current low

interest rate environment, particularly in Europe and the USA, the Board decided not to enter into any swaps at this time. At 31 March

2018 none of the Group’s borrowings are at a fixed rate of interest (2017: nil).

Fair Value Interest Rate Risk

If the Group holds fixed rate debt there is a risk that the economic value of a financial instrument will fluctuate because of changes

in market interest rates. The level of fixed rate debt is disclosed in note 19 and it is acknowledged that this risk is a by-product of the

Group’s attempt to manage its cash flow interest rate risk. The Group is also exposed to fair value interest rate risk through the use of

interest rate swaps. The Group accepts this risk as a by-product of its hedging strategy.

Interest on financial instruments classified as floating have their rates repriced at intervals of less than one year. Fixed rate instruments

are fixed until the maturity of the instrument.

The Group constantly analyses its interest rate risk exposure. Within this analysis consideration is given to potential renewals of existing

positions, alternative financing and the mix of fixed and variable interest rates.

The following sensitivity analysis is based on the interest rate exposures in existence at the balance sheet date.

At 31 March 2018, if interest rates had moved, as illustrated in the table below, with all other variables held constant, post tax profit

(including swap fair value movements) would have been affected as follows:

Post Tax Profit

Higher (Lower)

2018

$000

2017

$000

+ 1.0% (100 Basis Points)(1,378)(1,491)

- 0.5% (50 Basis Points) 689 745

Foreign Currency Risk

Foreign currency risk is the risk that the value of the Group’s assets, liabilities and financial performance will fluctuate due to changes

in foreign currency rates.

The Group is primarily exposed to currency risk as a result of its operations in Australia, America, Europe and Asia.

The risk to the Group is that the value of the overseas subsidiaries’ and associates’ financial positions and financial performances will

fluctuate in economic terms and as recorded in the consolidated accounts due to changes in overseas exchange rates.

The Group economically hedges some of the currency risk relating to its Australian operations by holding a portion of its bank

borrowings in Australian dollars. Any foreign currency movement in the net assets of the Australian subsidiaries is partly offset by an

opposite movement in the Australian dollar loan. In addition the Group has loans in United States (US) dollars to assist in funding its US

operations and to offset the variability of future post interest financial performance to foreign exchange rate fluctuations. In addition

the Group has loans in Euros to assist in funding its European operations and to offset the variability of future post interest financial

performance to foreign exchange rate fluctuations. These foreign currency borrowings are held in Australian, US and New Zealand

entities respectively.

Included in bank term loans at 31 March 2018 is a borrowing of EU¤102,700,000 (2017 ¤102,700,000) which has been designated as

a hedge of the net investments in the European subsidiaries. It is being used to hedge the Group’s exposure to changes in exchange

rates on the value of its net investments in Europe. Gains or losses on the retranslation of this borrowing are recognised in other

comprehensive income to offset any gains or losses on translation of the net investments in the subsidiaries. A net after tax loss on the

hedge of the net investment of NZ$8,668,713 (2017 net after tax profit $5,540,661) was recognised in other comprehensive income for

the period.

101
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

2018

AU$000

2017

AU$000

Net Assets Relating to Australian Subsidiaries Exposed to Currency Risk108,09298,093

US$000US$000

Net Assets Relating to American & Asian Subsidiaries Exposed to Currency Risk 87,474 78,943

EU¤000EU¤000

Net Assets Relating to European Subsidiaries Exposed to Currency Risk 29,561 28,298

Currency movements in the foreign denominated balances above are reflected in the Foreign Currency Translation Reserve.

The movements comprised the following:

2018

NZ$000

2017

NZ$000

Retranslation of Net Assets in Foreign Subsidiaries(1,988)(5,260)

Tax on Unrealised Foreign Exchange Gain3,371(2,155)

MOVEMENT IN FOREIGN CURRENCY TRANSLATION RESERVE1,383(7,415)

The Group is exposed to currency risk in relation to trading balances denominated in other than the NZ dollar, principally by the trading

of the Group’s overseas businesses.

At 31 March 2018 the Group has the following monetary assets and liabilities denominated in foreign currencies: 79% of trade accounts

payable (2017 76%), 77% of trade accounts receivable (2017 73%), 85% of cash assets (2017 97%), and 100% of cash liabilities (2017

100%). These amounts are inclusive of the above balances held in foreign subsidiaries.

The following sensitivity is based on the foreign currency risk exposures in existence at the balance sheet date:

At 31 March 2018, had the New Zealand Dollar moved as illustrated in the table below with all other variables held constant, post tax

profit and equity would have been affected as follows:

Judgements of reasonably possible movements:

Post Tax Profit

Higher / (Lower)

Equity

Higher / (Lower)

2018

$000

2017

$000

2018

$000

2017

$000

NZD/USD +10% (1,292)(1,708)(11,201)(10,581)

NZD/USD -10% 1,5802,08713,69012,933

NZD/AUD +10% (2,164) (1,753) (13,593) (12,630)

NZD/AUD -10% 2,6462,14116,61415,437

NZD/EURO +10%(631)(668)(10,193)(8,306)

NZD/EURO -10%772 816 12,459 10,152

The movement in equity is a combination of movement in post tax profit and the movement in the Foreign Currency Translation

Reserve as values of overseas investments in subsidiaries change.

Management believes the balance date risk exposures are representative of the risk exposure inherent in the financial instruments.

Credit Risk

In the normal course of business the Group is exposed to credit risk from financial instruments including cash, trade receivables, loans

to team members and derivative financial instruments.

Receivable balances are monitored on an ongoing basis with the result that, in management’s view, the Group’s exposure to bad debts

is not significant. The Group does not have concentrations of credit risk by industry but does have concentrations by geographical

sectors (refer to Segment Reporting in note 5).

With respect to credit risk arising from the other financial assets of the Group, which comprise cash and cash equivalents, loans to

team members and certain derivative instruments, the Group’s exposure to credit risk arises from default of the counterparty, with a

maximum exposure equal to the carrying amount of these instruments. The Group has a policy only to deal with registered banks or

financial institutions with high quality credit ratings.

It is the Group’s policy that customers considered higher risk who wish to trade on credit terms are subject to credit verification

procedures including an assessment of their independent credit rating, financial position, past experience and industry reputation. Risk

limits are set for each individual customer in accordance with parameters set by the Board. These risk limits are regularly monitored.

102
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (CONTINUED)

Liquidity Risk

Liquidity risk represents the Group’s ability to meet its contractual obligations. The Group’s objective is to maintain a balance between

continuity of funding and flexibility through the use of bank overdrafts, bank loans, and finance leases. The Board considers that,

in general, the Group has sufficient cash flows from operating activities to meet their obligations. If there are projected shortfalls,

management ensures adequate committed finance is available.

At 31 March 2018, none of the Group’s debt will mature in less than one year (2017: nil).

The table below reflects all contractually fixed payments and receivables for settlement, repayments and interest resulting from

recognised financial assets and liabilities, including derivative financial instruments as of 31 March 2018. The respective undiscounted

cash flows for the respective upcoming fiscal years are presented. Cash flows for financial assets and liabilities without fixed amount or

timing are based on the conditions existing at 31 March 2018.

The remaining contractual maturities of the Group’s financial liabilities are:

2018 Year ($000)2017 Year ($000)

<6

months

6-12

months

1-2

years

2-5

YearsTotal

<6

months

6-12

months

1-2

years

2-5

YearsTotal

Term Loan2,6752,6755,351276,104286,8052,7232,7235,445288,474299,365

Overdraft36---36947---947

Creditors295,000---295,000261,206---261,206

Others1,1081,1071,7452,9806,9409699691,5391,1534,630

TOTAL298,8193,7827,096279,084588,781265,8453,6926,984289,627566,148

At balance date, the Group has approximately $194 million (2017: $170 million) of unused credit facilities available for its immediate use.

Fair Value

The Group uses various methods in estimating the fair value of assets carried at fair value. The methods comprise:

• Level 1: the fair value is calculated using quoted prices in active markets

• Level 2: the fair value is estimated using inputs other than quoted prices included in Level 1 that are observable for the asset or

liability, either directly (as prices) or indirectly (derived from prices)

• Level 3: the fair value is estimated using inputs for the asset or liability that are not based on observable market data

The methods for estimating fair value are outlined in the relevant notes to the financial statements. Refer to note 14.

4 SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

In applying the Group’s accounting policies, management continually evaluates judgements, estimates and assumptions based on

experience and other factors, including expectations of future events that may have an impact on the Group. All judgements, estimates

and assumptions made are believed to be reasonable based on the most current set of circumstances available to management. Actual

results may differ from the judgements, estimates and assumptions and the differences may be material. Significant judgements,

estimates and assumptions made by management in the preparation of these financial statements are discussed within the specific

accounting policy or note as shown below:

AREA OF JUDGEMENTNote

Allocation of Goodwill15

Impairment of Goodwill and Intangibles with Indefinite Useful Lives15

Long Service Leave Provision16

Allowance for Impairment Loss on Trade Debtors11

Estimation of Useful Lives of Assets14 & 15

Estimation of Land Valuation14

103
5 SEGMENTAL REPORTING

An operating segment is a component of an entity that engages in business activities from which it may earn revenues and incur

expenses whose operating results are regularly reviewed by the entity’s chief operating decision maker and for which discrete financial

information is available. The Group operates in the domestic supply chain (i.e. moving and storing freight within countries) and air and

ocean freight industries (i.e. moving freight between countries).

New Zealand, Australia, The Americas and Europe are each reported to management as one segment as the businesses there perform

both domestic and air and ocean services.

The accounting policies of the operating segments are the same as those described in the notes in note 2 with the exception of

deferred tax and the fair value of derivative financial instruments which are not reported on a monthly basis.

The segmental results from operations are disclosed below.

Geographical Segments

The following table represents revenue, margin and certain asset information regarding geographical segments for the years ended

31 March 2018 and 31 March 2017.

New

Zealand


Australia

The

Americas


Asia


Europe

Inter-

Segment

2018

$000

OPERATING REVENUE

- Sales to customers

outside the group 666,156 675,217 610,913 117,304 549,270 - 2,618,860

- Inter-segment sales 294 18,631 40,811 64,084 30,228 (154,048) -

TOTAL REVENUE 666,450 693,848 651,724 181,388 579,498 (154,048) 2,618,860

EBITDA 98,633 54,040 26,906 6,861 28,976 - 215,416

Depreciation &

Amortisation 21,174 7,173 5,786 644 13,011 - 47,788

Capital Expenditure 33,463 7,860 6,495 240 21,173 - 69,231

Trade Receivables 85,475 92,321 94,181 15,212 93,488 (18,940) 361,737

Non-current Assets 372,010 174,896 83,823 11,094 223,388 - 865,211

Total Assets 473,466 299,228 200,561 50,897 371,190 (18,940) 1,376,402

Total Liabilities201,965 145,993 114,016 21,996 198,969 (18,940) 663,999

New

Zealand


Australia

The

Americas


Asia


Europe

Inter-

Segment

2017

$000

OPERATING REVENUE

- Sales to customers

outside the group 609,238 568,056 615,280 89,328 451,689 - 2,333,591

- Inter-segment sales 999 17,379 13,785 73,809 20,182 (126,154) -

TOTAL REVENUE 610,237 585,435 629,065 163,137 471,871 (126,154) 2,333,591

EBITDA 91,021 44,930 26,205 8,806 26,580 - 197,542

Depreciation &

Amortisation 18,943 6,843 5,341 639 11,726 - 43,492

Capital Expenditure 38,627 6,222 6,875 577 14,998 - 67,299

Trade Receivables 85,043 80,743 78,418 14,016 73,746 (17,078) 314,888

Non-current Assets 363,308 178,398 86,536 18,261 198,225 - 844,728

Total Assets 455,008 289,716 186,934 51,637 318,548 (17,078) 1,284,765

Total Liabilities208,496 143,285 104,208 23,853 176,399 (17,078) 639,163

104
5 SEGMENTAL REPORTING (CONTINUED)

Reconciliation between Segment EBITDA and the Income Statement

2018

$000

2017

$000

Profit from Operations Before Abnormal Items and Taxation for the Year 160,572 146,770

Interest Income (511) (503)

Derivative Fair Value Movement - -

Non-cash Share Based Payment Expense - 55

Finance Costs 7,567 7,728

Depreciation & Amortisation 47,788 43,492

EBITDA 215,416 197,542

EBITDA is defined as earnings before net interest expense, tax, depreciation, amortisation, abnormal items, royalties, share based

payment expense, minority interests and associates.

There are no customers in any segment that comprise more than 10% of that segment's revenue.

Bank term loan is allocated based on segment net assets excluding bank term loan.

The geographical segments are determined based on the location of the Group's assets.

6 EXPENSES AND OTHER INCOME

The Profit before Taxation is stated:

2018

$000

2017

$000

AFTER CHARGING:

Audit Fees - Parent Company Auditors 1,465 1,405

Audit Fees - Other Auditors 65 82

Other Fees Paid to Parent Co Auditors

Assurance Related Services and Agreed Upon Procedures 8 7

Tax Advice and Compliance 645 709

Financial Statement Compilation 23 23

Other Services including Legal Advice and Accounting Advice 55 -

IT Security Advisory - 325

Employee Benefits Expense

Wages and Salaries 537,805 475,748

Directors’ Fees 678 508

Share-based Payments Expense - 55

TOTAL EMPLOYEE BENEFITS 538,483 476,311

Interest: Variable Loans 7,424 7,575

Finance Leases 143 153

Derivative Fair Value Movement - -

Donations 1,076 907

Rental & Operating Lease Costs 80,830 71,925

AFTER CREDITING OTHER INCOME:

Interest Income 511 503

Net Gain / (Loss) on Foreign Exchange 2,111 3,409

Net Gain / (Loss) on Disposal of Property, Plant & Equipment 1,339 892

Rental Income 1,156 1,129

105
7 INCOME TAX

Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid

to the taxation authorities based on the current period’s taxable income. The tax rates and tax laws used to compute the amount are

those that are enacted or substantively enacted by the balance sheet date.

Deferred income tax is generally provided on all temporary differences at the balance sheet date between the tax bases of assets and

liabilities and their carrying amounts for financial reporting purposes.

Deferred income tax liabilities are recognised for all taxable temporary differences except:

• When the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that

is not a business combination and that, at the time of the transaction, affects neither the accounting profit nor taxable profit or

loss; or

• When the taxable temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures, and

the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not

reverse in the foreseeable future.

Deferred income tax assets are recognised for all deductible temporary differences, carry-forward of unused tax credits and unused

tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and

the carry-forward of unused tax credits and unused tax losses can be utilised, except:

• When the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset

or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting

profit nor taxable profit or loss; or

• When the deductible temporary difference is associated with investments in subsidiaries, associates or interests in joint ventures,

in which case a deferred tax asset is only recognised to the extent that it is probable that the temporary difference will reverse in

the foreseeable future and taxable profit will be available against which the temporary difference can be utilised.

The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent that it is no

longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised.

Unrecognised deferred income tax assets are reassessed at each balance sheet date and are recognised to the extent that it has

become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realised

or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.

Income taxes relating to items recognised directly in equity are recognised in equity and not in profit or loss.

Deferred tax assets and deferred tax liabilities are offset only if a legally enforceable right exists to set off current tax assets against

current tax liabilities and the deferred tax assets and liabilities relate to the same taxable entity and the same taxation authority.

2018

$000

2017

$000

Profit Before Taxation for the Year 153,348 144,322

Prima Facie Taxation at 28% NZ, 30% Australia, 37% USA, 16.5% Hong Kong, 25% China, 25% Europe 44,927 42,012

(31 March 2017 28% NZ, 30% Australia, 41% USA, 16.5% Hong Kong, 25% China, 25% Europe)

Adjusted by the Tax Effect of:

Non-assessable Revenue - (70)

Prior Year Tax Adjustments 384 (335)

Tax Rate Change (722) -

Non-deductible Share Based Payments - 15

Deferred Tax Writeback on Buildings Sold - (248)

Non-deductible Expenses 866 1,425

AGGREGATE INCOME TAX EXPENSE 45,455 42,799

Current Tax 46,764 45,492

Deferred Tax (1,309) (2,693)

45,455 42,799

Imputation Credit Account

2018

$000

2017

$000

THE AMOUNT OF CREDITS AVAILABLE FOR USE IN SUBSEQUENT REPORTING PERIODS 46,412 43,688

106
7 INCOME TAX (CONTINUED)

Recognised Deferred Tax Assets and Liabilities

Balance SheetIncome Statement

2018

$000

2017

$000

2018

$000

2017

$000

(i) Deferred Tax Assets

Doubtful Debts9231,265309133

Provisions:

Annual Leave3,8133,512 (371) (365)

Long Service Leave2,5942,368 (293) (229)

Bonuses5,4385,259 (250) (583)

Superannuation8234 220 (234)

ACC137 (6) 104

Other4,9885,662 870 (395)

Foreign Exchange Impact- - 1,508 (506)

Gross Deferred Tax Assets 17,777 18,307

Set-off of Deferred Tax Liabilities 9,196 9,452

NET DEFERRED TAX ASSETS PER BALANCE SHEET 8,581 8,855

(ii) Deferred Tax Liabilities

Deferred Tax on Property, Plant & Equipment 27,943 28,522 (1,474) (313)

Customer Lists 1,234 1,558 (886) (1,052)

Brand Names 1,966 2,636 (670) -

Unrealised FX Gains / Losses 349 615 (266) 747

Gross Deferred Tax Liabilities 31,492 33,331

Set-off of Deferred Tax Liabilities Against Assets 9,196 9,452

NET DEFERRED TAX LIABILITIES PER BALANCE SHEET 22,296 23,879

DEFERRED TAX (INCOME) / EXPENSE (1,309) (2,693)

8 DIVIDENDS PAID AND PROPOSED

2018

$000

2017

$000

RECOGNISED AMOUNTS

Declared and Paid During the Year to Parent Shareholders

Final Fully Imputed Dividend for 2017: 24.0 cents (2016: 23.0 cents) 24,168 23,160

Interim Fully Imputed Dividend for 2018: 19.0 cents (2017: 17.0 cents) 19,133 17,119

43,301 40,279

UNRECOGNISED AMOUNTS

Final Fully Imputed Dividend for 2018: 26.0 cents (2017: 24.0 cents)26,182 24,168

After the balance date, the above unrecognised dividends were approved by directors' resolution dated 28 May 2018.

These amounts have not been recognised as a liability in 2018 but will be brought to account in 2019.

107
9 EARNINGS PER SHARE

Basic earnings per share is calculated as net profit attributable to members of the Parent, adjusted to exclude any costs of servicing

equity (other than dividends), divided by the weighted average number of ordinary shares.

Diluted earnings per share is calculated as net profit attributable to members of the parent, adjusted for:

• Costs of servicing equity (other than dividends);

• The after tax effect of dividends and interest associated with dilutive potential ordinary shares that have been recognised as

expenses; and

• Other non-discretionary changes in revenues or expenses during the period that would result from the dilution of potential

ordinary shares;

divided by the weighted average number of ordinary shares and dilutive potential ordinary shares.

The following reflects the income used in the basic and diluted earnings per share computations:

Net profit from continuing operations attributable to ordinary equity holders of the Parent.

2018

$000

2017

$000

FOR BASIC AND DILUTED EARNINGS PER SHARE

Net Profit Attributable to Ordinary Equity Holders of the Parent 107,893 101,523

WEIGHTED AVERAGE NUMBER OF SHARES

ThousandsThousands

Weighted Number of Ordinary Shares for Basic Earnings Per Share100,699100,417

Effect of Dilution; Weighted Number of Partly Paid Shares - 130

Weighted Number of Ordinary Shares Adjusted for the Effect of Dilution100,699100,547

CentsCents

Earnings Per Share: Total Operations107.14101.10

Diluted Earnings Per Share: Total Operations107.14100.97

Partly Paid Redeemable Shares granted to team members as described in note 21 were considered to be potential ordinary shares

and have been included in the determination of diluted earnings per share. They have not been included in the determination of basic

earnings per share.

10 CURRENT ASSETS – CASH AND CASH EQUIVALENTS

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits with an original maturity

of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes

in value.

Cash at bank earns interest at floating rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents

represent fair value.

Reconciliation to Cash Flow Statement

For the purposes of the Cash Flow Statement, cash and cash equivalents comprise the following at 31 March:

2018

$000

2017

$000

Cash at Bank and in Hand 80,521 75,312

Bank Overdrafts (36) (947)

AS PER CASH FLOW STATEMENT 80,485 74,365

108
11 CURRENT ASSETS – TRADE DEBTORS

Trade debtors are non-interest bearing and are generally on 7-30 day terms. They are recognised initially at fair value and subsequently

measured at amortised cost using the effective interest method, less an allowance for impairment.

Collectability of trade debtors is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off when identified.

An impairment provision is recognised when there is objective evidence that the Group will not be able to collect the debt. Financial

difficulties of the debtor, default payments or debts more than 6 months’ overdue are considered objective evidence of impairment.

Trade debtors are written off as bad debts when all avenues of collection have been exhausted. Due to the short term nature of these

debtors, their carrying value is assumed to approximate fair value.

2018

$000

2017

$000

Trade Debtors366,178319,459

Allowance for Impairment Loss(4,441)(4,571)

361,737 314,888

Movements in the allowance for impairment were as follows:

Balance at 1 April 4,571 5,394

Charge for the Year 2,773 1,755

Acquired Businesses - -

Amounts Written Off (2,903) (2,578)

BALANCE AT 31 MARCH 4,441 4,571

At 31 March, the ageing analysis of trade receivables is as follows:

$000Total

0-30

Days

31-60

Days

61-90

Days

PDNI*

61-90

Days

CI#

+91

Days

PDNI*

+91

Days

CI#

2018366,178237,43890,079 21,160 454 13,061 3,986

2017319,459227,39461,425 16,150 499 9,919 4,072

* Past due not impaired (PDNI)

# Considered Impaired (CI)

Credit risk management policy is disclosed in note 3.

The maximum exposure to credit risk is the fair value of receivables. Collateral is not held as security, nor is it the Group’s policy to

transfer receivables.

12 CURRENT ASSETS – OTHER RECEIVABLES

2018

$000

2017

$000

Sundry Prepayments and Other Receivables60,811 48,008

CARRYING AMOUNT OF OTHER RECEIVABLES 60,811 48,008

109
13 INVESTMENT IN SUBSIDIARY COMPANIES

Principal Subsidiary Companies all with

31 March Balance Dates Include: Principal Activity

Country of

Incorporation

2018

Shareholding

2017

Shareholding

Daily Freight (1994) LtdDomestic Freight ForwardingNew Zealand

100.0%100.0%

Owens Transport LtdDomestic Freight ForwardingNew Zealand

100.0%100.0%

Mainfreight Air & Ocean LtdAir & Ocean Freight ForwardingNew Zealand

100.0%100.0%

Owens Group LtdGroup ServicesNew Zealand

100.0%100.0%

Mainfreight Distribution Pty LtdDomestic Freight ForwardingAustralia

100.0%100.0%

Owens Transport Pty LtdDomestic Freight ForwardingAustralia

100.0%100.0%

Mainfreight Air & Ocean Pty LtdAir & Ocean Freight ForwardingAustralia

100.0%100.0%

Mainfreight Holdings Pty LtdHolding CompanyAustralia

100.0%100.0%

Mainfreight Finance AustraliaHolding PartnershipAustralia

100.0%100.0%

CaroTrans International Inc.Air & Ocean Freight ForwardingUnited States

100.0%100.0%

Mainfreight, Inc.Domestic & Air & Ocean Freight

Forwarding

United States

100.0%100.0%

Mainfreight International, Inc.Air & Ocean Freight ForwardingUnited States

100.0%100.0%

Mainfreight USA PartnershipHolding PartnershipUnited States

100.0%100.0%

CaroTrans (Chile) LimitadaAir & Ocean Freight ForwardingChile

100.0%100.0%

Mainfreight, Inc.Air & Ocean Freight ForwardingCanada

100.0%100.0%

Mainline MexicoAir & Ocean Freight ForwardingMexico

100.0%100.0%

Mainfreight Hong Kong LtdAir & Ocean Freight ForwardingHong Kong

100.0%100.0%

Mainfreight Express Ltd Air & Ocean Freight ForwardingHong Kong

100.0%100.0%

Mainfreight Int. Logistics (Shanghai) Co LtdAir & Ocean Freight ForwardingChina

100.0%100.0%

Mainline Global Logistics Pte LtdAir & Ocean Freight ForwardingSingapore

100.0%100.0%

Mainfreight Global Taiwan LtdAir & Ocean Freight ForwardingTaiwan

100.0%100.0%

Mainfreight International Logistics LtdAir & Ocean Freight ForwardingThailand

100.0%100.0%

Mainfreight Vietnam Company LtdAir & Ocean Freight ForwardingVietnam

100.0%100.0%

Mainfreight Netherlands Coop UAHolding EntityNetherlands

100.0%100.0%

Mainfreight Netherlands International BVHolding EntityNetherlands

100.0%100.0%

Mainfreight Holding BVHolding EntityNetherlands

100.0%100.0%

Debo Montferland BVHolding EntityNetherlands

100.0%100.0%

Mainfreight Customs Clearance BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Forwarding Netherlands BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Transport Netherlands BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Crossdock BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight BVAir & Ocean Freight ForwardingNetherlands

100.0%100.0%

Wim Bosman C.E.E. BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Logistics Services Netherlands BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Logistics Services Geleen BVDomestic Freight ForwardingNetherlands

100.0%100.0%

SystemPlus Logistics Services BVDomestic Freight ForwardingNetherlands

100.0%100.0%

Mainfreight Support Belgium NVGroup ServicesBelgium

100.0%100.0%

SystemPlus Logistics Services NVDomestic Freight ForwardingBelgium

100.0%100.0%

Mainfreight Forwarding Belgium NVDomestic Freight ForwardingBelgium

100.0%100.0%

Mainfreight Transport Belgium BVBADomestic Freight ForwardingBelgium

100.0%100.0%

Mainfreight Logistics Services Belgium NVDomestic Freight ForwardingBelgium

100.0%100.0%

Mainfreight N.V.Air & Ocean Freight ForwardingBelgium

100.0%100.0%

Mainfreight France SADomestic Freight ForwardingFrance

100.0%100.0%

Mainfreight SASAir & Ocean Freight ForwardingFrance

100.0%100.0%

Mainfreight Poland Sp ZOODomestic Freight ForwardingPoland

100.0%100.0%

Mainfreight Sp ZOOAir & Ocean Freight ForwardingPoland

100.0%100.0%

Mainfreight S.R.L.Domestic Freight ForwardingRomania

100.0%100.0%

Mainfreight Russ LLCDomestic Freight ForwardingRussia

100.0%100.0%

Mainfreight GmbHAir & Ocean Freight ForwardingGermany

100.0%100.0%

Mainfreight Ukraine LLCDomestic Freight ForwardingUkraine

100.0%100.0%

Mainfreight UK LtdAir & Ocean Freight ForwardingUnited Kingdom

100.0%100.0%

Mainfreight Italy SRLAir & Ocean Freight ForwardingItaly

100.0%n/a

110
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, except land, is stated at historical cost less accumulated depreciation and any accumulated impairment

losses. Such cost includes the cost of replacing parts that are eligible for capitalisation when the cost of replacing the parts is incurred.

All other repairs and maintenance are recognised in profit or loss as incurred.

Land is measured at fair value, based on valuations by external independent valuers who apply the International Valuation Standards

Committee International Valuation Standards, less any impairment losses recognised after the date of the revaluation. Land is revalued

at least every three years with the last valuation done as at 31 March 2016.

Depreciation is calculated on a straight-line basis at rates calculated to allocate the assets’ cost, less estimated residual value, over their

estimated useful lives as follows:

Per annum

Landnot depreciated

Buildings 2% to 3%

Leasehold Improvements10% or life of lease if shorter

Plant, Vehicles and Equipment8% to 36%

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each financial year end.

Revaluations of Land

Revaluations increment is credited to other comprehensive income and accumulated in the asset revaluation reserve except to the

extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is

recognised in profit or loss.

Any revaluation decrement is recognised in profit or loss, except to the extent that it offsets a previous revaluation increase for the

same asset, in which case the decrease is debited directly to other comprehensive income to the extent of the credit balance existing

in the revaluation reserve for that asset.

Disposal

An item of property, plant and equipment is de-recognised upon disposal or when no further future economic benefits are expected

from its use or disposal.

Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the

carrying amount of the asset) is included in profit or loss in the year the asset is de-recognised.

(a) Reconciliation of Carrying Amounts at the Beginning and End of the Year


Year Ended 31 March 2018

Land

$000

Buildings

$000

Leasehold

Improvements

$000

Plant, Vehicles

& Equipment

$000

Leased

Plant, Vehicles

& Equipment

$000

Work in

Progress

$000

Total

$000

At 1 April 2017,

Net of Accumulated

Depreciation 154,931 304,347 13,396 80,069 4,140 13,823 570,706

Additions 4,990 5,069 4,152 30,634 222 6,438 51,505

Disposals (195) (202) (57) (3,962) (90) - (4,506)

Transfer Between Asset

Classifications (4,856) 10,170 - 1,624 (1,312) (13,683) (8,057)***

Revaluations - - - - - - -

Depreciation Charge

for the Year (6) (11,670) (2,618) (17,512) (1,400) - (33,206)

Foreign Exchange

Impact 2,203 2,717 (181) 491 376 262 5,868

AT 31 MARCH 2018,

NET OF ACCUMULATED

DEPRECIATION 157,067 310,431 14,692 91,344 1,936 6,840 582,310

Cost or Fair Value 157,113 426,338 35,266 232,384 11,105 6,840 869,046

Accumulated

Depreciation (46) (115,907) (20,574) (141,040) (9,169) - (286,736)

NET CARRYING

AMOUNT 157,067 310,431 14,692 91,344 1,936 6,840 582,310

*** The transfer between asset classification of $8,057,000 comprises transfers out of fixed assets to properties held for sale of

$7,852,000 and transfer out to software intangibles of $205,000.

Work in progress net carrying amount included $1,298,000 for property (2017 $11,570,000).

111
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT (CONTINUED)


Year Ended 31 March 2017

Land

$000

Buildings

$000

Leasehold

Improvements

$000

Plant, Vehicles

& Equipment

$000

Leased

Plant, Vehicles

& Equipment

$000

Work in

Progress

$000

Total

$000

At 1 April 2016,

Net of Accumulated

Depreciation 154,819 269,929 13,216 73,943 6,172 50,934 569,013

Additions 4,595 4,443 2,579 20,396 178 15,505 47,696

Disposals (1,394) (1,266) (61) (3,065) (24) (12) (5,822)

Transfer Between Asset

Classifications - 46,145 24 5,743 - (51,912) -

Revaluations (335) - - - - - (335)

Depreciation Charge

for the Year (6) (11,216) (2,247) (15,887) (1,816) - (31,172)

Foreign Exchange

Impact (2,748) (3,688) (115) (1,061) (370) (692) (8,674)

AT 31 MARCH 2017,

NET OF

ACCUMULATED

DEPRECIATION 154,931 304,347 13,396 80,069 4,140 13,823 570,706

Cost or Fair Value 155,025 402,025 32,707 201,001 20,357 13,823 824,938

Accumulated

Depreciation (94) (97,678) (19,311) (120,932) (16,217) - (254,232)

NET CARRYING

AMOUNT 154,931 304,347 13,396 80,069 4,140 13,823 570,706

At 31 March 2016 independent registered valuers performed a valuation of the Group's New Zealand and overseas land, buildings and

leasehold improvements.

In 2017 and 2018 a small number of valuations were completed across the Group which did not indicate overall material movements in

land valuations. As a result land valuations for 2016 have been retained for 2018. A summary of the 2016 valuations are:

Registered Valuer Country

Weighted Average

Capitalisation Rate Valuation 2016

Extensor Advisory Ltd New Zealand 7.44% NZ$299,230,000

Charter Keck Cramer Australia 7.00% AU$6,050,000

Jones Lang LaSalle Australia 6.46% AU$64,000,000

Cliff Allard Australia 7.06% AU$42,800,000

Centaline Surveyors Ltd Hong Kong n/a HK$37,800,000

DTZ Zadelhoff V.O.F. Netherlands 7.80% EU¤28,055,478

DTZ Zadelhoff BE Belgium 9.11% EU¤29,903,883

Galtier Expertise France 7.30% EU¤5,094,000

Nica Violeta Cornelia Romania 10.20% EU¤6,112,160

GROUP TOTAL NZ$544,088,000

The element of this valuation related to land has been recorded in the financial statements resulting in the revaluation of land by

$51,254,000 (2017 $50,616,000) above cost.

The element of this valuation related to buildings has not been recorded in the financial statements. If it had been recorded a

revaluation in buildings of $75,155,000 (2017 $68,275,000) would have occurred. In addition a deferred tax liability of $10,591,000

(2017 $9,632,000) would have needed to be recorded resulting in an increase in the Revaluation Reserve of $64,564,000 (2017

$58,643,000). In determining these 2017 and 2018 numbers it has been assumed the 2016 valuations apply at these dates.

In determining the fair value of land, the valuers have considered relevant general and economic factors and in particular have

investigated recent sales and leasing transactions of comparable properties that have occurred in the relevant locations within which

the assets sit. The valuers have used two principal approaches which are a capitalisation analysis and a direct comparison approach.

The valuations of land have been determined using some inputs that are not observable in the market, namely capitalisation rate and

the cashflows, and as a result these are considered level 3 valuations.

Included in the Group book values above but not in the valuations are Leasehold Improvements of $12,148,000 (2017 $10,670,000).

Properties held for sale are included in these valuations at $7,852,000 (2017 nil).

Leased plant, vehicles and equipment is pledged as security for the related finance lease liabilities.

112
14 NON-CURRENT ASSETS – PROPERTY, PLANT AND EQUIPMENT (CONTINUED)

(b) Carrying Amounts if Land Was Measured at Cost Less Accumulated Impairment

If Land, including properties for sale, was measured using the cost model the carrying amounts would be as follows:

2018

$000

2017

$000

Cost 111,982 104,315

Accumulated Impairment - -

NET CARRYING AMOUNT 111,982 104,315

15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL

(i) Goodwill

Goodwill acquired in a business combination is initially measured at cost being the excess of the cost of the business combination over

the Group’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities.

Following initial recognition, goodwill is measured at cost less any accumulated impairment losses.

For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each

of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the

combination, irrespective of whether other assets or liabilities of the business acquired are assigned to those units or groups of units.

Each unit or group of units to which the goodwill is so allocated:

• Represents the lowest level within the Group at which the goodwill is monitored for internal management purposes; and

• Is not larger than a segment based on the Group’s operating segments determined in accordance with NZ IFRS 8 Segment

Reporting.

Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units), to

which the goodwill relates. When the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the

carrying amount, an impairment loss is recognised. When goodwill forms part of a cash-generating unit (group of cash-generating

units) and an operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the

carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this manner

is measured based on the relative values of the operation disposed of and the portion of cash-generating unit retained.

Impairment losses recognised for goodwill are not subsequently reversed.

(ii) Intangibles

Intangible assets acquired separately or in a business combination are initially measured at cost. The cost of an intangible asset

acquired in a business combination is its fair value as at the date of acquisition. Following initial recognition, intangible assets are

carried at cost less any accumulated amortisation and any accumulated impairment losses. Internally generated intangible assets,

excluding capitalised development costs, are not capitalised and expenditure is recognised in profit or loss in the year in which the

expenditure is incurred.

The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortised over

the useful life and tested for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation

period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at each financial year-end.

Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are

accounted for prospectively by changing the amortisation period or method, as appropriate, which is a change in accounting estimate.

The amortisation expense on intangible assets with finite lives is recognised in profit or loss in the expense category consistent with

the function of the intangible asset.

Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit (group

of cash-generating units) level. Such intangibles are not amortised. The useful life of an intangible asset with an indefinite life is

reviewed each reporting period to determine whether the indefinite life assessment continues to be supportable. If not, the change in

the useful life assessment from indefinite to finite is accounted for as a change in an accounting estimate and is thus accounted for on

a prospective basis.

113
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

Customer Lists and Relationships

Amortisation method used:

Amortised over the period of expected future benefit from the acquired customer list on a straight line basis generally from four to

10 years.

Internally generated or acquired:

Acquired.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identified an impairment test is completed.

The amortisation method is reviewed at each financial year-end.

Agency Agreements

Amortisation method used:

Amortised over the period of expected future benefit from the acquired agencies on a straight line basis generally from 10 to 20 years.

Internally generated or acquired:

Acquired.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identified an impairment test is completed.

The amortisation method is reviewed at each financial year-end.

Brand Names

Amortisation method used:

The Brand Names are considered to have indefinite useful lives as the Group has rights to these names in perpetuity.

Internally generated or acquired:

Acquired.

Impairment testing:

Tested annually for impairment.

(iii) Software

The Group uses both internal and external resources to develop software. An intangible asset arising from expenditure on an internal

project is recognised only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will

be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic

benefits, the availability of resources to complete the development and the ability to measure reliably the expenditure attributable to

the intangible asset during its development. Following the initial recognition of the expenditure, the cost model is applied requiring the

asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Any expenditure so capitalised is

amortised over the period of expected benefit from the related project.

The carrying value of an intangible asset arising from development expenditure is tested for impairment annually when the asset is not

yet available for use, or more frequently when an indication of impairment arises during the reporting period.

A summary of the policies applied to the Group’s software assets is as follows:

Software

Amortisation method used:

Amortised over the period of expected future benefit from the related project on a straight line basis generally from three to 10 years.

Internally generated or acquired:

Both.

Impairment testing:

Reviewed annually for impairment indicators and when an impairment indicator has been identified an impairment test is completed.

The amortisation method is reviewed at each financial year-end.

Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds

and the carrying amount of the asset and are recognised in profit or loss when the asset is de-recognised.

114
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(a) Reconciliation of Carrying Amounts at the Beginning and End of the Year


Year Ended 31 March 2018

Agency

Agreements

$000

Customer

Lists /

Rel’ships

$000

***

Software

$000

Goodwill

$000

Brand

Names

$000

Total

$000

At 1 April 2017, Net of Accumulated

Amortisation 3,219 7,595 43,086 200,721 10,546 265,167

Adjustment for Movement in

Exchange Rate (17) 808 544 7,198 1,080 9,613

Additions - - 17,726 - - 17,726

Amortisation (421) (2,020) (12,141) - - (14,582)

Disposals - - (46) - - (46)

Impairement - - - - (3,763) (3,763)

Transfer Between Asset Classifications - - 205 - - 205

AT 31 MARCH 2018, NET OF

ACCUMULATED AMORTISATION 2,781 6,383 49,374 207,919 7,863 274,320

Cost (Gross Carrying Amount) 6,829 27,667 115,678 226,956 11,795 388,925

Accumulated Amortisation and

Impairment (4,048) (21,284) (66,304) (19,037) (3,932) (114,605)

NET CARRYING AMOUNT 2,781 6,383 49,374 207,919 7,863 274,320


Year Ended 31 March 2017

Agency

Agreements

$000

Customer

Lists /

Rel’ships

$000

***

Software

$000

Goodwill

$000

Brand

Names

$000

Total

$000

At 1 April 2016, Net of Accumulated

Amortisation 3,733 10,169 33,968 207,644 11,310 266,824

Adjustment for Movement in

Exchange Rate (88) (663) (464) (6,923) (764) (8,902)

Additions - - 19,603 - - 19,603

Amortisation (426) (1,911) (9,983) - - (12,320)

Disposals - - (38) - - (38)

Transfer Between Asset Classifications - - - - - -

AT 31 MARCH 2017, NET OF

ACCUMULATED AMORTISATION 3,219 7,595 43,086 200,721 10,546 265,167

Cost (Gross Carrying Amount) 6,824 25,630 98,064 219,925 10,546 360,989

Accumulated Amortisation

and Impairment (3,605) (18,035) (54,978) (19,204) - (95,822)

NET CARRYING AMOUNT 3,219 7,595 43,086 200,721 10,546 265,167

*** Software included work in progress with a book value at 31 March 2018 of nil (2017 $19,015,000). $4,882,000 of the total

software net carrying amount was internally generated, primarily team member costs for the development of new software systems

(2017 $3,955,000).

115
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(b) Impairment Tests for Goodwill and Brand Names

(i) Description of the cash generating units and other relevant information

Goodwill acquired through business combinations have been allocated to seven groups of cash generating units (CGU’s) for

impairment testing as follows:

New Zealand Domestic

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2017 11.8%). The long-term growth rate used was 2.26% (2017 2.26%).

New Zealand Air & Ocean

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2017 11.8%). The long-term growth rate used was 2.26% (2017 2.26%).

Australian Domestic

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2017 11.8%). The long-term growth rate used was 2.61% (2017 2.61%).

Australian Air & Ocean

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 11.8% (2017 11.8%). The long-term growth rate used was 2.61% (2017 2.61%).

Americas

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 10.6% (2017 10.6%). The long-term growth rate used was 2.06% (2017 2.06%).

Asia

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 13.2% (2017 13.2%). The long-term growth rate used was 3.30% (2017 3.30%).

Europe

The recoverable amount has been determined based on a value in use calculation using cash flow projections based on financial

forecasts approved by senior management covering a four-year period. The pre-tax discount rate applied to cash flow projections

is 12.5% (2017 12.5%). The long-term growth rate used was 1.73% (2017 1.73%).

(ii) Carrying amount of goodwill and brand names allocated to each group of cash generating units

2018

$000

2017

$000

New Zealand Domestic 12,215 12,215

New Zealand Air & Ocean 8,549 8,549

Australian Domestic 5,386 5,517

Australian Air & Ocean 16,427 16,887

Americas 63,874 65,764

Asia 10,092 10,092

Europe 99,239 92,243

215,782 211,267

(iii) Key assumptions used in value in use calculations for cash generating units (CGU’s)

The calculation of value in use for all CGU’s is most sensitive to the following assumptions; EBITDA, discount rates and growth

rates used.

EBITDA is based on the average achieved in the last 12 months allowing for expected efficiency, sales and utilisation gains

Discount rates reflect management’s estimate of the time value of money and the risks specific to each unit.

For the purposes of impairment testing a terminal growth rate has been used for all segments based on the long-term industry

and country averages.

116
15 NON-CURRENT ASSETS – INTANGIBLE ASSETS AND GOODWILL (CONTINUED)

(iv) Sensitivity to changes in assumptions

With regard to the assessment of the value in use for all CGU’s, management believes that no reasonably possible change in any

of the above key assumptions would cause the carrying values of the units to materially exceed its recoverable amount with the

exception of Europe.

The European goodwill impairment test is particularly sensitive to assumptions around future earnings/cashflow levels. If each

year’s forecasted EBITDA was reduced by 35.82% Europe’s recoverable amount would equal its carrying amount.

16 EMPLOYEE ENTITLEMENTS

(i) Wages, Salaries, Annual Leave and Sick Leave

Liabilities for wages and salaries, including non-monetary benefits, annual leave and accumulating sick leave expected to be

settled within 12 months of the reporting date are recognised in respect of employees’ services up to the reporting date. They

are measured at the amounts expected to be paid when the liabilities are settled. Liabilities for non-accumulating sick leave are

recognised when the leave is taken and are measured at the rates paid or payable.

(ii) Long Service Leave

The liability for long service leave is recognised and measured as the present value of expected future payments to be made

in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is

given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future

payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and

currencies that match, as closely as possible, the estimated future cash outflows.

2018

$000

2017

$000

CURRENT

Long Service Leave 7,868 7,189

Annual Leave 25,106 21,625

Bonus Accrual 20,399 19,093

53,373 47,907

NON-CURRENT

Long Service Leave 1,098 834

Defined Benefit Pension Scheme 310 635

Other 2,226 2,331

3,634 3,800

17 PROVISIONS

Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that

an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of

the amount of the obligation. When the the Group expects some or all of a provision to be reimbursed, for example under an insurance

contract, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. The expense

relating to any provision is presented in the income statement net of any reimbursement.

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present

obligation at the balance sheet date. If the effect of the time value of money is material, provisions are discounted using a current

pre-tax rate that reflects the time value of money and the risks specific to the liability. The increase in the provision resulting from the

passage of time is recognised in finance costs.

There were no significant provisions in the 2018 year (2017 nil).

117
18 TRADE CREDITORS AND ACCRUALS

Trade payables and other payables are carried at amortised cost. They represent liabilities for goods and services provided to the

Group prior to the end of the financial year that are unpaid and arise when the Group becomes obliged to make future payments in

respect of the purchase of these goods and services.

The amounts are unsecured and are usually paid within 30 days of recognition. Due to their short-term nature they are not discounted.

2018

$000

2017

$000

CURRENT LIABILITIES

Trade Creditors & Accruals 295,000 261,206

19 INTEREST-BEARING LOANS AND BORROWINGS

All loans and borrowings are initially recognised at the fair value of the consideration received less directly attributable transaction

costs. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the effective

interest method. Fees paid on the establishment of loan facilities that are yield related are included as part of the carrying amount

of the loans and borrowings. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer

settlement of the liability for at least 12 months after the balance sheet date.

Borrowing Costs

Borrowing costs are recognised as an expense when incurred unless funding costs have been incurred which are directly attributable

to the acquisition, construction, or production of a qualifying asset in which case funding costs are included within the cost of the

asset. Capitalisation of borrowing costs cease when substantially all the activities necessary to prepare the qualifying asset for its

intended use or sale are complete. There were no borrowing costs capitalised in 2018 (2017 $410,314). The capitalisation rate in 2017

was 3.1%.

The Bank Term Loan falls due for repayment in the following periods:

2018

$000

2017

$000

Non-current 270,753 283,029

A long-term revolving facility of NZ$95,000,000 plus US$10,000,000 with the Westpac Banking Corporation (Westpac) was

established on 6 June 2014 expiring on 4 April 2022.

A long-term revolving facility of NZ$30,000,000 plus US$5,000,000 plus EU¤35,000,000 with the Commonwealth Bank of Australia

(CBA) was established on 6 June 2014 expiring on 4 April 2020.

A long-term revolving facility of NZ$60,000,000 plus US$10,000,000 plus EU¤30,000,000 with the Hongkong and Shanghai Banking

Corporation (HSBC) was established on 5 June 2014 expiring on 4 April 2022.

A long-term revolving facility of NZ$40,000,000 plus US$15,000,000 plus EU¤10,000,000 with the MUFG Bank (MUFG) was

established on 5 June 2014 expiring on 4 April 2022.

A long-term revolving facility of EU¤30,000,000 with ING Belgium NV/SA (ING) was established on 15 August 2017 expiring on

4 April 2022.

All facilities operate under a negative pledge and cross company guarantees.

The facilities allow the borrowing Group to offset deposits against borrowings when calculating indebtedness for covenant compliance.

These loan facilities are at a floating interest rate. Banking covenants remain unchanged. Debt approximates fair value due to floating

nature of current drawdowns.

Interest was payable during the year at the average rate of 1.96% per annum (2017 2.11%).

118
20 LEASES

The determination of whether an arrangement is or contains a lease is based on the substance of the arrangement and requires an

assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement

conveys a right to use the asset.

Group as a Lessee

Finance leases, which transfer to the Group substantially all the risks and benefits incidental to ownership of the leased item, are

capitalised at the inception of the lease at the fair value of the leased asset or, if lower, at the present value of the minimum lease

payments. Lease payments are apportioned between the finance charges and reduction of the lease liability so as to achieve a constant

rate of interest on the remaining balance of the liability. Finance charges are recognised as an expense in profit or loss.

Capitalised leased assets are depreciated over the shorter of the estimated useful life of the asset and the lease term if there is no

reasonable certainty that the Group will obtain ownership by the end of the lease term.

Operating lease payments are recognised as an expense in the income statement on a straight-line basis over the lease term. Operating

lease incentives are recognised as a liability when received and subsequently reduced by allocating lease payments between rental

expense and reduction of the liability.

At balance date the Group had the following lease commitments:

2018

$000

2017

$000

FINANCE LEASE LIABILITIES

Payable:

– Not Later than One Year 2,267 1,909

– Later than One Year but not Later than Two Years 1,627 1,420

– Later than Two Years but not Later than Five Years 2,954 1,144

– After Five Years 88 -

Minimum Lease Payments 6,936 4,473

Less Future Finance Charges (352) (199)

6,584 4,274

CLASSIFIED IN THE STATEMENT OF FINANCIAL POSITION AS:

Current 2,077 1,801

Non-current 4,507 2,473

6,584 4,274

OPERATING LEASE COMMITMENTS (NON-CANCELLABLE)

– Not Later than One Year 83,842 81,307

– Later than One Year but not Later than Two Years 71,847 67,230

– Later than Two Years but not Later than Five Years 109,412 98,590

– After Five Years 192,273 183,851

457,374 430,978

119
21 CONTRIBUTED EQUITY

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in

equity as a deduction, net of tax, from the proceeds.

2018

$000

2017

$000

Authorised, Issued and Fully Paid Up Capital

100,698,548 ordinary shares (2017 100,698,548) 85,821 85,821

Nil ordinary shares partly paid to 1c (2017 nil)

Ordinary shares do not have a par value.

All ordinary shares have equal voting rights and share equally in dividends and any surplus on winding up to the extent that they are

paid up.

Movements in Ordinary Shares on Issue

2018

Shares

2017

Shares

2018

$000

2017

$000

Opening Balance 100,698,548 99,573,548 85,821 73,912

Employee Share Based Payments Scheme(i) - - - 55

Exercise of Partly Paid Share Scheme(ii) - 1,125,000 - 11,854

CLOSING BALANCE 100,698,548 100,698,548 85,821 85,821

(i) and (ii) Refer note 25.

At 31 March 2018 there were no partly paid shares outstanding (2017 nil).

Capital Management

When managing capital, the Board of Directors’ (the “Board”) objective is to ensure the entity continues as a going concern as well as

to maintain optimal returns to shareholders and benefits for other stakeholders. The Board also aims to maintain a capital structure

that ensures the lowest cost of capital available to the entity. The capital structure of the Group consists of Shareholders’ Equity and

debt.

The Board is periodically reviewing and adjusting the capital structure to take advantage of favourable costs of capital. As the market

is constantly changing, the Board may change the amount of dividends to be paid to shareholders, return capital to shareholders, issue

new shares or sell assets to reduce debt.

The Board has no current plans to issue further shares on the market.

The Board monitors capital through the Group gearing ratio (net debt / net debt and equity).

2018

$000

2017

$000

Total Borrowings 277,373 288,250

Less Cash and Cash Equivalents (80,521) (75,312)

Net Debt196,852212,938

Total Equity712,403645,602

NET DEBT AND EQUITY909,255858,540

Gearing Ratio21.6%24.8%

120
22 RECONCILIATION OF CASH FLOWS WITH REPORTED NET SURPLUS

2018

$000

2017

$000

Net Surplus After Taxation 107,893 101,523

Non-cash Items:

Depreciation and Amortisation 47,788 43,492

Share Based Payments - 55

Earnout Reversal of Accrual - (250)

(Increase) / Decrease in Deferred Tax Asset 274 (300)

Increase / (Decrease) in Deferred Tax Liability (1,583) (2,393)

154,372 142,127

Add / (Less) Movements in Other Working Capital

Items, Net of Effect of Acquisitions:

(Increase) / Decrease in Accounts Receivable (46,849) (21,694)

(Increase) / Decrease in Other Receivables (13,005) (3,317)

Increase / (Decrease) in Accounts Payable 45,704 7,372

Increase / (Decrease) in Interest Payable (462) (322)

(Increase) / Decrease in Interest Receivable 4 9

Increase / (Decrease) in Taxation Payable (239) 8,236

Increase / (Decrease) in Net GST 27 644

Adjustment for Movement in Exchange Rate 2,023 (937)

Less Items Classified as Investing Activity:

Net (Surplus) / Deficit on Sale of Fixed Assets (1,339) (892)

NET CASH INFLOW FROM OPERATING ACTIVITIES 140,236 131,226

23 RELATED PARTIES

In addition to transactions disclosed elsewhere in these financial statements, the Group transacted with the following related parties

during the period:

Name of Related PartyNature of RelationshipType of Transactions

2018

Value of

Transactions

$000

2017

Value of

Transactions

$000

C. Howard-SmithDirector & ShareholderLegal Fees 503 485

24 KEY MANAGEMENT PERSONNEL

2018

$000

2017

$000

COMPENSATION OF KEY MANAGEMENT PERSONNEL

Short-term Employee Benefits 8,874 7,830

Share Based Payments - 30

Termination Benefits - -

8,874 7,860

There were no partly paid shares held by key management personnel at balance date.

121
25 SHARE-BASED PAYMENT TRANSACTIONS

(a) Recognised Share-based Payment Expenses

The expense recognised for employee services received during the year from partly paid share scheme is shown in the table below:

2018

$000

2017

$000

Partly Paid Shares issued May 2013 maturing July 2016 - 55

(b) Summary of Partly Paid Shares Issued

The following table illustrates the number (No.) and weighted average exercise prices (WAEP) of, and movements in, partly paid shares

issued during the year:

2018

No.

2018

WAEP

2017

No.

2017

WAEP

Outstanding at the Beginning of the Year - - 1,200,000 10.56

Issued During the Year - - - -

Lapsed During the Year - - (75,000) 10.56

Exercised During the Year - - (1,125,000) 10.56

OUTSTANDING AT THE END OF THE YEAR - - - -

There were no partly paid shares exercisable at the End of the Year - - - -

26 BUSINESS COMBINATIONS

The acquisition method of accounting is used to account for all business combinations regardless of whether equity instruments or

other assets are acquired. Cost is measured as the fair value of the assets given, shares issued or liabilities incurred or assumed at the

date of exchange. Where equity instruments are issued in a business combination, the fair value of the instruments is their published

market price as at the date of exchange unless, in rare circumstances, it can be demonstrated that the published price at the date of

exchange is an unreliable indicator of fair value and that other evidence and valuation methods provide a more reliable measure of fair

value. Transaction costs arising on the issue of equity instruments are recognised directly in equity.

Except for non-current assets or disposal groups classified as held for sale (which are measured at fair value less costs to sell), all

identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair

values at the acquisition date, irrespective of the extent of any minority interest. The excess of the cost of the business combination

over the net fair value of the Group’s share of the identifiable net assets acquired is recognised as goodwill. If the cost of acquisition is

less than the Group’s share of the net fair value of the identifiable net assets of the subsidiary, the difference is recognised as a gain in

the income statement, but only after a reassessment of the identification and measurement of the net assets acquired.

Where settlement of any part of the consideration is deferred, the amounts payable in the future are discounted to their present

value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar

borrowing could be obtained from an independent financier under comparable terms and conditions.

There were no new material acquisitions during the financial year ended 31 March 2018 (2017 nil).

27 ABNORMAL ITEMS

During the year the Group had $7,224,000 of abnormal expenses (2017 $2,698,000). The related after tax expense was $5,048,000

(2017 $1,891,000).

In the year the Group had no abnormal gains (2017 $250,000). The related after tax gain was $722,000 (2017 $250,000).

These items comprised of:

20182017

Pre-Tax

$000

Ta x

$000

After Tax

$000

Pre-Tax

$000

Ta x

$000

After Tax

$000

Brand Name Impairment *** (3,763) 941 (2,822) - - -

Redundancies (3,461) 1,235 (2,226) (2,698) 807 (1,891)

Tax Rate Changes - 722 722 - - -

Earnout Accrual Written Back - - - 250 - 250

(7,224) 2,898 (4,326) (2,448) 807 (1,641)

*** With the process of rebranding our European operations to Mainfreight underway it was decided to impair the purchased brand of

Wim Bosman by one third in the 2018 financial year. This impairment entry has no cash impact.

122
28 CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

The Group had the following capital commitments at 31 March 2018 totalling $33,588,943 (2017 $3,344,528).

- Auckland Land17,233,000

- Whangarei Freight Facility Extension2,084,345

- Auckland Airfreight Equipment1,854,100

- Christchurch Airfreight Facility97,745

- American Equipment382,228

- Europe Building Improvements2,873,205

- Europe Equipment399,829

- Melbourne Land7,438,800

- Australian Equipment1,225,691

There are additional bank performance guarantees and bonds totalling $25,169,000 (2017 $21,831,000) undertaken by the Group.

2018

$000

2017

$000

GUARANTEES COMPRISE:

Rental Guarantee 671 640

Custom Guarantees 12,592 11,261

13,263 11,901

PERFORMANCE BONDS COMPRISE:

NZX (New Zealand Stock Exchange) 75 75

European IATA Bond 627 560

European Banking Guarantees 8,624 7,864

European Other Guarantees 1,701 632

European Government Licensing Guarantees 879 799

11,906 9,930

The Group is party to sub-lease / tenancy agreements where third parties lease excess office / industrial space from the Group.

In the event of default by third parties the Group would be exposed to these liabilities.

As a result of the IRD’s programme of routine and regular tax audits, the Group anticipates that IRD audits may occur in the future.

The Group is similarly subject to routine tax audits in certain overseas jurisdictions. The ultimate outcome of any future tax audits

cannot be determined with an acceptable degree of reliability at this time. Nevertheless, the Group believes that it is making adequate

provision for its taxation liabilities. However, there may be an impact to the Group if any revenue authority investigations result in an

adjustment that increases the Group’s taxation liabilities.

The Group can also be subject to legal claims as a result of conducting business. The ultimate outcome of any future legal claims

cannot be determined with an acceptable degree of reliability at this time. Nevertheless, the Group believes that it is making adequate

provision for its legal liabilities. However there may be an impact to the Group if any legal cases result in an adjustment that increases

the Group’s legal liabilities.

29 SUBSEQUENT EVENTS

A dividend of 26.0 cents per share was declared on 28 May 2018 date totalling $26,181,622. Payment date is to be 20 July 2018.

123
Chartered Accountants

A member firm of Ernst & Young Global Limited

Independent Auditor’s Report to the Shareholders of Mainfreight Limited

Report on the Audit of the Financial Statements

Opinion

We have audited the financial statements of Mainfreight Limited (“the company”) and its subsidiaries (together “the group”) on

pages 93 to 122, which comprise the consolidated balance sheet of the group as at 31 March 2018, and the consolidated income

statement, consolidated statement of comprehensive income, consolidated statement of changes in equity and the consolidated cash

flow statement for the year then ended of the group, and the notes to the consolidated financial statements including a summary of

significant accounting policies.

In our opinion, the consolidated financial statements on pages 93 to 122 present fairly, in all material respects, the consolidated

financial position of the group as at 31 March 2018 and its consolidated financial performance and cash flows for the year then ended

in accordance with New Zealand equivalents to International Financial Reporting Standards and International Financial Reporting

Standards.

This report is made solely to the company’s shareholders, as a body. Our audit has been undertaken so that we might state to the

company’s shareholders those matters we are required to state to them in an auditor’s report and for no other purpose. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s

shareholders as a body, for our audit work, for this report, or for the opinions we have formed.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (New Zealand). Our responsibilities under those

standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.

We are independent of the group in accordance with Professional and Ethical Standard 1 (revised) Code of Ethics for Assurance

Practitioners issued by the New Zealand Auditing and Assurance Standards Board, and we have fulfilled our other ethical responsibilities

in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Ernst & Young has provided taxation compliance and advice, agreed upon procedure and legal services to the group and financial

statement compilation services to various subsidiaries. We have no other relationship with, or interest in, the group. Partners

and employees of our firm may deal with the group on normal terms within the ordinary course of trading activities of the business of

the group.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated

financial statements of the current year. These matters were addressed in the context of our audit of the consolidated financial

statements as a whole, and in forming our opinion thereon, but we do not provide a separate opinion on these matters. For each

matter below, our description of how our audit addressed the matter is provided in that context.

We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the financial statements section of

the audit report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to

respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures,

including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying

consolidated financial statements.

124
Chartered Accountants

A member firm of Ernst & Young Global Limited

1. Scoping of the audit

Why significantHow our audit addressed the key audit matter

Mainfreight is a global business with 75% of the group’s revenue

being generated in countries other than New Zealand.

A significant area of focus when conducting the audit was

ensuring that sufficient audit evidence was obtained in differing

geographic locations and businesses to enable us to reach our

opinion on the consolidated financial statements as a whole.

This was both with respect to the determination and allocation

of materiality as well as the determination of the nature and

extent of procedures to be performed in each location.

As group auditor, EY New Zealand determined the required

extent and nature of audit procedures required by component

teams in all significant locations.

The primary team considered the nature, size and risks associated

with each of the Group’s significant businesses. As a result of

this assessment each business was allocated a scope reflecting

the scale and nature of audit procedures to be performed. We

either performed or instructed component teams to perform the

audit work required for group reporting purposes in relation to

significant businesses in New Zealand, Australia, USA, Europe

and Asia. A number of remaining businesses were subjected to

analytical procedures by the Group audit team.

The Group audit team instructed other audit teams as to the

significant risk areas to be considered and the information to be

reported back. The Group audit team determined the materiality

to be applied by each team having regard to the size and risk

profile of the businesses across the Group.

All component teams were required to provide written

confirmation to the Group audit team explaining the work

performed, the results of that work as well as key documents

supporting any significant findings or observations.

Members of the Group audit team visited businesses and audit

teams in all significant non New Zealand locations (Australia,

USA, Europe and Asia). During these visits, the work performed

by each team was discussed as were the findings relevant to the

Group audit.

We report to the Audit Committee;

i) The results of audit procedures and testing performed by

both the primary and component teams; and

ii) Any misstatements identified that warrant reporting based

on quantitative or qualitative grounds.

125
Chartered Accountants

A member firm of Ernst & Young Global Limited

2. Impairment testing of goodwill allocated to the European business

Why significantHow our audit addressed the key audit matter

As at 31 March 2018, goodwill of $91.4m related to the group’s

European business, was recorded in the group statement of

financial position. As required by NZ IAS 36 Impairment of

Assets (NZ IAS 36) the group performs an annual impairment

test for each cash generating unit (CGU), or group of CGUs, to

which goodwill has been allocated.

A value in use model was used for this assessment which

requires the use of assumptions in estimating and discounting

future cash flows.

As disclosed in Note 15, whilst the group’s assessment indicates

that the carrying value of goodwill related to the European

business does not exceed its recoverable amount, there are

reasonably possible changes in key assumptions that could

result in an impairment.

In obtaining sufficient audit evidence:

• We involved our New Zealand valuation specialists to assess

whether the methodology applied in the value in use model

for the European business met the requirements of NZ IAS 36.

• Our assessment included involvement of our valuation

specialists in Europe who are familiar with business valuation

factors used in that market, including discount rates.

• We assessed the appropriateness of the cash flow forecasts

taking into account historical cash flows, our knowledge of

the business and relevant external information.

• We performed sensitivity analysis around key drivers of the

impairment model, including the sensitivity of the results to

changes in future projected cash flows.

• We assessed whether the assumptions which have the most

significant effect on the determination of the recoverable

amount of goodwill have been appropriately disclosed in the

consolidated financial statements.

3. Revenue recognition of International Freight

Why significantHow our audit addressed the key audit matter

As disclosed in Note 2(f) of the consolidated financial statements,

revenues derived from international freight forwarding are

recognised for exports on freight departure and for imports on

freight arrival.

Revenue derived from international freight forwarding was a

key audit matter as, collectively, material revenue transactions

can occur close to year end and there is a risk that revenue is

recognised in the incorrect period.

In obtaining sufficient audit evidence:

• We evaluated the group policies and practices regarding

the timing and nature of services provided.

• We tested recognition of a sample of revenue transactions

recorded before year end to establish whether they were

recorded in the correct period. This included agreement to

shipping documentation or other documentation indicating

the timing of shipment.

• At certain locations we completed analytical procedures

considering patterns of reported revenues and margins

before and after year end. We also analysed credit notes

issued after year end to assess whether these could

significantly impact revenue recognised within the 2018

financial year.

126
Chartered Accountants

A member firm of Ernst & Young Global Limited

Information Other than the Financial Statements and Auditor’s Report

The directors of the company are responsible for the Annual Report, which includes information other than the consolidated financial

statements and auditor’s report.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of

assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing

so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge

obtained during the audit, or otherwise appears to be materially misstated.

If, based upon the work we have performed, we conclude that there is a material misstatement of this other information, we are

required to report that fact. We have nothing to report in this regard.

Directors’ Responsibilities for the Financial Statements

The directors are responsible, on behalf of the entity, for the preparation and fair presentation of the consolidated financial statements

in accordance with New Zealand equivalents to International Financial Reporting Standards and International Financial Reporting

Standards, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that

are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the directors are responsible for assessing on behalf of the entity the group’s

ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis

of accounting unless the directors either intend to liquidate the group or cease operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is

a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards on Auditing (New

Zealand) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered

material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on

the basis of these consolidated financial statements.

A further description of the auditor’s responsibilities for the audit of the financial statements is located at External Reporting Board’s

website https://xrb.govt.nz/Site/Auditing_Assurance_Standards/Current_Standards/Page1.aspx.

The engagement partner on the audit resulting in this independent auditor’s report is Simon Brotherton.

Auckland

26 June 2018

127
Statutory Information

DIRECTORS

The following people held office or ceased to hold office as Director during the year and received the following remuneration including

benefits during the year:

Name

Remuneration

2018

Remuneration

2017

Current Director or Date Appointed

or Resigned

Bruce Plested1 - - Current

Don Braid2 $2,636,867$2,216,120Current

Simon Cotter$113,000$113,000Current

Carl Howard-Smith3 $113,000$113,000Current

Bryan Mogridge$113,000$113,000Current

Richard Prebble$113,000$113,000Current

Sue Tindal$113,000$28,250Current

Kate Parsons$113,000$28,250Current

1. Elected not to receive director fees in 2017 and 2018 years.

2. The remuneration comprised:

20182017

Base Salary2,000,0001,800,000

Discretionary Performance Bonus ***558,867401,119

Vehicle and Other Non-cash78,00015,000

$2,636,867$2,216,119

*** The discretionary performance bonus relates to the previous financial year based on that year’s revenue and profit growth as well as other quality KPI's.

A maximum of 33.3% of base salary is payable. There were no share based payments.

3. Excludes legal fees (refer to note 23 to the Financial Statements).

EMPLOYEES’ REMUNERATION

The Mainfreight Group paid remuneration including benefits during the year in excess of $100,000 in the following bands (excluding directors):

Remuneration

New Zealand

Based

Number of

Employees

Overseas

Based

Number of

Employees

$100,000 - $110,00029141

$110,000 - $120,00034112

$120,000 - $130,0002069

$130,000 - $140,0002262

$140,000 - $150,000946

$150,000 - $160,000929

$160,000 - $170,000524

$170,000 - $180,000527

$180,000 - $190,000517

$190,000 - $200,000312

$200,000 - $210,000516

$210,000 - $220,000210

$220,000 - $230,00035

$230,000 - $240,00017

$240,000 - $250,00025

$250,000 - $260,00015

$260,000 - $270,0004

$270,000 - $280,00015

$280,000 - $290,00013

$290,000 - $300,0008

$300,000 - $310,00013

$310,000 - $320,0002

$320,000 - $330,00012

$330,000 - $340,0002

Remuneration

New Zealand

Based

Number of

Employees

Overseas

Based

Number of

Employees

$340,000 - $350,00021

$350,000 - $360,0002

$360,000 - $370,0001

$370,000 - $380,00013

$390,000 - $400,0002

$400,000 - $410,0001

$410,000 - $420,0001

$420,000 - $430,0001

$440,000 - $450,00011

$460,000 - $470,0001

$470,000 - $480,0001

$510,000 - $520,0002

$550,000 - $560,0001

$560,000 - $570,0002

$580,000 - $590,00011

$590,000 - $600,0001

$640,000 - $650,0001

$660,000 - $670,0001

$670,000 - $680,0001

$700,000 - $710,0001

$790,000 - $800,0001

$840,000 - $850,0001

TOTAL NUMBER OF EMPLOYEES169639

LAST YEAR COMPARISONS133487

Overseas based remuneration is converted to New Zealand dollars.

128
DONATIONS AND AUDITORS’ FEES

Donations and auditors’ fees are set out in note 6 of the Financial Statements.

DIRECTORS’ SHAREHOLDINGS AT BALANCE DATE

20182017

BG Plested

- shares held with beneficial interest 16,020,562 16,020,562

- held by associated persons 1,303,650 1,306,450

DR Braid

- shares held with beneficial interest 2,807,890 2,807,890

- held by associated persons49,253 13,830

SR Cotter

- shares held with beneficial interest 75,000 75,000

- held by associated persons 7,570 7,570

CG Howard-Smith

- held as trustee of staff share purchase scheme 7,850 35,350

- shares held with beneficial interest 100,000 100,000

BW Mogridge

- shares held with beneficial interest 200,000 200,000

RW Prebble

- shares held with beneficial interest 88,274 88,274

SM Tindal

- shares held with beneficial interest - -

CL Parsons

- shares held with beneficial interest - -

TOTAL DIRECTORS 20,660,049 20,654,926

Directors’ shareholdings at balance date were 20.52% of total shares issued.

SUBSTANTIAL PRODUCT HOLDERS

The following information is given pursuant to Section 293 of the Financial Markets Conduct Act 2013.

The following are recorded by the Company as at 31 March 2018 as Substantial Product Holders in the Company, and have declared the

following relevant interest in quoted financial products under the Financial Markets Product Act 2013:

B Plested, C Howard-Smith & D Braid as trustees of Rorohara No.2 Trust 16,217,562

Fisher Funds Management Ltd 5,085,353

The total number of quoted financial products issued by the Company as at 31 March 2018 was 100,698,548.

129
LARGEST PRODUCT HOLDERS AS AT 2 MAY 2018

Total Number

Held%

B Plested, C Howard-Smith & D Braid as trustees of Rorohara No.2 Trust16,017,76615.91%

TEA Custodians Ltd6,664,8986.62%

Citibank Nominees (New Zealand) Ltd5,518,8725.48%

HSBC Nominees (New Zealand) Ltd – NZCSD4,405,6074.38%

JB Were (NZ) Nominees Ltd3,803,2693.78%

Custodial Services Ltd A/c 33,493,5613.47%

HSBC Nominees (New Zealand) Ltd A/c State Street3,189,5773.17%

Accident Compensation Corporation3,123,3933.10%

JP Morgan Chase Bank2,846,1192.83%

Australian Foundation Investment Company Ltd2,840,0002.82%

DR Braid Family Interests2,807,8902.79%

FNZ Custodians Ltd2,641,0002.62%

Forsyth Barr Custodians Ltd2,630,7412.61%

BNP Paribas Nominees (NZ) Ltd – COGN 401,844,7161.83%

Custodial Services Ltd A/c 41,641,0811.63%

BNP Paribas Nominees (NZ) Ltd1,536,5761.53%

ANZ Wholesale Australasian Share Fund1,259,5141.25%

HSBC Nominees A/C NZ Superannuation Fund Nominees Ltd – NZCSD1,167,4751.16%

National Nominees NZ Ltd1,099,4941.09%

Custodial Services Ltd A/c 21,069,1691.06%

SPREAD OF PRODUCT HOLDERS AS AT 2 MAY 2018

Size of Shareholding

Number

of Holders%

Total Number

Held%

1 - 999 3,314 44.44% 1,448,797 1.44%

1,000 - 4,999 3,260 43.72% 6,603,332 6.56%

5,000 - 9,999 481 6.45% 3,131,607 3.11%

10,000 - 49,999 304 4.08% 5,300,176 5.26%

50,000 - 99,999 37 0.49% 2,393,767 2.38%

100,000 - 999,999 41 0.55% 12,220,151 12.13%

1,000,000 - PLUS 20 0.27% 69,600,718 69.12%

TOTAL 7,457 100.00% 100,698,548 100.00%

Interests Register


There were no entries made in the interests register during the year.

130
Five Year Review

The table below provides a summary of key performance and financial statistics.

Notes

2018

$000

2017

$000

2016

$000

2015

$000

2014

$000

Net Sales 2,618,349 2,333,088 2,284,226 2,053,716 1,923,526

EBITDA1 215,416 197,542 174,847 162,195 149,187

EBITA2 167,628 154,050 135,527 128,033 117,228

Abnormal Items After Taxation3 4,326 1,641 572 1,075 (12,147)

Net Interest Cost 7,056 7,225 8,372 6,638 6,838

NET PROFIT BEFORE ABNORMAL

ITEMS FOR THE YEAR 112,219 103,164 88,176 83,480 77,491

Net Profit After Abnormal Items for the Year

(NPAT)4 107,893 101,523 87,604 82,405 89,638

PRO-FORMA CASH FLOW5 160,007 146,711 127,852 117,998 109,752

Net Tangible Assets6 487,457 423,521 348,217 293,062 225,679

Net Debt7 196,852 212,938 265,205 244,657 208,594

Total Assets 1,376,402 1,284,765 1,278,577 1,124,455 975,827

Total Liabilities 663,999 639,163 697,504 615,837 533,607

EBIT Margin (Before Abnormals) (%)6.46.65.96.26.1

Equity Ratio (%)835.433.027.226.123.1

Assets to Liabilities Ratio (%)207.3201.0183.3182.6182.9

Return on NTA (%)922.124.025.228.139.7

Net Interest Cover (x)1023.7621.3216.1919.2917.14

Dividends covered by Net Profit after

abnormals (x)2.382.462.382.432.83

Dividends covered by Net Profit before

abnormals (x)2.482.502.392.472.45

Earnings Per Share (cps)11107.14101.1087.9882.8790.52

ADJUSTED EARNINGS PER SHARE (CPS)11,12111.44102.7488.5583.9578.26

Pro-forma Cash Flow Per Share (cps)11158.90146.10128.40118.67110.83

NTA Per Share (cps)11484.08421.76349.71294.72227.90

Notes:

1. EBITDA is defined as earnings before net interest expense, tax, depreciation, amortisation, abnormal Items, royalties, share based

payment expense, minority interests and associates.

2. EBITA is defined as earnings before net interest expense, tax, abnormal Items, royalties, share based payment expense, minority

interests and associates.

3. Abnormal items for the years ended 31 March 2018 and 31 March 2017 please refer note 27.

4. Net Profit (NPAT) is net profit after tax, abnormal Items and minorities but before dividends.

5. Pro-forma Cash Flow is defined as NPAT before amortisation of goodwill, depreciation, minorities and associates excluding share

based payments and abnormal Items after tax.

6. Net Tangible Assets includes Software and Deferred Tax Assets and Liabilities.

7. Net Debt is long-term plus short-term debt less cash balances.

8. Equity Ratio is Net Tangible Assets as a percentage of Total Assets.

9. Return on NTA is NPAT as a percentage of Net Tangible Assets.

10. Net Interest Cover is Profit before abnormal Items, interest and tax divided by net interest cost.

11. Per Share calculations are based on the average issued capital in each year – 100,698,548 shares in 2018.

12. Adjusted Earnings per Share figures are based on Net Profit with tax affected abnormal Items added back.

MAINFREIGHT’S TRADITION OF DELIVERING A BUCKET
OF APPLES TO OUR TEAM MEMBERS AND FAMILY OF

SUPPORTERS HAS ITS ORIGINS MANY YEARS AGO.

Our founder, Bruce Plested, was struck by the special

relationship forged between a local doctor, who generously

cared for poor patients free of charge, but was remembered

and rewarded by them with freshly-caught fish when available.

A subsequent visit to his cousin's Hawke’s Bay orchard

gave Bruce the source of his own gift in kind, and

Mainfreight’s apple tradition was born.

We take this opportunity to thank you all.

OUR TEAM OF PEOPLE AROUND

THE WORLD, OUR SHAREHOLDERS,


customers, suppliers and family

of supporters everywhere, matter.

THANK YOU matters

131

GLOSSARY of Terms
132

AIR & OCEANDistinguishes Mainfreight’s traditional international freight from that moved by

land across borders in Europe and the Americas

B2BBusiness-to-business transactions

B2CBusiness-to-consumer transactions

C&FCost and Freight; a term utilised by importers and exporters determining the

buying and selling criteria (also known as CFR, CNF)

EBITDAEarnings before net interest expense, tax, depreciation, amortisation, abnormal

items, royalties, share based payment expense, minority interest and associates

FCLFull Container Load

FEUForty Foot Equivalent Unit (Container)

FMCGFast Moving Consumer Goods; everyday products that sell quickly

FOBFree On Board; a term utilised by importers and exporters determining the

buying and selling criteria

FTLFull Truck Load

GEARING RATIONet debt to net debt and equity

I ATAInternational Air Transport Association

INTER CITYThe freight transport between cities

INTRA CITY/METROThe freight transport within a city known as metropolitan cartage or “metro”

IRAInventory Record Accuracy; Mainfreight’s level of IRA measures location count,

inventory condition, systems alignment to inventory count, product integrity,

total inventory count

LCLLess than Container Load

LINEHAULThe method and mode used to transport goods between cities and countries

LT LLess than Truck Load

NPATNet Profit After Tax

NVOCCNon Vessel Operating Common Carrier

NZXNZX Limited (Mainfreight is listed on the NZX Main Board)

RETAIL FREIGHTThe industry segment that Mainfreight operates in

SUPPLY CHAIN

LOGISTICS

The physical movement and management of supplies and finished product from

source to end user

TEUTwenty Foot Equivalent Unit (sea freight container)

WHARF CARTAGEThe transport of full containers on and off the wharf

WHOLESALE SEA

FREIGHT

The industry segment that CaroTrans operates in supplying services to other

freight forwarders

133
Board of Directors

Bruce G. Plested, Chairman

Donald R. Braid, Group Managing Director

Carl G. O. Howard-Smith, LLB

The Hon. Richard W. Prebble, BA, LLB

(Hons), CBE

Bryan W. Mogridge, BSc, ONZM, FNZID

Simon R. Cotter, BCom, MAppFin, F Fin

Catherine L. Parsons, BCom, CA

Suzanne M. Tindal, FCPA (Aust)

Registered & Administration Office

Mainfreight New Zealand

2 Railway Lane*, Otahuhu

Auckland 1062

PO Box 14038, Panmure

Auckland 1741

Tel +64 9 259 5500

www.mainfreight.com

* “Mainfreight Lane”

if the Council were kind enough

Overseas Offices

Mainfreight Australia

107 Gateway Boulevard

Epping, Victoria 3076

Australia

Tel +61 3 9267 7300

Mainfreight Americas

1400 Glenn Curtiss Street

Carson, CA 90746

United States of America

Mainfreight Asia

Units 7-10, 8/F, Tower 1, Millennium City 1

No 388 Kwun Tong Road

Kwun Tong, Kowloon

Hong Kong

Mainfreight Europe

Industriestraat 10/12

‘s-Heerenberg, NL- 7040 Amsterdam

Netherlands

Auditors

EY

EY Building

2 Takutai Square, Britomart

PO Box 2146

Auckland 1140

Lawyers

Howard-Smith & Co

Level 7, 36 Kitchener Street

PO Box 7066

Auckland 1141

Bell Gully

Barristers & Solicitors

Vero Centre

48 Shortland Street

PO Box 4199

Auckland 1140

Bankers

Westpac Banking Corporation

16 Takutai Square

Britomart

PO Box 934

Auckland 1140

Commonwealth Bank

ASB North Wharf, 12 Jellicoe Street

PO Box 35

Auckland 1140

HSBC Bank

One Queen Street

PO Box 5947

Auckland 1141

Bank of Tokyo-Mitsubishi UFJ

Lv 22, 151 Queen Street

PO Box 105160

Auckland 1143

ING Belgium

Avenue Marnix 24

B-1000 Brussels

Belgium

Investment Advisors

Grant Samuel and Associates Ltd

Vero Centre

48 Shortland Street

PO Box 4306

Auckland 1140

Share Registrar

Computershare Investor Services Limited

Private Bag 92119

Auckland 1142

Level 2, 159 Hurstmere Road

Takapuna, Auckland 0622

New Zealand

Managing Your Shareholding Online:

To change your address, update your

payment instructions, elect communication

preferences, and to view your investment

portfolio including transactions, please visit:

www.investorcentre.com/nz and log in.

You will need your CSN or Holder Number

and FIN to initially register on Investor

Centre, or your User ID and password if

previously registered.

General enquiries can be directed to;

>enquiry@computershare.co.nz

>Private Bag 92119, Auckland 1142

>Telephone +64 9 488 8777

>Facsimile +64 9 488 8787

Annual Report by

Ripe Creative

www.ripecreative.co.nz

Photography by

Alistair Guthrie, Snapper Limited

www.alistairguthrie.com

Additional Information

Please visit our website to learn more

about us, and for investor information:

www.mainfreight.com


For career opportunities visit:

www.mainfreightcareers.com


Please visit our website if you wish to obtain

an electronic version of this annual report.

DIRECTORY

The Mainfreight annual report is printed on environmentally responsible papers, manufactured using Elemental Chlorine Free pulp from Well Managed

Forests. It is produced under the environmental management system ISO 14001, which aims to prevent pollution and achieve continual improvement.

Printed with vegetable based, mineral oil free inks.

Follow us here:

 Facebook:

https://www.facebook.com/Mainfreight


 Twitter:

https://twitter.com/MainfreightLtd

JEEZ BRUCE,
she's a big job!

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