NPH Withdraws Earnings Guidance

NZX AND MEDIA RELEASE
24 March 2020
NAPIER PORT WITHDRAWS EARNINGS GUIDANCE
Following the Government’s announcement that it is moving its Covid-19 Alert to Level 4, Napier Port
(NZX.NPH) announces it is withdrawing its earnings guidance for the year to 30 September 2020.
While Napier Port is classified as an essential service
1
and therefore can continue operating under the
Level 4 alert, many exporters and importers that direct cargo through Napier Port are classified as
non-essential services. In accordance with the Government’s virus containment measures, these
businesses are expected to cease operations for the duration of the Level 4 alert, which is now
expected to last at least 4 weeks.
As a direct result of recent trading conditions and these new developments Napier Port now expects
to see reduced levels of logs, pulp and timber forest products. Based on the Government’s
announcement, food and beverage cargos, notably meat, pipfruit and fresh produce, are not expected
to be materially affected by the containment measures, providing cargo owners remain able to
maintain their normal operations. We continue to engage with our customers to understand the
possible impacts of the current conditions.
Napier Port now expects the cargo flows through Napier Port to be lower than those assumed in its
financial forecasts with a material impact on its financial outlook for the 2020 financial year. However,
at present Napier Port is not able to quantify the extent of that impact.
Meanwhile, as the contractors now working on the development of the new 6 Wharf are not classified
as essential service providers, Napier Port expects work to be suspended on the wharf until the Covid-
19 Alert is reduced to a lower level.
Napier Port Chief Executive Todd Dawson said: “We welcome the containment measures as the right
step to combat the spread of Covid-19. We are committed to working with the Government and local
health authorities to protect our people and the broader community from the virus.
“Meanwhile as an essential service provider in Hawke’s Bay, we are also focused on ensuring we play
our role in minimising the impact of the pandemic on the region and the wider economy by ensuring
the free flow of essential cargo across our wharves.
“Napier Port is well capitalised with a strong balance sheet and access to liquidity, with cash and cash
equivalents of approximately $14 million and $180 million in undrawn debt facilities, the majority of
which mature in late 2024.
2
“We continue to monitor the Covid-19 outbreak and the impact on our business. We will update the
market as further information comes to hand,” Mr Dawson said.
1
https://covid19.govt.nz/assets/essential-services-list.pdf
2
A $60 million facility matures in July 2023, while the remainder matures in September 2024

Napier Port is committed to keeping the market informed, and expects to provide further information
to the market when announcing trade data for its half-year to 31 March 2020 during April and its half-
year financial results in late May.
ENDS
For more information:
InvestorsMedia
Kristen Lie Richard Inder
Chief Financial OfficerThe Project
DDI +64 6 833 4405DD: 021 645643
E:kristenl@napierport.co.nz E: richard@theproject.co.nz
About Napier Port
Napier Port is New Zealand’s fourth largest port by container volume. We are the main gateway for
Hawke’s Bay exports and operate a long-term regional infrastructure asset that supports the regional
economy. Our strategic purpose is to collaborate with the people and organisations that have a stake
in helping our region grow. View Napier Port’s investor centre: www.napierport.co.nz/investor-
centre/