Fuseworks Media

Port Marlborough 2024 half-year report : EBITDA increased by 9%

Port Marlborough has shown resilience in the first half of FY 2024, with the focus for the port remaining on driving success for Marlborough, through their strategy of People, Planet, and Prosperity through Partnerships.

The port’s focus on safety has included work with the RMTU on fatigue management and a deep dive into critical risks. There were zero lost time injuries for the period.

Recruitment efforts brought in additional expertise to the team to align the management structure to strategy, as well as extending opportunities for cadets and apprentices.

The port’s environmental team began work on establishing a native forest in the port’s Shakespeare Bay land holdings and bolstered the environmental skillset of the team with the employment of a new Environmental Manager.

A highlight to end the reporting period was the kawenata signed with manawhenua iwi of Waitohi Picton and Waikawa, Te Ātiawa o te Waka a Maui, demonstrating the port’s commitment to being a good iwi partner. The kawenata focuses on collaboration – and finds ways to coordinate efforts for projects of mutual importance, such as environmental initiatives, and in opportunities to co-host manuhiri (guests).

Despite the disappointment around the iReX project discontinuation, key deliveries over the reporting period included launching the Waitohi Container Yard and the official opening of Waikawa North West marina, with both supporting Marlborough’s economy and responding to market needs. EBITDA for the period is 9% up on the previous comparative period (HY2022), at $9.5m.

Despite economic challenges, the port’s diverse business portfolio has led to a strong result, showcasing effective strategy and operations. The outlook for the remainder of the year is positive.

CEO Rhys Welbourn said: “We express our gratitude to our community, customers, and partners for their support during this period. A special thanks to our port team, whose efforts were essential in achieving these results.”

The Port Marlborough Half Year Report is available online here: LINK