Highlights

  • Channel reported first-half 2026 Revenue of NZD 72.9 million, up 4% year on year.
  • The company lifted full-year EBITDA guidance to NZD 103–108 million.
  • An additional 123 million litres of jet and diesel storage entered service at Marsden Point.
  • The Interim Dividend increased 16% to 7.25 New Zealand cents per share.

Channel Infrastructure NZ Limited (ASX:CHI) reported stronger first-half 2026 revenue as contracted infrastructure projects expanded the operating base of its Marsden Point fuel Import terminal. Revenue for the six months ended 30 June rose 4% to NZD 72.9 million, while EBITDA reached NZD 48.8 million.

A Terminal Business Delivers Higher Half-Year Revenue

The company operates New Zealand’s largest fuel import terminal business. Its Earnings are tied to infrastructure services and storage capacity rather than Crude Oil refining, which makes terminal availability, contractual activity and Capital spending important measures of operating performance.

Storage Expansion Adds Capacity

During the period, 123 million litres of additional jet fuel and diesel storage entered service at Marsden Point. Channel said this lifted in-service storage by approximately 40%. The 93 million-litre New Zealand Government diesel storage project was delivered on schedule and on budget.

The operational infrastructure performed with pipeline and tank availability of 99%, according to the company’s August results release. The expansion adds commissioned storage Assets to the terminal’s service offering and establishes a basis for additional contracted earnings contributions.

Guidance and Dividend Reflect the Half-Year

Channel increased its FY2026 EBITDA guidance to NZD 103 million–108 million, from the guidance range of NZD 97 million–105 million set in May. Normalised free Cash Flow from operations was NZD 33.6 million, compared with NZD 35.2 million a year earlier, reflecting the timing of maintenance capital expenditure.

The company increased its interim dividend by 16% to 7.25 New Zealand cents per share, compared with 6.25 cents in the prior corresponding half. Maintenance Capital Expenditure was expected to remain within 8%–10% of FY2026 revenue.

Outlook: Contracted Projects Support the Next Year

Channel expects FY2027 earnings to benefit from full-year contributions from recently completed growth projects. It also continues enabling work associated with a proposed Marsden Point biorefinery, while indicating the project’s final Investment decision may extend into 2027.

The scheduled November operational update will provide a further chance to assess storage operations and programme delivery. It was not yet published as of the article date, and should not be treated as an achieved result.

Channel Infrastructure NZ shares were quoted at AUD 2.80 on 6 November 2026, with a reported daily change of 0.00%. No shares traded during the session. The reported Market Capitalisation was approximately AUD 1.17 billion.