Tag Archives: Dunedin International Airport Ltd

Local airport, compare #CHC or #ZQN

Dunedin Airport terminal [wikimedia.org] 2Grey skies….

### ODT Online Wed, 6 Jan 2016
‘Long run-up’ to win flights
By David Loughrey
….[Dunedin airport] management continues to try to add transtasman cities to the list of destinations available to passengers. While numbers were down slightly in the 2014-15 year, airport chief executive Richard Roberts said April 2015 was the busiest on record, with just over 78,000 passengers in and out.
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Dunedin International Airport, colloquially known as Momona Airport, is an international airport in the Otago region of the South Island of New Zealand, serving Dunedin city and the Otago and Southland regions. Wikipedia

Airport type: Public
Owner: Dunedin City Council and the New Zealand Government (The Crown)
Operator: Dunedin International Airport Limited
Location: 25 Miller Road, Momona, Dunedin 9073
Elevation AMSL: 1.20 m / 4 ft
Coordinates: 45°55′41″S 170°11′54″E
Code: DUD

█ Website: dunedinairport.co.nz

DCC Webmap - Dunedin International Airport 25 Miller Rd, MomonaDCC Webmap | Dunedin International Airport, 25 Miller Rd, Momona

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### ODT Online Wed, 6 Jan 2016
Migrants flock to the Otago region
By Vaughan Elder
Statistics New Zealand data showed over the two years to November last year there was a net gain of 2812 migrants in Otago. Of the 2812, by far the largest gains were in Queenstown Lakes district (1189) and Dunedin (1156), followed by Waitaki (204), Central Otago (162), and Clutha (101).
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Posted by Elizabeth Kerr

*Image (top): wikimedia.org – Dunedin Airport terminal

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Filed under Business, Democracy, Dunedin, Economics, Geography, Infrastructure, Media, New Zealand, People, Project management, Tourism, Transportation, What stadium

DCHL: Annual Result for the year ended 30 June 2015

### dunedintv.co.nz Thu, 24 Sep 2015
DCHL in strong position
More than $15m has been paid out to the city council and its subsidiaries in the last financial year.
Ch39 Link

39 Dunedin News Published on Sep 24, 2015
DCHL in strong position

Dunedin City Council – Media release
Annual Result for the year ended 30 June 2015

This item was published on 24 Sep 2015

The Board of Dunedin City Holdings Limited (DCHL) is pleased to report the financial result for the DCHL group for the year ending 30 June 2015.

Highlights
● Profit after tax and subvention payments for the group was $12.9m.
● We have distributed to the Dunedin City Council (DCC) and its subsidiaries outside the DCHL group a total of $15.7m consisting of $4.5m in dividends, $5.9m in interest and $5.2m net in subvention payments.
● Cash from operations continues to remain strong at $32.3m. This was after paying the budgeted subvention payments of $7.9m to Dunedin Venues Limited.
Total borrowings across the group have reduced by $23m to $598m.
● The financial result for the year reflects the hard work and focus of the staff and directors of the DCHL group of companies, which is much appreciated.

Profit after tax for the group was $12.9m for the year consistent with last year’s result of $12.5m. The result for the year is a continuation of the solid returns for the group.

Aurora Energy Limited invested significantly in its network during the year, resulting in an overall increase of $23m in its asset base. This is a reflection of work being undertaken by the company in renewal investment on the Dunedin network and investment in the Central Otago network driven by growing consumer demand. Overall capital investment in the network over the next 10 years is expected to be $372m.

Now that Delta Utility Services Limited has fully exited its water and civil construction operations, it was able to have a full year concentrating on its core services. This saw a marked increase in demand and reflected positively on its results. Overall the company returned a surplus after tax of $4.7m.

City Forests Limited continues to consolidate its financial position through reduction in borrowings, an increase in its forestry investment and maintenance of its dividend distribution. The company had a net surplus of $7m after tax.

Taieri Gorge Railway Limited has turned around from a loss last year to record a surplus after tax of $173,000 in the year to 30 June 2015. The positive result is a reflection of an increase in passenger revenue and continued focus on costs within the business.

Dunedin International Airport Limited achieved an operating surplus of $1.7m for the year, consistent with its result of $1.8m for the previous financial year. The company was able to increase its dividend to DCHL in the year from $565,000 in 2013/14 to $640,000 in 2015/16.

A pleasing aspect of the financial performance is the continued drop in borrowings within the group’s balance sheet. Borrowings have decreased from $621 million at June 2014 to $598 million at June 2015. Most of this decrease has come from improved cashflow management within the group assisted by significantly reducing the interest costs for borrowing entities. All of the subsidiaries, other than Aurora Energy Limited, were able to reduce their debt levels during the year. An increase in debt levels by Aurora Energy Limited is expected given their capital investment programme.

Cash from operations continues to remain strong at $33m. The ability of the group to maintain strong operational cash flows is imperative to ensure that it can meet its dividends and capital investment requirements.

DCHL has signalled to the DCC, via its annual Statement of Intent, that its distributions to the Council will decrease from $15.7m to $11.2m over the next three years. With the planned capital investment being undertaken by Aurora, it is prudent that Aurora reduces dividend distributions to DCHL over the next three years to ensure the funds are invested into capital and to maintain an appropriate equity to total assets ratio. This naturally impacts in the distribution that DCHL can make to the Council.

Overall the upcoming 12 months for the group looks favourable. The capital investment by Aurora will provide financial stability for the company, Delta continues to grow its core contracts while maintaining its current contract base and improvements in the tourism market will continue to assist Taieri Gorge Railway. A favourable interest rate environment will assist in the cost of debt for Dunedin City Treasury Limited, and City Forests continues to operate well in the fluctuating forestry environment.

Contact DCHL Chair Graham Crombie on 0274 363 882
DCC Link

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Posted by Elizabeth Kerr

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Filed under Business, DCC, DCHL, DCTL, Delta, DVL, DVML, Economics, Media, New Zealand, OAG, Politics, Project management, Property, SFO, Stadiums

DCC: DCHL/DVL/DVML limited half year result | Term borrowings $586.5M

Dunedin City Council – Media Release
Dunedin City Holdings Limited Half Year Result to 31 December 2014

This item was published on 27 Feb 2015

The Dunedin City Holdings group is reporting an improved profit after tax and higher operating cashflows in its half year result, compared to the same period last year.
For the six months to 31 December 2014, total revenue increased by 9%, to $128.3 million. This was due to strong income growth from across the group.
The profit after tax has increased 17% to $10.1 million from $8.7 million for the same period last year.
Cashflows generated by the operations of the group were $96.4 million which was $4.4 million higher than for the six-month period last year. Capital expenditure for the group was $4.1 million higher than at the same time last year.

Term borrowings (including the term debt due to mature within the next year) have decreased by $25.8 million to $586.5 million. These borrowings include debt held with the Dunedin City Holdings (DCHL) group, DCC operations and the Forsyth Barr Stadium companies as they all flow through Dunedin City Treasury Limited, a DCHL group company.

Graham Crombie DCHL 2DCHL Chairman Graham Crombie says, “The first six month of this financial year have produced a pleasing result for the group. Cashflow within the group is strong, the profit is higher and debt has reduced. This is a good outcome for shareholders, the ratepayers of Dunedin.”

Aurora Energy Ltd has had a good start to the financial year, being ahead in revenue and with a higher profit than last year. This is helped by higher demand at present in Central Otago due to additional irrigation activity.
Delta Utility Services Ltd profit is slightly down on last year, but revenue has continued to grow. Last year’s results were influenced by the discontinuation of some activities within the group.
Dunedin International Airport Ltd profit was up compared to last year. Changes in capacity at the Airport continue to be a challenge for the company.
Taieri Gorge Railway Ltd is performing better than at the same time last year. The tourism market has picked up. Some of this has been due to the timing of the cruise ship session being earlier this year than last.
City Forests Ltd profit for the first six month period has reduced. Log prices have fallen from the highs last year. The drop in the New Zealand dollar has assisted the company recently.

Dunedin Venues Ltd and Dunedin Venues Management Ltd do not form part of the DCHL reporting group. Their results, however, have also been released for the six month period.

Dunedin Venues Ltd trading was very close to its result for the same period last year. For Dunedin Venues Management Ltd, revenue was on budget for the first six months ($3.9 million) which was slightly down on same time last year ($4.1 million). The loss for the first six months was $1 million. The company expects to makes its budget for the full year.

█ The half year reports can be found at http://www.dunedin.govt.nz/dchl

Contact Chairman, Dunedin City Holdings Limited on 03 477 4000.
DCC Link

Posted by Elizabeth Kerr

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Filed under Business, DCC, DCHL, Delta, DVL, DVML, Economics, Name, New Zealand, People, Politics, Project management, Property, What stadium

McLauchlan replies! #handsalloverit #UoOteamofthree

ODT 1.7.14 Letter to the editor (page 8)
ODT 1.7.14 Letter to editor Dickie p8

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### ODT Online Fri, 20 Jun 2014
Dunedin is ‘the laughing stock of the country’
By Vaughan Elder
Dunedin is a “laughing stock” over a proposal to launch an independent airline, Dunedin International Airport Ltd chairman Stuart McLauchlan says. Otago Air had no chance of getting off the ground, he said.
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### ODT Online Fri, 20 Jun 2014
City’s mentality praised
By David Loughrey
The Dunedin City Council and the Otago Regional Council should get together to underwrite air services to Dunedin, an aviation expert says. Former University of Otago air transport research director Dr David Duval said Otago Air was a great Dunedin idea, but not one anybody should go ahead with.
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[steering/connected/influential ??]

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Posted by Elizabeth Kerr

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Filed under Business, Economics, Highlanders, Hot air, Media, Name, New Zealand, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, Tourism, University of Otago, What stadium

DCC self-examinations…

### ODT Online Wed, 17 Aug 2011
Project Gateway on hold
By David Loughrey
Project Gateway – an initiative that has cost the Dunedin City Council $3.5 million over the last decade – will be put on hold and “reviewed” after results that have fallen well short of initial goals.

Despite early hopes of attracting 60,000 visitors a year, creating 555 jobs and opening up a market worth $21 million, council economic development unit manager Peter Harris said it had instead sparked sales of about $4.6 million, and helped create “around 34 jobs”.

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Posted by Elizabeth Kerr

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Filed under Economics, Geography, Politics, Project management