KiwiRail releases annual results

29 August 2014 12:12PM

This morning KiwiRail announced our results for the 2014 Financial Year.

 The key highlights are:

  • Revenue held at close to 2013 level of $724M

  • Our profit declined by 28% to $77.5M. This was due to the significant costs of the Aratere outage, asbestos contamination in some DL locomotives and reduced revenue from our commodity based customers particularly during the period April to June this year.

  • Between 2013 and 2014 rail freight revenue was steady, the bulk business segment declined by almost 5%; a 2% decline in import export freight was offset by a rise of over 6% in the domestic freight segment.

  • Our Interislander passenger revenue was down over 9% because of the Aratere outage during the peak summer season, although there was an increase in commercial vehicle freight revenue of nearly 2%.

  • Passenger revenue was up by 71% as a result of good performance in both Scenic and Tranz Metro.

  • A 45% reduction in total injuries.

More detailed information can be found in the below documents:

FY14 Annual Results Announcement

Annual Results breifing