Annual Results: Christchurch City Holdings Limited

Despite significant disruptions caused by the ongoing impacts of COVID, the Christchurch City Holdings Limited (CCHL) Group lifted its annual earnings the organisation announced today, returning a $16 million dividend to the Christchurch City Council and growing the balance sheet of the Group by $383 million.

CCHL Group revenue for the 2022 Financial Year was $1.056 billion, with net profit after tax of $121 million, including unrealised gains (including revaluations of investment property) of $59 million. CCHL’s Group revenue was $1.024 billion in 2021 with a net profit of $92 million.

The CCHL Group includes the city’s major infrastructure companies, Christchurch Airport, Lyttelton Port Company (LPC), Orion Group, Enable, EcoCentral and Citycare Group. The Group’s total assets increased to $5.3 billion in 2022 from $4.8 billion in 2021.

CCHL Acting Chair Alex Skinner said the Group has made significant progress despite facing COVID disruptions and a range of new issues in the post-COVID environment, such as a constrained labour market and rapidly rising inflation.

“As highlighted in the report, the diversity of our portfolio, our historically prudent, intergenerational approach and our focus on balancing the needs of our stakeholders has underscored the strength of the Group,” says Alex Skinner.

“We have also been looking towards the future, to lay the groundwork for potentially transformative opportunities for our community, economy and region.”

For further information, please see the attached announcement. To download the full CCHL Annual Report 2022, please visit: https://www.cchl.co.nz/annual-reports

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