The result was included in the 2025 annual report for Dunedin City Holdings Limited (DCHL).
It said the past financial year had been ‘‘one of solid achievement’’ across DVML’s venues, and a diverse range of events had made meaningful contributions to the city’s economic and social landscape.
It recorded a total of 207,409 attendees across 274 events hosted by DVML – compared to 312,013 across 288 events in the last financial year.
‘‘The major event environment remains extremely challenging and competitive,’’ the report said.
‘‘Dunedin Venues is actively engaging with promoters to bring exciting content to Dunedin.’’
DCHL chairman Tim Loan said the results of the annual report had raised ‘‘no new concerns at all’’ about Dunedin’s ability to attract major events.
‘‘All it does is just reinforce what we’ve been saying and backs up the strategy we’re undertaking with Dunedin Venues to really work towards getting more of those events into the city – which we’re very focused on, and targeting some major events as well.’’
There were more events in the previous financial year, which translated into more people at Forsyth Barr Stadium, he said.
DCHL is an organisation that oversees the finances and sustainability of eight companies it owns on behalf of the Dunedin City Council.
The report said a key highlight of the past financial year was the sell-out All Blacks versus England test match at Forsyth Barr Stadium.
That event generated $13.7 million in direct additional spend for Dunedin.
‘‘With 69% of attendees travelling from outside the city, this match demonstrated the continued appeal Forsyth Barr Stadium’s facilities hold for visitors nationwide.’’
The White Ferns hosting Sri Lanka and the Black Caps hosting Pakistan at the University of Otago Oval added to DVML’s diverse sporting portfolio and reinforced Dunedin’s reputation ‘‘as a premier destination for international competition’’, the report said.
The DCHL group reported a net profit after tax of $19.4m – an increase of $6.6m (51%) from the previous year and the organisation’s third consecutive increase in annual profit.
It also distributed $16.9m to the council and invested a total of $92.8m in infrastructure and other assets.
Mr Loan said the result was ‘‘an encouraging place to be in and a fairly robust result’’.
Aurora Energy, the group’s most profitable subsidiary, delivered a net profit after tax of $24.3m – $1.3m above target for the year, the report said.
The company also invested $96.3m in network capital expenditure, matching the year-end target.
City Forests’ net profit after tax rose to $9.7m from the previous year’s $5.1m, but trading results were affected by weak Asian log export markets in Korea and China.
Despite softened domestic demand and challenging market conditions, the airport reported a 13.5% increase in operating revenue.
Net profit after tax also increased to $4.6m.
‘‘Passenger numbers totalled 854,000, which is 5.5% lower than last year, reflecting softer domestic travel demand and Air New Zealand’s reduced fleet availability due to the global Pratt and Whitney engine challenges.’’
Dunedin Stadium Property made a loss of $6.2m – lower than budgeted – which reflected interest costs and ongoing non-cash depreciation expense on the stadium asset.
A net profit after tax of $2.1m for Delta Utility Services was an improvement on the $1.6m generated last year, but fell short of budget.
Dunedin Railways carried a total of 31,824 passengers, up from 25,002 across the previous year, the report said.
‘‘The reopening of the line to Pukerangi in October 2024 marked a major milestone, restoring a key part of the Taieri Gorge journey for the first time since hibernation.’’
