Announcement

FLLYR: CCH: CCHL ANNOUNCE FULL YEAR RESULTS 12:09pm 
CCH
25/09/2020 12:09
FLLYR
PRICE SENSITIVE
REL: 1209 HRS Christchurch City Holdings Limited

FLLYR: CCH: CCHL ANNOUNCE FULL YEAR RESULTS

CHRISTCHURCH CITY HOLDINGS LIMITED ANNOUNCE FULL YEAR RESULTS

o Total Group operating revenue $1,031m (FY19: $1,076m)
o LPC asset revaluation has significant impact on 2020 result
o Diverse infrastructure assets help balance COVID-19 challenges

Christchurch City Holdings Limited (CCHL) has announced a consolidated Group
loss of $(53) million for the 2020 financial year, after taking into account
the significant impact of an asset revaluation by subsidiary Lyttelton Port
Company (LPC) and the effects of COVID-19 across the Group.

The CCHL Group comprises the parent company (CCHL) and a diverse range of
infrastructure assets, including Orion New Zealand Limited, Christchurch
International Airport Limited, Lyttelton Port Company Limited, Enable
Services Limited, City Care Limited, Red Bus Limited and Development
Christchurch Limited. Operating across a number of sectors enabled the Group
to balance the overall effects of COVID-19 on the operations and earnings of
the Group.

Whilst total operating revenue for the group was down to $1,031m in FY20,
compared to $1,076m FY19 - some of which was as a direct impact of COVID-19,
the overall net Group loss has mostly been impacted by a revaluation of the
net assets of the Lyttelton Port Company Ltd. The impact is a fair-value
negative adjustment of $157.8m post-tax to the Group's financial profit.

Please refer to the attached Full Year results announcement for further
commentary on the year-end Group result. Please note this announcement is
based on unaudited financial statements, which are in the process of being
audited by Audit New Zealand.

The CCHL Group Annual report will be released to the market prior to Friday
30th October in line with our previous announcement following the reliance of
the NZX Class waiver relating to Listing Rule 3.6.1.

The announcement reports on results for the year-ended 30 June 2020.
For further information please contact:
Leah Scales
Chief Financial Officer
Christchurch City Holdings Ltd
Phone +64 3 9418817
Mobile +64 21309489
leah.scales@cchl.co.nz
End CA:00360428 For:CCH Type:FLLYR Time:2020-09-25 12:09:52

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