228,639
passenger movements through the airport (a new record)
One of the Trust’s core purposes outlined in the Trust Deed is to preserve capital to ensure long-term sustainability and provide for beneficiaries into the future.
The Trust Deed outlines its two central objectives — to preserve the capital of the Trust and to provide for beneficiaries (the people of Tairāwhiti).
Since its inception in 1993, the Trust has distributed, invested or delivered $158m to a diverse range of community and economic initiatives and operations.
Trust equity has grown from $20m to $556m ($543m FY2023).
Trust equity since inception
Total assets, liabilities and trust fund
The Trust has grown the trust fund from $20m to $543m as of 31 March 2023 and distributed, invested or delivered $140m to a diverse range of initiatives and operations.
As of 31 March 2023, Trust assets were $919m. Liabilities were $375m.
Capital preservation
One of the Trust’s core purposes is to preserve capital for long-term sustainability and to provide for beneficiaries into the future. We’re required to preserve capital for the residual beneficiary, Gisborne District Council (GDC), when the Trust winds up in 2073.
Eastland Group
Eastland Group makes up the majority of the Trust Group assets and provides the Trust with a dividend stream and capital growth.
2.4m tonnes
of cargo exported via the Port
475.4 GWh
of renewable energy generated 2023/24
$568m
of shareholder value created since 2003
$226m
distributed to Trust Tairāwhiti since 2003
$14.3m distributed 2023/24
12.83%
compound annual growth rate since 2003
Correct as at 31 March 2024
Eastland Group News
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Eastland Port Announces New Board
A new board has been formed for Eastland Port and Gisborne Airport, aimed at unlocking opportunities and enhancing the economic potential of Tairāwhiti. Wendie Harvey and Hamish Bell, both…
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New direction for regional infrastructure operations
Eastland Group and its shareholder Trust Tairāwhiti have jointly announced the group head office will be reshaped and transition to a new operational and governance model as a holding company. Over…
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Eastland Generation announces capital raise to fuel development pipeline
Seeking a growth partner to help fund a strong pipeline of renewable generation opportunities. Alongside its existing partners Ormat Technologies and Ngāti Tūwharetoa Geothermal Assets (NTGA), work…
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Eastland Group and Trust Tairāwhiti announce plan to sell Eastland Network to fund investment in energy transformation and community wellbeing
Eastland Group and sole shareholder Trust Tairāwhiti say right time to unlock value"from the company"s successful growth to transform for the future. li>Review has identified sale of electricity…
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Airport terminal opening
Gisborne's iconic new airport terminal was officially opened on November 4, with several hundred people turning out to celebrate.
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Eastland Group and Trust Tairāwhiti take action on climate change
In July 2019 Eastland Group and Trust Tairāwhiti joined the Climate Leaders Coalition (CLC) and now have in place a means for collecting data to measure their greenhouse gas emissions.
