Kelsian wins NZ$101M Auckland ferry contract

• Kelsian and Belaire Ferries were awarded new long-term passenger ferry contracts in Auckland.
• The new contracts secure an estimated total revenue of approximately NZ$101 million over seven years.
• The deal and simultaneous acquisition establish a strategic platform to expand into the New Zealand market.

Kelsian Group (ASX:KLS) secured a passenger ferry contract in New Zealand valued at an estimated NZ$101 million.

The contract marks the company's first transport contract package in the New Zealand market.

"We are delighted to have secured our first contract in New Zealand, reflecting Kelsian’s capability as a leading global multi-modal transport operator," said Kelsian Group CEO Graeme Legh.

As part of the expansion, Kelsian executed a binding agreement to acquire Belaire Ferries for NZ$8.9 million.

Following the announcement, the Kelsian Group share price was unchanged at $5.30.

The services under the new agreement are scheduled to commence on July 1, 2027, over an initial seven-year term.

The company stated that the transaction establishes a strategic platform to pursue further regional growth opportunities.