DCHL chairman Keith Cooper said the year to June produced mixed results across the group, similar to the year before, and its major trading companies recorded profits.
The group recorded a $3.3 million profit in its annual report.
"That’s a solid result in what continues to be a challenging economic climate for our companies," Mr Cooper said.
"Obviously, we’re still seeing inflationary pressures at home, and a slowing Chinese economy contributing to increased volatility in key Asian export log markets, not to mention the tail end of Covid-19’s impact, so these are pleasing performances by most of our companies."
A dividend of $5.5m was paid to the Dunedin City Council, as well as $5.9m in interest.
DCHL is the parent company of seven companies owned by the council and it has a 50% share in Dunedin International Airport.
The airport had a year the annual report called defining.
It welcomed more than 920,000 passengers through the year — 86% of the company’s pre-Covid peak.
This brought a surplus of $4.3m, which was significantly ahead of the projected year-end position.
Dunedin Venues had a small profit from an operation still affected by the tail end of the pandemic.
Highlights at Forsyth Barr Stadium included concerts by the Red Hot Chili Peppers, Rod Stewart and Six60, and a full season of rugby matches for the Highlanders and Otago.
"Given the disruption to major events caused by Covid-19, and the time it takes to rebuild from that, it’s a good result for our city," Mr Cooper said.
It was estimated major stadium events contributed $32.5m of direct additional spend to Dunedin.
Aurora had a net profit after tax of $11.1m, compared with a forecast profit of $9.9m.
Capital expenditure of almost $100m was directed to new network assets in Dunedin, Central Otago, Wānaka and Queenstown-Lakes.
City Forests had a "modest" financial performance, but still a $5.5m surplus.
Delta produced a profit just above $2.5m.
Dunedin Railways had a loss of $978,000, which followed a $1.6m loss the previous year.
It has yet to be established what the operation model for Dunedin rail will be in the years ahead.
Mr Cooper said the underlying outlook for DCHL’s major trading companies and the group as a whole was broadly positive.
"We are working hard not just to lift the performance of our companies, but to ensure they’re performing for all our residents."
The year in numbers
— $1.83 billion total assets
— $320 million total operating revenue
— $104.4m capital invested
— $5.9m paid to Dunedin City Council in interest on shareholders’ advance
— 1,090,700 trees planted by City Forests
— 16,493 passengers on Dunedin Railways services
— 235,493 attendees at 384 events hosted by Dunedin Venues Management Ltd
— 920,000 passengers through Dunedin airport
Source: Dunedin City Holdings Ltd
