The DCHL - the investment holding company for Dunedin City Council's (DCC) group of eight companies - distributed $5.9 million to the DCC in interest payments.
DCHL's star performer was again City Forest Ltd, which published profits of $25.2 million and a higher than expected dividend of $8 million, on the strength of increasing log market prices and a lower dollar exchange rate.
DCHL chairman Keith Cooper described the results as "modest" and said Aurora's performance had reflected the investment demands of its major infrastructural renewal programme across the greater Otago and Lakes district networks.
Last year the network company spent $62 million (2018: $78.4 million) on new network assets, which saw assets increase to $580.4 million - while term borrowing increased by $46.8 million to $301.4 million.
Overall DCHL operating company borrowings were at $384 million, which compares with the book value of DCHL assets at $1.35 billion.
Aurora had also made provision for financial penalties of $5 million from the Commerce Commission related to "breaches of network reliability standards" across the past four years.
Mr Cooper said that while the actual penalty was yet to be determined, the provision made at balance date remains a "prudent estimate" of the likely outcome.
Contracting business Delta - whose main client is Aurora - recorded a profit after tax of $1.9 million from revenues of $97.3 million, 4.9% up on 2018 revenue.
Dunedin Venues Management, which manages Forsyth Barr Stadium, reported profits of $160,000 despite having a a busy year across a number of high profile concerts - including Kendrick Lamar, Pink, Shania Twain and the Eagles.
"The return should be seen against the backdrop of the high cost of bringing events to Dunedin, and the overall economic benefit of $39 million to the city," Mr Cooper said.
Dunedin Railways Ltd also had a challenging year, recording a loss of $122,000, due to increasing spend on repairs and maintenance to ageing equipment and assets.
Mr Cooper said the railway company - which operates the Taieri Gorge, Seasider and Silver Fern railcars - would be presenting a four point "sustainability plan" over the next several months, focused on increasing profitability and "filling up trains".
"While it's not without its challenges, it is an important and iconic part of the the Dunedin scene."
The Dunedin Airport enjoyed a busy year, with passenger numbers up 4.5% to almost 1.1 million, generating revenue of $17.2 million and profits of $3.6 million. It will pay a dividend of $1.4 million.
