Eden Park posts higher 2025 operating profit but warns of weaker financial year ahead

Eden Park chief executive Nick Sautner said the result reflected the delivery of a diverse range of calendar events.

“This has been a very positive year for Eden Park, both financially and in terms of the breadth and quality of events we delivered,” Sautner said.

“Major international concerts, a full calendar of sporting fixtures together with the ongoing support of our partners and members contributed to the outcome, supported by careful cost management.”

Coldplay was one of the highlight acts for the reporting period, the November 2024 event selling out three concerts with more than 160,000 fans.

Two sold-out Luke Combs concerts in January 2025 were another standout, marking the first time a country music artist had headlined at Eden Park.

The big events from January 16-19 last year, including SailGP and Combs’ two concerts at Eden Park, contributed to more than $5m in additional room revenue for Auckland’s hotels.

The stadium also hosted several sporting matches featuring the Black Caps, the All Blacks, the Blues and a special one-off rugby international between Manu Samoa and Scotland.

Across all of the park’s main events, the stadium recorded a total attendance of 568,900.

Eden Park Trust chairwoman Kereyn Smith and Sautner said in the company’s annual report that the financial performance of the stadium continued to be closely linked to major events.

“These major revenue drivers enable our ability to also host niche events and activities, which fill our non-event-day calendar. We continue to host a range of these activities, which provide additional revenue for the trust,” Smith and Sautner said.

Those niche events and activities included function business, the Staydium Glamping domes, stadium tours, Art in the Park, the Home and Garden Show and Edi AL Fitr.

However, Smith and Sautner said the financial outlook for the 2026 financial year is not as strong as 2025.

Concert content is soft over the next 12 months, but Eden Park hosted the Jehovah’s Witness Congress in January, with more than 20,000 people attending over each of the three days, and filling about 17,000 room nights.

The Edinburgh Tattoo are set to perform at the end of February.

But with fewer major events expected over the year, Eden Park chief finance officer Brett Winstanley has previously projected profit for 2026 of $145,000.

Its financial report included a statement on its ability to continue as a going concern.

“Significant losses have been reported for both reporting periods. The trust does not currently generate sufficient operating surpluses to cover its ongoing depreciation charges.

“However, the going concern assumption has been adopted in the preparation of these financial statements, on the basis that current projections of profit and loss and cash flows indicate that the trust can meet all its commitments as they fall due for the foreseeable future.”

The financial statements note that the trust maintains a close relationship with Auckland Council under the terms of its funding loan.

“The funding facility’s loan covenant has been met throughout the term of the agreement to date. To ensure council is well informed of the trust’s financial position and strategic direction, the trust submits financial reports to council quarterly and reports to council’s governing body in person six-monthly, to report on and discuss its current and forecast financial position and other relevant operational and strategic matters.”

Planning for the stadium’s upgrade, Eden Park 2.1, is ongoing and remains a priority for the stadium’s trust.

The Eden Park Trust advanced key strategic milestones for the project, including progressing plans for the staged redevelopment, with a focus on planning, assessment and engagement to ensure the stadium is well-positioned into the future.

Sautner said the project would be progressed in a financially and environmentally sustainable way.

“Building on the progress made this year, our focus is on continuing to deliver for performers, players, fans, partners and the community, while carefully planning for the long-term evolution of New Zealand’s national stadium,” Sautner added.

“That progress would not be possible without the commitment of our Board, management team, staff, contractors, commercial partners, sporting bodies, event promoters and the surrounding community, whose support and collaboration continue to underpin Eden Park’s success.”

The trust is also continuing to support the Government and Auckland Council’s review into the number of major events the stadium can host within a calendar year.

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.