2015 INTERIM RESULTS
Read our latest results
EUROPE AND US ROADSHOW PRESENTATION
Download the presentation
GLOBAL DAIRY UPDATE
Our latest update – August 2015
The Ingredients segment represents the ingredients businesses in New Zealand, Australia and Latin America. This segment also includes the Co-operatives corporate activities and Farm Source (formerly RD1), a rural supplies retailer in New Zealand
Normalised EBIT for the first half of 2015 was $299 million, up two per cent relative to the comparable period. Driven by improved product mix returns in New Zealand as well as increased price premiums. A change in global demand dynamics away from China increased opportunities to sell to Southeast Asia, Middle East and Africa.
CONSUMER & FOODSERVICE
The Consumer and Foodservice segment represents the consumer brands and foodservice businesses in Oceania, Asia, Greater China and Latin America.
Normalised EBIT for the first half of 2015 was $116 million, up 23 per cent relative to the comparable period. We are targeting number one or two segment positions in eight key markets. We have leadership positions in New Zealand, Malaysia, Sri Lanka and Chile. In China, Brazil, Australia and Indonesia we are focused on building scale operations. The strategy focuses on growing our consumer positions and maximising our foodservice potential with a focused portfolio of brands.
International Farming represents the international farming operations in China. These operations cover nine productive farms across two hubs with 24,000 milking cows and 25,000 heifers and calves.
Farming hubs are a key part of our strategy to be a more integrated business in China and we are growing milk production volumes significantly. Future investments may include funding from strategic partners as well as Fonterra, with a continued focus on contributing to the growth and development of the local dairy industry and helping to meet Chinese consumers’ need for safe, nutritious dairy products.
Back to Top