Ravensdown Ravensdown Ravensdown Ravensdown Ravensdown

Helping farmers to help the nation bounce back

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Overview

Value for our stakeholders takes many forms. This integrated report details our 2019-20 performance on the things that matter and looks ahead to how we are positioned to deliver value into the future.

Read the Chair's and CEO's Report

Key Highlights

A strong financial result comes from resolute support from shareholders and a remarkable effort by staff. Essential fertiliser supply continues ever-more efficiently, we’re returning $68m to shareholders while offering environmental mitigation and nutrient management services.

$68m

returned to shareholders

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$25 per tonne rebate for those buying between 1 June 2019 and 31 May 2020 plus bonus share issue representing $40m in value for those purchasing in prior three years.

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$69m

profit

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From continuing operations and before tax, rebate and bonus shares.

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$28m

invested in physical infrastructure

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New stores, roofs, loaders and machinery.

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17,494

hours of environmental consultancy

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A smaller team delivered 29% more environmental consultancy hours to farmers.

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3,936

HawkEye Users

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3,936 active users of HawkEye decision-making software

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32,000

calls

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While working remotely, the Customer Centre took 30% more calls with no service disruption.

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74%

equity

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74% equity ratio after rebate $143m cashflow and no net debt.

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5m

R+D funding

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$5m on R&D funding ($23m in total across last five years)

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40

Net Promoter Score

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Net Promoter Score increased: customers were much more likely to recommend Ravensdown.

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14,905

tCO2-e emissions of carbon dioxide equivalent

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Scope 1 and 2: 2030 target is 15% reduction from CY 2017-18.

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Business Model

Ravensdown is here to enable smarter farming for a better New Zealand.

We are the farm nutrient and environmental experts - helping farmers and growers reduce their environmental impacts and achieve production efficiency. This is how we build value.

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Resources

Human Capital

Human Capital

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  • Specialists
  • Competent, skilled and experienced
  • Trained and certified
  • Engaged
  • Co-operative spirit
  • Committed and innovative
  • Resilient culture
  • Leadership
Financial Capital

Financial Capital

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  • Shareholder investments
  • Grants
  • Ministry for Primary Industries
  • Operational revenue
  • Debt
  • Joint ventures
  • Investment in other business
    • Ravensdown Shipping Services
    • Cropmark Seeds
    • Ground spreading ventures
Manufactured Capital

Manufactured Capital

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  • Manufacturing works, loaders, infrastructure
  • Lime quarries and stores network
  • Laboratory equipment
  • Precision blending plant
  • Aircraft, spreading trucks
  • Buildings (offices), land
  • On-farm silos
Intellectual Capital

Intellectual Capital

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  • Patents, Intellectual Property
  • Trademarks
  • Specialist knowledge
  • Innovative technologies
  • Accredited laboratory
  • Innovation and research
  • Supplier intellectual capital
Social and Relationship Capital

Social and Relationship Capital

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  • Enduring relationships
  • Strong collaboration and partnerships (agencies, government, suppliers, institutions)
  • Reputation
  • Corporate social responsibility
  • Stakeholder engagement
Natural Capital

Natural Capital

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  • Phosphate rock
  • Energy / Power
  • Water and Air
  • Fuel - Petrol, Diesel and marine oil/diesel
  • Sulphur
  • Lime deposits
  • Minerals
  • Coal
Ravensdown Business Model
Open business model diagram
  • Domestic manufacturing and nationwide storage of essential inputs such as nutrients and aglime.
  • Seek out and secure physically and chemically tested bulk fertilisers from quality suppliers from around the world.
  • Nutrient advice from certified advisors based on the latest science and accurate test results
  • Expanding the knowledge base and team's capabilities for current and future opportunities.
  • Doing what we say we will do.
  • Collaborating with experts and academics to investigate and validate important potential solutions.
  • Smarter tools for smarter working.
  • Increasing precision for better decision making and improved nutrient efficiency.
  • The right amount of the right nutrient in the right place at the right time.

Value Created

Engaged Staff in a Safer Environment

Engaged Staff in a Safer Environment

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Trusted and focused people in a positive and safety oriented culture using smart tools to strive and achieve.

SDG
Reduced Environmental Impacts

Reduced Environmental Impacts

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Solutions that reduce potential nutrient loss to waterways or atmosphere.

SDG
Economic Returns

Economic Returns

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Competitive pricing, rebates and balance sheet growth.

SDG
Reliable Supply of Quality Agri-Products

Reliable Supply of Quality Agri-Products

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Biosecurity-checked, physically assessed and chemically tested products available in bulk when and where needed.

SDG
Optimsed Value from the Land

Optimised Value from the Land

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Whether the land owner and local communities choose pastoral, arable or horticultural, we provide the right nutrients needed to grow any plant.

SDG
Leading Technology, Science and Information

Leading Technology, Science and Information

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Solutions, tools and guidance to help with smarter farming.

SDG
Stronger Communities

Stronger Communities

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Contributing to the economic and social fabric of New Zealand communities.

SDG

To Enable Smarter Farming for a Better New Zealand —

Ka pūkekotia a Rongomātāne, ka poho kererū a Aotearoa

Stakeholder engagement and material issues

In a volatile world impacted by COVID-19, climatic events and emerging government legislation, stakeholder engagement is more vital than ever.

Read the specific 'Stakeholder engagement and material issues' section of our Integrated Report below.

Use the fullscreen icon in the bottom right below to expand this section. Or use the icon in the top left to download this section to your device to read later on.

Risks and opportunities

Disruption to the essential supply of necessary inputs, safety culture and cybersecurity are just some of the risks that need to be mitigated.

Strategic progress

In the year ending 31 May 2020, this resilience showed its value in so many ways and meant that the co-operative could respond when shareholders needed us most and when New Zealand needed the agsector most.

Trusted and Leading

Trust is built by accounting for multiple perspectives and being transparent across a range of measures. We aim to lead by prioritising environmental sustainability and social responsibility.

Quality agri products

Whether it’s fertiliser, lime, seed, agchem or animal health products, farmers and growers need products that are fit for purpose, suitable for New Zealand conditions and available when needed.

Enabled people

Enabling people takes constant focus and a positive, safety-oriented culture. Learning and development have always been prioritised, and staff and contractor wellbeing is increasingly important.

Science

Our research is progressing because the science is always moving forward. Evidence and collaboration can deliver solutions that are having a real impact on farming practice.

Technology and Services

Technology is a key driving force behind agsector improvement. It opens up new opportunities; new ways to track progress, make decisions, demonstrate performance, and make connections with end consumers.

Meet the Board

Deep understanding and knowledge.

This year Stuart Wright and Scott Gower are retiring from the Board after they reached the 12-year maximum term.

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John Henderson, Chair

John runs a 22,000 stock unit sheep and beef breeding and finishing operation, has been on the Board since 2004 and has been Chair since February 2014.

John Henderson

Chair

Stuart Wright, Deputy Chair

Stuart farms 330ha west of Christchurch growing arable crops, seed potatoes and finishing lambs and has been on the Board since 2006 and Deputy Chair since 2014.

Stuart Wright

Deputy Chair

David Biland

Appointed in 2019 David has extensive management and governance experience, including with New Zealand company Argenta and animal health multinational Merial.

David Biland

Appointed

Scott Gower

Scott owns and runs a large hill country sheep and beef station at Ohura in the Central North Island and has been on the Board since 2006.

Scott Gower
Nicola Hyslop

Nicola farms a sheep, beef and arable operation outside of Timaru and has been on the board since 2019.

Nicola Hyslop
Peter Moynihan

Peter owns a 190ha dairy farm located at Northope and has farming interests in Lochiel and Lorneville, and has been on the Board since 2013.

Peter Moynihan
Bruce Wills

Bruce farms in Hawkes Bay and has been on the Board since 2015. Bruce holds a wide range of governance positions, particularly in the science and environmental areas.

Bruce Wills
Jason Dale

Jason is CFO of NZ Steel and a Fellow of Chartered Accountants Australia and New Zealand and has been on the Board since 2014.

Jason Dale

Appointed

Dr Jacqueline Rowarth

Jacqueline is part owner of a high-producing dairy farm in Waikato with associated deer and maize blocks. Elected in 2019, she is also currently a director of DairyNZ.

Dr Jacqueline Rowarth

Meet the Team

Focus on executing strategy.

We are here to deliver on strategic goals agreed with the Board. This involves looking ahead and keeping an eye on the detail of the day-to-day. The safety and wellbeing of our team is paramount and we continue to ensure each and every employee shares this belief so they can act on it.

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Greg Campbell, Chief Executive

Greg started with Ravensdown in 2013 and was formerly Chief Executive of Ngāi Tahu Holdings. Greg has been Managing Director of Waste Management NZ and CEO of Cleanaway Ltd Australia.

Greg Campbell

Chief Executive

Katrina Benedetti Forastieri, General Manager Culture and People

Katrina joined Ravensdown in 2018 with over 20 years' experience in Human Resources and Organisation Development.

Katrina Benedetti Forastieri

General Manager Culture and People

Sean Connolly, Chief Financial Officer

Sean started with Ravensdown in 2004 and has been CFO since 2005.

Sean Connolly

Chief Financial Officer

Stephen Esposito, General Manager Operations

Stephen is a professional engineer and joined Ravensdown in 2018 after 20 years of international experience in operations, risk management and strategy development.

Stephen Esposito

General Manager Operations

Bryan Inch, General Manager Customer Relationships

Bryan started with Ravensdown in early 2014 and was previously CEO of Canterbury Building Society and held senior roles with Rabobank.

Bryan Inch

General Manager Customer Relationships

Mike Manning, General Manager Innovation and Strategy

Mike started with Ravensdown in 1981 and has held a variety of roles in regional management, marketing, sales, supply and R&D.

Mike Manning

General Manager Innovation and Strategy

Mark McAtamney, Chief Information Officer

Mark started with Ravensdown in 2001 and has been CIO since 2005.

Mark McAtamney

Chief Information Officer

Mike Whitty, General Manager Supply Chain

Mike started with Ravensdown in 1997 and has held a variety of roles in finance, sales, marketing, manufacturing and now the supply chain.

Mike Whitty

General Manager Supply Chain

Governance Structure

Ravensdown's governance structure is set up to promote accountability and to support its ability to create value in the short, medium and long term. It provides insight on strategy implementation and direction, while supporting ethical, lawful and responsible behaviour throughout the business.

Governance Structure

Outlook

We’re helping New Zealand’s food creators who are helping the country’s recovery by creating the export dollars that our economy and society so desperately need. We don’t have all the answers and we’ve got some improving to do. We’ll continue to listen in order to learn, focus on the science and take care of each other.