Ravensdown Ravensdown Ravensdown Ravensdown Ravensdown
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Overview

Welcome to our first integrated report. We look at the people, progress and perspectives behind the co-operative's performance in 2018-19. We've had a strong year on many fronts and there's determination to push ourselves further.

Read Greg and John's Report

Key Highlights

$52m

profit before tax and rebate from continuing operations

2017-18   $63m

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Decrease in profit as a result of reduced prices in market and increased costs.

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$30

rebate per tonne

2017-18   $47

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We returned cash back earlier with an interim rebate for the fourth year in a row. Retaining income to fund future investment.

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70%

equity ratio after rebate

2017-18   71%

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The equity ratio after rebate remains in our targeted band. Financial strength helps assure a viable co-operative into the long term.

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8,900

published agronomy plans

2017-18   8,362

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Agronomy Plans summarise the advice about how much of which nutrients to apply as well as any seed and any agrochemical requirements.

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15,799 tCO2-e

Ravensdown carbon footprint scope 1&2

2030 Target 15% reduction across scope 1&2

CY 2017   17,214 tCO2-e

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Our first ever carbon target is consistent with keeping within 2°C warming and we are working towards 1.5°C.

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$5.2m

expenditure supporting R&D

2017-18   $4.7m

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Expenditure in funding research and the development of new initiatives continues to grow.

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$1.1m

spent on targeted training and development

2017-18   $800k

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Improved capabilities and insights as the co-operative evolves – becoming the farm nutrient and environmental experts.

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0.045%

of quality complaints of total orders

2017-18   0.065%

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Received 32% fewer quality complaints than last year by focusing on quality procurement, shipping, manufacturing, storing and spreading.

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6,585

customers who have performed soil tests

2017-18   6,448

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Soil tests are used to understand soil fertility so we can advise farmers about the best combination and location of required nutrients.

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1.96

rolling 12-month lost-time injury frequency rate average

Target 1.48 (Annual Zero harm benchmarking report)

2017-18   1.44

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Number of injuries resulting in time off work increased and this is a key focus for us.

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$27.5m

investment in property, plant and equipment

2017-18   $33.6m

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We continue to invest in our infrastructure to deliver better service, quality and safety outcomes.

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3,209

customers actively use HawkEye / SmartMaps during the year

2017-18   2,682

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The number of customers who are actually using the mapping tool (not just who have their maps loaded) is increasing.

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26

net promoter score

2017-18   19

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The likelihood of customers recommending us to a friend or colleague increased.

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98%

bulk imports are low risk

2017-18   97%

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MPI-approved bulk fertiliser imports system reduces any biosecurity risk.

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The Challenges

Food creation for humans and livestock is vital and has its challenges.

At Ravensdown, our choices and those of our stakeholders can have serious impacts. We asked three leaders in their fields to outline how they see the big picture issues facing a co-operative like ours.

Accounting for our natural capital

Sir Rob Fenwick is inaugural Chair of Aotearoa Circle, Fonterra's Sustainability Advisory Panel and Sustainable Seas National Science Challenge.

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Thriving in an uncertain world

Dr Lucy Hone is a director at the New Zealand Institute of Wellbeing & Resilience and a research associate at Auckland University of Technology.

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An antidote to disruption

Mat Hocken is a Nuffield scholar and Ravensdown shareholder, farming 1,000 dairy cows with his family in Colyton.

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Our Response

We face the complex challenges with optimism and empathy.

Collaboration, innovation and commitment to people are the ways we make a positive difference in the agrisector.

Winning together

Tackling practical new ways to help reduce the environmental impact of nutrients.

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Getting our heads around wellbeing

How resilience and wellbeing are proving so important in helping to get the best from people.

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Good for the land, good for the farm

Services combine to help reduce environmental impact and achieve production goals.

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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.

Reduced Environmental Impacts

Reduced Environmental Impacts

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Solutions that reduce potential nutrient loss to waterways or atmosphere.

Economic Returns

Economic Returns

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Competitive pricing, rebates and balance sheet growth.

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.

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.

Leading Technology, Science and Information

Leading Technology, Science and Information

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Solutions, tools and guidance to help with smarter farming.

Stronger Communities

Stronger Communities

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

To Enable Smarter Farming for a Better New Zealand —

Ka pūkekotia a Rongomātāne, ka poho kererū a Aotearoa

Meet the Board

Deep understanding and knowledge.

This year, the Board has moved to 12-year maximum tenure with three-year terms. It is also moving to a structure of six shareholder-elected directors and three appointed directors. Tony Howey and Glen Inger are retiring from the Board and the recruitment process for the two appointed directors is under way.

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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

Kate Alexander

Kate owns a 245ha dairy farm in Dargaville and has been on the Board since 2014.

Kate Alexander
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
Tony Howey

Through the companies Alpine Fresh Ltd and ViBERi NZ Ltd, Tony grows for the arable, vegetable and berryfruit sectors. He has been on the Board since 2006.

Tony Howey
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
Glen Inger

Glen is an Auckland-based entrepreneur who has been on the Board since 2007. Glen was a founding director of the Warehouse Group and was a board member there for 11 years.

Glen Inger

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