Zespri

A record crop, ongoing investment in brand-led demand creation, and the industry’s ability to respond and leverage its scale and structure have helped Zespri deliver a record result for the 2021/22 season, with total global fruit sales revenue exceeding NZ$4 billion for the first time.

In spite of the immense challenges faced by the industry this season, Zespri’s 2021/22 Financial Results show total global revenue generated by fruit sales reached NZ$4.03 billion, up 12% on the previous year, with total global operating revenue up by 15% to NZ$4.47 billion. Global sales volumes also increased 11% on the previous year to 201.5 million trays.

The results saw direct returns to the New Zealand industry increase to a record $2.47 billion including loyalty payments, despite the considerable uncertainty generated by the COVID-19 pandemic and cost increases across the supply chain. Earnings were again spread through regional communities including within the Bay of Plenty, Northland, Nelson, Gisborne, and the Waikato.

Zespri’s Non-New Zealand Supply sales increased to $536.9 million while Zespri’s net profit after tax is $361.5 million, a record result and up from the 2020/21 restated profit of $277.1 million, led by an overall strong performance and by the continued demand for Zespri SunGold licence.

Zespri Chairman Bruce Cameron says the results reflect an incredible effort across the industry to continue to operate safely throughout the challenges presented by the pandemic. “This was an extraordinary season where the industry faced some considerable headwinds in market, throughout the supply chain and on orchard, yet collectively we found a way to tackle the challenges and to continue to succeed. Most pleasingly, not only have we delivered strong returns for growers including our second-highest per hectare returns, we’ve strengthened our partnerships across our global supply chain, continued to make positive contributions to our communities and made decisions as an industry to set ourselves up for sustained success.”

Zespri Chief Executive Officer Dan Mathieson says the results reflect the ongoing focus on investment in the Zespri brand, an ability to build demand ahead of supply to create value and the long-term relationships which have helped the industry overcome challenges and continue to move forward. “This is a really pleasing result given how significant the challenges we faced in the 2021/22 season were. These included the pandemic and ongoing supply chain disruption, shifting weather patterns, tightening regulations, changes to fruit flows, increasing competition in the market, labour shortages, late season fruit quality issues, significant cost increases and international trade challenges.” 

A more sustainable future

Zespri has also continued to embrace more sustainable practices, making solid progress towards long-term sustainability goals.

“We’ve outlined a range of long-term targets which reflect our commitment to address areas that our consumers and customers have indicated should be a priority for a business like ours. Our climate change strategy, for example, sets out how we will work with the industry to help lead the transition to a low-carbon, climate-resilient future. We’re also continuing to move towards our goal of having 100% reusable, recyclable or compostable packaging by 2035 and to strengthen our efforts to create an industry where our people are well supported,” said Mathieson.

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