Ballance’s financial results are a positive sign for NZ primary sector
New Zealand is looking to, and counting on, the primary sector to underpin our economy. The sector provides opportunities for thousands of kiwis every day.
Owned by 18,000 farming families, Ballance Agri-Nutrients is well positioned to support the sector to drive the prosperity of NZ with a strong balance sheet and another year of consistent farmer and grower rebates. Leading into 2021, the Ballance team continues their unrelenting focus on nutrient leadership and leading by science.
“I want to acknowledge all the individuals that come together to form the Ballance team, we are fortunate to have an extremely talented and passionate group focused on delivering value for our shareholders, customers and all kiwis,” says Ballance Chairman, David Peacocke.
“The 2020 financial year has been like no other, with COVID-19 and extreme weather events from floods in the south to drought in the east and north. We’re entering a new era, and one thing is for sure, we can look forward to a renewed understanding of the value of the primary sector to NZ global economic future and reputation,” says David.
Ballance has confirmed a farmer rebate of $45 per tonne for the financial year ending 31 May 2020 – returning a total of $54 million to our farmer-shareholders. Profit Before Rebate and Tax is $68.9 million.
Total sales volume for the 2020 financial year, including nutrient products, animal feeds and industrial ingredients, were 1.6 million tonnes.
In FY 2020 Ballance launched SurePhos, an environmentally sustainable product reducing phosphate loss by up to 75% and the Green Hydrogen project received an offer of $19.9 million from government. Through collaboration with customers, shareholders and Government, Ballance has also created and delivered MitAgator, My Pasture Planner, SpreadSmart, SustaiN and PhaSedN.
MyBallance, the company’s online platform that brings their suite of innovate customer tools together, continues to enjoy rapid uptake with 9000 plus users.
Modern agriculture is dependent on inputs from fertiliser and other sources to maintain productivity. In 2019 NZ export revenue attributable to the primary sector was over $45 billion. About $19.8 billion of this revenue is dependent on access to nitrogen fertilisers. Similarly, the employment of almost 74,000 people in NZ is dependent on nitrogen fertiliser.
The Ballance purpose is very clear – Together, creating the best soil and feed on earth.
“We care deeply about the land, nutrients are needed as part of NZ’s sustainable farming future,” says Ballance CEO, Mark Wynne.
“Nutrients, such as nitrogen and phosphate, replenish and nourish the soil (whenua). Our role is to ensure the right nutrients, in the right amounts are available at that right time to ensure good quality grass and crops.”
For further information:
Media – Aimee Driscoll 027 487 9656
Shareholders – 0800 267 266
