FY23 Financial Performance and Market Strategy
OBSERVATIONS ACROSS OUR CHANNELS
CHANNEL MIX CHANGES REFLECT REBALANCING OF DEMAND WHILE CORE POULTRY VOLUME
DECLINED SLIGHTLY BY 0.4%
Australian volume declined 0.6% (-2.5kt) due to lower bird numbers resulting from a decline in farming performance in 1H23
INGHAM'S
Always Good
■New Zealand volume grew 0.8% (+0.5kt), as the recovery in 2H offset the lower 1H performance from lower egg setting in response to labour shortages and reduced further
processing production driven by nation-wide shortage of CO2 early in 2H
Core Poultry volume (KT) change vs PCP
RETAIL
(2.3)
QSR
FOOD
SERVICE
■NZ
■AU
(0.7)
1.3
(0.1)
(3.1)
WHOLESALE
0.5
EXPORT &
OTHER
(1.7)
(0.6)
1. Commentary relative to the prior corresponding period, unless otherwise noted
1.6
16
Comments¹
3.1
Australia observed channels rebalancing from Wholesale to Retail, as key customer category growth
increased from consumers shifting to in-home-dining options
New Zealand was cycling 1H22 COVID impact, where volume shifted into Retail from Food Service and
Wholesale
Australia observed a softening in demand, while volume sold was impacted by supply limitations
New Zealand was cycling 1H22 COVID impact, while FY23 was supported by promotional QSR programs
New Zealand observed customers returning to pre-pandemic lifestyles, habits and travel activities reopening,
further supported by growth in the meal kit market
Despite a rebalancing to Retail, Australia observed strong for demand poultry products. Rebound in underlying
customer demand and rebalancing of channel mix/demand supporting price growth
ANZ Channel used to balance supply and manage excess stock. Stable underlying demand and tight supply
has resulted in less stock requiring clearing, with clearance and export volumes declining
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