Fonterra Financial Overview
Reconciliation to Total Group EBIT
31 Jan 2021
31 Jan 2022
Fonterra
Dairy for life
Continuing
Discontinued
Continuing
Discontinued
NZD million
Operations'
Operations'
Total Group
Operations'
Operations¹
Total Group
Revenue
9,597
318
9,915
10.588
209
10,797
Cost of goods sold
(7,946)
(247)
(8,193)
(9,039)
(151)
(9,190)
Gross profit
1,651
71
1,722
1,549
58
1,607
Gross margin
17.2%
22.3%
17.4%
14.6%
27.8%
14.9%
Operating expenses
(1,013)
(42)
(1,055)
(1,011)
(51)
(1,062)
Other²
14
3
17
63
(1)
62
Normalised EBIT
652
32
684
601
6
607
Normalisations
(50)
23
(27)
Reported EBIT
602
55
657
601
6
I
CO
607
1. Refer to Note 1a and 2b of the FY22 Interim Financial Statements
2. Consists of other operating income, net foreign exchange gains/(losses) and share of profit or loss on equity accounted investees
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