Fonterra Financial Overview
2022 Board Statement of Intentions
In accordance with the Constitution of Fonterra, the Board Statement of Intentions sets out the
Board's intentions for the performance and operations of Fonterra. The table below provides an
update as at 31 January 2022, of Fonterra's performance against these targets.
Healthy People
Total recordable injury frequency rate (TRIFR) per million work hours
Female representation in senior leadership
Employee engagement
Farmer sentiment (Net Promoter Score for Fonterra in New Zealand)
Healthy Environment
Number of farms with Farm Environment Plans (New Zealand)
Reduction in water used at sites in water-constrained regions versus FY18
Reduction in greenhouse gas emissions from manufacturing versus FY18
Healthy Business
Fonterra % kgMS of New Zealand milk collected for the season ended 31 May
New Zealand Farmgate Milk Price (per kgMS)
Return on capital
Debt/EBITDA
Adjusted Net Debt Gearing Ratio
Normalised earnings per share
FY21
Fonterra
Dairy for life
FY22 Q2 YTD FY22 FY Target
5.7
32.4%
4.09
6.2
34.4%
5.6
35.8%
Top Quartile
23
23
30
53%
61%
67%
(2.6)%
(8.5)%4
(8.0)%
(6.5)%
(10.2)%4
(6.5)%
79%
79.5%5
$7.54
$9.30-$9.906
79.3%
$7.25-$8.75
6.6%
On track?
6.5% to 7.0%
2.7x
On track?
38.5%
On track?
2.4x
34.5%
34c
On track?
25c to 40c
1. Part of zero harm philosophy which also includes target 0 serious harm/0 fatalities
2. Senior leadership defined as Band 14+
3. Under ongoing management review of the provider and means of determining engagement, measurement of this
metric may not be completed during the FY22 financial year
4. Calculated using a combination of actual data and estimates. FY22 GHG target flat reflecting improved efficiencies
offset by increased volumes
5. Season to 31 January 2022. Prior comparable season to 31 January 2021: 79.5%
6. Latest publicly announced Forecast Farmgate Milk Price (24 February 2022)
7. FY22 Q2 reflects a full year forecast basisView entire presentation