2022 Annual Results slide image

2022 Annual Results

Ingredients million 2021 2022 %A¹ 1 Sales volume² ('000 MT) 2,346 2,197 (6)% Revenue ($) 13,697 15,703 15% Gross profit ($) 1,104 1,684 53% Gross margin (%) 8.1% 10.7% . Operating expenses ($) (772) (871) (13)% Other³ ($) 33 103 212% Normalised EBIT4 ($) 365 916 151% Includes EBIT attribution (109) 260 from Group Operations5 ($) Note: Figures are for the year ended 31 July and are on a normalised continuing operations basis. Comparative information includes re-presentations for consistency with the current period 1. Percentages as shown in the table may not align to the calculation of percentages based on numbers in the table due to rounding of figures 2. Includes sales to other channels 3. Consists of other operating income, net foreign exchange gains/(losses) and share of profit or loss on equity accounted investees 4. Includes EBIT attribution from Group Operations 5. Included in Ingredients' EBIT. Refer to Glossary for explanation of Group Operations . . Fonterra Dairy for life Strong performance in the Ingredients channel across multiple markets and products at a time of constrained milk supply Gross profit and margins improved reflecting: 。 higher product prices, particularly in our protein portfolio o improved product mix, including increased allocation to our higher value Active Living products, partially offset by; reduced sales volumes due to lower milk collections and shipping disruptions 'Other' up due to higher other operating income and favourable foreign exchange movements Favourable allocation from Group Operations reflects improved margins, particularly in casein 35
View entire presentation