Latest news with #JasonTeBrake
RNZ News
22-05-2025
- Business
- RNZ News
Kiwifruit giant Zespri posts $155m profit, while corporate profit soars
Zespri's net corporate profit after tax, excluding revenue from licences, hit a record $79.8 million. Photo: Zespri Orchard gate returns have dipped across most kiwifruit varieties per tray in the 2024/2025 fruit season, off records last year, while marketing giant Zespri's corporate profits hit a record. The kiwifruit marketer has reported an after-tax profit of $155.2 million for the financial year, down 10 percent on last year to $173.3m. Meanwhile, the company's net corporate profit after tax, excluding revenue from licences, hit a record $79.8m, up 291 percent from $20.4m on the year prior. Zespri released fewer licences that growers required to plant the trademarked fruit, which ate into its profits through the season. For the country's 2800 kiwifruit growers, orchard gate returns were all down, except for Organic SunGold that was at a record $15.20 a tray, up 3 percent on last year's $14.71 per tray. The biggest annual drop was seen for Green down 12 percent off last year's record, to $8.36 per tray, followed by RubyRed down nearly 10 percent to $17 a tray. Zespri chief executive Jason Te Brake said strong sales were reflected in good demand from European Union markets. Photo: Supplied / Dscribe Media Chief executive Jason Te Brake said it dropped its planting licences down to 250 hectares from 400ha, in response to supply chain constraints and challenging global market conditions. "We increased our profit on being able to sell fruit, the underlying part of the business, for New Zealand supply and also for our Northern hemisphere fruit," he said. "But it was offset by a decrease of how much license we released last year, so we released a lower volume of licence which meant that we had a drop in profit." He said the drop came after a "good run" of high levels of licences, and was set to return to 400ha the following year. "We decided just to step back slightly as we went through some more tricky situations on the New Zealand front with some of the weather impacts and also some of the supply chain constraints that we'd seen." Orchard gate returns for Organic SunGold were at a record $15.20 a tray, up 3 percent on last year's $14.71 per tray. Photo: Zespri Meanwhile, he said strong sales were reflected in good demand from European Union markets like Germany, France and Spain, and North American market too, offset by lowered confidence in Asian markets. "We've increased both volume and value in our key markets despite downward pressure in the category and surpassed a significant milestone in reaching $5 billion in global fruit sales, exceeding our longstanding sales goal set a decade ago," he said. "We're returning really strong value to our growers, with our highest ever recorded direct returns to the New Zealand industry, breaking the $3 billion threshold in 2024/25." He said it would be good for growers to see the positive financial results. "[Growers] have invested heavily in the brand and our supply chain for the last decade, but also had some pretty challenging seasons in recent memory as well." Te Brake said for this season, 2025/26, it had been an exceptional harvest, and it was 20 percent through its sales programme with plenty more work to do. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
NZ Herald
21-05-2025
- Business
- NZ Herald
Kiwifruit record: Zespri achieves $5b sales milestone, 220 million trays sold
Excluding licence revenue, the company's net corporate profit was a record $79.8m, up from $20.4m in 2023-24. Chief executive Jason Te Brake said the result reflected an industry-wide effort to deliver a record crop and strong sales in key markets. 'We've increased both volume and value in our key markets despite downward pressure in the category and surpassed a significant milestone in reaching $5b in global fruit sales, exceeding our longstanding sales goal set a decade ago. 'At a per-hectare level, returns are up and at record levels for Green, Organic Green and Sweet Green off the back of the season's improved yields following a challenging few years for growers and we've been able to return strong value at a per-tray level for all categories in a record crop year, with final average per-tray returns above our February forecast.' Zespri said its net profit excluding licence revenue reached a record $79.8m. The New Zealand supply segment delivered a profit of $56.4m in 2024-25, up from the $10.2m loss in 2023-24 on the back of a larger crop, strong value in-market and a focus on greater overhead efficiencies. The non-New Zealand supply sales also performed well, hitting $652.4m. Looking ahead, 2025-26 season sales had started well, particularly in Europe and the US. Zespri, based in Mount Maunganui, had also made a strong start in Asia, despite generally softer market conditions, it said.
NZ Herald
13-05-2025
- Business
- NZ Herald
Kiwifruit shipment to China marks Zespri's biofuel-powered milestone
On its journey north, the Kowhai was powered by a blend of biofuel made from used cooking oil. Along with FCC, the successful biofuel charter has been made possible with support from PFS Cold Chain Logistics Co. Ltd, and VX Cold Chain Logistics, Zespri's logistics partners in China. Zespri chief executive Jason Te Brake said it was an exciting step forward to take Zespri kiwifruit to market for the first time on a charter powered by biofuel with long-term shipping partner FCC. 'Shipping has the largest carbon impact across our supply chain, making up more than 40% of Zespri's emissions for fruit sold globally. 'With Zespri delivering fruit to more than 50 markets around the world each year, we're focused on efficiency measures as well as collaborating with shipping partners such as FCC to trial low-emissions solutions. 'This will help us reduce our carbon impact per tray of fruit.' FCC's president and chief operating officer, Toshiyuki Kog,a said, 'FCC is committed to reducing emissions in order to assist Zespri meet their carbon reduction ambitions and make progress towards our own International Maritime Organisation (IMO) aligned goals. 'This is being achieved by the building of new ships, dedicated to the New Zealand kiwifruit trade. 'These ships incorporate the latest engine technology, which provides significant fuel savings and are able to run on biofuel to further reduce carbon emissions. 'This voyage is the first commercial shipment of Zespri kiwifruit using modern engines burning biofuel for the entire voyage from Tauranga to Shanghai.' Te Brake said the arrival in China of the biofuel-powered Kowhai also signalled the start of Zespri's sales season in one of its largest markets. 'China is an important market for us, and we're delighted to see the arrival of the first of the New Zealand crop for customers and consumers in China, while also working with our partners to learn more about decarbonising our shipping. 'It's all part of understanding what we need to do on the ground so we can scale this in the future as low-emissions fuels become a viable option for New Zealand shipping. 'It's been great to work with our long-term partners to make this biofuel sailing happen, and as we continue to look to undertake further low emissions work, we look forward to seeing investment in both low emissions fuels and supporting infrastructure and regulations that will enable us to continue on this path.'
Newsroom
11-05-2025
- Business
- Newsroom
Defiant Zespri vows to grow kiwifruit sales in ‘challenging' trade war
Donald Trump and his tariffs will not scare Zespri into sending a single tray of America-bound kiwifruit to a different market. The kiwifruit marketer's new chief executive, Jason Te Brake, says they won't be deterred by the flat tariff imposed on its New Zealand-grown fruit. "North America is a longterm strategic growth market for us, and we'll continue to invest there, even with the current situation around tariffs.
