Fonterra Co-operative — FY2004 Earnings Presentation

6 slides from Fonterra Co-operative's earnings presentation, May 31, 2004

Slide 1: Financial Results Year ended 31 May 2004
Financial Results Year ended 31 May 2004
Slide 2: Financial Performance
Financial Performance Season 2003/ 2004 Season 2002/ 2003 NZD Millions NZD Millions Total revenue 11,830 12,474 Cost of milk (at final payout) (5,104) (4,135) Other costs of goods sold (4,627) (5,738) Gross margin 2,099 2,601 Operating expenses (1,807) (2,053) Operating result 292 548 Interest (250)
Slide 3: Financial Position
Financial Position Season 2003/ 2004 Season 2002/ 2003 NZD Millions NZD Millions Inventory 2,861 2,751 Receivables and prepayments 1,751 1,815 Other current assets 175 182 Total current assets 4,787 4,748 Payables, accruals and supplier payables (1,877) (1,323) Other current liabilities (173) (124)
Slide 4: Cash Flows
Cash Flows Season 2003/ 2004 Season 2002/ 2003 NZD Millions NZD Millions Net cash flows from operating activities 779 534 Net cash flows from investing activities (402) (403) Net cash flows from financing activities (303) (137) Net increase/ (decrease) in cash held 74 (6) 4
Slide 5: Operating statistics
Operating statistics Season 2003/ 2004 Season 2002/ 2003 Season 2001/ 2002 Total NZ Milk collected (M Litres) 14,016 13,429 13,133 Total NZ Milksolids collected (M KG’s) 1,201 1,148 1,111 Average Milksolids per supplier (KG’s) 98,000 91,000 85,000 Average payout per supplier (NZD) 416,500 330,000 45
Slide 6: TO LEAD IN DAIRY
TO LEAD IN DAIRY