7th December 2023 FonterraFonterra’s first quarter profit after tax is up 85% on the same time last year as the dairy exporter banks better margins across its portfolio.
24th November 2023 Fonterra / NutianiFonterra is taking its wellbeing nutrition solutions brand, Nutiani, to the High 5 NZ Health Summit in Auckland on November 24.
10th November 2023 Emissions / FonterraScientists have broadly welcomed Fonterra’s roadmap to reduce its scope 3 emissions but have questioned the use of intensity targets rather than absolute goals.
10th November 2023 Emissions / FonterraGreenpeace Aotearoa says Fonterra’a proposed climate roadmap is little more than “polishing a turd” because it contains no real measures to reduce emissions.
9th November 2023 Emissions / FonterraThe dairy co-op plans to cut its scope 3 emissions by adopting an intensity reduction goal rather than a hard target for cutting overall on-farm greenhouse gases.
6th November 2023 FonterraFonterra’s dairy ingredients and solutions brand, NZMP, has published advice on recombination for its customers.
2nd November 2023 Fonterra / NestleFonterra has completed the sale of its Nestlé’s Dairy Partners Americas Brazil joint venture to French dairy company Lactalis.
1st November 2023 Fonterra / PeopleThe dairy co-op says Neil Beaumont is leaving this Friday having only just starting in February.
30th October 2023 Awards / FonterraEntries have opened for the Fonterra Responsible Dairying category, as part of the 2024 New Zealand Dairy industry Award programme.
24th October 2023 FonterraThe dairy giant’s nutrition science solutions ventures arm has been given a new name and added three investments to its portfolio.
9th October 2023 FonterraFonterra has revised its forecast for the farmgate milk price range, with the midpoint going up 50 cents.
5th October 2023 FonterraFonterra is stepping up its commercial probiotics game by forming a partnership with what it describes as a world-leading Irish research centre specialising in human microbiome.
22nd September 2023 FonterraCEO Miles Hurrell says a sale of the NZ consumer business is not on the cards, despite a dire year, so what else did he and his CFO have to say about the embattled division?
21st September 2023 FonterraProfit rockets 170% to $1.6bn but no thanks to its consumer division, which plunged to a $164m loss on the back of brand write-downs.
8th September 2023 FonterraFonterra plans to slim down its board from 11 to 9 seats.
4th September 2023 Fonterra / RabobankThere has been a reshuffle at the top of Rabobank’s annual ranking of global dairy firms as currency fluctuations, inflation and pricing come to the fore.
1st September 2023 FonterraFonterra plans to cut $1bn off its operating costs by 2030, according to chief executive Miles Hurrell who said the plan had been in development since late last year.
25th August 2023 Fonterra / ViviciThe precision fermentation startup Fonterra co-founded with partner Royal DSM last year now has a name, a CEO, and its first funding in the bank.
18th August 2023 FonterraFonterra has reduced its farmgate milk price forecast for the second time in two weeks.
14th August 2023 FonterraFonterra’s $50m share buyback programme will commence on 18 August 2023 and is expected to continue until 13 August 2024 as part of the co-op’s ongoing capital management programme.
11th August 2023 FonterraFonterra expects to end the year at the top end of its forecast earnings range of 65-80 cents per share.
10th August 2023 FonterraFonterra has confirmed the key dates for its capital return after receiving final orders from the High Court sanctioning its farmer-approved scheme of arrangement.
4th August 2023 Fonterra / MIANew Zealand’s dairy and meat exports are coming under pressure with subdued demand from China playing a major role.
2nd August 2023 Fonterra / IngredientFonterra’s B2B ingredients division, New Zealand Milk Products, has launched a new tool that aims to enable customers too quickly and effectively compare ingredients suitable for their specific needs.
31st July 2023 FonterraFonterra will this year provide native seedlings and resources to 22 schools participating in the Trees for Survival programme.
27th July 2023 FonterraFonterra is allocating $50m to start an on-market share buyback programme next month.
26th July 2023 Fonterra / NestléThe proposed sale by Fonterra and Nestlé of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis has caught the eye of staff at Brazil’s antitrust watchdog CADE.
26th July 2023 FonterraFarmers have voted in favour of Fonterra’s capital return scheme.
20th July 2023 Emissions / FonterraThe government has pledged $90m from its GIDI fund to help Fonterra accelerate the exit of coal from its operations.
20th July 2023 Fonterra / PeopleA 34-year Fonterra veteran is taking up the top job as chief executive officer of Ballance Agri-Nutrients.
12th July 2023 Fonterra / FundingFonterra has pushed back it’s upcoming special meeting to approve its proposed capital return.
13th June 2023 FonterraFonterra has outlined plans for its proposed $800m shareholder capital return, following interim orders by the High Court.
9th June 2023 FonterraStandalone business will incubate, scale and invest in nutrition science ventures via partnerships and M&A, with its first investment already inked.
1st June 2023 Fonterra / PeopleA relatively new joiner to Fonterra is to act up as chief operating officer replacing current COO Fraser Whineray who is leaving the co-op next month.
25th May 2023 FonterraThe dairy co-op posts an almost threefold increase in third-quarter profit, although its consumer division is still in the doldrums.
19th May 2023 FonterraFonterra Brands has been named 2023 Supplier of the Year Award by Australian wholesale distribution and marketing company Metcash.
1st May 2023 FonterraNew Zealand milk production was up 0.3% on a litres basis, or up 1% on milk solids basis, in March compared to March the year prior, according to Fonterra.
24th April 2023 Emissions / FonterraFonterra says it will install a heat pump and solar thermal system at two of its sites, as part of its ongoing decarbonisation efforts.
11th April 2023 Anchor / FonterraThe GM says Fonterra is looking to “push the boundaries” of its $1.2bn Anchor brand, and grow its footprint in South East Asia and China.
3rd April 2023 FonterraFonterra has downgraded its forecast farmgate milk price to $8 to $8.60 per kilogram of milk solids, from its previous forecast of $8.20 to $8.80 per kgMS.
31st March 2023 FonterraFonterra has completed the sale of its Chilean Soprole business to Gloria Foods – JORB S.A.
28th March 2023 FonterraFonterra’s flexible shareholding capital structure comes into effect today, after two years of development.
23rd March 2023 FonterraNew Zealand dairy giant Fonterra has not escaping scrutiny in a new international report which outlined more than 50 examples of “greenwashing” after analysing misleading claims in the food sector.
16th March 2023 FonterraThe co-op says a strong performance from ingredients and a recovery in foodservice more than offset ongoing challenges in its consumer business.
16th March 2023 Fonterra / GroceryFonterra wrote down the value of its New Zealand and Asian consumer brands by a total of $162m in the first half of FY23 as it battled higher input costs and ongoing pressure on margins.
1st March 2023 Fonterra / Perfect DayA US patent recently granted to plant-based startup Perfect Day has been challenged by an anonymous petitioner.
24th February 2023 Fonterra / PricesSoftening demand has seen Fonterra revise its full year 2023 farmgate milk price and collections.
23rd February 2023 Fonterra / M&AFonterra is progressing its condition sales of its Chilean Soprole business to Gloria Foods, having received sign-off from the country’s competition authority.
31st January 2023 FonterraFonterra has signed a five-year contract to install Eroad fleet management hardware across its fleet of 500+ milk tankers.
13th December 2022 Fonterra / NestleFonterra and Nestlé are selling their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m, which is approximately NZ$210m, subject to transaction adjustments.
8th December 2022 FonterraFonterra posted an 84% jump in normalised profit after tax in the first quarter, off the back of a strong margins in protein portfolio – particularly for casein and caseinate products used in medical nutrition.
1st December 2022 Fonterra / NestleThe pilot will take place at a farm surrounding Fonterra’s Whareroa site and will aim to reach net zero carbon in 10 years.
29th November 2022 Fonterra / Riddet InstituteNew milk products with enhanced digestibility are expected to follow the two-year research project being funded by the dairy exporter.
25th November 2022 FonterraFonterra has confirmed that its new flexible shareholding capital structure is set to be implemented in late March 2023.
18th November 2022 FonterraThe co-op says it “remains committed to targeting a significant capital return” following the deal.
9th November 2022 Fonterra / PeopleNeil Beaumont will join the co-op next year from CAD$500bn investment fund Canada Pension Plan Investment Board.
7th November 2022 Fonterra / NZ Functional FoodsFonterra’s global managing director of foodservice has left the dairy co-operative to take charge of setting up the proposed $60m Southland oat milk factory.
7th November 2022 Australia / FonterraFonterra Australia has reached an agreement to settle class action proceedings filed on behalf of Australian farmers over a cut in milk payouts in 2016.
1st November 2022 Fonterra / SynlaitSynlait Milk has appointed of Charles Fergusson to the role of director of on-farm excellence & business sustainability.
17th October 2022 Fonterra / SynlaitThe dairy company raids Fonterra’s senior ranks to appoint a director of advanced nutrition and a director of strategy, innovation and corporate.
17th October 2022 Fonterra / SustainabilityFonterra has released a Sustainable Finance Framework.
29th September 2022 Fonterra / SustainabilityFonterra is trialing an organic polymer battery at its Waitoa UHT plant.
27th September 2022 Fonterra / Supply ChainFonterra has commenced a pilot of digital capability that will enable customers to have greater visibility of their cargo through the delivery process.
22nd September 2022 FonterraFoodservice earnings fell 63% but ingredients jumped to more than $900m.
22nd September 2022 Fonterra“We’ve looked at a number of options for our Australian business and have decided that it’s in the co-op’s best interests to maintain full ownership,” says CEO Miles Hurrell.
13th September 2022 Fonterra / RegulationAn amendment bill introduced to Parliament today will provide greater economic security for New Zealanders by supporting Fonterra’s move to a new capital structure, says the government.
9th September 2022 FonterraDairy giant Fonterra has increased its forecast for next year’s earnings lifting its forecast earnings guidance to 45c to 60c per share, up from 30c to 45c per share.
7th September 2022 Fonterra / Innovation“We see a clear opportunity to win in critical segments of the global wellbeing nutrition space,” says chief innovation and brand officer, Komal Mistry-Mehta.
26th August 2022 FonterraFonterra has cut its milk price forecast for the current year due to falling global dairy prices.
25th August 2022 Fonterra / InnovationThe joint venture aims to commercialise precision fermentation IP developed in partnership with Royal DSM.
23rd August 2022 Fonterra / SynlaitThe dairy companies both make internal promotions to fill gaps in their executive teams – with Synlait also losing a director.
12th August 2022 FonterraFonterra has released an upbeat forecast for its full-year profit.
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26th July 2022 Fonterra / PeopleThe second of two newly created executive roles is filled by an internal appointment, this time by promoting GM capital strategy Emma Parsons.
18th July 2022 Fonterra / SustainabilityNew Zealand’s first electric milk tanker has been officially launched by Minister for Energy and Resources Megan Woods in Morrinsville.
30th June 2022 FonterraFonterra has sold down its 100% ownership of the global dairy auction platform Global Dairy Trade to New Zealand’s Exchange and the European Energy Exchange.
23rd June 2022 Fonterra / PeopleThe co-op is adding two new management roles and merging two business units, prompting the departure of 34-year veteran Kelvin Wickham.
8th June 2022 Dairy / FonterraDairy co-op Fonterra is buying back $50m in its own shares because it believes the price is too low.
30th May 2022 FonterraFonterra has moved to boost liquidity in its share trading platform, Fonterra Shareholders Market, in response to its sinking share price, which has wiped more than $1bn of its value since April.
26th May 2022 FonterraThe dairy giant’s earnings are down 15% year-to-date as margins are squeezed and its overseas markets are disrupted by China lockdowns, the economic crisis in Sri Lanka and the Russia-Ukraine conflict.
9th May 2022 FonterraFonterra has dropped its forecast milk price range for the season from $9.30 – $9.90 per kgMS to $9.10 – $9.50 per kgMS.
2nd May 2022 Fonterra / SustainabilityFonterra is expanding its on-farm trials of methane reducing Asparagopsis seaweed.
19th April 2022 Dairy / FonterraDairy company Fonterra has criticised the conclusions of a report commissioned by its largest competitor for New Zealand raw milk, Open Country Dairy, on the likely impact of its proposed restructuring.
1st April 2022 FonterraFonterra has reported a fall in milk production of 8.2% in New Zealand in February, when compared with the same month last year, according to its latest global dairy update.
22nd March 2022 Exports / FonterraDairy giant Fonterra is exiting its businesses in Russia and withdrawing from a joint venture partnership with Unifood.
17th March 2022 FonterraA higher milk price heaped pressure on the dairy co-op’s foodservice and consumer margins, leading to a fall in interim profit.
2nd March 2022 Fonterra / MGDairy giant Fonterra and MG Marketing have scooped a couple of key accolades at this year’s Cooperative Business New Zealand Annual Awards.
1st March 2022 Dairy / FonterraFonterra’s New Zealand milk collection dropped 6.1% to in January compared with the same month last year.
28th February 2022 Exports / FonterraThe move is understood to affect only a small amount of product, primarily butter.
25th February 2022 EV / FonterraFonterra is to operate New Zealand’s first electric 46T milk tanker.
24th February 2022 FonterraFonterra has lifted its farmgate milk price for the second time this year off the back of a rise in global prices and increased demand.
18th February 2022 Fonterra / Plant-basedFonterra-owned Anchor has launched its plant-based milk bottles in supermarkets in the South Island.
17th February 2022 FonterraFonterra is selling down its 100% ownership of the Global Dairy Trade platform, bringing in the European Energy Exchange and the New Zealand Stock Exchange.
9th December 2021 FonterraFonterra shareholders have overwhelmingly backed changes to the co-op’s capital structure with 85.16% of farmer votes supporting them.
3rd December 2021 FonterraThe dairy co-op’s first quarter EBIT falls 24% drop and it revises earning guidance down as its milk price forecast hits a new high.
10th November 2021 FonterraFonterra’s proposed changes to its capital structure will be put to a shareholder vote on 9 December.
5th November 2021 Fonterra / InnovationThe tie-up is part of the exporter’s expansion of its higher value active living ingredient business.
26th October 2021 FonterraDairy giant Fonterra has hiked its 2021/22 farmgate milk price range to $7.90 – $8.90 per kg of milk solids, with a midpoint of $8.40 per kg, up from $8.
19th October 2021 FonterraDairy company Fonterra has joined the Medical Nutrition International Industry (MNI), which represents companies that offer specialised nutrition solutions and services designed to meet the needs of patients.
15th October 2021 FonterraDairy company Fonterra wants to increase the value of its $3bn foodservice business, Anchor Food Professionals, to $5bn.
4th October 2021 Fonterra / ZespriThe 350 biggest global food firms are assessed on their environmental, nutritional and social impact. Who is leading and who is lagging?
28th September 2021 Campaigns / FonterraFonterra’s consumer dairy brand, Anchor, has launched a new brand platform ‘A Taste of Home’ with a fully integrated brand campaign.
24th September 2021 FonterraCovid-19 has changed consumer behaviour helping to drive Fonterra’s consumer brands, says CEO Miles Hurrell.
23rd September 2021 FonterraA strategy reset will see billions invested in “differentiating NZ milk on the world stage” to drive the co-op up the value chain.
16th September 2021 Fonterra / SustainabilityFonterra says it cut its greenhouse gas emissions from coal by 11% in one year thanks to the conversion to renewable wood pellets at its Te Awamutu site.
10th September 2021 Fonterra / ZespriFonterra, Zespri, and Foodstuffs are heavyweights in NZ’s top 30 co-operative rankings.
17th August 2021 ComCom / FonterraFonterra’s calculation of the base milk price it will pay farmers in the 2020/21 dairy season is consistent with the Dairy Industry Restructuring Act (DIRA), says the Commerce Commission.
2nd August 2021 Fonterra / MilkFonterra has started the new season with production up across the board, according to the firm’s Global Dairy Update for July.
28th July 2021 Environment / FonterraFonterra is to stop using coal at its Stirling cheese plant in Otago, moving to wood biomass to fire the site by August 2022.
22nd July 2021 FonterraThe manager of the Fonterra Shareholders’ Fund is continuing to discuss the dairy group’s capital structure proposals in confidence with Fonterra and with advisers, as it awaited more details regarding the future of the fund.
19th July 2021 FonterraFarmer feedback set to shape Fonterra’s revised capital structure proposal, according to the dairy co-operative.
12th July 2021 FMA / FonterraThe Financial Markets Authority has found no evidence to press forward with action against Fonterra regarding the timing of accounting write-downs for Beingmate Baby and Child Food Co and the China Farm assets.
7th July 2021 ComCom / FonterraThe Commerce Commission has updated its approach paper outlining the framework it applies when reviewing both how Fonterra sets its annual base milk price and the Milk Price Manual used to set the base milk price.
1st July 2021 FonterraFonterra’s New Zealand milk collection for May 2021 was 75.3 million kgMS, 7.7% higher than the same month last year.
29th June 2021 Dairy / FonterraFonterra is offloading its two joint venture farms in China to Singapore-based AustAsia Investment Holdings for $163m.
4th June 2021 FonterraAround 4,000 Fonterra co-operative members have so far attended a consultation meeting or joined a webinar about the proposed changes to the group’s capital structure, according to an update from the co-op’s council.
26th May 2021 FonterraFonterra will contribute $12bn to the New Zealand economy in the next season, says the co-op’s chief executive, Miles Hurrell.
7th May 2021 FonterraResearch from PwC found NZ is one of the most co-operative economies globally.
6th May 2021 FonterraPreferred option for capital structure review would dismantle or cap fund that gives outside investors access to co-op.
6th May 2021 FonterraFonterra yesterday went into a trading halt ahead of an announcement about its capital structure, expected this morning.
6th April 2021 FonterraFonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.
1st April 2021 FonterraNew Zealand milk production increased 3% on a litres basis in February 2021, compared to February last year.
1st April 2021 FonterraThe co-op says it will remove coal from its sites, as it continues its transition to renewable energy.
17th March 2021 FonterraThe co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.
16th March 2021 FonterraThe co-op’s shareholders have indicated support for an overhaul of the dairy giant’s structure.
9th March 2021 FonterraFonterra has lifted its 2020/21 farmgate milk price range forecast for the second time in two months.
26th February 2021 Corporate & Results / FonterraFonterra has lifted the bottom end of its 2021 forecast earnings guidance and narrowed the range to 25-35 cents per share, from 20-35 cents per share.
15th December 2020 Fonterra / NestleGlobal giant teams up with Fonterra and DairyNZ to co-fund plantain project in effort to reduce emissions.
15th December 2020 ComCom / FonterraThe Commerce Commission says it is “satisfied” with Fonterra’s milk prices.
8th December 2020 FonterraThe dairy co-op joins BECA, EECA and Firstgas Group in backing the research.
7th December 2020 FonterraStrong demand for NZ dairy has seen the co-op lift its milk price forecast and report Q1 earnings of $250m.
10th November 2020 FonterraFonterra is on the “home straight” of its turnaround and well-positioned to face continued Covid-19 induced global uncertainty, according to chief executive Miles Hurrell
5th November 2020 FonterraFormer lawyer Cathy Quinn has been appointed to Fonterra’s board of directors.
4th November 2020 FonterraThe dairy co-op returns to sustainable earnings as it continues to tackle environmental challenges.
2nd November 2020 Exports / FonterraFonterra released its Global Dairy Update last week with the latest data.
16th October 2020 FonterraThe Commerce Commission has today released its draft report on Fonterra’s Farmgate Milk Price Manual.
12th October 2020 FonterraFonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.
18th September 2020 FonterraFonterra has posted an after tax profit of $659m for the year to July 2020, a $1.3bn turnaround from the $605m loss it made the previous year.
