News & Advice

Ravensdown’s financial result for the year ended 31 May 2026 is underpinned by a solid lift in fertiliser demand, surety of supply when it matters, resilient operations and a continued focus on delivering for shareholders.

The co-operative today announced a net profit before tax and rebate of $50.1 million (FY25: -$2.0 million) on revenue of $917.2 million which was up 20% on the previous year.

After several years of subdued fertiliser demand, improving agricultural returns, particularly for sheep and beef farmers, have supported a recovery in nutrient applications and sales volumes.

Overall fertiliser sales volumes were up 8 percent with over 1 million tonnes sold, compared to 962,000 tonnes sold in the previous financial year.

Garry Diack, Ravensdown Chief Executive, said that over the past financial year the organisation has delivered a number of targeted projects to drive performance including significant investment in our manufacturing commitment, freight optimisation, improved data decision support, and automation supported by AI.  

"This result reflects the discipline we've applied across the business to become a more efficient, resilient co-operative. By improving our operations, we've strengthened our financial performance while continuing to invest in the products, services and expertise our shareholders rely on."

Balance sheet equity remains strong at 79% equity ratio.

Shareholder rebate

Bruce Wills, Ravensdown Chair, said after weighing global supply volatility with a commitment to returning the benefits of efficiency to shareholders, the Board has decided a rebate is appropriate and has approved a shareholder rebate of $15 per tonne on qualifying tonnes. 

“This returns value directly to the farmers and growers who own and use the co-operative and who supported the business through the volatility of supply certainty in a high demand year. 

“Our focus throughout the year has been to provide secure access to our products at competitive prices, and we're pleased to be returning additional value to our shareholders through this year's rebate”. 

"Fully paid shareholders will receive their rebate as a cash payment, recognising the investment they've made in the co-operative, while partly paid shareholders will this year receive their full rebate in the form of shares, helping them build their ownership in the co-operative.

“We encourage shareholders to be fully shared up to access the full value of membership in the co-operative."

A year of supply surety

Garry Diack said that this financial performance demonstrated the value of the co-operative to deliver on its purpose in an increasingly uncertain global environment.

"International fertiliser markets remain heavily influenced by geopolitical events. Conflict in the Middle East, the ongoing war in Ukraine and broader supply chain disruptions continue to create volatility in both product availability and pricing."

Ravensdown's long-standing relationships with global suppliers and our JV partnership with Ravensdown Shipping Services are valuable strategic assets that have proven their worth to the business and shareholders over the last year.

"Our supplier partnerships have been built over decades. They are founded on trust, reliability and mutual commitment, and they provide Ravensdown access to product through different market cycles.

"These relationships, combined with our domestic superphosphate manufacturing capability and national inventory management system designed to handle volatility, mean we're able to provide loyal customers with certainty in an increasingly uncertain world."

Smarter farming

During FY26 Ravensdown continued to invest in initiatives that support New Zealand farmers and growers to improve productivity while reducing environmental impacts, taking Ravensdown to a fertiliser plus impact-based relationship with its customers.

The next generation of Ravensdown’s HawkEye technology provides more detailed nutrient insights. HawkEye Pro uses unique methodologies, embracing AI to provide more detailed information and recommendations and generate precise fertiliser plans tailored to each farm. HawkEye Pro is now available to dairy and sheep and beef farmers and will incorporate crops, including forage, before the end of 2026.

Mr Diack said through its subsidiary, Agnition, Ravensdown is continuing to invest in technologies that deliver tangible emission reductions on farm.

“EcoPond is now operating on more than 200 farms across New Zealand in partnership with Fonterra and Synlait. Global food leader Nestlé has worked with both dairy companies to reduce emissions intensity across their supply chains.

“The support of our partners has been invaluable in taking EcoPond from an innovative prototype to a proven methane reduction technology that is being deployed on farms today.”

Looking ahead

Looking ahead, Mr Diack said while global uncertainty was expected to continue, Ravensdown remained well positioned.

"We know farming businesses continue to face changing market conditions and ongoing cost pressures. Our focus remains on being a trusted partner for shareholders by securing reliable supply at competitive pricing, providing expert advice, and delivering value through every part of the co-operative."

Strong financial discipline remains a priority as the industry faces the ongoing dynamic geopolitical environment and further supply chain challenges over the coming year.

The FY26 year at a glance (numbers for FY25 in brackets)

• Total revenue before rebate: $917.2 million ($763.9 million)
• Net profit before tax and rebate: $50.1 million (-$2.0 million)
• Net profit after tax and rebate: $30.0 million (-$5.4 million)
• Operating cashflow: $38.1 million ($103.2 million)
• Equity ratio: 79.1% (80.3%)
• Rebate: $15 per tonne on qualifying tonnes 

For information on Ravensdown Co-operative’s shareholding requirements, refer to Ravensdown’s Product Disclosure Statement.