Ballance Agri-Nutrients Limited

Ballance Agri-Nutrients Limited is a New Zealand farmer-owned fertilizer co-operative that manufactures, supplies and sells fertilizers together with agri-science and farm advisory services, including nutrient mapping and soil sustainability tools. Its leadership in the 2024 financial year comprised Chair Duncan Coull and Chief Executive Kelvin Wickham, in his first year in the role.

For the financial year ended 31 May 2024 the co-operative reported revenue down 24 percent to NZD 929 million, reflecting lower commodity prices, with sales volumes from continuing operations of 1.16 million tonnes, down around 100,000 tonnes. Profit before tax fell to NZD 17.2 million from NZD 46.5 million as lower market prices were passed through to customers, and the board chose not to pay a shareholder rebate for the second consecutive year.

The co-operative prioritised balance sheet strength: working capital reductions cut closing inventory 37 percent to 281 kilotonnes, and together with the sale of the SealesWinslow business this enabled a NZD 69 million reduction in net debt, while NZD 69 million of capital expenditure went into plant maintenance and efficiency upgrades.