Fonterra Shareholders (FSF) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed attendees and outlined the agenda, including management and board addresses, financial review, voting, and Q&A sessions.

• Agenda included CEO and Chair addresses, re-election resolution, and general business.

Financial performance review

• Operating profit from continuing operations reached $1.44 billion, up from $1.25 billion.

• Earnings per share held steady at 71 cents on a normalised basis.

• Total cash distribution increased to $0.57 per unit, up from 55c.

• Farmgate Milk Price rose to $10.16 from $7.83, and return on capital improved to 10.9%.

• Reported operating profit was $1,732m, with a dividend of 57 cents imputed.

Board and executive committee updates

• Board composition included MJ Daly (Chair), Alastair Hercus, Carlie Eve, John Nicholls, Andy Macfarlane, Peter McBride, Miles Hurrell, Richard Whiteman, and Jackie Floyd.