Zespri has announced its 2024/25 financial results, achieving record-breaking global operating revenue of NZ$5.14 billion. The company also surpassed its global fruit sales revenue goal, reaching NZ$5.03 billion, exceeding the NZ$4.5 billion milestone set in 2015 for achievement by 2025.
The kiwifruit marketer sold a record 220.9 million trays of kiwifruit during the season, up from 164.2 million trays in 2023/24. Total New Zealand-grown fruit and service payments reached NZ$3.10 billion, marking the first time direct returns to the local industry have exceeded the NZ$3 billion threshold. These payments were distributed across key growing regions, including the Bay of Plenty, Northland, the East Coast, Nelson, and the Waikato.
Zespri reported a net profit after tax of NZ$155.2 million, down from NZ$173.3 million the previous year. The decrease was largely attributed to reduced licence revenue following a drop in available hectares. However, excluding licence revenue, the company recorded its highest-ever net corporate profit of NZ$79.8 million, up from NZ$20.4 million in 2023/24. The expected total net dividend for the year is NZ$0.77 per share.
CEO Jason Te Brake said the results reflect a significant collective effort by the industry to deliver a record crop and strong sales in key international markets. He noted that Zespri had increased both volume and value in core markets, despite downward pressures within the category, and emphasized the achievement of surpassing the NZ$5 billion sales mark as a source of pride for the industry.
According to Te Brake, grower returns per hectare reached record levels for Green, Organic Green, and Sweet Green kiwifruit, supported by improved yields following several challenging seasons. Average returns per tray also exceeded February forecasts across all categories.
Zespri's corporate performance also improved, with the New Zealand Supply segment delivering a profit of NZ$56.4 million in 2024/25, a major turnaround from the NZ$10.2 million loss in 2023/24. The improvement was driven by a larger crop, strong in-market value, and greater overhead efficiencies.
Sales from Zespri's Non-New Zealand Supply operations also performed well, reaching NZ$652.4 million from 26.5 million trays sold. Te Brake highlighted the importance of Zespri Global Supply (ZGS) in supporting the launch of New Zealand's sales season and noted that offshore volumes are expected to grow further following a successful producer vote to expand production.
Looking ahead, Te Brake emphasized the company's commitment to delivering strong results in the 2025/26 season and continuing to build value for growers. He reported a solid start to sales in Europe, the U.S., and Asia, despite softer market conditions, and underscored Zespri's focus on brand-led demand, supply chain transformation, and product innovation over the next decade.
For more information:
Anna Cross
ZESPRI
Tel: +64 27 316 7777
Email: [email protected]
www.zespri.com