Page 34 - Food&Drink Magazine November-December 2021

AUSTRALIA’S TOP 100 FOOD & DRINK COMPANIES 2021
SPONSORED BY
ABBREVIATIONS O Overseas NL Non-listed P Publicly listed Pty Proprietary/private C Co-operative ▼ Sales down ▲ Sales up
TREASURY WINE ESTATES
Disruptions, milestones and progress
7
REV UP/DOWN
TYPE
REV $M
PERIOD
PREVIOUS REV $M
AT THE HELM
▼
P
2775
06/20
2964
Tim Ford
LUXURY and premium portfolios were major drivers for Treasury Wine Estates in FY21, accounting for 77 per cent of global net service revenue, up from 71 per cent in FY20.
TWE’s year started with a 1H FY21 net profit after tax drop of 43 per cent to $121 million. While COVID-19 impacts contributed, it was the reduced shipments to China due to anti-dumping and countervailing investigations
by the Chinese Ministry of Commerce that hit hard. At FY end, its Asia business reported
a 15 per cent decline in EBIT to $205.4 million, with mainland China EBIT down $77.3 million
due to the import duties. CEO Tim Ford said demand would remain extremely limited while the provisional measures were in place. In March, TWE announced the sale of US brands Beringer Main & Vine, Beringer Founders’ Estate, Coastal Estates and Meridian. Expected to generate $100 million, Ford said the sale was a ‘significant milestone’, allowing the company to focus on its premium portfolio.
With ongoing COVID-19 disruptions the proposed de- merger of Penfolds was put on hold, replaced by an operational restructure across brand portfolios rather than regions.
The three divisions – Penfolds, Treasury Premium Brands, and Treasury Americas – are serviced by centralised business, supply and corporate units.
TWE joined RE100, committing to 100 per cent renewables by 2024 across the company’s
global operations. TWE has
also set a focus on promoting a circular economy and increasing recycling/reusability with its packaging. This year the company diverted 96.7 per cent of its packaging waste from landfill.
Treasury Wine Estates is a locally owned public company listed on the ASX under the code TWE.
8
SAPUTO DAIRY AUSTRALIA
Largest processor setting standards
REV UP/DOWN
TYPE
REV $M
PERIOD
PREVIOUS REV $M
AT THE HELM
▲
O Pty
2768
03/21
2655
Lino Saputo
SAPUTO Dairy Australia slipped just one place to #8 this year but retained the position of Australia’s largest dairy processor. Saputo produces, markets, and distributes cheeses, butter and butter blends, milk and cream, as well as ingredients such as milk powder, whey protein concentrates and lactoferrin. Its brands are Cracker Barrel, Devondale, Great Ocean Road, King Island Dairy, Liddells, Mersey Valley, Mil Lel, South Cape, Sungold, Tasmanian Heritage and Warrnambool
Heritage Cheddars.
This year, Saputo has been
part of a $1.5 million smart sensing project that will enable recycling companies to produce 100 per cent recycled high- density polyethylene (HDPE) by eliminating the label adhesive contaminant that currently remains on the plastic flakes when HDPE milk bottles are recycled. The current Australian recycling rate for rigid HDPE
is around 25 per cent with the average recycled content only about 2 per cent.
Project partners are PEGRAS Asia Pacific, NSW Smart Sensing Network (NSSN), Universities of NSW, Sydney, and Technology, Sydney, Labelmakers Group, Bega, and Lactalis.
The company also rebranded Coon Cheese to Cheer Cheese after consumers called for a name change due to its discriminatory connotations. The company said it was committed to building a culture of acceptance, inclusion, respect, and belonging. Saputo is ultimately owned by Saputo Inc., a Canada-based dairy producer.
34 | Food&Drink business | November-December 2021 | www.foodanddrinkbusiness.com.au