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How Fonterra Co-operative Group Limited makes money — FY2026
Revenue $25.4b · EBITDA $3.9b (15.5% of revenue) · Net profit $2.6b (10.3% of revenue)
Band widths are proportional to NZD amounts. Dashed outlines mark derived figures; the hatched node is a balancing item (net profit less every line above it).
| FY2026 | Amount | Status | Note |
|---|---|---|---|
| Revenue | $25.4b | Reported | |
| Operating costs (net of other income) | −$21.5b | Derived * | Reported operating expenses $1,861m do not reconcile; not used. |
| EBITDA | $3.9b | Derived * | |
| Depreciation & amortisation | −$525.0m | Reported | |
| EBIT | $3.4b | Reported | |
| Interest (net finance costs) | −$166.0m | Reported | |
| Income tax | −$486.0m | Reported | |
| Other items (net cost) | −$162.0m | Balancing item * | Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised. |
| Net profit | $2.6b | Reported |
- * ebitda: $3.9b = EBIT + depreciation & amortisation
- * operating costs: $21.5b = Revenue − EBITDA
Figures extracted automatically from the annual report; check against the report. NZD thousands as stored, shown in millions. Source: annual_report_pdf · method: claude_haiku_pdf · extracted 18 October 2026.
Fonterra Co-operative Group Limited board of directors
9 current directors, 44% independent, average tenure 5.0 years.
| Director | Role | Independent | Appointed | Tenure | Committees |
|---|---|---|---|---|---|
| Peter McBride | Chair | No | 2020 | 6.0 yrs | Nominations Committee |
| Alistair Field | Independent Director | Yes | 2024 | 2.0 yrs | Audit Committee |
| Brent Goldsack | Non-Independent Director | No | 2017 | 9.0 yrs | — |
| John Nicholls | Non-Independent Director | No | 2018 | 7.9 yrs | — |
| Alison Watters | Non-Independent Director | No | 2022 | 4.0 yrs | — |
| Catherine Agnes Quinn ONZM | Independent Director | Yes | 2018 | 8.1 yrs | — |
| Jonathan Mason | Independent Director | Yes | 2026 | 0.1 yrs | — |
| Holly Kramer | Independent Director | Yes | 2020 | 6.5 yrs | People Committee, Nominations Committee |
| Michelle Pye | Non-Independent Director | No | 2025 | 1.0 yrs | — |
FCG governance score breakdown
Fonterra Co-operative Group Limited scores 76/100 (Very Good) on the NZXplorer Governance Risk Score for FY2026, based on 73% data coverage. See the GRS methodology.
- Board structure
- 19/25
- Shareholder rights
- 17/20
- Executive remuneration
- 3.5/10
FCG dividends
The most recent Fonterra Co-operative Group Limited dividend on record is 200.00 cents per share, for FY2026 (special), ex-dividend 8 Apr 2026, paid 14 Apr 2026.
Fonterra Co-operative Group Limited largest shareholders
Top 10 registered holders of FCG as disclosed for FY2025. Registry holdings include custodians and nominees, which may hold on behalf of many underlying investors.
| # | Holder | Holding |
|---|---|---|
| 1 | FNZ Custodians Limited | 13.74% |
| 2 | Custodial Services Limited | 11.41% |
| 3 | BNP Paribas Nominees (NZ) Limited – NZCSD | 10.92% |
| 4 | BNP Paribas Nominees (NZ) Limited – NZCSD | 9.97% |
| 5 | HSBC Nominees (NZ) Limited O/A Euroclear Bank – NZCSD | 9.22% |
| 6 | HSBC Nominees (NZ) Limited – NZCSD | 8.57% |
| 7 | HSBC Nominees (NZ) Limited A/C State Street – NZCSD | 7.53% |
| 8 | Generate KiwiSaver Public Trust Nominees Limited | 6.28% |
| 9 | Public Trust | 4.40% |
| 10 | NZX WT Nominees Limited | 2.18% |
Recent FCG NZX announcements
The 10 most recent filings by Fonterra Co-operative Group Limited to the NZX.
- Results announced for the 2026 Fonterra ElectionsAGM
- Northington Partners Independent ReportGeneral
- D&O Ongoing Disclosure Notice – Peter McBrideInsider Disclosure
- Monthly Allotment / Redemption NoticeCapital Change
- Global Dairy Update October 2026Operational Update
- Fonterra lifts forecast 2026/27 Farmgate Milk PriceOperational Update
- Notice of Annual Meeting Fonterra Co-operative Group LtdAGM
- Fonterra announces Chief Financial Officer resignationOther
- 2026 Fonterra Shareholders’ Fund Notice of MeetingAGM
- Monthly Allotment / Redemption NoticeCapital Change
Fonterra Co-operative Group Limited (FCG) — frequently asked questions
What does Fonterra Co-operative Group Limited do?
Fonterra Co-operative Group Limited is a New Zealand-based dairy cooperative and one of the world's largest dairy exporters. The company manufactures and sells a wide range of dairy products including milk powders, cheese, butter, and nutritional ingredients to customers across consumer, foodservice, and ingredient channels. Fonterra operates across New Zealand and Australia, with global distribution and manufacturing footprint, generating revenue primarily from the sale of dairy commodities and value-added dairy products to international markets. Fonterra Co-operative Group Limited is listed on the NZX under the ticker FCG, in the Consumer Staples sector.
What is the Fonterra Co-operative Group Limited (FCG) share price?
Fonterra Co-operative Group Limited (NZX:FCG) shares closed at $5.80 on 11 November 2026, down 0.51% on the previous close. At that price its market capitalisation was about $13.88 billion, based on 2,393,381,343 shares on issue.
Who are the directors of Fonterra Co-operative Group Limited?
Fonterra Co-operative Group Limited has 9 current directors: Peter McBride (Chair), Alistair Field (Independent Director), Brent Goldsack (Non-Independent Director), John Nicholls (Non-Independent Director), Alison Watters (Non-Independent Director), Catherine Agnes Quinn ONZM (Independent Director), Jonathan Mason (Independent Director), Holly Kramer (Independent Director) and Michelle Pye (Non-Independent Director). 4 of the 9 are recorded as independent (44%). Average board tenure is 5.0 years.
Who is the chair of Fonterra Co-operative Group Limited?
Peter McBride chairs the Fonterra Co-operative Group Limited board, and has been a director since 2020.
What was Fonterra Co-operative Group Limited's most recent dividend?
The most recent Fonterra Co-operative Group Limited dividend on record is 200.00 cents per share for FY2026 (special), ex-dividend 8 April 2026, paid 14 April 2026.
Who are the largest shareholders of Fonterra Co-operative Group Limited?
The largest registered holder of FCG shares in the FY2025 top-20 register was FNZ Custodians Limited, with 13.74%, followed by Custodial Services Limited (11.41%) and BNP Paribas Nominees (NZ) Limited – NZCSD (10.92%). Custodians and nominees on the register hold shares on behalf of other investors.
What is Fonterra Co-operative Group Limited's governance score?
Fonterra Co-operative Group Limited has an NZXplorer Governance Risk Score of 76/100 (Very Good) for FY2026, based on 73% data coverage.
When is the Fonterra Co-operative Group Limited annual meeting?
Fonterra Co-operative Group Limited's next annual meeting is scheduled for 12 November 2026.
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