Nufarm releases 2023 Annual Report and Sustainability Report

Nufarm have released its 2023 Annual Report, and 2023 Sustainability Report.

Strong earnings result and acceleration of Nufarm's growth strategy

Nufarm performed strongly in 2023, reporting a statutory net profit after tax three percent above the prior year and achieving a number of important milestones as Nufarm advanced its growth strategy.

Whilst the external environment was more challenging than the prior year, the result is an outcome of a disciplined focus on growth and performance. Diversity across geographies and core crops helped the crop protection business. The seed technology business continues to increase its revenue and profit contribution to the group and its expansion into new, sustainable technologies is providing a platform for accelerated growth.

Strategic focus on innovation and technology

Agriculture faces major global forces that present significant opportunities for Nufarm. The world needs to feed a growing global population that is nearing 10 billion people, and that must be done in more sustainable ways. At the same time, plant-based solutions that aim to meet clean energy and other environmental needs are arising.

Nufarm is positioning itself at the centre of these changes where the opportunities are significant. Nufarm is an agricultural innovator, where technology and innovation are central to the future of its business.

Nufarm's activities in this area all progressed strongly during the year, including expansions of its biopesticides, omega-3 and bioenergy platforms. Unique synergies from Nufarm's combined crop protection and seeds market presence will enhance and help accelerate these growth initiatives. 

Nufarm's commitment to sustainability

Nufarm defines "agricultural sustainability" as the ability of the agricultural value chain to reliably and securely produce affordable food, feed and fuel in ways that regenerate the environment, meeting the ongoing needs of future generations.

Through the development and delivery of new solutions Nufarm has chosen to focus on four of the United Nations Sustainable Development Goals (UN SDGs), which set the global sustainability ambition for 2030. Those are Zero Hunger, Life Below Water, Climate Action and Life on the Land. Nufarm is proud of the impact its solutions can have on these four challenges and believe that Nufarm's agricultural portfolio, aquaculture and nutritional portfolio of Omega-3 Canola and bioenergy portfolio of Carinata and Energy Cane will help the world evolve to its ambition of making substantial progress in these areas.

The Annual Report can be found here.

The Sustainability Report can be found here.