Full Year 2020 Fonterra Shareholders' Fund Earnings Call Transcript
Hi, everyone. Welcome to our Annual Results Presentation for 2020. I'm joined here today by our CFO, Marc Rivers.
Firstly, I'd like to acknowledge the great work that has gone on by our teams to manage what has been an unprecedented situation through COVID. The hard work and resilience in help juggling the demands of COVID has certainly helped us in delivering this performance today.
Let's start with net profit after tax, an increase of $1.3 billion to $659 million, which goes a long way to delivering upon all our promises we set out at the start of the year. In addition to our earnings, we've also had a higher milk price delivering $7.14 per kilogram of milk solids for the year just finished, which puts about $11 billion into the economy.
When I look from an environmental perspective, hitting our 2020 energy intensity target we set in 2003, something we're also very proud of. Our underlying business performance has improved. Normalized NPAT was up $118 million to $382 million, being $0.24 per share, being at the top end
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