Science & Innovation Sector

Institute of Geological & Nuclear Sciences Ltd (GNS Science)

GNS Science is New Zealand’s largest provider of geoscience and isotope science research and consultancy. The company has three separate business groups: Natural Resources, Natural Hazards, and the National Isotope Centre. Although over 50% of the company's revenues are from central government, GNS Science is increasingly partnering with private sector clients to grow commercial revenues.

Website: www.gns.cri.nz (opens in new window)

2008/09 Statement of Corporate Intent (.pdf 255kb)

Key Company Data

Company Form	Crown research institute
Year of Establishment	1992
Head Office	Lower Hutt
Major Campuses	Wairakei, Lower Hutt
Chair (term expiry)	Con Anastasiou (June 2010)
Deputy Chair	Ross Butler (June 2009)
Board Membership	Dr Ellen Förch (June 2010)
	John Hercus (June 2011)
	Sarah Schiess (June 2009)
	Jane Taylor (June 2011)
	John Walters (June 2010)
	Mike Williams (June 2009)
CEO	Dr Alex Malahoff
Balance Date	30 June
Number of FTE Staff	307

 

 

Key Financial Data ($ million)	2002/03	2003/04	2004/05	2005/06	2006/07
Financial Performance
Total Revenue	37.2	39.4	43.0	46.0	51.0
FRST + NSOF / Capability Fund	20.9	20.7	21.6	23.5	24.1
EBIT	2.3	2.1	1.9	1.8	2.5
Net Profit After Tax	1.6	1.4	1.2	1.0	1.4
EBIT Margin	6.4%	5.3%	4.5%	4.0%	4.9%
Return on Assets	9.4%	7.7%	6.6%	5.8%	7.0%
Return on Equity	11.5%	9.3%	7.5%	6.1%	7.8%
Financial Position
Total Assets	25.4	29.0	29.5	34.7	36.3
Equity	14.5	15.6	16.8	17.5	18.6
Equity Ratio	57.1%	53.8%	57.0%	53.4%	50.8
Current Ratio	1.2	1.1	1.0	1.1	0.9

Financial data and staff member information correct as at 30 June 2007. Board information correct as at 1 July 2008.

CCMAU commentary on 2006/07 performance

GNS Science had good financial performance for 2006/07 with revenue of $51.0 million, up from $46.0 million in 2005/06.  The company’s net profit of $1.4 million was also an increase from its 2005/06 result.  GNS Science has experienced particularly good commercial revenue growth in areas such as natural hazard risk assessment and mitigation, and oil and gas exploration.

The company has continued its excellent work to develop the sustainable use of New Zealand’s resources including research to support greater geothermal energy use and carbon sequestration.  The company has also played a key role in New Zealand’s case to the United Nations Commission on the Limits of the Continental Shelf for an expanded exclusive economic zone (EEZ).  If approved, the expanded EEZ will result in a greater area of New Zealand ownership of petroleum, mineral and other resources