Science & Innovation Sector

New Zealand Forest Research Institute Ltd (Scion)

Scion has embraced a plant-based biomaterials strategy and defines its research capabilities as spanning three core themes; sustainable design, new forests and forestry science, and bioproduct development. 

Website: www.scionresearch.com (opens in new window)

2008/11 Statement of Corporate Intent (.pdf 145kb)

Key Company Data

Company Form	Crown research institute
Year of Establishment	1992
Head Office	Rotorua
Major Campuses	Rotorua, Christchurch
Chair (term expiry)	Dr Russ Ballard (June 2010)
Deputy Chair	Bronwyn Monopoli (June 2010)
Board Membership	Peter Berg (June 2009)
	Sheldon Drummond (June 2011)
	Dr Kathy Garden (June 2009)
	Chris Insley (June 2011)
	Michael Ludbrook (June 2011)
	John R Palmer (June 2009)
CEO	Dr Tom Richardson
Balance Date	30 June
Number of FTE Staff	317

 

 

Key Financial Data ($ million)	2003/04	2004/05	2005/06	2006/07	2007/08
Financial Performance
Total Revenue	39.0	35.1	21.3	21.5	41.9
FRST + NSOF / Capability Fund	N/A	N/A	N/A	N/A	N/A
EBIT	0.8	1.1	(1.3)	(0.4)	1.2
Net Profit After Tax	0.7	0.6	(1.6)	(0.5)	1.1
EBIT Margin	2.0%	3.2%	(6.1%)	(1.9%)	3.0%
Return on Assets	2.3%	1.8%	(3.8%)	(1.1%)	4.0%
Return on Equity	2.9%	2.5%	(6.9%)	(2.1%)	4.8%
Financial Position
Total Assets	34.1	37.0	32.1	31.1	32.4
Equity	24.2	25.0	23.1	22.6	23.6
Equity Ratio	70.9%	69.8%	69.4%	72.2%	72.7%
Current Ratio	1.9	1.1	1.2	0.9	1.1

2007/08 financial data reported under NZ IFRS. Financial data and staff member information correct as at 30 June 2008.

The reduced revenue in 2005/06 and 2006/07 was a result of the creation of Ensis, a joint venture with Australia's CSIRO Forestry and Forest Products. Revenue earned through Ensis was not included in the revenue line. Ensis was unwound in 2007/08.

The increase in revenue in 2007/08 is due to a change in the accounting treatment of business transacted through Ensis.

CCMAU commentary on 2007/08 performance

In 2007/08 Scion’s financial results exceeded budget and results from previous financial years. Full-year net profit after tax was $1.1 million, which was $1.1 million above plan and $1.6 million higher than the year-end result in 2006/07.

Scion has been heavily involved in interacting with many thought leaders on the opportunities that New Zealand-produced cellulosic biofuels and other bioenergy options provide. These interactions are leading to an increasing recognition that cellulosic biofuels are a viable option for New Zealand.

During 2007/08 Scion and the New Zealand forest industry formed a subsidiary Future Forests Research (FFR) to drive increased forestry research activity.