Sanford : 2023 Interim Report

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STRATEGIC

INITIATIVE

DELIVERED IN H1 2023

Build and sustain

• Launch of Big Glory Bay fresh tray packed product with Foodstuffs

partnerships with

• Continued diversification of our global customer base, bringing on

customers aligned

eight new retail partners within the last six months

to our purpose

• Further extension of our portfolio with key customers across

Europe, Asia and US markets. For example one customer has

expanded their Sanford product range from two to five products

in a key Asian market

• New customer partnership in China to expand scampi business

Develop

• Appointment of Group Risk Manager

expertise,

• Results from first of three mussel powder studies showing positive

knowledge and

outcomes in alleviating knee pain

insight to drive

• Climate futures workshopped with our divisional businesses to

asset

prioritise risks, opportunities and ultimately build further climate

optimisation,

resilience into our strategy and planning

profit, value,

• Investment in SPATnz and Bioactives skills & capability

quality and

sustainability

STRATEGIC

INITIATIVE

DELIVERED IN H1 2023

Improve value

• Opening of Sanford Bioactives in Blenheim and ongoing work on

utilisation of

delivery of mussel oil and powder processing

entire fish and

• Changed cascade of frozen at sea ling catch to improve quality

eliminate waste

of value adding products and utilisation of whole fish. For example

heads being sold instead of sent to fishmeal

• Launch of salmon fish portions enabling use of higher proportion

of fish

• Circular benefit of wildcatch fishmeal to producers of feed for

our salmon

Invest in systems

• SanCore programme advances with progress on implementation of

and processes to

our D365 system to manage core finance and supply chain processes

drive a high

• Adoption of Marel Innova product tracking system at Sanford

achieving

Bioactives plant and on vessels in our deepwater fleet with 7 out

organisation

of 12 vessels adopting this system by end of H1 and the rest on track

to be converted by end May 2023

• Salmon mortalities well managed using relocated pens, pen cleaning

and oxygenation systems on our Stewart Island salmon farms

Ensure the

• Move to a divisional structure to take decision making closer to the

welfare, growth

drivers of P&L performance

and fulfilment of

• Appointment of new CPO

our people -

• Donated 116,000 meal equivalents of seafood to those affected and

economic,

displaced by January flooding and Cyclone Gabrielle

physical,

• Focus on talent attraction and retention with good progress in Bluff

emotional

and Stewart Island (Salmon division) and programmes ongoing in

Mussels and Wildcatch

• LTI (Lost Time Injuries) improvement from 51 in H1 2022 to 19 in H1

2023, a 63% reduction