2016 Half Yearly Report

An ongoing focus on collaborating with other science providers has strengthened NIWA’s research capability and supported the application of NIWA’s science to industry and government agencies.

Download the Half Yearly Report for the six months ended 31 December 2016 [PDF 1MB]

Overview

At the half year stage NIWA’s revenue, profit and cash flow metrics are better than budget.

All science objectives as outlined in the 2016/17 Statement of Corporate Intent are on track, and good progress has been made with the implementation of initiatives to improve NIWA’s operational efficiency and effectiveness.

An ongoing focus on collaborating with other science providers has strengthened NIWA’s research capability and supported the application of NIWA’s science to industry and government agencies, as illustrated below.

Financial Results

NIWA's turnover at $63.448 million was ahead of the budgeted revenue of $63.203 million and represented an improvement of $5.340 million compared with the same period last year. An after taxation loss of $(0.681) million was better than budget by $0.339 million.

Although in line with budget, expenses were $5.445 million higher than during the same period last year. This was due to higher science staff numbers as well as increased spending on science collaboration activity in respect of revenue generating projects.

The closing cash position continues to be favourable, being $6.343 million ahead of the budgeted cash balance of $24.914 million. This was due both to the timing of capital purchases and to positive working capital movements.