In a volatile world, stability provides confidence.

Towards the end of 2025, the big news for all of us has been the direction of prices. After steadily climbing to record levels, prices dropped twice at the close of the year as Fonterra reduced farm gate milk prices before ticking up again in the New Year.

In the face of such volatility, confidence comes from our ability to control what is going on in our own backyards. We do that by sticking to strong business fundamentals. Westland’s results from 2025, which continue to build on the gains of 2024, give us great confidence for the future.

We’re pleased to be able to tell you that Westland Milk Products’ financial performance for 2025 will show healthy growth in both revenue and profit and we will continue to build on that momentum in 2026.

Capital investment in our high-value strategy has paid dividends, with extra production capacity in the high-value protein and fats categories leading to additional sales.

We’re now into the second year of a co-operative operating model with Oceania Dairy. This model has also helped drive gains in production and sales across both businesses.

It also means that the balance sheets tabled with the New Zealand Companies Office, which need to be provided for the individual companies, provide only part of the picture of how well Westland is performing.

Last year Westland’s milk volumes increased by 2.31 per cent over the previous year and milk solids increased 2.81 per cent. The good news has been the huge growth in colostrum collected, which is great for the business and for farmers.

The number of farms supplying colostrum grew by 30 per cent in 2025 with colostrum collected off farm increasing by close to 60 per cent.

Other highlights of the year include:

• A third butter line installed in Hokitika leading to more production capacity of our high-margin retail product

• Westgold butter sales grew 341 per cent in the US

• Westgold UHT Cream sales increased by 60 per cent

• Milk Protein Concentrate sales doubled at higher premiums. Caseinate sales are up 42 per cent year on year and skim milk powder mix is up 72 per cent.

We’re also pleased to bring you up to date on some of the latest gains we’ve made in our executive leadership team.

Tim Winter has joined Westland as General Manager of the CEO Office at Westland Milk Products and Yili Oceania Business Division. Tim has held senior roles at Tatua and is recognised for his expertise in international business development, formation and management of sales networks, offshore manufacturing, technology licensing, contract processing, and innovation management.

Martijn Jager is our new General Manager of Sales and Marketing. With more than 25 years of senior executive experience across international nutrition, food, and pharmaceutical industries, Martijn has held executive roles at Synlait Milk and Royal Friesland Campina in The Netherlands. HE has also led operational and commercial transformations across Asia Pacific and Europe.

And finally, you might like to watch this brilliant video prepared by the talented team at HQ. It really does seem to capture the spirit of the place we call home.